Honorary role for Budge as Hearts reveal new chair

Budge played a leading role in bringing Hearts out of administration in 2014

Ann Budge will take on the title of honorary president when she steps down as chairperson at Heart of Midlothian in December.

And the Edinburgh club has revealed that the 77-year-old entrepreneur is to be replaced by Calum Paterson on a non-executive basis, pending ratification by shareholders.

Budge took over the reigns at Tynecastle in 2014, when she was successful in buying the majority shareholding from administrators after Hearts suffered huge debts left behind by former owner Vladimir Romanov.

A new main stand was completed in 2017 and recently she played a pivotal role in securing a near £10m investment from the Brighton & Hove Albion owner Tony Bloom, who in return received a 29% shareholding.

Hearts currently top the Scottish Premiership, with a six-point lead after 10 matches.

"I thank the board for this touching recognition," said Budge. "I am proud of what we have managed to achieve over the past 11 years and although the time is right for me to take a step back, I am excited, as a Hearts supporter, to see what the future holds."

Paterson is a co-founder of Scottish Equity Partners and currently holds the position of chairman at the company.

He said: "It is a great honour for me to be asked to take on the role of chairman and to succeed Ann Budge who, through her exceptional dedication, commitment and leadership, has made an incredible contribution to the club's illustrious history.

"I look forward to doing everything I can to ensuring the club maintains and strengthens its commitment to the highest possible standards in everything it does."