Brighton and Hove Albion owner Tony Bloom believes that he can help Hearts “disrupt Scottish football” having worked with the club since last year.
Bloom, 55, has proposed investing almost £10 million in the Edinburgh club in exchange for a 29 per cent stake in the club via non-voting shares.
If the transaction is approved by the club’s majority shareholder, supporters group Foundation of Hearts (FOH), Bloom will also be entitled to one seat on the board.
He does not plan to become a member of the Hearts board but to appoint someone on his behalf.
The Brighton owner’s links to Hearts began last year when the Tynecastle club agreed a partnership with Jamestown Analytics, an offshoot of his Starlizard data analytics firm.
The firm has underpinned the recent success of the Seagulls and the Belgian side Royale Union Saint-Gilloise. Bloom has a stake in Union and in the Australian side Melbourne Victory.
The Scottish club issued a statement today (Tuesday 6 May): “Heart of Midlothian can confirm that Tony Bloom has made a proposal to invest capital of £9.86m into the club for which he shall receive a 29 per cent stake in the club via non-voting shares.
“A consultation period with the club’s majority shareholders – the Foundation of Hearts – will now begin.
“The consultation will explain the proposal to FOH members and ascertain their views before asking them to vote on this.
“A majority of FOH members’ acceptance is required (as determined by the FOH board) for the proposal to be successfully carried forward.
“Following the FOH consultation process, an extraordinary general meeting of the club’s shareholders will be called in order to formally approve the transaction.
“In the meantime, the transaction remains subject to entry into legally binding documentation, SFA approval and other normal course regulatory requirements.”
Bloom’s reason for wanting to invest in Hearts is outlined in a more detailed update on the Foundation of Hearts website.
It said: “He believes Hearts can disrupt Scottish football and he wants to be a part of a new glorious chapter in Hearts’ history.”
The club would not become part of a multi-club organisation.
The FOH update added: “This proposed investment is being made by Tony Bloom on a personal basis as an individual.
“Although Tony Bloom does have ownership interests in three other football clubs, he has never sought to tie those clubs together in a ‘multi-club system’.
“The transaction has also been structured carefully to ensure that it remains compliant with football regulations relating to multi-club ownership.”
