The owner of an NHL franchise has completed the purchase of a European soccer club.
Vegas Golden Knights owner Billy Foley and a consortium of investors have finalized their acquisition of Premier League club AFC Bournemouth in a deal worth $150.7 million.
In September, Bournemouth hired California-based investment bank and financial advisory firm Montminy & Co. to facilitate a sale of the club. A month later, Bournemouth and previous owner Maxim Demin reached a verbal sale agreement with the Foley-led group of investors.
- The takeover was completed through Foley’s Black Knight Sports and Entertainment.
- Bournemouth’s new ownership regime includes “Creed” actor Michael B. Jordan.
- The deal puts half of the Premier League’s 20 clubs under American ownership.
Bournemouth was promoted to the Premier League this year after the club finished second behind Fulham in the English Football League Championship for the 2021-22 season.
Bournemouth projects revenue to reach $172 million in 2023, up from $136 million in 2022.
Bournemouth adds to several recent takeover deals in the Premier League.
In October 2021, a consortium led by Saudi Arabia’s Public Investment Fund acquired Newcastle United for $409 million. In May, a group led by Los Angeles Dodgers, Lakers, and Sparks part-owner Todd Boehly purchased Chelsea for $5.2 billion.