Bournemouth Complete Bill Foley Led Takeover – Sport Grill
Bournemouth have successfully completed a takeover led by Bill Foley and various partners.
Club owner, Maxim Demin has sold his 100% stake to Black Knight Football Club, of which Foley is Managing General Partner, alongside a number of limited partners – of which Cannae Holdings Inc. will host a 50.1% stake. –
Various investors who currently are invested in National Hockey League’s Vegas Golden Knights are also involved in the deal.
Whilst the deal was being ratified by Premier League officials, Foley had attended Bournemouth’s win over Leicester in October.
Foley has also confirmed an commitment to providing investment to ensure that the Cherries remain in the Premier League, following their top-flight return this season after two seasons in the Championship.
Amongst planned areas of investment include the playing squad across the senior and junior levels within the men and women’s teams with a new ‘ state-of-the-art training centre’, whilst the Vitality Stadium will receive upgrades where appropriate
Foley has assumed the role of Chairman with immediate effect and will be present at the club’s final home match of 2022, where Gary O’Neil’s Cherries face Crystal Palace on New Year’s Eve (31 December).
“I have tremendous respect for the passion and support the Bournemouth community shows for this club and believe that connection to the community is the foundation for success of any sports team,” commented Foley upon confirmation of his takeover.
Addressing supporters on future plans, Foley said: “We will move forward with an ‘always advance, never retreat’ approach that has defined all of my endeavours.
“I am committed to work with the best football and business minds available to enhance player development, facilities, and the fan experience to put AFC Bournemouth in the best possible position to succeed.”
Foley also acknowledged the work that Demin had produced in 11 years as owner which saw the club go from League One to England’s top-flight, plus suffer relegation at end of 2019-20 before successfully regaining promotion in May 2022 after losing the play-offs in 2020-21 season.
Paying tribute to Demin for his dedication to Bournemouth, Foley issued the following statement: “Without the belief and financial backing of Maxim and his family, AFC Bournemouth might well have ceased to exist. Maxim’s support and involvement has allowed the club to establish itself as a top-flight team.
“We’d like to thank him for his co-operation throughout the process and praise his hard work whilst owner of the club. We wish him well as he focusses on his other business endeavours.”
Bournemouth’s first match under Foley’s ownership will see the Cherries face ex manager – Eddie Howe and Newcastle United at St James’ Park on Tuesday 20 December in a 7:45pm GMT kick-off in the Carabao Cup, after the match was brought forward due to ambulance strikes on 21 December.