Monday, May 16, 2022
SportHeartsFoundation of Hearts hand over record £150,000 sum to Tynecastle club

Foundation of Hearts hand over record £150,000 sum to Tynecastle club

HEARTS fans’ group Foundation of Hearts (FoH) have handed over a record monthly sum of £150,000 to the Tynecastle club.

Membership levels have also reached a new high of more than 8000 pledgers as supporters rally behind the Jambos’ cause following a tumultuous summer.

Hearts saw several attempts to overturn their contentious relegation to the Championship fail and will now be liable for legal costs – along with Partick Thistle – after an independent arbitration process ruled in favour of the SPFL on Monday.

Tynecastle Park | Hearts news
Tynecastle Park

The capital club also faces the financial challenge of not playing a competitive match until October, allied with the ongoing budgetary concerns every side is facing during the Covid-19 crisis.

So the FoH’s cash injection will prove pivotal, as will the news that Hearts have shifted more than 8,500 season tickets for the upcoming campaign.

Plans remain in place for club owner Ann 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 when the uncertainty caused by the coronavirus outbreak eases.

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

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