Heart of Midlothian Owner Ann Budgegetty images
Scottish Premiership side Heart of Midlothian Owner Ann Budge revealed that turnover is "close to reaching" £14M ($17.8M) for the current financial year, an increase of nearly £7.5M ($9.6M) from when she first took over in '14 and a rise from the £12.1M posted in the most recent set of accounts," according to Darren Johnstone of the HERALD SCOTLAND. The £20M ($25.5M) redevelopment of Tynecastle, including the building of a new main stand to take the capacity to more than 20,000, "has allowed the Gorgie outfit" to grow its revenue streams. After plunging into administration in '13 as former Owner Vladimir Romanov's "destructive reign came to an end," Budge said that the club is "now in rude health." She said, "We are not targeting modest growth this year, we are targeting aggressive growth. We are now in a position where we can see a genuine return on our investment. We are controlling our overheads, our staff costs will rise because as we open more suites and expand our hospitality, that will require staff. ... Since I came in we have budgeted every year to make a small profit -- and we have achieved that. As a sign of how far we have come in the last few years, turnover was £6.5 million when I took over and this year we are looking to do not much shy of £14 million. We are in a very good place" (HERALD SCOTLAND, 1/5).
