Bill Foley ‘signs final paperwork’ to complete £120m Bournemouth takeover and takes part in clash with Leicester

BILL FOLEY has reportedly signed the “final paperwork” to complete his £120million takeover of Premier League side Bournemouth.

The American billionaire, 77, has a reported net worth of £1.2 billion.

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And according to talkSPORT, he will spend £120million to buy Bournemouth after months of negotiations with longtime owner Maxim Demin.

Foley himself is at Vitality Stadium for the Cherries’ Prem clash against Leicester City on Saturday and was beaming before kick-off.

Bournemouth are currently in mid-table, having picked up nine points in eight games played.

The Vegas Golden Knights owner will appoint himself as chairman once the acquisition is approved, and he plans to inject the money into a new state-of-the-art training facility.

Funds will also be made available in the January transfer window to try and help the Cherries avoid relegation.

There are long-term plans to either refurbish Bournemouth’s 11,364-seater Vitality Stadium or build a brand new stadium.

Foley also has ambitions to build a multi-club dynasty by buying clubs in Belgium and France.

Interim manager Gary O’Neil is expected to remain in office at least until the purchase is fully completed.

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Chief Executive Neill Blake and Technical Director Richard Hughes will retain their jobs under Foley

The couple are looking for executives to take on the post long-term.