Bournemouth owner Bill Foley has proclaimed that he expects his club to be in European qualification within five years. The Cherries have never featured in a competition such as the Champions League or Europa League in their history. They only just played their first-ever Premier League campaign eight years ago.

The American businessman previously purchased Bournemouth in late 2022 for around $126 million. Star Hollywood actor Michael B. Jordan also joined on as a minority investor as well. Foley has since shown that he is not afraid to invest in his new team.

With Foley officially at the helm, the Cherries have spent nearly $200 million on a plethora of new players. This includes five of the club’s seven most expensive arrivals in their history. USMNT midfielder Tyler Adams led the list when he was brought in from Leeds for around $29 million earlier this summer.

Bournemouth seeks European qualification

Foley recently told The Guardian that Bournemouth can take inspiration from Brighton’s surprising rise through the ranks. The Seagulls, much like Bournemouth, are a relatively small club from the English South Coast. Brighton stormed the Premier League since earning promotion in 2016 and has qualified for the Europa League.

“I want Bournemouth to play in Europe – that’s our goal,” stated Foley. “It’s not going to be easy but I’m confident we can get there. Brighton are a great inspiration, they do a terrific job. I certainly think we can be in Europe within five years.”

While the statement will be seen by many as extremely optimistic, Foley has a history of reaching his goals. The businessman was previously awarded with a National Hockey League expansion franchise in 2016. The Las Vegas Golden Knights then played their first season in 2017/18. Foley initially proclaimed that he hoped to bring a title to the city within six years. The team completed his feat this past summer.

Foley did not fret team’s slow start under Iraola

Bournemouth currently sits 14th in the Premier League table. The Cherries were, however, in the relegation zone for all of October. Nevertheless, head coach Andoni Iraola has since guided the club to four wins in their last five top-flight fixtures. Despite the slow start to the season, Foley always backed Iraola to succeed.

“We were always sticking with the plan. I was sticking with Andoni … honestly, I didn’t care if we lost every game,” continued Foley. “I am convinced that his style of play is exactly what we need to be competitive, to be the small guy, and compete with the big guys.”

“We are not a sovereign wealth fund and we don’t have that kind of backing, so we have to do it differently. I was totally on board and convinced he was the bright solution for us and he has proven me correct. I was patient and I knew we made the right decision.”

The Bournemouth owner also declared that he wants to help build a new stadium for the club. The Cherries currently have the second-smallest arena in the Premier League. They previously had the fewest seats of any top-flight club until Luton Town earned promotion back in May. This new arena, however, will likely not be ready until 2027. Foley plans to increase the team’s stadium capacity from just over 11,000 to 18,500.