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I have cut and pasted in full, just in case it is edited or removed from the club website.
OWNERSHIP STATEMENT Swansea City AFC Limited is a member of the English Football League and the Football Association of Wales and is an affiliate member of the West Wales Football Association.
It is a wholly owned subsidiary of Swansea City Football 2002 Limited.
Shareholders owning 10% or more of the issued share capital in the ultimate holding company are:
Andy Coleman, Stephen Kaplan, Jason Levien & Jake Silverstein (via Swansea Football LLC) - 70.76%
Nigel Morris – 15.22%
Swansea City Supporters Society Ltd – 10.35% (including its protected 5.00% ownership position).
So the club put this on their website, without it being dated and without it being available through the latest news or club news section of the website. Was it slipped on without trying to draw attention after recent questions have been asked? Do they monitor the fan forums I wonder? Clearly this statement is after the latest investment and dilution going by the trust shareholding percentage.
We now know the names and shareholding of the main shareholders.
Swansea Football LLC-70.76% Nigel Morris – 15.22% Swansea City Supporters Society Ltd – 10.35% (including its protected 5.00% ownership position). Leaving 3.67% left between minority shareholders. This is down to dilution and will continue to be reduced with any future dilution.
Swansea Football LLC is the American investment vehicle of Andy Coleman, Stephen Kaplan, Jason Levien & Jake Silverstein and possibly others, we do not know for sure. Neither do we know what percentage stake each investor has in Swansea Football LLC. We do not know either if all the investment in Swansea Football LLC has now been transferred to SWANSEA CITY FOOTBALL 2002 LIMITED (our club registered at Companies House in the UK). The clarification here does go to explain Coleman's statement that he had "invested a considerable amount in Swansea City", when nobody could see it registered at companies house. He had in fact invested, IMO, it in Swansea Football LLC in the USA.
There is some clarity but also leaves many questions still unanswered.
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Clarity by the club or is it on 13:12 - Nov 14 with 2889 views
Kaplan and Levien invested in the LLC and the LLC bought shares in the Football club.
Silverstein put money in the Convertible loan note as (in my interpretation) there were concerns over potential legal action and he wanted a back door exit if thing got troublesome. He converted in the LLC not the club it seems and the LLC bought shares in the "football club" shortly after the settlement with the plaintiff.
Coleman invested in the LLC and the LLC including himself and the others have seen their money used to buy shares in the "football club" and how that money is spent is the remit of Coleman. If the LLC money is in the club and he put money into the LLC pot before the purchase of new shares he can call himself and investor in the "football club in Swansea".
The other owners and the cash balance of the LLC in the USA is of interest only if they have big money behind them. (Big bucks waiting in the wings). This could be ex business partners of Kaplan and Levien with a few billion $ tucked away for a good opportunity. They may want to see how Duff /Watson /Coleman are doing before entering the fray. These people may not exist.
I do not need to know.
Fans are owners of 10%+ of the club but seem to have no questions for them . They ask fans like me for £10 and I say no. First I want to know what they are going to do with the £10 given their dreadful performance over the last decade.
a) How are they protecting my £10 against inflation. At near7% inflation my £10 will be worth £5 in 10 years.
b) The £10 is helping Santander Bank not the club as it is not getting great interest and santander can use it to lend to business at 9%. pa or so.
c) Doubt has been cast (on PS) over whether the fixed 5% ownership means 5% of all dividends and 5% of the final sale price.
d) It appears the Trust has a drag on agreement but not tag on agreement meaning it can oblige the other owners to include them in a sale but they themselves are not obliged to sell their shares.
e) There was a concern that the LLC would sell the LLC not the club. The Trust would be in the same place and Mr Morris and the other independent shareholders and see not sale cash. This is presumably covered as part of the agreement they have made.
I am, not based on their track record convinced the SCST is good for my club. The fans as owners want to take the clubs money out not put money in.
Very few people bother with the trust now. After the board ignored the members i'd expect the membership to drop further.
I really highly doubt there are any billionaires waiting in the wings, any smart billionaires could buy the whole club and invest, probably more wisely, with the knowledge any gaisn would be theirs alone.
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Clarity by the club or is it on 00:08 - Nov 15 with 2595 views
Clarity by the club or is it on 20:40 - Nov 14 by SullutaCreturned
Very few people bother with the trust now. After the board ignored the members i'd expect the membership to drop further.
I really highly doubt there are any billionaires waiting in the wings, any smart billionaires could buy the whole club and invest, probably more wisely, with the knowledge any gaisn would be theirs alone.
I think the trust is of little interest to most fans now sadly. Also I too do not hold out much hope that there is a local philanthropist with buckets of money ready to invest in our club Shame though
"Sanity and happiness are an impossible combination" - Mark Twain
Clarity by the club or is it on 20:40 - Nov 14 by SullutaCreturned
Very few people bother with the trust now. After the board ignored the members i'd expect the membership to drop further.
I really highly doubt there are any billionaires waiting in the wings, any smart billionaires could buy the whole club and invest, probably more wisely, with the knowledge any gaisn would be theirs alone.
You fail to understand the situation properly.
The members were lacking confidence in themselves and did not direct he Board away from the treacherous waters of legal action and hideous costs of legal advice. They accepted the recommendations of the board in the period 2014 -2017 based on a dubious narrative developed on forums and that is their fault.
The legal advice was the legal case was "last resort". That means eating the family dog. The members did not take this warning seriously and "kicked the can down the road" for another 3-4 years.
In 2022 the new board inherited the position. They looked Bonzo in the eyes and just could not do it. (his little tail wagging)
It would have been suicidal and very bad for the club. The investor at the time would have withdrawn his loan to the club to avoid the mess. No member has stood up and said he or he was wrong in following this disastrous waste of time.
The 5% protection is actually a good deal providing the shares can be cashed in for the same cash as other shares and dividends are payable on them. They will need a decade or two to be equivalent to the £21m the Trust failed to get in 2016.
The club would need to be sold at £400m to see that money again if the SCST ends up with 5% .
Clarity by the club or is it on 00:08 - Nov 15 by STID2017
I think the trust is of little interest to most fans now sadly. Also I too do not hold out much hope that there is a local philanthropist with buckets of money ready to invest in our club Shame though
Imagine Duff gets the team to 6th by late january ad playing good football and keeping clean sheets.
The injection of £10m then could take the club to Wembley with providing considerable firepower. Brewster Kieffer Moore, Sory Kabba, Thomas Henry.
Clarity by the club or is it on 17:11 - Nov 15 by ReslovenSwan1
You fail to understand the situation properly.
The members were lacking confidence in themselves and did not direct he Board away from the treacherous waters of legal action and hideous costs of legal advice. They accepted the recommendations of the board in the period 2014 -2017 based on a dubious narrative developed on forums and that is their fault.
The legal advice was the legal case was "last resort". That means eating the family dog. The members did not take this warning seriously and "kicked the can down the road" for another 3-4 years.
In 2022 the new board inherited the position. They looked Bonzo in the eyes and just could not do it. (his little tail wagging)
It would have been suicidal and very bad for the club. The investor at the time would have withdrawn his loan to the club to avoid the mess. No member has stood up and said he or he was wrong in following this disastrous waste of time.
The 5% protection is actually a good deal providing the shares can be cashed in for the same cash as other shares and dividends are payable on them. They will need a decade or two to be equivalent to the £21m the Trust failed to get in 2016.
The club would need to be sold at £400m to see that money again if the SCST ends up with 5% .
[Post edited 15 Nov 2023 17:26]
I don't fail to understand, you do.
I, like so many others do not care about or have ANY interest in the trust or your ongoing campaign.
Last resort does not mean eating the family dog, what a silly thing to say.
If you post any more about the trust do not expect me to answer because I don't care either about the trust now OR your opinion about them. I don't think I'm alone in that.
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Clarity by the club or is it on 20:31 - Nov 15 with 2395 views
Clarity by the club or is it on 17:47 - Nov 15 by SullutaCreturned
I don't fail to understand, you do.
I, like so many others do not care about or have ANY interest in the trust or your ongoing campaign.
Last resort does not mean eating the family dog, what a silly thing to say.
If you post any more about the trust do not expect me to answer because I don't care either about the trust now OR your opinion about them. I don't think I'm alone in that.
You were in your previous alta ego a big supporter of legal action.
Of course you are no longer interested because the Trust were humiliated and had give up their claim after 6 long years and £400k wasted. The members were wrong but there was 1000+ of them so they still can pedal a fake narrative of being betrayed by the new Trust board. Not one of them will accept they were wrong.
The fact is they were not good enough to own this great club built by Morgan Jenkins Lineen and co. Perhaps they have learned. I somehow doubt it.
The idea that a Trust win in court would be good for the overall club is laughable with £10m+ heading into the pockets of legal people and agents in fees and the Trust unable or unwilling to invest.
Clarity by the club or is it on 20:31 - Nov 15 by ReslovenSwan1
You were in your previous alta ego a big supporter of legal action.
Of course you are no longer interested because the Trust were humiliated and had give up their claim after 6 long years and £400k wasted. The members were wrong but there was 1000+ of them so they still can pedal a fake narrative of being betrayed by the new Trust board. Not one of them will accept they were wrong.
The fact is they were not good enough to own this great club built by Morgan Jenkins Lineen and co. Perhaps they have learned. I somehow doubt it.
The idea that a Trust win in court would be good for the overall club is laughable with £10m+ heading into the pockets of legal people and agents in fees and the Trust unable or unwilling to invest.
Please do us all a favour mate and put this one to bed. You are alone in your constant rants regarding the Trust. It is history and no longer of interest to 99% of posters on here nor I guess is it of interest to many of our fans outside this forum. At risk of being rude, it is so boring and you are making yourself into a bit of a laughing stock. Just take a chill please - for all our sakes on here
"Sanity and happiness are an impossible combination" - Mark Twain
Clarity by the club or is it on 21:59 - Nov 15 by STID2017
Please do us all a favour mate and put this one to bed. You are alone in your constant rants regarding the Trust. It is history and no longer of interest to 99% of posters on here nor I guess is it of interest to many of our fans outside this forum. At risk of being rude, it is so boring and you are making yourself into a bit of a laughing stock. Just take a chill please - for all our sakes on here
This with bells on
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Clarity by the club or is it on 09:43 - Nov 16 with 2231 views
Clarity by the club or is it on 09:43 - Nov 16 by jasper_T
He also got Hourihane, Whittaker, Freeman and Hamer in that window.
He also dispatched Viktor Goykeres now second leading goalscorer in La Liga Portugal 10 games 8 goal and 4 assists. It was Coopers job to see potential gooing cheap and big Vic was just the ticket for Swansea
Sold for £20m probably now worth £30m to PL big shots.
I have no reason to show mercy to the Trust 2014 -2020 losers. I might go easy on them if they admit their mistakes and apologize to the club and fans. They gave me years of abuse.
Clarity by the club or is it on 09:43 - Nov 16 by jasper_T
He also got Hourihane, Whittaker, Freeman and Hamer in that window.
Hourihane had an ok start before being slated by plenty for his lack of effort. The others played no part in the play off final. Hamer second fiddle to Woodman. Did Freeman even kick a ball for the first team? A disastrous window whilst in the auto promotion places.
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Clarity by the club or is it on 18:50 - Nov 16 with 2028 views
Clarity by the club or is it on 16:20 - Nov 16 by ReslovenSwan1
He also dispatched Viktor Goykeres now second leading goalscorer in La Liga Portugal 10 games 8 goal and 4 assists. It was Coopers job to see potential gooing cheap and big Vic was just the ticket for Swansea
Sold for £20m probably now worth £30m to PL big shots.
I have no reason to show mercy to the Trust 2014 -2020 losers. I might go easy on them if they admit their mistakes and apologize to the club and fans. They gave me years of abuse.
Dry your eyes res
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Clarity by the club or is it on 19:01 - Nov 16 with 2020 views
Clarity by the club or is it on 18:50 - Nov 16 by Treforys_Jack
Dry your eyes res
Levien will be crying his eyes out seeing big Vic rip up the Portuguese league. Available for £1m, GHe played for Sweden today and lost 0-3 away v Azerbijan who were down to 10 after 57 mins.
No easy games in far flung places. Next door to Armenia.
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