Bill Foley’s Cannae Holdings Inc expected to complete deal
Billionaire Foley to provide ‘significant’ investment
Exeter’s members have voted in favour of selling the club to the American owners of AFC Bournemouth. Cannae Holdings Inc, part of billionaire Bill Foley’s investment empire which also includes the Black Knight Sports and Entertainment group, is now set to take full control of the Chiefs and provide “significant” multi-million-pound funding
Exeter, who rose from lower-league anonymity to claim a European and domestic title double in 2020, have previously been a members-owned club since their foundation in 1871. At a special general meeting, however, members voted by a comfortable majority to approve the club’s sale with long-time chairman Tony Rowe having negotiated a landmark deal with the new US backers.
“It is just a non-binding expression of interest at this stage but, hopefully, an offer will follow and we can begin negotiating the terms of the sale,” said Rowe. Any offer is dependent on the completion of a 60-day due diligence process that will not be completed before the end of this month.
