Hearts intend to go into administration

Heart of Midlothian have announced they intend to go into administration amidst their financial crisis.

Heart of Midlothian have announced they intend to go into administration amidst their financial crisis.

The Edinburgh club have been given a winding-up order because of an unpaid £100,000 tax bill to Her Majesty’s Revenue and Customs and will now bring in accountancy firm KPMG as their administrators.

A club statement on Monday evening read: “Heart of Midlothian plc can today confirm that it has served a notice of intention to appoint an administrator.

“The notice was served at the Court of Session in Edinburgh this afternoon.”

The Jambos are currently trying to pay off debts of around £25million and have subsequently placed all players on the transfer list.

The Tynecastle outfits Majority shareholder UBIG, owner of 50% of the club, and 29.9 per cent shareholder Ukio Bankas were both once controlled by Vladimir Romanov and are in the process of being listed as insolvent by Lithuanian authorities.

 
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