Millionaire businesswoman Ann Budge has completed her proposed takeover of Scottish Championship club Hearts.

Budge, who has fronted the £2.5m for company Bidco, has reached an agreement with the club's largest creditors Ukio Bankas to sell their shares.

Budge is expected to head to Tynecastle on Monday to discuss the club's future with the players and staff as they look ahead to life in the second tier of Scottish football following relegation.

According to BBC Sport, within five years ownership of the club will be transferred over to supporters group the Foundation of Hearts, who tweeted: "Four historic words for all Hearts supporters - 'deal done, thank you'."

Budge, 66, will act as executive chairman on a 'no-fee basis'.