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Swansea City sources have described reports in India that Formula 1 team owner Vijay Mallya is ready to spend £110million on acquiring the club as "absolute nonsense".

Mallya, owner of the Force India team as well as Indian Premier League cricket side Royal Challengers Bangalore, was said to have been ready to make an offer for the Swans.

The reports came exactly a year after Steve Kaplan and Jason Levien’s consortium completed their takeover of the Premier League club.

The pair have repeatedly dismissed suggestions they will only be at the club for the short term, making clear at a meeting with supporters that they plan to be at the helm of the club for several years.

And WalesOnline has been told there is no desire to sell the club after just 12 months.

Levien, Kaplan and chief operating officer Chris Pearlman have all been with the first-team squad during the current pre-season tour of America.

The Indian authorities are attempting to extradite Mallya from the UK. He faces charges in his homeland including fraud. He has denied all charges against him.

A Swansea source said: "This is absolute nonsense and we have no idea where these reports have come from."