A partnership led by an American businessman has taken over Bournemouth.
The previous owner of the Cherries has sold his stake to a new owner.
The owner of the Vegas Golden Knights is the new chairman.
The club said that they were committed to providing the investment to sustain and build on Bournemouth's recent accomplishments.
"I have great respect for the passion and support the Bournemouth community shows for this club and believe that connection to the community is the foundation for success of any sports team," said the 77-year-old.
All of my efforts have been defined by an "always advance, never retreat" approach. I am committed to working with the best football and business minds to enhance player development, facilities, and the fan experience to put Bournemouth in the best possible position to succeed.
The next home match for Bournemouth will be against Crystal Palace on December 31st.
He bought a home in the Bournemouth area to affirm his commitment to the club.
A majority of the club is owned by the chairman of Cannae.
Michael B Jordan is the leader of the minority ownership group.
The group led by Todd Boehly took over the club in May.
Some of the UK's biggest companies have US investment.
Demin oversaw Bournemouth's rise from League One to the premier league in less than five years, after he left the club.
The Cherries are currently 14th in the English top flight and will play their first game after the World Cup on December 27th.
"If it weren't for the financial and belief support of the family of Maxim, the club might not have existed at all."
The club has been established as a top-flight team thanks toMaxim's support.
We would like to praise his hard work while owner of the club and thank him for his co-operation. As he concentrates on his other business, we wish him well.
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