Hearts finances laid bare: 'Robust' accounts, record turnover, six-figure loss, Tony Bloom impact
Premiership leaders in rude financial health despite loss
Hearts have hailed a "robust" set of accounts after generating a club record turnover in the same year as posting a six-figure loss.
A turnover of £24.4million for the year to June 2025 - an increase of 21 per cent from the previous year - was achieved in a season where the Tynecastle club participated in the league phase of the Conference League, with a "strong commercial performance" also noted as a contributing factor. Donations totalling £6m were also received from benefactors and the Foundation of Hearts.
Despite the record figure, the club accrued a £400,000 loss for the year, partly blamed on the financial impact of poor performance on the pitch in a season where the club failed to secure a top six finish and sacked two managers, namely Steven Naismith and Neil Critchley. The figure is reduced from the £1.2m deficit posted the previous year.
Hearts also pointed to a "healthy" balance sheet of £27.6m, boosted by Tony Bloom’s £9.86m investment in the club in June. The club clarified that "as an equity investment" the Bloom money "is not reflected in the profit/loss figures shown in the income statement."
Meanwhile, Hearts head coach Derek McInnes sees no reason to fear his team’s performances will drop off after achieving his aim of being top of the Scottish Premiership after facing every side.
The Jambos moved nine points clear with a 4-0 win over Dundee last weekend and now begin facing teams they have already come up against when they host Dundee United on Sunday. Unbeaten Hearts have won nine of their 11 matches and McInnes is looking for improvement rather than trying to hang on to their lead.
“We’ve completed the first round of fixtures and I wanted us to try and be top of the league,” he said. “Obviously, we had to work to do that.
“The good thing for us is we are there on merit, we’re not just scraping results a lot of times.
“Sometimes results are tighter than others, like every game you’d expect, and the Premier League is tight. We’re scoring plenty of goals, we’ve had plenty of clean sheets in the 11 games prior to what we’ve had already.
“I think we’re all the same as what the Hearts supporters are. We can’t wait for next fixture, to be honest.
“There’s nothing for me to feel as if there’s going to be any downturn in our performances. We just need to keep our shoulders at the wheel, recognise we need to keep improving, keep trying to win that fight with ourselves to get better and hopefully we can pick up wins as we do that.”
Hearts received more good news this week when captain Lawrence Shankland earned a Scotland recall ahead of the World Cup qualifying deciders against Greece and Denmark.
Scotland are guaranteed a play-off even if they do not leapfrog Denmark in their group and McInnes is happy to see Shankland handed an added incentive to maintain his goalscoring form.
The 30-year-old has netted 10 goals already this season and is in Steve Clarke’s squad ahead of Hibernian forward Kieron Bowie.
“I’m delighted for Lawrence, he was over the moon when I told him,” McInnes said.
“It’s good for me and Hearts and for Lawrence himself and for the national team that Lawrence has got that motivation now to be part of the World Cup.
“We’re hoping that we can get the results in the next couple of games that confirm we’re placed in the World Cup and then every Scottish player has got to be doing all they can to be part of that. It’s too big a moment for them in their careers not to be part of it.
“Lawrence is clear, his motivation has been there from the outset, from the start of the season here, but any added motivation of being involved in the World Cup must be good for us as well.”
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