Hibernian: Consortium make bid for Sir Tom Farmer's shareholding

Chairman Petrie has been under pressure following last season's relegation

A consortium of investors claim to have made an offer to take control of Scottish Championship club Hibernian.

The group have put together a bid of £3.5m for HFC Holdings Ltd, the company that owns about 98% of the Easter Road club.

Chairman Rod Petrie came under severe criticism from fans as the club were relegated last season.

Sir Tom Farmer, the majority shareholder, is believed to be receptive to a serious offer.

However, a club spokesperson said: "The principal shareholders position has remained unchanged for 23 years.

Scottish businessman Farmer has owned Hibs for over 20 years

"In the two months since relegation a number of people have expressed views about the club. There are no offers being actively pursued by the club or it's owners."

David Low, a former advisor to Fergus McCann during his time at Celtic, is a member of the bidding consortium.

Farmer is only likely to agree to a sale if he feels those who would be taking over have the best long-term interests of the club at heart.

Hibernian begin their quest for promotion back to the Premiership with a home game against Livingston on Saturday. It is unclear at this stage if Farmer will be in attendance.

The club were demoted after losing to Hamilton in last season's play-offs and join Edinburgh rivals Hearts in the second tier.

Manager Terry Butcher, who had only joined the club in November, was sacked after that defeat. Alan Stubbs leads Hibs into the new season