AMERICAN businessman Bill Foley could complete a deal to buy Cherries in the next week, according to a report by the Daily Mail.

Foley looks set to seal a £150million takeover of the club, replacing Maxim Demin, who first purchased shares in the club more than a decade ago.

The Mail claim the paperwork is expected to be completed "within the next seven days". Once contracts are signed, the sale would then progress to the Premier League owners and directors test.

Should all the relevant checks be passed without hitch, it is claimed Foley could be in situ and running Cherries "inside five weeks".

The report goes on to state Foley is looking to keep current chief executive Neill Blake and technical director Richard Hughes in their positions at the club having "been impressed by the duo's track record of success at the Vitality Stadium".

Foley, 77, is the owner of the Las Vegas-based Golden Knights ice hockey team.