HIBS TAKEOVER GETS APPROVAL

The minority investment into SPFL football club Hibernian from Black Knight Football Club (BKFC) has been approved at the Scottish Premiership team’s Annual General Meeting (AGM).

BKFC, which is led by US businessman Bill Foley, is currently the majority shareholder in Premier League football club AFC Bournemouth.

Its new 25% stake in Hibs is reportedly worth £6m and marks the first multi-club investment in Scottish football, after the Scottish FA approved the agreement in January.

Despite opposition from Hibernian Supporters Limited, which owns a 15% stake in Hibs, the investment was given the green light after 75% of the club’s overall shareholders voted in favour at the AGM on Tuesday 17th February.

With BKFC now on-board, Hibs’ new minority investor will commit a ‘seven-figure sum’ to enhancing its infrastructure, including its 20,000-capacity Easter Road home, as well as the Hibernian Training Centre.

Bydand Sports LLC will remain as Hibs’ majority shareholder, meaning the company’s owner the Gordon Family will continue to oversee all technical operations at the Edinburgh-based club.

“We are excited to announce a strategic partnership and investment in Hibernian FC today,” Foley said. 

“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.”

BKFC, the consortium fronted by Foley and majority-owned by Cannae Holdings, recently completed its takeover of AFC Bournemouth in November, which was worth more than £100m according to Sky Sports.

BKFC’s ownership portfolio also includes a minority investment in French Ligue 1 outfit Lorient, and newly founded A-league side Auckland.

79-year-old Foley is also the owner of reigning NHL champions the Vegas Golden Knights.