LORIENT, France (AP) — The French Ligue 1 club Lorient announced Wednesday that the Black Knight Football Club group had become its sole shareholder.

The Black Knight consortium fronted by American businessman Bill Foley, which owns the Vegas Golden Knights in the NHL, acquired a minority ownership interest in Lorient in January 2023 as part of its multi-club ownership strategy.

BKFC also owns Premier League side Bournemouth, Moreirense FC in Portugal and Auckland FC in New Zealand.

Lorient said in a statement that Wednesday’s move follows “a strategic agreement aimed at strengthening the long-term development of FC Lorient in an increasingly competitive football environment.”

BKFC is bringing more than $550 million in equity, Lorient said. It added that president Loïc Féry would retain his position and become a BKFC shareholder alongside Foley.

“We are delighted to take this next step with FC Lorient and to welcome Loïc to BKFC,” Foley said. “With Loïc, we will ensure FC Lorient continues to succeed and we will strive to maintain the enthusiasm of its supporters.”

Lorient is ninth in Ligue 1 after 19 matches.

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