American Bill Foley in advanced talks to buy Bournemouth

Another American businessman is making a move to buy a Premier League club, this time in the form of Bournemouth.

Current AFC Bournemouth owner Maxim Demin entered advanced talks to sell his team to a group led by Bill Foley. Foley, 77, is the current owner of National Hockey League’s Las Vegas Golden Knights. Also, he serves as chairman of Fortune 500 company Fidelity National Financial.

Foley held talks with Demin to take over the south-coast club throughout the summer. As negotiations continue, both sides hope to wrap up a deal prior to the upcoming World Cup. The group led by the American businessman would have 100% stake of the club. There are no concrete numbers available, yet. However, reports indicate that the sale figure hovers in the area of about $170 million.

Despite being in long negotiations, Demin spent around $30 million on new players during the summer transfer window. Moreover, the Russian-British businessman went through with plans to overhaul the team’s training ground. First phase of this development began in June and includes a domed indoor field.

The UK government did not target Demin due to his economic ties petrochemicals. Previously, the UK went after former Chelsea owner Roman Abramovich for his ties to Russian President Vladimir Putin following the Russian invasion of Ukraine. Abramovich sold the club to an American, Todd Boehly.

American looking to buy Bournemouth

American owners in the Premier League have garnered a lot of attention over the years. Rumblings have intensified more recently due to comments made by new Chelsea owner Todd Boehly. Boehly made headlines this week when he made suggestions to Americanize the Premier League.

While Bournemouth remains in talks with a potential new owner, the club is also currently in search for a manager. Interim boss Gary O’Neil, however, claims that he is just focusing on coaching. “Obviously I’m not involved in any discussions like that,” O’Neil said during a press conference on Friday. “Takeovers and discussions of that level are obviously a long way from my mind and what I’m focused on, which is Newcastle. It’s going to be a big test.”

If the deal goes through, Foley will become the 10th American owner in the Premier League. Although two of these owners do not currently have a majority stake in their clubs.

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