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Hearts have by the close of play today to settle there £100k with the tax man. We all know, as do the SPL and probably the tax man, that they do not have this money to settle the bill today. They haver begged there fans to buy season tickets early to get money in to help settle this bill, if this is the case what of the future?

Hearts have said many times that they are now self sufficient then if that is true why do they need the season ticket money in earlier to settle this bill? How will they pay there bills including the tax during the season if they have spent there money before the season starts?

My thoughts are that the HMRC will let them pay up yet another tax bill to keep the going and then allow them to pay up the next one when it appears at their door step.

Where is the fairness in this when we were accused of letting down the country by not paying PAYE by all and sundry yet for the 3rd time this excuse of a club have done exactly that and not one word of condemnation from the press or media or the SPL. Lokks more and more like one law for Glasgow Rangers and another for every one else.

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I think they will get a surprisingly hard time if they fail to come up with the cash.

They were on a last warning, so I would expect HMRC to take a hard line.

The big question is when will the SPL/SFA take action ?

I won't hold my breath.

How are Hertz allowed to sign players they can't pay ?

The authorities are about to see their schemes used against them.

They won't like that.

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If I'm not wrong, failure to pay this unrelated bill, renders the £1.5 million bill they had an agreement to pay in instalments, due immediately. That's a lot of money for a club that has sold it's season tickets already (they went on sale in March by the way) that money is spent. There is also the little matter of Junes wages due in a week.

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I think they will get a surprisingly hard time if they fail to come up with the cash.

They were on a last warning, so I would expect HMRC to take a hard line.

The big question is when will the SPL/SFA take action ?

I won't hold my breath.

How are Hertz allowed to sign players they can't pay ?

The authorities are about to see their schemes used against them.

They won't like that.

That is a good point, what has happend to sporting integrity. We got abuse for signing players we could afford.
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they'll pay in instalments and get away with it.

They already owe £500k at the start of every season for next 3 years. How do they expect to pay that off when the likelihood is they dont bring in that kind of cash? I doubt they have any players worth that much either

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Watch this space the SPHeL will help.

They will say our dishonest actions nearly destroyed the Scottish game.

They will make some naff announcement saying that a one of gesture is needed for the survival!!

Again we will be made to look bad and the press will Run amok...lol

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I've got nothing strongly against Hearts the club, but all the Lithuanian/Russian involvement and the Romanov regime has had me suspicious for years. The same thing is now happening with Udinese and Watford - Udinese's owners bought Watford, and loan them loads of Udinese players. If this is allowed to continue people like Abramovich will own 10 clubs, and loan players from the best club to second best club, second to third, etc. Would be farcical.

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Any updates?

there's the Scandinavian consortium who are working with FOH and expect to make an offer "within a fortnight"

They will buy Tynecastle and a seperate entity will run the footballing side at a profit or break even

sounds like the seperate companies the tims are using to hide their debts

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Hearts: Edinburgh club put squad up for sale amid financial crisis

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Hearts will listen to offers for their entire first-team squad in an effort to keep the club afloat.

The Edinburgh club said it was the result of other revenue "drying up", with season ticket sales about half what they were last year at this time.

Managing director David Southern told BBC Scotland it is doubtful they will be able to pay players' wages that are due at the end of this week.

Hearts need to raise a "significant six-figure sum" before the weekend.

The club faces uncertainty with a debt of £25m - £10m of which is due to their parent company, UBIG, which is claiming insolvency.

The board had planned to bring income in through the sale of players while considering the financial forecast for next season, but now this will need to happen much earlier in order to preserve the business”

Hearts statement

And the club owes £15m to Ukio Bankas, which has been declared bankrupt .

Hearts' majority shareholder, Vladimir Romanov, who claims to have spent £60m on the club, is seeking a buyer for the Scottish Premier League outfit.

In a statement, the club said: "It is now crucial to the football club that we find a solution to bring in enough finance to allow us to trade into the new season when normal trading can resume with the benefit of SPL and game-related income streams.

"The payments to HMRC and players/staff salaries are the most important issues in our focus these days where very limited time remains available to the club.

"However, given that the revenues for season tickets has dried up and no other realistic income is available quickly enough, the club will consider offers for the players of the current squad, including the most promising talent in order for the most necessary and important payments to be made."

Hearts have had assurances from the administrator handling Ukio's liquidation that he wishes to keep the football club as a going concern.

_68161533_david_southern_130612.jpg

Interview - Hearts managing director David Southern

However, the club says the resulting uncertainty has led to the club's main source of revenue in the close season - the sale of season tickets - drying up, with around 6,500 being sold so far, leading to problems inpaying debts owed to HM Revenue and Customs .

"Due to recent unexpected circumstances away from Tynecastle, the club is now experiencing a shortfall in funding," said the club statement.

"This shortfall, due to recent uncertainty, has created a significant noticeable blockage in projected revenue streams for the club.

"While this hesitation is understandable, it is unwittingly damaging the club's current efforts to improve its financial situation, including current payments to HMRC and raising doubts over future payments to players and staff.

"The board had planned to bring income in through the sale of players while considering the financial forecast for next season, but now this will need to happen much earlier in order to preserve the business."

Hearts say the financial problems have resulted from their worst league finish in more than 30 years, the absence of Rangers from the SPL and increased costs relating to the Main Stand.

"Provided we can achieve security for the club, it is the view of the board that there is a viable strategy for the change of ownership to a willing buyer or investor," they add. Latest off BBC website today

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