Bill Foley: Hibernian shareholders group to vote against American's £6m investment in club
- Published
Bill Foley owns a controlling stake in Bournemouth and wants to buy shares in Hibernian
A Hibernian shareholders group plans to vote against the proposed £6m investment by Bill Foley at the club's annual meeting on Tuesday.
Hibernian Supporters Limited (HSL) owns more than 15% of the club and one of its key objectives is to own a "meaningful stake".
Should Foley's investment be voted through as expected, HSL's shareholding would take a significant drop.
The American billionaire, 79, will not attend the AGM at 18:00 GMT on Tuesday.
On the HSL website, it says it has "received little context or explanation around any of the proposals and have, in the main, relied on media reports to stay engaged with the progress".
The Scottish Football Association (SFA) has given its approval to the investment by Foley and his Black Knight consortium, which also holds a controlling interest in English club Bournemouth along with a licence for a new team in New Zealand, and a minority interest in French side Lorient.
The maximum shareholding Foley would be allowed to own in Hibs is 29.9% and his proposed investment would give him a 25% stake.
The Gordon family hold a majority shareholding in the Easter Road outfit.
On the park, Hibs are seventh in the Scottish Premiership and have seven games left to secure a top-six finish, with Dundee currently two points ahead.
Nick Montgomery's side will host Rangers in next month's Scottish Cup quarter-final.
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