Donovan McNabb and the State of Football
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.
