Hearts announce £2.4m loss in Bloom's first year

Summarised from 2 outlets · Updated 4 Nov, 17:45 · Archive

Hearts have announced a loss of £2.4m for the year ending 30 June, the first year of Brighton owner Tony Bloom's involvement.

Heart of Midlothian have announced a loss of £2.4m for the year ending 30 June, the first 12 months of Brighton & Hove Albion owner Tony Bloom's involvement with the Scottish Premiership club. The accounts show a turnover of more than £23m, a record for a season without European competition, following a final-day defeat to Celtic that cost them their first title in 66 years.

Tony Bloom will support much of the deficit as part of his Jamestown Analytics investment into the club. Hearts spent around £7.8m in acquisition costs and £1.8m was gained on player trading during the period, with staff costs up 8 per cent. The club pursued a strategy of speculation to accumulate, investing in their squad to improve their prospects.

Hearts expect a significant improvement in their next set of accounts due to revenues from European competition and further player trading, including the £1.7m sale of Alexandros Kyziridis to Turkish side Corum. The club indicate they are also 'engaged in positive discussions regarding further investment' to assist with their long-term ambitions. Hearts' annual meeting will take place in early December.

How it is being reported

• Hearts record £2.4m loss in Bloom's first yearHeart of Midlothian record a loss of £2.4m for the year ending 30 June, despite a turnover of more than £23m the first 12 months of Brighton owner Tony Bloom's involvement.BBC Scotland · 4 Nov, 17:00
• Hearts announce £2.4m loss but stark figures come with Tony Bloom and Euro caveatsThe Jambos have registered a significant loss but Tony Bloom will support much of the deficit as the club speculate to accumulateDaily Record · 4 Nov, 17:00

In this story: Heart of Midlothian · Tony Bloom · Brighton & Hove Albion · Celtic · Jamestown Analytics

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem · Corrections log