Bournemouth owner Bill Foley is set to sell his 25% stake in Hibernian after both parties agreed the partnership was not working. The club’s majority shareholders, the Gordon family, are expected to purchase the shareholding following talks held in recent months.
Foley, who bought the stake for £6m in February 2024 through his Black Knight Group, is set to recoup that fee plus further investments should a deal be finalised. At the time of the investment, then-Hibs CEO Ben Kensell described the arrangement as “game-changing,” saying he had spent months ensuring Black Knight were the right partners for the club.
Foley said the investment would help Hibs “reach new levels of success and help Scottish football continue to grow.” However, tensions emerged months into the partnership: Foley publicly criticised the appointments of head coach David Gray and sporting director Malky Mackay, and questioned Hibs’ ownership for not taking more advice from his group.
On the field, Hibernian’s form has been mixed since Foley’s involvement. The club finished eighth shortly after his arrival; in Foley’s first full season at the club they endured a run of one win in 13 under Gray yet still finished third behind Celtic and Rangers.
Foley, based in Las Vegas, made his fortune in the insurance industry 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 also holds stakes in other clubs. Their time at Lorient began with relegation from Ligue 1 but the French side bounced back by winning the Ligue 2 title. The group were awarded an A-League expansion franchise 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 acquired a majority ownership of Portugal’s Moreirense FC in June.
Across Edinburgh, Hibs’ city rivals Hearts have seen a different trajectory after incoming investment. Brighton owner Tony Bloom acquired a 29% stake in Hearts for £9.86m in June and the club has since used his Jamestown Analytics for recruitment. Hearts are now top of the Scottish Premiership, leading Celtic by six points and sitting five points clear of Hibs and Rangers.
Foley’s original deal at Hibs was not backed by 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 Foley-Hibs partnership apparently coming to an end just 21 months after the investment, some fans and shareholders will be left wondering what might have been as rivals continue to flourish.