Hearts ask fans for 'emergency backing' amid threat of liquidation

• Edinburgh club say game against St Mirren could be the last
• 'This isn't a bluff, this isn't scaremongering, this is reality'

Ewan Murray

Hearts have issued a desperate plea to their supporters to provide "emergency backing" to the club, along with an admission the Edinburgh side could soon be closed down.

On the same day Hearts admitted they had been served with a winding-up order by Her Majesty's Revenue and Customs over a £450,000 tax bill, the club's board painted a bleak picture of the current financial plight.

Hearts, who are owned by the Lithuania-based Ukio Bankas Investment Group, had last reported debts of £24m. They have recently launched a share issue, aimed at raising £1.79m to bridge a shortfall in funding.

The statement from the Hearts board urged supporters to buy shares, for a minimum £110 payment, and tickets for forthcoming matches.

It said: "Without the support of fans there is, as we issue this note, a real risk that Heart of Midlothian Football Club could possibly play its last game next Saturday, 17 November against St Mirren. This isn't a bluff, this isn't scaremongering, this is reality.

"Discussions on whose name is above the door, talk about how the money has been spent and debate on whether the investment in silverware has been appropriate is all natural but quite simply worthless at this moment in time. The only valid debate now is how can you help the club. Is the club worth less than £110?"

In pointing to an administration or liquidation scenario, as Scottish football has already witnessed at Rangers, the statement said: "Without your help now, we could be entering the final days of the club's existence. There are limited options for the board of directors to take to avoid the catastrophic consequences that a funding shortfall would mean for the club.

"In a footballing sense alone Hearts will suffer an immediate 17-point penalty. This would just be the start of a painful process that will affect every one of us and could lead to far more damaging actions that threaten the very existence of the club.

"The power is still in the hands of every Hearts supporter and for that reason we want to be as honest and transparent with you in the hope that you, too, believe that this club is worth saving."

Hearts stated they hope to agree a repayment plan with HMRC over the £449,692.04 which raised the winding-up petition. Hearts are due to challenge HMRC in a separate tribunal over a £1.75m bill, which relates to the level of taxes paid by a batch of players when on loan in Edinburgh from the Lithuanian side FBK Kaunas.

Taken from the Guardian/Observer