American businessmen Jason Levien and Steve Kaplan have completed their £110m takeover of Swansea City, subject to Premier League approval.

The two new majority shareholders have purchased a 60 per cent controlling stake and are expected to invest between £30m and £50m in the Liberty Stadium, training facilities and playing staff.

Levien and Kaplan need to pass the Premier League's owners' and directors' test before the takeover can be officially ratified.

The Swansea City Supporters' Trust will remain as the second largest shareholder with 21.1 per cent.

Chairman Huw Jenkins and vice-chairman Leigh Dineen will remain in their roles, but keep a reduced part of their holdings in the club which are 13.2 per cent and 5.3 per cent respectively.

Jason Levien (pictured) and Steve Kaplan have completed their takeover of Swansea, subject to Premier League approval

"Swansea City Football Club is delighted to confirm the takeover by Jason Levien and Steve Kaplan subject to the approval of the Premier League," a club statement 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.

"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.

Huw Jenkins will remain as Swansea's chairman and will continue to run the club on a day-to-day basis

"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."