Hearts legend Gary Mackay awaits a vital day in the club's 139-year history
Hearts legend Gary Mackay is preparing for a pivotal day when the troubled club's creditors meet on Friday.
Last Updated: 19/11/13 3:31pm
The Jambos have debts of £28.5m, amassed under the stewardship of Vladimir Romanov, and administrators BDO need 75 per cent in value of the creditors to agree a Company Voluntary Arrangement.
The club's fate lies with Ukio Bankas and UBIG - who hold a combined 79.9 per cent shareholding, and are owed £15.5m and £8.2m respectively - and should a CVA not be agreed then Hearts will enter liquidation.
All-time record appearance holder Mackay is hopeful liquidation can be avoided and fans group the Foundation of Hearts, who have battled to save their club, can begin the process of recovery.
"It's a huge week in the history of the football club," Mackay said.
"It's about putting the mismanagement of this football club to bed and allowing the people that really care for the club, the supporters, to take it forward in a better manner.
"We can look at the relative success on the football pitch but there has been a price to pay for that and hopefully that price will be negated at the end of this week and Heart of Midlothian can regain a bit of pride and can become a dignified football establishment in Scotland.
"It's a massive, massive time."