Jul 5, 2013, 9:06 PM EDT
Scottish Premier League club Hearts have been slowly falling deeper and deeper into administration since they declared their financial incapabilities in mid-June.
With debts reaching upwards of £25 million ($37.2 million), accountancy network BDO, who are in charge of the administration process, have taken a drastic step in finding an owner to take the club past their struggles.
At the risk of public ridicule, they’ve listed Hearts on the website BusinessForSale.com. Yeah, it’s that bad.
The listing says the club assets, brand name, and Tynecastle Stadium are a package deal in the sale. Among the properties listed in the sale description are “Heart of Midlothian Football Club brand and associated goodwill” and “Squad of 22 players, together with a highly skilled, loyal and experienced workforce.”
It’s been an odd past month for the Edinburgh club. Just before filing their administration paperwork back in June, a Scandanavian consortium of investors offered to inject an immediate payment of £500,000 ($775,000) in return for the promise of future payouts from any possible transfer sales of a group of named players. The offer was ultimately rejected by the club after a bit of negotiating.
It hasn’t been all bad news. Players such as 21-year-old defender Danny Wilson, recently named captain, announced their intentions to stick around despite the chance to leave. The club while in administration was given a transfer embargo, but a loophole allows certain players to make moves elsewhere. Wilson signed a 3-year contract extension Friday and said “I’m here for the long haul and hopefully we can come through this better.”
The parent company of Hearts is Lithuanian investment company Ukio Bankas Investment Group, who placed the club in administration.
Oct 23, 2014, 7:54 AM EDT
After two draws in October, the USA drops six places in latest world rankings.
Oct 22, 2014, 11:04 PM EDT
How did the Galatasaray supporters pull off this Tifo before Wednesday’s match against Borussia Dortmund? How?!?
Oct 22, 2014, 10:10 PM EDT
The pair of Premier League clubs remaining in the competition face quite different tests on Thursday.
Oct 22, 2014, 9:25 PM EDT
Perhaps it isn’t the sexiest year for rookies in Major League Soccer, but there’s a quartet of names set to stick around for a while.
Oct 22, 2014, 8:30 PM EDT
“I had hope, it maybe didn’t look like it, but it happened,” Wenger said.
Oct 22, 2014, 7:23 PM EDT
“So overall, it’s a squad with a lot of experience playing at the highest level, and this will be another great benchmark for us,” Klinsmann said.
Oct 22, 2014, 6:30 PM EDT
Of course many are claiming this “is the beginning of end” for Balotelli on Merseyside. That seems a bit much.
Oct 22, 2014, 5:40 PM EDT
Here’s the bar, Week 33 of Major League Soccer: Please feel free to raise it.
Oct 22, 2014, 4:47 PM EDT
We are at the halfway point in Groups A-D, and some English clubs are concerned about their fortunes to be sure.
Oct 22, 2014, 4:41 PM EDT
It was a night to forget for the home side, as Real ruled at Anfield. Here’s what we learned.
Oct 22, 2014, 4:36 PM EDT
The 21-year-old Honduran international did what a dangerous Alexis Sanchez couldn’t, but Arsenal was rescued late.
Oct 22, 2014, 4:34 PM EDT
Ronaldo, Benzema and co. put on a clinic at Anfield, as Liverpool are taught a lesson.
Oct 22, 2014, 2:54 PM EDT
The CAF claimed Platini said something he didn’t, and it hurt his feelings.
Oct 22, 2014, 2:14 PM EDT
Here’s what it’s like at Anfield, as Liverpool host Real Madrid in the UEFA Champions League.
Oct 22, 2014, 1:58 PM EDT
With yesterday’s goal frenzy, will today give us the same excitement?
Oct 22, 2014, 1:34 PM EDT
This is the second time Robinho is under investigation for such an alleged incident.
Oct 22, 2014, 12:17 PM EDT
NYCFC’s first Designated Player will be returning to the United States to fulfill commercial and marketing obligations, and it’s unclear whether he will make his way back to Australia to finish out his loan.
Oct 22, 2014, 11:36 AM EDT
Now that he’s back from a hernia problem, the American told Stoke’s YouTube channel that he is no longer a right-back and the club is aware of where he wants to play.
Oct 22, 2014, 10:51 AM EDT
Rog and Davo gain whiplash from QPR-Liverpool, and the Jurgen Klinsmann-Don Garber saga.
Oct 22, 2014, 10:28 AM EDT
After 10 years with the club, Gourlay has stepped down.
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