Bill Foley has sold his 25 per cent stake in Hibs back to the Gordon family after both parties agreed that the arrangement wasn’t working.
The American businessman, who owns Bournemouth through his Black Knight Group, paid £6million for his shareholding in the Leith club nearly two years ago.
Despite hopes that Foley’s interest would be mutually beneficial to both the Premier League club and Hibs, differences of opinion on key matters soon became public knowledge.
After weeks of talks to find a resolution, it’s now been confirmed that the 80-year-old has sold his shares back to the Gordons for an undisclosed sum, taking their shareholding up to 85 per cent.