Hearts today confirmed that Tony Bloom鈥檚 拢9.86m investment deal is now complete, with the gambling entrepreneur adding his long-term associate James Franks to the board at Tynecastle Park. Bloom鈥檚 agreement was formally approved by Hearts shareholders at an EGM last week and he has chosen to place Franks in amongst the club鈥檚 hierarchy as a non-executive director. The multi-millionaire Brighton and Hove Albion chairman receives a 29 per cent stake in the Edinburgh club, although his shares are non-voting so as not to compromise Foundation of Hearts鈥 75.1 per cent voting rights on behalf of fans. Bloom also helped introduce the sports data firm, Jamestown Analytics, to Tynecastle officials last year and they have since become Hearts鈥 recruitment partner. Bloom spoke for the first time on why he identified Hearts as a club to get involved with. The Edinburgh News first revealed his investment plan last September, and months of talks have now come to fruition. Bloom is the majority shareholder at English Premier League side Brighton and also holds minority stakes in the Belgian outfit Union Saint-Gilloise and Australian club Melbourne Victory. He believes there is genuine potential for growth in Gorgie and is keen to see Hearts mount a long-term challenge to Celtic and Rangers. 鈥淚 am absolutely thrilled to be investing in Hearts,鈥 he told the club鈥檚 official website. 鈥淚 firmly believe in the club鈥檚 ability to disrupt the pattern of domination of Scottish football which has been in place for far too long. This great club has a bright future and I look forward to seeing that unfold in the months and years ahead. The appointment of James as my representative on the board underlines the importance I attach to my investment in the club. James has been a trusted associate of mine for many years and I believe that his wealth of experience in the football industry and strong business acumen will be a tremendous asset to the board and to the club.鈥 Franks admitted he is now a proud Jambo: 鈥淚 am honoured to become a board member at Hearts,鈥 he said. 鈥淔rom my first visit to Tynecastle in March 2024 as the initial step in the investment process, it was obvious to me just how special the club is. All of my subsequent visits and my interactions with the management team at the club and with the Foundation of Hearts have strengthened that feeling and I鈥檓 proud now to call myself a Jambo. I welcome the opportunity to play my part in an exciting new chapter in the history of this wonderful club.鈥 A statement issued by Hearts read: 鈥淗eart of Midlothian is delighted to confirm that the process for Tony Bloom鈥檚 investment in the club is now complete. Tony has invested 拢9.86m into Hearts for which he has received a 29 per cent stake in the club in non-voting shares. 鈥淭he club would like to formally welcome Tony to the Hearts family and looks forward to working with him in forging a long and successful relationship. As part of his investment, Tony is entitled to nominate a person of his choosing onto the board of Directors. The club can now confirm that James Franks will join the board as a non-executive director. 鈥淛ames has been a legal and strategic business consultant to Tony Bloom for nearly two decades and has a deep knowledge of football governance. He played an integral role in Tony鈥檚 investment in Hearts, as well as the investments in Royale Union Saint-Gilloise in Belgium and Melbourne Victory in Australia, serving as a business adviser on the deals and leading the process to take each deal through to completion.鈥 Hearts chief executive Andrew McKinlay is anticipating an exciting future with Bloom and Franks in situ: 鈥淚t is with great pleasure that I can now, on behalf of everyone at Heart of Midlothian, officially welcome both Tony and James to the club. Today鈥檚 announcement is the culmination of our fans鈥 belief and support, and I thank them for their backing. When Tony鈥檚 investment proposal became public in May, it captured the imaginations of our supporters, as demonstrated by Foundation of Hearts members voting 98.5 per cent in favour of it. 鈥淎 tremendous amount of hard work has gone on behind the scenes to turn a proposal into a reality and I鈥檇 like to thank everyone involved for delivering what is a hugely significant moment in this club鈥檚 history. Again, I speak on behalf of everyone at Hearts when I say we are eagerly anticipating working with Tony and James as we embark on this journey together.鈥 READ MORE: Zander Clark gets Hearts No.1 chance