Landslide vote expected for Tony Bloom’s Hearts investment.
Tony Bloom’s proposal to invest in Heart of Midlothian is expected to pass with a landslide vote. The Brighton & Hove Albion owner has offered injecting £9.86 million into the club in exchange for a 29 percent stake. Those shares will constitute a new class of non-voting shares. For the past nine days, Foundation of Hearts members have voted on whether to approve the plan, which requires more than 50% of votes to pass. It would reduce the Foundation’s investment in the club to 53.6%, although they would retain 75.5% voting rights.
According to Hearts Standard, the vast majority of ballots cast are in favour, and the approximately 8,000 FOH members that voted turned out in big numbers. A decision is expected to be made this evening following the 5 p.m. deadline for votes, after which the club will hold an EGM to rubberstamp it. Bloom has already paid a visit to the Scottish FA prior to any agreement being finalised. Instead of sitting on the club’s board, the businessman is anticipated to choose someone on his behalf. The Foundation had a consultation meeting earlier this month, at which chairman Gerry Mallon explained the benefits of the investment and why the FOH supports it.
Members could ask questions and learn more about the investment. “He has no exit strategy; he wants to be here for the long haul,” Mallon stated. “He has totally convinced me that he wants to shake up football, make a real impact, and challenge the existing quo in Scottish football. “He has looked at the potential clubs he could invest in and he has come to the conclusion that by far and away Heart of Midlothian is who sees as having the greatest opportunity to break the status quo.”
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