Edinburgh clubs keep talking

Hearts are anxious to move away from their Tynecastle home

Hearts chief executive Chris Robinson insists that the proposed groundshare option with Edinburgh rivals Hibernian is too good an opportunity for either club to miss out on.

His opposite number at Hibs, Rod Petrie, remains more cautious but believes the financial argument for a move to a new home is a compelling one.

Both clubs, who are massively in debt, are investigating the possibility of sharing a new stadium at Straiton - on the city outskirts.

Such a move would be financed by the sale of Easter Road and Tynecastle stadiums, both of which are located near the city centre and would be very attractive sites for property developers in the booming Scottish capital.

The combined debts of the clubs has been estimated at around £30m, while analysts have valued the land on which their current homes stand at approximately £50m.

Land gift for Edinburgh rivals

And the identified 40-acre site at Straiton would not cost a penny, since it will be donated free by the land owners if the deal goes ahead.

"It would be doing a disservice to the Edinburgh support if we failed to consider this option," said Robinson.

"Few clubs can find the land values which exist in Edinburgh.

"If we do not realise these assets it will be difficult for either club to eliminate their current debt."

"And when the debt has been cleared it has been cleared, you don't then spend it again."

Hibs chief executive Rod Petrie is weighing up the options

Hearts are anxious for the move to go ahead because the size of the Tynecastle pitch cannot meet future Uefa requirements for European football.

Hibs are under no immediate pressure to move and have spent nearly £14m in recent times building three new stands at Easter Road.

But the lure ot wiping out their substantial debts, may prove too enticing for the team from the east of the city.

"If we can clear all our debts, move to a new stadium and have money in the bank, it is certainly worth considering carefully," Petrie said.

I fully appreciate the great attachment our fans have for Easter Road but I want them to give this proposal fair consideration Rod Petrie Hibs chief executive

"We can therefore focus our efforts on being able to put the best possible team on the pitch.

"I fully appreciate the great attachment our fans have for Easter Road but I want them to give this proposal fair consideration.

"We don't have the same problems as Hearts, so we don't have to move."

Hibs have long been linked with the sale of land which serves car-parking at Easter Road and is reported to be worth some £10m.

However, Petrie pointed out that such a deal would not signal and end to the financial problems facing Hibs.

"The car park doesn't belong to the football club," Petrie continued.

"It belongs to the holding company, and its sale is a deal that is not yet concluded.

Hibs fans share scepticism

"But it is something we can factor into a future at Easter Road."

Many fans are opposed to a move and fears have been expressed about dwindling attendances at an out-of-town venue as well as the prohibitive costs of improving transport links to Straiton.

The recent talks between the rivals has also generated talk of a possible merger but such an idea was dismissed by Petrie.

The idea of a united Edinburgh side was explored by former Hearts chairman Wallace Mercer in the early 1990s, but ran into strong opposition from both sets of fans.

"We all know there is no appetite for this in Edinburgh and it would be disrespectful to the history of both clubs," said Petrie.