Foley chairs both Black Knight and Cannae Holdings, with Forbes estimating his wealth at $2.6 bn (£1.92 bn). Ryan Caswell, an associate of Foley, represented the Black Knight consortium at Exeter’s dramatic defeat by Northampton Saints on Saturday, sitting next to the current Chiefs chairman and owner, Tony Rowe, at Sandy Park.
It is understood that Oakwell, the sports advisory boutique managing the sale, received 30 expressions of interest from investors globally which was narrowed down to 12 interested parties. Then, exclusivity was granted to Foley’s consortium in the US, who have investments across several sports, including the Premier League’s Bournemouth. One source with knowledge of the deal said: “It is so, so positive for the Prem. This is only the beginning. Many others will follow suit.”
The news of Black Knight’s takeover marks an unprecedented development in the Prem’s history, with one of its clubs poised to be owned by a Premier League equivalent. In recent months, several top flight clubs in English rugby have announced new investment, as the league, financially, recovers from the perils of the 2022-23 season, when three teams – Wasps, Worcester and London Irish – all went to the wall.