Hearts are on the brink of administration- two weeks after signing Danny Wilson on a lucrative three year contract from Liverpool.
Despite a vigorous cost cutting programme and aggressive sales of season tickets the club has admitted that it won’t be able to pay this months wage bill which is due this week.
The Tynecastle club have been on shaky financial ground for some time with wage delays and the threat of winding up orders a regular feature of recent seasons.
Announcing the latest development a club statement said: “Due to recent unexpected circumstances away from Tynecastle, the club is now experiencing a shortfall in funding. This shortfall, due to recent uncertainty, has created a significant noticeable blockage in projected revenue streams for the club.
“While this hesitation is understandable it is unwittingly damaging the club’s current efforts to improve its financial situation including current payments to HMRC and raising doubts over future payments to players and staff.
“It is now crucial to the football club that we find a solution to bring in enough finance to allow us to trade into the new season when normal trading can resume with the benefit of SPL and game-related income streams.
“The payments to HMRC and players/staff salaries are the most important issues in our focus these days where very limited time remains available to the club.
“However given that the revenues for season tickets has dried up and no other realistic income is available quickly enough, the club will consider offers for the players of the current squad, including the most promising talent in order for the most necessary and important payments to be made.
“The board had planned to bring income in through the sale of players while considering the financial forecast for next season but now this will need to happen much earlier in order to preserve the business. We understand that this will lead to significant on-field pressure but at all times we must consider the health of the club and preserve it for future generations.”
The crisis at Tynecastle will be one of the first issues for the newly merged SPFL to deal with with the SPL and SFL having different sanctions to deal with administration.
I have no time for this club….so it deserves whatever is coming to it…..
I do feel sorry for people who will be out of a job….and creditors who will suffer again no doubt.
(Hope that Face painter didnae have a contract here as well)……
On a serious note…..
There is something flawed about a set-up that allows organisations to do this…
it needs to change.
Agree no sympathy for them! How can theysign a player one week then listen to offers for the whole squad the next? Another club being run by morons!
REALLY MAKES ME LAUGH AT THOSE WHO SAY THEY WORRY ABOUT CREDITORS LOL AN RO ENOUGH MORONSIN YOUR OWN CLUB EH
Like Who?.
Would those be literate ‘MORONSIN’ ? EH?
AFPMSL
Translator required please….
Someone who understands pish…preferably.
Roughly translates to: bozburst or gemzabogey.
A natty range of John Wilson merchandise in the club store would get the backing of their support.
A BLAIM RA SKOOLS EH
LOL Zombie talk!
At least the Hertz haven’t swindled charities out of money unlike their sevconian zombie cousins.
shut them down send them to division 3 like they did with sevco Morton to take there place hail hail gbnl
A horrible little club that is facing the same fate as Sevco.I just wish some old friends were alive to witness it all.
And another hun (club) bites the dust !
Good that there will be no butchers aprons in the top flight stands, as the fitbaw players wearing maroon and blue .. will all be shaking the butcher, baker or candlestick makers hands :)…
Gotta foulkin laugh!!!
Funniest thing since their Glasgow cousins went down the lavvy, it’s obvious to everyone now just how stupid they gorgie huns are and i hope they rot in hell just like tfcfkar (the football club formerly known as rangers) However, i do feel sorry for the people losing their jobs and the genuine jam tarts fans and there are a few. This sends out a message to the whole of scottish football……… Don’t mess with Neil Lennon or you’ll go bust GBNL Hail Hail
Just had another thought, if by some miracle (funny handshakes at the sfpl anyone?) then maybe the can sing their song…. CVA CVA hahahaha