Cash-strapped Hearts put entire first-team squad up for sale

With a large tax bill and wages to pay the club has released a statement saying they are willing to receive offers for all their players, including their "most promising talent"
Hearts have put every player in their squad up for sale as the Scottish Premier League outfit aim to survive their dire financial situation.

A statement from Tynecastle confirmed the cash-strapped club is struggling to produce the funds to pay off their tax debts and fund player and staff wages.

While admitting the sale of key players could severely impact their fortunes on the pitch, the statement insists protecting the club’s long-term future is the priority.

“Given that the revenues for season tickets has dried up and no other realistic income is available quickly enough, the club will consider offers for the players of the current squad, including the most promising talent in order for the most necessary and important payments to be made,” said the statement on Hearts' official website.

“The board had planned to bring income in through the sale of players while considering the financial forecast for next season but now this will need to happen much earlier in order to preserve the business.

“We understand that this will lead to significant on-field pressure but at all times we must consider the health of the club and preserve it for future generations.”

Major shareholder Ukio Bankas, which holds a 29.9 per cent stake in the club, saw the decision for it to be liquidated upheld by Lithuanian courts yesterday, but bankruptcy practitioners UAB Valnetas insisted they had “no desire to harm the club”.

The club is now urging fans to sign up for season tickets so they can bring in some well-needed revenue.

“The biggest threat to the club at present however is hesitation and inaction,” the statement added.

“We hope that those supporters who have purposely held off will reconsider and make the decision to back the club in the best way possible in order that we can meet our targets.

“Provided we can achieve security for the club, it is the view of the board that there is a viable strategy for the change of ownership to a willing buyer or investor.

“The most difficult part in this is finding an agreement with the creditors, however we know that there is goodwill with Ukio Bankas.”