The killing of Gorgie

But there are mounting fears the plug could finally be pulled.

This morning the 139-year-old institution looks ominously on the brink of taking its final breaths.

Vladimir Romanov’s nine-year spell as owner has been a potent mix of triumph laced with trauma.

Yet yesterday’s dramatic early-morning club statement that ALL players are for sale, signalled the ultimate tragedy could be just around the corner.

Jambos sources claim the seriousness of the club’s plight can’t be overstated.

Confidence remains they can settle an outstanding £100,000 tax payment to stave off the latest threat of a winding-up order by early next week.

But beyond that, there is simply no money left. The club is already £25million in debt as its Lithuanian parent company fights for survival.

No regular income through June and July — and season ticket sales down 20 per cent on estimates — mean the coffers are empty.

That is why when Hearts players check their bank balances this morning their wages won’t be there.

Other club staff face the same bleak scenario on their payday next week.

Hearts’ survival and still having their jobs when the new season starts is what they all pray for.

By then, Hearts will at least be able to call on TV money and ticket sales to meet their wage bills.

But those days must seem so far away for them and the long-suffering fans today.

In recent seasons they have grown used to seeing their club blighted by cash woes.

Never, though, have they been as critical Administration, even extinction, could be imminent.

Insiders insist these aren’t scare stories.

A six-figure sum is urgently needed if they are to have any hope of turning things round.

Director of Football John Murray has been tasked with generating interest in the club’s remaining assets.

But Jambos chief executive David Southern says the club’s stars won’t be flogged on the cheap.

He said: “First and foremost we need to look at Heart of Midlothian Football Club as a business. One of the main revenue streams for a football business is through transfer incomes. As such, we’ve put the notice out.

“If there is any club prepared to make realistic offers — and I must stress they would have to be realistic, we wouldn’t sell any player for next to nothing — then we would sell.

“We’ve got some of the best young players in Scotland, if not the UK, and certainly they will attract interest.

“We want to hold on to them but if needs be and we have to sell then we will. But only at the right value.”

Yet the Jambos’ problem is their squad has few stars left who they could demand top dollar for.

Clubs interested in starlets like Jason Holt, Kevin McHattie or Jamie Walker would be buying potential while Jambos would be unlikely to hold out for big fees for more experienced players like John Sutton and Ryan Stevenson.

The contract offer to Andy Webster will surely be taken off the table too.

The irony is Jambos are once more looking to their fans to dig deep just months after they bailed them out by raising £1m in December.

Yet after yesterday’s statement, those supporters have no idea what they will be buying into or where their money will go.

The difference this time, however, is that there will be no more pleas about their situation.

Yesterday’s warning speaks for itself.

The Jambos owned up to their problems just 24 hours after a court in Lithuania upheld a decision to liquidate Ukio Bankas.

The club owe the bank £15m — but the administrator said he had “no reason or desire to harm” Hearts.

Southern said: “It’s a bad place.

“We’re just going to have to try to get through the situation and reach the start of the season when the income streams will hopefully start flowing again.

“Most of the season-ticket money already collected is accounted for. We always knew there was going to be a dry spell through June and July.

“That happens during the summer, but projections did not foresee this.

“The uncertainty has really affected our own sales and budgets that were forecast.

“Season ticket sales are running at 20 per cent less than a conservative estimate for season-ticket income. I can absolutely understand why fans are holding back. No one would try to force the hand of a supporter to buy a season ticket, merchandise or hospitality. We’re not doing that.

“All we’re doing is letting the support base know we could do with their assistance, we could do with their support out of season to help us make it to the new season.

“The key thing is to make sure the club moves forward unscathed. That’s what we’re trying to do.”

Corporate sponsors say they will continue to back the club but a fan-backed takeover being pieced together by the Foundation of Hearts could now be the Jambos’ last hope.

American interest revealed by SunSport last month is still live.

Southern added: “I would expect if there are any potential bidders out there they will be looking at the current situation.

“It may affect their strategy on when they might come in.

“I keep saying ‘potential’ and ‘might’ because, as yet, no bid has been received for the club.”