Significant Investment for the Cherries
Bournemouth FC has witnessed a substantial financial move with a £67 million injection through a new share issue, as per a recent Companies House submission. The club, now under the ownership of Black Knight Football, has issued 67.2 million new shares, priced at £1 each, though it remains unclear if this is fresh capital or a conversion of existing debt.
New American Ownership Making Waves
Since the takeover by American businessman Bill Foley and Cannae Holdings in 2022, Bournemouth has seen a notable uptick in investment. This latest share issue follows a previous £25 million share release in August, cumulatively taking the season’s investment past the £92 million mark.
Debt and Financial Outlook
The club’s gross debt was reported at £184 million in the latest 2021/22 accounts, with a significant £165 million owed to former owner Maxim Denim. Updated financial figures for the 2022/23 season are anticipated shortly, as Premier League clubs are mandated to disclose their accounts by the end of December.
Impact on Transfer Window and Future Plans
The capital raised from the share issue may bolster Bournemouth’s budget for the ongoing January transfer window. Additionally, the club is pursuing off-the-pitch ventures, including a potential minority investment in Scottish club Hibernian, with Foley eyeing a £6 million investment to extend his sports portfolio and establish a multi-club network.
Stadium Development in the Pipeline
Foley has also unveiled plans for a new £90 million stadium, citing the current Vitality Stadium’s limited 11,300 capacity as ‘inadequate’ for the club’s ambitions.
On the Pitch: Bournemouth’s Firm Stance on Player Assets
In related news, Bournemouth is set to stand firm against January bids for their 26-year-old star player, signaling a strong intent to retain key talent amidst the club’s financial and infrastructural developments.