Bill Foley is one step closer to acquiring an ownership stake in another football club following his acquisition of the Auckland A-League license.
Hibernian FC in the Scottish Premiership are hopeful the Scottish Football Association will green light Foley’s investment with “written consent” for the American billionaire to purchase a minority stake in the club.
Due to dual interest rules, Hibs require sign off from the Hampden Park board before Foley can become officially involved. These are judged case-by-case with the understanding from UK media that representatives from Hibs have presented to the governing body.
It is thought a Friday meeting between the SFA board and the A-Leagues licencee will eventuate in the investment plans being ratified and while the amount Foley will be investing is unknown Hibs are valued at around $30.5 million (£14.9m).
When Foley spoke at the announcement of the Auckland A-League club he highlighted the multi-club approach that is starting to take shape.