Hibs owners buy out American billionaire Bill Foley's £6m stake in club

American billionaire Bill Foley has sold his 25% stake in Hibernian less than two years after investing in the Edinburgh club.

Hibernian FC’s majority shareholder Bydand Sports LLC, owned by the Gordon family, has completed the purchase of Black Knight Football Club’s shares in the Easter Road side, bringing an end to the club’s brief partnership with the American billionaire.

The deal, understood to be worth around £6m, sees Bydand Sports increase its stake in Hibs to 85% after acquiring Black Knight’s 25% holding.

The agreement ends a relationship that lasted less than two years and was marked by differing visions for the club’s future.

‘Philosophical differences’ led to split

Confirming the move, Hibs chairman Ian Gordon said the decision followed months of discussions between the two ownership groups.

“We remain fully committed to the success of Hibernian FC. Every decision we make has Hibernian FC at the heart of it,” he said.

“Over the last few months, we have had detailed conversations with the Black Knight Football Club group regarding Hibernian FC. 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 them nothing but the best moving forward.”

Following the deal, Tim Bezbatchenko and Ryan Caswell, who represented Foley’s interests on the Hibs board, have stepped down as directors. Chief executive Dan Barnett has now joined the club’s board.

Foley, who owns AFC Bournemouth and heads the Black Knight Football Club group, had hoped to make Hibs part of his growing global football network, which also includes Lorient in France, Moreirense in Portugal and Auckland FC in New Zealand.

However, the partnership struggled to find common ground. Foley’s vision focused on aligning his clubs under a shared playing philosophy, management structure, and recruitment model, a plan he outlined in an interview with The Observer earlier this month.

“We’ve chosen to find other clubs for a feeder system,” he said. “We want to hire the sporting director, the coach, the analysts, for the teams to play the way Bournemouth play, so that if we do have to pay a fee for a player, we are paying ourselves.”

That approach clashed with the Gordons’ desire for Hibs to maintain autonomy. By the summer of 2024, tensions had become public when Foley told BBC Sport that his input “wasn’t being listened to” by Hibs’ hierarchy.

Despite efforts to mend relations, including the appointment of Bezbatchenko to the Hibs board, both sides ultimately agreed to part ways.

“We made progress during our nearly two years working together but ultimately felt this was the right decision for both entities,” said Bezbatchenko. “We wish the Gordon family, the club and Hibernian supporters all the best moving forward.”

The Gordon family first became involved with Hibernian in 2019 when the late Ron Gordon purchased the club. His son Ian now leads the organisation and says the family’s increased stake reaffirms their long-term commitment.

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

The acquisition gives the Gordons an 85% controlling share in Hibernian, ending a period of uncertainty over ownership and setting the stage for what the family describes as a “unified and focused” next chapter for the club.