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Scottish Leagues

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Hearts bidders need to come up with more cash

Hearts face the prospect of liquidation unless someone outstrips present offers for the club by millions, administrator Bryan Jackson has warned. Jackson's counterpart looking after the affairs of the club's owners, Ukio Bankas, has said none of the bids received for Hearts are acceptable. And the bank's administrator has warned that liquidation is a possibility.

Rangers governance criticised

The governance arrangements at Rangers have been criticised in the Financial Times.  The Pink 'Un notes that since floating on Aim in December at 70p a share, apart from losing a quarter of its value, it has lost its chief executive and as of last week its chairman and Phil Cartmell, one of the non-executive directors on the board of six.

FT columnist Kate Burgess notes, 'A perusal of Companies House entries suggests that just one of Rangers' non-executives has significant experience as a main board director of a UK listed company.'

Fans set to take over Scottish club

Dunfermline Athletic fans have welcomed the news that they have been named as the preferred bidder to buy their club and its ground. Pars United, who were formed to represent supporters efforts to purchase Dunfermline Athletic Football Club (DAFC), received confirmation from DAFC Limited’s administrators BDO and East End Park Limited’s administrators KPMG.

Scottish league changes finally agreed

The Scottish Premier League and the Scottish Football League have agreed to merge after a marathon meeting. The league structure will remain a top flight of 12 and three lower divisions of 10. There will be play-offs between the top and second tier league.

Scots opt for pyramid

The Scottish FA has agreed to a new pyramid system that allows for promotion and relegation to and from the Third Division. There will be play offs between the bottom club in the Scottish Premier Football League and the champions from each of the Highland League and the new Lowland League.

Among the teams in the Lowland League are phoenix club Gretna 2008, Edinburgh City, University of Stirling and the superbly named Gala Fairydean Rovers. However, the also aptly named Civil Service Strollers are not included.

Hearts administrator gets a boost

Administrator Bryan Jackson is optimistic Hearts will reach the season ticket sales needed to keep the ailing club afloat. Accountancy firm BDO took control of the Edinburgh club last week and set a target of selling 3,000 more season tickets to keep going over the summer.

'Sales started off very well. I understand we got to nearly 500 by yesterday,' Jackson told BBC Scotland. 'This was more than we'd anticipated and it shows the demand is there.'

Hearts had already sold 7,000 season books before entering administration but the money raised through those sales has already gone

Dunfermline fans worried by mystery bid

Dunfermline Athletic supporter group, The Pars Supporters’ Trust has called for the mystery second bidder to buy their club to reveal itself to alleviate growing concerns of the club’s supporters.

Fans group Pars United submitted a bid for the club and the ground (which are separately owned) earlier this week. Talks between Pars administrators BDO and Pars United are expected to resume early next week after it emerged their offer for both the club and their East End Park stadium was unacceptable in its present form.

Texan takeover saga at Dundee FC

The Texan takeover saga at Dundee FC continues. Dundee benefactor Bill Colvin remains hopeful the proposed investment at Dens Park will take place.

On Tuesday, Colvin, who’s already ploughed in a six-figure sum over the past three years, was due in London to meet with American partner Tim Keyes to discuss the latest developments surrounding their £1.5 million plan.

Hearts enter administration

Hearts have served notice of their intention to appoint an administrator. The Edinburgh club have debts of £25m - owed to Lithuanian-based companies formerly owned by Vladimir Romanov - who are themselves facing insolvency.

Last week, the entire Tynecastle squad was put up for sale, with Hearts seeking £500,000 to keep them running over the summer. It means Hearts will start next season in the top flight with a deduction of 15 points. Hearts owe £15m to Ukio Bankas, which has been declared bankrupt.

Hearts crisis deepens

Hearts have been banned from signing any new players by the Scottish Premier League. The club failed to pay some of its players their July wages, incurring a transfer embargo and the possibility of further punishments at a later date. The wages were due on Friday and it is not yet clear how many players have received their pay, or what percentage has been paid.