On 25 May 1981, 34-year-old Wallace Mercer became chairman after buying a controlling interest in Hearts for £265,000. Hearts had just been relegated from the top flight for the third time in five seasons. The following December (1981), Mercer promoted Alex MacDonald to be Player-Manager. At the end of the 1982–83 season Hearts were promoted back to the top flight. This marked an upturn in their fortunes to rejoin the more competitive clubs in Scotland's top flight. The 1985–86 season was their best since 1965. The league campaign started with the loss of five of the first eight games. From there the club went on a 27-game unbeaten league run, reaching the top of the league on 21 December after a 1–0 win at St Mirren.