Hearts report £2.4m operating loss for 2025-26

Heart of Midlothian reported an operating loss of £2.4 million for the financial year ended June 30, 2026, alongside turnover of £23.1 million and £7.8 million in player acquisition costs. The figures are in the club’s annual accounts and reflect a period in which Hearts invested in its squad but had no European competition income. The club said increased spending on player wages and the absence of European income contributed to the loss. It said sponsorship and advertising revenue rose 37 per cent, while retail and hospitality income increased 17 per cent. Staff costs were up 8 per cent from the previous year. Hearts said it expects a significantly improved financial result for 2026-27 as European income returns and player trading progresses. Its accounts report net assets of £20.3 million at June 30. The club also said discussions about further investment were positive, but did not announce a completed investment. The reported operating loss includes £1.8 million in gains from player trading and is stated before depreciation, amortisation and finance costs. Hearts said further player-trading gains from activity completed in July and August 2026 will be reflected in the next...