Tynecastle main stand £3m over budget
Ann Budge told shareholders the final cost of the new main stand will be £3million over budget at £15m (pic: SNS Group)
The cost of the redevelopment of Tynecastle is likely to be £15million, £3m more than the original estimate.
Owner Ann Budge revealed the revised figure to a packed annual meeting of shareholders.
“I thought we were looking at £14m, I’m now telling you I think we are looking at £15m,” she said.
The construction of the new main stand will not be complete until next year, although Mrs Budge indicated the new facility would generate an additional £1m per year for the club once it was fully functional.
Anonymous benefactors have pledged a further £1.5m. towards the costs of those works, having already put £3m into the project.
Naming rights for the new stand also came under discussion and while Mrs Budge refused to rule out such a scenario, she said it would take ‘a lot of money’ for a proposal to be seriously considered.
The club is also planning yet another resurfacing of the pitch after two recent replacements, this time with a hybrid surface similar to that used at BT Murrayfield.
The cost, according to Mrs Budge, could be as much as £1m.
Director of Football Craig Levein, who replaced Ian Cathro as manager early in the season, was also in attendance and took questions from the floor.
He conceded that the recruitment policy had to improve, saying: “I think the recruitment was better in the summer than it was in January.
“We got a real fright in January, when mistakes were made. We are trying to limit mistakes but I don’t think we’ll ever get to a point where we don’t make any.”
The 111th AGM was attended by around 400 shareholders.