A group which includes David Low, a former advisor to Fergus McCann during the Canadian's time in charge at Celtic, and former Hibs chairman Malcolm McPherson has reportedly put together a £3.5m bid for the Edinburgh club's parent company HFC Holdings Ltd.
That has brought them into competition with Forever Hibernian, which is fronted by former player Paul Kane. Although a Hibs spokesperson has insisted that "there are no offers being actively pursued by the club or its owners", it is understood that Hibs' majority shareholder Sir Tom Farmer could be receptive to a bid for his 90% stake.
This has alerted other parties to consider offers too, but Forever Hibernian have not been dissuaded from continuing their own bid for the club. The ultimate aim of the group is to control a 51% majority shareholding through a membership scheme, not dissimilar to the Foundation of Hearts across the city, while also attracting alternative finance for the remaining 49%. Talks have already taken place with the club, with the group's first proposal being turned down.
Hibs officials have been satisfied more by their meetings with Eddie May and Graeme Mathie, who have both assumed roles at the club. May has been appointed as the academy coaching manager - a role he began in earnest last week - while Mathie has become head of player identification and recruitment and will be reported to by Steve Marsella, who is still working for the club.
"We're delighted to be able to bring both Eddie and Graeme to the club," said George Craig, who was appointed head of football operations at the club earlier this summer. "Graeme will oversee all player recruitment, from the first team right down to the transition academy.
"Graeme spent four years in player recruitment at Celtic and he has already been working alongside the club during the summer transfer window, which has led to the arrival of some quality players."