American Billionaire in talks to buy AFC Bournemouth for £150m

American Billionaire Bill Foley is in talks to buy Premier League club AFC Bournemouth from its Russian ownership.

A group led by Foley has indicated an interest in taking over the Cherries who are being marketed by Montminy & Co, per The Sun via The Athletic.

Bournemouth's owner, Maxim Demin is said to have listed the club for sale for four years with several investment groups have expressed interest in buying the club.

However, with Demin demanding £150 million to sell a 100% stake, only the group led by Foley has progressed through talks with Demin.

The American Billionaire, Foley, is the Chairman of Fidelity National Financial, regarded as one of the biggest insurance coys in the US.

Bournemouth won't be Foley's first sports team as he is already involved in the National Hockey League, NHL, with Vegas Knights.

With the plan to sell the club, for four years now, the Cherries could become the latest club in the PL with bags of money to spend.

The Cherries returned to the Premier League this season after a short stint in the Championship. 

However, their return to the first division hasn't gone to plan following a poor start to the new season which has already cost manager, Scott Parker his job.

This weekend, the Cherries are visitors at St James's Park, where they take on the richest club in the World, Newcastle United, which is managed by former Cherries boss, Eddie Howe.

Both teams need the points, separated by zero points, the two teams are tied on seven points going into this weekend's round of matches.