Foundation of Hearts chairman reveals massive spike in pledges following Jambos’ relegation

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STUART WALLACE has revealed that the Foundation of Hearts has received more than 300 new or increased pledges since the Jambos’ relegation was rubber-stamped on Monday.

Wallace, the FoH chairman and Hearts director, has hailed the ‘incredible’ response to the Tynecastle club’s plight as fans clamour to back the supporters’ group.

Owner Ann Budge has already vowed to take the SPFL to court over the decision to demote the Gorgie outfit to the Championship, with Partick Thistle announcing yesterday that they are joining that fight.

‘Shirked’: Wallace has been appalled by the actions of several SPFL clubs

They are chasing a compensation payout thought to be in the region of £6 million after 26 clubs – in Wallace’s words – ‘chose to turn their back on us’ by voting against reconstruction.

And it is understood many fans making new donations to the FoH have made it clear that they want to aid that legal challenge as well as support the club through financially trying times.

“Many clubs in Scotland yesterday shirked their duty of care,” said Wallace.
“With a fleeting opportunity to look after a fellow member club, they chose instead to turn their back on us.

“Our incredible fans did not, yet again they met the challenge full on.
“We have had more than 300 new or increased pledges since that decision was made on Monday.”

Plans remain in place for Budge to hand over control of Hearts to FoH after they reimbursed the £2.4 million which she used to purchase the club from administration in 2014.

The transfer of ownership will take place when a final £100,000 fee is paid on the other side of the Covid-19 crisis.

FoH have already contributed more than £10 million in working capital to the club in the last six years.

Wallace added: “The supporters own this club in every way imaginable and when they soon become the majority shareholder through Foundation of Hearts, they will have earned it.”

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