Scottish professional football club Hearts has been facing a winding up threat last month when it was slapped with a notice to clear all the HMRC dues worth £450,000 within a prescribed time. The club then raised an alarm and asked each of its stockholders to help it to bring it out of a closure danger. Perhaps, it issued a statement last month that read as, “This isn't a bluff, this isn't scaremongering, this is reality. Without the support of fans there is a real risk that Hearts could possibly play its last game on 17 November.” So, club was at the bank of a closure, but fortunately, it could somehow survive by managing to pay HMRC dues in two installments after reaching an agreement for part payments. First installment has already been paid, and second one is scheduled to be paid today. The big question is; how did it mange to club money in a short span of time despite its miserable balance sheet? Let’s understand how sentimental soccer fans are when it comes to their home … [Read more...]