Scottish club Hearts headed into administration

Scottish club Hearts is set to go into administration after falling into financial trouble.

Hearts says in a brief statement that a "notice of intention to appoint an administrator" was served at a court in Edinburgh on Monday.

The club, which has debts of 25 million pounds ($39 million) and has been threatened with legal action over an unpaid tax bill, announced last week that it was "experiencing a shortfall in funding" and will listen to offers for the team's best players.

Hearts was also placed under a transfer embargo.

The team finished 10th in the 12-team Scottish Premier League last season, was put under a transfer embargo in 2012 after failing to pay a tax bill.

AP