Hearts Financial Situation..

[Hibs90]

Having a wee 'discussion' with a mate and he seems to think that they made a 400k profit last year and they were the only Scottish club to do so. I believe we also made a profit last year?

Not having a clue about how all it is can someone explain to me in simple terms what Hearts current situation is? So how much debt do they actually have? What's the situation with Vlad and them etc?

[PaulSmith]

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Having a wee 'discussion' with a mate and he seems to think that they made a 400k profit last year and they were the only Scottish club to do so. I believe we also made a profit last year?

Not having a clue about how all it is can someone explain to me in simple terms what Hearts current situation is? So how much debt do they actually have? What's the situation with Vlad and them etc?

Made a £39k 'profit' but after a near £7m cash injection from UBIG. Trading loss was horrendous.

I'm sure all the rest is out there on here or Google, nae offence but another thread about their debt

[Kaiser1962]

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Made a £39k 'profit' but after a near £7m cash injection from UBIG. Trading loss was horrendous.

I'm sure all the rest is out there on here or Google, nae offence but another thread about their debt

Cash injection of £7,902,000 resulted in a £39k profit.

[Hibs90]

Tried a Google search but nothing much came up surprise surprise. I'm not trying to get a thread ripping them again but I'm just interested in their situation for the sake of this argument.

[southside green]

dont really care what they do but i have heard TF is already selling parts of training ground to a housing developer. any one else heard this ?

[hibs0666]

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dont really care what they do but i have heard TF is already selling parts of training ground to a housing developer. any one else heard this ?

Aye, every yam knows that this is the case and Hibs don't own East Mains.

[Hibs90]

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dont really care what they do but i have heard TF is already selling parts of training ground to a housing developer. any one else heard this ?

[Hank Schrader]

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Cash injection of £7,902,000 resulted in a £39k profit.

Was not really a cash injection though. It was a write off or "forgiveness" of debt.

[Kaiser1962]

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Tried a Google search but nothing much came up surprise surprise. I'm not trying to get a thread ripping them again but I'm just interested in their situation for the sake of this argument.

Net debt at the end of season 2010 (cos thats whats been published is at £36.1m

They brought in £7,908,000 from PBS trading and "debt forgiveness" of £7,902,000 resulting in a profit of £39k

Without the "forgiveness"they would have lost £7.863m which is much much better than last years loss of £8.634m. Obviously shipping out those high earners making a difference.

Had they made the loss then their debt would have risen to £43.963m which is outside their operating terms.

There is also the £10m dfe swap which will hit the accounts for the season just ended.

[surreyhibbie]

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dont really care what they do but i have heard TF is already selling parts of training ground to a housing developer. any one else heard this ?

[Andy74]

Why does the 40m figure matter anyone? Almost wholly owned so shareholders could accept higher debt limit. Bank part of group so can't be an issue for them.

[jdships]

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dont really care what they do but i have heard TF is already selling parts of training ground to a housing developer. any one else heard this ?

From what I was told by the Civil Engineers at the time EM's was being built this was the long term plan.

Planning permission would be sought to build private houses on a strip of land on the edge of the complex which was not required for development of EM


This came from a chat over a cup of tea with my CE friends and presumed it was correct

[JohnnyHibby]

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dont really care what they do but i have heard TF is already selling parts of training ground to a housing developer. any one else heard this ?

Quality......

Oh and you pay how much rent?

[The Falcon]

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Why does the 40m figure matter anyone? Almost wholly owned so shareholders could accept higher debt limit. Bank part of group so can't be an issue for them.

This appears to be the limit set at one of their AGM's. I would imagine it could be changed pretty easily but, should the worst happen, the finacial authorities may ask some awkward questions of the directors. Could do that now actually.

If it's Vlad's personal wealth then that would be different, but it's not.

[Davy Mac]

No question they are moving money around to fudge their position.

Unsustainable and it will come back to haunt them but Vlad seems to be holding his nerve.