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Hearts agree to pay back 1.5M pounds to tax authorities

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The Canadian Press
12/4/2012 8:58:45 AM
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EDINBURGH, Scotland - Hearts has agreed to pay back 1.5 million pounds ($2.4 million) to tax authorities over a three-year period, securing the future of the Scottish Premier League club.

Club director Sergejus Fedotovas says "we are satisfied that this resolution provides the club with an opportunity to now move forward with certainty."

The deal comes one day after Hearts reached a separate agreement to repay a 450,000 pound ($725,000) tax bill.

Last month, the Edinburgh club announced that it could be forced out of business because of financial problems stemming from the loan of players to Hearts from Kaunas FC, owned by Hearts majority shareholder Vladimir Romanov.

Soccer Ball (Photo: The Canadian Press)

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(Photo: The Canadian Press)
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