Exeter Chiefs are set to be taken over by the billionaire owners of AFC Bournemouth pending a vote of the Gallagher Prem club’s members at an extraordinary general meeting (EGM) next month.
Black Knight Football Club, a consortium that features the Hollywood actor Michael B Jordan and is headed by the American businessman Bill Foley, acquired Bournemouth in December 2022. It also owns Lorient in France and has a majority stake in Portuguese club Moreirense.
Foley is chairman of Fidelity National Financial, Cannae Holdings and Black Knight Financial Services. Forbes estimates his wealth at $2.6 billion (£1.92 billion). Ryan Caswell, an associate of Foley, represented the Black Knight consortium at Exeter’s game against Northampton Saints at Sandy Park on Saturday, sitting next to the Chiefs chairman, Tony Rowe.
Michael B Jordan with FoleyAlamy
It is thought the sale of Exeter will be ratified if it is voted through by 75 per cent of Exeter members, who number about 700. They can vote by proxy at the EGM. Sources suggested that Exeter trustees will have plans presented to them over the coming week.
Black Knight’s interest in English rugby union continues a period of impressive financial consolidation after Red Bull’s purchase of Newcastle in August last year. James Dyson acquired a 50 per cent ownership stake in Bath a month ago and Northampton were boosted by the arrival of a new minority investor in Steve Zander.
Rowe, 77, has publicly sought new owners and told The Guardian last week that it was time for English clubs to “wake up and smell the coffee” as they look towards a franchised top tier.
“I’ve effectively run a business for the last 30-odd years for a shareholder who’s got no money,” Rowe said. “What I’m looking forward to is an investor who’s got some money. That’ll be a massive difference for me.”