Hearts set for administration

The club today confirmed that it has made a request to the Court of Session for administrators to be appointed.

Hearts announced via their official website today: "Heart of Midlothian plc can today confirm that it has served a notice of intention to appoint an administrator.

"The notice was served at the Court of Session in Edinburgh this afternoon."

If their application is granted, Gary Locke's men will start the new SPL season on minus 15 points.

Top-flight rules state any club suffering an insolvency event will be stripped of 10 points or a third of their previous season’s tally, whichever is the greater.

The news comes just days after the club was handed an immediate transfer embargo by the SPL after failing to pay a number of players' wages for July.

Last week, the club announced that ALL players in the first-team squad were up for sale as they try to meet current payments to HMRC as well as players and staff.

Before that, SunSport exclusively revealed that the Jambos were to be slapped with a winding-up order for an unpaid £100,000 PAYE bill.

Hearts could still be saved by the Foundation of Hearts - a fan group which appears to be the most credible bidder for the debt-ridden Edinburgh outfit.

Reports have suggested that several American parties have shown interest in the club, while a Scandinavian-based group could be set to move in at Hearts.

However, with the majority of the club shares split between Ukio Bankas and UBIG - both formerly owned by Vladimir Romanov - in Lithuania, no potential buyer would be able to take a controlling stake in the Gorgie club.

UBIG's assets have already been frozen by the Lithuanian courts, while Ukio Bankas lost an appeal against liquidation on Wednesday.