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SBD Global/June 28, 2013/Marketing and Sponsorship
Sponsor Wonga Gives SPL Side Heart Of Midlothian A Cash Boost
Published June 28, 2013
FIVE-FIGURE SUM: The Scotland DAILY RECORD reported a source close to the club confirmed the amount was a "significant five-figure sum," with a number of installments, which "had been due to be paid before the company's three-year backing ends next summer, brought forward." Jambos officials -- which still need to raise £750,000 ($975,000) to keep the club afloat until the start of the new season -- "feared that news of the cash advance would see season-ticket sales ease off" with them less than halfway toward the 3,000 target they still need to sell. Manager Gary Locke said, "It's great that one of our main sponsors has shown they are willing to back the football club" (DAILY RECORD, 6/27).
SETTING A DEADLINE: The BBC's McLauchlin & Dewar reported the administrators of Hearts have issued a deadline of July 12 for formal offers for the club. BDO has "sent a sales memorandum to all parties who have already expressed an interest in buying the club." The document indicates that "negotiations are ongoing with the relevant parties in Lithuania" (BBC, 6/26).