July 30 – Crisis Scottish club Hearts are teetering on the brink just days before the start of the domestic season while a fans group are attempting to save another Scottish club Dunfermline Athletic.
The administrators looking after the interests of Hearts say the Edinburgh club face the prospect of liquidation unless there is a better offer than the three so far tabled to take over from Ukio Bankas.
Hearts have been in administration since June 19 with debts of around £25 million owed to companies formerly owned by Vladimir Romanov, who first invested in the club in 2005.
Dunfermline’s situation is just as bad. The club received a 15-point penalty for going into administration last season, when they were relegated from Division One – now renamed the Championship – and another 10-point penalty for the forthcoming season will be incurred should they fail to agree a Company Voluntary Agreement (CVA) by August 2. a procedure that allows a company to come to an arrangement with its creditors over the payment of its debtsm usually by paying only a proportion of the amount that it owes to creditors.
Contact the writer of this story at andrew.warshaw@insideworldfootball,com