Hamilton under threat of insolvency after £250,000 loan debt goes unpaid

Discussions are taking place over the possibility of Hamilton Academicals being placed into administration, with the threat of insolvency, STV News understands.

It is understood that the League One club owes in excess of £250,000 to creditors who provided a short-term loan to ensure that staff and players were paid in December.

It has been claimed that the club has now defaulted on the loan and that the security against it includes all of the club’s assets.

The club’s former owner, Seref Zengin, sold the side to Morely Sports Management (MSM) earlier this month.

Two MSM representatives were appointed to the board at that time.

The Lanarkshire club’s website has been taken down due to the “threat of administration”.

A message reads: “Hamilton Academical FC is currently under threat of administration following a default under its secured lending arrangements.

“The Charge Holder has made repeated attempts to engage constructively and reach an agreed resolution, however matters remain unresolved at this time, including uncertainty regarding the true ownership of shares.

“Further updates will be provided in due course.”

The League One club, which was playing in the Premiership as recently as five years ago, have suffered financial troubles in recent years and posted a £1.8m loss on the club’s latest accounts.

Over the last year, Hamilton has been deducted points and fined the Club for failing to pay HMRC dues as well as player wages, providing misleading information on the ownership of their stadium and other rule breaches, including paying players while under a transfer embargo that said they were only allowed to field amateurs.

Both former owner Zengin and director of football Gerry Strain were deemed not to be “fit and proper” people to run football clubs by the SFA.

Police Scotland confirmed it was investigating fraud allegations at the club made on May 23, 2025.

MSM has been approached for comment.

Hamilton posted on Instagram: “Hamilton Academical FC can confirm that the post visible on the clubs website threatening Administration was not posted by us, but by The Funding Globe (referring to themselves as The Charge Holder).

“Chairman Allan Currie has been in ongoing negotiation with The Funding Globe, but the word constructive has been used loosely. We continue to be open to work on a reasonable basis to find a satisfactory conclusion for all parties.

“If Administration is forced by The Funding Globe, and their preferred liquidators, we will prepare an immediate injunction to prevent this and fight the process on the basis that we highly question the validity of the charge and we are actively seeking advice.”