Newcastle United's next opponents Bournemouth will be buoyed for their trip to Tyneside after Bill Foley completed his takeover at the south coast club. Maxim Demin has sold his 100% stake in the club to Black Knight Football Club, of which Foley is the Managing General Partner, with a number of limited partners including a 50.1% interest for Cannae Holdings Inc., and certain other investors many of whom invested in the Vegas Golden Knights.
Celebrities Michael B. Jordan and Nullah Sarker are also part of the takeover in a minority group. Foley will assume the role of Chairman with immediate effect but will not be present on Tyneside for the Cherries' Carabao Cup clash with Newcastle.
He will attend the club’s next home match, against Crystal Palace on 31 December. Having also purchased a home in the local area, Foley has reaffirmed his commitment to the football club and surrounding community.
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“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 success of any sports team,” he said in a club statement.
“We will move forward with an ‘always advance, never retreat’ approach that has defined all of my endeavours. I am committed to work 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.
“Without the belief and financial backing of Maxim and his family, AFC Bournemouth might well have ceased to exist. Maxim’s support and involvement has allowed the club to establish itself as a top-flight team.
"We’d like to thank him for his co-operation throughout the process and praise his hard work whilst owner of the club. We wish him well as he focusses on his other business endeavours.”
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