American businessman Bill Foley leads a consortium that includes Hollywood star Michael B. Jordan in completing the purchase of Premier League side AFC Bournemouth in a deal worth over £100 million.
The Las Vegas-based businessman replaces Maxim Demin as the new owner of the English-based club, becoming the latest American to invest in English football.
Demin became co-owner of AFC Bournemouth with Eddie Mitchell in 2011, reportedly paying £850,000 for his share of the club. In 2015, he sold a 25% stake to Peak 6 Investments and repurchased the share in 2019.
However, Demin has sold his 100% stake in the Cherries to Foley’s Black Knight Football Club after months of negotiation between the parties and a due diligence test by the Premier League.
Foleh is the owner of the National Hockey League franchise, the Vegas Golden Knights, and immediately assumes the position of chairman.
In a statement released by the club, Foley reaffirms his commitment to providing the investment to sustain and build upon Bournemouth’s recent accomplishments.
“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,” 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.”
The Cherries confirmed the appointment of Gary O’Neil as permanent head coach on a one-and-a-half-year deal in November, after he was in charge of 12 matches as interim coach following the sacking of Scott Parker.
Bournemouth are currently 14th in the Premier League table and they won their last two games before the World Cup break.
