Hearts Staying At Tynecastle
3 December 2015, 15:34 | Updated: 3 December 2015, 15:35
Hearts owner Ann Budge has announced that the club will be staying at Tynecastle.
Budge had previously expressed her desire to keep the club in their popular home but the obstacle was the need to redevelop the antique main stand.
However, Budge told the club's annual general meeting that plans to do just that were at an advanced stage.
The previous owners had unveiled ambitious plans to redevelop the stand in 2007 but they never came to fruition amid difficulties with neighbouring sites and the club's unravelling financial problems.
Quoted on the Hearts official website, Budge said: "In case anyone is still in doubt, the board has decided that Hearts' future is here at Tynecastle. I am very confident that by this time next year we will be well down the road in terms of developing our new main stand.
"The first step in making this possible is, of course, to enlarge our footprint. We need more space.
"We are well on the way to securing the land that will make that possible - some land has already been purchased - the remainder is in the final stages of discussion.
"We have outline plans; design/building schedules; we have the backing of all of the key players. Our objective is to put the Tynecastle area well and truly back on the map... as an area of which all of Edinburgh can be proud.
"We will not be releasing any details until I am 100 per cent sure all hurdles have been cleared but I expect to be able to unveil our plans within a couple of months.''
Budge said they were "well ahead'' in the implementation of their five-year plan for the club having increased turnover by £2million to just over £7million.
"Having lost £994,000 previously, our losses are down to £415,000 in the past year and we are well on the way to breaking even or better this season, again, ahead of our schedule,'' she added.