Hearts fans have donated £6.5 million to their club through Foundation of Hearts and should assume control at Tynecastle in 2020.
FoH chairman Stuart Wallace confirmed that owner Ann Budge’s 75.1 per cent shareholding will transfer to the fan-led group in three years’ time.
“We have now contributed a staggering £6.52 million to our football club – more than £2.47m of which has been put toward the Tynecastle redevelopment project,” said Wallace.
“We are well on track to achieve our £3m contribution to the Tynecastle redevelopment project by agreed date of June 2018. However, we need the support of all of our pledgers more than ever. Any drop off in members will impact our ability to meet our funding target.
“We are on track, both to meet our contribution to the Tynecastle redevelopment project and also to repay Bidco, taking us to the point of being majority shareholder in mid-2020. There is no room for complacency if we are to become the majority shareholders in our club.”