Hearts' Jim Jefferies upbeat on challenge to Old Firm
Jefferies returned to Hearts in January with the club about �30m in debt
by Brian McLauchlin and Martin Conaghan
Hearts manager Jim Jefferies insists clubs can challenge the Old Firm in the future, but only if the current downward financial trend continues.
Hibernian had threatened to overtake second-top Celtic until two defeats in a row this week.
"Rangers and Celtic maybe don't spend the money that they spent 10 years ago, but they are still spending more than anybody else," said Jefferies.
"The fact is, as this season has shown, they are a little bit closer."
Hibs could have moved above second-top Celtic had they defeated leaders Rangers on Sunday and followed it up with a victory over St Johnstone on Wednesday.
If Rangers are taken over in the summer and pots of money are invested in top players then it all kicks off again
Hearts manager Jim Jefferies
But Hearts' Edinburgh rivals were beaten 3-0 at Ibrox and then slumped to a 5-1 shock hammering in Perth.
Rangers announced half-year profits of more than £13m on Wednesday, thanks mainly to Champions League involvement, 24 hours after Celtic revealed interim results for the six months to the end of 2009 showing a 22.8% decrease in turnover to £36.11m.
But Jefferies, who returned to Hearts in January for his second spell in charge of a Tynecastle club who are themselves running up a debt of around £30m, believes both sides of the Old Firm will remain the net spenders in Scotland.
And he suggests that, if Rangers attract new ownership and investment this summer, the financial gap could widen again.
"There is the possibility that if things continue as they are then there is a chance they could be challenged," said Jefferies.
"But if Rangers are taken over in the summer and pots of money are invested in top players then it all kicks off again.
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