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Hearts sponsorship

Date article publshed: 27/06/2013 Read original article >

Hearts

Heart of Midlothian FC statement:

Hearts today took a big step towards financial survival following the intervention of main sponsor Wonga.com. Joining fans and the local community in answering the rallying calls for financial support, Wonga has made a significant cash payment to the club.

Working closely with Trevor Birch from the administrators BDO and Hearts MD David Southern, the digital finance company - which has sponsored the club since the Scottish Cup winning season of 2011/12 - has stepped forward and made full payment for the coming season’s sponsorship early. This fast-tracks the terms of the current deal in order to provide more vital funds while the administrators, BDO, continue to stabilize the club and seek new owners.

David Southern, Hearts MD commented: “Wonga have shown an exceptional and unprecedented show of faith in our time of need

I cannot speak highly enough of how they have worked with us over the term and again when we have needed them most. Throughout, they have made themselves available and been straightforward and speedy to deal with. We are optimistic that their money added to our strong season ticket sales will go a long way to keeping the club going while we look for a suitable buyer.”

The investment they are making dramatically improves our immediate situation, but the speed with which they have moved should provide other corporate partners with the confidence to come forward and help alongside them.”

Darryl Bowman, Marketing Director, Wonga, added: “We are a proud supporter of Hearts, and we want to do everything we can to help during this turbulent period.

“We are making this payment with our eyes wide open. Naturally, there’s risk attached, but Hearts need everyone to pull together. If other commercial partners follow our lead, we are optimistic that the fans and football will get the result we all want - a sustainable and competitive Hearts.”

Trevor Birch added; "We greatly appreciate this early payment from Wonga. They have certainly stepped up to the plate. July is a difficult month for the club in terms of cash flow. Things are tight right now and the financial support from Wonga is a real boost. This vote of confidence together with the incredible reaction from the supporters is giving us more confidence that we can get through this difficult period."

Response by Editor Published: Categories Wonga Football Club Sponsorship

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk