Premier League owners close in on Gallagher Prem club takeover
Rugby NewsSunday, 19 April 2026 at 09:03
The owners of AFC Bournemouth are set to take over Exeter Chiefs, in a move that signals growing cross-sport investment into rugby union.
Black Knight Football Club — led by billionaire Bill Foley and backed by actor Michael B. Jordan — has won the race to buy the Premiership side.
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What happens next?
The deal now goes to a vote.
Exeter’s members will decide the club’s future at an extraordinary general meeting on May 7 at Sandy Park.
- Around 700 members eligible
- 75% majority required
- Approval needed to complete takeover
Deal details
Foley, who also chairs Cannae Holdings, has built a multi-sport portfolio that already includes Bournemouth.
His associate Ryan Caswell was in attendance at Sandy Park over the weekend, sitting alongside chairman Tony Roweduring the defeat to Northampton Saints.
The process, led by Oakwell Sports Advisory, drew:
- 30 initial bids
- Cut down to 12 serious parties
- Exclusivity granted to Black Knight
Not unprecedented — but still significant
While this is a major moment, it is not entirely without precedent.
Sir John Hall previously owned both Newcastle United and Newcastle Falcons, showing cross-code ownership has existed before.
However, this deal reflects a modern trend of global investment groups entering rugby, particularly from US-backed consortiums.
Why it matters
For Premiership Rugby, this is another sign of financial recovery after a turbulent period.
The league lost Wasps, Worcester Warriors and London Irish during the 2022–23 season.
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