THEY know a good footballer when they see one down Leith way despite the fluctuating fortunes that Hibernian have traditionally experienced.

The levels of excellence which The Famous Five – Gordon Smith, Bobby Johnstone, Lawrie Reilly, Eddie Turnbull and Willie Ormond – displayed during a halcyon era in the late 1940s and early 1950s will never be attained again by any group of Hibs players.

Joe Baker, Scott Brown, John Brownlie, Peter Cormack, Arthur Duncan, Steven Fletcher, Leigh Griffiths, Russell Latapy, John McGinn, Jackie McNamara Snr, Garry O’Connor, Derek Riordan, Franck Sauzee, Pat Stanton, Anthony Stokes and Mickey Weir, though, have all shone in a green and white jersey over the years and are adored by supporters as a result.

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READ MORE: Ronald Gordon seals Hibernian takeover

But Sir Tom Farmer, a man who has never made any secret of his dislike of football and who rarely attends matches, is probably as revered by Easter Road fans as any of those celebrated names.

Stepping in to save the Edinburgh club from extinction following a hostile takeover attempt by Wallace Mercer, the then owner of Hearts who was proposing to merge the city rivals, back in 1991 endeared him to followers of Hibs forever.

But Farmer’s shrewd stewardship of Hibs since his initial £3 million acquisition 28 years ago, the occasional success the team have enjoyed on the park and the undoubted progress which has been made off it have simply increased their admiration of him.

Nobody complained when the founder of the Kwik Fit chain of garages was inducted into the Hibernian Hall of Fame back in 2010 along with Baker, Duncan, Johnstone, McNamara Snr, Ormond, Reilly, Smith, Stanton and Turnbull.

Hibs announced yesterday morning that Peru-born, United States-based businessman Ronald Gordon has bought a majority shareholding in the 143-year-old institution and that owner Farmer along with chairman Rod Petrie would be standing down from their roles.

The 78-year-old – who learned from anti-merger campaigners upon taking ownership of Hibs that his grandfather had saved the club from bankruptcy 100 years before him – has left a lasting legacy.

Would Easter Road be the magnificent, 20,421-capacity, all-seated stadium it is today without him? It is inconceivable. He oversaw the complete rebuilding of the ground in three stages; The Famous Five and South Stands were completed in 1995, the Main Stand followed in 2001 and the East Stand opened in 2010. In addition, the Hibernian Training Centre, build at a cost of £5 million, was opened at East Mains in 2007.

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READ MORE: 'It had to be the right person': Sir Tom Farmer reveals plan to protect Hibs legacy

There have been some noteworthy results during his tenure. The League Cup was won in 1991 and 2007. They have played in European competition on 10 occasions. But winning the Scottish Cup for the first time in 114 years in 2016 with that thrilling triumph over Rangers at Hampden was the undoubted highlight.

Ensuring the continued financial stability of the club, however, was perhaps his greatest gift to the club he was brought up in the shadow of. The catastrophic implosion of Rangers in 2012 showed the dangers of spending recklessly to achieve on-field success. That was never a trap the astute businessman fell into despite occasional unrest in the stands when the team was struggling. He personally offset losses himself.

He also renegotiated the mortgage debt and replaced it with an interest-free loan which has, with the investment from Gordon, now been written off.

Sir Tom revealed yesterday that he has had numerous opportunities to sell up over the years and has resisted them all because he was keen to leave Hibs in the hands of somebody who would not jeopardise its existence. His endorsement of his successor, then, augurs well for the future.

“Ron’s passion for Hibernian and its origins and his commitment to the community and the engagement he wants with supporters shone through,” he said.

The outpouring of gratitude on social media websites – with many calling for the Main Stand or the West Stand to be renamed the Sir Tom Farmer Stand in his honour – underline how much he has meant to Hibernian and how successful his reign at Easter Road has been.

Ronald Gordon has a lot to live up to and a hard act to follow.

AND ANOTHER THING

THERE have been a few Celtic signings over the years who have bombed spectacularly and failed to justify the outlay it has taken to secure their services.

Perhaps the worst was the dreaded Rafael Scheidt, the Brazilian centre half who joined the Parkhead club in a £5.6m transfer from Gremio in his homeland in 1999.

The defender made just one start and three appearances for the Glasgow club in total and was offloaded a year after arriving when Martin O'Neill took over as manager.

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READ MORE: Celtic defender Marvin Compper quits Parkhead to join German side Duisburg

He was later described as the second worst transfer in football history behind Steve Daley, the Wolves midfielder who joined Manchester City in a £1.5 million transfer in 1979.

But Marvin Compper, who brought his wretched spell at Celtic to an end yesterday when he joined German third tier club Duisburg, was every bit as disappointing as both Scheidt and Daley.

It was hoped he would be the cultured, ball-playing centre back who would enable Brendan Rodgers's side to compete at the highest level in Europe when he was signed in a £1m transfer from RB Leipzig in January last year.

He made just one first team appearance - in a League Cup win over Championship club Morton - in his time in this country.

Offloading him will help to reduce the dead wood in the bloated Celtic squad further and cut down a wage bill that doubled under Rodgers.