Bill Foley Led Partnership Acquires AFC Bournemouth
AFC Bournemouth has confirmed the sale of the club to Black Knight Football Club led by American businessman Bill Foley.
Bournemouth’s former owner Maxim Demin completed the sale of his 100% stake in the club to Black Knight Football Club, of which Bill Foley is the Managing General Partner, along with a number of limited partners including a 50.1% interest for Cannae Holdings Inc.
The deal, which has now been ratified by the Premier League, also includes other investors many of whom invested in Las Vegas NHL franchise, Vegas Golden Knights, founded and owned by Foley.
The takeover brings with it a commitment to increased investment in AFC Bournemouth’s first team as well as the academy and fan experience at the Vitality Stadium, on top of immediately beginning construction of a state-of-the-art training centre and increasing financial commitment to the AFC Bournemouth women’s team and girls’ teams.
Assuming the role of Chairman with immediate effect, Foley will be attending the club’s next home match, against Crystal Palace on 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,” he 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.”
Maxim moves on after 11 years as AFC Bournemouth’s owner, a run which included the club’s ascension from League One to the Premier League in less than five seasons.
Foley added: “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.”
The minority ownership group is led by award-winning actor, director and producer Michael B. Jordan and Nullah Sarker (The Players Tribune, Davis Cup). AFC Bournemouth is Michael’s first foray into professional sports ownership, as he and Nullah will work closely with Foley in areas including global marketing and internationalisation of the club.
Image: AFC Bournemouth
