Hearts have told their fans they are doing everything possible to trade normally as fresh concerns over their financial future surfaced.
Rumours have been circulating in recent days that the Edinburgh outfit are set to plunge into administration over debts to Ukio Bankas Investment Group (UBIG) and Ukio Bankas, although club officials said it was “business as usual”.
Any administration could throw bottom club Dundee an unexpected lifeline in the SPL, as the Jambos would be hit with an automatic deduction of 17 points as per SPL rules regarding insolvency at clubs.
However, a Hearts statement aimed to calm administration fears although club officials have not denied that administration is still a possibility.
“It should be noted that Hearts has not required or received additional funding from UBIG or Ukio Bankas in over a year and is servicing its existing debt,” the statement read.
“The club is completely up to date with player salaries and taxes and the club continues to head towards operational self-sustainability.
“This has been made possible by reducing operating costs while continuing to focus on increasing revenues through season ticket sales, match ticket sales, merchandise, hospitality and sponsorship.
“While the general economic and Scottish football marketplace conditions remain challenging, Hearts is focused on meeting its requirements as a business and a football club.
“The club’s health and viability continues to be dependent on successful player identification, development and trading, careful cost control and building revenues.
“With the continued support of the Heart of Midlothian fanbase, the club has an opportunity to continue stabilising and then building for the future.”
Hearts sit 11 points ahead of Dundee in the table but would be thrown into a relegation battle if administration takes place in the next few weeks.
Were Hearts to suffer administration after June 1, it is understood the Edinburgh club would remain in the SPL although they could be deducted points for next season’s campaign calculated from a percentage of their total from this season.
* Roy Martin QC has been appointed to oversee the independent investigation into former Rangers owner Craig Whyte’s claims of links to the club.
The Ibrox board commissioned the probe after Whyte alleged he was involved with the Charles Green consortium’s acquisition of Rangers’ business and assets last summer.
Whyte was at the helm when the club was forced to call in the administrators in February 2012, before failure to secure an agreement with creditors saw the Glasgow giants consigned to liquidation.
Green has denied any wrongdoing but resigned from his position as chief executive with immediate effect last month amid the “negative publicity” generated by Whyte’s claims.