Hibs boss Alan Stubbs’ won’t be handed a treasure chest to hit the January sales following the news the Easter Road club is now free of bank debt, chairman Rod Petrie revealed.
In a ground breaking move the Capital outfit are proposing fans will have a 51 per cent share in the club with all money raised through the process will go direct into Hibs “to help fund sporting ambition”.
But, Petrie insisted, that won’t provide head coach Stubbs with a windfall just as the transfer window is about to open, adamant that Hibs will continue to live within their means.
He said: “It is important we continue to balance the books and that we live within our means, that we try and adhere to the budget we have for the coming year. This is a step along the way that will make things slightly easier going forward, but it is not an immediate injection of cash.
“Our plan is not affected by being in the Championship. We want to get promoted as quickly as we can be, we have an opportunity to do that this season and everybody is focused on trying to achieve that.
“Every year we set a budget that’s appropriate to our circumstances and it is important we try to adhere to that. But the whole ethos of the football club is about sporting ambition, passion and trying to reach the upper echelons of Scottish football.”
Asked if it didn’t irk him that Hearts and Rangers, the two teams above Hibs in the Championship, hadn’t been “solvent and stable” as he insisted his own club had been, Petrie replied: “I’m happy to concentrate on Hibernian Football club and do what is right for our club.
“I think our supporters take great pride in the way we have gone about our business over the years. What is vitally important is sporting success and that can only be achieved within a stable and encouraging environment. I think we have that here, I think the supporters see that and we will fight the fight on the field of play as best we can.”