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.
Apr 17, 2014, 11:33 PM EDT
MLS’s nine-match Saturday kicks off Saturday at 4:00 p.m. ET, with Chicago hosting New England on NBCSN.
Apr 17, 2014, 9:03 PM EDT
Think MLS’s conferences are unbalanced now? Let me offer you a glimpse at 2017.
Apr 17, 2014, 7:44 PM EDT
An American consortium has a deal to buy the club from Randy Lerner, if it can avoid relegation.
Apr 17, 2014, 6:38 PM EDT
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Apr 17, 2014, 6:02 PM EDT
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Apr 17, 2014, 5:54 PM EDT
Gunners playmaker back fit, as Arsene Wenger expects big things from the German next season:
Apr 17, 2014, 5:24 PM EDT
Real Madrid has the easiest path, with the next two weekends potentially knocking the holders out of contention.
Apr 17, 2014, 5:14 PM EDT
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Apr 17, 2014, 4:53 PM EDT
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Apr 17, 2014, 4:24 PM EDT
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Apr 17, 2014, 3:28 PM EDT
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Apr 17, 2014, 2:46 PM EDT
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Apr 17, 2014, 1:58 PM EDT
With Guardiola not taking kindly to criticism from the front office, could the former Barcelona boss return to the Camp Nou?
Apr 17, 2014, 1:02 PM EDT
For decades Manchester United have been the top dogs in Manchester, now that’s changing. PST’s Editor and Lead Writer went behind the scenes to see what Mancunians are all about:
Apr 17, 2014, 12:31 PM EDT
Can Brendan Rodgers and company make it through the rest of their schedule unscathed to the prize at the end? Chelsea seem like the biggest hurdle. Our very own Joe Prince-Wright and Mike Prindiville discuss.
Apr 17, 2014, 11:54 AM EDT
Conspiracy theories are abound, with Swansea’s Garry Monk believing someone is out to get his club while Aston Villa’s Paul Lambert couldn’t speak on the suspension of staff members due to a “legal investigation.”
Apr 17, 2014, 10:59 AM EDT
Napoli’s Marek Hamsik has struggled this year, but the 26-year-old could seriously bolster a Premier League attack.
Apr 17, 2014, 9:51 AM EDT
With its club licensing benchmark report for the 2012 season, UEFA has outlined trends that signal both unprecedented growth and overspending issues.
Apr 17, 2014, 8:23 AM EDT
According to a BBC report, a Cardiff player leaked the lineup to Moody who mistakenly sent a text to the wrong person.
Apr 17, 2014, 7:37 AM EDT
With Brendan Rodgers having steered Liverpool to unthinkable Premier League heights, Arsene Wenger believes the deciders should instead look to the league’s trenches to give out its postseason award.
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