The Foundation of Hearts (FoH) has announced supporter pledges have raised over £16million for Heart of Midlothian as another impressive milestone has been hit.

The supporters’ group, the club's majority shareholders, has ploughed money into Hearts since Ann Budge led a takeover at Tynecastle Park in 2014 and Hearts is now recognised as the UK’s largest fan-owned club.

The announcement comes ahead of the FoH’s AGM next month, where two new directors with ‘specialist expertise’ in financial legal matters will be elected to the Foundation board.

READ MORE: What next for Foundation of Hearts: Pledge target, board changes, fan opinion

The club itself released the accounts for the 2022/23 season last week, announcing a record £20.8m turnover for the period in question. It was also noted that the Foundation contributed around £1.6m.

Speaking previously to Hearts Standard, FOH chairman Gerry Mallon outlined his long-term vision for the fans’ group.

 “Our ambition is, by the end of next year because it is our 150th anniversary, to go from just shy of 9,000 pledgers to take it to 15,000 pledgers,” he said.

“We want to take the pledges from £1.5million a year to certainly north of £2million. If we can make £2.5million by the end of next year that’s where we want to get to.

“We think there is a huge amount more potential, particularly off the back of the success the club is having, to allow more people to feel like they are an owner. I think we will talk less and less about pledgers and talk more and more about owners.”

Hearts Standard:

To unlock all content including exclusive interviews with Joe Savage and Craig Gordon for as little as £1 for six months, you can subscribe HERE. As a subscriber you will be able to have your say and help shape the content we produce.