Brighton owner Bloom bids for 29% stake in Hearts

 Brighton owner Tony Bloom has made a formal offer of just under £10m to take a 29% stake in Heart of Midlothian.

The proposal will be considered by fans' group Foundation of Hearts (FoH) who are the major shareholders in the Scottish Premiership club and must receive more than 50% approval from members to be successful.

A consultation period will end on 26 May, with the vote taking place after an extraordinary general meeting is held.

Bloom would be purchasing non-voting rights shares, which would not impact the 75.1% voting rights held by FoH.

If successful, Bloom would also be entitled to one place on the board, but is expected to appoint a representative rather than take up the position himself.

FoH are recommending acceptance of the terms and should this happen the Scottish FA would then be required to give their approval for the deal to be concluded.

In a statement issued to its members, FoH say the proposed investment is a personal one and Hearts will not become a feeder club for Brighton or Union St Gilloise, where Bloom is a minority shareholder, or part of a multi-club system.

It also says Bloom believes Hearts can "disrupt Scottish football" and that he wants to be a part of a "glorious chapter" in the Edinburgh club's history.