Shareholders approve buy-in at Hibs AGM
Board ready to spend ‘significant funds’ on squad
Hibs shareholders have given the green light to billionaire Bournemouth owner Bill Foley’s £6 million buy-in. The resolutions relating to the American’s bid for a minority stake in the Easter Road club were voted through at tonight’s Annual General Meeting, clearing the required 75 per cent majority threshold.
As first revealed here in October, Foley plans to turn Hibs into the undisputed third force in Scottish football, with regular European football a key element of their addition to his stable of clubs. As well as holding a controlling interest in Premier League side Bournemouth, the 79-year-old’s Black Knight Football Group owns a stake in French club Lorient – and has the licence for a new A-League Franchise in Auckland.
The American welcomed the conclusion of negotiations, saying: “We are excited to announce a strategic partnership and investment in Hibernian FC today. We look forward to partnering with the Gordon Family and other shareholders to accelerate the success of Hibernian FC and BKFC.
"We believe this partnership, with our commitment to invest in player development and infrastructure, can help BKFC and Hibernian FC reach new levels of success and help Scottish football continue to grow.”
Hibernian FC Chief Executive Ben Kensell hailed tonight's vote, saying: “This deal is groundbreaking in Scottish football and game-changing for Hibernian Football Club, so I’m really pleased it was ratified this evening.
“The Gordon Family and I spent months in dialogue with Bill and Black Knight Football Club to ensure they were the right partners for this fantastic club, and during that time we quickly realised we were totally aligned with our ambitions for Hibernian FC.”