Senior female football executives used to be something of a rarity. These days they are no longer such a novelty but not all of them are prepared to do the job without taking a salary or take a gamble by coming out of retirement to save their local club.

It’s a fact that every year since Budge took over, the club have either broken-even or made a profit by prudent cost control and responsible investment. “The previous owners had outsourced an awful lot so, as an example, we brought our catering and hospitality back in house and provided a far better package,” Budge explained. “Likewise with our retail operation.”

And there were other factors to take into consideration. “Our reputation had suffered dramatically. No-one had wanted to do business with us. It took some time to demonstrate what we were doing as the new regime and how we were doing it.

“Luckily, businesses got on board and don’t forget, the supporters were ploughing money in. Every month since I’ve been involved I’ve had a cheque for £120,000. It’s important, given what they’ve been through, for the fans to see how the money is now being spent.”

Given the need to cut costs, how did Budge manage to get Hearts to where they are now, pushing for a European place in the SPL and at one point earlier this season even top of the table?

“You probably have to go back to when I took over,” she explained.  “We knew, having gone into administration, that we were relegated for the following season. But the fact we were in the Championship meant we could cut our cloth accordingly.”

The wage bill may have been smaller but attendances and hospitality went through the roof amid a rediscovered mood of optimism that the club was in safe hands. Suddenly Hearts were no longer punching above their weight and quickly climbed back into the Scottish Premier League, with their image and reputation enhanced.  If Budge has her way, that’s where they’ll stay. Under her stewardship, turnover has increased year on year. So has stability.

“I was new to football so I brought in a management team I had worked with before, like my sales and production directors,” she explained. “They too didn’t have football knowledge but they didn’t need to any more than I did. What they did have was business experience and this was a business in trouble.”

On the football side, Budge appointed Craig Levein as director of football whose brief was to advise her on the areas the club needed to invest on the field while she would look after the business.  By and large, the partnership has worked well but that doesn’t mean there haven’t been huge commercial challenges. It’s the same for nearly all clubs north of the border bar a handful.

“Scotland, per head of population, has the highest attendance base of any country in Europe,” said Budge. “But while there is this passion for football, we need to get more people to come to the stadiums. I’m talking generally here.

“It’s a big challenge because there are so many other activities for football to compete with. When I look at highlights on television of some other leagues, I see full grounds. But with the exception of two or three clubs in Scotland, there are loads of empty seats up here.”

The reason? Too many clubs to go round. “In Scotland there are 42 professional clubs for a population of 5 million. Most of them of not very big and survive on the goodwill of their supporters. They have very few staff and their objective year-on-year is survival. I fear for some of them. It must be incredibly hard. We need to somehow find a way of addressing this because too many are struggling.”

Hearts may be among the best-supported clubs in Scotland but even for them, it’s a constant battle to enhance the brand. “We are structured such that we do a massive amount in the community,” Budge points out.

“But even for us, there is only a limit to what we can do, there isn’t much a capacity for growth. I think a 20,000-capacity ground is about right. Some supporters may not agree but if we could go to 30,000, I’m not sure we could fill it.

“The key driver for the business is not match days. I need to be generating revenue for 365 days a year. Of course match days should be as family-friendly and entertaining as they can be but equally important are your other facilities. We are in the process, for instance, of building up a conference and banqueting business at Tynecastle.”

All of which is crucial to the well-being of a club that is clearly on the up. Budge makes the further point that the money coming in is still, ostensibly, part of the deal for her to get her original investment back. At the current level, she will have got her money back by the spring of 2020. She then plans to transfer 75.1% of the club to Foundation of Hearts, making the Jam Tarts one of the biggest-fan owned clubs in the UK.

But if you think Budge plans to take a step back then, think again. “Fan ownership does not mean fan management, just as being a shareholder of a company doesn’t mean you run it. It’s an important distinction. I aim to stay on for as long as I’m fit and healthy – and, crucially, as long as I feel I can actually add value. Maybe I’ll become more of a chairman than a CEO. Right now, I like being a CEO.”

On the field, the goal is to play every year in Europe, in either of UEFA’s two – soon to be three – club competitions. The Europa League may be frowned upon by the cash-rich big clubs south of the border but in Scotland it can be a vital lifeline though, of course, the Champions League is still the Holy Grail.

“It’s the best way, football-wise, to increase revenue,” she says. “We have to be regular players in European competition. That’s where the money becomes significant. Why are Celtic so strong up here? It’s because of Europe. All of us are fighting for European spots. It makes a big difference.”

I couldn’t let Budge go without addressing the subject of women in executive positions, given she has more in senior management than men. She insists she doesn’t go in for discrimination – in this case against male employees. It’s simply that in her world qualified women should get an equal opportunity.

“I have always recruited the best people for the job regardless of gender. When I came into football, I adopted the same philosophy.

“Do some people frown on this? Well let me tell you a story. One of my female colleagues and I went to visit quite a small club when we were in the Championship. When we got there, one of their directors basically asked her what on earth she was doing there and shouldn’t she be off shopping! 

“I’m too long in the tooth to get too hung about it. But what I will say is that I like to build a team who respect one another, regardless of gender.”

Before we part, Budge takes me right back to the start. “My daughter is the reason I’m here. All my family, would you believe, are massive Hibs fans but I married a Hearts fanatic. The marriage didn’t work out but when she was about seven or eight, my daughter started to go to Hearts with her father and fell in love with football whereas I was in my 40s before I even set foot in Tynecastle!”

Nowadays, of course, Budge goes to virtually every game but she doesn’t sit with her daughter. “She’s a season ticket holder but won’t come into the boardroom. She tells me she’s a real supporter! But seriously, if it wasn’t for her, I wouldn’t be where I am now. She’s totally responsible.”

Words: Andrew Warshaw

Images: PA Images