Alex Salmond says Hearts will survive administration

SCOTT MACNAB
Published on 19/06/2013 09:44

First Minister Alex Salmond today said Hearts will survive its current financial woes and emerge "at the other end of the tunnel."

The SNP leader is a lifelong fan of the Tynecastle club and told a gathering of business leaders in Edinburgh that it was a time of "great anxiety" for staff at the club.

Hearts' parent company UBIG is expected to lodge papers at the Court of Session today indicating the accountancy firm BDO as the Edinburgh club's administrators.

"The situation affects fans like myself," he told the National Economic forum today.

"Heart of Midlothian is a substantial employer in this city. Like other clubs who have gone through this process, it's a time of great anxiety for employees of Heart of Midlothian.

"But other clubs have gone through this process and emerged at the end of the tunnel and that's' what I fully expect Heart of Midlothian to do.

"We've been around for a long time and I expect we will be around for a long time to come."

Hearts have debts of £25million - owed to Lithuanian-based companies formerly owned by Vladimir Romanov.

Last week, the entire Tynecastle squad was put up for sale, with Hearts seeking £500,000 to keep them running over the summer.

It means Gary Locke's team will start next season in the top flight with a deduction of 15 points.

Taken from the Scotsman