Hearts chiefs addressed Tony Bloom’s interest in investing in them again today at their AGM.
But there was also another important annual meeting taking place which would have a direct impact.
The Foundation of Hearts, the fan group which is the majority shareholder in the club, had their meeting a little later on after the club’s one today – both at Tynecastle.
Part of that was the confirmation of the results of a ballot as members voted on whether or not to reduce the threshold for possibly reducing the Foundation’s shareholding in the club.
Foundation of Hearts pass ballot
Foundation of Hearts members were asked to vote on whether or not to reduce the voting threshold for a possible share issue by the club that could reduce the group’s 75.1 per cent shareholding.
Currently, the threshold is 90 per cent and the FOH proposed reducing it to 75 per cent. This would apply should the club release a share issue that would take their holding to between 50.1 per cent and 75.1 per cent.
Crucially from their point of view, that means they would always remain the majority shareholder of the club.
For their shareholding to drop below 50 per cent, any vote would still require 90 per cent backing it.
At this evening’s AGM the resolution was passed with around 1,200 votes in favour and only 49 against.
Clearly, this paves the way for Tony Bloom’s investment as it makes it easier for him to buy shares from the Foundation – with 75 per cent of members now required to vote it through rather than the higher threshold of 90 per cent.
What is the latest on Tony Bloom investment in Hearts?
Hearts have already struck a deal to use Jamestown Analytics in recruitment and opposition analysis and confirmed they have been in talks with founder Tony Bloom about his interest in investing in the club.
The analytics were used to identify new manager Neil Critchley and are also being utilised for player recruitment for the January transfer window.
Chairwoman Ann Budge was asked about the Brighton owner at today’s club AGM and gave her thoughts.
She said: “A very experienced individual, passionate about football, passionate about helping clubs achieve as much as they can.
“We have all been quite encouraged with all the discussions we have had so far and how we could benefit from that.”
She noted: “There are two different contracts. We have already taken the step of signing with Jamestown [Analytics]. We see that as a potential game changer.”