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Wales Online
Wales Online
Sport
Mathew Davies

Trio of American investors to pump £10m into Swansea City, say US reports

Three US businessmen are set to invest £10million into Swansea City, according to reports on the other side of the Atlantic.

The individuals named are said to be Nigel Morris, who is the co-founder and managing partner of QED Investors, Andy Coleman, an investor in the US soccer team DC United of which Swansea owner Jason Levien is also involved and Brett Cravatt, co-founder of Centerfield, a digital customer acquisition company.

Following the new investment, the current directors, which include Levien, Steve Kaplan and Josh Silverstein, will hold around 50 per cent of the club, the report states.

READ MORE: Joel Latibeaudiere's emphatic response to Swansea City future talk as he reveals what's going on behind the scenes

Swansea have made no secret of the fact that they have been looking for outside investment for some time, with head coach Russell Martin revealing last month that he had met with interested parties already.

Levien, Kaplan and Silverstein have converted three sets of loan notes - worth a combined total of around £19m - into equity in the club in recent years while their shareholding further increased earlier this month after an additional £1m was pumped into the club.

Now, according to reports in America, Morris, Coleman and Cravatt are looking to boost the coffers that bit further by joining forces with the trio already in situ in SA1.

As a result of the earlier investment this month - which will play a key role in funding running costs to avoid additional debt on the club's books - other shareholders including the Supporters' Trust will see their shareholding diluted.

Martin said he was hopeful matters could be sorted soon when he broached the subject earlier this month.

"I speak to them (owners) regularly," he said. "I think the club is really hopeful, as are the owners, that there'll be more than that (the £1m investment) to come into the club and hopefully very soon.

"It's not my job to say but I think we're really positive that we can maybe have a bigger impact financially than we have done. I don't think it's going to change the landscape hugely but maybe if something does come in it'll help us a little bit.

"It'll definitely help the club moving forward to be sustainable in itself. We'll just have to wait and see on that.

"I think the club will announce something when it's ready and when it's all done. I feel really positive about that and I think everyone else does as well."

"I don't know how much it is or exactly when it's coming, but I know there's been really positive talks on it," Martin added.

"I've met a few of the guys myself. We're not going to spend loads of money on players, but I think, what it does give us is a plan and a strategy which will be more well rounded and probably a bit clearer than ones we've worked to previously. I don't mean that as any criticism, that's on us as well.

"Hopefully it'll give us a bit of clarity moving forward, not just on this year, but on the next couple of years and what the plan is."

Swansea City declined to comment on the matter.

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