Foley sells Hibs stake back to Gordon family

Foley's group completed their takeover at Bournemouth in December 2022

American businessman Bill Foley has sold his 25% stake in Hibernian back to the club's majority shareholder, the Gordon family, after the pair agreed the partnership was not working.

Foley, who owns Bournemouth through his Black Knight Group, paid £6m for his shareholding in the Edinburgh club in February 2024.

Hibs have not confirmed the price of the deal, but the 80-year-old is likely to recoup his money, along with further investments made.

Talks have been ongoing for the past few months, with neither party satisfied with the partnership.

Chairman Ian Gordon said there were "philosophical differences" between them on the vision for the club's future.

"We would personally like to thank everyone at Black Knight Football Club for amicably agreeing to the share acquisition," Gordon added.

"We wish Black Knight nothing but the best moving forward.

"The future continues to look bright for Hibernian FC. We are confident in our football, strategic, commercial, and operational teams, and the success they will deliver for years to come."

The arrangement, announced as "game-changing" by former Hibs chief executive Ben Kensell, got off to a rocky start, with Foley critical of the appointments of head coach David Gray and sporting director Malky Mackay.

In July last year, Foley told BBC Sport: "If the other ownership group at Hibernian listen to us they will do better."

Black Knight president Tim Bezbatchenko and fellow representative Ryan Caswell have stepped down from their roles on the club's board as a result of the deal and new chief executive Dan Barnett has joined instead.

Bezbatchenko had been regular presence in Edinburgh, but Foley did not attend any matches in Scotland.

"We made progress during our nearly two years working together but ultimately felt this was the right decision for both entities to help reach our respective future goals," Bezbatchenko said.

"We wish the Gordon family, the club and Hibernian supporters all the best moving forward."

The Black Knight group are actively looking for other clubs to expand their portfolio which includes Lorient in France, Portuguese side Moreirense and Auckland in New Zealand.

The sale could open up the possibility of the Gordon family looking for another investor. However, BBC Scotland has learned no talks are currently taking place with any other party.

The Gordon family now own 85% of the shares in Hibernian.