An American consortium led by Bill Foley has finally completed the takeover of AFC Bournemouth from former owner Maxim Demin following the blessing of the Premier League.
77-year-old Foley also boasts a substantial investment in sports, with notable successes as the owner and founder of the National Hockey League’s Vegas Golden Knights.
The 100-million pounds takeover was the subject of a verbal agreement between Foley and Maxim a few months ago, with Foley promising to upgrade the club’s stadium and training facilities.
Following the official announcement by the club, Foley said: “I have tremendous respect for the passion and support the Bournemouth community shows for this club and believe that connection to the community is the foundation for the success of any sports team.
“We will move forward with an ‘always advance, never retreat’ approach that has defined all of my endeavours. I am committed to working with the best football and business minds available to enhance player development, facilities, and the fan experience to put AFC Bournemouth in the best possible position to succeed.”
The takeover will signify an end to Maxim Demin’s 11 years reign as the owner of the 14th-placed EPL club.
