Ann Budge was instrumental in rescuing Hearts from administration Ann Budge will step down as Heart of Midlothian chairperson at the Scottish Premiership club's annual meeting in December, the Scottish Premiership club has announced. The 77-year-old Edinburgh-born entrepreneur took over the reigns at Tynecastle in 2013, when she was successful in buying the majority shareholding from administrators after Hearts suffered huge debts left behind by former owner Vladimir Romanov. Foundation of Hearts chairman Gerry Mallon says Budge will forever be remembered for her role, along with the fans group, in "saving the club from the abyss". Hearts say "the search for a new chair is now under way". Following last week's announcement of a near £10m investment in the club from Brighton & Hove Albion owner Tony Bloom, Budge believes she has "done what I set out to achieve". In a club statement, she added: "This is something I have thought long and hard about. Having discussed this with the board, I feel now is the right time to confirm that I intend to step down later this year. "When I first got involved with the Foundation of Hearts in 2013, I could not have envisaged the journey it would take me on. "Initially, the aim was to stabilize the club before even thinking of growth. Now, 12 years later, as I look at where the club stands, I can allow myself to feel a sense of pride at what we have achieved." Expressing his "gratitude", Hearts chief executive Andrew McKinlay said: "It cannot be overstated just how much Ann has done for Heart of Midlothian." Meanwhile, Mallon said: "Ann will leave a remarkable legacy when she departs the club and we are extremely fortunate to have had 12 years of her knowledge and experience at the helm of Hearts. "In particular, her participation during the birth of the Foundation of Hearts can never be downplayed. Neither can the instrumental role she played in saving the club from the abyss and taking it back up to the top end of Scottish football." Hearts missed out on a top-six finish in the Premiership last season, finishing seventh, and have since appointed Derek McInnes, previously of top-flight rivals Kilmarnock, as their new head coach. Along with the supporters group, The Foundation of Hearts, Budge brought financial stability to the club. And, although relegation came in season 2019-20, when the campaign was cut short due to the Covid pandemic, the fans continued to back Hearts with the "sold out" signs a regular feature around Tynecastle. Off the pitch, Hearts can now boast a hotel within the grounds of the stadium, with Budge being a major influence in attracting wealthy philanthropists to invest in the club. Most recently, the 77-year-old played a pivotal role in securing the near £10m investment in Hearts from the Brighton & Hove Albion owner Tony Bloom, who in return received a 29% shareholding in the Tynecastle club.
Hearts 'saviour' Budge to step down as chair in December
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"Ann Budge to Resign as Chair of Heart of Midlothian in December"
Bbc News
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TruthLens AI Summary
Ann Budge has announced her decision to step down as chairperson of Heart of Midlothian, effective during the club's annual meeting in December. At 77 years old, Budge has been a pivotal figure in the club's recovery since 2013 when she took control after Hearts faced severe financial difficulties under former owner Vladimir Romanov. Her leadership has been credited with stabilizing the club, which was on the brink of administration. Under her guidance, along with the support of the Foundation of Hearts, the team has seen a remarkable transformation that has allowed them to return to a competitive position in Scottish football. Budge expressed pride in the progress made over the years, noting the significant investments that have come into the club, including a recent nearly £10 million investment from Tony Bloom, the owner of Brighton & Hove Albion.
Budge's tenure has been marked by significant achievements, including the establishment of a hotel at the stadium and a strong financial base for the club. Her contributions have been recognized by various stakeholders, including Hearts' chief executive Andrew McKinlay and the Foundation of Hearts chairman Gerry Mallon, both of whom praised her for her unwavering commitment and the legacy she will leave behind. Despite challenges such as relegation during the 2019-20 season, Budge's leadership helped maintain strong support from fans, which has been essential for the club's ongoing stability. The search for her successor is currently underway, indicating a pivotal moment for the club as it prepares to transition into a new era without her influential presence at the helm.
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