Ann Budge has transferred shares to the Foundation of Hearts group.
’ chairwoman has officially signed the papers to transfer shares to the Foundation of Hearts group making the Premiership club the biggest fan-owned club in the UK, although the 73-year-old would stay at her position for at least two more years.
"It is an amazing day, particularly for the fans,"
"We've been through a fairly traumatic few years so to actually get to this point, to me says we're in good shape.
"We've achieved everything we've set out to achieve and we've got a lot more we want to do in the future, so it is fantastic.
"On a day-to-day basis, as we've said all the way through this, the club continues to be run by the executive team and the board continues to set the strategy.”
has also declared that the fact that the club will be dependent on the contributions of 8000 supporters who will financially run the club doesn’t mean that they are going to be involved in the decision-making of the important matters of the club.
"There are four issues the fans will always have a say on: we can't sell the shares, we can't move from Tynecastle, we can't change the club colors, we can't change the name without permission of the supporters.
"The whole idea is to protect the club from things going badly wrong in the future."
The chairwoman has taken over in 2014 and has been doing good in her position since then and now claims that she is happy with transferring the power to the fans. The club will play the first game as a fan-owned club against Hibernian at Tynecastle on September 12.
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