New funding as the final price of stand hits £15m

Hearts owner Ann Budge has revealed that the final cost of Tynecastle Park’s new main stand will reach £15 million, writes Barry Anderson.

Budge told shareholders at yesterday’s annual general meeting that anonymous benefactors have agreed to provide an extra £1.5m to help with the project.

The initial cost to rebuild the stand was to be £12m, a figure revised to £14m earlier this year. Budge confirmed that stadium redevelopment is now expected to total £15m. Benefactors were initially giving £3m towards the cost but will now contribute £4.5m in total by the time work is finished at Tynecastle in summer 2018.

“I thought we were looking at £14m, I’m now telling you I think we are looking at £15m,” Budge explained to shareholders at the 111th Hearts AGM inside the stadium’s Gorgie Suite. Budge predicted that the new stand will earn Hearts around an extra £1m income per year.

Hearts still hope to replace the Tynecastle pitch next summer with a hybrid surface similar to that at Murrayfield. Budge explained that the price for this will be between £850,000 and £1m.

Manager Craig Levein also addressed the AGM and said he expects another six or eight youth academy players to sign professional contracts with the Edinburgh club next summer.

That follows the recent progress of 16-year-olds Harry Cochrane and Anthony Mcdonald into the first team this season.

Levein also insisted Hearts’ recruitment must improve after six out of nine players signed in Janreleased uary this year were during the summer. “We got a real fright in January, when mistakes were made,” said Levein, who was director of football at that time with Ian Cathro head coach.