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SBD Global/April 2, 2014/Franchises

Hearts Administrator Draws Up Plan To Keep Jambos Playing This Season

Administrator for Scottish Premiership side Heart of Midlothian Bryan Jackson "is drawing up emergency plans" to keep Hearts playing for the rest of this season "even if he is forced to call in the liquidators this month," according to Keith Jackson of the Scotland DAILY RECORD. Jackson is now reluctantly preparing for a “worst-case scenario” after "being left dismayed and perplexed" by the latest move from Lithuania to stall on a deal to rescue the club through a CVA. Hearts "had expected to take a huge stride towards safety" on Friday when creditors Ukio Bankas and UBIG were scheduled to rubber stamp the transfer of 80% of the club’s shares to Edinburgh millionaire Ann Budge. Not only did that plan fall through -- with the meeting put back to Monday -- but Jackson "was then blanked by the Lithuanians for 48 hours despite attempts to seek an explanation for this latest dramatic twist." Now "fears are escalating that the entire deal to haul Hearts back from the brink is about to collapse," leaving Jackson with no option but "to wind the club up when it runs out of cash in little more than four weeks" (DAILY RECORD, 4/1).
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