With AFC Bournemouth supporters and the media obviously excited by the takeover of the club by American businessman Bill Foley, it’s also important to remember the role Russian businessman Maxim Demin has played over the past decade, shaping the Cherries future into something that once could never have been thought to be conceivable.
Demin became then AFC Bournemouth chairman Eddie Mitchell’s 50-50 partner, back in November 2011 after he purchased Jeff Mostyn’s 44% and Steve Sly’s 6% share of the football club
At that stage, he had been a regular visitor during the Cherries promotion season from the fourth tier of English football, a single season after AFC Bournemouth faced the abyss of relegation to non-league football following a 17-point deduction due to the Football League’s rules following the exit from administration.
Having been co-owner during the Cherries promotion from the third-tier of English football, in September 2013 he bought out Mitchell and became the sole owner of AFC Bournemouth.
In November 2015, shortly after winning promotion from the second tier of English football and earning a place in the Premier League, Demin sold 25% of the football club to Chicago-based company Peak 6, however that relationship didn’t last long with Demin repurchasing the shares in January 2019.
Demin has remained in sole control of AFC Bournemouth, having successfully steered the club through two seasons that were heavily hit by the Covid-19 pandemic, which saw crowds banned from stadiums, compounded by relegation from the Premier League.
The 2021/22 season saw crowds return and with it, AFC Bournemouth’s status as a side in the top flight of English football, winning promotion back to the Premier League in May 2022.
As shown by the previous deal with Peak 6, Demin has been looking for additional investment into AFC Bournemouth for many years. This time, he has sold 100% of the shares to a consortium, led by Bill Foley and also involves Hollywood star Michael B. Jordan.
According to Las Vegas based sports journalist Mick Akers the deal is worth $ 123.7 million, with an additional payment of $ 24.7 million if the Cherries avoid relegation at the end of the 2022/23 Premier League season.
BREAKING: Black Knight Football Club, owned by Bill Foley has completed the takeover of Bournemouth. pic.twitter.com/lrTZXbjWdz
— Sky Sports News (@SkySportsNews) December 13, 2022
Bill Foley tells me the deal is worth $123.7M, with an additional payment of $24.7M possible at the end of the season, contingent on Bournemouth staying in the Premier League. #vegas #bournemouth #PremierLeague https://t.co/SAYUwrmuot
— Mick Akers (@mickakers) December 13, 2022
Foley has previously stated his desire to spend money on the infrastructure around AFC Bournemouth, including the training ground facility and either the redevelopment of Dean Court or a new stadium altogether.
That would appear to be the final wish of Demin, who had taken the club as far as he could. But seriously, whoever imagined the club was able to have gone that far in the first place?
In a letter to supporters, published on afcb.co.uk, Demin said…
When I first visited a Bournemouth home game in League 2, I never dreamt that I would end up owning the football club. What started as a passion turned into a bit of an obsession, as football has a tendency to do. I quickly realised that, with a bit of commitment, we could achieve something special with this club. And we did.
My thanks go to the club’s senior management who have advised me and the hundreds of staff – many of whom have been with the club prior to my tenure – who continue to work so hard behind the scenes. I would also like to thank the players and managers who have helped make my time with the club so special.
I have so many fantastic memories of my time with AFC Bournemouth that I will cherish forever, and it goes without saying our first promotion to the Premier League under Eddie Howe will always stand out.
In the summer of 2020, following our relegation from the Premier League, I pledged my commitment to taking AFC Bournemouth back to the highest level. I am delighted that we managed to do that just two years later.
Now, with the right foundations in place for the club to re-establish itself in the place where it belongs, the time is right for me to step away and allow new owners to lead the club into an exciting new era.
I was fully aware of Bill Foley’s intentions for the club from the outset and I am very confident that its future is in safe hands. Though this has been a very difficult decision for me to sell, Bill’s expertise, commitment and vision gives me great peace of mind.
No organisation is bigger than the sum of its parts, and so much of this club’s success has been driven by collaboration both on and off the pitch – something I’m sure will continue as its ownership changes hands.
Togetherness, inclusivity, and its power to unite the local community make this a truly unique football club, and one which I am extremely proud to have owned for nearly eleven years.
Though I am moving on, I will always be a passionate AFC Bournemouth supporter and am excited to continue watching the club in the Premier League this season and hopefully for many years to come.
I would like to wish Bill, the management, the players, staff and supporters all the very best for the rest of this season and beyond.
Have fun and Up the Cherries! Always!
Your say…
thegazzyb wrote…
what an absolute legend he has been for our little club. My Dad always said Bournemouth is not a football town, the club don’t want to be in the Premier League/First Division, the FA wouldn’t allow it to happen anyway etc. etc.
Well, thanks to Max it DID happen and my Dad was around for a good few years to see it.
The guy probably has no idea just how many lives he has changed immeasurably during his tenure at the club. Unimaginable dreams came true for so many people and now he leaves us in a much better position, where hopefully, even more, AFCB-related dreams can be made reality!
Cheers Max !
Sorry Roger added…
What a lovely message. Max has been a better owner than we could ever have wished for. So the millionaire Sandbanks owner who took us to the Premier League not once but twice turned out to be a quiet and unassuming family man. Who would have predicted that?
Thank you Max.
Kudos said…
What a message, he just gets it.
Thanks Max, you were a quiet guy who preferred to stay out of the limelight but you certainly won’t be forgotten.
punkrockcherry said…
Max, you delivered something we all dreamed of, even though we never thought we would see it.
Hope you will be at Dean Court at least one more time, so the fans can thank you properly – even though our thanks will never be enough.
billythekid wrote…
As has been said by others, be good for him to make one more appearance in front of our fans at half-time, maybe when Eddie Howe comes down here with Newcastle United in February.
Max and Eddie were the main reason our club have achieved getting into the top league and gave us a thrilling ride all the way up there, they were
the ‘Dream Team’.
Best of luck for the future Max and thanks again. – To join the conversation, click here.
