Chairman Tony Rowe is set to outline why Exeter Chiefs members should approve the sale of the club
AFC Bournemouth club owner Bill Foley . (Photo by Robin Jones – AFC Bournemouth/AFC Bournemouth via Getty Images)
Exeter Chiefs are set to join Premier League football side AFC Bournemouth in being owned by USA financial services billionaire Bill Foley.
Foley’s multisport investment company, Black Knight Sports and Entertainment, are set for a multimillion-pound purchase of the Gallagher PREM club, provided the deal is signed off by the rugby club’s approximately 700 members at an extraordinary AGM next month.
Among the investors in The Black Knight Football Club, which owns AFC Bournemouth, is Oscar-winning actor Michael B. Jordan, also known for his title role in the Rocky spin-off films Creed. The consortium bought the Premier League football team back in December 2022 for £100m.
Foley, who is 81, is estimated to be worth £1.92 billion and is the chairman of investment firm Cannae Holdings, Fidelity National Financial and Black Knight Financial Services.
Cannae Holdings is understood to provide most of the multi-club group’s funding and is behind the bid for exeter -chiefs>Exeter Chiefs. The company’s chief executive, Ryan Caswell, was at Sandy Park today, sitting next to current chairman Tony Rowe during the thrilling 35-28 defeat to Northampton Saints.
The vote by Exeter Rugby Club’s members can be made by proxy or in person on the night of the extraordinary general meeting on May 7, and a 75 per cent majority will be required to sanction the sale. What is certain is that change is required as 77-year-old Rowe is looking for an exit from the club, having ploughed his personal fortune into Chiefs for decades despite not owning the club.
Black Knight’s other sports holdings include the Stanley Cup-winning NHL franchise, the Vegas Golden Knights, French League 1 club Lorient, New Zealand’s Auckland FC and Moreirense in Portugal.
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