Fears that Hearts will be unable to complete the season have intensified with a fresh round of pay cuts at Tynecastle.
If they go into liquidation before the end of the season it would have a significant impact on the SPFL effecting both ends of the table.
In normal circumstances Hearts victories would be reversed to 3-0 defeats with Aberdeen set to benefit most with after losing twice to the doomed mob from Gorgie. How Neil Doncaster and the SPFL interpret the rules is anyone’s guess.
If Hearts were to go into liquidation tomorrow Aberdeen would be just four points behind Celtic, who have two games in hand, but more importantly put them seven points clear of Motherwell into second place.
Hearts have only won three SPFL games this season- two of them against Aberdeen.
On Monday it was revealed that assistant manager Billy Brown won’t have his contract renewed and will leave the club on Saturday while managing director David Southern and director of football John Murray ‘have agreed to pay cuts’.
Despite having agreed in principal to a CVA with the Hearts Foundation in November administrators BDO have been unable to secure the transfer of shares in UBIG (the parent company of Hearts) to complete the CVA.
With no sign of progress in Lithuania over the administration of UBIG the chances increase of Hearts going into liquidation before the end of the season.
Announcing yesterday’s pay cuts Bryan Jackson of BDO said: “Both David and John have kindly accepted a cut in wages to help reduce the running costs at the club. We remain focused on the main issue of getting Hearts out of administration by negotiating with the Lithuanian administrators for the transfer of shares.”
Jackson added: “A key element in the success of this administration is keeping Hearts solvent throughout this process until the share transfer can occur and all issues can be resolved.
“I would like to thank the team and staff at Hearts and the fans for their patience and loyalty throughout a very difficult period. We are getting closer to a resolution, but there is still some way to go and several obstacles to overcome. So I would ask everyone to remain focused on the end result, which is to keep the club going both on and off the pitch for the next few months.”
It would be tragic (in terms of Scottish football) if Hearts went to the wall.
Our reputation around the world would sink even lower should this happen
I disagree!!!
I think it would be real funny like…:)
Jack Meldrum
All Hearts ”success” and victory’s over their bitter rivals Hibernian and other’s are sounding a wee bit hollow these days. What does it profit a club to win the Scottish Cup by cheating but potentially lose their club in the process! I find it very difficult to have any sympathy at all.
Just like Sevco their dead cousins over in Govan they tried to cheat their way to success and it has backfired big style. Will they learn any lessons?
We’ll see!
First Airdrie, then servo then Hearts, only one common denominator in all three,we are still here in our original and Honest form.
I think you mean first Airdrie, then Rangers (not Sevco) then Hearts. Sevco are the new club created out of the ashes of Rangers.
I meant servo as I don’t think they will have fully audited accounts in for the end of March in order to get a license for the new season.
Well said,Buffy.
Whose fault is it hearts have NO money ?
hearts.
Whose fault is it hedge fund Sevco have
NO money ?
sevco.
Other clubs work to tight financial budgets.
So NO excuses,for the predicament these
clubs find theselves in.
The Pars have more class, than the 2 of
them, put together.
They worked hard through their CVA, without complaining or blaming.
The Pars INTEGRITY is intact, and all of
Scottish football, should applaud and admire them.
Unlike,the above forementioned clubs, who are 2 cheeks of the same ARSE !!
They ARSED it up !
So, DEAL WITH IT !!
Hail,Hail to ALL clubs with INTEGRITY !!
Absolutely agree Peter,
Any club could make mistakes and find itself in a dark hole but its how you climb out of it that shows the “integrity” of the members of that club.
The Pars looked inwardly and rallied to save their club. No blaming of anyone bar themselves. They took their demotion on the chin, lost 3/4 of their playing staff and have been quitely going about their business to rebuild their club (with hardly a peep from the rancid MSM).
As for the other two “CHEEKS” (I like it) they have done nothing but carp like spoilt kids, blaming everyone in the game bar themselves, NO apologies and together with their friends in the SFA & MSM show a total lack of respect for every other club in Scottish football.
Their time of thinking they were too big to fail and aloof is over, and the rest of us will make sure they never forget it.
hail hail
Could,nt agree more. Football is supposed to be a sport I.e the best on the day gets the prize. If you need to cheat you can feck off.iI for one have had enough of this great wee ” country” play the feckin game or sod off.
Mwahahhaahhaha.
Die.
Then rot in Hell Hertz.
Mwahahaha James, I agree my friend!
SUNSHINE ON LEITH! 🙂
OOH OOH OOH TO BE A HIBBEE 🙂
I’M NOT THO, SEE I’M A CELTIC MAN……BUT THE THOUGHT IS THERE 🙂
TAL!
Hawrts
Surely liquidation is the easy way out? It’s worked for Oldco/Newco hasn’t it? Shed your debt and only get ‘punished’ by dropping a few divisions. Simples no?
Watch out now for the MSM to avoid all mentions of liquidation and dying and histories being lost if Hearts are in real danger, just like they did when Dunfermline almost died. As if that didn’t happen to their beloved bears It’s amazing how a repeated lie can become the (s)truth to some jellyheads.
We already had the Govan pantomime characters Green and Whyte. What next for the Gorgie Hertz? Mr High comes to the rescue followed by Mr Bee? You couldnae make aw this up hahahahahahaha
There aren’t many mr highs out there !
drawkcab,
Not many Mr High’s ??
I got one of your hackney cabs., last week, with a work colleague.
The driver told us the fare.My colleague
said, ” that’s high “,
The driver replied,yes Mr High,thats’right !!
haw haw haw
MSM. . .
Tails of the hUn-expected!
I think the doomsday brigade at SPFL towers are crapping bricks as they know if hertz go the liqui route there will be parallels drawn between every other club it has happened to. We shall then see which favours were granted to the mucky mob across town from us. Much as I don’t want Scottish football to be more screwed we do need a clean up and this is the only way to do it
Mr High n Mighty? http://www.youtube.com/watch?v=JgcUTUvoX90
I hae a hunch hundreds of hunchbacked huns will be hunkered oan there hunkers hiding fae the huntsmen… silly hunts.
Yeah run up uncontrollable debts and steal from charity then just rename your club with ‘The’ at the beginning. Seems to be the common way to deal with it!
Jelly and ice-cream anyone? Tick tock……..
Altogether now!
”C- H.E.A.r.T.S. . . .C- H.E.A.r.T.S. . .Glorious C- H.E.A.r.T.S”
”Follow. . . Follow. . . they will Follow Sevco. . .”
”Hello. . .Hello. . .they are the washed up boys! ”
. . .”Just can’t get enough. . .”
Oh, happy Days!