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SBD Global/July 26, 2013/Franchises

Only Foundation Of Hearts Meets Bid Deadline For Potential Takeover Of Heart Of Midlothian

The Foundation of Hearts appears "to be a step closer to a potential takeover" of Scottish Premier League club Heart of Midlothian after it was the only group to meet Wednesday’s 5pm bid deadline, according to Darren Johnstone of the SCOTSMAN. The fans group "submitted an improved offer to the club’s administrators BDO as well as proof of funding, as requested by the insolvency practitioners." Joint-administrator Bryan Jackson "was only able to confirm that he received one amended offer out of the three groups that made opening bids" ahead of the July 12 cut-off point. The remaining two, former Livingston Chair Angelo Massone’s Five Stars Football Ltd., and HMFC Ltd, which has Peebles-based businessman Bob Jamieson as its sole director, informed Jackson that their revised offers would be submitted Wednesday night. Failure of the two groups to comply with Wednesday’s target time "is sure to cast doubt over their respective attempts to be named preferred bidder" (SCOTSMAN, 7/25).
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