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Hibs In Takeover Talks?

Hibs In Takeover Talks?

Hibs are subject to a takeover bid by Financial Advisor David Low according to a report in today's Daily Mail.

Low is said to have teamed up with former chairman Malcolm McPherson and Frank Lynch, who owned English non league outfit Celtic Nation until last summer, to make an offer for owner Sir Tom Farmer's shares in parent company HFC Holdings.

The businessmen hope to acquire the business, including football club, with a bid said to be around £3.5 million.

Low told the newspaper: 'I have made an offer for Hibernian Football Club on behalf of a group of investors.

'We were encouraged to make an offer by Mr Petrie (Hibernian Chairman), we made an offer to Mr Petrie and we have met his nominated advisors for discussions. Beyond that, the ball is now in their court.`

The financial expert also claimed to have been in discussions with supporters groups over the proposed takeover although it remains to be seen if they include Paul Kane, the former player leading the campaign to oust Petrie from the club, and his group for change Forever Hibernian.

Kane would prefer a fan ownership model and discussions between members of Supporters United and Hibs fans have already taken place.

Whether or not the bid is successful it appears both Farmer and Petrie are looking for any potential buyers to step forward and make their interest known.

With the new season starting this weekend the last thing the club needs is further turmoil in the background following last season's relegation. Hopefully this matter will be concluded sooner rather than later whatever the outcome.

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Date:Saturday August 9 2014
Time: 10:23AM

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