American businessmen Jason Levien and Steve Kaplan have completed their takeover of Swansea City, the club confirmed on Sunday.

The duo will lead an investment consortium which has acquired a controlling majority of the shares, with several existing shareholders taking a reduced stake in the club.

While the size of Levien and Kaplan's stake has not been announced, they were reported to be chasing 60 per cent.

Swansea City Supporters Trust's 21.1 per cent stake is unaffected by the takeover, while chairman Huw Jenkins will continue to run the Liberty Stadium outfit.

Levien has experience in the football industry as the managing general owner of MLS side DC United, while Kaplan is the executive vice-chairman of the NBA's Memphis Grizzlies.

The takeover is subject to approval from the Premier League.

Following years of financial uncertainty, a consortium of local businessmen and fans led by former player and director Mel Nurse in 2002 wrestled control of the club from Tony Petty, who had become a hated figure in the city after his three-month stint in charge almost saw the Swans go out of business.

After narrowly avoiding relegation from the Football League at the end of the 2002-03 season, the club embarked on a stunning rise through the divisions, moving from the Vetch Field to the Liberty Stadium along the way and eventually reaching the Premier League via the Championship playoffs in 2011.

Swansea collected its first major silverware in 2013 when it lifted the League Cup.

It is expected Levien and Kaplan will invest in the playing staff as well as the stadium, which is owned by the local council.