Ann Budge insists Hearts will have a budget to challenge for Europe next season, despite ongoing costs to finish the new look Tynecastle Park.

Manager Craig Levein revealed this week the £1.5m still needed for refurbishment will impact his playing squad, but Budge said Hearts are in position to improve in an ever-more competitive league.

After two years and £3m, the Foundation of Hearts contribution to Tynecastle's revamp is complete but a significant sum is still required to fit out the structure, and that will limit the manager's ambitions in the transfer market. However, Budge says that will still allow a challenge at the top of the table and hopes of securing a European place.

"It's about balance," Budge told STV. "We're trying to run a business here.

"That business happens to be a football club so you have got to perform on the pitch as well as run a sustainable, profitable business.

"We're trying to do all of these things but it's about taking a long-term view. Craig and I share the same view, which is that you have to take a long-term view of any business.

"Yes, we need to invest in players but we also need to invest in the infrastructure if we're going to be the club we're aiming to be.

"As far as I am concerned, and I hope Craig is, we want to strive to be one of the top three or four clubs in Scotland. We want to be in Europe, we know how important it is.

"At the moment we're funding lots of different things but I am trying to keep the balance right so we are putting enough into the football department to realistically make that challenge."