Hibs chief executive Ben Kensell has vowed that money from the sale of Josh Doig to Hellas Verona will be reinvested in the squad.
The left-back yesterday sealed his switch to the Italian Serie A side on a four-year contract, with Hibs netting a reported £3 million as part of the transfer.
Manager Lee Johnson has already been linked with Croatian left-back Marijan Cabraja, who is playing in his homeland with Dinamo Zagreb, as a replacement for the Scotland Under-21 international.
And Kensell insists that incoming transfer cash would be made available to Johnson as he attempts to add more fresh faces to his team.
Kensell said: “I’d like to begin by thanking Josh for his time at Hibernian FC, he’s a great young man with a big future ahead of him.
“Understandably, there’s been a lot of interest and speculation around him for a prolonged period of time, but we’ve always been in a strong, controlled position after he extended his contract with us back in November.
“We had good but drawn-out conversations with Verona, and this led to the perfect outcome for us and for Josh.
“We have received what is a really significant fee for this football club, money that will be reinvested into the first team squad.
“This is a great example of what we want Hibs to be; a club that gives young, talented players a platform to shine before they generate substantial fees to re-invest into the club and the playing squad. This is how we will grow as a football club.”
Hibs described the fee as one of the ‘highest sales figures’ the club has received and said the deal included add-ons and a ‘large’ sell-on agreement.
Manager Johnson, who did not get to work with Doig in a competitive game, said: “This deal highlights the great work done in the academy and shows the pathway for our young players.
“The terms of this deal made complete sense for us. Josh is an excellent talent and I have no doubt he will go on to have a successful future.”
