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

More of the games that matter

2 years free Sky Broadband Unlimited for Sky Sports customers

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."

More of the games that matter

2 years free Sky Broadband Unlimited for Sky Sports customers

Related News

Most Commented

Readers' Comments

I

put Ince in my fantasy football team, so it's no surprise at all really. I do that to players. Also responsible for De Jong and Upson being injured. Think I'll transfer in Di Maria just to ruin United....

megabrow (cufc)
F365's Top Ten Surprise Strugglers

L

ovren? £20m always seemed a touch on the expensive side, but I wasn't expecting him to be quite such a waste of money

stevenjameshyde
F365's Top Ten Surprise Strugglers

H

alf of our players have the physical presence of a 14 year old girl. I don't know why people are always shocked that they're injured.

TheWhiz
Wenger baffled by injuries

Footer 365

England: Arsene Wenger believes Arsenal's Kieran Gibbs can become next Ashley Cole

Arsene Wenger believes Kieran Gibbs can follow Ashley Cole's example and become England's first choice left-back.

Gerry Francis believes Roy Hodgson should now look to his younger players

Gerry Francis believes the forthcoming international fixtures are the perfect time for Roy Hodgson to field new talent.

Scholes blasts City 'atmosphere'

Former Manchester United midfielder Paul Scholes has strongly criticised the atmosphere at Manchester City's Champions League tie against Roma.

Mail Box

Do City Really Need To Expand Their Stadium?

That's the question posed by one Man United fan in the mailbox after seeing the empty seats at the Etihad last night. Sadly, there isn't a single mail from a City supporter...

#Usingfootballersnamesineverydaylife

We have the last of these as well as mails on Liverpool, Wayne Rooney, QPR, Arsenal's injuries and more. It's a mailbox that's Alonso rather than Rafael, if you will...

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