Tynecastle sale confirmed
Tuesday, September 14, 2004
Article summary
The sale of Heart of Midlothian FC's Tynecastle stadium has been approved by club shareholders.
Article body
The sale of Heart of Midlothian FC's Tynecastle stadium has been confirmed after a vote at an extraordinary general meeting.
Debts force sale
With club debts compelling the €30m sale to property firm Cala Management, 62.5 per cent of shareholders voted in favour of the deal, albeit on a 27 per cent turnout. However, Hearts can still pull out of the sale, which many fans have opposed, if a financially viable alternative is found before 31 January 2005.
Takeover discussions
Former chairman Leslie Deans and shareholder Robert McGrail have expressed an interest in acquiring chief executive Chris Robinson's shares, while a Lithuanian consortium headed by Vladimir Romanov have also held discussions with a view to keeping Hearts at Tynecastle
Murrayfield move
The Scottish Premier League club's immediate plan is to move six kilometres across Edinburgh to Murrayfield, the home of Scottish Rugby Union, where they are already scheduled to play Thursday's UEFA Cup first round first-leg fixture with SC Braga as the Tynecastle pitch does not meet UEFA regulations. Hearts, who then aim to raise finance to build a new stadium, have been based at Tynecastle since 1886.
