Tony Bloom speaks for the first time on his £10m Hearts deal as a new Tynecastle director is named.
EPL chairman appoints James Franks to the Tynecastle board in the SPFL.
Hearts revealed today that Tony Bloom’s £9.86 million investment transaction has been completed, with the gaming entrepreneur joining the board at Tynecastle Park with his long-term associate James Frank. Bloom’s arrangement was legally ratified by Hearts shareholders at an EGM last week, and he has decided to include Franks in the club’s hierarchy as a non-executive director.
The multi-millionaire Brighton and Hove Albion chairman owns a 29 percent ownership in the Edinburgh club, but his shares are non-voting to protect the Foundation of Hearts’ 75.1 percent voting rights on behalf of fans. Bloom also helped introduce the sports data firm, Jamestown Analytics, to Tynecastle officials last year and they have since become Hearts’ recruitment partner.
Bloom spoke for the first time about why he chose Hearts as a club to join. The Edinburgh News originally reported on his investment plan in September, and months of negotiations have now come to fruition.
Bloom is the largest shareholder in Brighton of the English Premier League, as well as a minority ownership in Union Saint-Gilloise of Belgium and Melbourne Victory of Australia. He feels Gorgie has genuine growth potential and hopes to see Hearts compete with Celtic and Rangers in the long run.
“I am absolutely thrilled to be investing in Hearts,” he told the club’s official website. “I am confident that the club will be able to shatter the long-standing trend of dominance in Scottish football. This fantastic club has a bright future, and I’m excited to see how it unfolds in the coming months and years.
James’ nomination as my representative on the board demonstrates how important I consider my investment in the club. James has been a close associate of mine for many years, and I feel that his extensive football industry knowledge and great business acumen will be a huge benefit to the board and the club.”
Franks admitted to being a proud Jambo: “I am honoured to become a board member at Hearts,” he stated. “From my first visit to Tynecastle in March 2024, as the first stage in the investing process, it was clear to me how unique the club is.
Bloom deal done in Scotland as Hearts join his clubs in the EPL, Belgium and Australia
Hearts issued the following statement: “Heart of Midlothian is delighted to confirm that the process for Tony Bloom’s investment in the club has now been completed.” Tony spent £9.86 million in Hearts, receiving a 29 percent ownership in the club in the form of non-voting shares.
“The club would like to formally welcome Tony to the Hearts family and look forward to working with him to build a long and fruitful partnership. As part of his investment, Tony has the right to propose a member of the board of directors. The club has confirmed that James Franks will join the board as a non-executive director.
“James has been Tony Bloom’s legal and strategic business consultant for nearly two decades and has extensive experience of football governance.
He was a key part of Tony’s investment in Hearts, as well as his investments in Royale Union Saint-Gilloise in Belgium and Melbourne Victory in Australia, acting as a business counsel on the transactions and leading the process to conclusion.” Hearts CEO Andrew McKinlay sees a promising future for Bloom and Franks:
“It is with great pleasure that I can now, on behalf of everyone at Heart of Midlothian, officially welcome both Tony and James to the club.” Today’s news marks the culmination of our fans’ belief and support, and I am grateful for their support.
When Tony’s investment plan became public in May, it piqued the interest of our supporters, as evidenced by Foundation of Hearts members voting 98.5 percent in favour of it. “A vast amount of hard work has gone on behind the scenes to transform a plan into a reality, and I’d want to thank everyone involved for producing what is a highly significant moment in this club’s history.
Again, I speak on behalf of everyone at Hearts when I say we are eagerly anticipating working with Tony and James as we embark on this journey together.”
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