....but there's still a tussle at Tynecastle. No Mercer factor in the Glass plan

IAN PAUL

1 Jun 1995

JIM Glass, the man who almost certainly will become the third leader of Hearts inside 14 months, yesterday dismissed any suggestions that Wallace Mercer will be involved in his £4m bid to take over the Tynecastle club, writes Ian Paul.

Glass, a wealthy retired property developer, has had his first contact with the current chairman, Chris Robinson, and the two will meet within a few days to discuss the new investor's plans.

There has been speculation, supported by Robinson, that Mercer was linked with Glass in the proposal that would give an initial £2m to the club to buy players, but the chairman will be assured that this is not the case.

Glass said: "Wallace has said he wants out of football, and he does not figure in my plans for the club."

The prominent Edinburgh businessman, and leading Scottish racehorse owner, faxed Robinson with his proposal yesterday and the chairman replied by phone.

That is the first time the two have spoken, although Glass has talked to vice-chairman Leslie Deans but, contrary to indications that there would be friction, Glass reported all was amicable.

Robinson, owner of Wheatsheaf Catering, bought the major shareholding in the club, along with lawyer Deans, from Mercer a year ago and has been scathing in his criticism of the man who gave the club a high profile for 13 years.

This week he said that fans had been phoning to say that he should have no part of any deal involving the former chairman.

However, Mercer retains 25% of the club and the £1m he left as a guarantee with the bank is up for review about now.

His connection may not be as heavy, but it remains important.

As Glass put it yesterday: "Clearly, as a major shareholder, Wallace Mercer has an interest in what lies ahead for the club."

Glass's initial £2m offer will be followed by a similar sum soon afterwards, but the long-termplan includes an issue with full voting shares.

Hearts held a share issue earlier in the season, but that one was not for voting shares, which proved a desperate disappointment, raising only £300,000, and although the team managed to escape the threat of relegation, only just, the financial status of the Tynecastle club, with its stadium commitments, is not good.

They are £4m in debt and manager Tommy McLean, who was appointed by Robinson a year ago, has made it clear that he does not intend to carry on trying to lift the club's fortunes with bargain basement players.

Mercer, who has been in Scotland on a business trip from his home in Cannes, but was on his way back last night, is staying out of the debate, but there is no doubt that he still takes a keen interest in the club which he bought for £350,000 14 years ago.

The Hearts Shareholders' Association met last night to discuss the new situation, but will wait until they speak to Glass before they make any decisions as to their stance.

Said chairman Alex Knight: "We have read everything about the bid, but we will need answers from Mr Glass before we can form any view."

Taken from the Herald