Hearts report £2.4m annual loss after first full year with Tony Bloom

Hearts have announced a £2.4m loss for the financial year ending 30 June 2026, covering the first full year of Tony Bloom's involvement. BBC Sport reported that turnover exceeded £23m, the club's highest figure for a campaign without European competition.

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The accounts included £1.8m in player-trading gains and £7.8m spent on acquisitions. On the pitch, Hearts' pursuit of a first Scottish league championship in 66 years ended with defeat by Celtic on the final day. Their financial results therefore cover a title challenge undertaken without European income.

The latest figures follow a different revenue mix in the previous accounting period. In its statement accompanying the June 2025 accounts, Hearts reported turnover of £24.4m, up 21%, supported by participation in the Conference League's league phase and commercial activity. That earlier year was the third consecutive period in which turnover had exceeded £20m.

Hearts' 2025 statement also recorded almost £6m in combined donations from benefactors and the Foundation of Hearts. The supporters' organisation contributed £1.49m. Gate-receipt income increased 12% and commercial revenue rose 10%, while staff costs across the business increased 16%. The club linked the higher cost base to investment in players, support staff and its wider football operations, alongside increased National Insurance costs.

Bloom's arrival strengthened the balance sheet at the end of that earlier period. Hearts put his June 2025 equity investment at £9.86m and reported net assets of £27.6m at the year end. The club explicitly distinguished that investment from operating income: because it was an equity transaction, it was not included in the profit-and-loss figures. It should therefore not be treated as revenue earned during the subsequent season.

Looking ahead, BBC Sport reported that Hearts expect a substantial improvement in their next accounts through further player trading. The club also said discussions about additional investment were progressing positively. Those remain expectations and discussions, rather than completed funding commitments. Shareholders are due to meet for the annual meeting in early December.