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SBD Global/June 27, 2013/Franchises

Scottish Football Association Fine For Heart Of Midlothian Would Be 'Disaster'

Scottish Premier League side Heart of Midlothian administrator BDO partner Bryan Jackson Tuesday night appealed to the Scottish FA "not to impose any financial sanctions on Hearts, warning that a fine would be a 'disaster' and could tip the Tynecastle club 'over the edge,'" according to Alan Pattullo of the SCOTSMAN. The SFA "is expected to instruct an independent judicial panel within weeks to assess Hearts’ financial position and to decide what punishment to hand down to the club." Jackson said, "Any monetary penalty would be a big, big concern in how we’d get over that. We understand why there has to be sanctions, we understand the rule is there, but it’s a real pressure on us in a lot of ways." The club owes £25M ($38.3M) to Lithuanian firms Ukio Bankas and UBIG, which "are also major shareholders in Hearts and enduring their own financial crises." Since BDO was appointed as administrators and revealed that 3,000 season ticket sales "were needed within 14 days simply to keep the club afloat throughout the summer, Hearts fans have responded well, with 1,200 sold already" (SCOTSMAN, 6/26).
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