Supporter group BuyHibs today welcomed the prospect of fan ownership at Easter Road after an announcement that up to 51 per cent of the club is for sale.
Chairman Rod Petrie has urged supporters to own their club after pressure for change from the public.
BuyHibs launched last month as a fan-led group aiming to wrest control of Hibs from Petrie and owner Sir Tom Farmer. They hailed the latest board announcement as a success after a deal was struck to ensure the club is now free of bank debt, with the remaining £5 million debt owed to Farmer in the form of a mortgage.
“BuyHibs are delighted and extremely encouraged by today’s announcement from the owners of Hibernian Football Club as it contains many of the key principle BuyHibs have proposed,” said a BuyHibs statement.
“Confirmation that Easter Road Stadium and East Mains training centre will remain assets of the football club will be welcomed by all Hibs fans as it secures the future for generations of Hibs fans to come.
“Recognition that the ‘German model’ has the potential to ensure the future security and stability at the club by encouraging fan ownership and involvement and the announcement also provides an outline by which Sir Tom Farmer can leave a positive lasting legacy.
“The announcement also answers the question posed by BuyHibs as to the value placed on the club and its assets (£10m) and allows for fresh investment into the football club which again will be welcomed by Hibs fans.”