Bill Foley, the American billionaire who owns AFC Bournemouth, is set to take control of Exeter Chiefs in a multimillion-pound deal. The club's new owner will be Black Knight Sports and Entertainment, Foley's multisport investment company, which also includes Hollywood actor Michael B Jordan as a minority shareholder.
Exeter's chair, Tony Rowe, confirmed the sale after months of negotiations, during which the club had been in touch with at least 80 potential buyers. Rowe, who has been involved with Exeter for over 30 years, said he could no longer personally fund the club's ambitions. 'I've put in an extraordinary amount of money to keep the club alive but it's not fair on my family,' he told the Guardian.
The deal still requires formal ratification at an extraordinary general meeting on 7 May, with support from 75% of the club's approximately 700 members needed. Exeter's trustees are set to meet early next week to review further details.
Foley, who made an estimated $2bn in the insurance industry, has built a multi-club sports empire including the Vegas Golden Knights NHL team and several football clubs. His Black Knight Football Club owns Bournemouth, Lorient, Auckland FC, and Moreirense, and has used data-driven strategies to achieve success, including Bournemouth's record Premier League finish last season.
