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Another Bid For Hearts
They say there is no interest in buying into football but there is always somebody willing to pay for the thrill of ownership
A UK-based consortium made up of six wealthy businessmen has put in a takeover bid for Hearts. Their proposal includes a draft Creditors' Voluntary Arrangement to help the Tynecastle club out of administration. Administrators Valentas UAB of Ukio Bankas in Lithuania have indicated they would accept the CVA. As is often the case, the people behind the bid wish to remain anonymous for now, but are fronted by Edinburgh businessmen Stephen Paterson and Fraser Kerr of Haines Watts accountants.Paterson said: "We are acting for clients who don't wish to be named at this moment but they are Hearts-minded. The bid is for everything, it's not about splitting the ground from the team or anything. We want the club, the players, the ground, everything. The Lithuanian administrator has indicated he will vote for our CVA, albeit with a 15-point penalty for Hearts for entering administration. It is up to the administrator at Hearts to go through that process. Our bid is predicated on a CVA happening."
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