afc Bournemouth Sale Completed
Premier League football club AFC Bournemouth has been taken over by a consortium led by Las Vegas-based businessman Bill Foley.
Foley becomes the latest American to invest in English football’s highest division after completing a purchase worth over £100m.
Previous owner Maxim Demin has sold his 100% stake in the Cherries to Foley’s Black Knight Football Club, with the Russian-born British businessman Demin departing the club after 11 years as owner. In that period he has taken the club from EFL League One to the Premier League.
Foley has a reported net worth of £1.2bn and is the owner of National Hockey League ice hockey franchise the Vegas Golden Knights. The 77-year-old will assume the role of Chairman and attend the Cherries’ next home match, against Crystal Palace on 31st December.
Foley commented, “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.
“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.”
Hollywood actor Michael B. Jordan is also part of the ownership group, in what is his first professional sports investment.
Foley has already revealed his plans to expand the Vitality Stadium and develop the training ground on the south coast. The new owner is also expected to give head coach Gary O’Neil funds for new signings ahead of the January transfer window.
After a slow start to the season, AFC Bournemouth currently sit 14th in Premier League.
