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.
Newcastle were taken over by Red Bull at the start of this season. Sir James Dyson has pledged millions into Bath to become joint co-owner alongside Bruce Craig. Earlier last week, Northampton received a multi-million pound cash injection from financier Steve Zander and now the Chiefs are set to be taken over by Foley, who acquired Bournemouth in December 2022.
As well as the Premier League club, the multi-sport group also own FC Lorient in France, Auckland FC in New Zealand and National Hockey League team the Las Vegas Knights. It also has majority interest in Moreirense FC in Portugal and a 25% stake in Hibernian FC in Scotland.
When Foley took over at Bournemouth, he outlined his philosophy 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.”
In a recent interview with the Guardian, Rowe urged his fellow Prem owners to “wake up and smell the coffee” regarding the recent move to franchise the top tier of English rugby and attract greater investment.
“I think it will put us in a really good place to take advantage of the future,” Rowe, 77, said. “Whether you like it or not, professional sport is all about money. We need money to survive.
“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.”