Bournemouth Owner Bill Foley Set to Expand Football Portfolio with New Zealand Franchise
Bournemouth owner Bill Foley is on the verge of acquiring an expansion franchise in New Zealand’s largest city, Auckland. Foley, who is the managing partner of Black Knight Football Club, has been named as the preferred bidder for the Australian Professional Leagues (APL) expansion franchise. This move comes after Foley’s recent acquisition of Bournemouth and investment in French side Lorient.
The APL announced its plan to add new teams in Auckland and Canberra earlier this year, with the two franchises set to join the men’s and women’s divisions next year. Auckland will join Wellington as New Zealand’s A-Leagues outposts, increasing the total number of teams from 12 to 14.
Foley’s familiarity with New Zealand stems from his successful wine-making business, Foley Family Wines, which owns six vineyards in the country. Additionally, Foley Hospitality owns 10 bars and restaurants in New Zealand, and another Foley company owns a luxury country estate near Wellington. With his extensive business interests in the country, Foley is well-positioned to expand his football portfolio.
The news of Foley’s latest purchase comes shortly after the Ryan family, Chicago-based billionaires, acquired a minority stake in Black Knight. The Ryans, who also own a minority stake in the National Football League’s Chicago Bears, join Hollywood star Michael B. Jordan as Foley’s football partners.
While this will be Foley’s first expansion team in football, he has previously brought the National Hockey League to Las Vegas in 2017 with the launch of the Vegas Golden Knights. The team reached the Stanley Cup finals in their inaugural season and won the title this year.
Foley faced competition from Marc Mitchell, a New Zealand-based American lawyer and entrepreneur, who initially led the race for the Auckland franchise. Mitchell is a minority investor in Auckland’s New Zealand Breakers, a basketball team that competes in Australia’s National Basketball League. However, Foley’s greater financial resources ultimately secured him the bid.
Black Knight is still actively seeking additional clubs to fulfill its multi-club vision. Belgium, Brazil, and Scotland are among the countries where Foley and his team may consider investing next.
In a previous interview with The Athletic, Foley discussed his ambitions for Bournemouth and his multi-club model. He emphasized his desire to provide opportunities for players in Ligue 1 to move to the Premier League, while also wanting Lorient to succeed and potentially play in Europe. Foley’s goal is to create a pathway for players to develop and move up the ranks within his football portfolio.
While Foley’s expansion plans are progressing, there are concerns about Bournemouth’s Premier League status. The team currently sits at 19th place in the table and has yet to secure a win this season. Their upcoming league game against Wolves on October 21 will be a crucial test for the team, as they aim to climb up the rankings under the leadership of new manager Andoni Iraola.
In conclusion, Bill Foley’s acquisition of an expansion franchise in Auckland demonstrates his commitment to expanding his football portfolio. With his extensive business interests in New Zealand and his successful track record in sports ownership, Foley is well-positioned to make a significant impact on the football landscape in both New Zealand and beyond. As he continues to pursue additional clubs for his multi-club vision, it will be interesting to see where Foley’s ambitions take him next.