Ann Budge humbled by “astonishing” generosity of anonymous Hearts benefactors

Syme

Well-Known Member
Ann Budge says she is humbled by the “astonishing” generosity of the anonymous benefactors ploughing money into Hearts.

The capital club announced a £1.6 million profit in their accounts for the year ending June 2019, largely due to an injection of £3.25m from the mystery backers.

The individuals – plural, as Budge, pictured, is keen to emphasise – have now contributed a staggering £9m in the past three years.

However, the Hearts owner has sought to quash any suggestion that the benefactors are having a say in how the cash is spent.

It’s not just a benefactor, it’s a group of people who have supported us,” she explained. “It’s just amazing and I can’t really explain it.
“At the start [2014] they believed we were doing a really good thing by saving the club.
“It’s all about ethos and values and they’re still supporting that.
“No-one has a say in what goes on here. I chat with them and give them updates every now and then, but it’s purely a philanthropic donation.”

Budge also dismissed any fears regarding an over-reliance on their backing, insisting the club would simply have to cut its cloth accordingly if they did not have those additional funds to call upon.
“Last summer we brought players in because we had their support,” said Budge. “We wouldn’t have done it if we didn’t have the money. They asked if we’d like help with the player budget, which was astonishing.”

Budge has also revealed that Hearts could complete their transition into fan ownership as early as February. The formal handover of power to supporters’ group Foundation of Hearts [FoH] was expected to happen in late Spring of 2020 but the parties are ahead of schedule.
FoH has 7500 paying members and has contributed more than £9m to the club in working capital and to the Tynecastle Development Fund, which included the construction of the new stand. The group already has one representative on the board of Hearts, Stuart Wallace, and will officially purchase a 75.1 per cent controlling stake from Budge next year when FoH repay the £2.5 million she used to buy the club from the jaws of liquidation in 2014.

“We are still well on course,” she said. “Everything could be completed even earlier than that [spring] – possibly in February or March. It will be nice to get to the position where I feel we’ve done what we set out to do, we’re in a really good place and I don’t have to worry about something going badly wrong.”

How does this work, does FFP not come into play with Hearts? I would think they would be keeping a close eye after the Romanov era with dodgy Russian money being laundered through the club.

If it was us they would be calling for our heads!
 
Something dodgy with that no doubt but even then that much money invested and the fact they are nearing relagation this season is hilarious
 
Ann Budge says she is humbled by the “astonishing” generosity of the anonymous benefactors ploughing money into Hearts.

The capital club announced a £1.6 million profit in their accounts for the year ending June 2019, largely due to an injection of £3.25m from the mystery backers.

The individuals – plural, as Budge, pictured, is keen to emphasise – have now contributed a staggering £9m in the past three years.

However, the Hearts owner has sought to quash any suggestion that the benefactors are having a say in how the cash is spent.

It’s not just a benefactor, it’s a group of people who have supported us,” she explained. “It’s just amazing and I can’t really explain it.
“At the start [2014] they believed we were doing a really good thing by saving the club.
“It’s all about ethos and values and they’re still supporting that.
“No-one has a say in what goes on here. I chat with them and give them updates every now and then, but it’s purely a philanthropic donation.”

Budge also dismissed any fears regarding an over-reliance on their backing, insisting the club would simply have to cut its cloth accordingly if they did not have those additional funds to call upon.
“Last summer we brought players in because we had their support,” said Budge. “We wouldn’t have done it if we didn’t have the money. They asked if we’d like help with the player budget, which was astonishing.”

Budge has also revealed that Hearts could complete their transition into fan ownership as early as February. The formal handover of power to supporters’ group Foundation of Hearts [FoH] was expected to happen in late Spring of 2020 but the parties are ahead of schedule.
FoH has 7500 paying members and has contributed more than £9m to the club in working capital and to the Tynecastle Development Fund, which included the construction of the new stand. The group already has one representative on the board of Hearts, Stuart Wallace, and will officially purchase a 75.1 per cent controlling stake from Budge next year when FoH repay the £2.5 million she used to buy the club from the jaws of liquidation in 2014.

“We are still well on course,” she said. “Everything could be completed even earlier than that [spring] – possibly in February or March. It will be nice to get to the position where I feel we’ve done what we set out to do, we’re in a really good place and I don’t have to worry about something going badly wrong.”

How does this work, does FFP not come into play with Hearts? I would think they would be keeping a close eye after the Romanov era with dodgy Russian money being laundered through the club.

If it was us they would be calling for our heads!
FFP only applies for teams in Europe.

And it’s not all that different to what we’re doing. If the money is used for certain things (e.g. ground maintenance) then FFP doesn’t apply.
 
She says she doesn’t have to worry about anything going badly wrong. Has she looked at the league table?
 
Mystery backers - aye right.

Money laundering rules must not operate in Edinburgh?
 
Wouldn't have thought Levein would have that sort of cash lying about, keeps him involved i suppose. :rolleyes:
 
FFP only applies for teams in Europe.

And it’s not all that different to what we’re doing. If the money is used for certain things (e.g. ground maintenance) then FFP doesn’t apply.
The financial backers of our club are all known, these people are anonymous. Surely in the interests of sporting integrity the source of this funding should be made available, if not to the public, but to the relevant authorities.
 
The financial backers of our club are all known, these people are anonymous. Surely in the interests of sporting integrity the source of this funding should be made available, if not to the public, but to the relevant authorities.
I mean, to an extent. We know the names but not one of us has a clue who Julian Wolhardt is. We just trust King and the guys to bring in good guys. I’m sure Hearts fans do the same with Budge.

And there’s no evidence of money laundering here whatsoever.
 
Like everything else in this backwater it is the lack of consistency that annoys the tits off of me. I don't have a problem with wealthy fans or sympathetic backers chucking in some money if they have it (and it's legit). However we would be getting roasted for this, even when we routinely point out that the soft loans we've received have been exchanged for shares in the club.

FWIW, without people being there to bankroll the likes of Hearts and the mutton molesters we're going to end up in a league playing the scum 38 times a season. I welcome money coming in to the other clubs but there has to be transparency (or at the least consistency).
 
I mean, to an extent. We know the names but not one of us has a clue who Julian Wolhardt is. We just trust King and the guys to bring in good guys. I’m sure Hearts fans do the same with Budge.

And there’s no evidence of money laundering here whatsoever.
Eh... Hasn't Wolhardt been seen at a game?
Julian Wolhardt is not an alias.
So whilst none of us has been round his gaff for tea and biscuits, to say we don't have a clue who he is might be stretching things.
 
Eh... Hasn't Wolhardt been seen at a game?
Julian Wolhardt is not an alias.
So whilst none of us has been round his gaff for tea and biscuits, to say we don't have a clue who he is might be stretching things.
Sure, my point being we don’t really know anything about the guy, but because King brought him in we trust him.
 
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