Sports investor Bill Foley — the backer of Auckland’s yet-to-be-named A-League expansion club — has completed his Black Knight Group’s purchase of a 25% stake in Scottish Premiership club Hibernian.
Black Knight Group will invest £6 million in the club and will receive two seats on the Hibs board, providing neither director also sits on other boards within Foley’s growing international network of clubs.
The deal got the go-ahead at Hibernian’s annual general meeting, despite opposition from Hibernian Supporters Ltd, a fans group with up to 4,000 members, who did not want their 15.4% stake in the club diluted.
After warning they would vote against the proposal, the fans’ group abstained from voting, ensuring it went ahead.
Main photo: Bill Foley … vision for an international group of football clubs that collaborate.
Hibs chief executive Ben Kensell said:
“I think it’s game changing for Hibs and groundbreaking for Scottish football
“It obviously gives us equity and cash to use. And I think it allows us to have a strategy that we believe can give us an edge in Scottish football.
“Bill Foley has a multi-club network and we’re a small part of that. There are player network opportunities he sees great value in.
“The relationship we have specifically with Bournemouth, and the opportunity for the movement of players, allows him to get quite excited.
“We believe that gives us an edge. He believes that gives us an edge. But I make the point again that we’re not beholden to anything Black Knight want to do. It’s a partnership to make Hibs the best we can be.”
Texan sports investor Foley has often shared his vision for a collaborative group of football clubs, backed by his Black Knight Group, which would include English Premier League club Bournemouth, French side Lorient and the Auckland A-League club.
READ MORE: Scottish fans vote to oppose investment by Bill Foley’s Black Knight Group >>>>
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