Exeter Chiefs back Bournemouth owners takeover talks

Exeter Chiefs’ members and shareholders have voted to approve takeover talks with Black Knight Sports and Entertainment, the US-led group that owns Premier League club AFC Bournemouth.The decision authorises a potential sale of all shares in the Premiership Rugby club to Black Knight, which is controlled by US businessman Bill Foley via Cannae Holdings.Exeter chairman and chief executive Tony Rowe said: “This does not represent a firm offer. It is just a non-binding expression of interest at this stage but, hopefully, an offer will follow and we can begin negotiating the terms of the sale.”Black Knight is now conducting due diligence, with the process not expected to conclude before the end of May.If completed, the deal would mark a rare cross-sport ownership move in English rugby, putting a top-flight club under the control of an ownership group best known for football assets and venue-led sports investing.Black Knight took over Bournemouth in 2022 and also holds stakes in French club FC Lorient and Auckland FC, adding an established multi-club element to its portfolio.The transaction sits inside a wider investment reshuffle in Premiership Rugby as clubs look for fresh capital and more resilient business models amid rising player costs, stadium operating expenses and pressure on central distributions.Premiership Rugby is also in the middle of a strategic reset, with plans to expand the league from 10 to 12 teams from 2029 and a shift away from automatic promotion and relegation, moving closer to a franchise-style structure.Exeter have combined rugby operations with a broader events and conferencing business at Sandy Park, and any new ownership will be judged on its appetite to fund squad competitiveness alongside infrastructure and non-matchday revenue growth.The next step is completion of the due diligence phase, with an offer and negotiations on final terms required before any change of control can be confirmed.