• Loading stock data...
Tuesday, July 16, 2024

NHL Owner Agrees to Buy Premier League Club for $134M

  • Bournemouth is owned by Maxim Demin, who became the majority owner in 2013.
  • Demin purchased a 50% stake in the club in 2011 in a deal valued at $975,000.
AFC Bournemouth

The Vegas Golden Knights’ owner has reportedly reached a verbal agreement to buy English soccer’s AFC Bournemouth. 

Fidelity National Financial chairman Bill Foley is prepared to shell out $134 million for the club.

Bournemouth hired California-based investment bank and financial advisory firm Montminy & Co. in September to facilitate a sale of the Premier League team. Within a week of the hiring, Bournemouth held takeover discussions with a group led by Foley.

  • Montminy was reportedly appointed to attract American investors.
  • The agreement puts half of the Premier League’s 20 clubs under American ownership.
  • Bournemouth is owned by Maxim Demin, who became the majority owner in 2013.
  • Demin purchased a 50% stake in the club in 2011 in a deal valued at $975,000.

Foley, who is estimated to have a net worth of just over $1 billion, is expected to finalize the takeover deal in the coming days and will be responsible for hiring a new manager — Bournemouth fired Scott Parker in August following a 9-0 loss to Liverpool. 

Promoted to the Premier League this year after finishing second behind Fulham FC in the English Football League Championship for the 2021-22 season, Bournemouth is expected to generate $172 million in revenue in 2023, up from $136 million in 2022. 

Another Potential Sale

Financier Lars Windhorst is looking to sell his stake in Bundesliga club Hertha BSC. The decision follows allegations that he reportedly hired spies to push out the club’s former president. Windhorst is seeking to sell his 64.7% stake — which he bought earlier this year — for $371 million.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Apr 29, 2024; Baltimore, Maryland, USA; Baltimore Orioles shortstop Gunnar Henderson (2) swings through a first inning solo home run against the New York Yankees at Oriole Park at Camden Yards.

The Home Run Derby Has Become a Big Business Opportunity

New format, narrowing gap with All-Star Game ratings highlight the event’s importance.
Jul 14, 2024; Miami, FL, USA; fans rush the gates before the Copa America Final match between Argentina and Colombia at Hard Rock Stadium.

Copa América Fallout: Greater Logistical Challenges Await 2026 World Cup

Argentina beat Colombia after unticketed fans entered the stadium.
Jun 23, 2024; Pittsburgh, Pennsylvania, USA; Pittsburgh Pirates starting pitcher Paul Skenes (right) reacts as he talks with pitcher Jared Jones (left) after the seventh inning against the Tampa Bay Rays at PNC Park.

The Pirates Are Facing Political Pressure to Play Better

Pennsylvania state representatives call on the MLB club to boost its payroll.
Apr 12, 2024; Sacramento, California, USA; Phoenix Suns guard Grayson Allen (8) and guard Devin Booker (1) and guard Bradley Beal (3) and forward Royce O'Neale (00) and forward Kevin Durant (35) huddle up before the final seconds of the fourth quarter at Golden 1 Center.

The Suns Have Entered the NBA’s Uncharted, Punitive Territory

The NBA’s first $400 million team between payroll and projected luxury tax.
podcast thumbnail mobile
Front Office Sports Today

MLB Draft, ASG Highlight Teams’ Shifting Approach

0:00

Featured Today

Jan 7, 2024; Nashville, Tennessee, USA; Jacksonville Jaguars wide receiver Calvin Ridley (0) reacts after scoring a touchdown against the Tennessee Titans during the first half at Nissan Stadium.

Without Hard-Line Bans, Pro Athletes and Personnel Will Keep Betting on Sports

Penalties often aren’t stringent or consistent enough to deter banned behavior.
Oct 2, 2021; Miami Gardens, FL, USA; NFL commissioner Roger Goddell speaks during the Don Shula Celebration of Life at Hard Rock Stadium.
July 13, 2024

The NFL Is Confident It Can Overturn the Sunday Ticket Verdict

The league may have good reason to believe it can win.
July 8, 2024

NFLPA Report Cards Have Become the ‘Talk of the Locker Room’ Across..

NFLPA report cards have become the ‘talk of the locker room.’
July 7, 2024

The New College Sports Insiders Are Graphic Designers

Joe Tipton and Hayes Fawcett have become premier news-breakers on social media.

NBA and NHL Free Agency: Billions in New Deals Despite Economic Unrest

Rising revenues and salary caps are helping fuel a run of historic contracts.
June 24, 2024

Tiger’s Golf League Hits $500 Million Valuation Before First Swing

TGL will begin play in January 2025.
July 1, 2024

Bobby Bonilla Day: A Look at MLB’s Top Deferral Deals and Ohtani’s Pact

Well beyond Bobby Bonilla, many current and former MLB stars have their own lucrative deferrals.
Sponsored

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
June 13, 2024

The ‘Big’ in Big 12 Could Soon Be Replaced With a Sponsor’s Name

Allstate is said to be in discussions about a deal with the Big 12.
June 13, 2024

Everything You Need to Know About the Schism Rocking Competitive Eating

The business story about hot dogs that you never knew you needed.
June 12, 2024

Saudi Arabia’s Next Big Sports Target: Boxing, With Joint Venture Worth $5B

The Public Investment Fund of Saudi Arabia is focusing on boxing as its next large-scale sports target.
June 11, 2024

Breakthrough? Tiger Says PGA Tour and LIV Golf Are Eyeing ‘End Game’

Woods called a recent meeting ‘productive.’