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SUPPORTERS’ group Foundation of Hearts have begun consulting members over the future as they count down to ownership of the Tynecastle club.
The organisation is keen to ensure they have the right structure in place for when they assume control from Ann Budge’s Bidco takeover vehicle.
A delay in Budge stepping aside was agreed a year ago in a bid to generate £3 million of funding for the club’s new main stand.
However, despite their takeover not now expected until after the original 2019 date, FoH have detailed their ‘governance plans’ as the organisation moves from ‘a time of crisis’ to ‘planning for the future’ and are seeking members’ opinions.
Foundation chairman Stuart Wallace said: “This is an important document for us to share as it sets out our longer-term vision of how we see the club being operated under the Foundation of Hearts’ ownership.
“We are moving from a position of helping in a time of crisis towards planning for the future.
“We are inviting all our members to help us shape the detail of that future and set in place a governance structure which will allow our club to continue to flourish once the planned transfer of ownership from Bidco is complete.”
VISION
Amongst the proposals are the continuation of monthly financial contributions from members to provide extra funding for the club, the nomination of two Hearts board members by FoH, and plans for ‘reserved matters’ that will have to be decided by shareholders rather than the club’s board.
In addition, it is proposed that any future transfer of FoH’s shareholding in the club will have to be passed by a ‘super-majority’ of over 90 per cent of members.
Wallace added: “It is important that we take this to set out our governance vision in anticipation of the new phase in the club’s ownership history unfolding.
“The supporters have played a massive role in helping to rescue the club from administration, and it is right that these supporters now have the opportunity to provide their views on how the club and the Foundation should work together in the future.”
The consultation period will run until August 31 and the document can be viewed at www.foundationofhearts.org/governance/.
