Hibernian have announced that AFC Bournemouth owner Bill Foley’s 25% minority investment into the club has been approved by the club’s shareholders.
The Hibs board presented the investment to shareholders their Annual General Meeting this evening (Tuesday 27th of February), and the majority chose to vote through the proposal.
As a result, Black Knight Football Club – led by Bill Foley – have acquired a 25% stake in the club and will now invest significant money into Hibs on and off the field.
Hibs also join Foley’s multi-club network alongside AFC Bournemouth, FC Lorient and Auckland, as partner clubs.
They will share a scouting network, and Hibs will have access to players that would otherwise be out of their budget, evidenced by Emiliano Marcondes joining on loan from Bournemouth in January.
In an official statement, Bill Foley said: “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.”
The Gordon family will continue as Hibernian’s majority shareholders, led by the late Ron Gordon’s wife, Kit, and his son, Ian, and will retain full control of the club.
In a statement, the family said: “We are delighted that the partnership with Bill (Foley) and Black Knight Football Club has been ratified; a partnership that’ll greatly benefit the long-term future of Hibernian FC.
“We share the same values and ambitions as BKFC, and it was always part of Ron’s vision, and long-term plan, to bring in a minority partner. As a family, we have an unwavering commitment towards Hibernian FC and to building a winning, successful club.”
Investment from the owner of another club is the first of its kind in Scotland, the club had to receive approval from the SFA before it could go through, CEO Ben Kensell said: “This deal is ground-breaking in Scottish football and game-changing for Hibernian Football Club, so I’m really pleased it was ratified this evening.
“This is a really exciting time for everyone involved with Hibernian FC. The future looks very bright and fans should be excited.”
Bill Foley previously stated that Hibs can expect a six-million pounds investment in the summer, if he heeps his promise, Hibs summer transfer business should be fascinating, particularly as they are now partnered with clubs across the globe.
Masters Student currently studying Sports Journalism at Edinburgh Napier University.
