If there has ever been a fresh feel to the club this week then Swans Chairman Andrew Coleman signifies that. His whirlwind approach to the ‘coup’ that saw Jason Levien and Steve Kaplan leave Swansea City under agreement two weeks ago is making pace.
We call it a coup because long before this summer Coleman was a frustrated individual caught up in the vagrancies of an extraordinary USA investment tool referred to as an LLC, plus the constraints of majority shareholders Jason Levien & Steve Kaplan. Coleman certainly ran issues at the club but these two were restricting his financial movement and lessening the Swans spending power and ability to manage a Championship club. However, they were not the whole villains of the piece, a series of poorly judged managerial decisions and appointments within the club have to be analysed over time.
That is something we have done since last May and indeed since we have run Swansea Independent. At times a series of calls have to be made based on judgement, knowledge and indeed without compromising sources. That’s ensconced in our internet history. Now though we have to refer to the new boys in at the club. For reference our three reports over October and November are good starting points.
1. ⚽️ Levien & Kaplan to leave ?
2. ⚽️ Tyler Morse to come in ?
3. ⚽️ Its full steam ahead
With those reports under your belt the future is now open to discussion.
First off with Tyler Morse already a known entity, we look at those now newly appointed to the Swansea City board of directors. You won’t find these names on the official site map just yet, but as always, you can trust the following information.
So, what’s the latest news on those new directors ?
⚽️ Jason Cohen is no stranger to one of the majority shareholders, Brett Cravatt. In a nutshell they have numerous business partnerships in the USA. They both have a pretty succesful pathway in business. Magdellan equities is their latest venture. Prior to Magellan, Brett Cravatt and Jason Cohen founded, developed, and scaled one of the nation’s leading technology-enabled customer acquisition businesses, Centerfield. Cravatt and Cohen grew Centerfield from inception to over 2,500 global employees, $550mm+ of revenue and upwards of $150mm per annum in EBITDA. (earnings before interest, taxes, depreciation, and amortisation) There revenue stream is sound. Both live in California and are married with children.
⚽️ George Popstefanov : Born in Macedonia and raised in the country but at seventeen his parents had sufficient money to send him to ‘finishing school’ in the USA. He is now CEO of PMG Advertising a compkany going all out for respect in the advertising industry. They regularly report huge profits in the millions of dollars each year. In a two-week span in 2023, PMG acquired Camelot Strategic Marketing & Media and Rocket Mill. The two businesses added more than $50 million in revenue to the system. The company is on target to do nearly $7 billion in media billings for its clients. And they now include Apple and Nike.
⚽️ Chris Sznewajs (SwansJacks) ! Is the Managing Partner, Founder and Investment Committee Member of Pacific Avenue Capital Partners. Sznewajs is responsible for overseeing all aspects of the firm’s investment activities along with chairing the Boards of the active portfolio companies.
Andrew Coleman seems to be a man with a new lease of life now surrounded by what he perceives to be honest and genuine people with a solid investment track record. This is not in any way the same as the way the club was purchased with a long list of investments via a hedge fund back in 2016. These are openly appointed individuals to the Swansea City board who are known and transparent.
It is great news to hear the diligence is complete, but that really was never a concern. Much of the twenty million pounds invested will go into the clubs running costs, daily structure and forwarding things already in place at the club. There will be a big emphasis on the academy and all inclusive sports development. This will interest many companies within Wales we expect. The Swans will provide a more open environment for businesses to attach their companies to. That has been difficult until now.
The standing of Martin Morgan and Huw Jenkins is yet to be divulged but a look back in history to 2016 saw them heavily involved. This is obviously no longer the case but minority interest remains.
April 2016 : Guardian report, David Conn, Jenkins’ 13.2% stake, which cost him £125,000 to buy, is valued at £13.2m. He is understood not to be planning to sell all his shares and is likely to remain the chairman if the takeover completes, because he is widely credited with having run the club with great acumen, alongside the other directors. The local hotelier Martin Morgan and his wife, Louisa, are the largest shareholders with a 23.7% stake, which cost £225,000 to buy; it is now valued by Kaplan and Levien at around £23.7m. Martin Morgan is said not to be intending to sell, and Levien may try to have separate discussions with Louisa Morgan, who controls more than half of their stake.
How times change.
We also have to keep an eye on this European idea that was hatched by Andrew Coleman and the Noel Mooney connection at the Football Association of Wales. Mooney is the Chief Executive of the FAW who doesn’t always hold the fans best regard. This still concerns us, Newport County at the time of this going to press were not even aware of the details of the document presented to Mooney at the FAW. Our site owner, went on BBC Wales as a guest and questioned the whole strategy and reasoning. Agreed in some degree with host Rob Phillips and Nathan Blake, it all just seemed pie in the sky. We await developments on that. Mooney commented today. Time for a few questions on what these ‘partnerships’ are ?
Where’s Ken Gude ?
Our editor wrote a piece on this and the real history of the Welsh Cup.
Hang fire on our big game build up tomorrow, a cracking tie between the Swans and Leeds United at the Swansea.com. Kick off is 3pm, with some tickets still available.
Get on the forum folks for the build up to this game. Join us !