Well, that's all folks. What a momentous day for Scottish football as the national side make a huge leap to taking over Hampden and ushering in a new era for the national game.

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Reaction from Scottish football fans unsurprisingly is mixed on the back of this afternoon's announcement.

However, one thing that everyone does seem to agree on is redeveloping behind the goals at Hampden Park to bring supporters closer to the pitch. Scottish FA chief executive Ian Maxwell says they will explore that option.

SFA chief executive Ian Maxwell speaks to the press at Hampden about the decision to stay at the stadium.

Image source, SNS

Hampden Park Ltd, the company who run the national stadium, have released the following statement: “We are delighted that Hampden Park will remain the Home of Scottish Football after an extensive bid process led by the Board of the Scottish FA.

“We would like to thank all stakeholders and bodies involved in the bid process, including the Scottish FA, our own staff at Scotland’s National Stadium, Glasgow City Council, Mount Florida Community Council and Keppie Design.

“In addition, we received significant backing from supporters, players and managers past and present, the media, the Glasgow business community and figures from across Scottish society – again we thank them all for their important letters and gestures of support.

“Significant investment is already being committed to prepare the stadium for UEFA EURO 2020 and this decision gives us the opportunity to build on that to ensure Hampden Park is a national stadium which future generations can be proud of.”

And who could forget Zinedine Zidane's volley as Real Madrid defeated Bayern Leverkusen in the 2002 Champions League final?

While in theory the SFA moving away from Hampden would have immediately impacted on Scotland and major domestic cup matches, the reality of the stadium being able to continue to host such events on a wider level would have been in question.

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Hampden has hosted some memorable matches over the years, to name but a few.

In 1976 the European Cup final saw Bayern Munich face St Etienne.

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Former Rangers midfielder Alex Rae gives his verdict.

Thomas McHugh has got in touch on Twitter. Do you agree?

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More than 30,000 of you voted on the BBC Sport website on where you thought the home of Scottish football should be. Here's the results:

Scottish FA President Alan McRae said Scottish rugby made a 'compelling case' to take Scotland games, as well as major cup matches, through to Edinburgh.

He said: “Today’s announcement has been the conclusion of a four-year process to review our national stadium beyond 2020.

“It was a hugely difficult decision and I would like to place on record our thanks to Scottish Rugby for their professionalism throughout the process.

“They made a truly compelling case to move to Edinburgh and gave us a very difficult decision to make. I would like to pay tribute to the inspiration, energy and hard work of Scottish Rugby Chief Executive, Mark Dodson, and his Chief Operating Officer, Dominic McKay – both are true leaders in Scottish sport.”

“This decision is about what was best for Scottish football and our members. It is about the future of football in Scotland."

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Chief executive Ian Maxwell says the SFA's aim is to sell out Hampden on a more regular basis, rather than reduce thee stadium's capacity.

"I would love to see us selling out five matches a year here," he said. "We have to get people back in love with Scottish football.

"The average attendance in European qualifiers is about 40,000. To put 20,000 onto that at Murrayfield would have been a big jump. To get to 50,000 here is not quite as big a jump. That has to be the aim.

"I don't think we have to reduce capacity. We have had a number of games that have sold out and we have to do everything we can to get 50,000 fans along to every game."

Maxwell says there will already be a number of new developments with "a new turn-stile system and LED flood-lights" in time for the matches Hampden will stage at Euro 2020.

"We can now look at the development of the stadium for a longer-term period," he added.

Well, that's it. SFA chief executive Ian Maxwell spent around 20 minutes talking through the key points of the organisation's decision to stay at Hampden. From finance, redevelopments and rival bids all the way to German stadia and donations to make it all happen. What did you think?

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Ian Maxwell admits the decision to stay at Hampden was not a foregone conclusion, admitting it was "very close" between the national stadium and Murrayfield.

"I have sat in board meetings that got heated," he said. "It was very hotly debated. The SRU put forward a very compelling case and they are a very impressive organisation, selling out rugby internationals on a regular basis.

"We can learn a lot about the way Murrayfield thinks about things like that.

"I would like to think we can maintain that relationship with [SRU chief executive] Mark Dodson and [SRU chief operating officer] Dominic McKay in future. They have been excellent throughout the process."

BBC Sport Scotland pundit Michael Stewart agrees...

Ian Maxwell says the SFA are committed to investigating the Stuttgart model, where the German giants brought in the stands behind the goals and closer to the pitch.

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SFA chief executive Ian Maxwell says the governing body have listened to fans' concerns over transport issues around Hampden and the poor view from certain parts of the ground, particularly behind the two goals.

"We agree with them that we need to improve access, transport links and the overall experience," he said. "We are committed to doing that.

“With all the commitments that have been made to the Scottish FA and Hampden Park Limited throughout this process, taking ownership of the Hampden Park site will create the potential to transform the home of Scottish football for the benefit of Scottish football fans.

"Ownership really will change the game. We look forward to working with all interested parties to achieve an exciting and fan-friendly vision for Hampden Park.

“With that in mind, we need all of Scotland to pull together to make it Scotland’s national stadium. We have heard many voice their support for the stadium. We need collective action, driven by the Scottish FA, to ensure it remains the beating heart of Scottish football.”

Ian Maxwell says the contribution of businessman Lord Willie Haughey was a critical part in the decision to stay at Hampden.

"It was vitally important in terms of the deal with Queen's Park," he said. "He is a passionate Glaswegian, he played for Queen's Park, and he has had involvement there with some of his businesses.

"He was keen to see games stay at Hampden and we are very thankful for his input."

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Scottish FA chief executive Ian Maxwell says today "is a big day for Scottish football" as he vowed the governing body wants to "inspire a nation".

"Hampden Park has been the spiritual home of Scottish football for over 100 years," Maxwell said. "It has been central to our sport’s identity in this country. But today’s decision is about the future, not the past.

“Our mission is to inspire a nation to love the game and having a home that we can call our own is an important part of that. It will enable us to drive investment into the game and give us the best chance to improve football in Scotland."