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Bill Foley (businessman)

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Bill Foley
Foley at the United States Military Academy in 2024
Born (1944-12-29) December 29, 1944 (age 79)
Austin, Texas, U.S.
EducationUnited States Military Academy (B.S.)
University of Washington School of Law (J.D.)
Occupation(s)Financial services
Professional sports owner
Known forChairman of the Board of Fidelity National Financial
Owner of the Vegas Golden Knights
Owner of AFC Bournemouth
Owner of Auckland FC
Shareholder of Hibernian

William P. Foley II (born December 29, 1944) is an American businessman and former attorney, specializing in financial services. He is chairman of Fidelity National Financial, Cannae Holdings and Black Knight Financial Services, and vice chairman of Fidelity National Information Services Inc. (FIS).[1] Foley is the lead investor, chairman, and CEO of Black Knight Sports & Entertainment, a consortium that owns the Vegas Golden Knights. He is managing general partner of Black Knight Football and Entertainment, which owns Premier League club AFC Bournemouth, A-League club Auckland FC, and a stake in French Ligue 1 club Lorient, and Scottish Premiership club Hibernian. As of 2023, he had an estimated net worth of US$1.6 billion according to Forbes.

Growing up, Foley mostly lived in Texas with his family and extended family, who were ranchers. For a time, he lived in Ottawa, Ontario, when his father was posted in the United States Air Force there. Foley played shinny, an informal type of ice hockey, and started a lifelong appreciation for the sport.[2]

Foley attended the United States Military Academy. While a cadet, he made $40,000 on the stock market, which he invested in during his spare time. Upon graduating from West Point, Foley was commissioned as a Second Lieutenant in the US Air Force, where during his career he negotiated million-dollar defense contracts with Boeing. After leaving the Air Force, Foley moved into corporate law upon earning his J.D. from the University of Washington in 1974. Later he bought and revitalized the then struggling title insurance firm Fidelity National Financial. He later invested in wineries, golf courses, hotels, ski resorts, steak houses, fast-food restaurants and auto parts manufacturers.[3]

Foley is a financial supporter of the American politician Donald Trump.[4]

Sports ownership

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While Foley was living in Jacksonville, Florida, he explored buying the National Football League's Jacksonville Jaguars, before the team was acquired by Shahid Khan.[3]

In June 2016, Foley and Black Knight Sports & Entertainment was awarded a National Hockey League expansion franchise that became the Vegas Golden Knights.[5] The Golden Knights began play in the 2017–18 season at the new T-Mobile Arena, and also acquired a minority ownership of the facility.[6][7] Foley pledged to win a Stanley Cup in six seasons, and the Golden Knights made good on that promise in 2023. [8] In 2020, Black Knight Sports & Entertainment purchased an American Hockey League franchise to act as a development team for the Golden Knights, relocating the San Antonio Rampage to become the Henderson Silver Knights.[9] The Silver Knights played out of the Orleans Arena until the Dollar Loan Center, which is operated by Black Knight Sports & Entertainment, is complete in 2022.[10]

In 2021, Foley announced Black Knight Sports & Entertainment had purchased an expansion team in the Indoor Football League to begin play in 2022 at the Dollar Loan Center in Henderson, Nevada.[11] On August 23, 2021, the team unveiled their name and logo as the Vegas Knight Hawks.[12]

On December 13, 2022, a group of investors led by Foley completed a deal to purchase Premier League football club AFC Bournemouth, with Foley assuming the role of chairman. Ahead of the deal, he was present at one of Bournemouth's Premier League matches vs Leicester City, with the Cherries winning 2–1.[13][14][15]

On January 13, 2023, Foley acquired a significant minority stake in French Ligue 1 club Lorient, creating a partnership with Bournemouth.[16]

On October 11, 2023, the Australian Professional Leagues (APL) announced Foley as the preferred bidder to be the owner of a new A-Leagues expansion club, based in Auckland, New Zealand.[17] The APL officially confirmed the new team would be awarded a licence under Foley's ownership on 21 November, 2023 with the men's team being introduced for the 2024–25 A-League Men and the women's team competing from 2025–26 onwards.[18]

At an AGM held in February 2024, Black Knight ratified a deal to become a significant minority shareholder in Scottish football club Hibernian.[19] The result of this deal is that Black Knight will be acquiring 25% of Hibs for a £6 million investment, while the Gordon family will retain its majority control (60%) of the club.[19] Foley was appointed to the club's board of directors soon afterwards.[20]

References

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  1. ^ "Our Team". Vegas Golden Knights. Retrieved June 22, 2016.
  2. ^ "NHL - Potential Las Vegas expansion team owner a driven man". Espn.go.com. December 12, 2014. Retrieved June 23, 2016.
  3. ^ a b "Las Vegas Golden Knights behind the scenes". SI.com. January 23, 2017. Retrieved January 28, 2017.
  4. ^ McKay, Ben (October 16, 2024). "Bill Foley backs Donald Trump again while investing in Auckland FC's future". New Zealand Herald.
  5. ^ Ewing, Mark. "Bill Foley And The National Hockey League's Newest Franchise, The Vegas Golden Knights". Forbes. Retrieved April 23, 2020.
  6. ^ Kaplan, Daniel (October 3, 2016). "NHL's Vegas owner buys share of arena". Sports Business Journal. Retrieved June 5, 2018.
  7. ^ Form 10-K: Annual Report (Report). MGM Resorts International. March 1, 2018. p. 72 – via EDGAR.
  8. ^ "Vegas backs up owner's 'silly statement' by winning Cup within 6 seasons". NHL.com. Retrieved June 22, 2023.
  9. ^ "It's Henderson Silver Knights!". 8newsnow.com. May 28, 2020.
  10. ^ "Renderings released of Henderson Event Center, future home of Silver Knights". Retrieved June 10, 2020.
  11. ^ "Vegas Golden Knights buy Indoor Football League expansion franchise". KSNV. May 11, 2021.
  12. ^ "The Vegas Knight Hawks Are the Newest Franchise in the IFL". OurSports Central. August 24, 2021.
  13. ^ "Bill Foley completes Bournemouth takeover with actor Michael B. Jordan named a minority owner". The Athletic. December 13, 2022. Retrieved December 24, 2022.
  14. ^ "Always advance, never retreat': Bill Foley seals Bournemouth takeover". The Guardian. December 13, 2022. Retrieved December 25, 2022.
  15. ^ "Bournemouth takeover: American businessman Bill Foley's consortium completes purchase worth over £100m". sky sports. December 13, 2022. Retrieved December 25, 2022.
  16. ^ "Foley-led acquisition of 'significant minority share' in FC Lorient". Bournemouth Echo. Retrieved January 13, 2023.
  17. ^ "Premier League owner confirmed as preferred bidder for A-Leagues expansion licence in Auckland". A-Leagues. October 10, 2023. Retrieved October 10, 2023.
  18. ^ "Auckland expansion team awarded full A-Leagues license". A-Leagues. November 21, 2023. Retrieved November 21, 2023.
  19. ^ a b McLauchlin, Brian (February 27, 2024). "Bill Foley: Hibernian shareholders vote through American's £6m investment in club". BBC Sport. Retrieved February 27, 2024.
  20. ^ Greechan, John (March 8, 2024). "Billionaire Hibs investor in major boardroom move". Edinburgh Evening News. Retrieved March 8, 2024.
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