Skip to content

Scottish football takes another hit as Hearts prepare for administration

Jun 18, 2013, 7:56 AM EDT

Hearts

Things in the Scottish Premier League have gone from bad to worse as Hearts is now preparing for administration.

The club confirmed the move on Tuesday, with a club spokesman saying: “We are not in administration yet but we have served our intention to appoint administrators.” It is widely believed that those administrators will come from KPMG, the mega-accountancy firm. Club creditors have been informed and a hearing is expected to take place in the next few days.

Hearts were issued a winding up order last week after Her Majesty’s Revenue and Customs threatened legal action over an unpaid tax bill of £100,000. Although the majority of that sum is belived to be paid off, the club board at Hearts admitted they had entered a “critical” stage in their efforts to pay off debts of £25 million. They also admitted to not being able to afford to pay their players.

These admissions triggered an immediate transfer embargo by the SPL and the entire squad was put up for sale in a desperate move to raise the reported £500,000 needed to get the club to the start of the season. If Hearts do make it that far the club is likely to face a 15 point deduction by the league as SPL rules state that involvency will strip a club of 10 points or a third of their previous season’s tally, whichever is the greater. Hearts finished the 2012-13 campaign in 10th place with 45 points.

The sad news of Hearts only adds to the troubles that have plagued the SPL over the last few years.

Last summer, the league took what was arguably its biggest hit when Glasgow Rangers became insolvent and entered administration, resulting in liquidation when an agreement could not be reached with its creditors. The club’s business, name, history and assets (including the Ibrox Stadium) were purchased by a new company (The Rangers Football Club Ltd aka “newco Rangers”).

This purchase allowed Rangers’ Scottish Football Association membership to be transferred in time to enable the club to relaunch itself in the Scottish Football League’s Third Division for the 2012-13 season. Rangers finished first in the division and next season will be playing in the Second Division.

If such a transformation is to happen at Hearts, a white knight needs to save the club, and quickly.

 

Latest Posts
  1. VIDEO: Manuel Pellegrini “not disappointed” by Manchester City’s defeat

    Oct 25, 2014, 12:48 PM EDT

    FBL-ENG-PR-WEST HAM-MAN CITY FBL-ENG-PR-WEST HAM-MAN CITY

    Pellegrini magnanimous in defeat, but City could be eight points off top spot by the end of the weekend.

  2. Liverpool 0-0 Hull City: Clean sheet small consolation for rigid Reds

    Oct 25, 2014, 12:05 PM EDT

    Reds thwarted by stubborn Tigers, as Balotelli fires a blank once again.

  3. West Bromwich Albion 2-2 Crystal Palace: Baggies find deserved point

    Oct 25, 2014, 12:04 PM EDT

    West Bromwich Albion v Crystal Palace - Premier League Getty Images

    West Brom won the shots battle 17-8 and carried nearly 70 percent of the possession by the time all was said and done.

  4. Southampton 1-0 Stoke City: Dominant Saints only need one goal

    Oct 25, 2014, 11:59 AM EDT

    Southampton v Stoke City - Premier League Getty Images

    It was 1-0 at half, and it was all the Saints would need.

  5. Watch Live: Swansea City vs. Leicester City (Lineups and Live Stream)

    Oct 25, 2014, 11:41 AM EDT

    Swansea City v Rotherham United - Capital One Cup Second Round Getty Images

    Eighth-place Swans will host the suddenly-struggling Foxes as both teams look to rebuild momentum after good starts to the season.

  6. FOLLOW LIVE – Luis Suarez starts for Barcelona vs. Real Madrid in El Clasico, full lineups

    Oct 25, 2014, 11:24 AM EDT

    Barcelona B v Indonesia U19: Friendly Getty Images

    Follow El Clasico here with live updates, as Suarez starts with his four month ban over.

  7. Watch Live: Liverpool vs. Hull City (Lineups and Live Stream)

    Oct 25, 2014, 9:50 AM EDT

    Balotelli AP

    Will Mario Balotelli score his first Premier League goal and get Liverpool going? Watch live, here.

  8. West Ham United 2-1 Manchester City: Hammers stun reigning champs

    Oct 25, 2014, 9:45 AM EDT

    FBL-ENG-PR-WEST HAM-MAN CITY FBL-ENG-PR-WEST HAM-MAN CITY

    Hammers win third-straight PL game, as City’s bad week gets worse.

  9. Watch Live: West Bromwich Albion vs. Crystal Palace (Lineups and Live Stream)

    Oct 25, 2014, 9:24 AM EDT

    Crystal Palace v West Bromwich Albion - Premier League Getty Images

    The Baggies are two points above the drop with 9 points, while Palace’s 8 points have them slightly less safe.

  10. Watch Live: Southampton vs. Stoke City (Lineups and Live Stream)

    Oct 25, 2014, 9:22 AM EDT

    Asmir Begovic smashes another long kick forward as the wind swirled around the Britannia Stadium. Getty Images

    Around this time last season, Stoke City goalkeeper Asmir Begovic scored a goal in the wind against Southampton.

  11. Now World Cup bound, USWNT can send message in CONCACAF final

    Oct 25, 2014, 9:17 AM EDT

    Tobin Heath, Liliana Mercado AP

    Before the tournament, we asked whether they’d roar, and so far the US women have done so.

  12. Louis van Gaal hails Jose Mourinho, beams about close relationship

    Oct 25, 2014, 8:55 AM EDT

    van-gaal-mourinho Getty Images

    Van Gaal: “He’s very special but he is very special for me because we’ve continued our relationship.”

  13. VIDEO: Brendan Rodgers concerned about Liverpool’s defensive issues

    Oct 25, 2014, 8:25 AM EDT

    Just what is going wrong at the back for Liverpool? Brendan Rodgers has a theory…

  14. WATCH: Premier League online via NBC Sports Live Extra – Week 9

    Oct 25, 2014, 7:02 AM EDT

    Live Extra

    Where and how to watch every PL game during Week 9 live online or via the app.

  15. Mauricio Pochettino says Paulinho will stay at Spurs

    Oct 24, 2014, 11:30 PM EDT

    FK Partizan v Tottenham Hotspur FC - UEFA Europa League Getty Images

    The midfielder is yet to make a Premier League start this season as rumors surfaced that he could return to Brazil on loan.

Featured video

PST Extra: Can United beat Chelsea?