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.
Jul 24, 2014, 10:25 AM EDT
The Manchester United boss proves that even Premier League training sessions sometimes echo your experiences on a youth travel team.
Jul 24, 2014, 10:09 AM EDT
The Reds striker spends some times with the NBCSN broadcast crew during Liverpool and AS Roma’s ‘Football at Fenway’
Jul 24, 2014, 9:29 AM EDT
The Ecuadorian star winger, 24, joins Gylfi Sigurdsson and Bafetimbi Gomis as players to beef up Garry Monk’s attack
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Jul 24, 2014, 9:01 AM EDT
Well, this sounds nice…
Jul 24, 2014, 8:23 AM EDT
The growing mess in Israel carried over onto the soccer fields of Austria, where Maccabi Haifa played a preseason friendly against Lille.
Jul 24, 2014, 7:45 AM EDT
Almost 90,000 fans in Los Angeles watched Manchester United put an old-fashioned punking on their hosts. And then both sides reacted.
Jul 23, 2014, 11:27 PM EDT
Surely one of these clubs enjoyed the sweeter side of this deal and here we set out to see who it was.
Jul 23, 2014, 10:40 PM EDT
Despite starting only 12 Premier League matches last year, James Milner has decided to remain at Manchester City and fight for his place.
Jul 23, 2014, 10:00 PM EDT
Catch the San Jose Earthquakes and Chicago Fire live on NBCSN and online via Live Extra tonight at 10:30pm ET.
Jul 23, 2014, 9:43 PM EDT
In a relaxed match featuring over forty players, the difference came in the 89th minute as Marco Borriello knocked home a corner.
Jul 23, 2014, 8:50 PM EDT
Rijeka have come forward to say they “clearly and unequivocally reject” City’s allegation of racism.
Jul 23, 2014, 8:21 PM EDT
Beasley signed a two-and-a-half-year deal with the Dynamo and becomes the club’s third Designated Player.
Jul 23, 2014, 6:48 PM EDT
Catch Liverpool and AS Roma live on NBCSN and online via Live Extra tonight at 7:00pm ET.
Jul 23, 2014, 5:49 PM EDT
Jurgen Klinsmann has long coveted Zelalem and the 17-year old looks to be next in line to don the Stars & Stripes.
Jul 23, 2014, 5:01 PM EDT
According to Fuchs, Germany and France would be happy to take over if needed.
Jul 23, 2014, 4:21 PM EDT
Sigurdsson, who scored seven goals during a loan spell with Swansea in 2011/12, returns at the Liberty after two seasons at Spurs.
Jul 23, 2014, 2:40 PM EDT
Can the Spanish international be a success at Chelsea? You bet.
Jul 23, 2014, 1:46 PM EDT
Is there anything Balotelli can’t do?
Jul 23, 2014, 1:16 PM EDT
Will Lampard be suiting up at Yankee Stadium for NYC FC next season? We find out Thursday…
Jul 23, 2014, 12:26 PM EDT
What would your school look like as a professional soccer team?
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