Hearts to leave Tynecastle home
Monday, December 1, 2003
Article summary
Heart of Midlothian FC are to sell their Tynecastle ground and move to a new stadium by the start of next season.
Article body
Debts increase
The Edinburgh club's debts have risen to €24m in the financial year up to 31 July 2003, and next summer they must pay back €1.1m interest on a loan they took out from media group SGM.
Not enough income
Hearts chief executive Chris Robinson explained the decision, saying: "As part of the strategy to move from loss to profit, we have had to consider the commercial viability of our stadium. Financial analysis of our business highlights that our stadium cannot match the income generation required for a club such as Hearts."
Temporary home
Hearts could move to the Murrayfield stadium, the Edinburgh home of Scottish rugby union, while the club consider ways of financing a new ground, possibly on the outskirts of the Scottish capital. Hearts have been based at Tynecastle since 1886.
