Swansea City: Majority owners invest further £3.5m in Championship club
- Published
Swansea's draw with Sunderland last Saturday means they have won only one of their last four games
Swansea City's majority owners have invested a further £3.5m in the Championship club, a move welcomed by the Swans' Supporters' Trust.
A statement from the trust said new shares have been issued in return for the investment.
The investment has been made by Swansea Football LLC, which includes chairman Andy Coleman, Jason Levien, Steve Kaplan, and Jake Silverstein.
The group bought around £10m worth of new shares in August.
"The trust welcomes investment into the club, especially where it is made to bolster the playing squad or improve the club's infrastructure, as was the case during the summer transfer window when the squad was revamped with 13 new players," the trust statement said.
"We understand that these funds will go to ensure that the club has the working capital it needs to operate effectively and contribute to the ongoing overhead costs of the club, which are not immune to the impact of ongoing inflation."
Swansea Football LLC's latest investment means the percentage of the club which is owned by other parties will reduce.
The trust now owns 10.35% of Swansea, which includes a permanently protected 5% shareholding.
"It is very likely that the club will continue to require investment beyond this capital injection over the remainder of this season, and therefore the shareholdings of those who do not take up the option to invest will dilute accordingly," the trust added.
American businessman Coleman was named Swansea chairman in May after buying a significant stake in the Welsh club.
Having moved to Wales to take charge of day-to-day operations at Swansea, Coleman has pledged to succeed "or go down trying" as he attempts to lead the club back to the Premier League.
Swansea, who dropped out of the top flight in 2018, are 14th in the second tier, six points adrift of the play-off places.
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