Fri, 14 Jun 2013 | DIVISION SALE
In continued efforts to address its debt problems Heart of Midlothian will now receive expressions of interest in its team squad.
The club has debts of £25 million, of which £10 million is due to its parent firm UBIG’s own troubles – it is claiming insolvency.
The club has struggled to keep its head above water amidst rising stadium costs, a bad league finish and Glasgow Rangers FC’s absence from the Scottish Premier League.
The pressure is on to find a solution for its funding hole. The club noted in a statement: “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 team includes a new signing in the form of Danny Wilson who was taken on two weeks ago for a three-year contract.
When Hearts’ owner Ukio Bankas entered temporary administration in February, there were fears for the club’s future, with calls for a sale. Hearts owes the bank £15 million, but thankfully there is “goodwill” between them.
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