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BREAKING NEWS: Bill Foley FINALISES £150m takeover of Bournemouth, with half of Premier League clubs now owned by Americans... and he is expected to name HIMSELF as Cherries chairman

Las Vegas businessman Bill Foley has completed his £150million takeover of Bournemouth, a deal that was exclusively revealed by MailOnline.

The buyout means half the Premier League clubs are owned by Americans.

Sportsmail were first to reveal the US-based group's bid to buy the club from Russian owner Maxim Demin on September 15 before disclosing on September 28 that the transaction would be completed by the end of this week.

Las Vegas businessman Bill Foley has completed his u00a3150million takeover of Bournemouth

And sources have now confirmed that all the necessary paperwork has been signed, effectively meaning Foley is in control at the Vitality Stadium, pending final approval from the Premier League.