Heart of Midlothian reported a loss of £2.4m for the year ending 30 June, covering the first 12 months of Tony Bloom’s involvement with the Scottish Premiership club. Turnover topped £23m, a record for a season in which Hearts did not compete in Europe.
Hearts narrowly missed out on their first Scottish title in 66 years, losing to reigning champions Celtic on the final day of the season. Bloom invested £10m for a 29% non-voting stake in the club, which aims to benefit from his Jamestown Analytics recruitment network.
The accounts show a £1.8m gain from player trading during the period, while £7.8m was spent on acquisitions. In a statement to shareholders, Hearts said it expects a significant improvement in its next accounts, citing further momentum in player trading.
The club also said it is in positive discussions about additional investment to support its long-term ambitions. Hearts’ annual meeting is scheduled for early December.
Sources: BBC Sport Football.