Jun 18, 2013, 7:56 AM EST
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.
Nov 24, 2014, 3:00 PM EST
Schalke is three points back of Chelsea despite drawing 1-1 in the Stamford Bridge portion of group play.
Nov 24, 2014, 2:23 PM EST
The league announced Monday that Akindele edged Steve Birnbaum of DC United and Harry Shipp of the Chicago Fire for the honor.
Nov 24, 2014, 2:05 PM EST
The second-placed Saints need a win to keep pace with a Chelsea team threatening to run away with the Premier League.
Nov 24, 2014, 1:17 PM EST
Packwood is a promising defender who can be a big part of the US U-23 picture and onward.
Nov 24, 2014, 12:36 PM EST
Seven of his eight appearances have been substitutions, all in the 76th minute or later.
Nov 24, 2014, 11:35 AM EST
No one told Wright-Phillips another yellow card would keep him out of an MLS Cup Playoff game. Pretty unsettling if you’re a Red Bulls fan.
Nov 24, 2014, 10:45 AM EST
Arteta felt they were dominating the game before an own goal from Kieran Gibbs changed the temperature and, at the risk of losing something in the language, doesn’t think highly of the Red Devils.
Nov 24, 2014, 9:46 AM EST
It wasn’t quite a number that rivaled top American matches, but women’s soccer in England can take an extra bow.
Nov 24, 2014, 9:09 AM EST
A trio of American attackers scored goals and a bevy of defenders and netminders worked good shifts in the own end.
Nov 24, 2014, 8:20 AM EST
Certainly keepers like David De Gea, Tim Howard, Wojciech Szczesny, Hugo Lloris and Salvatore Sirigu are scratching their heads.
Nov 24, 2014, 7:30 AM EST
Two teams on very different form meet on NBCSN to finish off the weekend’s Premier League action.
La Liga and Serie A roundup: Valencia, Napoli falter in Champions League bids; Milan derby a stalemate
Nov 23, 2014, 10:20 PM EST
Catch up on all of Sunday’s action and movement in La Liga and Serie A.
Nov 23, 2014, 8:15 PM EST
The Revs and Galaxy may both hold one-goal advantages, but they’re very different leads built in very different ways.
Nov 23, 2014, 7:45 PM EST
The Crystal Palace manager hailed his side’s “Neil Warnock performance” as they pull themselves out of the relegation zone.
Nov 23, 2014, 7:14 PM EST
The Galaxy find themselves just 90 minutes from the third MLS Cup final in four years after a narrow victory over the Sounders.
Halftime, MLS Cup Playoffs: LA Galaxy, Seattle Sounders in 0-0 Western Conference Championship stalemate
Nov 23, 2014, 6:05 PM EST
Zeroes on the scoresheet, but plenty of action in the first half. Sounders very patient, but Galaxy getting close.
Nov 23, 2014, 5:32 PM EST
He’s only ever done it twice in his MLS career, but with the season — and maybe his career — on the line, Thierry Henry will play on artificial turf next week.
Nov 23, 2014, 4:50 PM EST
The Spurs manager wouldn’t be drawn into talk about the winner from Christian Eriksen or the red card to Gaston Ramirez, instead discussing how he was just delighted to get three points any way he can.
Lineups, MLS Cup Playoffs: LA Galaxy host Seattle Sounders in Western Conference Championship, leg 1
Nov 23, 2014, 4:25 PM EST
Lineups are in for the Galaxy and Sounders’ Western Conference Championship first leg matchup. Two massive omissions leave Seattle shorthanded.
Nov 23, 2014, 4:07 PM EST
The Eastern Conference Championship first leg finished Red Bulls 1-2 Revolution, putting Jay Heaps’ side in full control of the series.
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