Bill Foley makes next move after Hibs exit as Bournemouth chief eyes becoming sole owner at Ligue 1 club
The American businessman pulled out of involvement with Hibs last week and is already making moves elsewhere.
Bill Foley has made his next move after Hibs - sparking anger from sections of fans at a French club.
Bournemouth’s billionaire owner heads up a collection of clubs under his Black Knight Football Club umbrella, with the Premier League Cherries at its core. He had invested £6m into Hibs for a 25% stake in 2024, but has now pulled out of involvement at Easter Road, with his hopes to make the Premiership side more in feeder club form for Bournemouth facing opposition from the Gordon family.
The majority shareholders at Hibs have now bought Foley’s stake and he has moved on to projects elsewhere. Another club he is invested in are Lorient in Ligue 1, who currently sit 17th out of 20 in France’s top flight. In an update sent by the club, Foley is set to become their sole owner in a major structural shift.
Where has Bill Foley made moves after Hibs exit?
Plans would aim to give Lorient long-term financial security inside the BKFC group and it would also formally align them with other members like Bournemouth, Moreirense and Auckland FC. A statement reads from President Loic Fery: “Since late 2022, when I encouraged the BKFC (Black Knight Football Club) group to acquire a stake in FC Lorient under the leadership of its majority shareholder, Bill Foley, much has happened: FC Lorient secured a place in the top 10 of French football, then demonstrated its resilience by achieving immediate promotion back to Ligue 1 after the disappointment of relegation to Ligue 2.
“All of this occurred while Ligue 1 was reduced to 18 teams and many French clubs significantly strengthened their financial position. In this particularly competitive economic climate, exacerbated by the current decline in TV rights in France, our football industry continues to evolve towards ever-fiercer competition, requiring us to adapt our model to these new challenges. I want us to be equipped to face this hyper-competitive environment. I would therefore like to take our partnership with the BKFC group to the next level by becoming one of its main shareholders behind majority shareholder Bill Foley (and the various investment vehicles he controls) and by integrating my stake in FCL into the BKFC group, which would then become the sole shareholder of FCL.
“This development, which I am working on with Bill Foley and in close collaboration with the BKFC management, would allow FC Lorient to have a strong financial footing within a group with over $500 million in equity, and to join an international network of expertise comprised exclusively of clubs with strong identities: AFC Bournemouth, FC Lorient, and Moreirense FC. This development seems to me to guarantee the long-term viability of FC Lorient in a highly competitive environment, with a strategic alignment within BKFE's capital structure allowing me to continue what has driven me since 2009 as president of FC Lorient.
What do fans think of Bill Foley at Lorient?
“Note that FC Lorient is very fortunate to have a partner like BKFC, which has proven its ability to be competitive in the various leagues in which its clubs participate. Bill Foley has succeeded in everything he has undertaken in sports, and he knows how to surround himself with people who make a difference. The BKFC group has also demonstrated a rare understanding of local specificities, pooling expertise and establishing a lasting presence on a large scale. This is a real opportunity for FC Lorient, within a development strategy that aligns with its DNA and local roots, which I am committed to upholding. And this transition seems essential to me for the club's future.
“This development is in its final stages and is obviously still subject to a few steps. But given that the parties involved are aligned on the objective, that they have known each other well for several years (BKFC and Bill Foley have been partners of FC Lorient for almost three years), and that they all share the seriousness of the development project, I am confident that we will bring this development to fruition as soon as possible. And I wanted to share this conviction with those close to FC Lorient.”
It’s not had unanimous support from all fans though, as the news split opinion. One said ‘Lorient becomes the youth academy for Bournemouth, and they send us on loan all the trash from their place.’ Another said in sarcastic fashion ‘meanwhile, come Sunday we'll lose for the 20th year in a row at The Beaujoire’ in relation to an upcoming clash with Nantes. One pointed out ‘it is indeed the era of “Lorient will never be the branch of Bournemouth”…
A fan commented “It's good news that is not a surprise” and another said “ Finally, the end of Fery's wooden language, it's about time.” One simply said ‘Foley OUT’ and a dismayed punter admitted ‘all that's left now is to wait for the name change and the logo update.’