Sports
Swansea City Seeks £50 Million to Aid Football Club’s Growth
Harry Darling of Swansea City celebrates scoring a goal during a match against Queens Park Rangers FC in London, on April 21.
Photographer: Warren Little/Getty ImagesSwansea City AFC, the second tier football team, is seeking to raise £50 million ($67 million) in equity to accelerate the Welsh club’s growth.
Swansea City, which counts Croatian footballer Luka Modrić and rapper Snoop Dogg among its backers, could be valued at £160 million after the fundraising, according to investor documents reviewed by Bloomberg News. The club owners plan to use the proceeds on raising wages and acquiring players, as well as for expansion of real estate and hospitality facilities such as the fan zone.