A new era could soon begin for Exeter Chiefs after the Premiership rugby club officially approved a takeover bid from the owners of Premier League side AFC Bournemouth.
At a special general meeting on Thursday night, members and shareholders voted in favor of a proposed deal involving Cannae Holdings’ Black Knight Sports and Entertainment — a powerful American investment group already expanding its influence across global sports.
If the takeover is finalized, Black Knight would purchase all shares in the Devon-based rugby club, marking what could become a historic moment for English rugby. The group already owns stakes in French football side FC Lorient and New Zealand outfit Auckland FC, and now Exeter Chiefs could become their latest major sporting project.
However, the deal is not fully complete just yet. Black Knight is currently carrying out a detailed due diligence process, with a final decision not expected before the end of May. Exeter chairman and chief executive Tony Rowe stressed that discussions are still in the early stages.
“This is not yet a firm offer,” Rowe explained. “At this stage it remains a non-binding expression of interest, but hopefully it leads to formal negotiations and eventually an agreement.”
Should the takeover go through, it would represent a groundbreaking moment for Premiership Rugby, making Exeter the first English top-flight rugby club to receive investment from foreign football owners. It also highlights the growing wave of outside investment flooding into English rugby as clubs search for financial stability and long-term growth.
The sport has already witnessed major financial moves recently. Newcastle Falcons were acquired by energy drink giant Red Bull last year, while billionaire inventor Sir James Dyson became co-owner of Bath after injecting significant new funding into the reigning champions. Exeter’s potential takeover is another sign that rugby’s financial landscape is rapidly changing.
American interest in the game is also growing fast. Just days before Exeter’s announcement, Championship side Cornish Pirates revealed fresh investment from the United States, further underlining rugby’s increasing appeal to overseas investors.
The timing is especially significant as Premiership Rugby continues reshaping its future structure. With promotion and relegation being phased out in favor of a franchise-style system, the league hopes to stabilize financially and eventually expand back to 12 teams. Exeter’s possible new ownership could place the Chiefs in a strong position during this transition period.
For many supporters, though, the biggest emotional element of the deal is what it could mean for Tony Rowe. A completed takeover would likely end his decades-long leadership of the club — a remarkable journey that transformed Exeter from a lower-division side into one of English rugby’s greatest success stories.
Under Rowe’s guidance, Exeter climbed from the fourth tier of English rugby all the way to Premiership champions and European Cup winners. The club moved into Sandy Park in 2006, and the stadium has since evolved into one of rugby’s standout venues, with future expansion plans targeting a capacity beyond 20,000 seats.
Rowe, who built his fortune in telecommunications, personally backed much of Exeter’s rise. His vision extended beyond rugby, turning Sandy Park into a successful conference, hospitality, and events destination that helped fuel the club’s growth both on and off the field.
The Chiefs became one of England’s dominant rugby forces during the late 2010s, reaching six consecutive Premiership finals from 2016 onwards. Their golden era included a historic European Champions Cup triumph in 2020 and the arrival of major international stars such as Geoff Parling and Nic White, alongside homegrown heroes including Jack Nowell, Luke Cowan-Dickie, and Henry Slade.
But like many rugby clubs, Exeter faced severe financial pressure following the COVID-19 pandemic. Rising costs and reduced revenue forced difficult decisions, including reducing the wage bill and watching several international stars leave between 2022 and 2024. Rowe even purchased a hotel located at Sandy Park to help manage pandemic-related debts and support the club financially.
Last season proved especially difficult as Exeter finished ninth in the 10-team Premiership. However, recent coaching changes and new signings like Len Ikitau, Tom Hooper, Andrea Zambonin, and Stephen Varney have sparked renewed optimism, with the club now pushing for a playoff place once again.
Supporters will now hope that fresh investment from Black Knight can restore Exeter to the top of English rugby and help the Chiefs compete consistently with the sport’s elite once more.
If completed, the takeover could mark not just the end of one legendary era at Sandy Park — but the beginning of an ambitious new chapter for Exeter Chiefs.
