Hearts eye administration exit

HEARTS owner Ann Budge admits she hopes the club’s exit from administration will be officially confirmed next week.

Ann Budge: Asks fans for patience. Picture: SNS

In a message to supporters to update them on the progress she is making behind the scenes, the self-made IT millionaire and Hearts season-ticket holder said she is optimistic that their insolvency process will be signed off by the Court of Session in the coming days.

Should everything go to plan, it is thought that BDO joint-administrator Bryan Jackson hopes to have the club’s return to financial health ratified on Monday, nearly a year after Hearts were plunged into the crisis.

Budge, who completed her £2.5 million takeover of the Gorgie outfit on 9 May and will run Hearts for up to five years before handing it over to fans group the Foundation of Hearts, said: “We are about to enter a very exciting period. I sincerely hope that my next communication, which will hopefully go out next week, will confirm we have formally exited administration.

“That will be followed by a series of club announcements surrounding season-ticket sales, new signings, and pre-season match details.

“Please be patient for a few days more. We are nearly there.

“Thank you for your patience and for the overwhelming support you have given – and continue to show – as we embark on the Hearts revival.”

Budge stressed, however, that she cannot divulge her entire plans for Hearts until the Public Offer deadline has passed at the end of this month. Under takeover rules, Budge – who owns an 80 per cent stake – was obliged to make an offer for the club’s entire shareholding.

She added: “It is now almost four weeks since I became majority shareholder of our club and I know many of you are waiting (im)patiently for more information regarding future plans.

“Believe me, the last four weeks have been incredibly busy for everyone here at the club. We are working hard to get things in place to enable us to move forward confidently towards what looks like being a really exciting season.

“We are very keen to share our plans with you but as you know we are still restricted in terms of what we can say because of the process surrounding the Public Offer.”