ANN BUDGE has revealed that Hearts are on course to officially become a fan owned club by the start of next season.
Budge rescued the Jambos from impeding liquidation in the summer of 2014, shelling out £2.5m to purchase the club and its assets from administrators, BDO.
An agreement was struck that supporters’ group Foundation of Hearts [FoH] would purchase her 75.1 per cent majority shareholder once that sum had been repaid.
It was confirmed more than a year ago that £2.4m has been reimbursed by FoH — which has also supported the club with more than £10m via monthly pledges — leaving just the formality of transferring £100,000 to complete the handover.
However, the process was placed on pause during the Covid pandemic, with all parties keen to wait and mark the occasion with a suitable celebration at a packed Tynecastle. But with that prospect no closer to coming to pass, Budge has declared: why wait?
“We are working on it quite extensively at the moment,” the Hearts owner confirmed. “Last year, it made sense to put it on the back-burner because we wanted to celebrate it when it happens.
“It comes back to when supporters will be able to attend football — so, unless we can be assured that will be early next season, then why are we waiting?
“Some supporters are suspicious at times. If things don't happen then there's almost a suspicion there is something going on. Well, there isn't anything going on other than a pandemic!
“We are looking at the technicalities of what needs to happen now to just set a date for it to happen. I would like it to be in place for next season and, unless something crops up, I would like to think it can be done by then.”
Budge has also delivered an update on Hearts’ planning — or lack thereof — for their season ticket push.
Last week, she delivered a pessimistic view regarding supporters returning to Scottish stadia next term, suggesting that games may still be behind closed doors until around October or November and there would not be capacity crowds until the 2022/23 campaign. “I've said don't even think about putting season tickets on sale until we absolutely have to,” continued Budge. “It certainly won't be any time soon.
“It can't be: 'Supporters are desperate to come back, let's get season tickets out there.' That's not the right way of doing it.
“That seems weird when we're desperate for income, but if we go about this the wrong way it will be a disaster. For the next couple of seasons it's going to be essential spend, minimising loss and just surviving.”
Budge does, however, maintain that providing Robbie Neilson with a competitive side when Hearts do finally seal their inevitable return to the Premiership is ‘number one priority’ in Gorgie.
“We are all planning on being in the Premiership, although it's absolutely not a given,” added Budge. “Assuming that's the case, what do we need to do to be successful in the Premiership? Then what do we need the year after that?
“I'm trying to do a two-year detailed plan.
“The football department will be impacted in the same way as the rest of the business to a certain extent — but it's still our priority.
“So I still need to do the budget on the basis of 'what do we need to be successful?' It's no use to us if we get promoted and then can't compete, so it will still be our number one priority.”
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