BILL Foley is the name on everyone’s lips after it was announced the American businessman was fronting a group in exclusive talks to take over Cherries – but who is Foley, and why does he want to buy the club?
Reports from the Athletic state that Foley’s consortium have entered exclusive talks with current owner Maxim Demin regarding a takeover, with the Russian UK citizen looking for £150m in return for the club.
A former Captain in the US Air Force, Foley is currently chairman of the Vegas Golden Knights, a National Hockey League franchise formed in 2016.
The expansion fee of $500million was believed to have largely been paid by Foley himself, who as of 2022 had a net worth of $1.2billion according to Forbes in April.
Whilst newly created sides in American sports usually fare poorly, the Golden Knights reached the finals of the Stanley Cup in their first NHL season, reaching the playoffs in each of the first four years of their existence.
In a recent interview with the Las Vegas Review Journal, Foley described the team ethos of the Golden Knights as an “… identity of never giving up, never giving in and being a team”.
In that same interview, Foley indicated his intentions to be more hands on with the day-to-day running of the hockey club after missing out on the playoffs last season, stating: “I’m going to be a bit more proactive than I have been.
“I’ve always been invited to all the meetings.
“They take my input, but I try and stand aside when everyone is convinced something needs to be done.
“This time, after all these years, I’ve got a few specific ideas of things that I believe need to be accomplished.
“If I’m being very transparent, I’m going to be active.”
The Las Vegas Review Journal also described the 77-year-old as having an “image as a hands-on owner”.
Hockey was not the Florida-based businessman’s first foray into owning a sports team, as he also looked into purchasing the Jacksonville Jaguars, an NFL side based in the city he currently calls home.
In the end the American football team was sold to Fulham owner Shahid Khan.
Earlier this summer, Foley and his company, Cannae Holdings, announced that they had submitted a non-binding letter of intent to invest in Eagle Football Holdings’ attempted buy out of French giants Lyon.
Eagle Football Holdings are owned by another American, John Textor, who currently has a 40 per cent share of Crystal Palace in his portfolio of European football teams.
Foley has clearly looked into purchasing a European based side, sharing in a statement at the time: “We have spent a significant amount of time analyzing (sic) professional soccer in Europe and are excited to announce that we intend to invest with John Textor in Eagle Football.”
Textor’s bid to buy Lyon has still not come to fruition despite the two parties entering exclusive negotiations, with Foley yet to commit any of the $523million mentioned in the statement of intent.
Cherries’ current owner Demin has not been one for the limelight, and it appears Foley, although more amenable to the press, is another to prefer to get on with his businesses without being the centre of attention.
In an interview with American publication Sports Illustrated he claimed: "I'd never taken a selfie” when a fan asked him for a picture shortly after the announcement of his new franchise.
At the time, he explained: "I don't like being out in front of people, having to be on all the time and talking.
"I'm more reclusive."
Foley went on to describe himself as a “serial acquirer” in regards to his business interests, his dabbling in sports following a successful detour into vineries after making his money in the insurance business.
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