Bournemouth Owner Bill Foley in Advanced Talks to Buy Minority Stake in Hibernian
Bournemouth owner Bill Foley is reportedly in advanced talks 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, has been actively expanding his portfolio in the football industry. This potential investment in Hibernian comes after his recent acquisitions of Bournemouth and a 30% stake in French side Lorient.
Foley’s interest in Hibernian is not surprising, as he has expressed his desire to add more clubs to his group. However, this move could mark a significant moment for Scottish football, as the country has traditionally resisted multi-club ownership. The Scottish Football Association has previously blocked individuals who own at least 25% of another professional club in Europe from buying shares in Scottish clubs. However, the association has now adopted a more case-by-case approval process, opening the door for potential investments.
Hibernian is not the only Scottish club in talks with multi-club investors. Dundee, Dundee United, and Livingston are among the other clubs currently on the market. Hibernian has been open to new investment since the passing of former owner Ron Gordon in February. The club is currently run by Gordon’s son, Ian, and wife, Kit. The Gordons own 67% of the shares and are looking to maintain control of the club. If the deal with Black Knight Football Club goes through, their stake is expected to be around 15%, with the possibility of a larger investment in the future.
Hibernian’s recent form has shown signs of improvement under new manager Nick Montgomery. After a disappointing start to the season, 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 also won four top-flight titles, the last of which was in 1952.
Bill Foley’s sports empire extends beyond football. He 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, Bournemouth, 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, Bill Foley’s potential investment in Hibernian represents a significant development in Scottish football. With multi-club ownership becoming more common across Europe, the Scottish Football Association has adopted a more flexible approach to approving investments. Hibernian’s openness to new investment following the passing of former owner Ron Gordon has created an opportunity for Foley’s Black Knight Football Club. If the deal goes through, it could pave the way for further investments in Scottish football.