Future’s NEVER looked bleaker

There have been times when the Gorgie pulse seemed to be fading fast.

Yet somehow, his beloved Jambos have always survived.

This time though, the former Tynecastle chairman knows they are clinging to life.

And Foulkes concedes it has never been so bad.

He told SunSport: “The potential danger is as great as it has ever been. It’s bad and, to be honest, it took me by surprise.

“I’d have thought the board would have seen the way things were going and there would not have been a sudden announcement like this.

“It took me aback, as did the criticism of the fans in the statement. I must say I found that disappointing.

“You couldn’t have more loyal fans. Just think of the £1million-plus they raised at the recent share issue. You get nothing for it. It was basically a £1m donation.

“The supporters have also been renewing season tickets, admittedly not as many as last year, but around 6,500 or so.

“I’ve renewed my season ticket and so has my son.

“If more people renewed then we would not be in such a dire situation.

“But there’s no doubt we’re looking at a difficult time.”

The dramatic reign of owner Vladimir Romanov — the man swept into power in 2005 with the backing of Foulkes — has ended in financial collapse.

Administration now appears inevitable, with wages going unpaid, signing embargoes in place and a points penalty beckoning.

But Foulkes reckons the recriminations can wait and, for now, wants all sides to focus on saving the club.

He added: “We’ve seen a lot over the last few years with Romanov. It was Hobson’s Choice when he came in.

“Plenty of people talked about investing in Hearts, but he was the only one who came forward.

“It’s been a helter-skelter time under him. We’ve had two Scottish Cup victories and we’ve been in Europe.

“He has shown the potential of the club and what might be if we had an owner who would make logical decisions, rather than some of the daft ones he has made.

“Yes, the potential danger is as great as it’s ever been, but so is the potential for going forward.”

Labour veteran Foulkes and current Edinburgh MP Ian Murray — who fronts The Foundation of Hearts — have been working behind the scenes in a desperate bid to attract investment.

So far, prospective bids from America, Scandinavia and closer to home have failed to materialise.

The Lithuanian links, plus too many questions and too few answers, have put off would-be investors.

But Foulkes hasn’t given up hope that Hearts could yet avoid administration.

He said: “If administration comes, we just have to take it and work from there.

“Some people say that it’s inevitable. It’s been suggested to me potential investors are holding off until it happens because they think they will get a better bargain.

“I’d still prefer to avoid it so the club doesn’t lose points for next season. Ten years ago there was a stigma to administration, but now people are used to it. They realise there has been so much tumult in Scottish football.

“Look what is happening to the leagues, and look at Rangers. That was the biggest earthquake of all.”

Gers plunged into administration then liquidation last year before being dumped into Division Three.

Jambos yesterday blamed the loss of cash-rich clashes with Gers for some of their own financial woes.

Foulkes sees few parallels between the Ibrox catastrophe and the crisis at Tynecastle, but he insists the new SPFL will be worse off without the two clubs in its top tier.

He said: “I’ve heard many people say they don’t just hope Hearts survive, they hope they prosper.

“I’m including Celtic fans and even Neil Lennon. I spoke to him at Glasgow Airport the day after the Football Writers’ dinner. He had only positive remarks about Hearts.

“SPL clubs lost out financially by not playing Rangers last season. If they weren’t playing Hearts, too, it would be like a pack of cards.” With no more money coming from Lithuania and season-ticket revenue dried to a trickle, the Jambos have stuck every player up for sale.

But Foulkes still fears that might not be enough to save them.

He claimed: “The quality is there in the squad. Look at Jason Holt, Jamie Walker and Kevin McHattie — they are very good young players.

“But I’m not sure there are the buyers out there with the money to come in for them.

“Even if there are, when you have a fire sale you don’t get what they are worth.

“A combination of fan ownership and a new investor is what’s needed at the club now.

“I truly believe there is still great potential. Outside Celtic and Rangers, we have the biggest fanbase and there is also untapped, undeveloped potential in the stadium.

“We have spoken to people in England, but it is very difficult to get people to make a decision.”