According to reports in the press over the last couple of days, Hibs owner Sir Tom Famrer is close to agreeing a deal to wipe the club's debt.
Some news outlets had announced that the club was heading towards being debt free, but the club has moved to release a statement saying any deal is far from concluded.
The club has confirmed that Farmer is in talks with the bank to secure the future of the club.
The amount the club is in debt is also open to wide speculation, with some wrongly reporting it as much as £9m
This years accounts have not been released yet, but as of accounts in 2013, the club "net" debt was £5.5m.
Depending on any losses in this years accounts, Hibs debt seems to be around the £7m mark.
According to Sky Sports, Hibs owner Sir Tom has offered around £2m to the bank (from his own pocket) for a debt forgiveness deal to send the club in to the black.
He has always said he would like to leave a legacy, and with a number of interested parties looking in to buying the club, it seems Sir Tom is making moves to secure the future of the club.
Richard Skellet seems to have jumped to the front of the queue, with the English based businessman, a Hibby originally from Edinburgh, waiting on the outcome on Sir Tom's meetings with the bank.
Hibs have now moved the AGM to January next year to allow the finalisation of the proposed deal before making an announcement that night.
The official staement from the club website reads:
Hibernian FC today announced that the AGM for shareholders will take place on 28 January. This will allow complex negotiations between the Club, the Holding Company and the Bank to be concluded.
The talks have been ongoing for some time, and have focused on the Club’s long term future. Media reports of a total debt write-off are not based on fact, and are speculative.
Leeann Dempster, Chief Executive of Hibernian FC said today: “Discussions have taken place involving the Club, HFC Holdings and the Bank.
"We have decided to hold the AGM slightly later than usual in order to allow these talks to be concluded.
"The outcome will be reflected in the Board’s plans for the future which we will present at the AGM and talk in detail to our supporters.”
Whatever the outcome of the meetings, any reduction, or wiping of the debt is an incredible move from Sir Tom, let's hope he can seal the deal.