Hearts declare a massive £98.8 million rise in turnover.

Heart of Midlothian’s most recent financial statements show a record turnover of £20.8 million, up more than £6 million from the previous year.

The main cause of the 42% increase is participation in the Europa Conference League group stage from the previous season. Over £6 million was donated, with the Foundation of Hearts, a group of supporters, and philanthropist James Anderson making up the majority of the total.

Profit for the year is £298,000, as opposed to £1.75 million a year ago.

Operating costs climbed by £2.4 million and staff costs (football and non-football) by £4.1 million while commercial operations yielded a £2.1 million profit.

The Edinburgh team is worth £24.4 million in net assets.

“Financially, this was an excellent year for the club – with record revenues, reinvested in further developing our playing squads (Men’s A and new Men’s B team as well as Women’s A) and our staff teams, continuing to improve the club’s infrastructure, and enhancing Tynecastle Park,” stated the statement.

Hearts qualified for the Europa Conference League after not playing in European football since the 2016–17 campaign. They defeated RFS of Latvia twice while losing both at home and away to Fiorentina and Istanbul Basaksehir. They were defeated by PAOK in the tournament’s play-off round this term.

“Our devoted fans helped our commercial teams achieve outstanding achievements. A fully booked season ticket allocation and unprecedented revenues in sponsorship, advertising, retail, hospitality, and ticketing were combined with

“The increase in revenue, along with the ongoing support from the Foundation of Hearts and our generous benefactors, allowed us to substantially increase the investment in our playing budget across all teams as well as our backroom support teams and facilities.”