Swansea City have agreed to buy the Swansea.com Stadium from the local council, 21 years after they moved into the ground.
The Swans first played at the 21,088-capacity venue, formerly known as the Liberty Stadium, in 2005.
2
Swansea Council built the stadium for a reported £27million and have owned it since then.
However, ownership is now set to be transferred to the Championship club, who have had operational control for eight years.
According to council leader Rob Stewart via the BBC, the stadium sale price will exceed a ‘fair open-market value’.
It is also said that Swansea believe their acquisition will allow them to generate more income and draw in further investment.
Major step for Swansea
Top of the club’s ownership structure with a 71.18 per cent stake are Swansea Football LLC, controlled by Brett Cravatt and Jason Cohen.
British businessman Nigel Morris owns 12.9 per cent, whilst Swansea City Supporters Society Ltd have another 6.98 per cent.
Ballon d’Or winner Luka Modric is also part of the ownership group, as well as rap legend Snoop Dogg, who modelled last season’s home kit.
Swansea’s owners want to secure promotion back to the Premier League, which they last featured in during the 2017/18 campaign.
“It’s very difficult for them (the club) to do that if they’re not in control of the asset,” said Stewart.
The purchase of their stadium marks a significant boost towards that goal as they head into a ninth consecutive Championship season.
2
Swansea’s Premier League wait goes on
Following relegation from the top flight in 2018, Swansea have come close to returning on two occasions.
They reached the Championship play-offs in 2020 and 2021, but lost in the respective semi-finals and final.
Since then, they have only finished as high as tenth in the second tier, with 11th being their final standing for last season.
Swansea’s hopes of promotion will be boosted in the new season due to the introduction of two extra play-off places.
Teams finishing third to sixth normally enter the play-offs, but now seventh and eighth will also be involved.
Third and fourth enter the semi-finals, whilst fifth face eighth and sixth take on seventh in one-match eliminators to reach the last four.
