Bill Foley, Bournemouth owner, purchases a stake in Lorient French club
American businessman Bill Foley purchased a stake at Lorient in France, which was announced Friday by the Ligue 1 side.
The financial details of this deal are not known, but Loic Fery, the owner and president since 2009 of the club, spoke out to the daily Ouest France about a capital rise of 10 million euros ($10.8m).
Fery stated that the new shareholder would have 40% of the capital by the end of this summer.
Foley and Foley’s partners from Black Knight Football and Entertainment (BKFE), a group that owns 100 percent Bournemouth’s shares, made the deal.
Foley, who is 77, also owns and operates the NHL ice hockey franchise Vegas Golden Knights
Lorient, which had been struggling for two years, returned to Ligue 1 in 2020. Regis Le Bris is their new coach and they are now sixth.
Fery stated that “we are not going play in the Champions League because of a new shareholder.” “But, the strengthening of our capital as well as our shareholder base will allow us to continue the positive results.”
Foley, a veteran of the Air Force, made his fortune through finance and investments in wine, hotels, and sports.
He was one of those investors that John Textor brought together to buy Lyon French Club, but the banks refused his share.
According to British media outlets, Foley’s stake at Brittany Club is the first step towards a long-term takeover.
Fery insists that he will remain the primary shareholder of the club until 2026, which is the club’s centenary.
He said that it was not a withdrawal from my part but a strategy for strengthening the capital of club, and insisted Lorient were not going “a subsidiary club” of Bournemouth.
He stated that there will be synergies in the future, especially regarding marketing and training. Gateways may also be available to allow players to join the Premier League, if everyone agrees.
The Brittany club’s identity could be lost, so this will not be a comforting statement for the fans.
Fery, who is based in London, said that the fear was still present when he arrived.
He added that “the link with the peoples of Lorient and family spirit of the “Hakes” remain inscribed in stone.”
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