Hearts owner Ann Budge admits Tynecastle redevelopment project is over budget

[ian1964 10,761]

and urges fans to help plug the cash gap through fund-raising campaign.

 

The Jambos chief conceded that 'complexities and challenges' have seen costs for the new stand soar.

 

HEARTS are warning fans they will have to dig deep again after the cost of the club’s new main stand rocketed.

 

Owner Ann Budge has admitted that the Tynecastle redevelopment project is over budget.

 

And she has urged supporters to help plug the cash gap through a fund-raising campaign that includes a piggy bank-style maroon COW in the club shop.

 

However, Budge revealed that the project IS still on course to be completed in time for the first home league game of the new season.

 

Original estimates for the new stand came in at £12million — but the Jambos chief conceded that ‘complexities and challenges’ have seen costs soar.

 

Budge, who also reported current season ticket sales of 10,500, explained: “Every day brings its own challenges on a project of this size and complexity and, not entirely unexpectedly, we have been faced with a number of changes that have resulted in some budget overruns.

 

“However, these are manageable and capable of being met from club funds and, most importantly, will not result in us failing to achieve our very tight timescales.

“Everything is still going to plan.“This major programme of redevelopment is aimed at ensuring we can stay at our Tynecastle home for the foreseeable future.

“The soon-to-be renamed Tynecastle Park will offer first-class facilities to rival any that currently exist in Scotland.”

 

In her address to fans, she added: “When this redevelopment programme was launched, the club confidently predicted that, with the continued backing of the most engaged supporter base in Scottish football, this could be achieved without putting the club into debt.

 

“We were in the fortunate position of having 75 per cent of the funding identified, with the remainder to come from normal club operations, along with additional contributions from our supporters, in response to special fundraising initiatives to be introduced and run by the Club.

 

“The key principle behind our ‘One in a Million’ fundraising programme is to raise £1m of additional funds over a six-month period, when these funds are most needed for completion of the redevelopment while, at all times, offering an immediate or future benefit to our supporters in return.”

 

https://www.thescottishsun.co.uk/sport/football/1113862/hearts-owner-ann-budge-admits-tynecastle-redevelopment-project-is-over-budget-and-urges-fans-to-help-plug-the-cash-gap-through-fund-raising-campaign/?CMP=Spklr-_-Editorial-_-scotsunsport-_-Sport-_-FBLink-_-Statement-_-TWITTER

[26th of foot 6,119]

"Hearts are a model club"!

[Whosthedado 1,703]

"Hearts are a model club"!

 

 

Short memories mate haven't they!! Two words - Vladimir Romanov

[RANGERRAB 3,741]

Estimates for the new stand came in at £12m ? Where did hertz get £12m from ?

[JFK-1 1,693]

Estimates for the new stand came in at £12m ? Where did hertz get £12m from ?

 

I'm presuming they would be making arrangements to pay for it over an extended period of time. But that aside I see no one out there grunting 'tick tock' while they expend this money but when we who are a massively larger club with a much larger income stream spend less than that on players they grunt 'tick tock'

 

Just one reason i'm hoping for a really good season. Turn the grunting from tick tock to sob sob

[the gunslinger 3,366]

Hearts are a model for how our admin should have been handled.

 

If only our admin werent trying to hand us back to whyte but instead doing what was best for the company and creditors.

 

 

[compo 7,216]

Passed Tynecastle last week and their new stand looks good

[Uilleam 5,960]

Wow! A building contract in Edinburgh goes over budget.

I've never heard the likes before.

It makes you think.

 

It makes you think that they should have looked more closely at their consultants and their mode of procurement.

It makes you think that Hertz, ken is not operated by geniuses, or even a genius.

[RANGERRAB 3,741]

Passed Tynecastle last week and their new stand looks good

 

I bet it does. Just a pity for them their best players Walker, Paterson etc, are heading out the door. How will they replace them if they're financially-strapped paying for this new stand?

[Whosthedado 1,703]

I bet it does. Just a pity for them their best players Walker, Paterson etc, are heading out the door. How will they replace them if they're financially-strapped paying for this new stand?

 

exactly and they won't be able to fill it if the team are pish

Edited June 10, 2017 by Whosthedado