SWANSEA, Wales – Swansea says the Premier League has approved a deal for American investors to take control of the south Wales club.
Steve Kaplan, a minority owner and executive vice chairman of the NBA's Memphis Grizzlies, and Jason Levien, a part-owner of Major League Soccer's DC United, have yet to complete their takeover.
On the Swansea website, Kaplan and Levien say "there are still a few minor loose ends to tie up on the deal which we envisage will be completed before the end of the month."
Lawyers for outgoing investors previously said the deal values Swansea at 110 million pounds ($146 million).
A supporters' trust still owns more than 20 percent of Swansea, which has been in the Premier League since 2011.