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Foundation of Hearts to collect first fans’ cash

Foundation of Hearts chairman Ian Murray MP. Picture: SNS

Foundation of Hearts chairman Ian Murray MP. Picture: SNS

  • by DARREN JOHNSTONE
 

THE Foundation of Hearts will today set the wheels in motion for what they are billing as the greatest supporter movement in Scottish football history.

The fans group bidding to take over the administration-hit club will withdraw monthly direct debits – ranging from £10 to £500 – for the first time from 7,500 supporters who have signed up to the scheme.

Should the Foundation reach a Company Voluntary Arrangement (CVA) with Hearts’ creditors, namely collapsed Lithuanian companies Ukio Bankas and Ubig, they plan to use the cash as working capital. Edinburgh business (Bidco) have already stumped up money for a CVA offer in the region of £3 million.

Foundation chairman Ian Murray said: “On Monday, the start of a process to begin the greatest supporter movement in Scottish football history gets underway with the first UK direct debits drawdown by the Foundation of Hearts.

“If you have signed up I simply say, ‘Thank you. Because of you this adventure begins’.”

 

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