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Last Updated: Tuesday, 14 September, 2004, 14:07 GMT 15:07 UK
Tynecastle sale approved
Tynecastle Stadium
Hearts shareholders have voted in favour of selling Tynecastle stadium to property developers Cala Management.

The 20.5m deal was voted on at a stormy meeting on Monday night, with 62.5% in favour of the move.

But 73% of the club's shareholders did not vote. Of the 4,039 shareholders, 153 voted for the resolution and 929 voted against.

Hearts can still pull out of the sale if a financially viable alternative is found before 31 January 2005.

The club's chief executive Chris Robinson's plan to sell Tynecastle to eliminate their debt, which had the backing of the entire board, has caused uproar among much of the Hearts support.

Robinson required police protection at Monday night's extraordinary general meeting as fans vented their fury at the man they hold responsible for their likely departure from Tynecastle.

He insists the stadium is no longer viable and believes its sale is the only way to avoid the club falling into administration.

Critics of the move deny this is the case, but while Robinson's shares are up for sale, no buyer has come forward and so, while he remains at the club, the future of Tynecastle is bleak.

But Save Our Hearts secretary Derek Watson insists the fight will continue to keep the club at their traditional home.

"It's what we expected because Save Our Hearts has not been able to buy the significant stake in the club we had hoped to," said Watson.

"But, looking at the numbers instead of the percentages, they show the vast majority of shareholders were against the move.

"We will continue to push the 'Working Party' and hope we can come up with a resolution in the period between now and 31 January. We have not given up hope."

Former chairman Leslie Deans and shareholder Robert McGrail have expressed interest in acquiring Robinson's shares, while a Lithuanian consortium headed by Vladimir Romanov has held discussions with a view to buying out both Robinson and Deans.

Those parties have indicated a desire to keep the club at Tynecastle.





SEE ALSO
Hearts consider pitch plan
14 Sep 04  |  Heart of Midlothian
Hearts fans vent their fury
13 Sep 04  |  Heart of Midlothian
Hearts talk with McGrail
14 Aug 04  |  Heart of Midlothian
Foulkes plays down fears
03 Aug 04  |  Heart of Midlothian



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