Next Game

Hearts v Hibernian

Saturday, 03 January 2015, 12:45

Scots Champ

Last Game

Livingston 0 - 1 Hearts

Saturday, 27 December 2014, 15:00

Scots Champ

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

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

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.

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

Related News

Most Commented

Readers' Comments

W

e have the personnel. The trick is keeping them fit. Carrick and Blind have missed large chunks of the season, while the defence has been one muddled mess of intermittent stooges, all coming and going at various intervals thus far. We may be just short of title winning quality, but we're half way through. An injury crisis to either of the top two could change things. Optimistic, yes, but not unrealistic.

HarryBoulton
One Point And One Conclusion For United

P

arish is the man to blame for this shambles. Pulis must be chuckling into his left over turkey sandwich. I pray this doesn't mean the Neil Warnock media machine will kick in now and he'll be back on the telly box.

magicfuller
Warnock sacked by Palace

W

e almost found a new way to lose, just when I thought it was getting boring Giroud does that. Although Arsenal are deservedly called 'soft' the entire midfield is out injured. Still must admit MU are managing to win despite a similar raft of absentees. Think the Gunners have good players but poorly coached.

gettalong
Wenger: Giroud deserved red

Footer 365

Jose Mourinho accuses referees and opposing managers of having 'campaign' against Chelsea

Jose Mourinho accused referees and opposing managers of having a "campaign" against Chelsea.

Premier League: Burnley fightback stuns Manchester City as Chelsea are also held

Manchester City and Chelsea stumble as Arsenal move into fifth place with a thrilling derby win over West Ham.

Premier League: Burnley come from behind to hold Manchester City at the Etihad

Manchester City threw away a two-goal lead to draw 2-2 with Burnley at the Etihad Stadium.

Mail Box

Van Gaal's Half-Term Report Card...

One Man United fan isn't happy with the rate the team is progressing under Louis van Gaal, while the mailbox also wishes Liverpool fans a Merry Mid-Table Christmas...

Hang On, Rafa's Success Is No Fluke...

The afternoon mailbox kicks the morning mailbox's arse after claims that Rafa Benitez has fluked his success. Plus, big talk about Liverpool's progress and lots more...

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