Hearts given boost as administration nears end

Heart of Midlothian’s future is looking a little brighter after the current shareholders, UBIG, agreed to transfer their stake to a Jambos supporters group.

Heart of Midlothian’s future is looking a little brighter after the current shareholders, UBIG, agreed to transfer their stake to a Jambos supporters group.

The Edinburgh outfit, currently in administration which is being looked after by BDO, has 78.97% of the club owned by Lithuanian company UBIG but they will sell to the Foundation of Hearts for an undisclosed fee.

BDO’s Bryan Jackson, joint administrator of Hearts, said: "This is welcome news for the club as it means that the transfer of ownership can go ahead.

"While there remain some technical issues to resolve the process is now gaining some momentum. I would again like to thank the fans, the staff and the players for their continued patience during this time.

"For all those involved with hearts, on and off the pitch and on the terraces, it has been a very difficult period and their assistance and support has been greatly appreciated."

Ian Murray MP, chairman of the Foundation of Hearts, added in a statement: "This is very welcome news from BDO. We are edging closer to getting the club out of administration and we are now talking when rather than if.

"This is a very significant hurdle overcome and we are delighted but more work is required. Let me continue to stress that we encourage every supporter who has not yet done so, and is able, to set up their monthly contribution."

 
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