Anne Budge Takes Over at Hearts

The day Hearts supporters have been dreaming of for almost a year finally arrived today when Hearts exited administration. Anne Budge will take over as Chairperson on Monday and today she delivered this message to the Hearts supporters on the club’s official website.

 
"I am truly delighted to be able to confirm that I am now the proud majority shareholder in Hearts Football Club. It has been a long hard struggle to get to this point but together we have achieved our goal.

"The next few months - even years - won't be easy as we work hard to rebuild our Club. However, let's not think about that today...let's just enjoy! I have absolutely no doubt that together we will succeed.

"Thanks must go to everyone involved in helping us reach this milestone. Not only to those you all know about, but also to the teams of professional advisors who have helped us get this deal over the line...some of whom didn't get to bed at all last night! I personally owe them a huge debt of thanks as indeed do all Hearts supporters.

"As the days and weeks unfold we will, of course, share our plans for the future. However, as you will all know, we are now into the process of making a formal offer for the remaining shares in the club and while that process is in train, there are some restrictions on how much we can say publicly. So...no press conferences yet, I'm afraid. However, in the meantime, enjoy the moment. This is a great day in the history of our Club."

Ian Murray MP, Chair of the Foundation of Hearts, said:

"We are absolutely delighted as we thought this day would never come. We are only here due to the fantastic efforts of the supporters - without them this would not have been possible.

"We have had to be patient but now that the deal is officially done, the club can move out of Administration with a new dawn.

"The Foundation would like to thank everyone who has worked tirelessly to get this over the line - BDO, and especially Bryan Jackson, everyone at the Lithuanian side, the Club, Ann Budge and her team and, of course, the fans. The Hearts family has come together during its darkest hour to ensure that our Hearts are still beating. Everyone should be very proud of themselves tonight in the knowledge that they have played their part in creating history for generation of Hearts supporters to come."

Heart of Midlothian 2 Ross County 0

SPFL, Saturday 19 April 2014 – Tynecastle

It seemed like the dawning of a new era at Tynecastle on Saturday. The news during the week that Hearts look very likely to exit administration before too long – a situation they have been in since June last year – enabling Ann Budge to take over the running of the club before passing it over in years to come to the Foundation of Hearts, the supporters group, has instilled a fresh spirit of hope and anticipation in Gorgie. Yet again, the Hearts supporters turned up in their numbers – nearly 13,700 to see a team already relegated – and they chanted their support for their club incessantly, declaring they will do this forever more. Even the weather joined in the new beginning for the club as bright sunshine beamed on Tynecastle Stadium as the feel-good factor made a rare visit.

As befitting such an occasion, the Hearts players ensured the result the home support wanted by recording their third win in four league games against a Ross County side themselves embroiled in a relegation battle, with the eleventh placed side in the SPFL Premiership faced with a dreaded relegation play-off against a Championship promotion hopeful. It’s a situation Hearts city rivals also find themselves in and when legendary stadium announcer Scott Wilson announced that Hibernian were a goal down in Paisley before Hearts had even kicked off, it brought predicable loud acclaim from those in maroon.

Hearts manager Gary Locke, whose name was chanted by the home support, opted to have Dale Carrick playing the lone attacker with Ryan Stevenson playing just behind the youngster. It was Stevenson who had the game’s first real chance after six minutes when his effort from the edge of the County penalty box curled past the post.

Fine play from Carrick and another impressive youngster, Billy King, saw the latter have an opportunity to open the scoring. With this reporter having the Queen’s Shilling on King to be first scorer, I tried manfully to contain my disappointment when the youngster opted to pass to Stevenson rather than shoot for glory and the chance was lost.

The visitors enjoyed much possession but did little to threaten Hearts keeper Jamie MacDonald. The next chance fell to Hearts Ryan Stevenson but his effort from some distance flew wide, in keeping with the pattern of the first half. Half-time arrived with the game goalless but there was some cheer for the home support at the interval when Tynecastle legend Rudi Skacel appeared to make the half-time draw. Hearts fans still retain hope the great man will line up for Hearts in the Championship next season.

The second half soon adopted the pattern of the first. Carey soon had an opportunity for the visitors but his effort on goal ended in the Roseburn Stand much to the chagrin of those from Dingwall. On the hour mark, Hearts Sam Nicholson played a one-two with Billy King on the edge of the County penalty box but young Sam’s effort was easily saved by the County keeper, Brown, who was the Hibernian goalkeeper who shipped five goals in the 2012 Scottish Cup final, a fact the goading home support were keen to remind him.

Moments later, a goal did arrive in somewhat controversial circumstances. Hearts Kevin McHattie set off on a trademark run into the opposition penalty box only to be thwarted by County’s Kiss. Penalty declared referee Willie Collum who, it has to be said, didn’t enjoy the best of afternoons. The award seemed of the softish variety and the County players voiced their displeasure. Hearts Jamie Hamill, who had been booked a few moments earlier, stepped up and executed the penalty with his customary precision and Hearts were ahead. However, Hamill celebrated by picking up the ball and running towards the Hearts support in the old main stand, pursued by the referee and a posse of County players - one of whom, Songo’o, pushed the Hearts man. When County manager Derek Adams tried to intervene, he and Hamill clashed with the Staggies boss tumbling to the ground. Referee Collum then flashed a second yellow card to Hamill meaning the end of the game for the Hearts player – and also meaning he will miss next week’s Edinburgh derby at Easter Road.

A man short, Hearts were now on the defensive but it was Scott Robinson who had a chance to clinch victory; however, he opted to shoot straight at keeper Brown to ensure County remained in the game. Nonetheless, Hearts sealed a fine win in the fourth minute of stoppage time when they broke forward from a County attack. Robinson squared the ball for Dale Carrick and the youngster duly despatched the ball beyond Brown to end the scoring and continue a curious penchant for late goals in this fixture.

Hearts, it seems, have found form at a point in the season when it is too late to rectify their league position. Remarkably, victory at Easter Road next Sunday will mean Hearts will have won more league games than Hibernian this season – and also increase the prospect of both Edinburgh sides being relegated this season.

As the Hearts supporters streamed out of Tynecastle on Saturday, the spring sunshine beaming on their backs, the old adage of hope springs eternal sprang to mind. Hearts have been a sick patient this season. As it draws to a close, Ann Budge and the Foundation of Hearts resuscitation of this great club appears to be sparking a much-hoped for recovery. Perhaps next season Hearts will be fighting fit once more.

Hearts: MacDonald; Paterson, McGowan, McKay, McHattie; King, Hamill, Holt, Nicholson, Stevenson, Carrick.

Ross County: Brown, Cikos, Boyd, Kiss, Brittain, Quinn, Tidser, Carey, Slew, Oikonomu, Sango'o.

Referee: Willie Collum

Att: 13,692

Top man: Dale Carrick

Hearts Back From the Brink

The news all Hearts supporters have been hoping for came tantalising closer on Wednesday with the news then Edinburgh’s most successful football club moved a step closer to coming out of administration after creditors of the now defunct Lithuanian bank Ukio Bankas approved the sale of shares in the club.

Ukio Bankas is Hearts' biggest creditor and owns 29% of the club's shares as well as security over Tynecastle Stadium, Hearts home for the past 128 years. However, these shares will now be sold following agreement at a meeting of the bank's creditors committee in Lithuania on Wednesday.

Ian Murray MP, who has fronted the Foundation of Hearts, the fans group who hope eventually to run Hearts said: "Ukio Bankas creditors met this morning and approved the deal. Sale and purchase agreement needs completed, but we can say deal done. It is absolutely fantastic news.”

Following on from the agreement last week with the bank's parent company, UBIG, to buy the investment company's 50% holding in Hearts, it seems almost certain Hearts will exit administration in a matter of weeks thus enabling businesswoman Ann Budge to complete a £2.5m takeover of Hearts before transferring ownership to the Foundation of Hearts within five years.

Budge gave a brief statement to the media following the announcement.

"This is the beginning of a new era for Heart of Midlothian Football Club," she said. "I would personally like to express my gratitude to the fans for their support and I am confident that together we can rebuild Hearts to once again become one of the greatest clubs in the country.

"I'm very much looking forward to the beginning of this new chapter in the club's history. We're not across the line just yet but this is a very positive step and we are almost there. The fans have been magnificent throughout but I would urge them to keep backing the team in their numbers during the last few games to ensure we get to the end of the season.

"The end is now in sight and together I am confident we can achieve our target."

Hearts can now begin exiting administration after 27 April - following a 20-day ‘cooling-off’ period for the UBIG share deal. Administrator Bryan Jackson said: "This is one of the final hurdles in the transfer of ownership of the club. I would like to thank the creditors of both UBIG and Ukio Bankas for agreeing to this deal and also the patience and forbearing of Ann Budge and the Foundation of Hearts.

"There is still some work to be done to conclude proceedings, but we are now very close to a successful conclusion."

 

A Sense of Purpose

I harbour a strong suspicion I won’t be alone in wanting to see the back of season 2013/14. As Gary Locke said on the eve of the recent game with Partick Thistle, a game that finally consigned the once mighty Heart of Midlothian to relegation, it’s been a long, hard season both physically and mentally for players and supporters. Now, those who know me will all too readily tell you the chances of me running around for an hour and a half are akin to Leigh Griffiths signing for Hearts next season so, physically, I’ve not found it hard at all. However, mentally, this has been one long hard slog.

Hope rose on Monday that Hearts would exit administration this week. Creditors of major shareholder UBIG agreed to transfer their 50% holding to BIDCO, the Anne Budge-backed vehicle for future fan control through the Foundation of Hearts. However, no deal has yet been reached regarding the 29% shares held by Ukio Bankas, who hold a charge on Tynecastle Stadium. Talks will continue between lawyers representing the failed Lithuanian bank and Hearts' administrators (BDO). The major concern is that Hearts will run out of money by the end of April, so a decision from Ukio's creditors is a matter of urgency. The Foundation of Hearts spokesman, Ian Murray MP, said that a formal meeting is expected by the end of next week. The long hard slog just keeps getting longer and longer.

Of course, the 15 point deduction imposed on Hearts by the SPFL at the start of the season for the club going into administration meant Hearts were always going to fight, forlornly as it transpires, against relegation. Arguably, the embargo on signing players has had an even stronger impact. When injuries affected key players such as Ryan Stevenson, Jason Holt and Jamie Walker, it affected the team badly.

The Hearts support accepted this but it didn’t stop them turning out in huge numbers, week in, week out. Their magnificent support and unquestioning loyalty has been one of the few highlights of the season. Hindsight, they say, is a wonderful thing and I wonder if going into administration at the tail end of last season might have been an option with the drop into what is now known as the Championship for this campaign. My thinking behind this is that at least this would have made this season a wee bit more competitive than it has been. A brief spell at the beginning of the campaign apart, Hearts have spent the season cut adrift from the rest of the league. And this has robbed us of the cut-throat intensity normally associated with following this beloved team of ours.

When Hearts last played outside the top flight of Scottish football, I lived afar – 140 miles away in Aberdeen. I did go to a few games but I felt somewhat isolated. I missed the weekly passion of heading along Gorgie Road, shuffling into Tynecastle’s wide-open terracings and cheering on the boys in maroon. When I did make the trip south, the anticipation and excitement of watching Hearts take on Ayr United with around 4,000 other Jambos at Tynecastle marked me out to my friends in the Granite City as being somewhat ‘different’. The point I’m rather labouring somewhat is that there was a real purpose to going to the game, even if it was a First Division clash.

The present day Hearts team contains some of the most promising youngsters in Scotland and watching them progress and learn from experience this season has been gratifying. Nonetheless, the aforementioned 15 point deduction has meant the laddies’ task of staying in the top flight of Scottish football has been akin to climbing up Ben Nevis in the middle of winter wearing a pair of carpet slippers. The end of this season can’t come soon enough for me and, I suspect, Gary Locke and his young team.

Some of my associates, particularly those of the Hibernian persuasion, snigger when I tell them I’m really looking forward to next season. This isn’t a display of bravado, I’m being sincere. Assuming Hearts are playing in the SPFL Championship next season (and disaster hasn’t struck in Lithuania and we end up starting again in League Two a la Rangers) I’m of the view that the second flight of Scottish football next season will actually have more entertainment value than the top one.

Rangers and Hearts will likely assume the mantle of pre-season favourites for the automatic promotion place. The games against Ally McCoist’s side will likely mean full-house signs at Tynecastle with the kick-off likely to be switched to accommodate live television coverage. And this young Hearts team will have nothing to fear heading to Ibrox for what will be one of the highlights of the season.

Next season, the Championship may also include Dunfermline Athletic. I hope the Pars win their promotion play-off games as a trip across the River Forth to East End Park is always a pleasure while their manager Jim Jefferies will always be welcome to Tynecastle. Depending on who wins promotion this season, there’s also the possibility of games against Falkirk and Dundee and another short trip to Livingston. At the time of writing, one can’t even rule out the possibility of there still being Edinburgh derbies (anyone else keen to know the Hibs score this afternoon?) All of these games will prove tricky but, crucially, all will be meaningful. Meanwhile, in the SPFL Premiership, few would bet against Celtic being so far ahead of the rest come Christmas the others will require snookers just to stay in touch…

Hearts supporters have been truly magnificent this season and they can be forever proud of the support they have given their team during trying and truly exceptional circumstances. I have a feeling that, as they did back in 1977 when Hearts suffered relegation for the first time in their history, the Maroon Army will back their team in huge numbers again, despite demotion. It’s worth recalling that nearly 20,000 fans watched Hearts play fellow promotion hopefuls Dundee at Tynecastle in January 1978. Back then the fans stuck by their team. I have absolutely no doubt that they will again next season – a season that will have a sense of purpose and intensity once more.

 

Twitter @Mike1874