Hibs shareholders have voted overwhelmingly in favour of the investment package proposed by Bournemouth owner Bill Foley and his Black Knights group, with the Capital club becoming the first Scottish side to be part of a multi-club network. 

The club needed a 75% majority in favour of Resolutions 5 and 6 and both votes were passed. 

Foley said in a statement: "We are excited to announce a strategic partnership and investment in Hibernian FC today. 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.”

The Scottish FA, the Black Knights, and the Gordon family were all satisfied with the terms of the investment before the AGM and the club was confident of receiving the backing they needed when shareholders cast their votes. 

This vote was the final hurdle in Hibs’ efforts to bring in an outside partner - something Ron Gordon had been keen to do before his passing in February last year - after the Scottish FA had given the green light to the investment following weeks of talks between Easter Road chiefs and their Hampden counterparts that started late last year and continued until the end of January.

With the club owing debts to the Gordon family, a debt-for-equity agreement has been struck, with further capital calls. The arrangement effectively wipes out the debt that the club owes to the Gordons, and the club will be debt-free save for the government loan issued during the Covid-19 pandemic.

Fans group Hibernian Supporters Limited (HSL) had voiced their opposition to the proposal and many members present at the AGM declined to vote on the Resolutions.

The Gordon family said of the deal: "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.”

Bydand Sports LLC – owned by the Gordon family – remains the club’s majority shareholder and will maintain full technical control over the running of the club. 

Club chief executive Ben Kensell said: "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."