Brighton owner Bloom bids for 29% stake in Hearts

Tony Bloom has been the chairman of Brighton since 2009

Brighton & Hove Albion owner Tony Bloom has made a formal offer of just under £10m to take a 29% stake in Heart of Midlothian.

The proposal will be considered by fans' group Foundation of Hearts (FoH) - the major shareholder in the Scottish Premiership club - and must receive more than 50% approval from its members to be successful.

A consultation period will end on 26 May, with the vote taking place after an extraordinary general meeting is held.

Bloom would be purchasing non-voting rights shares, which would not impact the 75.1% voting rights held by FoH.

If successful, Bloom would also be entitled to one place on the board, but is expected to appoint a representative rather than take up the position himself.

FoH is recommending the terms are accepted and should this happen the Scottish FA would then be required to give its approval for the deal to be concluded.

In a statement issued to its members, FoH says the proposed investment is a personal one and Hearts will not become a feeder club for Premier League side Brighton or Belgium's Union Saint-Gilloise - where Bloom is a minority shareholder - or part of a multi-club system.

It also says Bloom believes Hearts can "disrupt Scottish football" and that he wants to be a part of a "glorious chapter" in the Edinburgh club's history.

'Investment coming at right time' - analysis

Bloom's investment has been the topic of conversation for many Hearts supporters ever since his name became linked with the club last year.

If approved - and there is little reason to see why it wouldn't be - the cash will come at just the right time for the club.

With no European football to look forward to next season, the income for 2025/26 will be substantially reduced from that of this current campaign.

And with investment in the squad badly needed after a hugely disappointing term, an additional near £10m will be more than welcomed within the Hearts board.

But as we have witnessed in the past, money does not ultimately lead to success. It's about how it is spent. Value for money should be key to every transaction.

With his talk of disruption, Bloom undoubtedly means challenging the Old Firm dominance. That will not come easily, but he is up for the challenge.