Thursday 30 October 2014 14:35, UK
A former owner of a Major League Baseball franchise is in talks to invest in Swansea City, sources have told Sky Sports News HQ.
It is understood that John Moores, former owner of the San Diego Padres, is in negotiations.
Moores, a 70-year-old entrepreneur, owned the MLB franchise for 18 years before selling his stake for a reported £500 million two years ago.
Swansea City, who have not confirmed the identities of potential investors, released a statement on Tuesday and said: “The club is talking to a number of parties who have expressed an interest in possibly investing in the club in some form.
"This includes commercial activities, plus the possibility of assisting with the likes of stadium expansion and training ground developments. Part of that investment may eventually include the exchange of a ‘small’ percentage of club shares as an incentive to those interested parties.”
The club said investment discussions were at “an early stage” and added:
“The board of directors believes they have proved over the years that the decisions they make are in the club’s and fans’ best interests.
"This philosophy is a priority and any future investment will only be accepted if it is right for the club and fans.
"Swansea City Football Club is in the fortunate position that it does not need to be forced into making any decisions it believes are not right and could be detrimental to the club’s current and future success.”
