Next Game

Hearts v Rangers

Saturday, 02 May 2015, 12:15

Scots Champ

Last Game

Cowdenb'th 1 - 2 Hearts

Saturday, 25 April 2015, 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

I

t's why Mourinho is so successful. He gives players a specific, limited set of functions to perform. They are but a cog in a machine. Do no more, do no less. I assume he learnt it from LvG :)

red_devil83
Fellaini Has Politely Become Undroppable

I

really hope that someone in the mainstream media spots that the Bayern manager played for and managed Barcelona quite well, and thinks to mention it in the build up. That would be really interesting.

megabrow (cufc)
Barcelona to face Bayern

Y

our gob says one thing, Brendan, the results say something else.

balls-to-monty
Rodgers bullish over Anfield future

Footer 365

League Two round-up: Tranmere and Cheltenham relegated to Conference

Shrewsbury secured promotion to League One by beating Cheltenham, whose relegation fate was sealed along with Tranmere.

Man City 3-2 Aston Villa: Brad Guzan drops howler before Fernandinho strikes late as City go second

Fernandinho struck in the 89th minute to hand Manchester City a dramatic 3-2 victory over Aston Villa in the Premier League.

League One round-up: Preston forced to wait for promotion party

Preston took a huge step towards promotion with a 3-0 win over Swindon, but MK Dons kept up the pressure with a victory.

Mail Box

Chelsea Millions Should Buy Better...

For the money they have spent, Chelsea should be playing like the Harlem Globetrotters rather than Atletico. We have mails on Cesc, Brendan Rodgers and...

Brendan Rodgers Is David Cameron...

Rodgers is compared to the Prime Minister, insomuch as he has a right to peddle bulls**t, apparently. Plus why comparing Arsene Wenger to Diego Simeone is a mug's game...

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company