ONE of the three bids for control of Hearts could collapse after an apparent rift between Club 9 Sports, the American investment company backing HMFC Ltd, and Bob Jamieson, the Peebles-based businessman who set up the company.
A lifelong supporter and former shirt sponsor of Hearts, Jamieson has twice failed in attempts to take over the club, and Club 9 Sports are now understood to be questioning his credibility and considering their position regarding the club, which is under administration.
HMFC Ltd's bid, with backing from the Americans, is thought to include £1.8m for a Company Voluntary Arrangement (CVA) and £3.2m in working capital.
The other parties seeking preferred bidder status by the club's administrators BDO are the fans group the Foundation of Hearts and Five Starts Football Ltd, the company fronted by the former Livingston owner Angelo Massone. The Italian lawyer led Livingston into administration in the summer of 2009 and his hopes could founder if BDO present him to the SFA for a "fit and proper" person test.
The FOH's are thought to have bid £2m for a CVA and £3.75m in working capital, which will be financed by a monthly direct debit scheme involving nearly 6000 fans.Massone is thought to have tabled a £4m offer.
Last Friday was the deadline for tenders and the joint-administrator Bryan Jackson said it would be around "three-to-four weeks" before a preferred bidder was announced.
The preferred bidder would then have to strike a CVA deal with Hearts' main creditors UBIG and Ukio Bankas, the Lithuanian companies who are owed a combined £25m and are themselves in financial trouble, with UBIG expected to join its parent company Ukio Bankas in appointing an administrator imminently.
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