Morris joins Swansea City board

2 years ago 66
ARTICLE AD BOX
New Swansea chairman Andy ColemanAndy Coleman was named Swansea City chairman in May.

Swansea City have appointed British businessman Nigel Morris to their board after confirming his investment in the Championship club.

Morris, the co-founder of finance firm Capital One, will become a minority shareholder with an injection of cash believed to be close to £10m.

It comes after Swansea also secured investment from US businessman Andy Coleman who became chairman last month after buying a "significant shareholding" in Swansea.

Coleman said: "We will continue to ensure that the club remains financially stable and positioned for long-term success and this investment helps improve the club's financial position."

Swansea's board had been keen to attract new investment and have been involved in talks with Morris over the past six months.

It does not represent a takeover at the Welsh club, although the shareholding of others - including majority shareholders Steve Kaplan and Jason Levien - will be diluted.

Currently a managing partner at QED Investors, Morris is said to have Welsh heritage and he said: "I'm delighted to have invested in Swansea City. The club has superb facilities and is front and centre of the community.

"The supporters are the most important part of any club, and I have been taken aback by the passion and integrity shown by the many people I have already met on a number of recent visits to matches.

"I hope I can play a part in Swansea City's future success, and I am very much looking forward to working closely with Andy and club executives to embrace short and long-term objectives."

Coleman added: "Nigel has great credentials and a wealth of business acumen that will be invaluable to the club going forward as we work together to achieve success both on and off the pitch.

"We will continue to ensure that the club remains financially stable and positioned for long-term success and this investment helps improve the club's financial position.

"I've spoken with Nigel on many occasions, and we are fully aligned in our vision of a shared commitment of helping to deliver success for the football club."

Swansea are currently without a chief executive with Julian Winter leaving the club, although that is yet to be formally announced.

Paul Watson, chief operating officer at Luton Town, is expected to be named Swansea's new sporting director.

Read Entire Article