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 (Tuesday 27 February, 2024).
Following AGM approval and Hibernian FC agreeing to certain undertakings and commitments at the request of the Scottish FA, Black Knight Football Club (BKFC) have completed the acquisition of 25% of the Club’s shares.
This investment and strategic partnership is the first of its kind in Scotland, with the Scottish FA approving Hibernian FC’s ‘dual interest dispensation request’ that sits under Article 13*.
Black Knight Football Club will now invest a significant seven-figure sum into Hibernian FC that will be used on developing the Club’s infrastructure at Easter Road and the Hibernian Training Centre, alongside increasing the First Team budget to aid sporting performance.
Hibernian FC will also be part of the BKFC network, which sees partnerships with English Premier League side AFC Bournemouth, French Ligue 1 club FC Lorient, and A-League side Auckland, alongside other sporting entities.
“We are excited to announce a strategic partnership and investment in Hibernian FC today,” Bill 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.”
Bydand Sports LLC – owned by the Gordon Family – remains as the Club’s majority shareholder and will keep full technical control over the running of Hibernian FC.
On BKFC’s share acquisition, 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.”
Hibernian FC 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.”
*Article 13 can be found in full from Page 86 of the Scottish FA Articles of Association.
