Wallace Mercer
Encyclopedia
Wallace Mercer was chairman of the Scottish football club Heart of Midlothian
from 1981 to 1994.
in 1986
.
Mercer is also remembered for his attempt in 1990 to merge the two major Edinburgh
clubs, Hearts and Hibs
. Mercer reasoned that the Old Firm
had far greater financial power than either Edinburgh club and that the only way to realistically compete was with a united Edinburgh club. Hibs fans suspected that the "merger" was more of a takeover
by Hearts and they strongly resisted Mercer's bid to acquire a majority
share
in Hibs. Mercer was eventually forced to abandon his plans as some key shareholders refused to sell to him, denying him the level of shareholding needed to liquidate Hibs. Sir Tom Farmer
eventually took financial control of Hibs instead.
In 2010, Mercer's widow and children issued a statement to the Edinburgh Evening News
reiterating the reasons for the proposed merger of Hearts and Hibs. The statement also claimed that the increased dominance of the Old Firm
since 1990 had vindicated the proposal.
on 17 January 2006. The timing of his death caused a point of controversy because Hearts' next home
match was an Edinburgh derby
against Hibs.
Heart of Midlothian F.C.
Heart of Midlothian Football Club are a Scottish professional football club based in Gorgie, in the west of Edinburgh. They currently play in the Scottish Premier League and are one of the two principal clubs in the city, the other being Hibernian...
from 1981 to 1994.
Hearts
He is remembered mainly for improving the fortunes of Hearts during the early 1980s. This culminated in Hearts coming within 10 minutes of winning the championshipScottish football champions
The Scottish football champions are the winners of the highest league in Scottish football, namely the Scottish Football League from 1890 until 1998 and the Scottish Premier League thereafter....
in 1986
1985-86 in Scottish football
The 1985–86 season was the 89th season of competitive football in Scotland.-Key events:With Rangers once again failing to mount a title challenge, manager Jock Wallace's second spell as manager ended in April when he was sacked and the club appointed Graeme Souness as player-manager,...
.
Mercer is also remembered for his attempt in 1990 to merge the two major Edinburgh
Edinburgh
Edinburgh is the capital city of Scotland, the second largest city in Scotland, and the eighth most populous in the United Kingdom. The City of Edinburgh Council governs one of Scotland's 32 local government council areas. The council area includes urban Edinburgh and a rural area...
clubs, Hearts and Hibs
Hibernian F.C.
Hibernian Football Club are a Scottish professional football club based in Leith, in the north of Edinburgh. They are one of two Scottish Premier League clubs in the city, the other being their Edinburgh derby rivals, Hearts...
. Mercer reasoned that the Old Firm
Old Firm
The Old Firm is a common collective name for the association football clubs Celtic and Rangers, both based in Glasgow, Scotland.The origin of the term is unclear. One theory has it that the expression derives from Celtic's first game in 1888, which was played against Rangers. However, author,...
had far greater financial power than either Edinburgh club and that the only way to realistically compete was with a united Edinburgh club. Hibs fans suspected that the "merger" was more of a takeover
Takeover
In business, a takeover is the purchase of one company by another . In the UK, the term refers to the acquisition of a public company whose shares are listed on a stock exchange, in contrast to the acquisition of a private company.- Friendly takeovers :Before a bidder makes an offer for another...
by Hearts and they strongly resisted Mercer's bid to acquire a majority
Majority
A majority is a subset of a group consisting of more than half of its members. This can be compared to a plurality, which is a subset larger than any other subset; i.e. a plurality is not necessarily a majority as the largest subset may consist of less than half the group's population...
share
Share (finance)
A joint stock company divides its capital into units of equal denomination. Each unit is called a share. These units are offered for sale to raise capital. This is termed as issuing shares. A person who buys share/shares of the company is called a shareholder, and by acquiring share or shares in...
in Hibs. Mercer was eventually forced to abandon his plans as some key shareholders refused to sell to him, denying him the level of shareholding needed to liquidate Hibs. Sir Tom Farmer
Tom Farmer
Sir Thomas "Tom" Farmer, CVO, CBE, KCSG, FRSE, DL is a Scottish entrepreneur.One of seven siblings in a devoutly Catholic family, in 1964 Farmer founded his own tyre retailing business which he sold in 1969 for £450,000. Farmer "retired" to the United States, but became bored and decided to find a...
eventually took financial control of Hibs instead.
In 2010, Mercer's widow and children issued a statement to the Edinburgh Evening News
Edinburgh Evening News
The Edinburgh Evening News is a local newspaper based in Edinburgh, Scotland. It is published daily . It has a circulation of 68,000 and is owned by Johnston Press, which also owns The Scotsman and many regional titles throughout the UK.Much of the copy contained in the Evening News concerns local...
reiterating the reasons for the proposed merger of Hearts and Hibs. The statement also claimed that the increased dominance of the Old Firm
Old Firm
The Old Firm is a common collective name for the association football clubs Celtic and Rangers, both based in Glasgow, Scotland.The origin of the term is unclear. One theory has it that the expression derives from Celtic's first game in 1888, which was played against Rangers. However, author,...
since 1990 had vindicated the proposal.
Death
Mercer died of cancerCancer
Cancer , known medically as a malignant neoplasm, is a large group of different diseases, all involving unregulated cell growth. In cancer, cells divide and grow uncontrollably, forming malignant tumors, and invade nearby parts of the body. The cancer may also spread to more distant parts of the...
on 17 January 2006. The timing of his death caused a point of controversy because Hearts' next home
Tynecastle Stadium
Tynecastle Stadium is a football stadium situated in the Gorgie area of Edinburgh, Scotland, which is the home ground of Scottish Premier League club Hearts. Tynecastle has a seating capacity of 17,420, which makes it the seventh largest football stadium in Scotland...
match was an Edinburgh derby
Edinburgh derby
The Edinburgh derby is an informal title given to any football match played between Scottish clubs Heart of Midlothian and Hibernian , the two professional clubs based in Edinburgh, Scotland. The two clubs have a fierce rivalry that dates back to the clubs being founded in the mid-1870s, which...
against Hibs.
External links
- Obituary, The HeraldThe Herald (Glasgow)The Herald is a broadsheet newspaper published Monday to Saturday in Glasgow, and available throughout Scotland. As of August 2011 it had an audited circulation of 47,226, giving it a lead over Scotland's other 'quality' national daily, The Scotsman, published in Edinburgh.The 1889 to 1906 editions...