Hibs have described talks with the Scottish FA over minority investment from US billionaire Bill Foley as 'positive'.

The club will now submit a formal request for the 'approval of dual interest dispensation against article 13' of the governing body's rules. Hibs chief-executive Ben Kensell and head of recruitment Ian Gordon met with the SFA board on Wednesday to discuss investment from AFC Bournemouth owner Foley, who also has a stake in French side Lorient and has acquired a license to operate an Auckland-based club in the A-League.

The talks focused on presenting the proposal to the game's powerbrokers and detailing the 'benefits for Hibs and Scottish football'. Hibs are hopeful a formal submission will be accepted by the Hampden board, who consider requests on a case-by-case basis.

The potential investment has stirred considerable excitement and intrigue among supporters, and Hibs moved to provide an update on Wednesday evening.

A club statement said: "Hibernian FC can confirm that the club met with the Scottish FA board on Thursday 14 December, 2023 to discuss a minority investment proposal. The positive meeting saw Ian Gordon and Ben Kensell outline the proposal and discuss the benefits for Hibs and Scottish football moving forward.

"The club looks forward to the next stage of the process, which is submitting a formal request for the approval of duel interest dispensation against article 13. There will be no further comment at this time."

READ MORE: Hibs optimistic as Bill Foley investment D-day arrives

Earlier on Wednesday, Foley discussed his interest in Hibs on a radio interview with talkSPORT, emphasising that he would not be taking a controlling stake at Easter Road, but expressing confidence that the club would benefit from 'help'.

He said: “We're going through the process with the Scottish Premier League (sic) and the Scottish Football Association to ensure that we're doing things properly and that we're doing them in a way that they're happy with our participation. 

“We're not going to be a controlling shareholder, we're going to be an investor but we certainly want to coordinate acquisition and disposition of players with Hibs and I know they can use the help.”