Tynecastle

By FOS Editor
August 15 2011

Hearts and Celtic have both made announcements which show the changing financial fortunes of Scottish Clubs.

Hearts were threatened with administration this afternoon by the Advocate General forScotlandgranting HMRC the right to serve the admin order on the club. But the club have insisted that the outstanding tax bill will be paid in full on Tuesday following this threat.

But a Hearts spokesman told the BBC: "The situation is under control, the amount will be paid in full tomorrow."

Celtic produced a set of interesting full year financial results despite their turnover falling by almost 15% they recorded a small profit of £102k and reduced their bank debt to only £530k.

The reasons for the reduction in turnover have been put down to the reduction in European matches and the ticket and broadcasting revenues they generate. Also a decline in merchandising sales due to a difficult retail market.

If two of our bigger clubs are struggling in tough financial times, how much more difficult must it be for the others lower down.

This follows hard on the heels of the announcement of the latest PriceWaterhouseCoopers football survey showing all of the SPL sides were struggling as crowds dropped across the country.

Maybe it shows the clubs need to come up something more imaginative to get clubs back into the grounds and getting the revenue up.