Hearts saved from oblivion after striking short-term deal with HMRC over unpaid debt

14 Nov 2012 00:01

THE Tynecastle club will pay back the £450,000 debt over two payments with the final instalment expected to be paid by December 3.

HEARTS were last night hauled back from the brink of oblivion – and handed a three-week lifeline.

In a dramatic twist the crisis-hit club agreed a last- gasp deal with HMRC to allow them to pay their outstanding £450,000 tax bill in two instalments.

Hearts revealed the deal was made possible after a number of senior first-team players agreed to defer their November salaries and the club will now pay the final instalment of the bill on December 3.

The Jambos had until close of play on Thursday to reach a settlement after they had entered into talks on Monday night with HMRC over the tax bill that threatened to send the Edinburgh club over the edge.

Fears were growing that this Saturday’s home SPL clash with St Mirren would be Hearts’ last-ever match.

But Jambos supporters were last night celebrating one of the most famous victories in the club’s history just hours after it was revealed businessmen were still hoping to buy out owner Vladimir Romanov.

A statement on Hearts’ official website thanked players and supporters for helping the men in maroon strike a deal with HMRC.

The statement read: “Make no mistake, the fans and players have been instrumental in achieving this extension with HMRC.The supporters’ efforts have been quite phenomenal.

“However, it is essential that they continue all their work to assist us in meeting financial targets at the club.

“It is imperative they continue with this level of backing in the weeks ahead until the share issue closes on December 19.”

Hearts director Sergejus Fedetovas said: “This extension acknowledges the strenuous efforts that are going on to ensure this club continues to contribute to employment, society, community and football in Scotland.”

Last month, Hearts invited fans to buy shares belonging to majority shareholder Romanov in a bid to raise £2million.

Record Sport understands fans have already raised £200,000 and even club skipper Marius Zaliukas has got in on the act.

He donated his Scottish Cup Final jersey for auction along with a signed and framed Steven Gerrard Liverpool top from this season’s Europa League tie.

Zaliukas bought back the Liverpool shirt for £1000 but his attempt to reclaim his maroon jersey with an offer of £1200 was usurped by a phone bid of £1250.

The Scottish government also welcomed news of the HMRC deal.

Last night a spokesperson said: “We are pleased an agreement has been reached between Hearts and HMRC which allows the club to continue in business while also meeting its obligations to the tax authorities.”

Taken from the Daily Record