Billionaire finalises takeover of Leeds United’s Premier League rivals as major clubs remain on the market

The takeover was completed on Tuesday after it was ratified by the Premier League. Foley is the managing general partner of Black Knight Football Club and attended the Cherries’ league win over Leicester City in October.

Foley, 77, will take on the role of chairman at Bournemouth and plans to be in attendance against Crystal Palace on December 31. He is the founder and owner of NHL outfit Vegas Golden Knights, who are the first major league sports club in Las Vegas.

In a statement, Bournemouth say Foley is “committed to increased investment” in the senior squad alongside issuing financial commitments to the club’s women’s 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,” said Foley in a 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.”

Demin had been Bournemouth owner for 11 years, overseeing the club’s rise from League One into the Premier League.

The sale has gone through amid recent reports that owners at both Liverpool and Manchester United are exploring possible sales of their clubs.

The latest development in Leeds United’s ownership came in November 2021 when it was announced American investors 49ers Enterprises had increased their minority stake in the Elland Road outfit to 44 per cent. Andrea Radrizzani still holds a majority 56 per cent shareholding at Elland Road through Aser Ventures.

Bournemouth are one place and one point above Leeds in the Premier League table ahead of the division’s return to action later this month. It remains to be seen if new ownership at Bournemouth will see an increase in transfer funds as they look to move themselves away from the relegation zone.