Tony Bloom makes offer for 29% of Hearts

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Heart of Midlothian FC

 

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We can confirm that Tony Bloom has made a proposal to invest capital of £9.86m into Heart of Midlothian for which he shall receive a 29% stake in the club via non-voting shares. A consultation period with our majority shareholders – @The_FOH – will now begin.

 

 

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Brighton owner Bloom bids for 29% stake in Hearts

Brian McLauchlin

BBC Sport Scotland Senior Reporter

 

Brighton & Hove Albion owner Tony Bloom has made a formal offer of just under £10m to take a 29% stake in Heart of Midlothian.

 

The proposal will be considered by fans' group Foundation of Hearts (FoH) - the major shareholder in the Scottish Premiership club - and must receive more than 50% approval from its members to be successful.

 

A consultation period will end on 26 May, with the vote taking place after an extraordinary general meeting is held.

 

Bloom would be purchasing non-voting rights shares, which would not impact the 75.1% voting rights held by FoH.

 

If successful, Bloom would also be entitled to one place on the board, but is expected to appoint a representative rather than take up the position himself.

 

FoH is recommending the terms are accepted and should this happen the Scottish FA would then be required to give its approval for the deal to be concluded.

 

In a statement issued to its members, FoH says the proposed investment is a personal one and Hearts will not become a feeder club for Premier League side Brighton or Belgium's Union Saint-Gilloise - where Bloom is a minority shareholder - or part of a multi-club system.

 

It also says Bloom believes Hearts can "disrupt Scottish football" and that he wants to be a part of a "glorious chapter" in the Edinburgh club's history.

 

Bloom's investment has been the topic of conversation for many Hearts supporters ever since his name became linked with the club last year.

 

If approved - and there is little reason to see why it wouldn't be - the cash will come at just the right time for the club.

 

With no European football to look forward to next season, the income for 2025/26 will be substantially reduced from that of this current campaign.

 

And with investment in the squad badly needed after a hugely disappointing term, an additional near £10m will be more than welcomed within the Hearts board.

 

But as we have witnessed in the past, money does not ultimately lead to success. It's about how it is spent. Value for money should be key to every transaction.

 

In a statement to its members The Foundation of Hearts, the clubs majority shareholder, says Bloom wants to "disrupt Scottish football" and to be part of " a glorious chapter" in the club's history.

 

By that, Bloom undoubtedly means challenging the top two clubs in the country. That will not come, but he is up for the challenge.

[Rousseau 11,799]

Bloom believes Hearts can "disrupt Scottish football."

 

[Sutton_blows_goats 6,209]

I think he is right. He is not a man who makes wild claims. He has a track record of disrupting Belgian football, by enabling a 'nothing club' in the sense that USG were nowhere in Belgian football to challenge for the Belgian title for example. They are currently top.

 

All he has to do is build a Hearts team that can beat the rest of the SPFL dross and they will compete for the title. Us and them you would think would take points from each other.

[compo 7,965]

Would be nice to have the two Edinburgh clubs competing for the title.

[Bluedell 6,133]

I remember a young Tony Bloom from his Late Night Poker days.

 

It's interesting that the shares are non-voting, presumably not to impact the FoH outright majority. What's the point in that for him, if he's limited in a say in the decision making?