Heart of Midlothian FC has become the UK's largest fan-owned club, after chair Ann Budge's majority shareholding was signed over to the Foundation of Hearts.
Around 8,000 supporters who make monthly pledges to the group officially took ownership yesterday afternoon, of shares representing 75.1% of the club's capital for an aggregate cash consideration of £100,000 - at a price of 0.085 pence per share.
Budge, who bought Hearts out of administration for £2.5m in 2014, will stay as chair for at least two more years.
That move followed previous owner Vladimir Romanov's tenure at the club, which culminated in debts of around £30m.
In the past seven years, the Foundation of Hearts have supported the club through pledges from supporters and in excess of £10m has gone to Hearts, with a new main stand also being built during that time.
Chief executive Andrew McKinlay is expected to take control of day-to-day running of the club, while Edinburgh philanthropist James Anderson, who joined the club as a non-executive director in June, is also expected to take a hands-on role.
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