Bournemouth Owner Bill Foley in Talks to Buy Stake in Hibernian
Bournemouth owner Bill Foley is currently in advanced discussions to acquire a minority stake in Scottish Premiership club Hibernian. Foley, who is the managing partner of Black Knight Football Club, a group of American investors, purchased Premier League side Bournemouth in December last year. They later acquired a 30% stake in French club Lorient. Foley’s group, which includes the Ryan Family (minority owners of the Chicago Bears) and Hollywood actor Michael B. Jordan, was recently named as the preferred bidder for a new A-League franchise in Auckland, New Zealand.
Foley’s interest in Hibernian aligns with his plans to expand his portfolio of clubs. However, this move represents a significant moment for Scottish football, as it has traditionally resisted the influence of multi-club ownership. The Scottish Football Association previously prohibited individuals who owned at least 25% of another professional club in Europe from buying shares in Scottish clubs. While the ban has been replaced with a more case-by-case approval process, no one has tested it yet. Hibernian is one of several Scottish clubs currently engaged in talks with multi-club investors, including Dundee, Dundee United, and Livingston.
Hibernian has been open to new investment since former owner Ron Gordon passed away in February. Gordon’s son, Ian, and wife, Kit, have been running the club since then. The Gordons currently own 67% of the shares and intend to maintain control of the club. If the deal with Black Knight goes through, their stake is expected to be around 15%, serving as a preliminary step towards a larger investment in the future.
Hibernian’s recent form has shown improvement after a slow start to the season. Under new manager Nick Montgomery, the team went on a six-game unbeaten run in September. Although they suffered a 4-0 defeat against Rangers, they managed to secure a goalless draw against Celtic. The club’s last major trophy was the Scottish Cup in 2016, and they have won four top-flight titles, with the most recent one dating back to 1952.
Apart from his football clubs, Foley also owns the National Hockey League’s Vegas Golden Knights, the reigning Stanley Cup champions, and their farm team, the Henderson Silver Knights. Unlike many investors in multi-club football groups, Foley openly acknowledges a pecking order within his empire, with his Premier League side at the top. In an interview with The Athletic earlier this year, Foley stated, “I’m just being honest – players want to move to the Premier League, and we want to give them that opportunity.” It is likely that Foley sees Hibernian as a potential stepping stone for players from the A-Leagues in Australia and New Zealand, providing them with a pathway to the Premier League.
In conclusion, Bournemouth owner Bill Foley is in advanced talks to acquire a minority stake in Hibernian. This move represents a significant moment for Scottish football, as it signals a shift towards multi-club ownership. Hibernian has been open to new investment since the passing of former owner Ron Gordon, and if the deal goes through, Black Knight’s stake is expected to be around 15%. Foley’s interest in Hibernian aligns with his goal of providing players with opportunities to move to the Premier League. With Hibernian’s recent improvement in form and Foley’s track record of success in sports ownership, this partnership could potentially benefit both parties involved.