Celtic manager Neil Lennon has bemoaned the possibility of Hearts being relegated from the Scottish Premier League due to financial woes.
The Tynecastle club's parent company, Lithuanian investment group UBIG, asked to be declared insolvent earlier this week citing an inability to "meet (their) obligations".
That could lead to an 18-point deduction for Hearts which would see them relegated to the First Division, a situation which saddens Lennon - especially given the ongoing absence of his side's Glasgow rivals Rangers.
"We would be losing probably the third biggest club," he said. "We have already lost the second biggest (Rangers) so it doesn't look good.
"It is a pretty sad situation. It is a great club with a great tradition and this time last year they were in a cup final.
"I don't know, the powers-that-be will maybe have contingency plans in place. I don't know if another club will be promoted, Morton maybe, I don't know. I only became of aware of the serious nature of it late last night.
"I don't have a crystal ball, I don't know what sort of damage it will do to the SPL, but there will be an outcry.
"Hearts have a decent support for a club in Scotland and to lose that would be pretty damaging."
The SPL board are set to meet on Monday in order to discuss the Edinburgh outfit's future.
