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===1990s: Attempted takeover by Hearts=== After mismanagement during the late 1980s, Hibs were on the brink of financial ruin in 1990.<ref name = "merger memories">{{Cite web |last=Murray |first=Scott |url=https://www.theguardian.com/football/2001/may/03/sport.comment |title=Merger memories |work=The Guardian |date=3 May 2001 |access-date=22 February 2010 |archive-url=https://web.archive.org/web/20131002152452/http://www.theguardian.com/football/2001/may/03/sport.comment |archive-date=2 October 2013 |url-status=live }}</ref> [[Wallace Mercer]], the chairman of Hearts, proposed a merger of the two clubs,<ref name = "merger memories"/> but the Hibs fans believed that the proposal was more like a [[hostile takeover]].<ref name = "hands off hibs">{{Cite news|url=http://living.scotsman.com/theproclaimers/Family-and-football.2650156.jp |title=Family and football |work=The Scotsman |publisher=Johnston Press |date=9 August 2005 |access-date=22 February 2010 |last=Bowditch |first=Gillian}}</ref> They formed the ''Hands off Hibs'' group to campaign for the continued existence of the club.<ref name = "hands off hibs"/><ref name=saviours>{{cite news |url=https://www.scotsman.com/sport/football/hibs/creative-accountancy-how-jim-mclean-and-others-were-unlikely-saviours-hibs-wallace-mercer-circled-2873914 |title='Creative accountancy': How Jim McLean - and others - were unlikely saviours of Hibs as Wallace Mercer circled |newspaper=The Scotsman |date=4 June 2020 |access-date=5 June 2020 |first=Alan |last=Pattullo}}</ref> This succeeded when a prominent local businessman, [[Kwik Fit]] owner Sir [[Tom Farmer]], acquired a controlling interest in Hibs.<ref name ="backseat"/> The fans were able to persuade Farmer to take control despite the fact that he had no great interest in football.<ref name ="backseat"/> Farmer was persuaded in part by the fact that a relative of his had been involved in the rescue of Hibs from financial ruin in the early 1890s.<ref name ="New Beginnings"/> After the attempted takeover by Mercer, Hibs had a few good years in the early 1990s, winning the [[1991 Scottish League Cup final]] and finishing in the top five in the league in 1993, 1994 and 1995. Soon after [[Alex McLeish]] was appointed as [[manager (association football)|manager]] in 1998, Hibs were [[Promotion and relegation|relegated]] to the [[Scottish Football League First Division|First Division]],<ref>{{Cite news |last=Buckland |first=Simon |url=http://www.sportinglife.com/football/scottishpremier/hibernian/reports/story_get.cgi?STORY_NAME=soccer/98/05/02/SOCCER_Hibernian_Nightlead.html&TEAMHD=hibernian |title=Hibernian 1 Dundee United 2 |work=[[Sporting Life (British newspaper)|Sporting Life]] |access-date=23 February 2010 |archive-url=https://archive.today/20120526230302/http://www.sportinglife.com/football/scottishpremier/hibernian/reports/story_get.cgi?STORY_NAME=soccer/98/05/02/SOCCER_Hibernian_Nightlead.html&TEAMHD=hibernian |archive-date=26 May 2012 |url-status=live }}</ref> but immediately won promotion back to the [[Scottish Premier League|SPL]] in 1999.<ref name="falkirk 2-1">{{Cite news|url=http://sport.scotsman.com/hibernianfc/Hibs-history-Hibees-bounce-back.6281921.jp|title=Hibs history: Hibees bounce back to top tier β Hibs 2β1 Falkirk, 8 May 1999|date=8 May 2010|work=Edinburgh Evening News|publisher=Johnston Press|access-date=18 August 2010|archive-url=https://web.archive.org/web/20100512031652/http://sport.scotsman.com/hibernianfc/Hibs-history-Hibees-bounce-back.6281921.jp|archive-date=12 May 2010|url-status=live}}</ref>
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