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SBD Global/May 2, 2013/Franchises

Financial Analyst Says Time Is Right For Buyers To Strike On Scotland's Hearts

Football finance analyst Neil Patey believes that "the time to strike is now" for any potential buyers for Scottish Premier League side Heart of Midlothian as the future of Lithuanian bank Ukio Bankas "approaches its judgement day" Thursday, according to Barry Anderson of the SCOTSMAN. Patey feels with Ukio Bankas in temporary administration, and with a Lithuanian court set to rule whether bankruptcy proceedings will be brought against Hearts majority shareholder Vladimir Romanov’s bank, "any prospective investors should take the bull by the horns." Patey: "It’s certainly time to get your funding and proposals together and then try to get the attention of the administrator. He may have bigger things on his mind, but, if someone knocks on his door offering sensible value for an asset pledged to him, why wouldn’t you at least entertain the discussion?" (SCOTSMAN, 5/1). In Glasgow, Alan Marshall reported Hearts fans buyout chief Ian Murray hopes this week's reports "will galvanise fans behind their bid for the club" -- which he describes as "the only show in town." Murray "is the figurehead for the combined efforts of six supporters' groups attempting to wrest control of the club" from Romanov. He urged fans "to pledge via the Foundation of Hearts website." Murray: "We need to be putting together a bid for the club. I would hope rumours of administration would have a bonding effect and increase pledges to our cause" (DAILY RECORD, 5/1).
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