Bill Foley, the preferred bidder for the A-League license in Auckland during a press conference at Shed 22, Princes Wharf in Auckland, New Zealand on Tuesday November 21, 2023. Photo credit: Andrew Cornaga / www.photosport.nz

Auckland A-League owner one step away from another club

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Sport

Author: Will Toogood,
Publish Date: Wed, 13 Dec 2023, 11:54AM

Bill Foley is one step closer to acquiring an ownership stake in another football club following his acquisition of the Auckland A-League license.

Hibernian FC in the Scottish Premiership are hopeful the Scottish Football Association will green light Foley’s investment with “written consent” for the American billionaire to purchase a minority stake in the club.

Due to dual interest rules, Hibs require sign off from the Hampden Park board before Foley can become officially involved. These are judged case-by-case with the understanding from UK media that representatives from Hibs have presented to the governing body.

It is thought a Friday meeting between the SFA board and the A-Leagues licencee will eventuate in the investment plans being ratified and while the amount Foley will be investing is unknown Hibs are valued at around $30.5 million (£14.9m).

When Foley spoke at the announcement of the Auckland A-League club he highlighted the multi-club approach that is starting to take shape.

“This is going to be a pathway for a lot of young people to move up, get into the A-League and then perhaps move on, go to Scotland.

“If they can go to the top of the pyramid, then they go to Bournemouth in the Premier League. We have teams that we’re working with right now in terms of making investments in Scotland and in the Netherlands. So it’s a multi-club strategy”.

Foley and his group Black Knight Sports & Entertainment are no stranger to the world of sports ownership.

Most famously, in 2016, Foley and his consortium paid a reported expansion fee of $828 million for the National Hockey League’s (NHL) latest team, the Vegas Golden Knights.

In six seasons in the NHL, the Knights have had remarkable success. They were the fastest expansion team to win a Stanley Cup, doing so in 2022, and have made the playoffs five times in their six seasons. Foley’s companies also own a number of second-tier sports franchises in the United States.

In 2022, Foley and a group of investors purchased AFC Bournemouth from owner Maxim Demin. Reports indicate $248m was paid for the team through another company, Black Knight Football and Entertainment (BKFE).

Further, Foley and BKFE subsequently purchased a 33 per cent stake in French Ligue One team FC Lorient. Foley’s companies have also been linked to clubs in Belgium and Brazil. Like other multi-club owners, Foley will look to use vertical integration to take a pyramid approach, with Bournemouth at the top. In a short time, he has become a popular figure at the Cherries due to his willingness to invest in players.

Will Toogood is an Online Sports Editor for the NZ Herald. He has previously worked for Newstalk ZB’s digital team and at Waiheke’s Gulf News, covering sports and events.