Ever wonder how the biggest names in sports are building their empires? Bill Foley’s Black Knight Football Club, already owning Bournemouth, is now eyeing a significant stake in Croatian side HNK Rijeka. This strategic move deepens their global multi-club ownership, focusing on talent and financial prowess. What does this mean for the future of European football?

Bill Foley’s Black Knight Football Club is poised to further expand its burgeoning global football network with a strategic investment in Croatian side HNK Rijeka, marking a significant move into Eastern European football and solidifying its multi-club ownership model.

Founded by American insurance billionaire Bill Foley, Black Knight acquired Premier League side Bournemouth in 2022. This initial foray into English football was quickly followed by investments in French club Lorient, New Zealand’s Auckland FC, and Scotland’s Hibs, demonstrating a clear and ambitious strategy for rapid expansion across diverse football leagues.

Black Knight is now in advanced discussions to purchase a 25 percent stake in HNK Rijeka, which last year achieved a domestic double. This investment would make Rijeka the sixth club to join Foley’s extensive sports portfolio, providing Black Knight a crucial foothold in Eastern Europe and a valuable relationship with a club that has consistently demonstrated considerable success.

Historically recognized as Croatian football’s third most successful team, behind Dinamo Zagreb and Hadjuk Split, HNK Rijeka has notably outperformed the latter in recent decades, securing two league titles and seven domestic cups. This impressive track record highlights Rijeka’s ability to compete at a high level and their strong local presence.

Black Knight’s interest in Rijeka stems from their keen ability to identify and nurture local talent. Evidence of this symbiotic relationship is already visible, with Bournemouth academy product Daniel Adu-Adjei moving to Rijeka this summer. This transfer offers the 20-year-old English forward a prime opportunity to prove his capabilities within a competitive European league environment, aligning with Black Knight’s player development philosophy.

In return for the investment, HNK Rijeka stands to gain invaluable access to Black Knight’s sophisticated global network of data analysts and scouts. Furthermore, the club will benefit directly from Foley’s significant financial firepower, which has already led to substantial infrastructure improvements being initiated across all clubs within his ownership group.

By limiting their stake to less than 30 percent of the club, Black Knight strategically avoids the recent difficulties other multi-club ownership groups have encountered with UEFA regulations, particularly when multiple affiliated teams qualify for the same European competitions. This approach also ensures that current owner Damir Miskovic, who rescued the club from financial collapse in 2012, retains overall control.

Foley, now 80, built his immense fortune in insurance and financial services before diversifying into various sectors including golf courses, restaurants, ski resorts, and wineries. His successful venture into sports team ownership began with the National Hockey League’s Vegas Golden Knights, who became instantly competitive upon joining the league in 2017 and famously won the Stanley Cup in 2023, showcasing his proven success in sports business.

While several American-backed multi-club groups have faced challenges in recent seasons, Black Knight has consistently gone from strength to strength. Last season, Bournemouth finished ninth in the Premier League, Auckland won the A-League’s regular-season crown, Hibs secured third place in Scotland, and Lorient returned to Ligue 1 as champions, underscoring the effectiveness of Foley’s investment strategy.