Bournemouth owner moves into Croatia

Bournemouth owner Black Knight Football Club is in advanced talks to buy a 25 per cent stake in last year’s Croatian double-winners HNK Rijeka.

Founded by American insurance billionaire Bill Foley, Black Knight bought Bournemouth in 2022 before adding a minority stake in French side Lorient and winning the bid to become the majority owner of A-League expansion side Auckland FC in 2023.

The following year, Foley’s group bought a minority stake in Scotland’s Hibernian and a controlling stake of Portuguese side Moreirense.

Earlier this year, Black Knight entered into a “strategic affiliation” with Major League Soccer’s Orlando City and is now on the verge of adding a sixth and, most likely, final piece to its multi-club group.

The investment in Rijeka, which was first reported by Croatian outlet Nepresusan, would give Black Knight a foothold in Eastern Europe, as well as a relationship with a club that has enjoyed considerable success in recent years.

But Black Knight likes what it sees in Rijeka’s ability to spot local talent and has already sold them Bournemouth academy product Daniel Adu-Adjei this summer, a move that will give the 20-year-old English forward a chance to prove himself in a competitive European league.

For their part, Rijeka will gain access to Black Knight’s global network of data analysts and scouts, as well as Foley’s financial firepower, which has already seen infrastructure improvements started at all of his clubs.

By taking less than 30 per cent of the club, Black Knight should avoid the recent difficulties other multi-club groups have had with UEFA when more than one of their sides have qualified for the same European competition. It also leaves current owner Damir Miskovic in overall control of the club he rescued from financial collapse in 2012.

Now 80, Foley made his fortune in insurance and financial services, before branching out into golf courses, restaurants, ski resorts, wineries and, eventually, sports teams. His first first was National Hockey League expansion team Vegas Golden Knights, who joined the league in 2017, were instantly competitive and won the Stanley Cup in 2023.

While many other American-backed multi-club groups have floundered in recent seasons, Black Knight has gone from strength to strength, with Bournemouth finishing ninth in the Premier League last season, Auckland winning the A-League’s regular-season crown, Hibs coming third in Scotland, and Lorient returning to Ligue 1 as champions.

He has also enjoyed considerable recent success in his day job as an investor, with his investment firm Cannae Holdings making $630million this week on the sale of American data analysis firm Dun and Bradstreet to Clearlake Capital, the majority owner of Premier League side Chelsea.

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The Political Economy of Football V2

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