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Post by rugbytoffee on Sept 15, 2022 10:12:10 GMT
Financial news outlet Bloomberg have reported that Premier League football club AFC Bournemouth are up for sale.
The news agency have reported that “people familiar with the matter” have stated that AFC Bournemouth are “reviving an attempt to sell the club”.
According to the report…
“Owner Maxim Demin has appointed California-based advisory firm Montminy & Co. to help oversee a sale of the club and is “seeking an acquirer to capitalize on the club’s ongoing success,” according to a document on the process — codenamed “Project Goal”.
It added…
“Bournemouth could be valued at £130 million ($150 million) or more in any sale, according to Kieran Maguire, a lecturer in football finance at the University of Liverpool.
“US investors in particular have been seeking deals for English football clubs, partly attracted by an appreciating dollar exchange rate against the pound. They’re also drawn in by cheaper valuations relative to sports franchises in America and the strong earnings potential from competing in the world’s richest football league.
Russian Businessman Maxim Demin has now been involved with AFC Bournemouth for well over a decade.
He first purchased Jeff Mostyn’s 44% and Steve Sly’s 6% share of the football club and became then AFC Bournemouth chairman Eddie Mitchell’s 50-50 partner, back in November 2011.
At that stage, he had been a regular visitor during the Cherries promotion season from the fourth tier of English football.
Having been co-owner during the Cherries promotion from the third-tier of English football, in September 2013 he bought out former owner Eddie Mitchell and became the sole owner of AFC Bournemouth.
In November 2015, shortly after winning promotion from the second tier of English football and earning a place in the Premier League, Demin sold 25% of the football club to Chicago-based company Peak 6, however that relationship didn’t last long with Demin repurchasing the shares in January 2019.
Demin remains in sole control of AFC Bournemouth, having successfully steered the club through two seasons that were heavily hit by the Covid-19 pandemic, which saw crowds banned from stadiums, compounded by relegation from the Premier League.
The 2021/22 season saw crowds return and with it, AFC Bournemouth’s status as a side in the top flight of English football, winning promotion back to the Premier League in May 2022.
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