Hearts Fans Agree Purchase as Cash Runs Out, Scotsman Reports

Heart of Midlothian’s majority shareholder agreed to transfer its holding to a group of fans as cash runs out, the Scotsman newspaper reported, citing the financial adminstrator of the Edinburgh soccer club.

The Foundation of Hearts, a group of 7,600 fans making monthly donations, agreed to buy the stake from UBIG for a “five-figure fee,” the newspaper said. UBIG is the Lithuanian company controlled by investor Vladimir Romanov that faced bankruptcy proceedings last year.

Before it's here, it's on the Bloomberg Terminal.