Edinburgh-based Hearts, who said on Monday they intended to appoint administrators but have yet to confirm they have, have suffered the fallout from the financial problems of Lithuanian businessman Vladimir Romanov, their largest shareholder.
"It's a huge club, huge task," Bryan Jackson, one of the joint administrators from BDO, told Sky Sports News.
"I think we all know from the press in last few weeks that we are starting from a negative situation where people haven't been paid, cashflow is negative - it's the worst month of the year in terms of income.
"Right now, there's a really major cashflow problem and we need to look at ways, if any, we can get round that."
"As Heart of Midlothian is subject to an insolvency event, a 15-point deduction will be applied to its total points in the League Championship for next season 2013/14," a league spokesperson said in a statement.
"In addition, Heart of Midlothian is subject to an embargo on registering players with the SPL whilst in administration."
Asked if he thought Hearts were salvageable, Jackson said: "Clubs are always saveable.
"I wouldn't take it on if it wasn't saveable. But that doesn't mean that it will be saved, as we've seen in the past some clubs do not get saved because the circumstances don't come good."
