Bill Foley-led group acquires English soccer club
Golden Knights owner Bill Foley has added another professional sports team to his growing portfolio.
The Foley-led Black Knight Football Club group acquired English soccer club AFC Bournemouth, the team announced Tuesday. The club plays in the Premier League, the top division in English soccer, which features 20 clubs.
Foley told the Las Vegas Review-Journal the price of the transaction is $123.7 million, with an additional payment at the end of the season of $24.7 million, contingent on if the team stays in the Premier League.
Aside from the Knights and Bournemouth, Foley also has ownership stake in the AHL Henderson Silver Knights and the Indoor Football League’s Vegas Knight Hawks.
Foley plans to construct a state-of-the-art training facility for the team and to infuse money into the Bournemouth women’s team and girls’ teams.
“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,” Foley said in a statement. “We will move forward with an ‘always advance, never retreat’ approach that has defined all of my endeavors. 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.”
As part of the deal, Foley becomes chairman of the team and will be in attendance at Bournemouth’s next home game against Crystal Palace on Dec. 31.
Showing his commitment to the team, Foley bought a home in England, the team said.
Foley’s group acquired the team from Maxim Demin, who owned the club for 11 years. A minority ownership group was part of the transaction with Black Knight Football Club that includes actor Michael B. Jordan.
“Without the belief and financial backing of Maxim and his family, AFC Bournemouth might well have ceased to exist,” Foley said. “Maxim’s support and involvement has allowed the club to establish itself as a top-flight team.”
Contact Mick Akers at makers@reviewjournal.com or 702-387-2920. Follow @mickakers on Twitter.