Hibernian FC's majority shareholder, the Gordon family, has reclaimed 85% stake in the club after American businessman Bill Foley sold his 25% shareholding back to the club. The deal was agreed after the pair felt the partnership was not working. The Gordon family now own 85% of the shares in Hibernian, with the remaining 15% still owned by Foley's Black Knight Group. The sale could open up the possibility of the Gordon family looking for another investor. However, BBC Scotland has learned no talks are currently taking place with any other party. The Gordon family now own 85% of the shares in Hibernian. Chairman Ian Gordon said there were 'philosophical differences' between them on the vision for the club's future. 'We would personally like to thank everyone at Black Knight Football Club for amicably agreeing to the share acquisition,' Gordon added. 'We wish Black Knight nothing but the best moving forward. 'The future continues to look bright for Hibernian FC. We are confident in our football, strategic, commercial, and operational teams, and the success they will deliver for years to come.' The arrangement, announced as 'game-changing' by former Hibs chief executive Ben Kensell, got off to a rocky start, with Foley critical of the appointments of head coach David Gray and sporting director Malky Mackay. In July last year, Foley told BBC Sport: 'If the other ownership group at Hibernian listen to us they will do better.' Black Knight president Tim Bezbatchenko and fellow representative Ryan Caswell have stepped down from their roles on the club's board as a result of the deal and new chief executive Dan Barnett has joined instead. Bezbatchenko had been regular presence in Edinburgh, but Foley did not attend any matches in Scotland. '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,' Bezbatchenko said. 'We wish the Gordon family, the club and Hibernian supporters all the best moving forward.' The Black Knight group are actively looking for other clubs to expand their portfolio which includes Lorient in France, Portuguese side Moreirense and Auckland in New Zealand.