Heart of Midlothian FC today praised the key role played by its supporters after agreeing an extension with HMRC which will allow the club further time to pay an outstanding tax bill and lifts the immediate threat facing the club.
The agreement also ensures that this weekend's game against St Mirren will not be the club's last and eases doubts over future Tynecastle fixtures including games against Celtic on 28th November and Aberdeen on 8th December.
The club has agreed terms that will allow full and final settlement of the outstanding £449,692.04 in two staged payments. Final settlement date will be December 3 2012 and following payments of tax in November and December on time will be essential.
The club also provided HMRC with assurances that the deferred settlement and all future tax payments would be made in a timeous manner.
The decision was also made possible after the understanding of a number of senior first team squad members who offered to defer their November salaries to a later date.
Welcoming the development, Director Sergejus Fedotovas said: "Make no mistake, the fans and players have been instrumental in achieving this extension with HMRC.
"The supporters' efforts have been quite phenomenal. However, it is essential that they continue all their work to assist us in meeting financial targets at the club.
"It is imperative that they continue with this level of backing in the weeks ahead until the Share Issue closes on December 19."
Hearts had received notice of a Petition to Wind Up the company over the outstanding amount with the club given eight days to pay from the public notice being served on Wednesday 7th November and Sergejus added: "We are pleased that we have been granted this extension as it acknowledges the strenuous efforts that are going on to ensure this club continues to contribute to employment, society, community and football in Scotland.
"I also want to acknowledge the support received from political and supporter groups. Their direct action is helping the club through a very important period.
"We have a lot of hard work ahead of us in order to fully rectify our financial position but with further backing and ongoing fundraising by supporters we know that we have a very positive opportunity to create a strong club for the future."
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On HeartsTV today, exclusive interviews with John McGlynn and Darren Murray.