Bournemouth owners near Exeter Chiefs takeover
Black Knight’s ownership group at AFC Bournemouth is closing in on a deal to buy Exeter Chiefs, with the Premiership Rugby club’s members set to vote on the takeover on May 7.
The billionaire ownership group behind AFC Bournemouth is moving towards a takeover of Premiership Rugby side Exeter Chiefs, in a deal that would bring fresh US-backed capital into one of English rugby’s best-known clubs.Exeter’s members are due to vote on the proposed transaction at an extraordinary general meeting on May 7, with the sale requiring a 75% majority of the club’s roughly 700 members.The buyer is expected to be Black Knight Sports and Entertainment, the multi-sport investment platform linked to Bill Foley, whose Black Knight Football Club acquired Bournemouth in late 2022 and has built a broader portfolio across football.Chiefs chair Tony Rowe has been open about the need to bring in a new investor after decades of financial backing, as Premiership Rugby continues to tighten standards and push clubs towards more sustainable models.Rowe said: “I’ve effectively run a business for the last 30-odd years for a shareholder who’s got no money. What I’m looking forward to is an investor who’s got some money. "That’ll be a massive difference for me. I think it will put us in a really good place to take advantage of the future. Whether you like it or not professional sport is all about money. We need money to survive.”The deal has been in negotiation for months, with reports suggesting Exeter previously engaged with a large number of potential suitors before agreeing terms with the US group.Cannae Holdings, Foley’s investment vehicle, is understood to provide much of the funding behind Black Knight’s wider sports interests.Black Knight’s football holdings include FC Lorient in France and Auckland FC in New Zealand, and the group has also been associated with stakes in other clubs during its expansion.A senior Black Knight figure, Ryan Caswell, was also seen at Sandy Park alongside Rowe during Exeter’s 35–28 home defeat by Northampton Saints, further signalling the deal’s proximity.If completed, the transaction would make Exeter the latest Premiership Rugby club to attract significant external investment as the league looks to reset its financial base and improve long-term resilience.Red Bull has entered the English rugby market via Newcastle, while Bath have brought in new capital after entrepreneur James Dyson took a 50% stake.Northampton have also recently added a new minority investor, reinforcing a shift towards private capital and multi-asset sports ownership structures.The investment trend is being driven by persistent cost pressure, limited central distributions, and the need to modernise commercial performance, matchday operations and player pathways under tighter league oversight.Exeter’s sale is also notable because of their historic members’ structure, with formal ratification required before control can change hands.The immediate next step is the May 7 member vote, after which the parties can move to implementation and governance changes if the required threshold is met.