Show us your money demand Hearts administrators

The three groups who have made bids for Heart of Midlothian plc have been asked to by the company's administrators.

BDO made the request in an email sent to Foundation of Hearts, a coalition of supporters groups, HMFC Ltd, led by the Peebles businessman Bob Jamieson, and Angelo Massone's Five Stars Football Ltd.

They are believed to have one week to show evidence of their financial backing, and the demand could scupper two of the bids.

Herald Sport understands that Foundation of Hearts have already begun the process of providing proof of funds for their offer of £2m to fund a Company Voluntary Arrangement, funded by the local business community, and a further £3.75m for working capital, provided by fans who have signed up for monthly direct debit payments.

Massone, who was owner of Livingston when they were placed in administration in July 2009, is thought to have made an offer of £4m, but it is uncertain whether or not BDO would consider him a fit and proper person given the Scottish Football Association's guidelines on banning people from being office bearers within five years of involvement at a club that suffered an insolvency event.

The third bid, by HMFC Ltd, was to provide £1.8m for the CVA and £3.2m in working capital. However, there appears to have been a breakdown in the relationship between Jamieson and Club 9 Sports, the American group who were providing funding. Jamieson denied the reports, but Herald Sport understands that he has been trying to raise additional financial backing.

There were further developments for the Tynecastle club yesterday when the SFA revealed that the disciplinary hearing for HMFC plc suffering an insolvency event has been postponed until August 1.

The hearing was originally scheduled to take place yesterday, with BDO's Bryan Jackson having called for the SFA to be lenient, although Rangers were fined last year and Dunfermline received a registration embargo for the same offence.

Taken from the Herald