American consortium buy majority stake in Kelty Hearts

In a move that has been described as "hugely important" for the club, a group fronted by Jordan Gardner, a former minority shareholder in Swansea City, have taken control at New Central Park.

Under 'The Hearts Football LLC', they have acquired 80 per cent of shares, with the remaining 20 per cent to be owned by Kelty Hearts FC Members Ltd, a company incorporated by the outgoing board of directors.

An American consortium have purchased a majority shareholding in the club. (Image: David Wardle.)

It is understood that dialogue over potential external investment in the Maroon Machine has been ongoing for several months, and an agreement has now been struck.

That will see Gardner, who is described as an "experienced global football executive", and has had previous involvements in European football, become chairman.

He will take over that role from George McTrusty, who was appointed into that position in the summer of 2024.

He previously served as their treasurer, during the club's days in junior football, and director of finance, and will remain on the board of directors.

Stuart Mill, who was appointed as Mr McTrusty's vice-chairman, will also be on the new-look board, alongside incoming directors David Dworkin, Guy Nohra, Terrence Sullivan, Eric Shuffler, Shashi Vaswani, Eujern Lim and Nikhil Dixit.

"This is a hugely important moment for Kelty Hearts Football Club," Mr McTrusty said.

"The agreement secures the club’s future and gives us the platform we need to plan with confidence for the years ahead.

"The investment allows us to strengthen every area of the club, from the first team to our infrastructure, academy and community work, while, crucially, protecting the values and identity that make Kelty Hearts what it is.

The remaining 20 per cent stake in the club will be held by Kelty Hearts FC Members Ltd, a company incorporated by the outgoing board of directors. (Image: David Wardle.)

"Retaining a meaningful local shareholding was essential to us, and this partnership ensures the club remains rooted in the community while benefiting from new ideas, ambition and long-term support."

Gardner, who is from California, and is based between San Francisco and London, launched a secondary ticketing platform during his undergraduate years at UC (University of California) San Diego.

He then began to pursue sports investments, and has previously held minority in EFL (English Football League) Championship Swansea, and Irish side Dundalk, whose board he also joined.

Gardner also had a spell as chairman, chief executive and managing partner of Danish outfit, FC Helsingør, who gained promotion from the country's third tier in 2020.

He has also served as an investment intelligence specialist with London-based football consultancy firm, Twenty First Group, and has carried out work for a variety of global investment groups looking at European football, pre and post acquisition.

"I’m very excited to partner with Kelty Hearts FC Members Ltd to build off the incredible success the club has had over the last 10 years," Gardner said.

"It's refreshing to see a club run in a sustainable and prudent manner, and that’s a credit to the outgoing board of directors, the committee, the volunteers, the staff at the club and the supporters.

"This is a proud community-based club with a passionate fanbase.

The news marks a new chapter in the club's storied past, amidst their battle for survival in League One. (Image: David Wardle)

"I'm delighted to be here and look forward to working together to build a strong and sustainable future."

The development marks another significant milestone for the club, which celebrated its 50th anniversary last year.

In 2017, they were granted senior status by the SFA and left junior football to join the East of Scotland League, in pursuit of SPFL football.

Four years later, after winning the East of Scotland League, they were promoted to Scottish football's fourth tier, winning a play-off final with League Two's bottom side, Brechin City, having won the Lowland League and then seen off Highland League counterparts, Brora Rangers, for the opportunity.

Their first season as an SPFL side saw them win the League Two title and promotion to League One, where they have spent the last three seasons.

This term, though, they face a battle for survival, sitting bottom of the table and nine points adrift of safety, and four behind Cove Rangers, who are ninth and in the relegation play-off spot.

Hamilton Academical, in eighth place and a position of safety, visit New Central Park on Saturday.