Get us out of this jam

By ROBERT MARTIN
Published: 24th May 2013
7
SKINT Hearts could brazenly beg their fans for MORE cash to keep the club in business.

Director Sergejus Fedotvas admits the crisis club face a £2.5million shortfall next term as they struggle to stay afloat.

And at yesterday’s AGM he announced plans for a supporters membership scheme in a bid to raise more than half the cash.

The panic measure comes just six months after fans invested over £1million in a share issue.

To add insult to injury Fedotovas went to admit those shares will be worth NOTHING if Hearts enter administration this summer.

But he then went on to claim if the scheme should succeed then boss Gary Locke will have one of the BEST budgets in the SPL.

He told stunned shareholders: “There are two items we have put into the forecast for next season and they are players and the membership scheme.

“The player sales revenue is based on historical data and the existing potential at the club and it amounts to around £1m that can be achieved from player sales.

“The membership scheme that will bring more additional value to supporters is estimated at around £1.5 million of additional revenue.”

He then added: “We still believe it will be one of the top budgets in the SPL next season.”

SunSport revealed yesterday an unnamed US tycoon had bid a pound for control of the club.

But the club’s immediate future is unclear with parent company UBIG on the verge of insolvency.

On Monday Hearts dodged relegation because league chiefs admitted UBIG were not yet bankrupt.

But Fedotovas admits that could well change in the coming weeks.

He said: “The understanding of the board is that UBIG are considering the next steps whether it goes into bankruptcy proceedings or it will recall its state of alert.

“Based on that of course, there may be implications for Hearts in terms of existing rules.