Hibernian have confirmed the Black Knight Football Club’s minority investment proposal has been officially ratified at the club AGM.
The deal - approved by the Scottish FA - will see Hibs join Bill Foley's BKFC network alongside AFC Bournemouth, FC Lorient and Auckland alongside other sporting entities.
Black Knight Football Club will invest a "significant seven-figure sum" into Hibs after the 15 percent share acquisition was formally approved. The sum will be used to develop club infrastructure at Easter Road, the club training centre and to increase the first-team budget.
Hibs had applied for a ‘dual interest dispensation request’ under Article 13 of Scottish FA rules which was approved before shareholders ratified the share acquisition at the AGM.
Bydand Sports LLC - owned by the Gordon family - remains as the majority shareholder in the club with full technical control over the running of Hibernian Football Club.
Foley said of the investment being ratified: “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 chief executive Ben Kensell added: “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.”
The Gordon family commented: “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.”
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