AFC BOURNEMOUTH OWNERS COMPLETE EXETER CHIEFS TAKEOVER

Cannae Holdings' Black Knight Rugby have completed their acquisition of Exeter Chiefs, becoming the first United States-based group to take control of a top-flight English rugby union side. The deal, understood to be worth approximately £25m, was approved by the club's members in a vote held last month. Exeter Chiefs finished as runners-up in the Premiership final this month.

Black Knight Rugby's investment marks the company's first venture into rugby union, though it holds stakes in other sports organisations including French football club FC Lorient and Auckland FC in New Zealand. The takeover follows a period of significant investment in English rugby's top flight, with Red Bull purchasing Newcastle Falcons in August and businessman James Dyson acquiring a 50 per cent stake in Bath, the current Premiership champions. Exeter Chiefs were two-time Premiership champions and won the European Champions Cup in 2020.

The club was previously owned by its members, who held voting rights over major decisions including the change of ownership. No further details regarding the structure of Black Knight Rugby's management or future plans for the club have been announced at present.