With the managerial slot left empty at Finn Harps since Anthony Gorman's departure, Hegarty looked like the favourite to take the role at Finn Park. On 20 December 2006 Hegarty was named the new boss at Finn Harps after signing a two-year deal with the club.
Since Anthony Gorman left, there had been no one in charge at Finn Harps. However, Hegarty appeared to be the front-runner for the managerial position. On December 20, 2006, Hegarty was appointed as the new manager of Finn Harps after signing a two-year deal with the club.