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: “I Was There” visits both sides of the Manchester derby

    Apr 19, 2015, 2:34 PM EDT

    Screen Shot 2015-04-19 at 1.05.17 PM

    Go inside the Manchester Derby match day experience with a pair of supporter groups.

  2. David Silva may have escaped the worst following scary injury

    Apr 19, 2015, 1:49 PM EDT

    Silva Getty Images

    The Manchester City winger was sent home quickly from the hospital and he confirmed the “tests have gone well.”

  3. VIDEO: Pellegrini talks straightforward win over West Ham

    Apr 19, 2015, 1:27 PM EDT

    Pellegrini Getty Images

    The Manchester City manager wouldn’t be drawn into questions about his future at the club.

  4. Newcastle 1-3 Tottenham: Chadli, Eriksen see Spurs into sixth

    Apr 19, 2015, 12:51 PM EDT

    Spurs Getty Images

    Spurs bracketed halftime with a pair of goals and they stood tall to Newcastle’s spotty threat.

  5. Aston Villa 2-1 Liverpool: Gerrard denied fairytale ending as Villa stun Reds, reach FA Cup final

    Apr 19, 2015, 11:58 AM EDT

    FBL-ENG-FACUP-ASTONVILLA-LIVERPOOL FBL-ENG-FACUP-ASTONVILLA-LIVERPOOL

    Villa will play Arsenal in the FA Cup final after beating Liverpool against all the odds.

  6. Jose Mourinho: Chelsea had Manchester United’s stars “in our pockets.” Is he right?

    Apr 19, 2015, 11:39 AM EDT

    Chelsea v Manchester United - Premier League Getty Images

    Mourinho plays up defensive masterclass. But how did he quell United’s attackers?

  7. Watch Live: Newcastle vs Tottenham (Lineups and Live Stream)

    Apr 19, 2015, 10:44 AM EDT

    StJamesPark Getty Images

    Spurs search for a European place as they take on struggling Newcastle from St. James’ Park.

  8. Manchester City 2-0 West Ham: Two first half goals put down poor Hammers

    Apr 19, 2015, 10:35 AM EDT

    ManchesterCity AP

    The home side produced enough moments at the Etihad to see off a timid West Ham side.

  9. Memphis Depay is a major summer target for top teams according to PSV exec

    Apr 19, 2015, 9:55 AM EDT

    Depay Getty Images

    With his goal of an Eredivisie title secure, Memphis Depay will be a popular transfer target this coming summer.

  10. VIDEO: Odd James Collins own goal opens scoring at the Etihad

    Apr 19, 2015, 9:15 AM EDT

    Goal Getty Images

    The West Ham defender flubbed an easy clearance and sent the ball into his own net as Manchester City have dominated West Ham in the first half.

  11. Borussia Dortmund names Thomas Tuchel as Jurgen Klopp’s successor

    Apr 19, 2015, 8:16 AM EDT

    KloppTuchel Getty Images

    Thomas Tuchel will follow in Jurgen Klopp’s footsteps for the second time when he takes over at Borussia Dortmund this summer.

  12. Watch Live: Manchester City vs West Ham (Lineups and Live Stream)

    Apr 19, 2015, 7:52 AM EDT

    PellegriniAllardyce AP

    A pair of slipping sides meet at the Etihad in a rematch of last seasons title-clinching win for Manchester City.

  13. Injuries piling up for top teams as Modric, Mertesacker go down

    Apr 19, 2015, 7:31 AM EDT

    Mertesacker Getty Images

    It’s that time of year, where big clubs look to the bench to replace important players in big games.

  14. MLS Snapshot: Real Salt Lake 0-1 Vancouver Whitecaps

    Apr 18, 2015, 11:39 PM EDT

    Darren Mattocks, Vancouver Whitecaps Getty Images

    Two red cards for RSL, a late goal for Vancouver and the Whitecaps just keep winning.

  15. WATCH: The 2 Robbies answer the question, “Should Chelsea worry about entertaining?”

    Apr 18, 2015, 10:12 PM EDT

    Robbie Earle & Robbie Mustoe, The 2 Robbies Robbie Earle & Robbie Mustoe, The 2 Robbies

    Do the top teams have a responsibility to entertain, or should they look to win at all costs, no matter how boring it may be?

  16. MLS Snapshot: Columbus Crew SC 3-0 Orlando City SC

    Apr 18, 2015, 9:29 PM EDT

    Federico Higuain, Columbus Crew SC Federico Higuain, Columbus Crew SC

    Crew SC are going to be a really, really scary team once they get going. They picked up a great deal of steam on Saturday night.

  17. Bale, Modric pick up injuries, could miss Real Madrid’s Champions League second leg

    Apr 18, 2015, 6:58 PM EDT

    Cristiano Ronaldo & Gareth Bale, Real Madrid CF Cristiano Ronaldo & Gareth Bale, Real Madrid CF

    Not the ideal time for a pair of key players to go down in the same game, four days before a CL quarterfinal second leg.

  18. Promotion Watch: Watford lead the newly reconfigured (again) Championship race

    Apr 18, 2015, 5:58 PM EDT

    Watford v Birmingham City - Sky Bet Championship Getty Images

    New week, same story, new teams on top, same old excitement — the Championship is truly amazing this year.

Featured video

Hazard seals victory for Chelsea