US-based investor Nigel Morris has completed a move to invest in Swansea City, the club have confirmed.
The 64-year-old was recently named as one of three investors set to plough around £10m into the club, alongside current chairman Andy Coleman and Brett Cravatt, and will now take up a place on the board of directors as part of the move.
Morris, a British businessman based in Virginia, is the co-founder and managing partner of QED Investors - a fintech company primarily investing in early-stage financial services firms in the US, UK and Latin America.
He is also ranked 54th on Forbes’ Top Tech Investors list.
In a statement confirming the move, the club said: "Swansea City is delighted to announce that Nigel Morris has joined the board of directors and made an investment in the football club.
"Morris, a British businessman with Welsh heritage, co-founded Capital One Financial Services and under his leadership as President and Chief Operating Officer, they pioneered an information-based strategy that transformed the consumer lending industry in the USA, UK and around the world.
"Currently, he is the Managing Partner of QED Investors, a leading global fintech venture capital platform that he co-founded.
"Morris brings a wealth of strategic and operational experience to the football club and joins fellow board members in being fully aligned with Swansea City’s goals of a sound, durable commercial model and achieving success on the pitch.
"The investment by Morris and his board appointment have been approved by the EFL and all regulatory checks completed."
Chairman Coleman added that the investment from Morris would help strengthen the club's financial footing, and insisted the Swans were looking ahead to an exciting future.
“I’m really pleased that Nigel is now on board, and everyone is excited about the future for a club that has so much potential," he said.
“Nigel has great credentials and a wealth of business acumen that will be invaluable to the club going forward as we work together to achieve success both on and off the pitch.
“We will continue to ensure that the club remains financially stable and positioned for long-term success and this investment helps improve the club’s financial position.
“I’ve spoken with Nigel on many occasions, and we are fully aligned in our vision of a shared commitment of helping to deliver success for the football club.”
Morris himself added: “I’m delighted to have invested in Swansea City. The club has superb facilities and is front and centre of the community. The supporters are the most important part of any club, and I have been taken aback by the passion and integrity shown by the many people I have already met on a number of recent visits to matches.
“I hope I can play a part in Swansea City’s future success, and I am very much looking forward to working closely with Andy and club executives to embrace short and long-term objectives.
“I’d also like to take this opportunity thank both Jason and Steve for their support in this process.”
The move comes as part of a summer of change at SA1, with first-team manager Russell Martin still on the brink of a move to Southampton.
As well as Coleman taking up the role of chairman, Julian Winter has left his role as CEO, while Paul Watson is set arrive from Luton Town to take up a sporting director role.
Despite speculation, Josh Marsh looks set to stay on as head of football operations.
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