Scottish Sun claims Hibs on brink of administration

[BroxburnHibee]

This quote is hidden because you are ignoring this member. Show Quote

I should know by now not to believe a word this rag says but surely this cannot be true? With the assets that Hibs own that they could sell or take a mortgage out on to release cash I refuse to believe this can be true. Thoughts?

This quote is hidden because you are ignoring this member. Show Quote

Just read the report, mentions us as one of four clubs in 'financial peril' along with 'Well, Hearts and Dundee Utd. I take it as nowt more than the usual scaremongering from these idiots.

This quote is hidden because you are ignoring this member. Show Quote

I've got the paper and can't see the story?

Can anyone confirm this 'story' as definitely being in this rag?

[nonshinyfinish]

This quote is hidden because you are ignoring this member. Show Quote

The Sun can **** off.

I 100% hope that not one club, including Hearts, goes into administration whilst the huns are off on their 'adventure'. That would show up this scaremongering for what it is.

I'd be willing for their scaremongering to be lent a small degree of credence by Hearts' financial implosion.

[lyonhibs]

This quote is hidden because you are ignoring this member. Show Quote

I'd be willing for their scaremongering to be lent a small degree of credence by Hearts' financial implosion.

It would be a dull yin to take, but a maroon free Edinburgh would be worth it, and would make my phlanx of Hun mates' inevitable crowing about "We told yeez so" more than tolerable.

[NAE NOOKIE]

I'm sure the story is a load of p1sh.

As far as Hibs assets go ..... I'm sure that ER a two minute bus ride from the hub of Scottish decision making and power is worth a lot more than say Ibrox.... a two minute bus ride from ..... well no very much really.


But ...... based on the theory that even a broken clock is right twice a day there is still an answer to the problem.


Pay to watch some games folks.

[VickMackie]

This quote is hidden because you are ignoring this member. Show Quote

Pish.

They're getting desperate...

Exactly.

This story is pish but you do realise its the end of the world!

[Tyler Durden]

Although its hyperbole, I don't think the actual wording is too inaccurate.

It says Killie are on the brink of administration which is no shock. It then says Well, Hearts, Hibs and Utd are in a perilous financial state. Although each team have very different circumstances, that's not an unfair comment IMO.

Although we're undoubtedly solvent from a Balance Sheet perspective, we'll definitely have had challenges meeting our interest commitments in recent years, we're expected to report a 3rd consecutive loss (correct me if wrong)? I think that can reasonably be described as perilous.

The story does mention "distributions" amongst SPL clubs dropping to £1.2m overnight. Not sure what they base that on given the lack of anything concrete from Sky or other sponsors to indicate deals will be reneged/renegotiated. That part seems clear scare mongering.

I don't think the Sun is anywhere close to the Hun Agenda that the Record spews forth to be honest.

[Kojock]

Its at the end of an article on page 70 written by David Friel under the title "Its Panic Stations at Caley"

[Kaiser1962]

This quote is hidden because you are ignoring this member. Show Quote

Yes, our financial statements report our assets as being far greater than our liabilities.

As did Rangers D.

And Hearts made a profit in the last two years. :

[Baw Baggio]

http://www.thescottishsun.co.uk/scot...-at-Caley.html

"Meanwhile, Kilmarnock could be just WEEKS away from plunging into administration.
SunSport understands a further FOUR SPL clubs are teetering on the brink as a direct result of yesterday’s Hampden vote.
The decision to banish newco Rangers to the Third Division has pushed half of Scotland’d top flight clubs to the brink of financial meltdown.
Distributions that once stood at £15.7m have been slashed overnight to £1.2m.
And Killie — who abstained from the initial SPL vote to reject Charles Green’s Gers — could be the first to fall into the abyss.
Motherwell, Hearts, Hibs and Dundee United are also in a perilous financial state with clubs now struggling to meet their already slashed wage bills."

[neilmartinrocks]

Derbies this season...
Arabs v dees v saints
Dons v caley v staggies
Hibs v jambos
all looks fine on the eastern front.
more competition more chance of europe less need to go to the weidge.
(assuming the dee get promoted)

[IWasThere2016]

Don't see owt online. BUT as I have said before our cash position is poor. Post spending the last of it on the East and heavy trading losses. We will need to re-finance our debts. STF parachuted cash in last year, and may have had to do so again this year but he will not do this long term. The build for the assets should have been financed over the longer term than they were via current arrangements/cash IMHO.

[banchoryhibs]

Whilst I don't believe for a minute that Hibs are in any way close to being in trouble it's cashflow not a negative balance sheet that plunges companies into administration.

If you can't pay your tax / suppliers / wages then administration follows! Having loads of assets does not help if they are not generating hard cash.

Sometimes having Rod around pays dividends

[Geo_1875]

I think they're probably quite close to being right, but only by a fluke. Unless they're using ST money to pay wages the close season means clubs outgoings always exceeds income. Once season starts and gate money comes in the position, for most clubs, is reversed. They really are scaremongering on behalf of Sevco.

[Hibby Bairn]

Certainly not pish. Closer to correct than you think.

[Big Ed]

This quote is hidden because you are ignoring this member. Show Quote

Certainly not pish. Closer to correct than you think.

Would you care to elaborate?

[cocopops1875]

This quote is hidden because you are ignoring this member. Show Quote

Certainly not pish. Closer to correct than you think.

Only if SirTom is not backing us anymore

[Hibercelona]

This quote is hidden because you are ignoring this member. Show Quote

Certainly not pish. Closer to correct than you think.

Utter nonsense.

[LeighLoyal]

Butthurting hun fantasy.

[CropleyWasGod]

This quote is hidden because you are ignoring this member. Show Quote

Certainly not pish. Closer to correct than you think.

A company is insolvent when its liabilities exceed its assets, or it is unable to meet its debts as they fall due.

Which is it?

[Phil D. Rolls]

This quote is hidden because you are ignoring this member. Show Quote

Although its hyperbole, I don't think the actual wording is too inaccurate.

It says Killie are on the brink of administration which is no shock. It then says Well, Hearts, Hibs and Utd are in a perilous financial state. Although each team have very different circumstances, that's not an unfair comment IMO.

Although we're undoubtedly solvent from a Balance Sheet perspective, we'll definitely have had challenges meeting our interest commitments in recent years, we're expected to report a 3rd consecutive loss (correct me if wrong)? I think that can reasonably be described as perilous.

The story does mention "distributions" amongst SPL clubs dropping to £1.2m overnight. Not sure what they base that on given the lack of anything concrete from Sky or other sponsors to indicate deals will be reneged/renegotiated. That part seems clear scare mongering.

I don't think the Sun is anywhere close to the Hun Agenda that the Record spews forth to be honest.

Is it because they have the same owner.

[Elephant Stone]

Dear Sevco,

Sook ees.

[Mon Dieu4]

This quote is hidden because you are ignoring this member. Show Quote

http://www.thescottishsun.co.uk/scot...-at-Caley.html

"Meanwhile, Kilmarnock could be just WEEKS away from plunging into administration.
SunSport understands a further FOUR SPL clubs are teetering on the brink as a direct result of yesterday’s Hampden vote.
The decision to banish newco Rangers to the Third Division has pushed half of Scotland’d top flight clubs to the brink of financial meltdown.
Distributions that once stood at £15.7m have been slashed overnight to £1.2m.
And Killie — who abstained from the initial SPL vote to reject Charles Green’s Gers — could be the first to fall into the abyss.
Motherwell, Hearts, Hibs and Dundee United are also in a perilous financial state with clubs now struggling to meet their already slashed wage bills."

so they have mentioned killie and managed to get 8 other teams in the same article Haha ok we get it only Celtic are ok and not going under, scandalous reporting

[HH81]

I hardly think a club close to admin would be booking pre season tours abroad.

I'm sure they must have made a decent amount of the Scottish cup final to tide them over till season starts?

[Iggy Pope]

Change of thread title methinks.

The article does not mention Hibs in connection with administration, only that we are one of a number of clubs in various states of financial doo. No surprise there. Petrie will tell you this at the next AGM, just as he did at the last one.

[Sumner]

"Claim"... claim is a strong word.

Someone might claim the Scootish Sun
is a wholly biased SKY-serving trash paper,
peddling slander and scare-mongering,
while it's owner is not attending hearings
playing the borderline-senility card,
and denying private investigators
were on the payroll, hacking a dead girl's phone


... "Claim" you say.

[blackpoolhibs]

How many clubs have gone bust after being relegated? Bearing in mind they dont have any games against sevco or celtic?

[Mikey]

This quote is hidden because you are ignoring this member. Show Quote

Certainly not pish. Closer to correct than you think.

This quote is hidden because you are ignoring this member. Show Quote

Would you care to elaborate?

This quote is hidden because you are ignoring this member. Show Quote

Only if SirTom is not backing us anymore

This quote is hidden because you are ignoring this member. Show Quote

Utter nonsense.

This quote is hidden because you are ignoring this member. Show Quote

A company is insolvent when its liabilities exceed its assets, or it is unable to meet its debts as they fall due.

Which is it?

C'mon then, let's be having it.

[SkintHibby]

Some of you may remember I started a thread a few months ago bout Hibs being close to administration. The person who had told me this said these words came directly from Fife Hyland (the person who told me this has no association with Hibs so I stood up and took notice when he mentioned Fife Hylands name).

I never expected to be shot down in flames for only reporting on here what Fife had said but no matter what, these rumours are coming from somewhere (whether they are true or not).

[Kaiser1962]

This quote is hidden because you are ignoring this member. Show Quote

How many clubs have gone bust after being relegated? Bearing in mind they dont have any games against sevco or celtic?

List of clubs outwith the top flight who have gone into administration are Morton (2000), Livingston (2009) and Dundee (2010). Livi left the top flight in 2006 and Dundee in 2005 so its unlikely lack of games against Sevco caused their (2nd) financial demise. Morton last played in the top division in 1988.

Clubs who were liquidated outside the top flight are Airdrieonians (2002), ironically at the behest of David Murray, who gave a big lecture about "paying your way" Oh, the irony!. Clydebank (2002) were liquidated the same year and were, controversially, taken over by what was left of Airdrieonians and reformed as Airdrie United.

Top flight clubs who have experienced financial issues and sought refuge within the administration process are, despite playing Sevco, are Motherwell (2004), Dundee (2004), Livingston(2005), Gretna (who were liquidated and reformed as Gretna 2008 in, would you believe, 2008) and Rangers, who are about to be liquidated but have already reformed as Sevco.

You would have to surmise that, statistically, you are safer in the lower divisions, despite not playing the "big" teams.

[Kaiser1962]

This quote is hidden because you are ignoring this member. Show Quote

Certainly not pish. Closer to correct than you think.

I dont believe this so do you any evidence to back this up?