In a significant development for English rugby, the shareholders of Premiership side Exeter Chiefs have given the green light to pursue a potential sale to the American ownership group that controls Premier League football club Bournemouth. The decision was made following a meeting where members voted in favor of allowing formal negotiations to begin.
The prospective new owners are Black Knight Sports and Entertainment, a subsidiary of Cannae Holdings Inc. This group already has a strong foothold in European sports, having completed their takeover of Bournemouth in late 2022. Their portfolio also includes a stake in French football club FC Lorient and full ownership of New Zealand's Auckland FC.
Exeter's chairman and chief executive, Tony Rowe, was careful to manage expectations, emphasizing that the shareholder vote does not constitute a firm offer. He described it as a "non-binding expression of interest" that opens the door for an official bid and subsequent negotiations over the terms of any potential sale.
The path to a completed deal is not immediate. Exeter has confirmed that any formal offer will be contingent upon a thorough 60-day due diligence process. This investigative period is not expected to conclude before the end of May, meaning fans and stakeholders will have to wait for more concrete news.
This move places Exeter among a growing list of Premiership clubs attracting significant external investment. It follows closely on the heels of their regional neighbors, the Cornish Pirates in the second-tier Championship, announcing investment from an American firm. Furthermore, the Premiership has seen Newcastle acquired by Red Bull and Bath receive major funding from billionaire Sir James Dyson within the last year.
The timing of this potential takeover aligns with a period of structural change for the league itself. The Premiership, which underwent a rebranding last summer, has plans to expand its number of teams from 10 to 12 starting in the 2029 season. Concurrently, the league intends to abolish the traditional system of automatic promotion and relegation.
On the field, Exeter Chiefs are currently in a strong position. The club, which last claimed the Premiership title in the 2019-20 season, sits in fourth place in the standings after 14 games this campaign. Their next fixture is a match against Bath scheduled for Sunday.
Based on reporting from SkySports | News.