Hearts escape SPL sanction

The Scottish Premier League has announced that Hearts will not be subjected to a points deduction after concluding insolvency has not occurred at the club's majority shareholder UBIG.

Last Updated: 20/05/13 at 18:32 Post Comment

The Edinburgh club were facing a possible 18-point deduction, and instant relegation, if it been decided that SPL rules were breached by UBIG's declaration of insolvency last week.

UBIG, who owns 79% of shares in Hearts, was last week listed on a Lithuanian government website of insolvent firms after reportedly declaring itself unable to meet its liabilities.

SPL has been consulting with its lawyers over its rules and has decided, following a board meeting, that UBIG's action is not in breach of them.

The SPL issued a statement reading: "The SPL Board met today to consider reports from Lithuania in respect of Ukio Banko Investicine Grupe.

"The Board are not satisfied, on the basis of information currently available to it, that an insolvency event (as defined by SPL Rules) occurred in respect of UBIG during Season 2012-2013."

Hearts could yet face action if the situation develops in Lithuania - but the

points deduction would likely take effect next season.

SPL chairman Ralph Topping added: "We acted on the information that was available to us.

"That's not to say that other information will not come forward in the next few days or weeks ahead but we can only deal with what we have got at the moment and, on that basis, there is no insolvency event under our rules.

"It's good news at the moment. With everything in Scottish football, there is temporary respite."

Related News

Most Commented

Readers' Comments

O

K FIFA we're done, you can ban us now

jimmyjazz
Barcelona transfer ban upheld

A

h Daniel. I could spend hours on this subject putting the world to rights. You can even take a step back and ask why football fans (and society in general) have this need to know that something will happen before it actually does. There are times this important, when it comes to things like war, food production and natural disasters. A man you've never met changing his job? Not so much.

ajsr1982
Time To Burst The ITK Bubble

G

reat article. Hits the nail on the head. Encapsulates why I don't read tabloid newspapers anymore. The only thing worse is the 'told you so first' headline when they get lucky.

ianonabeach
Time To Burst The ITK Bubble

Footer 365

Premier League: Tim Sherwood in pole for Crystal Palace job after Malky Mackay ruled out

Tim Sherwood is the new favourite to manage Crystal Palace after a dramatic day ended Malky Mackay's chances.

Champions League: Alex Oxlade-Chamberlain backing Arsenal to reach group stages

Alex Oxlade-Chamberlain is confident Arsenal’s have the quality to beat Besiktas in their Champions League play-off.

Transfer News: Hull City keen on Vincent Aboubakar but yet to make offer

Hull City manager Steve Bruce has revealed the club are considering a move for Lorient forward Vincent Aboubakar.

Mail Box

So Long And Good Luck To Nani

A Mailbox that offers best wishes to a departing hero, defends Olivier Giroud, tells us to steady on over Calum Chambers and makes some amusing predictions...

Mailbox: Feeling Sorry For Poor TC23

If there's one loser in all the machinations at Man United, it's poor TC23. We have mercifully few mails on United, but lots on Arsenal and in particular Olivier Giroud...

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