Majority owners Jason Levien and Steve Kaplan are in the process of selling their stake in Swansea City to fellow shareholders Andy Coleman, Brett Cravatt and Nigel Morris as well as businessman Jason Cohen.

American duo Levien and Kaplan bought a 68% stake in Swansea – who were then in the Premier League – in 2016 in a deal that valued Swansea at around £100m to £110m.

They later increased their majority stake in the club, who were relegated to the Championship in 2018.

But Levien and Kaplan are now in the process of selling that stake to current chairman Coleman, Cravatt and Morris as well as Cohen, a business associate of Cravatt’s.

Coleman became Swansea’s chairman in May 2023, when he also bought a “significant shareholding” in the Welsh club.

Coleman’s fellow American businessman Cravatt and British businessman Morris both invested in the club last year.

The agreement to purchase Levien and Kaplan’s stake is subject to English Football League approval.

BBC Sport Wales understands Levien and Kaplan will make a significant loss on their initial investment Swansea.

Speaking to The Athletic, external, Cravatt said he, Coleman, Morris and Cohen were buying the outstanding shares of Levien, Kaplan and their investors.

Coleman said the ownership change could see more than £20m brought into the club.

“It is critically important for Swansea City to move on from the previous owners,” Coleman said in a statement initially issued to The Athletic.

“I want to thank Brett Cravatt, Jason Cohen, Nigel Morris and our partners for coming together to make that happen.

“Together we are bringing more than £20m directly into the club. This gives us a great foundation to drive Swansea City forward.”

At present, Kaplan, Levien, Coleman and another American businessman, Jake Silverstein, own 74.95% of the club while Morris owns 12.59%.

The Swansea Supporters’ Trust hold a 9.42% stake, which includes its protected 5% share.