US billionaire and Las Vegas Golden Knights NHL owner Bill Foley has ‘verbal agreement’ to buy Bournemouth for £120m
AMERICAN businessman Bill Foley reportedly has a verbal agreement in place to buy Bournemouth.
The 77-year-old owner of NHL side the Vegas Golden Knights is set to take over the Cherries in a deal worth £120million.
And the process is set to be finalised in the coming days, according to The Athletic.
Foley is worth over $1billion (£894m) and is the chairman of one of America’s biggest insurance companies, Fidelity National Financial.
He is set to become the second American in a matter of months, following Todd Boehly, to take over a Premier League team.
Fellow Prem sides Arsenal, Aston Villa, Crystal Palace, Fulham, Leeds, Liverpool, AND Manchester United all also have US-based owners.
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Bournemouth can now be added to that list as a consortium fronted by Foley nears a takeover.
The American flew to the UK earlier this week and watched the Cherries train today.
He is also set to be in the stands to watch the home clash against Leicester on Saturday.
It emerged last month that Foley was in talks to buy the south coast side from Maxim Demin.
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While Sunsport exclusively revealed last month his impending takeover was set to give the Premier League a major headache.
Foley’s company are major investors in Eagle Football, the firm run by fellow American football nut John Textor, a major shareholder in Crystal Palace.
And the Premier League would have had to investigate the links between Foley and Textor as, under their rules, the latter cannot have an interest in two PL clubs.
Now though it appears as though any potential problems have been ironed out, with Foley reportedly set to officially take over in the coming days.
SunSport also exclusively revealed that caretaker boss Gary O’Neil will be given more time when Foley takes over the reigns.
The soon to be owner will review the squad and manager situation in January.