The American consortium behind Premier League football club AFC Bournemouth is on the brink of acquiring a controlling stake in Premiership rugby side Exeter Chiefs, signaling a major shift in English rugby's ownership landscape.
Black Knight Football Club, which purchased Bournemouth in late 2022 and holds investments in French club FC Lorient and New Zealand's Auckland FC, has emerged as the leading candidate to take over the Devon-based rugby franchise. The deal would mark the latest in a series of high-profile investments transforming English rugby's top tier.
Exeter members are scheduled to vote on the proposed takeover during an extraordinary general meeting in May. If approved, the Chiefs would join Newcastle Falcons—recently acquired by energy drink giant Red Bull—and Bath Rugby, where businessman James Dyson recently secured a 50% stake, as clubs benefiting from substantial external investment.
Senior sources within English rugby have indicated to BBC Sport that several other Premiership clubs have attracted interest from potential investors. This comes as the league prepares to enter a new era following its decision to implement a ring-fenced structure and overhaul both on-field and off-field standards.
The negotiations gained visibility last Saturday when Black Knight board member Ryan Caswell attended Exeter's dramatic 35-28 defeat to Northampton Saints as a guest of Chiefs chairman Tony Rowe.
Rowe, whose business interests have financially supported Exeter for nearly three decades, has been transparent about seeking fresh investment to secure the club's future competitiveness.
"I've effectively run a business for the last 30-odd years for a shareholder who's got no money," Rowe told The Guardian last week. "What I'm looking forward to is an investor who's got some money. That'll be a massive difference for me. I think it will put us in a really good place to take advantage of the future. Whether you like it or not professional sport is all about money. We need money to survive."
The potential acquisition represents a strategic expansion for Black Knight Football Club into English rugby union, adding to their growing portfolio of sports investments across football codes and continents.