Bill Foley has vowed to “help Hibernian reach new levels of success” after the billionaire Bournemouth owner’s bid to become a minority investor in the Edinburgh club was officially ratified at Tuesday evening’s annual general meeting.
The American’s Black Knight Football Club (BKFC) has completed the acquisition of 25 per cent of the cinch Premiership club’s shares after shareholders voted in favour of the deal, which was provisionally approved by the Scottish Football Association following several weeks of discussions.
Foley is expected to invest around £6million towards Hibs’ squad and infrastructure in an attempt to help establish the Edinburgh club – owned by the family of the late Ron Gordon – as Scotland’s third force behind the traditional big two of Rangers and Celtic.
“We are excited to announce a strategic partnership and investment in Hibernian FC today,” Foley told Hibs’ official website.
“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 remain as Hibs’ majority shareholder and will maintain “full technical control over the running of Hibernian FC”.
“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,” said the Gordon family.
“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.”
In addition to owning Premier League Bournemouth, Foley’s portfolio also includes new A-League side Auckland and a significant minority investment in French club Lorient.
“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,” said Hibs chief executive Ben Kensell.
“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.
“I’d also like to thank the Scottish FA for their openness, transparency, and support in getting this deal agreed.
“This is a really exciting time for everyone involved with Hibernian FC. The future looks very bright and fans should be excited.”
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