Bill Foley has completed his takeover of Bournemouth from Maxim Demin after the deal was ratified by the Premier League. The American businessman’s company Black Knight Football Club has taken 100% ownership.
Foley will assume the role of chairman and is due to attend the next home match, against Crystal Palace on New Year’s Eve. He owns and founded ice hockey’s Vegas Golden Knights and his takeover means that more than half the Premier League’s clubs have minority or majority US shareholders.
- Download the Guardian app from the iOS App Store on iPhone or the Google Play store on Android by searching for 'The Guardian'.
- If you already have the Guardian app, make sure you’re on the most recent version.
- In the Guardian app, tap the Menu button at the bottom right, then go to Settings (the gear icon), then Notifications.
- Turn on sport notifications.
“We will move forward with an ‘always advance, never retreat’ approach that has defined all of my endeavours,” Foley said. “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 is the managing general partner of Black Knight, where minority owners include the American actor Michael B Jordan and Nullah Sarker, who is involved with tennis’s Davis Cup. Bournemouth said Jordan and Nullah would work closely with Foley “in areas including global marketing and internationalisation of the club”.
Demin exits after 11 years as owner and with Bournemouth 14th in the top flight, having overseen a rise from League One.
The takeover means 11 Premier League clubs have US shareholders: Arsenal, Aston Villa, Bournemouth, Chelsea, Crystal Palace, Fulham, Leeds, Liverpool, Manchester City, Manchester United and West Ham.
Bournemouth said: “Bill is committed to increased investment in AFC Bournemouth’s first team as well as the academy and fan experience at 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.”
Black Knight is 50.1% owned by Cannae Holdings, of which Foley is the chairman.
