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The owners of Premier League side AFC Bournemouth have completed their takeover of Exeter Chiefs.
Canai Holdings’ Black Knight Rugby is the first US-based team to take control of a top-flight side in English rugby.
BBC Sport understands the deal This month’s Lost Love finalists Value in the region of £25m.
Members of the club, which owns the two-time reigning champions and 2020 European Champions Cup winners, voted to approve the plans last month.
It is the first rugby investment for the Black Knights, who share ownership of French football club FC Lorient as well as Auckland FC.
Exeter is the latest love club to secure major new investment.
Energy drinks giant Red Bull bought Newcastle last August, while a 50% stake in the Bath Premier champions was increased by businessman James Dyson.
