American duo Steve Kaplan and Jason Levien have completed the takeover of Swansea City, subject to the approval of the Premier League.
Kaplan, the co-founder of Oaktree Capital Group and vice chairman of the NBA's Memphis Grizzlies, and D.C. United managing general partner Levien have purchased a controlling interest in the club.
Sources told ESPN.com that the deal was on the table back in April, and now it has been confirmed.
A statement on Swansea's official website read: "Jason and Steve will lead an investment consortium which has acquired a controlling majority of the shares with several existing shareholders also maintaining a smaller stake in the club.
Swans takeover confirmed subject to Premier League approval https://t.co/fAgSnyZg01
- Swansea City AFC (@SwansOfficial) June 5, 2016
"The shareholding of the Supporters' Trust remains unaffected. The agreement concludes a lengthy negotiation process and will see Huw Jenkins remain in an executive role and charged with the day-to-day running of the Club. Huw will also maintain an ownership stake in the club.
"Jason and Steve have vast experience in running sporting franchises in America. Jason is managing general owner of MLS side, DC United while Steve is the executive vice-chairman of the Memphis Grizzlies in the NBA.
"Both see the takeover of Swansea City as an exciting opportunity for long-term growth in the club in every area.
"There is a huge level of respect for and a huge desire to build on the outstanding work of Huw Jenkins and his fellow board members who, alongside the Supporters' Trust, rescued the Swans and transformed them into a highly-respected Premier League club.
"All parties expect the takeover to be fully sanctioned by the Premier League in the coming weeks."
Swansea are on the most successful six-year run in the history of the Welsh club, starting with an 11th-place finish in 2011-12 in their first season in the Premier League.
Swansea followed that promising debut with finishes of ninth, 12th and eighth -- including a historic League Cup triumph in 2013 -- and rose to 12th after a slow start this season following Francesco Guidolin's arrival after the sacking of Garry Monk.