JIM JEFFERIES admits Rangers’ liquidation two years ago made him fear the worst for Hearts.

And he refuses to get too excited until the safety of his old club is “signed, sealed and delivered”.

The former Hearts captain and manager was thrilled to learn key creditors Ukio Bankas had decided to support the Ann Budge-led supporters’ takeover of the club.

But after enduring a worrying spell of administration as manager of Dunfermline, Jefferies knows hurdles remain for Hearts. He said: “They’ve thrown out a caution that they’re not completely, 100 per cent out of the mire but they’ve saved themselves from liquidation, which is just fantastic news.

“But I feel a bit like I did here at Dunfermline – until it’s done and dusted and signed I’m wary. They still have to cross the T’s and dot the I’s and I hope there are not any last-minute hitches.

“We’ll keep our fingers crossed that they keep to that decision in Lithuania and things are now on the right lines.

“The prospect of liquidation seemed to be very real. As someone who has supported the club and captained the team and managed it, that was something I didn’t want to contemplate.

“However, just take a look at Rangers. Who would have thought Rangers, with all those thousands of season-ticket holders and home crowds of 50,000, would get into that situation.

“What happened is incredible. They’re one of the biggest clubs in the world, never mind Scotland, Britain or Europe.

“And if it could happen to Rangers it could happen to anybody.

“But even though no one can afford to relax until things have been signed, sealed and delivered, it’s a great step forward and great news for Hearts, Edinburgh and Scottish football.”