AFC Bournemouth have confirmed that owner Maxim Demin has sold 25% of the shares in the Cherries to a US Investor.
In November 2011 Russian Businessman Maxim Demin purchased Jeff Mostyn’s 44% and Steve Sly’s 6% of the football club and became AFC Bournemouth chairman Eddie Mitchell’s 50-50 partner.
During his 22 months as co-owner, Demin never spoke to the media, but was often seen at Dean Court as the Cherries pushed for promotion to the Championship.
On 2nd September 2013 Demin purchased the remaining 50% shareholding of the club from the Mitchell family, with Eddie Mitchell stepping down as chairman and Jeff Mostyn being appointed the position.
After two seasons in the Championship, AFC Bournemouth won promotion to the top flight of English football for the first time in the clubs history, with Eddie Howe achieving three promotions in just five years, taking the club from League Two to the Premier League.
Over the weekend Sky News broke the story that Demin was set to sell a quarter of his shareholding to Chicago based Peak 6.
The report added that ‘It will see them take an influential role alongside current owner, Russian petrochemicals trader Maxim Demin’ with the deal expected to be announced on Monday.
The reported added: ‘Demin, who has shunned publicity since he bought into the club in 2011, is expected to remain involved.’
As predicted, AFC Bournemouth announced on Monday that a deal had indeed been concluded.
Over the past 15 months, Demin ‘established a relationship’ with Peak 6 co-founder and CEO Matt Hulsizer.
Hulsizer already has an interest in professional sport as he holds an ownership interest in the Minnesota Wild of the United States of America’s National Hockey League.
Following Hulsizer’s investment he will join AFC Bournemouth’s board of directors.
Hulsizer told afcb.co.uk…
“I am excited and honoured to partner with Maxim and AFC Bournemouth. I was introduced to the club over two seasons ago and since then I have followed the club`s progress and seen the tremendous accomplishments in that time. With Eddie Howe and Jason Tindall managing the team, I am confident that we can establish ourselves in the top flight.”
Joining Hulsizer on the board of directors is Peak 6 chief corporate development and legal officer Jay Coppoletta.
AFC Bournemouth chairman Jeff Mostyn added…
‘The club is confident this partnership will further strengthen its ability to compete with the very best, and provide a platform to establish itself as a long-term Premier League club.
Your Say…
joefraser wrote…
It gives Max a return on his investment, probably getting more than the value of 25% of what he put in, so he is happy, whilst he still keeps control of the club (so Eddie Howe’s job should be safe if future results are bad).
Sounds like a win/win situation if we do get more cash to spend. – To join the conversation – click here
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