Swansea City Supporters' Trust ponders next move over share sale

Liberty Stadium
Swansea City's Liberty Stadium

Swansea City Supporters' Trust is considering taking legal action over the sale of the club's shares, a meeting was told on Thursday.

Americans Jason Levien and Steve Kaplan secured 68% of shares in July this year, with the trust retaining 21.1%.

The supporters claim they were not consulted and were not able to buy more shares themselves.

A statement on the Trust's website said it had received legal advice, but no decision had been taken.

"We are conscious any legal action would create uncertainty," the statement said.

"Our first preference has always revolved around protecting our shareholding and influence at the football club.

"[Legal action] remains a last resort, however we have a duty to our members for the best long-term interests of our fans."

The Trust members felt they were not informed of the sale of shares at an early enough stage, and their efforts to increase their own holding to 25% were rebuffed.

Their criticism is not just of Kaplan and Levien but of the previous board members who sold their shares to the Americans.

The Trust was also critical of the majority shareholders over the sacking of manager Francesco Guidolin, and the appointment of successor Bob Bradley.

The Supporters' Trust forum held at the Liberty Stadium was told a barrister had given initial advice, which was still being assessed.

"Our legal options are still being assessed and we will obtain the best guidance we can to ensure the Trust members' best interests are maintained.

"Whilst we have sought an initial opinion from counsel, we have not yet made any firm decisions in terms of the next steps to be taken."

Any legal action against the new owners or the previous shareholders would need the full approval of the Trust Members via a forum or ballot.

Swansea City have so far declined to comment.

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