HEARTS administrators BDO today outlined the importance of an extended League Cup run to bring in more revenue and maintain positive morale.
The restructuring firm are eager for the Edinburgh club to progress past Queen of the South and into the quarter-finals tomorrow night with their long-term future still uncertain. Bryan Jackson, a senior partner at BDO, is tasked with keeping Hearts alive and wants as much income as possible to aid the cause. Reaching the quarter-finals of the League Cup could mean an attractive home tie, whilst a place in the semi-finals would mean a share of gate money from that round.
Although he acknowledged that Hearts’ priority is surviving in the Scottish Premiership following the 15-point deduction for entering administration, Jackson explained why a cup run is also vital.
“A cup run potentially gives us money to keep things going that bit longer, particularly until things are clearer over in Lithuania,” he told the Evening News. “I would think it’s equally important from a psychological and footballing point of view.
“If you stay in the cup, you win the game and it keeps the supporters buoyed up.
“It’s just as important for the club from a football point of view and a financial point of view.
“Whilst the league is always going to be the priority, a cup run is important for everyone associated with the club given what we’re trying to achieve here.
“It’s important for the players and the fans.”
BDO are still awaiting an announcement from Lithuania on who will be administrators for Ukio Bankas Investment Group (UBIG), who hold 50 per cent of shares in Hearts.
A court date has been announced for September 27, although it could then take a further three weeks for a final decision to be made by a judge.
Foundation of Hearts are preferred bidders for the club but must wait for an administrator to be appointed at UBIG before they can acquire the 50 per cent shareholding.
They must also agree a Creditors’ Voluntary Arrangement with bankrupt Ukio Bankas, who hold 29.9 per cent of the shares and are Hearts’ biggest creditor.