24th August, Kenny Waugh sold his 406,000 shares in Hibs to 33-year-old Edinburgh born Hibs supporter David Duff. Duff, was a Swindon based lawyer and businessman. In doing so Duff became Hibs fifth owner since the war. His brother-in-law, Jim Gray, was appointed Managing Director.
Mr Duff used £99k of his own money and used his company Highmace Ltd, to raise a further £800k for the buy-out via a loan from a company owned by Monaco-based multimillionaire Mr David Rowland. This loan was in turn borrowed via a Panamanian-registered company also owned by Rowland.
Rowland later gifted 30% of Hibs to Duff. By this stage the club was then valued at £4m. Duff later sold back 15% to Rowland and netted himself a personal profit of £1.5m. Rowland increased his stake, borrowing the money from Inoco, another one of his companies, with the purchase of 1.5 million shares in Hibs at the cost of £500k. Kenny Waugh retained a position on the board.
August, Neil Orr is signed from West Ham for £100,000. He scores on his debut in a 3-1 win in the League Cup against Queen of the South.
Hibs appointed the first female director of a football club onto the board, Sheila Rowland, David Rowland’s ex-wife.
October, the Australian branch of the Hibernian Supporters Association was former.
10th October, Andy Goram made his debut against in a 4-0 win over Dunfermline after signing from Oldham Athletic for £325,000.
May, goalkeeper Goram managed to score in final game of the season in a 3-1 win over Morton.
Season results –
Scottish Cup 4th round
League Cup Q/F
League SPD 6/12 Pld44 W12 D19 L13 F41 A41 Pts43
Originally Posted by big-mo
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