Hearts deny financial trouble

Hearts have moved to quash speculation that the SPL club is set to enter administration.

Last Updated: 30/04/13 at 16:19 Post Comment

Tynecastle officials have denied any serious financial problems

Tynecastle officials have denied any serious financial problems

Reports suggest the club are on the brink of financial meltdown amid rumours of late payment of salaries and unpaid debts to Ukio Bankas Investment Group and Ukio Bankas.

The Tynecastle side are reportedly £25m in debt with £15m of that owed to the Lithuanian bank.

However, a statement on the club's official website read: "The club has been made aware of rumours concerning possible administration.

"The club will continue to do everything within its power to trade normally. It should be noted that Hearts has not required or received additional funding from UBIG or Ukio Bankas in over a year and is servicing its existing debt.

"The club is completely up to date with player salaries and taxes and the club continues to head towards operational self-sustainability.

"This has been made possible by reducing operating costs while continuing to focus on increasing revenues through season ticket sales, match ticket sales, merchandise, hospitality and sponsorship.

"While the general economic and Scottish football marketplace conditions remain challenging, Hearts is focussed on meeting its requirements as a business and a football club.

"The club's health and viability continues to be dependent on successful player identification, development and trading, careful cost control and building revenues.

"With the continued support of the Heart of Midlothian fanbase, the club has an opportunity to continue stabilising and then building for the future."

TEAMtalk Facebook Fan Page

The TEAMtalk fan page is a great place to meet like minded people, have football related discussions and make new friends.

Related News

Most Commented

Readers' Comments

E

ven if United were to sign CR7 & Messi to play upfront, the fact remains Fletcher and Cleverly are playing in midfield. That's where the problem is. Fletcher is too slow with an awful pass, while Cleverly is simply rubbish

mrunited4life
Di Maria - A Signing of Necessity, or Opportunity?

T

hese days, these days, you can't say something racist without somebody saying that you're a racist.

tk421
'Wrong' Views Not Silenced By Shouting...

D

rop Rooney (he's so disappointing, overrated and overpaid), and play Di Maria and RVP upfront, much like the set up at the Netherlands team with Roben and RVP...

eric bush3
Di Maria - A Signing of Necessity, or Opportunity?

Footer 365

Transfer news: Tottenham strike deal for Montpellier midfielder Benjamin Stambouli

Tottenham have agreed a fee with Montpellier for defensive midfielder Benjamin Stambouli, according to the French club.

Transfer news: Chelsea confirm agreement with AC Milan for two-year Fernando Torres loan

Chelsea striker Fernando Torres will have a medical at AC Milan on Saturday ahead of an agreed two-year loan deal.

Europa League: Roberto Martinez happy Everton start and finish at home

Roberto Martinez is happy with the way the fixtures have worked out for Everton in their tough Europa League draw.

Mail Box

Surely A Spurs Fan Should Remember...

...what happened to the fourth Champions League place the last time an English team won the thing. Plus, who would want to pay £60 to watch the current England team?

Ginger Pirlo? Don't Make Me Laugh...

A Sunderland fan in the mailbox is surprised by Jack Colback's call up to the England squad. Plus, thoughts on Welbeck and Liverpool's Champions League draw...

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