Exeter takeover approved

THE takeover of Exeter Chiefs by the owners of Premier League side AFC Bournemouth has been approved by the Prem rugby club. Members and shareholders voted in favour of a bid by Cannae Holdings’ Black Knight Sports and Entertainment at a special general meeting on Thursday. If the takeover goes through, they will purchase all shares in the Devon club.

The group, who also have stakes in French club FC Lorient as well as owning Auckland FC, are currently carrying out a due diligence process which will not be completed before the end of May. “This does not represent a firm offer,” Exeter chairman and chief executive Tony Rowe said. “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.”