THE last rallying call for Hearts fans to come forward to save the club was made yesterday as four players and 14 backroom staff were axed.
Administrators said yesterday the staff have not been paid and the remaining 24 players are likely to have to take a pay cut, with the outlook "bleak".
They need to raise more than £500,000 in two weeks to see the club through the next four months.
If a high offer is made on a big-name player that would be considered, administrators BDO said at a press conference at the Edinburgh club's Tynecastle ground.
The administrators called on fans to buy the remaining 3000 season tickets to raise £800,000 that would cover an immediate £500,000 operating cost shortfall to keep the club viable for the new season while a buyer is sought. Four backers have shown an early interest.
Players will be contacted and told who is going over the next two days.
Two youth and two senior players will be the first to leave.
BDO will meet with the Scottish Football Association and Scottish Premier League today.
Bryan Jackson, business restructuring at BDO LLP, said: "It is as desperate as anything I've seen."
Some 7000 season tickets have been sold but the money has been eaten up in the running of the club. The administrators said "there was literally no cash in the bank at all".
The 139-year-old club applied to go into administration with debts thought to be around £25 nillion, and the whole 131 staff are facing an uncertain future.
A winding-up order over an unpaid £100,000 tax bill came shortly before the move into administration.
Mr Jackson said: "It really is a last rallying call to save the club.
"If the fans don't in the next week bring in money – they normally buy 10,000 season tickets – then there's a strong signal they've had enough, or they just don't have the money."
Tickets cost between £280 and £440 for an adult.
Mr Jackson added: "I believe if the fans rally round and support the club then we should be able to prevent any further redundancies and keep the team together.
"I would urge fans and the wider community to get involved. If you already have a season ticket then you could consider buying a further season ticket for family or a friend."
Fans rued the prospect on social network sites, with one saying: "3000 season tickets in two weeks is a big ask, especially as a lot of the 'diehards' will already have renewed. I hope and pray we do it.
"Time for the fans, once again, to dig deep and rescue the club. Harsh reality."
The four interested parties are all based in the UK and the administrators have had held initial talks with two of them.
Mr Jackson also offered encouragement to the Foundation of Hearts that its fan takeover model had a chance of succeeding. The fans' organisation buyout was described as "definitely achievable".
In an earlier statement, the Foundation said: "We want to see Hearts survive and prosper through fan ownership, and ultimately it will be up to Hearts fans worldwide to decide if they want to go down that road or not."
Under its plans: "All members of the Foundation will effectively be joint shareholders of the club. This will enable Hearts supporters – as members of the Foundation – to vote on the future membership of the Foundation board and to put themselves forward as one of the fans' representatives on that board."
Administrators will also be dealing with Lithuanian shareholder UBIG, the flagship of [former Hearts owner] Vladiimir Romanov's collapsed empire. He still may face charges over his business dealings.
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