Ibrox Stadium

Next Game

Rangers v Hearts

Sunday, 10 August 2014, 13:30

Scots Champ

Tynecastle Stadium

Last Game

Hearts 3 - 1 Annan

Saturday, 26 July 2014, 15:00

Petrofac Training Cup First Round

Consortium make Hearts offer

A UK-based consortium has lodged a takeover bid for stricken Scottish Premier League club Hearts.

Last Updated: 19/06/13 at 14:31 Post Comment

Tynecastle: Home of Hearts

Tynecastle: Home of Hearts

Free £50 bet

Daily Offers and Promotions, sign up for a free £50 matched bet

The proposal is from a group of six wealthy businessmen and includes a draft Creditors' Voluntary Arrangement to help the Tynecastle club out of administration.

Administrators Valentas UAB of Ukio Bankas in Lithuania have indicated they would accept the CVA.

The consortium behind the bid wish to remain anonymous at this stage, but are fronted by Edinburgh businessmen Stephen Paterson and Fraser Kerr of Haines Watts accountants.

Paterson said: "We are acting for clients who don't wish to be named at this moment but they are Hearts-minded.

"The bid is for everything, it's not about splitting the ground from the team or anything. We want the club, the players, the ground, everything.

"The Lithuanian administrator has indicated he will vote for our CVA, albeit with a 15-point penalty for Hearts for entering administration.

"It is up to the administrator at Hearts to go through that process. Our bid is predicated on a CVA happening."

Ukio Bankas are to be liquidated but are owed £15m by Hearts and are the club's biggest creditors ahead of Ukio Bankas Investment Group, who are owed £10m.

Hearts stated their intention to enter administration on Monday with tax and player salaries unpaid and funding dried up on top of the combined £25m debts.

Free £50 bet

Daily Offers and Promotions, sign up for a free £50 matched bet

Related News

Most Commented

Readers' Comments

C

lassic management. Build them up and then knock them back. Raise expectations and then dampen them. Create a dynamic where by you demand the most from your team, but where the team are given room to manoeuvre unexpected or unwanted results. Classy work by Van Gaal, he really reminds me a lot of me. A smart cookie, make no doubt.

hump3.
Van Gaal: 'I struggle for first three months'

H

e will be the England left back for ten years or more, and then you will have to thank MUFC for that. *smiles*

london saint
Shaw: Criticism spot on

P

urely because of that little diva moment he had last night, I don't want him coming to my club. DESTROYED ? Grow up and give something back to the club that helped put you up there on the world stage.

bale doubt
Saints' Schneiderlin stalemate

Footer 365

Premier League: Southampton sign Ryan Bertrand on season-long loan from Chelsea

Southampton have signed a replacement for Luke Shaw after capturing Chelsea's Ryan Bertrand on a season-long loan

Indian Super League: Ex-Juventus and Monaco striker David Trezeguet joins FC Pune City

World Cup winner David Trezeguet has been unveiled as the latest Indian Super League signing, joining FC Pune City.

Transfer news: Everton sign striker Romelu Lukaku from Chelsea for £28m

Everton had to overcome a late paperwork scare to finalise the signature of Chelsea striker Romelu Lukaku.

Mail Box

Divock Origi Is Like Connor Sammon (Sort Of)

One Mailboxer inserts his tongue into cheek to offer his thoughts on Liverpool's newest signing. Plus thoughts on league-owned clubs, badges, and swearing...

Mails Come From A Land Down Under

We have an example of league-owned clubs from Australia while Kiwi boys want more respect for refs. Plus, Van Gaal won't stick with 3-5-2 and worried if Koeman will cut it...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property