Under Rowe’s leadership Exeter moved from their old home at the County Ground to Sandy Park on the outskirts of the city for the start of the 2006-07 season.

The club eventually won promotion to the Premiership in 2010 in current director of rugby Rob Baxter’s first season in charge.

They have remained in the top flight ever since – becoming the last non-Premiership shareholding team to establish themselves in the league after promotion from the second tier.

Exeter have gone on to win the title twice, having reached their seventh final earlier this month when they were beaten by Northampton Saints at Twickenham.

The club also won the European Champions Cup in 2020, but Covid-19 debts led to the break up of that squad and a slump in performance as three seventh-placed finishes were followed by a club-worst ninth-placed finish in the 10-team Prem last season.

But they have bounced back this season having recruited international stars such as Len Ikitau, Tom Hooper and Andrea Zambonin, as well as keeping England players Henry Slade and Immanuel Feyi-Waboso.

“As proven owners in Premier League football with Bournemouth and in the NHL with the Vegas Golden Knights, Black Knight understands elite sport and what it takes to build a high-performance environment on and off the pitch,” said Prem Rugby chief executive Simon Massie-Taylor.

“Their arrival is another powerful signal of where English rugby and Prem Rugby is heading.

“Exeter Chiefs are one of the great success stories of our game and Tony Rowe deserves enormous credit for everything he has built at Sandy Park and the legacy that he has created.

“To win two Prem titles and a European Cup is an extraordinary achievement.

“Tony’s vision, commitment and passion for the club and the wider game have been central to everything Exeter have achieved and we are pleased to see that he will continue to play an important role at the club.”