AFC Bournemouth announce takeover

AFC Bournemouth have announced the takeover of the club by a partnership led by Bill Foley, managing director of NHL team Vegas Golden Knights.

The 77-year-old American businessman and philanthropist becomes chairman of the Cherries with immediate effect.

He takes over from Maxim Demin, who had been at AFC Bournemouth for 11 years and had overseen the club's rise from League One to the Premier League in fewer than five seasons.

"I have tremendous respect for the passion and support the Bournemouth community shows for this club and believe that connection to the community is the foundation for success of any sports team," Foley told the club's official website.

"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."

Foley has an extensive background in sports including success as the founder and owner of the Golden Knights, the first major league sports team in Las Vegas.

The club say he has bought a home in the local area and will be attending their next home match, against Crystal Palace on 31 December.

The minority ownership group that is partnering with Foley is led by the award-winning actor, director and producer Michael B. Jordan.

The takeover has been approved by the Premier League Board.

"This follows the completion of the Premier League's Owners' and Directors' Test which has enabled the club to be sold with immediate effect," read a Premier League statement.

"The club's new owners and directors have also signed the Premier League's Owners' Charter."

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AFC Bournemouth have a trip to Chelsea on Tuesday 27 December when the Premier League returns at Christmas.