Swansea City's £110m takeover by American businessmen Jason Levien and Steve Kaplan has been agreed by all concerned.

After almost 12 months of negotiations, the final legal documents have been concurred and all those involved in the deal have received contracts for signature.

The two new majority shareholders Levien and Kaplan are expected to fly to London early next week to complete the Premier League's owners' and directors' test.

Jason Levien is a former chief executive of NBA side the Memphis Grizzlies

That test can take up to 10 days to complete, which would mean final ratification of Kaplan and Levien's purchase of a 60 per cent stake in the Swans could be made by June 10.

The deal is worth approximately £110m, and the group will invest between £30m and £50m in the Liberty Stadium, training facilities and playing staff.

Swansea finished the 2015/16 Premier League season in 12th place

It is thought the Supporters' Trust, which owns more than 21 per cent of the club, will remain as the second largest shareholders, and Huw Jenkins will continue in his role as the club's chairman.

Levien is managing general owner of the Major League Soccer club DC United and the former chief executive of NBA side Memphis Grizzlies.

According to reports in the US, Kaplan has been a minority owner of the Grizzlies and has wanted to own a professional sports team for a number of years.