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Tick tock, time running out on Hearts

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Vladimir Romanov Hearts newsThe financial collapse of Hearts moved closer today with parent company UBIG being declared insolvent.

UBIG and their sister company Ukio Bankas own 79% of the shares in Hearts with the Edinburgh club awaiting developments from Lithuania.

With Tynecastle occupying prime development land in Edinburgh it’s likely that the ground will be sold off as the liquidators attempt to realise what they can from the assets of the club to pay off creditors.

It’s highly unlikely that any of the groups that have expressed an interest in the club could meet the asking price leaving the club at the mercy of speculators and property developers.

Should Hearts go into administration before Sunday they will be deducted 17 points and be relegated to the First Division.

If they go into administration next week any penalty will apply next season but the SPL are believed to be taking legal advise on the issue.

The other scenario is that the club goes into liquidation placing the Scottish football authorities in the same situation as they had last summer as they attempted to place newco in as high a league as possible.

Following last season’s precedent the liquidation of Hearts would provide Morton with an SPL place but that would almost certainly be challenged by Dundee who ‘benefitted’ from the liquidation of Rangers last year.

With the five way agreement still kept under lock and key it looks like Stewart Regan and cronies could be about to relive the Armageddon summer of 2012 all over again.

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0 comments

  • Scott Mackenzie says:

    hahahaha ahem, i mean that’s a shame. at least they might see their old chums at some point down there.

  • Monti says:

    Flats Flats glorious flats hahaha

  • Sweeney Hughes says:

    If you can pick up the Hunnery (Europes premier staduim©FF), Murky park, the albion ground and a 100 odd years of history and second hand silverwear for five and a half mill……………………cough……

  • corrib04 says:

    Losing one set of buns is sloppy, losing two is downright negligence.

    Tin hat on but I hope they dont go into administration. Id rather have them in the SPL. They have a nasty element in their support but generally are an asset to our league imo.

    • Sweeney Hughes says:

      I hate hertz, but they’re a million miles from dignity fc.
      Think about their songs about oor Tommy, Big Jock, Broonies sis, the Famine song……etc.
      Aye they’re huns, but they don’t seem so, well, down right nasty low-life about it.
      I’m sure they hate Papes in their own special way, but really, what could be a better rivalry, the Glagow Celts V the Edinburgh huns?

      I could kinda go for that.
      HH

      • Tully says:

        The less of the ‘Hun elemen’t we see and experience in our day to day lives the better as its the scourge of Scotland and the decent folks who live in our society are sick of it.

        • Sweeney Hughes says:

          They’re a protestant club m8, I don’t think there’s anything intrinsically wrong with that and as far as I know they’ve always been all inclusive.
          Celtic are a Catholic club, and there’s nothing intrinsically wrong with that and we have always been all inclusive.
          There’s not much that we can say about them that they can’t say about us, the huns however are on a completely different level.

          Manchester, that’s the huns.
          Homeless beggars in fountains.
          Barcelona.
          Singing songs about wee lassies dying of cancer.
          That’s the huns.
          None lower.

  • Tully says:

    Will be glad to see the back off the Hun wannabes

  • Pyewacket1888 says:

    I hope to never see the Huns again. Never. But I don’t want to see other Scottish clubs go to the wall. Not even Hun wannabes. We are a Scottish club and we need professional domestic competition. Losing a club the size of hearts is not a good thing. H. H.

  • Joe says:

    You got to be kidding!! Huns are never going away in Scottish football. They have been living under the heading SFA for years and they will be the last group standing as they continue to watch the ship sink. They find the lifeboats every time.

  • paranoidandroid says:

    It’ll be interesting to see when Hearts go into administration or get liquidated whether they’ll get to follow the same special “rules” as oldco/sevco or not.

    I hope they don’t go out of business. We need some competition in Scotland, and although Scottish football needs fewer professional clubs, this is not the way to achieve it.

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