Hearts to stay in SPL but face 15-point deduction

The board left itself the option of reconsidering the situation in the unlikely situation of further evidence being unearthed about UBIG’s current standing in Lithuanian law. Crucially, however, if it were to have an effect on this season’s league table, that evidence would have to relate to events which occurred before the last SPL fixtures were played at the weekend. Under rules adopted last summer, Hearts would be docked a third of last season’s points total of 51 (the figure of 17.3 would be rounded up to 18) if they or a parent company were deemed to have become insolvent before the end of the season. If applied earlier today, such a penalty would have sent Hearts below Dundee and into the First Division. But, while the Edinburgh club have won that fight, they appear sure to be unsuccessful if they argue that UBIG is not their owner or operator. Although the SPL have stopped short of stating bluntly that a future insolvency event for UBIG would automatically mean that Hearts were also insolvent and therefore faced a points penalty, league chairman Ralph Topping left no doubt that such a development would be extremely serious for the club. Having finished this season on 44 points, Hearts will be penalised 15 points if at any point between now and the end of next season they are ruled to have become insolvent.

A brief statement released by the SPL in mid-afternoon said simply: “The SPL board met today to consider reports from Lithuania in respect of Ukio Banko Investicine Grupe (‘UBIG’). The board are not satisfied, on the basis of information currently available to it, that an insolvency event (as defined by SPL rules) occurred in respect of UBIG during season 2012-13.”