THINGS have been going pretty well for Hearts over the last few years. Ever since Robbie Neilson returned to the helm of the capital club in the summer of 2020, the intervening period has been marked by steady progress on and off the pitch.
Remember, it wasn’t so long ago that Hearts found themselves in the Championship, controversially demoted after the 2019/20 campaign was curtailed due to the pandemic. A Gorgie homecoming proved too tempting to resist for Neilson, who had just won the league with Dundee United, and he became the first manager to win back-to-back second-tier titles by the end of the season.
A third-place finish – one that was sealed at a canter in the end – followed upon the Jambos’ return to the big time and they continue to go from strength to strength. A first European group stage campaign in almost two decades provided an adventure for supporters (even if Hearts were found a little wanting in some of their continental fixtures) while on the home front, finishing third once again remains a very distinct possibility.
Off the pitch, too, things have been rather rosy of late in Edinburgh’s west end. Officially the largest fan-owned club in the United Kingdom – with fans donating a staggering £14million to the club via the Foundation of Hearts since 2013 – the financial picture could hardly be more stark when compared to the dark days of the tail end of Vladimir Romanov’s reign a decade ago.
Qualification for the Europa Conference League has opened up another welcome revenue stream for Hearts. A place in the Europa League play-offs accompanied last term’s third-place finish, thus guaranteeing the Tynecastle side eight European fixtures, regardless of the result. As it transpired, Neilson’s men were defeated 3-1 on aggregate by FC Zurich of Switzerland and dropped into UEFA’s third-tier continental competition, where the financial rewards were reduced.
Having said that, Hearts still banked a tidy sum from their European endeavours. Between prize money, a share of the TV revenue and a minimum of four home fixtures to look forward to, the capital outfit brought in around £5m in revenue. Once costs are removed, Hearts will be left with a cool £3m – a game-changing sum for just about any club in Scotland.
We are already seeing the benefits. Tynecastle executives have not been shy when it comes to recruiting players for six-figure fees and the scouting department’s work in unearthing gems in new markets, such as Australia, has been impressive. The likes of Cammy Devlin, Kye Rowles and Nathaniel Atkinson have proven to be savvy additions, while Lawrence Shankland – who had fallen out of favour in Belgium and was struggling for form – has been back to his best since pitching up in the capital.
The contingent from Down Under have impressed on the domestic front and one or two caught the eye at the Qatar World Cup too, which will only have driven up their value in the market – something that will prove important for Hearts over the long haul. Getting a player-trading model up and running where seven-figure sales occur with a degree of regularity would separate Hearts from the rest in the Premiership (excluding Glasgow’s big two) and can lay the foundations for long-term success.
Injuries disrupted the first half of this season and the players have had to adapt to the demands of squeezing European fixtures into an already crowded calendar, yet Hearts still find themselves in third. A few additions in the market will strengthen the squad and with a more forgiving schedule in the second half of the season, it would be no surprise to see their form improve. Take Hearts’ points-per-game in the Premiership as a case in point – while they were still in Europe, the figure sat at 1.42. Since their elimination, it has risen to 2.
Neilson’s side have been presented with a massive opportunity, make no mistake about it. The first half of this campaign was always going to be more difficult than the second but they have made it through that tricky period relatively unscathed. Finishing third for the second year running remains the objective and if it is achieved it will be every bit as lucrative as it was last year.
This windfall is the real prize that Hearts are fighting for and it isn’t difficult to see why. The introduction of the Conference League meant that for the first time, Scotland’s third team would be guaranteed eight European games and the millions of pounds that come with it. That remains the case for next season too with third place (or the Scottish Cup winners) entering the Europa League at the play-off round but thereafter, who knows how long this window will remain open? How long will it be before Scotland’s coefficient is chipped away and our third-placed side enters at an earlier stage of qualification where the same safety net doesn’t apply?
Hearts have the chance to bank some serious cash in the coming years, and it all hinges on getting third place sewn up on a regular basis. In theory, it should get easier as time wears on – more European games lead to more money, which leads to more expensive signings, which leads to an improved team.
Remember, the best determining factor in trying to predict where any given team will finish in their league is their wage bill. More often than not, money talks and Hearts find themselves in a somewhat unique position to bring in a fair few quid while their rivals don’t. The capital outfit will never be on an equal financial footing with the Old Firm but there is no reason that they cannot create a healthy financial buffer between themselves and the rest of the Premiership that tightens their grip on third for years to come – and leave their rivals for European qualification with a mountain to climb.
