Hearts has to pay out interest on loans taken out for various purposes.
The graph below shows that the club has been paying out an ever increasing amount to service its borrowings. Most of the club borrowings are from AB Ukio Bankas.
There are then longer term loans. There is a £3m loan at a fixed rate of 6.49%, a further £9.3m is at an interest rate 1% over the London base rate.
The scale of the interest payments may be better looked at by noting that it works out as roughly £43,000 per week. This was four times the amount being paid by Hibs, and £500,000 more than Rangers were paying. The accounts say that the reduction in debt will have a good effect on these figures, however it would look to be taking it back to 2007 figures rather than 2004 levels.
