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Jammy dodger probe


Exclusive
By ROBERT GRIEVE
Published: 15th May 2013

SPL rivals have demanded answers over Hearts’ financial plight.

The call for ‘clarification’ has come amid suspicions that Jambos have dodged the drop by hushing up the true extent of their cash crisis.

SunSport can reveal FOUR clubs have written separately to SPL chiefs asking for guarantees over Hearts’ immediate future.

They are concerned after Jambos owner Vladimir Romanov saw his Ukio Bankas empire collapse with massive debts of around £380million.

And they suspect the Tynecastle club of delaying an announcement that they are set to plunge into administration — thereby avoiding relegation.

The Gorgie club are around £25m in debt — with £15m of that secured by Tynecastle Stadium and now controlled by the Romanov bank’s administrators.

Hearts’ Edinburgh-based chiefs, however, are comfortable they have got nothing to hide.

They believe there is a clear distinction between the crashed bank and their holding company UBIG.

However, the suspicious clubs have questioned whether they have breached Rule A6.12 relating to insolvency.

That would mean the Jambos could immediately be hit with a 17-point penalty that would see them relegated instead of Dundee.

The suggestion from the clubs is that Hearts are holding off on announcing the full extent of their cash crisis until the end of the season to avoid that scenario.

If they plunge into administration after the season is over they would instead be docked points ahead of next season in the top flight. But it has also been pointed out that rumours have been circulating for weeks now that Hearts have already appointed a Glasgow-based firm of administrators to come in.

In reply to the demand for a thorough probe, SPL secretary Iain Blair tried to allay fears.

But SunSport understands league chiefs are keeping a close eye on developments at Tynecastle and in Lithuania.

The clubs, though, are understood not to be completely satisfied with the response they received and want the matter to be looked at by the SPL board.

That can only happen if Blair and chief executive Neil Doncaster recommend an internal investigation.

But that will NOT happen unless UBIG fold.

The situation was initially brought up three weeks ago — before Dundee drew with Aberdeen to lose their fight for survival on the pitch.

Now the ongoing concerns surrounding Hearts off the park could hand them a reprieve.

The news has emerged as SPL clubs prepare to meet at Hampden on Monday to finalise league reconstruction plans which have been dragging on for seven months.


sun


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