Wonga move to save Hearts
With increasing pressure being put on pay day lenders to be regulated Wonga have agreed to make an early payment for their shirt sponsorship deal with Hearts.
The Edinburgh side are currently in administration needing around £600,000 to see them through to the start of the season.
Over 1,200 season tickets have been sold since the club went into administration with the early payment from Wonga making it look likely that the club will reach the start of the season.
Hearts director David Southern said: “Wonga have shown an exceptional and unprecedented show of faith in our time of need.
“I cannot speak highly enough of how they have worked with us over the term and again when we have needed them most.
“Throughout, they have made themselves available and been straightforward and speedy to deal with. We are optimistic that their money added to our strong season ticket sales will go a long way to keeping the club going while we look for a suitable buyer.
“The investment they are making dramatically improves our immediate situation but the speed with which they have moved should provide other corporate partners with the confidence to come forward and help alongside them.”
Darryl Bowman, Marketing Director, Wonga, added: “We are a proud supporters of Hearts, and we want to do everything we can to help during this turbulent period.
“We are making this payment with our eyes wide open. Naturally, there’s risk attached but Hearts needs everyone to pull together. If other commercial partners follow our lead, we are optimistic that the fans and football will get the result we all want – a sustainable and competitive Hearts.”
Should they make it through to the start of the season Hearts will start the new campaign with a penalty of 15 points.