Bournemouth owner Maxim Demin is in advanced talks over the sale of the south-coast club to Bill Foley as another Premier League side are set to be taken over by an American businessman.
It is understood that Foley is heading the takeover, which would see the 77-year-old take a 100 per cent stake of the club. Foley, who owns National Hockey League side Vegas Golden Knights, has reportedly already appointed US-based firm Montminy & Co to identify potential buyers or investors.
Talks are believed to be underway and there has been a growing sense around the club in recent months that Russian owner Demin is prepared to sell. According to Sky Sports, the club are close to completing the deal and it is thought it could be done before the World Cup starts in November.
Foley attended the United States Military Academy as a youngster and made $40,000 on the stock market while a cadet. He invested that money during his spare time, and upon leaving the Air Force, Foley moved into corporate law upon earning his J.D. from the University of Washington in 1974.
He has since invested in wineries, golf courses, hotels, ski resorts, steak houses, fast-food restaurants and auto parts manufacturers - accumulating a net worth of $1.2bn and now launching a bid for a Premier League football club. In 2016, Foley took over at Vegas Golden Knights and owns them to his day.
If a deal goes through, half the Premier League would have American owners. Most recently, Chelsea were purchased from owner Roman Abramovich by billionaire businessman Todd Boehly and investment company Clearlake Capital in deal that was worth £4.25billion. Arsenal, Aston Villa, Crystal Palace, Fulham, Leeds, Liverpool and Manchester City also have Americans who have a majority or minority shareholding.
Despite the talks behind Bournemouth's change in ownership, Gary O'Neil has admitted he is "not involved" in any discussions and believes his focus is firmly on Saturday's trip to Newcastle. Asked about the proposed takeover, the former Portsmouth and West Ham midfielder said: "I am not involved in any sort of discussions like that.
"I have been hard at work over the other side on the grass. Takeovers and discussions of that level are obviously a long way from my mind and what I’m focused on, which is Newcastle. It’s going to be a big test."
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Put to him that Cherries' reported ownership situation could put him in line for more games in charge, O'Neil replied: "I’m not sure. I haven’t considered anything around takeovers, discussions upstairs, my position. Whatever that is it is. I am just fully focused. Literally, every minute of my day is taken up by how we go about Newcastle. Since I heard the Brighton game was off."
Bournemouth will looking to secure their second successive Premier League win when the Cherries take on Newcastle at St James' Park. O'Neil took charge of the Cherries on an Interim basis after Scott Parker was relieved from his duties following a 9-0 defeat at Liverpool.
It was a result that left Bournemouth on the brink of the relegation zone, although reports suggest the reason behind Parker's departure was unrelated to football reasons. O'Neil has since led the Cherries to a goalless draw against Wolves, before their impressive win at the City Ground.
