Bournemouth owner Bill Foley is preparing to sell his 25% stake in Hibernian after both sides agreed the partnership was not delivering as hoped. Talks in recent months have centred on the club’s majority shareholders, the Gordon family, buying Foley’s shareholding.
Foley acquired the 25% stake for £6m in February 2024 through his Black Knight Group. If a deal is finalised he is expected to recoup that sum plus additional investments made since his arrival. At the time of the purchase, then-Hibs CEO Ben Kensell described the move as “game-changing,” saying he had worked for months to ensure Black Knight were the right partners.
Foley said the investment aimed to help Hibs “reach new levels of success and help Scottish football continue to grow.” But tensions surfaced months into the partnership: Foley publicly criticised the appointments of head coach David Gray and sporting director Malky Mackay, and questioned why Hibernian’s ownership had not taken more advice from his group.
On the pitch, Hibs’ results under the partnership were mixed. The club finished eighth soon after Foley’s arrival; in his first full season they endured a run of one win in 13 under Gray but still managed to finish third behind Celtic and Rangers.
Foley, based in Las Vegas, made his fortune in insurance and also owns the NHL’s Vegas Golden Knights. Forbes estimates his net worth at about £2bn. His Black Knight Group completed a takeover of Bournemouth during the 2022/23 season; the Cherries finished 15th that year and have since improved to 12th and ninth-place finishes in subsequent Premier League campaigns.
Black Knight holds stakes in other clubs too. Their time at Lorient began with relegation from Ligue 1 but the club returned to form by winning the Ligue 2 title. The group won an A-League expansion licence in November 2023; Auckland FC played their first match in October 2024 and went on to win the Premiership in their debut season. More recently Black Knight took majority ownership of Portugal’s Moreirense in June.
In contrast, Edinburgh rivals Hearts have moved in a different direction since new investment. Brighton owner Tony Bloom bought a 29% stake in Hearts for £9.86m in June and the club have used Bloom’s Jamestown Analytics for recruitment. Hearts now sit top of the Scottish Premiership, six points clear of Celtic and five points ahead of Hibs and Rangers.
Foley’s original Hibs investment did not have the backing of the club’s second-largest shareholders, Hibernian Supporters Limited, but it was approved by the required 75% of attending shareholders at the AGM. With the partnership likely to end just 21 months after the initial investment, some Hibs fans and shareholders will be left wondering what might have been as local rivals continue to flourish.