Bill Foley: The Hibernian shareholders group will reject the £6 million American investment in the team.

At Tuesday’s annual meeting of the club, a faction of Hibernian shareholders intends to vote against Bill Foley’s proposed £6 million investment.

Having a “meaningful stake” in the club is one of the main goals of Hibernian Supporters Limited (HSL), which owns more than 15% of the organization.

If Foley’s investment is approved by the referendum as anticipated, HSL’s ownership would decline dramatically.

The 79-year-old American billionaire will not be present at the AGM on Tuesday at 18:00 GMT.

On the website of HSL, it states that 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 investment by Foley and his Black Knight group, which already has a minority stake in French team Lorient and a controlling interest in English club Bournemouth as well as a license for a new team in New Zealand, has been approved by the Scottish Football Association (SFA).

With his suggested investment, Foley would possess a quarter of Hibs, the maximum amount of shares he is permitted to buy at 29.9%.

The Easter Road company is mostly owned by the Gordon family.

With seven games remaining to guarantee a top-six finish, Hibs is now two points clear of Dundee in the Scottish Premiership.

The team led by Nick Montgomery will play Rangers in the quarterfinal of the Scottish Cup next month.

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