Copyright scotsman
Bournemouth owner Bill Foley has cut ties with Hibs and sold his shares back to the Gordon family less than two years after acquiring a minority stake in the club. Foley, who heads up the Black Knights group, invested £6million into the Easter Road outfit in return for a 25 per cent shareholding in early 2024 in what was described as a "ground-breaking" deal for Scottish football by former Hibs chief executive Ben Kensell. However, the relationship between Foley and Hibs became strained when the 80-year-old spoke out against the appointments of head coach David Gray and sporting director Malky Mackay last summer. Hibs' reluctance to operate as a feeder club for Bournemouth under the Black Knights umbrella, which also also includes French side Lorient and New Zealand’s Auckland, is understood to have been a factor in the break-up. Foley, who has never attended a Hibs match, has now sold his stake to Bydand Sports, the company owned by majority shareholders the Gordon family, who now hold 85 per cent of the club shares. “We remain fully committed to the success of Hibernian. Every decision we make has Hibernian at the heart of it,” chairman Ian Gordon said in a statement. “Over the last few months, we have had detailed conversations with the Black Knight Football Club group regarding Hibernian. “During those discussions it became clear there are philosophical differences in our visions for the club. We mutually agreed this decision was best for both organisations. “We would personally like to thank everyone at Black Knight Football Club for amicably agreeing to the share acquisition. We wish Black Knight nothing but the best moving forward.” Gordon added: “The future continues to look bright for Hibernian. We are confident in our football, strategic, commercial, and operational teams, and the success they will deliver for years to come.” Following the completion of the share acquisition, Black Knight Football Club president Tim Bezbatchenko and Ryan Caswell have stepped down from Hibs board, with recently-appointed chief executive Dan Barnett joining the board. Bezbatchenko said: “Black Knight Football Club and Hibernian FC have amicably agreed to end the strategic partnership between the two organisations. “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.” Garvan Stewart left Bournemouth to join Hibs as their new head of recruitment in December last year but his position is not affected by Foley’s departure.
