Bloomberg are tonight reporting that respected venture capitalist Nigel Morris is part of a trio of investors set to take a stake in Swansea City.
The investment which is reported as an initial £10m will see the existing American shareholders reduced to a 50% holding in what has long been speculated on social media as a longer term buy out of the club by Morris and his partners.
The other two joining Morris in the purported investment are Andy Coleman (an investor in Jason Levein’s DC United) and Brett Cravat who is current co-CEO and co-founder of Centerfield (a customer acquisition platform).
The Trust’s shareholding will obviously dilute as a result of the transaction to as low as 8% (based on the purchase amount) as their stake in the club continues to reduce.
Bloomberg say that the sources providing the information do not wish to be named but considering the respectability of the outlet, we can say it’s a fairly good shout in regards to the level of truth.
It’s an interesting time, as always at Swansea City. More reaction will follow in the coming days.
I don’t profess to understand what’s happening.Just wonder does anybody else feel nervous about where we are heading.With most fans expecting Manning ,Piroe and others to leave in the summer you have to say that all tis “investment” doesn’t seem to be helping us on the playing side.
Are they contemplating a new manager? They didn’t back Martin in the last transfer window and there’s no talk of negotiating a renewed contract. Perhaps the current strong run will change things but the signs weren’t good.