David Low takes swipe at Rod Petrie over Hibs bid snub

Rod Petrie, right. Pic: SNS
Rod Petrie, right. Pic: SNS
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David Low has taken a swipe at Hibs chairman Rod Petrie after having his £3.5 million bid for control of the club rejected.

The financial advisor is spearheading a consortium - including former Hibs chairman Malcolm McPherson and Frank Lynch, former owner of Carlisle-based non-league club Celtic Nation - hoping to purchase Sir Tom Farmer’s 90 per cent shareholding in the club.

However, as revealed in today’s Evening News, Low’s offer was rejected last night, prompting an attack on Petrie, whom he alleges is prioritising his own financial interests.

A statement on Low’s blog said: “On 18 June 2014 I made an offer for the shares in Hibernian FC owned by HFC Holdings Limited, Sir Thomas Farmer and Mr Roderick Petrie on behalf of myself and other investors. That offer was rejected by Mr Petrie yesterday evening (12 August). The principal reason given by Mr Petrie was that it involved no financial consideration in respect of their equity interest and shareholder loan in Hibernian FC.

“I acknowledge that both gentlemen are entitled to reject any offer they do not consider to be in their best financial interests and I accept their decision.

“However, it is apparent that Mr Petrie’s decision has more to do with personal wealth management than any Legacy for Leith and, consequently, their estimation of the value of their investment bears no relation to the reality of the marketplace.

“Regretfully, there will be no sunshine on Leith yet. Best wishes to all Hibernian fans. Be seen in green! Serva Fidem! David Low.”