Tuesday 26 September 2017

Hearts must kick off with 15-point penalty

Hearts will begin next season with a 15-point penalty after major creditor Ukio Bankas succeeded in installing its preferred administrator in charge of the club.

But the major battle for survival will take place off the park as BDO looks to negotiate the club out of a £25m deficit.

Ukio Bankas, which is itself bankrupt, and joint-administrator Bryan Jackson both stated their intention to secure a quick sale after yesterday's appointment spelled the end of the self-destructive Vladimir Romanov era.

But Jackson warned of a cash-flow crisis and admitted job losses were inevitable.

Irish Independent

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