Hearts share issue deadline passes

Hearts have yet to announce how much they have raised from their latest share issue after the deadline for fans to subscribe expired.

The cash-strapped Scottish club looks likely to fall short of its £1.79m target, even through supporters were purchasing shares up until the 5pm deadline on Wednesday.

Hearts confirmed one week ago that they have raised more than £800,000, but the club faces a winding up order if they fail to secure the necessary funds, PA reports.

The club warded off liquidation earlier this month by footing a £450,000 tax bill. It also settled a dispute with Her Majesty's Revenue and Customs by agreeing to pay £1.5m over a three-year period.

Players voluntarily deferred their wages last month but have now been paid in full, leaving the club with an estimated deficit of £1m.