American businessman Foley completes takeover of Bournemouth

Bournemouth have been taken over by Black Knight Football Club led by American businessman Bill Foley, the Premier League side announced on Tuesday after former owner Maxim Demin sold his 100 per cent stake and the league ratified the deal.

Foley, chairman of Fidelity National Financial and owner of National Hockey League outfit Vegas Golden Knights, is joined by a number of partners including a 50.1 per cent interest for Cannae Holdings Inc. and other investors, Bournemouth said.

The minority ownership group is led by Hollywood actor Michael B. Jordan.

"Bill is committed to increased investment in Bournemouth's first team as well as the academy and fan experience at Vitality Stadium," the club said in a statement.

They added plans were on to begin construction of a state-of-the-art training centre and increasing financial commitment to the women's team and girls' teams.

Russian-born British businessman Demin had in 2019 assumed full ownership of the club after acquiring an initial stake.

The club, who are 14th in the standings with 16 points from 15 games, sacked Scott Parker as manager in August before naming interim boss Gary O'Neil as his replacement last month.