Hearts and Partick Thistle are "disappointed and surprised" that their relegations have been upheld, leaving them in the Scottish Championship and League One respectively this season.

The clubs took legal action after being demoted when last term ended early.

They wanted the Court of Session to reverse the promotions of Dundee United, Raith Rovers and Cove Rangers and keep them up instead.

But a three-strong panel ruled that the SPFL were entitled to act as they did.

Hearts and Thistle also wanted up to £10m in compensation, but could now face paying costs, with arbitration continuing for "submissions about expenses".

The two clubs said all parties had been asked not to comment on the outcome or reveal details of the hearings. However, they said they "don't regret taking this action as it was the right thing for us to do".

In a later statement, chairman Ann Budge said Hearts "cannot say we are totally surprised at the outcome" and will "suffer serious financial losses". However, she insisted the club "will survive".

"What has been allowed to happen, where fellow member clubs and our governing bodies have stood back and allowed totally disproportionate financial damage to be imposed on three of its members, can only be described as shameful," Budge added.

"I am sorry we did not win this battle but as we all know, it is winning the war that counts."

Thistle counterpart Jacqui Low said her club's "sole focus and energy" was on "success not survival".

"I ask everyone associated with Thistle to never forget today. To never forget how it feels to be relegated unfairly," she added.

"To never forget that there are many good decent people and clubs who stood with us, publicly and privately - but there are some whose fear and self-interest got in the way of doing the right thing.

"We have every right to be angry. So let's use that anger as the fuel that drives our campaign in 2020/21. This is now about Thistle, no one else. Our fate and our success once again lies in our own hands and our hands only."
How did the SPFL react?

SPFL chief executive Neil Doncaster welcomed the "clear, comprehensive and unanimous decision".

He added: "I am absolutely delighted that our approach has been vindicated throughout, following an intense period of legal scrutiny and review.

"It has been a very demanding process, but I had complete confidence in the actions and decisions of the SPFL board and the SPFL executive team."

SPFL chairman Murdoch MacLennan confirmed that three members of the organisation's executive team were interviewed by the panel and thousands of pages of evidence were considered.

"I would fully expect all those involved to agree that no stone was left unturned, no allegation left unanswered," he said, adding that he has sympathy for Hearts, Thistle, and Stranraer, who were also relegated but chose not to take legal action.
What about United, Raith & Cove?

The three clubs released similar statements in which they welcomed the decision and explained they got involved as they were "not prepared to stand by and watch" their promotions be reversed.

They said they had "absolutely no desire to enter into costly legal proceedings" but felt that they had to.

"Any suggestion that we entered proceedings without justification or to stoke division is both unjustified and insulting," the clubs added.
How did we reach this point?

Hearts, Thistle and Stranraer were relegated on a points-per-game basis when the season was curtailed earlier this year.

That decision was taken after a controversial vote of all 42 clubs granted the SPFL board the power to do so.

After attempts at reconstruction the leagues, Hearts and Thistle filed a petition at the Court of Session, seeking either a reversal of the decision of compensation.

After a initial hearing earlier this month, Lord Clark decreed that an independent tribunal should hear the case under Scottish FA rules.

That started a week and a half ago, with both sides selecting a QC from an approved list, and agreeing on a chair.

That panel has deliberated over the evidence and delivered its conclusion - less than a week before the Premiership season is scheduled to start on 1 August.