Hearts administration: Cashflow SOS to businesses

Administration-hit Hearts have extended their SOS call to Scotland’s business community.

Tynecastle stadium. Picture: SNS
Tynecastle stadium. Picture: SNS

Around 3,000 of the Tynecastle outfit’s supporters have rallied to the stricken club’s cause after administrators BDO warned they required season-ticket sales to push past the 10,000 barrier if Hearts were to survive until the start of the new Scottish Professional Football League season.

Sign up to our Football newsletter

Now Hearts – who are £25million in debt – have urged the nation’s businesses to snap up corporate hospitality tickets, sponsorship and advertising at Tynecastle for next season. David Southern, Hearts’ managing director, told the club’s official website: “The response to the season-ticket plea has been amazing and will help the club’s cash flow over the next three or four months.

“However, we still need to generate revenue throughout the season to allow the club to prosper and a major factor in that is commercial revenue. Our message to businesses across Scotland is ‘Welcome to Hearts, we’re open for business’. We have some prime advertising positions at Tynecastle which will provide exceptional local, national and global media exposure for businesses. And sponsors and corporate hospitality guests will be part of up to 17,000 people next season enjoying some of the best hospitality in the SPFL’s most atmospheric stadium. I believe we provide a service second to none and I have no doubt any business coming to Tynecastle on a matchday will leave knowing they’ve had exceptional value for money.”

Hearts owe around £15million to Ukio Bankas and another £10million to Ubig. The Lithuanian firms are major shareholders in the club but both are insolvent, although the latter has not had an administrator appointed. However, the club say they are encouraged by the support they have been shown by local companies.