Chief executive Ben Kensell says that Hibs are ready for a “big summer” after their collaboration with US billionaire and Bournemouth owner Bill Foley was ratified.
At last week’s Easter Road AGM, shareholders cast their votes in favor of the minority investment. The Texan entrepreneur is expected to contribute further funds to the club, on top of the ones provided by the Gordon family, who still retain the bulk of the shares.
Kensell, who spent weeks in negotiations with the Scottish FA over the investment alongside Ian Gordon, discussed the partnership’s implications for Hibs during his speech at the AGM.
When it was first starting off, we talked about Scottish football in general, facilities, European group-stage football, and how significant and profitable it is that Aberdeen and Hearts have lately clinched group-stage football. Regarding the details of what we would require, there were none,” said Kensell.
“Several suitors were discussed, but some demanded complete ownership and control, which is improper or prohibited in Scottish football due to Article 13. That was therefore never discussed or put on the table. It was off the table as soon as we found out what those suitors’ priorities were.”
With Foley’s signature on the cheque, Hibs will get an initial £6 million investment; nevertheless, Kensell does not see a scenario akin to Hearts’ arrangement with donor James Anderson.
“Every club operates differently, and Hearts has its own model, which I have no problems with at all. This is how we’re going to do it, with the Gordon family’s help and investment as well as the Black Knight football team’s support, investment, and cooperation immediately. We’ll do what we want to do, but we still have to be successful in a league where teams are incredibly competitive,” he said. “Other clubs do things the way they want to do them.
In addition to owning Bournemouth, Foley also owns a minority share in Lorient, a team in French Ligue 1, with plans to eventually acquire full ownership. He recently obtained the necessary license to play in Australia’s A-League for an Auckland-based squad, and he’s been connected to teams in Belgium and the Netherlands. Kensell was anxious to emphasise that Hibs fans need not be concerned about their team becoming into a “feeder club” for the Cherries.
“The multi-club network will allow us to trade and understand what other clubs are doing within the network and potentially get players either on loan or from within the network and utilise other recruitment strategies and best practices,” he said.
“Our club is not a feeder club. We belong to a network. Bill and I have never used that phrase, and there has never been any talk about Bournemouth feeding anyone. We will both gain from our cooperative partnership, and other clubs in the network will also profit from it. However, we won’t do anything if we don’t think it will especially benefit Hibs. And in order to move forward, whether on or off the field, we’ll search outside of that network. As easy as that.
We’ve approved a large investment in the football team; the next step is figuring out how to proceed. We’ve already worked hard behind the scenes to determine how we’ll collaborate. We have a busy summer planned. Our players don’t have contracts. Since the Black Knight investment, our goals of playing European football and competing deep in the cup competitions have remained the same.
However, there haven’t been any further conversations. At our upcoming board meeting, some persons will be joining the board and their responsibility will be to further that agenda. They want us to achieve our desired level of success as soon as feasible. In order to put ourselves in a situation where we can compete in the European group stages the next season, we have a lot of work ahead of us. Right now, that is what we need to concentrate on. It changes the game. The winners of that game change were Aberdeen and Hearts, and they deserved it. We also wish to participate in that.”
A club that has experienced many ground-breaking moments throughout the years, Hibs is another first as they become the first Scottish club to formally join a multi-club network. Still, Kensell maintains that the cooperation was never about breaking new ground.
One of the few leagues with a multi-club ownership structure is Scotland. However, it is not the reason we are doing it. It is undoubtedly pioneering, in my opinion. In my opinion, it’s revolutionary and a game-changer for Scottish football. It seems appropriate given what the football team does, in my opinion.
“However, we didn’t do it to be the first; rather, we did it because we think it makes sense and might provide our plan the extra edge we need. We are merely the pioneering club in this regard. We want to stay trailblazers for the right reasons, and we’re proud of that.
“We’ll all agree that it’s the right thing to do as long as it advances us and helps the football club and its supporters.”
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