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.
