As clubs in Scotland generate outside interest, Ibrox fans can’t understand why it’s not them.

Yesterday’s news that Tony Bloom, owner of Brighton, might take a £10 million stake in Hearts has been met with wild speculation.

Many misunderstand the implications of this.

Bloom isn’t a billionaire swooping in to bankroll the club with bottomless funds; he’s considering a minority stake to reform Hearts’ operational structure, focusing on sustainable growth through data and scouting. He isn’t arriving with a “sugar daddy” promise of blank cheques but with an intent to build a club model capable of self-reliance.

On the Ibrox fan forums, people are predictably demanding to know why their club isn’t attracting similar interest. The answer is staring them in the face.

Bloom is a man with a clear plan and a proven approach. He’s not looking for a vanity project; he wants a club where he can apply his data-driven strategy and, in time, make a profit. His model at Brighton has involved meticulous investment in areas like scouting and analytics, ultimately creating value by selling well-developed players.

That plan works at Brighton because he’s sunk over £400 million into the club, which simply isn’t feasible at Hearts. Still, if he manages to set up similar infrastructure at Tynecastle, Hearts may see gradual improvements in a way that doesn’t require lavish spending.

This development comes alongside the news of another wealthy figure interested in buying Dundee United.

But, like Bloom, this investor’s plan is not about pumping unlimited funds into the squad.

Again, Ibrox fans are asking, “Why not us?” and, once more, the answer is plain: Scottish football isn’t a cash cow. A real transformation requires a long-term vision, not just splashing cash on big-name signings.

In contrast, Ibrox fans would expect an investor to pour wealth directly into the squad, with no patience for anything less.

The reality here is that these prospective owners, like those interested in Hearts and Dundee United, understand that any viable plan for a Scottish club hinges on shrewd management. They know that success will only come with a substantial rethink of the way clubs are run, focusing on data, analytics, and youth development. This is the sensible path to progress, but it’s also a limited one.

Even with the best tools, unless serious money is invested in players, it’s unlikely any Scottish club can truly bridge the gap with Celtic.

This interest from outside investors follows a recent rule change by the Scottish Football Association, which now allows individuals with stakes in other clubs to invest here. I’ve argued from the start that relaxing these restrictions was a mistake.

Although Hearts, Dundee United, and others might cheer the decision, thinking it’s their ticket to progress, there’s a significant risk involved. With outside money coming into Scottish football, the danger isn’t just of clubs becoming compromised by foreign influence but also of them being financially mismanaged by people who have no real stake in their success. We needlessly eliminated one of the few guardrails against that sort of thing which had held. I genuinely think we’ll live to regret that.

Still, so far, the people eyeing these clubs seem responsible enough, with grounded expectations about the business side of football and intentions that appear genuine. They’re aiming to channel funds into areas that improve club infrastructure without straying into the realm of financial doping. Investments in scouting, analytics, and youth development could eventually bring some long-term improvement to the clubs involved and, in the best cases, give Celtic some meaningful competition. But the door is now open for bad actors with shady motives, and that’s where the SFA’s role—or lack thereof—could prove disastrous.

As it stands, our governing bodies have little concern for these potential pitfalls, and their oversight leaves much to be desired. These aren’t organizations known for their proactive stances or rigorous safeguarding of the sport. I’ve accused them of being governing bodies with no interest in governing. They’ll likely ignore red flags until it’s too late.

Still, it’ll be intriguing to see if Hearts and Dundee United can manage to carve out a more competitive niche under these new owners. It’s an interesting experiment in applying data-driven decision-making to improve Scottish clubs—but in spite of a lot of hysterical headlines, it won’t deliver a seismic shift. Only significant investment in players could do that, and even then, the returns are far from guaranteed.

Over at Ibrox, they look on with envy, assuming that such investor interest should naturally be theirs. This sense of entitlement and arrogance fuels their delusion that their club is the “obvious choice” for outside investment.

But any investor who looks at their model compared to, say, Celtic’s, would see glaring issues. Celtic operates as a stable, well-oiled machine with elite management, top players, and prudent spending. We reinvest wisely because we’re well-run and can afford to, while the Ibrox club remains mired in dysfunction.

Investors have undoubtedly assessed both clubs and, time and again, our solid foundation speaks for itself. The Ibrox club, meanwhile, is bogged down by internal problems, it is financially unstable, and the fans demands constant spending just to keep pace with Celtic.

That’s not a model any astute investor would touch.

Even if an ambitious investor did step in at Ibrox, UEFA’s financial sustainability rules would quickly curb any drastic spending. Clubs cannot spend more than they earn, and the harsh truth that Ibrox fans refuse to accept is that we earn more.

The idea of someone swooping in to transform the landscape is a pipe dream because UEFA regulations will stop it.

That’s why I laugh at stories today about the “Scottish whiskey magnate” coming on board … have the people pushing this even listened to what he had to say?

Has he promised investment? No.

Has he said that it’s imminent? No.

He has said he would invest “under the right conditions.” He would want a minority stake, but a real say in running things.

And he does not seek to be the “principal investor.”

You know what that means?

It means that he isn’t going to pump any of his own millions into funding signings or wages.

And all this presupposes he even bothers in the first place.

Most important, he would want a shareholding. So that either means the dillution – again – of existing shares or buying someone else’s.

It’s pie in the sky. I may have to tackle it in a separate article later, but it’s enough for now to say it’s not on the cards.

The hard truth is that their fans demand the impossible.

They want someone to throw money down the black hole, propping up a club whose main ambition is to beat Celtic, no matter the cost. But the well-run, sustainable model Celtic exemplifies is the only one that will succeed in the long run, especially within the financial boundaries UEFA enforces.

Investors will continue to show interest in clubs like Hearts and Dundee United because they’re adaptable and receptive to a business model that prioritizes growth through careful planning, not reckless spending.

This is the blind spot in all the media “analysis” which wonders why they aren’t looking at Ibrox. It’s also where some of them misunderstand what these investments mean; a lot of hacks are getting carried away as if this was akin to the takeover of Manchester City.

Meanwhile, at Ibrox, the mentality remains one of entitlement and arrogance, which only serves to drive potential investors away. Investors aren’t looking to waste their resources placating an unappeasable fan base or bankrolling unrealistic expectations.

They want clubs that can function and profit independently, and that’s not something Ibrox can offer.

In the end, as long as the Ibrox club’s strategy is predicated on chasing Celtic with untenable financial gambles, and their fans’ demands are rooted in fantasies, they’ll remain an unattractive option for serious investors.

It’s a reality they might struggle to accept, but until they face it, the club will keep churning through resources with little to show for it.

The gap will not only persist, it will grow, and while Celtic builds on success with smart management, the Ibrox club will continue to be a cautionary tale of ambition untethered from reality.

For those clubs on the brink of these investments, they should welcome them if they result in genuine long-term upgrades. Short term thinking and the desire to see the money squandered on signings is the very last thing we need.

They should look to Inverness for what the results of that kind of crazy behaviour might be.