Billy Foley to be given Hibs green light by SFA as Leith club finally set for multi-million investment
THE SFA are poised to formally give Bill Foley the green light to purchase a £6 million stake in Hibs.
SunSport understands the governing body are close to confirming their satisfaction the American billionaire will not have any say or authority over the actual running of the club.
Several details still need to be ironed out after six weeks of talks.
But Hibs’ chiefs – owner Ian Gordon and chief executive Ben Kensell – are believed to be very hopeful they’ll be able to officially confirm Foley’s shareholding deal for just under 25-per-cent of the club next week.
The SFA board are closing in on sanctioning his proposed massive investment only after being given guarantees and repeated assurances over his real intentions for Hibs while also being satisfied with his long established business credentials.
The SFA’s flexibility over article 13 of its regulations concerning dual ownership is now certain to lead to other such outside investments in Scottish clubs.
read more football stories
The SFA made it clear last year they would judge investment-shareholding proposals on a case-by-case basis.
Burnley’s American owners ALK Capital have already stated they are prepared to consider following up their already announced strategic football alliance with Dundee by securing their own financial stake in the Dark Blues.
It will be a hugely significant agreement for the Hibees who aim to use Foley’s cash to strengthen Nick Montgomery’s squad plus make further significant improvements to the infrastructure of the East Mains training base – primarily an upgraded indoor facility – and their Easter Road home.
Texas tycoon Foley has consistently stated his sole desire for investing in the Leith outfit is focused on their player recruitment set-up and how boss Montgomery and Hibs’ academy programme can also benefit from talent exchange and football development ideas.
Most read in Football
He said recently: “We're going through the process with the Scottish Premier League and the Scottish Football Association to ensure that we're doing things properly and that we're doing them in a way that they're happy with our participation.
“We're not going to be a controlling shareholder.
“We're going to be an investor but we certainly want to coordinate acquisition and disposition of players with Hibs - and I know they can use the help.”
The 79-year-old’s owner of Premier League AFC Bournemouth while he also a major stake in French Ligue 1 side Lorient and was recently granted a licence by Australia’s A-League for an Auckland-based franchise team to compete next year.
Foley has a grand vision of Hibs becoming Scottish football’s third force - more of a threat to Celtic and Rangers - strongly in contention for Europe and trophies.
Gordon and Kensell met with the SFA board at Hampden on December 14 and tabled Foley’s proposals.
SunSport then revealed the extent of Foley’s outlay and how the club planned to spend it.
Hibs also stressed to the SFA the Gordon family are committed to maintaining overall control of Hibs for the foreseeable future, with previous figurehead Ron passing away in February, 2023.
It was quickly clear talks had gone well.
A Hibs statement after that meeting said: “The positive meeting saw Ian Gordon and Ben Kensell outline the proposal and discuss the benefits for Hibs and Scottish football moving forward.”
Hibs fans are highly excited about the club’s future with Foley involved.
Read more on the Scottish Sun
But significant transfer moves are now more likely to be in the summer.
Keep up to date with ALL the latest news and transfers at the Scottish Sun football page