BILL FOLEY has signed the “final paperwork” to complete his £120million takeover of Premier League outfit Bournemouth, according to reports.
The American billionaire, 77, has a reported net worth of £1.2 billion.
And according to talkSPORT, he will shell out £120m to buy Bournemouth after months of negotiations with long-standing owner Maxim Demin.
Foley himself is at the Vitality Stadium on Saturday for the Cherries’ Prem clash against Leicester City and was all smiles ahead of kick-off.
Bournemouth are currently floating around mid-table having picked up nine points from their eight games played.
The Vegas Golden Knights owner will appoint himself chairman when the takeover is approved and he plans on splashing the cash on a new state-of-the-art training facility.
READ MORE IN FOOTBALL
Funds will also be provided in the January transfer window to try and help the Cherries steer clear of relegation.
There are long-term plans to either redevelop Bournemouth’s 11,364-seater Vitality Stadium or build a brand new ground.
Foley also has ambitions of building a multi-club dynasty, by buying clubs in Belgium and France.
Interim-manager Gary O’Neil is expected to stay in charge at least until the purchase is fully complete.
Most read in Football
HOW TO GET FREE BETS ON FOOTBALL
Chief executive Neill Blake and technical director Richard Hughes will keep their jobs under Foley
The pair are looking at managerial candidates to take up the post long-term.
Source: Soccer - thesun.co.uk
