AFC Bournemouth
Black Knight Football and Entertainment, LP acquisition · 7 Oct 2022
- Seller
- Maxim Demin
- Stake acquired
- 100%
- Control
- Yes
- Reported consideration
- ~€138m
- Implied equity value
- €138m
- League
- Premier League
- Country
- England
- Confidence
- MEDIUM
Buyer profile: Black Knight Football Club: clubs owned, where they buy next
Black Knight Football and Entertainment, LP acquired 100% of AFC Bournemouth from Maxim Demin, announced 7 Oct 2022, closing 13 Dec 2022.
Reported consideration was ~€138m. That implies a 100% equity value of €138m (calculated by us). A further ~€124m was announced as an investment commitment.
Nearest pre-acquisition revenue was €62m (FY 2021/22), an equity value / revenue multiple of 2.23x.
- Announced
- 7 Oct 2022
- Closed
- 13 Dec 2022
- Stake after transaction
- 100%
- Status
- completed
Reported consideration
What the buyer reportedly paid for the stake
Implied 100% equity value
Calculated: consideration ÷ stake acquired
Reported club valuation
Enterprise value
Only shown when debt/cash near the transaction date is established
Debt assumed / restructured
Primary capital injection
Total announced investment commitment
Commitments are not purchase price and not valuation
Nearest pre-acquisition financial year: 2021/22
Revenue
Wages
EBITDA
Net debt
Net income
Bill Foley's Black Knight Football and Entertainment (BKFE) partnership acquired 100% of AFC Bournemouth from long-time owner Maxim Demin, with terms reportedly agreed around early October 2022 (no primary-sourced exact date found — Dorset Live places it 'early October', hence announcement_date is REPORTED not CONFIRMED) and completion on 13 December 2022 after Premier League owners'-and-directors' clearance.
- Cannae Holdings Q4 2022 shareholder letter (SEC EDGAR) ↗Tier 1 · primary filing
2023-02-28 — “'In the fourth quarter, Cannae entered into an agreement to acquire a 50.1% limited partner interest in BKFE, a partnership led by our Chairman William P. Foley, II. Cannae's aggregate commitment is approximately $133 Million, of which $52 Million was funded in the fourth quarter of 2022.' Confirms BKFE (Black Knight Football and Entertainment) acquired AFC Bournemouth in December 2022.”
- SportsPro — 'Bournemouth acquired by Bill Foley in UK£120m deal' ↗Tier 4 · specialist media
2022-12-13 — “Black Knight Football Club purchased a 100% stake in AFC Bournemouth from Maxim Demin in a deal worth UK£120 million ($147.6m); Cannae Holdings holds a 50.1% limited-partner stake; minority group led by Michael B. Jordan and Nullah Sarker.”
- Football365 — '£120m Bournemouth takeover is complete' ↗Tier 5 · specialist media
2022-12-13 — “Confirms £120m reported deal value, 100% stake from Maxim Demin, Cannae Holdings 50.1% interest, Michael B. Jordan-led minority group, completion 13 December 2022.”
- Dorset Live — 'Bournemouth 'advance' as Foley pays a visit' / takeover state-of-play coverage ↗Tier 5 · local media
2022-10-09 — “Reports Foley's planned £120m takeover 'moved a step closer to completion after he agreed terms with current owner Maxim Demin' in early October 2022, subject to Premier League ratification. No exact calendar date for the agreement is given; announcement_date recorded here is approximate and REPORTED-level only.”
- Sky Sports — 'Bournemouth takeover: American businessman Bill Foley's consortium completes purchase worth over £100m' ↗Tier 3 · top media
2022-12-13 — “Completion confirmed 13-14 December 2022 following Premier League owners' and directors' test; Foley becomes chairman via Black Knight Football Club; Demin sells 100% stake after 11 years; Michael B Jordan/Nullah Sarker lead minority group.”
- Henderson Silver Knights (Foley-affiliated team site) republishing 'Partnership Led by Bill Foley and Cannae Holdings, Inc. Acquires AFC Bournemouth' release ↗Tier 1 · primary company
2022-12-13 — “Republished official completion release naming 'Black Knight Football Club' vehicle led by Foley as General Partner, Cannae Holdings as limited partner, Michael B. Jordan and Nullah Sarker leading the minority ownership group; notes Jordan's first sports ownership foray and commitment to a new training facility.”
- The Swiss Ramble — 'Bournemouth Finances 2021/22' ↗Tier 4 · specialist media
2023-03-01 — “Analysis of AFC Bournemouth Ltd's Companies House-filed FY2021/22 accounts: revenue £53m (down from £72m), wages £61m (up from £57m), pre-tax loss £56m (vs £17m profit prior year), player-sale profit down from £56m to £7m.”