Hibernian shareholders have ratified a £6 million investment from Bournemouth owner Bill Foley.
Contents
Hibernian FC is delighted to announce that Black Knight Football Club’s minority investment proposal was ratified at the Club’s 2024 Annual General Meeting this evening.
— Hibernian Football Club (@HibernianFC) February 27, 2024
25% for Black Knight Football Group
Bill Foley owns Black Knight Football Club which includes investment in Bournemouth and French side Lorient.
Foley’s group will now hold a 25% stake in the Scottish club. The minority investment was voted through at Hibernian’s Annual General Meeting on Monday, February 26.
BREAKING: Bournemouth owners Black Knight Football Club have confirmed that they have reached an agreement with Hibernian FC to invest £6m in the club in exchange for a 25% stake ⬇️ pic.twitter.com/C8KTwKFpKV
— Sky Sports News (@SkySportsNews) February 27, 2024
A “strategic partnership”
Following the confirmation of the deal, 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.”
Hibernian FC Chief Executive 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.
“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.”
Foley’s plans for Hibernian
Included in Foley’s plans for Hibernian is to update the training ground, as well as Easter Road.
Kensell also assured fans that: “There will also be significant funds available to football, have no doubt about that.”