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Swansea City secures new US investment

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English Football League club Swansea City has secured new American investment after private finance entrepreneur Jake Silverstein acquired an undisclosed stake in the Championship team.

The Portland, Oregon-based Silverstein is chairman and chief executive of Stormlight Holdings, the major American-based private investment firm of the Silverstein family.

He is also a co-owner of Major League Soccer’s Houston Dynamo and the National Women’s Soccer League’s Houston Dash.

Silverstein has joined Swansea’s board of directors following his investment.

“We are pleased to welcome Jake to the Board and Swansea City Football Club,’’ said Swansea’s co-managing owners Steve Kaplan and Jason Levien in a statement.

“Jake is a highly-respected individual, businessman and sports team investor. He has experience, knowledge and expertise across a wide range of fields which will be an asset to Swansea City. We are looking forward to his contribution,” the statement added.

In addition, Kaplan and Levien – who are also co-owners of MLS team DC United – have put “additional funds” into the club in the wake of the financial effects of the global Covid-19 pandemic.

The duo took over Swansea in 2016 in a deal worth around £100m (€119.1m/$131.4m).

Further reading: DC United leverages twin impact of Audi Field and ‘Rooney effect’ into new deals