Exeter Chiefs members vote in favour of sale to AFC Bournemouth’s American owners

A picture


Exeter’s members have voted in favour of selling the club to the American owners of AFC Bournemouth.Cannae Holdings Inc, part of billionaire Bill Foley’s investment empire which also includes the Black Knight Sports and Entertainment group, is now set to take full control of the Chiefs and provide “significant” multi-million-pound fundingExeter, who rose from lower-league anonymity to claim a European and domestic title double in 2020, have previously been a members-owned club since their foundation in 1871.At a special general meeting, however, members voted by a comfortable majority to approve the club’s sale with long-time chairman Tony Rowe having negotiated a landmark deal with the new US backers.“It is just a non-binding expression of interest at this stage but, hopefully, an offer will follow and we can begin negotiating the terms of the sale,” said Rowe.Any offer is dependent on the completion of a 60-day due diligence process that will not be completed before the end of this month.

Rowe, 77, has been asked to stay on by the proposed new owners and believes the partnership will prove a productive one.“They’re a long-term investor and they understand the sport,” he told the Guardian last month.“I think it will put us in a really good place to take advantage of the future.Whether you like it or not, professional sport is all about money.We need money to survive.

All the stars are aligned to transform English rugby beyond where it is today.It’s really come on in the last few years but we’ve got to move it on financially.”Rob Baxter, Exeter’s director of rugby, is also supportive of the ownership change.“I’m very confident that it’s a positive way forward for the club,” said Baxter.“I think it just keeps the club on a progressive footing and that’s where we want to be.

Premiership rugby clubs are big business now,”The most recent estimate of Foley’s wealth is around $2,6 billion and his previous sporting forays have included some notable successes,His NHL franchise, the Vegas Golden Knights, won the famous Stanley Cup within six years of their competitive debut while Bournemouth have also benefited since joining the Black Knight Football Club, whose shareholders include the Hollywood actor Michael B Jordan, winner of this year’s best actor Oscar for his role in Sinners,Bournemouth currently sit sixth in the Premier League, despite having one of the smallest budgets in the division and a stadium that holds only 11,000.

Black Knight’s use of data and shrewd transfer dealings have been a factor in Bournemouth’s rise and a similar plan is on the cards at Exeter.Ryan Caswell, Cannae Holdings’ chief executive, was at Sandy Park to watch last month’s game against Northampton Saints.
societySee all
A picture

‘Group is a lifesaver’: strangers buy Wetherspoon’s meals for homeless people through app

Carl used to own pubs – several of them – and a string of hotels. Then two years ago, rising costs forced him into bankruptcy. Now he sleeps on the beach in summer, and in winter sits in an all-night McDonald’s nursing a single cup of coffee.Carl’s daughters are in a different part of the country with his ex-wife. To maintain the illusion that he lives a normal life, Carl is careful only to video-call them from the local Wetherspoon’s with a meal and a drink carefully positioned in shot

A picture

London schools trialling VR to relieve pupils’ stress

Schools have begun deploying virtual reality to help pupils cope with stress caused by impending exams, attention deficit hyperactivity disorder or difficult home lives.All 15 secondary schools in the London borough of Sutton are using VR headsets made by tech firm Phase Space in a pilot in conjunction with the local NHS mental health trust.Pupils access the seven-minute-long Phase Space VR programme either in a prearranged slot or when they need to leave a lesson because they have become beset by anxiety.Young people find that immersing themselves in VR, even for such a short period of time, helps them calm down, rebuild their confidence and feel ready to resume their studies. Phase Space has been designed to help “overwhelmed and anxious students”, said Zillah Watson, a co-creator of the programme, who is a former head of VR at the BBC

A picture

‘We can’t live behind walls’: Muslim-Jewish networks will not give up after Golders Green attack

‘I feel punch drunk,” says Laura Marks, the co-founder of Nisa-Nashim, a Jewish-Muslim women’s network, referring to the alleged attempted murder of two Jewish men in north London this week: “Every day it feels like there is something else. It’s relentless.”Nisa-Nashim was set up as a charity eight years ago to bring Jewish and Muslim women together through social events. The idea was to nurture relationships in UK communities that could help overcome the distrust, division and religious stereotyping exacerbated by Israel-Palestine tensions in the Middle East.The violence in Golders Green, the latest in a wave attacks targeting the Jewish community in the UK amid the deepening Middle East conflict, can feel like a demoralising rebuke to voluntary projects such as Nisa-Nashim that for years have been working relentlessly for community cohesion

A picture

Martha’s rule may have saved more than 500 lives in England since 2024

More than 500 people have received potentially life-saving care thanks to Martha’s rule, which gives hospital patients the right to seek a second opinion about their health.They were moved to intensive care or a specialist unit after they, a loved one or a member of NHS staff triggered the patient safety mechanism, which the NHS in England began using in 2024.Martha’s rule lets patients, relatives and staff call a helpline run by the hospital if they are worried about the person’s condition or treatment and ask for a “rapid review” of their care.In the 18 months between September 2024 and February 2026, a total of 524 adults and children about whom concerns had been raised were moved to an intensive care or high-dependency unit, a specialist hospital or a specialist ward at the hospital where they were already an inpatient.Wes Streeting, the health secretary, said the figures proved that Martha’s rule is “already having a life-saving impact”