The owners of Premier League club Bournemouth have successfully completed their takeover of Exeter Chiefs, marking a significant milestone as Black Knight Rugby becomes the first US-based group to control a top-flight side in English rugby. The deal, valued at approximately £25m, follows a vote from Exeter's members last month approving the transition.

Tony Rowe, Exeter's chief executive, expressed his excitement, stating, "If you had to choose an investor in the world of sport, you could not choose better than Black Knight. I am absolutely over the moon." Rowe will continue in his role and collaborate with William P Foley, vice-chairman of Cannae Holdings, and chief executive Ryan Caswell to form a new executive board.

Rowe highlighted the partnership's potential, saying, "Black Knight's partnership from both a capital and operational perspective will allow Exeter Chiefs to move into the franchise era with ease." He acknowledged the growing financial burden he faced, expressing optimism for a bright future under new ownership.

This takeover aligns with broader changes in English rugby, as a new franchise system is set to replace traditional promotion and relegation. Black Knight, already successful in sports ownership, aims to replicate their proven strategies at Exeter.

Exeter Chiefs have a rich history, having transitioned to Sandy Park in 2006 and winning the Premiership title twice. Despite recent challenges, including a slump in performance, the club has invested in international talent like Len Ikitau and Henry Slade to bolster their roster.

Simon Massie-Taylor, Prem Rugby chief executive, praised Rowe's legacy and the significance of Black Knight's involvement, stating, "Their arrival is another powerful signal of where English rugby and Prem Rugby is heading." As Exeter Chiefs embark on this new chapter, fans and stakeholders look forward to a promising future.