Hearts fans give backing to Bloom investment – Daily Business

Hearts fans have given their unanimous backing to Tony Bloom’s proposed multi-million-pound investment in the Edinburgh club.

A vote by members of the Foundation of Hearts saw them approve a £9.86m investment from the owner of English Premiership side Brighton, Bloom receiving a 29 per cent shareholding – a new class of non-voting shares – in return.

Votes had been cast over the past eight days and after today’s deadline of 5pm for around 8000 members to register their vote, results showed 98.5 per cent in favour of Bloom becoming a minority shareholder. Just 50 per cent of the vote was required. Of 6208, 6112 were in favour and 96 against.

The Scottish FA has to now ratify the change, with the club rubberstamping it at an upcoming EGM at Tynecastle.

FOH’s shareholding would be diluted to 53.6 per cent but they would still hold 75.5 per cent in voting shares.

Foundation of Hearts chairman Gerry Mallon said: “I would like to thank everyone who took part in the consultation process. Clearly it is a huge majority in favour and this demonstrates – once again – the passion the Foundation members have for the club and their determination to see it move forward and reap the benefits of the financial investment.

“We have a wonderful opportunity now, I believe, to begin to tackle the challenge of becoming a disruptor of the long-standing status quo in Scottish football. It will take time, and it will require the continued – and indeed increased – financial commitment of Foundation members, current and new, to achieve this goal, but we have never been better placed to reach that position.

“Tony Bloom’s decision to invest in Hearts was very much founded on the many benefits he saw at Tynecastle through the club being in fan ownership, not least its financial security through the level of our pledging. What a testament to you, the supporters, and what a moment to be able to build on this, increase our membership, and drive forward together.”