Hearts Posted Record Turnover in a Poor Season, Then Brought In Tony Bloom

In the 2024-25 season covered by these accounts, Hearts played in the Conference League league phase but finished seventh, missing the top six. They sacked two managers, Steven Naismith in October 2024 and later his successor Neil Critchley, in a season that fell well short of expectations.

Turnover still rose by around 21% to a record of around £24m, up from around £20m. The Conference League campaign was worth close to £5m, and Tynecastle crowds held up despite the results. That makes Hearts the biggest earner outside the Old Firm, narrowly ahead of Aberdeen, and shows how much a European group-stage season is worth even when it ends early.

Staff costs rose by around 16% to around £19m, around 78% of turnover, one of the heaviest ratios in the league. The filed accounts show a pre-tax loss of around £2m, narrower than the year before. The club received around £6m in donations from benefactors and the Foundation of Hearts, the supporters' group that owns the majority of the club.

The biggest change came on 25 June 2025, days before the year end. Tony Bloom, owner of Brighton and Hove Albion, paid just under £10m for a 29% stake. That cash sits on the balance sheet rather than in the income statement, and helped lift net assets to around £28m. Cash stood at around £10m. Few Scottish clubs combine fan ownership with a wealthy minority investor. These accounts show the starting point before that model was tested.