Hearts to Enter Administration

Scottish Premier League (SPL) team Hearts have made the first step to entering administration by approaching accountancy firm KPMG.

Hearts were last week served with a winding-up order over an unpaid £100,000 tax bill and their majority shareholder UBIG, which owns a 50% stake in the club, and Ukio Bankas, who own a 29.9% share in the club, are to be declared insolvent.

The Edinburgh side also failed to pay their players on time and were hit with a transfer embargo.

Administration now seems inevitable and a Hearts spokesman said: “We are not in administration yet but we have served our intention to appoint administrators.

Michael Stewart, who played around 100 games in midfield for Hearts told Sky Sports News: “There’s a certain level of inevitability that administration was coming sooner rather than later.

“There’s a lot of excess surrounding the club and a lot of staff may be lost.

“The club needs to clear the decks. It’s well documented the club is saddled with a huge amount of debt.”