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.
May 27, 2015, 3:23 PM EDT
After leading the Black Cats to Premier League safety, “The Little General” has announced he won’t return to the Stadium of Light next season.
May 27, 2015, 3:00 PM EDT
Goal scorers, goal creators, ball winners, possession destroyers — the list of top-10 midfielders has a little bit of everything.
May 27, 2015, 2:43 PM EDT
“Today’s events are a disaster for FIFA and tarnish the image of football as a whole. “
May 27, 2015, 2:17 PM EDT
The most controversial figure in world soccer has broken his silence.
May 27, 2015, 2:08 PM EDT
If Aston Villa wants any shot at beating Arsenal in the FA Cup final this Saturday, Christian Benteke must come up big.
May 27, 2015, 1:06 PM EDT
“This really is the World Cup of fraud, and today we are issuing FIFA a red card.”
May 27, 2015, 12:00 PM EDT
With the Hoops heading down to the Championship, Queens Park Rangers will have a completely new look next season.
May 27, 2015, 11:10 AM EDT
They say defense wins championships, so expect to see quite a bit of Chelsea blue on this list.
May 27, 2015, 10:31 AM EDT
Atsu spent this season on loan at Everton, and it looks like the Ghanaian will be headed south to the Premier League’s newest club.
May 27, 2015, 9:40 AM EDT
Sepp Blatter has served as president for 17 years and is expected to easily win reelection.
May 27, 2015, 9:00 AM EDT
Let’s take a walk through the six yard box with the Premier League’s 10 best ‘keepers for 2014-15.
May 27, 2015, 8:30 AM EDT
A press conference is scheduled to be held at 10:30 a.m. ET from the U.S. Department of Justice.
May 27, 2015, 7:52 AM EDT
Texas has been hit with massive flooding that has left at least 19 dead, as soccer takes a backseat.
May 27, 2015, 6:55 AM EDT
Attorney General Loretta E. Lynch speaks about the FBI’s investigation into widespread allegations of corruption at FIFA.
FIFA fallout continues: Swiss authorities open criminal proceedings into allocation of 2018, 2022 World Cups
May 27, 2015, 6:08 AM EDT
Mark down May 27, 2015 as perhaps the lowest point in FIFA’s history.
May 27, 2015, 5:20 AM EDT
FIFA officials from CONCACAF region and South America dominate the FBI’s wanted list.
May 27, 2015, 12:44 AM EDT
An unprecedented blow to the upper tier of FIFA’s personnel structure could be the beginning of a sweeping takedown of the organization’s corrupt inner workings.
May 26, 2015, 11:17 PM EDT
Toronto FC has put a “projected Starting XI” on Twitter, one that includes Michael Bradley and Sebastian Giovinco.
May 26, 2015, 10:28 PM EDT
Well, the Premier League season has been over for a solid 59 hours, and we shouldn’t let it get to 60 without digging through the muck that is the transfer rumor mill.
May 26, 2015, 9:30 PM EDT
All-in-all, he’s played for 11 clubs — four on loan — and only one for more than 30 matches (Standard Liege).
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