Hibernian FC have announced that the Scottish Football Association have given the green light to Bill Folley’s minority investment into the club.
The club held “positive” talks with the SFA in December to discuss the proposal and announced that the next stage was submitting a formal request for the approval of dual interest dispensation against Article 13.
Article 13 states that any club shareholder cannot be involved in the management of another football club, however, today Hibs announced that the SFA have allowed investment from Bill Foley despite owning AFC Bournemouth.
They said: “Hibernian FC is delighted to confirm that the Scottish FA has approved the Club’s ‘dual interest dispensation request’ that sits under Article 13.
“This decision came after a number of meetings between the two parties, alongside the Club agreeing to certain undertakings and commitments at the request of the governing body.”
The news meant the club were able to officially announce the investment from Foley’s holding company after months of speculation.
Hibs said: “The Club now has an agreement in principle with Black Knight Football Club for minority investment into Hibernian FC.
“The investment proposal will now be shared and ratified at the Club’s Annual General Meeting, which will occur in February. The Club’s shareholders will be informed of the date of the AGM in due course.”
Hibs become the third club to receive investment from BKFC, joining Bournemouth and Lorient in Foley’s multi-club portfolio.
Whilst the details of the investment are still to be confirmed, Foley did previously indicate his interest in improving recruitment at the club.
The January window has highlighted what Hibs fans could come to expect from the partnership though, with both Emiliano Marcondes and Nathan Moriah-Welsh joining the club from Premier League side Bournemouth.
Masters Student currently studying Sports Journalism at Edinburgh Napier University.
