Jason and Steve will lead an investment consortium which has acquired a controlling majority of the shares with several existing shareholders also maintaining a smaller stake in the club.
The shareholding of the Supporters’ Trust remains unaffected.
The agreement concludes a lengthy negotiation process and will see Huw Jenkins remain in an executive role and charged with the day-to-day running of the Club. Huw will also maintain an ownership stake in the club.
Jason and Steve have vast experience in running sporting franchises in America. Jason is managing general owner of MLS side, DC United while Steve is the executive vice-chairman of the Memphis Grizzlies in the NBA.
Both see the takeover of Swansea City as an exciting opportunity for long-term growth in the club in every area.
There is a huge level of respect for and a huge desire to build on the outstanding work of Huw Jenkins and his fellow board members who, alongside the Supporters’ Trust, rescued the Swans and transformed them into a highly-respected Premier League club.
All parties expect the takeover to be fully sanctioned by the Premier League in the coming weeks.