Billionaire completes takeover of Leeds United's PL rivals with Hollywood star new part-owner

The Cherries have announced that owner Maxim Demin has sold his 100 per cent stake in the club to Black Knight Football Club, of which Bill Foley is the Managing General Partner, with a number of limited partners including a 50.1 per cent interest for Cannae Holdings Inc., and certain other investors – many of whom invested in the Vegas Golden Knights. The minority ownership group is led by Hollywood actor, director and producer Michael B Jordan and also Nullah Sarker.

American billionaire Foley attended Bournemouth’s 2-1 victory at home to Leicester City at the start of October and the deal to buy the club has now been ratified by the Premier League. The Bournemouth Daily Echo are reporting that the deal to acquire the Cherries is worth a reported £120m. Foley is the founder and owner of the National Hockey League’s Vegas Golden Knights, the first major league sports team in Las Vegas.

Foley, 77, has also purchased a home in the local area and will attend the club’s next home match at home to Crystal Palace on New Year’s Eve. Foley told afcb.co.uk: “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.

“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.”