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Heart of Midlothian Football Club

RIP 1874 - ?

This page has been written in advance of the death of Heart of Midlothian Football Club. It is a reminder to all clubs of the folly of spending far in excess of your income.

Huge Debt

Hearts currently have a debt not far short of 40 million pounds. Their turnover is around 10 million per year which is two million less than their annual wage bill. It can only end one way - in tears.

There's a great site which looks at the financial side of Hearts impending doom. The guy has looked into the finances of a number of teams including Hibs and appears to know what he's talking about. It's scary reading for any Jambo.

Vladimir Romanov

Vladimir Romanov - "wibble"

Vladimir Romanov

Heart of Midlothian FC had a debt of not much more than 20 million when previous Chairman, Chris "The Pieman" Robinson ditched his plans to sell Hearts' Tynecastle stadium in favour of selling the club to Vladimir Romanov. Since then the debt has near doubled, with no clear plan of how to pay it off. The debt has been taken over by Ukios Bankas, a small Lithuanian bank with a poor credit rating and strong ties to Mad Vlad Romanov. Hearts are in effect paying huge interest payments to the owner of the club. The bigger the debt, the more money he makes.

Hearts' new stand

Romanov has pacified large sections of what can only be described as a gullible support with glossy drawings of a new stand which he proposes to build at Tyncastle at a cost of 51 million. This stand will never be built.

Tynecastle Stadium

Big team, big debt

When Hearts' house of cards finally collapses, their fans will receive little sympathy from other fans in Scottish football. Over the last few years, Hearts fans have been arrogant in the extreme, proclaiming to anyone who will listen that they are the third force in Scottish football, laughably pronouncing themselves the "big team", sticking their heads in the sand and ignoring the club they claim to love being ripped apart.

Updates on the demise of HoMFC

Updates on Hearts impending doom can now be found on the Hibs Easter Road Blog.