New Investment

SWANSEA CITY STATEMENT | NEW INVESTMENT
13 seconds ago
Club
Swansea City is pleased to announce the appointment of Jake Silverstein to the club’s Board of Directors.

Silverstein from Portland, Oregon, has today finalised a significant investment in the club which has been matched with additional funds from the entity controlled by majority shareholders Steve Kaplan and Jason Levien.

The investment is a boost to the long-term strength of the Championship club following the challenges surrounding Covid-19 and preparation for the club's third season in the Championship.

Silverstein, co-owner of MLS side Houston Dynamo and NWSL Cup winners Houston Dash, is also chairman and CEO of Stormlight Holdings, the major American-based private investment firm of the Silverstein family.

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

“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."

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Silverstein, who has Welsh roots through his mother and has visited Swansea on a number of occasions, was excited and honoured to join the Swansea City family.

"As my love of football has grown, I have been eager to deepen my investment in the sport,’’ he said.

“I joined the Dynamo and Dash ownership in 2015 and my love for and commitment to football continues to grow.

“I am so excited to become part of a football club with such a devoted supporter culture and rich history. Jason, Steve and I share a vision for Swansea City's future trajectory, and I am thrilled to join the club.

“I love watching the Swans play. The team has developed such a distinctive and engaging style on the pitch, and I have a deep appreciation for its fan culture and the club's commitment to its supporters.

“By joining the club’s Board, it will allow me to become actively involved. It’s something I am passionate about and, as such, I will be applying a lot of focus on the football club going forward.’’

About Jake Silverstein

Stormlight Holdings makes long-term investments into fundamentally sound businesses across a wide array of assets in the United States and New Zealand. They are committed to core values and prioritise partnering with business operators, entrepreneurs and other family offices with whom they are philosophically aligned.

Silverstein, who entered university at 15 and holds a BA in theoretical mathematics and an MBA from the University of Michigan, led the family’s investment into MLS side Houston Dynamo in 2015 and serves on the MLS Board of Governors and Business Ventures Committee.

He sits on the Vision Circle of the X-Prize Foundation, a non-profit organisation that has gifted $140million towards the search and development of industry-changing technology that brings us closer to a better, safer and more sustainable world.

He is also a director of the WJ Silverstein Family Trust which supports organisations working to improve lives with a focus on health and well-being.

 

That’s two signings today then....this one too could be a good one and probably means that our American owners are not going away anytime soon....stability....

 

At last!

Someone on the board with a BA in theoretical mathematics.

 

Just posted this on the rebuild thread. Dam you @Taffvalerowdy

 

20 odd minutes late ....

 

.................We do need some Quantum Physics to our game..............

 

I’d be happy to see us back playing triangles

 

Swansea Pythagoreans

 

Obviously a bright guy entered university at 15 and holds a BA in theoretical mathematics and an MBA from the University of Michigan,

 

He will fit in really well having a bag of rissole and chips with the boys at Rossi’s...

 

This will dilute the Trust’s ownership percentage in the Club

 

I went for a course (1 week) at the University of Michigan 25 years ago so something to chat about if I bump into him whilst we eat our chips

 

Per the BBC

“It is understood the original investment will be in the form of a loan to the football club, providing an immediate boost to the club's finances which had been hit by relegation from the Premier League in 2018.

The loan - matched by one from Kaplan and Levien - is expected to be converted into shares at a later date, with other shareholders given the option to invest or see their shares diluted.

Swansea's Supporters Trust - who had been aware of the talks - currently have a 21.1% stake in the club.”

 

Enough of this this jargon !

HOW MUCH MONEY ???

 

Shrouded in secrecy

 

just like the new kit/sponsors ?

 

What’s more of the same , ah yes nothing, I rode past the Stadium tonight and what a state it’s looking , really tatty , so I wonder if all this new money will go towards rectifying some potential serious corrosion issues. Plus all the signage from Frankie & Bennys are gone , really sad to see

 

I've noticed the stadium is in desperate need of sprucing up......the paint is filthy. It's embarrassing.

Legoland still looks good though.

 

I was told that in confidence - you’ve seen the picture today

 

I have, Yobet on the sleeves. Still not sure if it's a kit or training wear though.

Are you saying the amount of money beong shrouded in secrecy is something you've been told in confidence lol ?