Michael B. Jordan is an actor, director, producer and now, owner of a sports team.
On December 13, AFC Bournemouth announced that the Black Knight Football Club have acquired the club from former owner Maxim Demin, according to the club. news post. As a member of the minority ownership group, Jordan became co-owner of AFC Bournemouth – making the acquisition his “first foray into professional sports ownership.
He and his partner, Nullah Sarker, are expected to work closely with Bill Foley, managing partner of the Black Knight Football Club, for the global marketing and internationalization of the club.
According to the announcement, Foley is joined by limited partners, including a 50.1% stake for Cannae Holdings Inc. In addition, other investors who have invested in the National Hockey League (NHL) Vegas Golden Knights, owned by Foley.
Bloomberg reports that Cannae Holdings Inc. will pay $126 million for the stake.
“I have tremendous respect for the passion and support the Bournemouth community shows for this club and believe that connecting to the community is the foundation of any sports team’s success,” Foley said in a statement, according to the information message.
“We will move forward with an ‘always forward, never back’ approach that has defined all of my efforts,” he continued. “I am committed to working with the best minds in football and business available to improve player development, facilities and the fan experience to put AFC Bournemouth in the best possible position to succeed.”
Before selling his 100% stake, Demin owned AFC Bournemouth for 11 years.
“Without the belief and financial support of Maxim and his family, AFC Bournemouth might well have ceased to exist,” Foley said. “Maxim’s support and involvement have enabled the club to establish itself as a top-flight team. We would like to thank him for his cooperation throughout the process and praise his hard work as the owner of the club. We wish him well as he concentrates on his other business pursuits..”
With the new acquisition, Black Knight Football Club plans to begin construction of a state-of-the-art training facility and increase financial commitment to AFC Bournemouth women’s and women’s teams.
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