Shareholders of Prem Rugby side Exeter Chiefs have approved takeover talks with the American owners of Premier League club Bournemouth.
Exeter members and shareholders gathered at a meeting on Thursday, at which they voted by a majority to permit the sale of the company to Cannae Holdings Inc’s (Black Knight Sports and Entertainment).
Exeter chairman and chief executive Tony Rowe said: “This does not represent a firm offer.
“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.”
Black Knight, who completed a takeover of Bournemouth in December 2022, also want to take full ownership of Exeter.
Exeter confirmed that any offer will be dependent on a 60-day due diligence process that will not be completed before the end of May.
Black Knight also hold a stake in French football club FC Lorient and own New Zealand side Auckland FC.
The announcement comes just days after Exeter’s neighbours Cornish Pirates, who play in the second-tier Champ, announced American firm Stonewood Capital Management as investors in the club.
Highlights from the Premier League match between Bournemouth and Crystal Palace.
Exeter could become the third Prem team to receive significant investment across the last year, with Newcastle having been bought by Red Bull last August, and billionaire Sir James Dyson having put funding into Bath in March.
The Prem, which was rebranded last summer, plans to expand from 10 to 12 teams from 2029 while also doing away with automatic promotion and relegation.
Exeter, who last won the Prem title in the 2019-20 season, are fourth in the standings after 14 games and next face Bath on Sunday.