Scotland’s Hibernian sold to US-based investor

July 3 – Scottish top-flight club Hibernian are the latest team to be taken over by American investors with the announcement that multi-millionaire businessman Ronald Gordon, whose grandfather emigrated from Scotland in 1908, now in charge.

Peru-born Gordon, who has lived in the US since the age of 15 and has a background in broadcasting and banking, has bought out Sir Tom Farmer, Hibs’ owner since 1991, and chairman Rod Petrie, who is leaving the board.

The deal is via Gordon’s company Byland Sports LLC which has bought a majority shareholding, a deal that reportedly wipes out debts of around £3 million, with a “seven-figure cash injection”.

Gordon, who becomes executive chairman, told the club’s website: “I know that Hibernian is the right club for me, and I am committed to working with supporters, other shareholders and everyone connected with Hibernian to build on Sir Tom’s legacy and take the club forward.

“I have been looking for a football opportunity for about three years. I really wanted to get into the game, I have loved the game since I was a child.

He added in media reports: “I looked at several clubs in three or four countries – Scotland, England, Spain and the United States. I made expression of interest in one club in England, but once the Hibs opportunity became live, that was it.

“When I looked at Hibs and reached out to Rod Petrie and began a dialogue it became clear to me that this was a very special club that had a lot of positive things going for it, an incredible fanbase, a great infrastructure and great leadership.”

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