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Swansea City update | Jason Levien, Steve Kaplan and Jake Silverstein

30th September 2022

Jason Levien, Steve Kaplan and Jake Silverstein have issued the following communication to Swansea City supporters:

It has been several weeks now since the summer transfer window closed, and we feel that it was a positive one for the football club.

The summer windows are long, lasting for almost three months, and the club worked hard to complete its business early to allow Russell and his coaching staff time with the players in pre-season to fit into our style and culture, while also get embedded with their team-mates and the city. We are also glad that we were able to hold on to some of our most important players, and we are in a strong position to be competitive. 

Back in May, we spoke about “building” and that approach has continued. In the second half of last season we played some exciting football that yielded great results, and the connection between the players and supporters was clear. We have experienced some tough defeats this season, but we recognise that there are fine margins in games, and we believe we are on the right track towards getting the results that our performances have deserved. We are still in the early stages of a long season, and we are one hundred percent supportive of the work that Russell and his staff are doing with a group of players who are hungry, committed and willing to fight for the club.

We have regular dialogue with Russell, Julian and Josh, and our goal is a return to the Premier League. We are extremely respectful of the success the club has achieved in the past - before our tenure - playing football the 'Swansea Way'. This is a long-term project where we want to continue to progress, be highly competitive, develop players and achieve our goals while maintaining the long-term financial position of the club.

Like many businesses, we are facing inflationary rising costs. We have seen costs rise in almost all areas of day-to-day operations such as catering, hospitality, stewarding, travel and accommodation for all our squads, as well as the annual running of our academy and training grounds. The harsh reality of the Championship is that there is a continuing need for a combination of ownership investment and player trading to stay in a strong financial position.

We want to take this opportunity to thank the Jack Army for the backing you continue to show. We believe this will be a very exciting season for Swansea City and we are grateful for the wonderful support you show the club.

We are also pleased that we are at the conclusion of the loan note conversion that has been in the pipeline. We are delighted that Jake’s loan note from 2020 is now being converted and his position as an equity holder formalised. We would like to thank the Supporters’ Trust for working together with us as we all look forward to the future.