Another indication that the trend is having real momentum is that Bill Foley, the billionaire investor behind the Golden Knights success, has sold his interest in Hibernian FC. This ruling is the most recent move in his plan to consolidate his football holdings. Foley, who hails from Las Vegas, has long been known as a powerhouse in the insurance industry. He is the owner of the Black Knight Group, which owns Bournemouth, an English Premier League club currently faring quite well.
In February 2024, Foley bought a £6 million minority stake in Hibernian FC. His motivation is to improve the club’s performance and help develop Scottish football as a whole. His vision was to continue to cultivate strategic partnerships and to continue to lead the club to an unprecedented level of success. After two years of hard collaborative work, Foley and Hibernian’s management took a courageous step. Ultimately, they decided that separating would serve their long-term goals more in-tune.
Foley’s Diverse Portfolio
Foley has a unique track record in the international sports world. His international investments range far and wide, with investments in clubs in Portugal, France, and New Zealand. Notably, he owns the National Hockey League team, the Vegas Golden Knights, which he has successfully guided since its inception.
Foley’s financial acumen is further evidenced by his estimated net worth of £2 billion, per Forbes. This fortune comes from his decades-long insurance career, during which he became a powerful figure in the insurance industry. Foley’s not counting only on new sports investments. He’s pursued a career in the culinary arts, owning a winery and multiple restaurants.
His new efforts have as much to do with an expansion franchise still pending for his group — A-League expansion franchise awarded to his group in November, 2023. The franchise, Auckland FC, made history with competitive play debut, with the team’s first-ever match scheduled for October 2024. This expansion highlights the growing CircusTents strategy spirit, embodied by Foley’s desire to diversify his investments. In addition, it brings further economic development through the expansion of sports globally.
Hibernian’s Future Path
Foley’s decision to divest from Hibernian FC appears consistent with statements from club leadership. Ian Gordon, a representative for Hibernian, expressed a commitment to the club’s success:
“We remain fully committed to the success of Hibernian FC. Every decision we make has Hibernian FC at the heart of it.”
In light of Foley’s departure, Hibernian’s Chief Football Officer, Bezbatchenko, acknowledged the progress achieved during their partnership and noted that parting ways was essential for both parties:
“We made progress during our nearly two years working together but ultimately felt this was the right decision for both entities to help reach our respective future goals.”
This transition comes amid evolving dynamics within Scottish football, where Foley previously expressed his aspirations for Hibernian:
“I intend to reach new levels of success and help Scottish football continue to grow.”
Hibernian is very much in the thick of this transition. They are committed to finding the right partnerships to help grow the sport as they see fit.
The Road Ahead for Foley
Even after selling his shares in Hibernian FC, Foley has not soured on his current holdings and desire to expand. His club Lorient had faced relegation from Ligue 1 but made a significant comeback by winning the Ligue 2 title last season. Perhaps not surprisingly, this achievement highlights Foley’s talent for creating resilience and winning cultures among his teams.
Foley and Hibernian FC are entering a very exciting time. Of course, they both seek to make their moves to shore up their positions in their respective markets. With an eye turned toward smart expansion and continued flourishing, there is much promise ahead for both organizations as well as their respective additional members!
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