The Black Knight Football Club (BKFC), who own Bournemouth have acquired a 25 per cent stake in Hibernian for £6m; Bill Foley is managing general partner of BKFC which is led by Michael B Jordan and Nullah Sarker; Foley, Ryan Caswell and Leslie Robb have joined the club's board
Friday 8 March 2024 18:58, UK
Bournemouth owners The Black Knights have secured a 25 per cent stake in Hibernian after their £6m investment proposal was backed at the club's AGM.
The special resolution was not backed by Hibs' second-largest shareholders - Hibernian Supporters Limited - but was approved by the required 75 per cent of shareholders in attendance at Easter Road.
Hibernian say the deal - which required special Scottish FA approval due to dual interest rules - will allow Bill Foley's Black Knights to help fund developments at the club's stadium and training ground plus increase the first-team budget.
The deal will see Hibernian become part of the Black Knight Football Club (BKFC) network which includes Bournemouth, French Ligue 1 club FC Lorient, and A-League side Auckland, plus other sporting entities and is led by award-winning actor, director and producer Michael B Jordan and Nullah Sarker.
Following the deal - Foley and Ryan Caswell were named club directors and joined the board, as has Leslie Robb who is now a non-executive director having been a shareholder since 2015.
The Gordon family are still the club's majority shareholder and remain in full technical control over the running of Hibs.
"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."
Following BKFC's share acquisition, the Gordon family added: "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."
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."
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