Key facts
- Foley's Black Knight Football Club owns AFC Bournemouth and has acquired other global sports teams.
- Michael B Jordan is a minority shareholder in Black Knight Football Club.
- Exeter Chiefs requires 75% member support for the sale to be ratified.
Bill Foley, the owner of Premier League football club AFC Bournemouth, is set to acquire English rugby union team Exeter Chiefs in a multimillion-pound deal. Foley's investment vehicle, Black Knight Sports and Entertainment, will bring its multisport investment strategy to the rugby club, aiming to replicate the success seen with Bournemouth. The deal requires formal ratification by Exeter's members at an extraordinary general meeting on May 7, with 75% support needed. Exeter's chair, Tony Rowe, is selling the club due to personal funding limitations after over 30 years of involvement. Foley, who made his fortune in the insurance industry, has built a significant portfolio of sports teams under the Black Knight umbrella, including AFC Bournemouth, French club Lorient, New Zealand's Auckland FC, and Moreirense in Portugal.