ALEX Salmond fully expects 139-year-old Hearts football club to survive administration and sympathised with the Tynecastle staff who face an uncertain future.
The First Minister and Hearts fans told business leaders in Edinburgh the club – one of Britain's oldest sporting institutions – was a huge part of the city's economy.
His comments follow the naming of accountants BDO to control the Tynecastle club's financial affairs. The administrators of major creditor and part-owner Ukio Bankas had led the appointment after objecting to KPMG being installed in a move that seemed likely earlier in the week.
Mr Salmond said: "The situation affects fans like myself and players, but Heart of Midlothian is a substantial employer in the city.
"Like other clubs who have gone through that process, it's a great time of anxiety for the employees of Heart of Midlothian. One comfort I would have at this time is other clubs have gone through it and emerged at the other end of the tunnel, and that's what I fully expect Heart of Midlothian to do.
"They have been around for a long time and I'm sure they'll be around for a long time to come."
Administration leaves the football club with an automatic 15-point penalty for next season's Scottish Premier League campaign.
The club lodged their intention to go into administration on Monday after failing to pay wages to players last Friday and in the face of a winding-up order because of a partially paid £100,000 tax bill.
The Lithuanian insolvency firm looking after the affairs of Ukio Bankas soon took control of the situation because the bankrupt financial institution is owed £15 million from Hearts, two-thirds of the club's total debt.
Given the bank holds a "floating charge" over the club's assets, including Tynecastle Stadium, its choice of administrator was destined to succeed and the appointment went through without the need for a court hearing.
Gintaras Adomonis, of Lithuanian administrators UAB Valnetas which now runs Ukio Bankas, stated administration was the only option but reiterated his desire to sell the club as a going concern.
BDO is also in control at Fife club Dunfermline, under the direction of Bryan Jackson whose past experience includes similar roles at Clydebank, Clyde, Motherwell, Dundee and Portsmouth football clubs.
Mr Jackson said: "Fans will, inevitably, be concerned about these developments and none of them will have wanted this moment to arrive. We will now undertake an urgent examina- tion of the company's records prior to making any further announcements.
"We are acutely aware of the need for speed in this process given the uncertainty of the last few weeks and the proximity of the season's start. We will be talking to all the parties that have shown interest in the club in order to find a resolution as quickly as possible."
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