Heart of Midlothian have announced a loss of £2.4m for the year ending 30 June – the first 12 months of Brighton & Hove Albion owner Tony Bloom’s involvement with the Scottish Premiership club.
The accounts show turnover was more than £23m, which is a club record sum for a season not involving European competition, as they missed out on their first Scottish title for 66 years following a final-day defeat by reigning champions Celtic.
Bloom invested £10m to take a 29% non-voting stake in Hearts, who were looking to benefit from his Jamestown Analytics recruitment network.
Hearts indicate an amount of £1.8m was gained on player trading during the period, with £7.8m spent on acquisitions.
In a statement to shareholders, Hearts say they expect a significant improvement in the next set of accounts due to “further momentum” in player trading.
They also say the club are “engaged in positive discussions regarding further investment” to assist with their long-term ambitions.
Hearts’ annual meeting will take place in early December.
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