Bill Foley Hibs bid latest as Bournemouth owner's reps make Easter Road visit
American billionaire hopes to secure a minority stake in Hibs and create a link with his Premier League outfit.
Bill Foley's representatives have visited Easter Road as the American billionaire edges closer to a deal for a non-controlling share in Hibs.
Talks between the club hierarchy and SFA chiefs over green lighting the Bournemouth owner’s bid for a minority stake are continuing positively. And while the 78-year-old has yet to set foot in the club’s facilities in Leith or their East Mains training centre, representatives of his Black Knight consortium have been in Edinburgh for a look round.
Foley is planning to invest an initial sum close to £6m for a stake just under 25 per cent with majority shareholders Ian and Kit Gordon retaining overall control of the club.The Bournemouth supremo hopes player exchange and information sharing can boost both clubs and ultimately help the Cherries clinch a spot in Europe for the first time in their history. Hibs however are adamant they will retain 100 per cent control of their own recruitment under any deal with Foley.
Further improvements to the Easter Road stadium would be a huge part of the American’s initial investment - alongside upgrading the HTC training facilities and boosting manager Nick Montgomery’s transfer budget.
However the deal - should it go through - is highly unlikely to be complete in time to affect the January transfer window despite talks with the governing body progressing positively.
Should it get the green light then Hibs will link-up with the Black Knight stable which owns the Vegas Golden Knights ice hockey team, Premier League Bournemouth and has a minority stake in French club FC Lorient as well as a new A-League franchise in Auckland.
Foley has had no direct contact with the SFA at this stage. But the plan to direct a major chunk of his funds into the club’s facilities mirrors what’s happened at Bournemouth where the Premier League side hope to revolutionise their Vitality Stadium ground by the summer of 2027.
The ambitious businessman also spoke last week of his plan to take Bournemouth into Europe for the first time in their history within five years. Speaking when his bid for Hibs first became public the 78-year-old said making the Leith side Scotland’s third force and securing European football every year would be the target.
He reckons building links between the Cherries and the other sides in his multi-club plan will help that by sharing expertise, with player exchange between clubs and the best of those winning deals at Bournemouth.
He said last week: “That is my goal, to develop these other teams in support of Bournemouth and for Bournemouth to support those other teams.”
Hibs chiefs were at pains to point out the Easter Road club will NOT be a feeder club to the Premier League side though and they will retain full power over any decision to take a player from Bournemouth.
The SFA are considering Foley’s bid. Hibs are set to submit a formal request in the new year for the approval of dual interest dispensation against article 13 which prohibits club owners from becoming involved in the management or administration of another team without permission of the board.