No deal: Jambos knock back fans’ bid

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By ROBERT MARTIN
Published: 14th November 2012
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HEARTS last night booted out a fans’ group offer for the club — then angrily accused them of trying to get the Jambos on the cheap.

SunSport understands the Foundation of Hearts Ltd, led by Alex Mackie, was willing to stump up the £450,000 needed to pay the club’s outstanding tax bill, due tomorrow.

But in return for that the consortium, made up of several Edinburgh businessmen, wanted owner Vladimir Romanov to hand over his majority shareholding.

The Foundation also requested that parent company UBIG, where Romanov is chairman, write off the club’s £20million debt.

The offer effectively meant they would get their hands on the club for the price of the outstanding bill.

But their proposal was laughed off by the Jambos board, who released a withering statement alleging the group had made an ‘opportunistic’ attempt to take advantage of their financial woes. Hearts insist they ARE willing to pass the club into supporters’ hands if they get the right offer and have opened talks with government-backed Supporters Direct.

But they insist yesterday’s proposal was NOT worth further consideration.

The statement said: “The club received a ‘note of interest’ from businessman Alex Mackie on behalf of a consortium of unnamed business people. The proposal has no consideration of cash for the shares of the club, even if the debt is removed completely, and demonstrates a staggering misjudgement of the value of the club and a worrying lack of understanding of the situation.

“At best it is opportunistic, an attempt to exploit what is a difficult financial situation.

“No evidence was provided on how the club would be operated and resourced after any potential purchase.

“The Board has declined the proposal based on the above and further considerations.

“While the club remains open to genuine offers it will continue to operate with the support of its fan base who are rallying round the current Share Issue and a host of other fundraising events.”

Director Sergejus Fedotovas added: “When we move the club on it will be to the right people at the right time.

“At present we will continue these talks with Supporters Direct in parallel with maintaining the momentum that is gathering behind the club’s share issue and other fundraising activities.

“Together the staff, players, supporters, club partners and political and community groups are already making their mark on the club.

“With their continued support we do believe we can steer through the current financial challenges we face.”