Hearts reject 'undervalued' Massone bid

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EDINBURGH, Scotland (AP) -- Cash-strapped Scottish team Hearts has rejected a takeover bid from former Livingston owner Angelo Massone, saying the bid "undervalued the club."

A statement from the Scottish Premier League club said that current owner "Vladimir Romanov remains willing to discuss the sale of Hearts to anyone with a genuine interest, and ability, to take the club forward."

It added that "bidders will need to provide a financial offer to reflect the value of the club, be fit to run it as required by the Scottish FA and disclose their plans going forward."

Hearts was hit with a "winding-up order" and could be forced out of business because of an unpaid tax bill of nearly 450,000 pounds (about $719,000).

Romanov issued a plea earlier this month asking for "emergency backing" from supporters of the club.