Another Club Gone Bust.

Another Club gone bust, hard lines on this guy though, not a case of overspending but bad luck in the current financial crisis.

Hearts owner says he has gone bust.

Hearts owner Vladimir Romanov says the collapse of his bank in Lithuania has led to him losing all his assets.
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Don't really know what's going on in Scottish football at the moment but Celtic and Rangers, and Hibs and Hearts were the big Clubs in Glasgow and Edinburgh in better times.

Guess it could happen to anybody, anywhere.

 

I don;t know if the club has gone bust but there will be a concern now that no more funds will be entering the club from the chairman's pockets.

In fact it may well end up being that the club is the only asset that he has left.

 

Not really going to be much of an asset it would seem.

The SFA are in a bit of a panic, they wont want to see one of the bigger Clubs fold but they don't seem to be in much of a position to do anything to help.

 

I agree, it's a complete mess North of the Border.

If this happened in England would he then fail, after the event, any Fit And Able criteria test now that he's effectively broke? So the SFA have such as test and can they invoke it now? If so, what happens?

Something similar, I believe, happened to Darlington FC and George 'Nice Guy' Reynolds and what happened afterwards to the club wasn't pretty.