Exeter Chiefs' shareholders have given the green light for takeover talks with the American owners of Premier League soccer side Bournemouth, the Prem Rugby club said.
Members and shareholders met at a general meeting on Thursday and voted to permit the sale of the club to Cannae Holdings' Black Knight Sports and Entertainment, controlled by American businessman Bill Foley.
If completed, the deal would make Foley and Black Knight, who took over soccer club Bournemouth in 2022, the first American owners to invest in an English top-flight rugby team.
"This does not represent a firm offer," Exeter CEO Tony Rowe said in a statement.
"It is just a non-binding expression of interest at this stage but, hopefully, an offer will follow and we can begin negotiating the terms of the sale.”
Cornish Pirates, who play in the second-tier Champ, this week announced American firm Stonewood Capital Management as investors in the club.
The Prem, currently made up of 10 clubs, plans to expand to 12 teams from 2029 while also doing away with automatic promotion and relegation.
Exeter, who last won the Prem title in the 2019-20 season, are fourth in the standings and next face Bath on Sunday.