Share Transfers Agreed/Cooling off period

[BroxburnHibee]

The chat is getting more desperate.


FOUNDATION of Hearts will submit their bid to take control of the club within the next 24 hours.



Edinburgh MP Ian Murray, the fan group’s independent chair, is to lodge what he described as a “credible, affordable and realistic” offer with administrators BDO prior to tomorrow’s 5pm deadline. Today, he urged Hearts fans to help the Foundation seize the moment and take control of their club’s future.

Legal checks on the bid were being done yesterday before it can be presented. The Foundation currently has more than 5000 cash pledges from supporters and access to investors to help with purchasing of shares in Hearts. Those investors would need to be repaid should the fan-led organisation ultimately gain control.

Other offers could arrive to rival the Foundation but, as of this morning, BDO had yet to receive any. A Scandinavian consortium remains interested in getting involved with the Foundation but, after meeting last night, do not plan to submit their own offer after having a £500,000 bid rejected last month.

The UK-based group fronted by Gordon McKie and Stephen Paterson are also in the background, willing to assist Murray and Foundation of Hearts. Club 9 Sports, the American sports 
management agency, are said to be preparing a bid, but have yet to submit one.

Murray today outlined the opportunity open to Hearts supporters if they back the Foundation, which plans to run the club through a membership scheme. He wants more cash pledges to help secure preferred bidder status before trying to get the club out of administration.

“This is a real chance for Hearts fans to seize the moment,” he told the Evening News. “If they just want to wait for a mysterious ‘white knight’ to come in, that’s all good and well. For every converted pledge we have, the process is an awful lot easier. Don’t wake up on Saturday morning with BDO locking the club up because there are no bids in.

“Hearts are still in the premier league. We have a small squad and we have sanctions to come but we might just have a chance of getting out of this. We have some of the best youngsters in the country and if three or four of them click we might just stave off relegation. Then the future becomes very bright.”

Murray is aware some fans remain unconvinced about the Foundation. “What I’d say to the fans who are still sceptical and haven’t pledged is: By five o’clock tomorrow, if the Foundation of Hearts bid is not in, or we can’t afford it or we decide not to do it, there might not be anybody else. Other potential bidders may or may not be there, it may be just speculation, they may or may not be able to pull their bid together.

“I’m not suggesting any of the other bidders are being inappropriate, all I’m saying is we’re being transparent. We’re going to walk through the doors of Tynecastle before tomorrow’s deadline and give them our bid. It’s the only bid that is really on the table, that is truly transparent and that the fans can truly influence.

“We can fall short of our pledges target, we can reach our target or we can smash it. Personally, I’d much prefer to smash it. If I’ve got 25,000 people paying £100 a month then it makes the process an awful lot easier than having 1000 people at £10 a month. Every single penny given to the Foundation goes back into the club.

“If the fans own the club, the membership then decides what is the future. Once the club is financially stable and any purchasing debt has been paid off, then the club will have a revenue stream to add to its current revenue stream, which tends to be quite profitable anyway. That can be ploughed back into the club.

“The key to all that is you would have to pay off all the capital you might need to purchase the club first. Then you reach a stable financial footing and go from there.”

The Scandinavian consortium released the following statement following last night’s meeting. “The Scandinavian group remain interested in Heart of Midlothian FC, but have decided not to field a separate bid for Heart of Midlothian FC by the deadline set by the joint administrators.

“As Hearts fans first and foremost, they feel it would be inappropriate at this stage to bid against fan driven takeover bids already in place. They wish all bidders best of luck and will continue to monitor the situation and remain available and interested in talking to the club in the future to see how they can contribute to a healthy and stable Heart of Midlothian FC in the long term.”

Desperate and frankly quite obscene.

[CropleyWasGod]

I get that next year but that seems to be their ongoing model for fan owership? Keep taking money from fans to spend more cash than they would get from tickets etc?

...which may not be a bad model, if there was a consistent (and reliable) core of fan payment. More income from fans = more investment on the park.

It's not a model I would like to follow, though.

[I'm_cabbaged]

#allisbarry is back!! Remember folks, he's the one to follow for the truth in this shambolic affair.

[HUTCHYHIBBY]

"credible, affordable and realistic offer" perhaps in FoH's eyes, I doubt The Lith's will be falling over themselves to accept.

[Treadstone]

The chat is getting more desperate.
FOUNDATION of Hearts will submit their bid to take control of the club within the next 24 hours....


Ian 'I'm an MP' Murray disagreeing with himself.

Don’t wake up on Saturday morning with BDO locking the club up because there are no bids in.

We’re going to walk through the doors of Tynecastle before tomorrow’s deadline and give them our bid.

[Phil D. Rolls]

then the club will have a revenue stream to add to its current revenue stream, which tends to be quite profitable anyway. That can be ploughed back into the club.

Please let them win.

[GraniteCityHibs]

''If I’ve got 25,000 people paying £100 a month'' :rolleyes:

cloud-cuckoo-land

[Hibbyradge]

Can a bid be accepted when the assets are frozen?

[Fife-Hibee]

25000 fans paying £100 a month ! Hahahahahahahaha

[Craig_in_Prague]

If I drink 10 pints tomorrow instead of 2, I will be more drunk. Or 15 pints, if I prefer to get smashed.
Am I getting this right Ian? I know I'm not an MP...
25000 hahaha, thought they had 400,000 fans.

[StevieC]

The Foundation currently has more than 5000 cash pledges from supporters and access to investors to help with purchasing of shares in Hearts. Those investors would need to be repaid should the fan-led organisation ultimately gain control.


If I’ve got 25,000 people paying £100 a month then it makes the process an awful lot easier than having 1000 people at £10 a month.

Two quotes that I've picked out ..

The first suggests that they have someone willing to put up a loan (exactly how much is open to debate) as they know that they do not have the ability to meet the financial demands for a succesful bid. I suspect that this would put the person that gives them the loan the ones in command and the "fan led" bid would become "fan funded" bid as the monthly donations would simply go towards the repayment of the loan. Where that leaves them for working capital is anybodies guess (unless it is a defered repayment).

The second quote suggests that they may actually be sitting at no more than 1,000 "converted" pledges. If not, why would they give this figure? Surely you would give the lowest figure that you have converted to show that you are pretty close to what is needed?

[Seveno]

In the EEN, Murray states :

“If the fans own the club, the membership then decides what is the future. Once the club is financially stable and any purchasing debt has been paid off, then the club will have a revenue stream to add to its current revenue stream, which tends to be quite profitable anyway. That can be ploughed back into the club.
“The key to all that is you would have to pay off all the capital you might need to purchase the club first. Then you reach a stable financial footing and go from there.”

So they are borrowing money to buy the club which will then have to be paid back by the DD scheme before they have any money to actually run the club. In a weaker moment, I could almost feel sorry for the deluded Yamboids. But only 'almost'.

[Hibbyradge]

Maybe the Scottish Government will make a bid for Tynecastle after all.

http://www.bbc.co.uk/news/uk-scotland-23255326

[ScottB]

The chat is getting more desperate.


FOUNDATION of Hearts will submit their bid to take control of the club within the next 24 hours.



Edinburgh MP Ian Murray, the fan group’s independent chair, is to lodge what he described as a “credible, affordable and realistic” offer with administrators BDO prior to tomorrow’s 5pm deadline. Today, he urged Hearts fans to help the Foundation seize the moment and take control of their club’s future.

Legal checks on the bid were being done yesterday before it can be presented. The Foundation currently has more than 5000 cash pledges from supporters and access to investors to help with purchasing of shares in Hearts. Those investors would need to be repaid should the fan-led organisation ultimately gain control.

Other offers could arrive to rival the Foundation but, as of this morning, BDO had yet to receive any. A Scandinavian consortium remains interested in getting involved with the Foundation but, after meeting last night, do not plan to submit their own offer after having a £500,000 bid rejected last month.

The UK-based group fronted by Gordon McKie and Stephen Paterson are also in the background, willing to assist Murray and Foundation of Hearts. Club 9 Sports, the American sports 
management agency, are said to be preparing a bid, but have yet to submit one.

Murray today outlined the opportunity open to Hearts supporters if they back the Foundation, which plans to run the club through a membership scheme. He wants more cash pledges to help secure preferred bidder status before trying to get the club out of administration.

“This is a real chance for Hearts fans to seize the moment,” he told the Evening News. “If they just want to wait for a mysterious ‘white knight’ to come in, that’s all good and well. For every converted pledge we have, the process is an awful lot easier. Don’t wake up on Saturday morning with BDO locking the club up because there are no bids in.

“Hearts are still in the premier league. We have a small squad and we have sanctions to come but we might just have a chance of getting out of this. We have some of the best youngsters in the country and if three or four of them click we might just stave off relegation. Then the future becomes very bright.”

Murray is aware some fans remain unconvinced about the Foundation. “What I’d say to the fans who are still sceptical and haven’t pledged is: By five o’clock tomorrow, if the Foundation of Hearts bid is not in, or we can’t afford it or we decide not to do it, there might not be anybody else. Other potential bidders may or may not be there, it may be just speculation, they may or may not be able to pull their bid together.

“I’m not suggesting any of the other bidders are being inappropriate, all I’m saying is we’re being transparent. We’re going to walk through the doors of Tynecastle before tomorrow’s deadline and give them our bid. It’s the only bid that is really on the table, that is truly transparent and that the fans can truly influence.

“We can fall short of our pledges target, we can reach our target or we can smash it. Personally, I’d much prefer to smash it. If I’ve got 25,000 people paying £100 a month then it makes the process an awful lot easier than having 1000 people at £10 a month. Every single penny given to the Foundation goes back into the club.

“If the fans own the club, the membership then decides what is the future. Once the club is financially stable and any purchasing debt has been paid off, then the club will have a revenue stream to add to its current revenue stream, which tends to be quite profitable anyway. That can be ploughed back into the club.

“The key to all that is you would have to pay off all the capital you might need to purchase the club first. Then you reach a stable financial footing and go from there.”

The Scandinavian consortium released the following statement following last night’s meeting. “The Scandinavian group remain interested in Heart of Midlothian FC, but have decided not to field a separate bid for Heart of Midlothian FC by the deadline set by the joint administrators.

“As Hearts fans first and foremost, they feel it would be inappropriate at this stage to bid against fan driven takeover bids already in place. They wish all bidders best of luck and will continue to monitor the situation and remain available and interested in talking to the club in the future to see how they can contribute to a healthy and stable Heart of Midlothian FC in the long term.”

So, key points for me:


Does he genuinely think there are no other serious bidders in play, or is he just trying to ensure FoH come out on top for his own ego purposes?

I'm guessing they are currently on course to miss their target.

The Scandinavians are back! But seem only interested in investing once the club has emerged from the current mess. So they're useless in effect.

Is the BDO locking the gates line a threat to bully fans into converting their pledges (4,000 pledges already converted... Aye right, isn't that the original total of pledgers including all the Hibs joke ones?) or has he been told by BDO it's curtains if no suitable bids are lodged tomorrow?

[JeMeSouviens]

In the EEN, Murray states :

“If the fans own the club, the membership then decides what is the future. Once the club is financially stable and any purchasing debt has been paid off, then the club will have a revenue stream to add to its current revenue stream, which tends to be quite profitable anyway. That can be ploughed back into the club.
“The key to all that is you would have to pay off all the capital you might need to purchase the club first. Then you reach a stable financial footing and go from there.”

So they are borrowing money to buy the club which will then have to be paid back by the DD scheme before they have any money to actually run the club. In a weaker moment, I could almost feel sorry for the deluded Yamboids. But only 'almost'.

... and if they got that far, all they have left to do is sign an actual team and rebuild their crumbling main stand. Simples. :wink:

[ScottB]

In the EEN, Murray states :

“If the fans own the club, the membership then decides what is the future. Once the club is financially stable and any purchasing debt has been paid off, then the club will have a revenue stream to add to its current revenue stream, which tends to be quite profitable anyway. That can be ploughed back into the club.
“The key to all that is you would have to pay off all the capital you might need to purchase the club first. Then you reach a stable financial footing and go from there.”

So they are borrowing money to buy the club which will then have to be paid back by the DD scheme before they have any money to actually run the club. In a weaker moment, I could almost feel sorry for the deluded Yamboids. But only 'almost'.

Surely as a club recently exited from administration, or as a newco, nobody will even offer them a bank account, nevermind a loan?

[Waxy]

I wonder what's the worst that could happen for them this weekend?
Could the gates get padlocked?

[CropleyWasGod]

I wonder what's the worst that could happen for them this weekend?
Could the gates get padlocked?

Very unlikely.

As I said earlier, it's likely that there will be little news of any substance until the beginning of the week.

[Treadstone]

I wonder what's the worst that could happen for them this weekend?
Could the gates get padlocked?

As CWG says, but expect more rhetoric from FoH at the weekend.

[Billy Whizz]

Very unlikely.

As I said earlier, it's likely that there will be little news of any substance until the beginning of the week.

Hibs better not put the derby tickets on sale yet.......

[JeMeSouviens]

I think BDO hope the process will be:

- get a bunch of bids in by tomorrow, throw away the worst of the bargain hunters
- negotiate/work with what's left to get at least close to something they think creditors will accept (iirc, Ukio's liquidator, Valnetas, is also a BDO group company or has some formal relationship with them, so BDO should be as well informed as an admin can be).
- name one of them as preferred bidder, work on detail of bid to satisfaction of secured creditors
- put CVA proposal to unsecured creditors

All that should take a fair bit of time and of course exit via CVA requires the UBIG situation to be resolved.

[brog]

Two quotes that I've picked out ..

The first suggests that they have someone willing to put up a loan (exactly how much is open to debate) as they know that they do not have the ability to meet the financial demands for a succesful bid. I suspect that this would put the person that gives them the loan the ones in command and the "fan led" bid would become "fan funded" bid as the monthly donations would simply go towards the repayment of the loan. Where that leaves them for working capital is anybodies guess (unless it is a defered repayment).

The second quote suggests that they may actually be sitting at no more than 1,000 "converted" pledges. If not, why would they give this figure? Surely you would give the lowest figure that you have converted to show that you are pretty close to what is needed?

I think you're on the right track here. I also love the quote about buying shares, what shares? There's a million £ worth of share certificates sitting in Vlad's back room already!
Separately I don't believe there will be any credible bids by tomorrow. FoH are well meaning but have no business plan & I can't see how BDO would be fulfilling their statutory obligations by accepting a bid based on dribs & drabs of sweeties coming in at irregular intervals. The others sniffing around are the usual cowboys/predators/asset strippers looking to make a quick buck & their bids (if any ) will be pitifully low. Nope, end game now very close, liquidation for Yams, fizzy liquids for Hobos!

[Bad Martini]

ENDOF :cool:

[Seveno]

The process tomorrow will be as follows :

1700 - Deadline for bids comes into effect.
1705 - BDO open the envelope containing the bid from FoH.
1710 - BDO analyse bid.
1715 - BDO collapse on the floors in fits of laughter.
1720 - BDO phone Lithuania
1725 - Translator tells BDO that message from Lithuania is along the lines of 'GTF'.
1730 - Gates are padlocked.

[steakbake]

A loan, you say? It'll be okay: it'll be just like owing it to themselves.

[Bad Martini]

The process tomorrow will be as follows :

1700 - Deadline for bids comes into effect.
1705 - BDO open the envelope containing the bid from FoH.
1710 - BDO analyse bid.
1715 - BDO collapse on the floors in fits of laughter.
1720 - BDO phone Lithuania
1725 - Translator tells BDO that message from Lithuania is along the lines of 'GTF'.
1730 - Gates are padlocked.



1735 - Messrs Locke, Robertson, McKay, pishy breeks and Satan himself all drown in floods of their own tears
1736 - 'mr' Romanov makes himself known ala slugworth at the end of Charlie and the chocolate factory
1737 - 400,000 are seen jumping off the brewery rooftops
1738 - everyone else in Scottish fitba laughs their ***** off
2359 -... Until they can laugh no more
0000 - genesis. new era. One team in Edinburgh :D

ENDOF

[Sanger]

The process tomorrow will be as follows :

1700 - Deadline for bids comes into effect.
1705 - BDO open the envelope containing the bid from FoH.
1710 - BDO analyse bid.
1715 - BDO collapse on the floors in fits of laughter.
1720 - BDO phone Lithuania
1725 - Translator tells BDO that message from Lithuania is along the lines of 'GTF'.
1730 - Gates are padlocked.
Funny that was my dream last night. No admin in right mind going to accept £1.5m now and £1.5m in direct debits over 3 years. Any Newco including Tynie would cost £5m for Tynie and £1.5 for rest. So a no go. Break up and liquidation. FOH buy club exTynie and look to rent a pitch and apply for div 3. The latter may take a couple of years if ever!

[BurghHibby]

The process tomorrow will be as follows :

1700 - Deadline for bids comes into effect.
1705 - BDO open the envelope containing the bid from FoH.
1706 - Claude Litner interviews Ian (I'm an MP you know) Murray re bid
1707 - Ian Murray scuttles from room with Litner stating that Jordan was more credible than FoH
1710 - BDO analyse bid.
1715 - BDO collapse on the floors in fits of laughter.
1720 - BDO phone Lithuania
1725 - Translator tells BDO that message from Lithuania is along the lines of 'GTF'.
1730 - Gates are padlocked.

Fixed that for you.:greengrin

[KdyHby]

1737 - 400,000 are seen jumping off the brewery
ENDOF

So long as they stay away from the Forth Road Bridge, don't want to be late getting to Kirkcaldy :cb

[s2hart]

Funny that was my dream last night. No admin in right mind going to accept £1.5m now and £1.5m in direct debits over 3 years. Any Newco including Tynie would cost £5m for Tynie and £1.5 for rest. So a no go. Break up and liquidation. FOH buy club exTynie and look to rent a pitch and apply for div 3. The latter may take a couple of years if ever!

As someone has said before, keep talking like that and I'll have to close the curtains :greengrin

[Moulin Yarns]

Very unlikely.

As I said earlier, it's likely that there will be little news of any substance until the beginning of the week.

Oh!! I thought it was me that said that :wink:

[s.a.m]

The process tomorrow will be as follows :

1700 - Deadline for bids comes into effect.
1705 - BDO open the envelope containing the bid from FoH.
1710 - BDO analyse bid.
1715 - BDO collapse on the floors in fits of laughter.
1720 - BDO phone Lithuania
1725 - Translator tells BDO that message from Lithuania is along the lines of 'GTF'.
1730 - Gates are padlocked.

That would be completely lovely.

However, how I see it 'going forward'* (I'm not an optimistic sort :greengrin) is:

1700 - deadline for bids etc...
1700 - Deadline for bids comes into effect.
1705 - BDO open the envelope containing the bid from FoH.
1710 - BDO analyse bid.
1715 - BDO collapse on the floors in fits of laughter. However, they're going to give it a 'right good go', so....
1720 - BDO phone Lithuania
1725 - Translator tells BDO that message from Lithuania is along the lines of 'Who are you again? Heart of WHO? A FOOTBALL club?That's ******* hilarious, but since it's going to take forever to sort out this godforsaken mess at this end, they might as well carry on in the meantime. We'll get back to you. Mibbe this time next year.'

....and Hearts struggle on with their transfer-embargoed squad, getting regularly hammered but not quite going away.........

I can't see a happy ending for them, but I'm starting to get impatient.:I'm waiti



* actually, if I'm being honest, I can't see them finishing the season, if they do manage to start it. But I don't want to get my hopes up. :greengrin

[CropleyWasGod]

Oh!! I thought it was me that said that :wink:

Definitely me.

Originally Posted by CropleyWasGod
First off, we probably won't have any definitive news tomorrow. Whatever happens, the deadline for bids is (I think) 5pm, so BDO will be considering their options over the weekend.

They may extend the deadline, a la Rangers, although that is only likely if there are other potential bidders who haven't yet finalised their bids. Indeed, BDO may be under pressure from the SPFL and SFA not to do so.

On the bids themselves, it's unclear what the Club9 bid is based on, ie through a CVA or a NewCo. There have been conflicting stories in the BBC on that.

I would expect that, whatever bids are in, BDO will be in touch with the UKIO admins over the weekend, to try and gauge their attitude. It will probably be next week before we know what their next move is.

[JeMeSouviens]

You mean all you God/Cropley combos aren't the same guy? :confused:

[CyberSauzee]

You mean all you God/Cropley combos aren't the same guy? :confused:

And when they've finished living in the past tense you may want to bring this up with "CropleyIsGod".

#AllIsCropleyAndComplex

[Moulin Yarns]

You mean all you God/Cropley combos aren't the same guy? :confused:

No, I changed my name to muddy the waters!!

OK, here is a wee snippet from my boss, who is a senior Planner.

He thinks there might be a spanner in the works re the sale of Tynecastle for Housing - Contaminated land :greengrin

More seriously Sports Scotland have a policy that no Sports Grounds can be lost to development if there can be seen to be a need for them, so in the deprived inner city slum that is Gorgie a sports facility is seen as an essential social enterprise!! :devil:

[CropleyWasGod]

No, I changed my name to muddy the waters!!



I think you'll find it's THE Muddy Waters.

[jonty]

No, I changed my name to muddy the waters!!

OK, here is a wee snippet from my boss, who is a senior Planner.

He thinks there might be a spanner in the works re the sale of Tynecastle for Housing - Contaminated land :greengrin

More seriously Sports Scotland have a policy that no Sports Grounds can be lost to development if there can be seen to be a need for them, so in the deprived inner city slum that is Gorgie a sports facility is seen as an essential social enterprise!! :devil:
Cala Fairydean it is then.

[CropleyWasGod]

Cala Fairydean it is then.

:greengrin

How long have you been saving that one up for?

[jonty]

:greengrin

How long have you been saving that one up for?
A flash of inspiration yesterday. And since it went unnoticed on the 'newyamco names' thread I thought i'd repeat it :greengrin

[CropleyWasGod]

A flash of inspiration yesterday. And since it went unnoticed on the 'newyamco names' thread I thought i'd repeat it :greengrin

Timing is.



Everything.

[Kaiser1962]

£5.5m, no?

I think Mr. Falcon is right here.

The amount realised by Duff and Phelps for heritable properties, in the creditors report of 24th August 2012, was, indeed, £1.5m. Plant and machinery a further £1.25m and player registrations and contracts the most at £2,749,990. Other "assets" (goodwill, SPL share and SFA membership) went for £1 a pop and I suspect this included their history as well.

The interim report up to 31st December 2012, published on 4th March 2013 by Rangers International Football Club PLC contained the information, in the Financial Review section;

"A revaluation process was undertaken during the period; Ibrox stadium and Murray
Park were revalued at £40m, and intangibles were valued at £19m on acquisition."

On the face of it, it dosent appear to be the worst deal ever done. If you werent a creditor of Rangers that is.

[CropleyWasGod]

I think Mr. Falcon is right here.

The amount realised by Duff and Phelps for heritable properties, in the creditors report of 24th August 2012, was, indeed, £1.5m. Plant and machinery a further £1.25m and player registrations and contracts a further £2,749,990. Other "assets" (goodwill, SPL share and SFA membership) went for £1 a pop and I suspect this included their history as well.

The interim report up to 31st December 2012, published on 4th March 2013 by Rangers International Football Club PLC contained the information, in the Financial Review section;

"A revaluation process was undertaken during the period; Ibrox stadium and Murray
Park were revalued at £40m, and intangibles were valued at £19m on acquisition."

On the face of it, it dosent appear to be the worst deal ever done. If you werent a creditor of Rangers that is.

Yeah, you're right. I misread his post.

Still, whether it was £1.5m or £5.5m, his point still stands.

BDO, hopefully, will be on that. How much we love them just now. :greengrin

[Kaiser1962]

Cala Fairydean it is then.


:greengrin

How long have you been saving that one up for?


To keep up to date should it not be Cala Fairydean Rovers FC :cb

[Hibbyradge]

More seriously Sports Scotland have a policy that no Sports Grounds can be lost to development if there can be seen to be a need for them, so in the deprived inner city slum that is Gorgie a sports facility is seen as an essential social enterprise!! :devil:

Tell Spartans that.

[Kaiser1962]

Yeah, you're right. I misread his post.

Still, whether it was £1.5m or £5.5m, his point still stands.

BDO, hopefully, will be on that. How much we love them just now. :greengrin


I think, reading it, you would have to question why players contracts and registration, which were subject to TUPE and therefore optional on the players part, was actually deemed to be worth significantly more than the properties?

Cmon the BDO

They could very soon be my favourite people ever, in history. :not worth

[Prof. Shaggy]

Yup the 'Riccarton Three' are the only ones with integrity and the moral high ground to comment.....

.....except us. :cb

[southsider]

None of the "3" said anything about the outdandish wages being paid at the pbs. This helped bring about their downfall. 5pm tomorrow......tick tick tick...

[Hibbyradge]

None of the "3" said anything about the outdandish wages being paid at the pbs. This helped bring about their downfall. 5pm tomorrow......tick tick tick...

Should it not be "tock, tock, tock"?

Hearts can't get tick.

[Prof. Shaggy]

None of the "3" said anything about the outdandish wages being paid at the pbs. This helped bring about their downfall. 5pm tomorrow......tick tick tick...

Well naturally...the outlandish wages were being paid to themselves.

My point was just that they did speak out. JJ never did.

[#FromTheCapital]

Foundation of Hearts have submitted their bid http://progress-sc.com/wp-content/uploads/2013/07/Foundation-of-Hearts-Media-Release-11th-July-2013.pdf

[YehButNoBut]

John Robertson now back with them in a coaching role with their strikers (do they have any??), working for free of course.

WARNING there is a picture on this link that will put you off your tea. :greengrin

http://www.heartsfc.co.uk/articles/20130711/robbos-back_2241384_3234760

[Stevie Reid]

John Robertson now back with them in a coaching role with their strikers (do they have any??), working for free of course.

WARNING there is a picture on this link that will put you off your tea. :greengrin

http://www.heartsfc.co.uk/articles/20130711/robbos-back_2241384_3234760

Gar Locke: - "For me it was a no brainer"

Just as well, really.

[Hibs Class]

Foundation of Hearts have submitted their bid http://progress-sc.com/wp-content/uploads/2013/07/Foundation-of-Hearts-Media-Release-11th-July-2013.pdf

As media packs go, it's on the short, lacking detail side.

[CropleyWasGod]

As media packs go, it's on the short, lacking detail side.

As well as accuracy.

"Should this bid be accepted by BDO,..."

It's not in the power of BDO to accept the bid. :rolleyes:

[stirling_hibee]

John Robertson now back with them in a coaching role with their strikers (do they have any??), working for free of course.

WARNING there is a picture on this link that will put you off your tea. :greengrin

http://www.heartsfc.co.uk/articles/20130711/robbos-back_2241384_3234760

Does anyone else get an advert for a free bankruptcy calculator in the middle of the article on the yams website?

[Springbank]

Tell Spartans that.

City Park was really quite different I think. SportScotland were consulted when Spartans moved across the cycle track from City Park to Ainslie Park, so that was all considered to be fine, from a sporting point of view.

In fact, Spartans' new ground was completed before City Park was sold, so there was a smooth transition for the football team.

I don't think Hearts could expect the same smooth passage, as the ownership of their ground could change hands now without anyone (except the admins) having a say.

[Phil D. Rolls]

Foundation of Hearts have submitted their bid http://progress-sc.com/wp-content/uploads/2013/07/Foundation-of-Hearts-Media-Release-11th-July-2013.pdf

Please let them win. They have t got a clue what they are doing. Can't wait for the fall out when the sensitive subject of blazers comes up for discussion.

[Mon Dieu4]

Foundation of Hearts have submitted their bid http://progress-sc.com/wp-content/uploads/2013/07/Foundation-of-Hearts-Media-Release-11th-July-2013.pdf

Like the bit about awaiting next steps

scrunch up, flies through air, bin

[brog]

Foundation of Hearts have submitted their bid http://progress-sc.com/wp-content/uploads/2013/07/Foundation-of-Hearts-Media-Release-11th-July-2013.pdf

Wow! A 9 line statement which is both inaccurate & semi-literate! These guys are soooooo professional.

[HUTCHYHIBBY]

Has John Borthwick been unveiled as the FoH accountant yet?

[Spike Mandela]

Foundation of Hearts have submitted their bid http://progress-sc.com/wp-content/uploads/2013/07/Foundation-of-Hearts-Media-Release-11th-July-2013.pdf

NOW THAT'S what I call a bid!!!:greengrin

[greenginger]

City Park was really quite different I think. SportScotland were consulted when Spartans moved across the cycle track from City Park to Ainslie Park, so that was all considered to be fine, from a sporting point of view.

In fact, Spartans' new ground was completed before City Park was sold, so there was a smooth transition for the football team.

I don't think Hearts could expect the same smooth passage, as the ownership of their ground could change hands now without anyone (except the admins) having a say.


Neither the PBS or Easter Road stadium are denoted on the City Council's planning maps as sports grounds. They are both business premises.

When the Yams thought it would be a good idea to ditch the PBS and walk into a Council funded, brand new mega-dome, the council planning dept. suggested the site could be used for social housing or small business units.

[jacomo]

Wow! A 9 line statement which is both inaccurate & semi-literate! These guys are soooooo professional.

But but but... It's from the FoH 'Media Centre', and the logo has got fleurs-de-lys on it and everything... This is surely a Big Statement from some Big Operators.

[Dashing Bob S]

Wow! A 9 line statement which is both inaccurate & semi-literate! These guys are soooooo professional.

They are just cutting their cloth accordingly, compensating for the boxes of planning application for the new stand.


That was a million quid well spent.

[SMAXXA]

Manager Gary Locke was only too happy to take up 'The Hammer of Hibs' on his offer. They really are desperate fuds

[Jack]

Media statement issued on behalf of the Foundation of Hearts:

Thursday 11th July 2013, 3.30pm

The bid team working with and on behalf of the Foundation of Hearts, has today (11th July 2013) submitted a proposal to the administrators of Heart of Midlothian FC, BDO LLP. The proposal would see Hearts exit administration and, with the ongoing backing of the supporter base, move towards a position of financial stability. Should this bid be accepted by BDO, it will allow the Foundation of Hearts to secure majority ownership over the club in a controlled fashion with support of the necessary capital to make today's bid strong and credible. The Foundation of Hearts will respect the next stage of this process by making no further comment in the days ahead, to allow the administrators to consider next steps. <ENDS>

Does promise in the final sentence they'll shut their gobs for a few days, that should be considered a wee bonus.

[CropleyisGod]

As I believe CWG has previously stated, in a liquidation event BDO get paid from the proceeds of the sale of assets. Is it likely that upon liquidation the only real asset is the Wongadome/asbestos contaminated land and everything else will be discounted to zero (including World Cup winning players, any cakes left unsold, maybe the last of the white paint). I assume cash in bank would go to creditors according to their level of security (ie Ukios). I guess my point is...will the Yams disappear quickly after a decision is made with just a 'development potential, land for sale' sign to mark 140 years of cheating? Frankly, getting bored of the 'positive' rallying pish in the media.

[Borderhibbie76]

Anybody witnessed any cake sales or last minute face painting down gorgie way today???

[Bad Martini]

I assume cash in bank.

:D

Cash in the bank?? Hehe hehe hehe. Somewhere on a telly somewhere in an impoverished country there is a telly advert asking them to spare £2 a month to save a yam....:D

[Dunderhall]

What's the story Mr Murray, Found Out Hearts.

21st June.

"We can come up with the funds, because if the 6,000 people who have pledged convert to direct debits, and we get a few more on top, we will certainly be in a position to come up with the money.


So just around 20% short. depending on what a few meant. Transparent only in the sense folk should see right through you.

[CropleyWasGod]

As I believe CWG has previously stated, in a liquidation event BDO get paid from the proceeds of the sale of assets. Is it likely that upon liquidation the only real asset is the Wongadome/asbestos contaminated land and everything else will be discounted to zero (including World Cup winning players, any cakes left unsold, maybe the last of the white paint). I assume cash in bank would go to creditors according to their level of security (ie Ukios). I guess my point is...will the Yams disappear quickly after a decision is made with just a 'development potential, land for sale' sign to mark 140 years of cheating? Frankly, getting bored of the 'positive' rallying pish in the media.

AFAIK, on liquidation all contracts revert to the SFA and the players become free agents. There may be a value in the name, as there was with Rangers.

[Dunderhall]

:D

Cash in the bank?? Hehe hehe hehe. Somewhere on a telly somewhere in an impoverished country there is a telly advert asking them to spare £2 a month to save a yam....:D

Some of them are hoping to be cryogenically frozen.
They are finding it harder than Edward Snowden to find a country to accept them though.
They have found a remote place in Nigeria which is looking into the details.

Details here. (http://www.krepublishers.com/02-Journals/JHE/JHE-27-0-000-09-Web/JHE-27-2-000-09-Abst-PDF/JHE-27-02-155-09-1753-Okojie-D-U-O/JHE-27-02-155-09-1753-Okojie-D-U-O-Tt.pdf)

[kdhibees1]

:D

Cash in the bank?? Hehe hehe hehe. Somewhere on a telly somewhere in an impoverished country there is a telly advert asking them to spare £2 a month to save a yam....:D

http://img689.imageshack.us/edit_preview.php?l=img689/6623/0ovs.jpg&action=rotate

[Keith_M]

Does anyone else get an advert for a free bankruptcy calculator in the middle of the article on the yams website?

No, I just get an Ad for the 'New and Improved Hearts TV' that includes such things as 'Paolo's Pre-Match Conferences' :greengrin

[hibee_nation]

http://img689.imageshack.us/edit_preview.php?l=img689/6623/0ovs.jpg&action=rotate

Pity Thats Life is still not on the go, Esther always liked showing veggies that look like a c0ck. :greengrin

[steakbake]

Can't pretend I understand those of the maroon persuasion but why on earth are a lot of them excitedly talking about a new stadium being developed as a result of this process?

As far as I can see it, they'll be lucky to have a team playing in the top league never mind relocation or building the leisure complex Vlad never got round to.

[Simkin911]

Does anyone else get an advert for a free bankruptcy calculator in the middle of the article on the yams website?

Yes, I see it! C'mon surely someone on their computer (rather than phone) can take a screen shot! Hilarious.

[YehButNoBut]

Can't pretend I understand those of the maroon persuasion but why on earth are a lot of them excitedly talking about a new stadium being developed as a result of this process?

As far as I can see it, they'll be lucky to have a team playing in the top league never mind relocation or building the leisure complex Vlad never got round to.

They still think that they are the big team, this is a mere hiccup, and they'll be back bigger & better (debt free) in a few years.

Oh and we'll be bust by then. :yw:

[Dunderhall]

Can't pretend I understand those of the maroon persuasion but why on earth are a lot of them excitedly talking about a new stadium being developed as a result of this process?


Maybe no one has told them the rent yet.
one company to own the stadium, the other the football side. :confused:

[kdhibees1]

Yes, I see it! C'mon surely someone on their computer (rather than phone) can take a screen shot! Hilarious.
http://img27.imageshack.us/edit_preview.php?l=img27/2979/y6sv.jpg&action=rotate
Oh the irony!!

[Dunderhall]

Anybody witnessed any cake sales or last minute face painting down gorgie way today???
Way too busy designing wonga dome mkII for their etch-a-sketch fundraiser.
just £5 per entry.

[Phil D. Rolls]

Can't pretend I understand those of the maroon persuasion but why on earth are a lot of them excitedly talking about a new stadium being developed as a result of this process?

As far as I can see it, they'll be lucky to have a team playing in the top league never mind relocation or building the leisure complex Vlad never got round to.

event : Hearts to lose spiritual home, and stadium of their own.

allisbarry: Jambos new stadium development on track.

[Phil D. Rolls]

Pity Thats Life is still not on the go, Esther always liked showing veggies that look like a c0ck. :greengrin

Is it too late to send photo of my potato shaped [BLANK] or [BLANKS]. :confused:

[Mellow Hibee]

Can't pretend I understand those of the maroon persuasion but why on earth are a lot of them excitedly talking about a new stadium being developed as a result of this process?

As far as I can see it, they'll be lucky to have a team playing in the top league never mind relocation or building the leisure complex Vlad never got round to.

It's the equivalent of those ads for Ocean Finance where idiots borrowed money at huge interest rates to repay loans "but still had enough money left for a ride on lawnmower"

I would have thought that they'd learned their lesson but at least if they do get out of this mess we know that their stadium is a wreck and they'll have to plunge themselves straight back into horrible debt to get a new one.

[jacomo]

John Robertson now back with them in a coaching role with their strikers (do they have any??), working for free of course.

WARNING there is a picture on this link that will put you off your tea. :greengrin

http://www.heartsfc.co.uk/articles/20130711/robbos-back_2241384_3234760

Is there a Hibs reference in this story? Doesnae count otherwise.

[Sanger]

At last a 12th of July to celebrate as liquidation approaches!

[McPhisto2]

Am I genuinely missing something here? I am at an utter loss as to how FoH can be seriously considered as a player in all this.
They've submitted their bid with the only claim of any financial clout to be what? 1000 DD subscribers? I just do not get this.

Apologies if I'm being over simplistic in my assessment of the matters at hand, but I am utterly sick of hearing the surely misplaced
positivity coming from these idiots. Never have I seen a bunch of fans so vacuous, utterly ignorant and lacking in passion over something they're
mean't to love dearly! I just can't see how they can be so optimistic when the odds stacked against them are, from what I can see and have learn't from others on here, mind blowingly gigantic. Or have I got it all wrong?

[truehibernian]

Manager Gary Locke was only too happy to take up 'The Hammer of Hibs' on his offer. They really are desperate fuds

:agree::top marks

As a football club they lack grace, finesse, humility and class. I'm sure no other SPL club would make so many mentions of their rival - they really are a horrible little football team.

Honking management team, honking squad, honking stadium, honking fans by and large. Nae strips, free coaches (both football and vehicle varieties), getting tiny Borders football clubs to bail them out, painted steps make 'headlines', Jimmy Sandison.......so many reasons to dislike them. The only thing that makes me like them a wee bit is that they kept Dylan McGowan............because he's honking too :agree:

[FranckSuzy]

Should it not be "tock, tock, tock"?

Hearts can't get tick.

:top marks


Cala Fairydean it is then.

Very good Jonty :agree: :greengrin :aok:

[Topographic Hibby]

Am I genuinely missing something here? I am at an utter loss as to how FoH can be seriously considered as a player in all this. They've submitted their bid with the only claim of any financial clout to be what? 1000 DD subscribers?.....
...and when thing get tight, holidays approach, Xmas looms large, these DDs are easily and readily cancellable. They have all the weight and financial clout of a 1000 wispy feathers. Not worth the paper they are printed on. BDO must see through these "pledges" as gossamer-thin funding, likely to collapse at the first sign of financial stress or trouble.

And another thing.....(gets on top of high-horse).

In a post BDO insolvency event wrap-up, who in their right minds will extend any sort of credit funding to HMFC, FOH-led or otherwise. Every institution with a modicum of lending criteria or potential unsecured creditor/supplier intent on providing a service/goods must be asking for cash up front. Once we all see how the wee-guys will get stuffed in the CVA, nobody will want to offer any sort of terms to them. (gets down from a very big horse...)

[CropleyWasGod]

...and when thing get tight, holidays approach, Xmas looms large, these DDs are easily and readily cancellable. They have all the weight and financial clout of a 1000 wispy feathers. Not worth the paper they are printed on. BDO must see through these "pledges" as gossamer-thin funding, likely to collapse at the first sign of financial stress or trouble.

And another thing.....(gets on top of high-horse).

In a post BDO insolvency event wrap-up, who in their right minds will extend any sort of credit funding to HMFC, FOH-led or otherwise. Every institution with a modicum of lending criteria or potential unsecured creditor/supplier intent on providing a service/goods must be asking for cash up front. Once we all see how the wee-guys will get stuffed in the CVA, nobody will want to offer any sort of terms to them. (gets down from a very big horse...)

"them" will be a different owner in that scenario. It will be up to their suppliers to to judge that owner.

ps your horse just farted in my face.

[Spike Mandela]

...and when thing get tight, holidays approach, Xmas looms large, these DDs are easily and readily cancellable. They have all the weight and financial clout of a 1000 wispy feathers. Not worth the paper they are printed on. BDO must see through these "pledges" as gossamer-thin funding, likely to collapse at the first sign of financial stress or trouble.

And another thing.....(gets on top of high-horse).

In a post BDO insolvency event wrap-up, who in their right minds will extend any sort of credit funding to HMFC, FOH-led or otherwise. Every institution with a modicum of lending criteria or potential unsecured creditor/supplier intent on providing a service/goods must be asking for cash up front. Once we all see how the wee-guys will get stuffed in the CVA, nobody will want to offer any sort of terms to them. (gets down from a very big horse...)

Not really relating to anything just wanted to say that was some of the most creative prose relating to this hearts fiasco that I have ever read on here and how refreshing that is:aok:

[McPhisto2]

...and when thing get tight, holidays approach, Xmas looms large, these DDs are easily and readily cancellable. They have all the weight and financial clout of a 1000 wispy feathers. Not worth the paper they are printed on. BDO must see through these "pledges" as gossamer-thin funding, likely to collapse at the first sign of financial stress or trouble.

And another thing.....(gets on top of high-horse).

In a post BDO insolvency event wrap-up, who in their right minds will extend any sort of credit funding to HMFC, FOH-led or otherwise. Every institution with a modicum of lending criteria or potential unsecured creditor/supplier intent on providing a service/goods must be asking for cash up front. Once we all see how the wee-guys will get stuffed in the CVA, nobody will want to offer any sort of terms to them. (gets down from a very big horse...)

Right so its not just me then? (Green tinted specs off for a minute). None of them, to a man (woman and child, well maybe not child), don't have an earthliest clue as to what the situation is in reality? Also, is all the subject matter covered (very well I would also like to say) on this forum not within BDO's knowledge already? OK, we all sometimes get a little green tinted when it comes to them, but surely BDO know this is surely just the motions being gone through right? I mean, how on earth can they come out of this in any other way than negative?

Sorry, its been bugging me all week.

[SkintHibby]

Is it possible Hearts could go bust half way through a season, lose their ground and their history and have to start up again in Div.3 in a ramshackle ground outside Edinburgh?

The roasters won't disappear so I'd like this scenario.:fenlon

[gringojoe]

Ian Murray, (I'm a MP), sums up new labour. Never mind fighting the con/dems and their policies lets do what is important to me.

[SMAXXA]

:agree::top marks

As a football club they lack grace, finesse, humility and class. I'm sure no other SPL club would make so many mentions of their rival - they really are a horrible little football team.

Honking management team, honking squad, honking stadium, honking fans by and large. Nae strips, free coaches (both football and vehicle varieties), getting tiny Borders football clubs to bail them out, painted steps make 'headlines', Jimmy Sandison.......so many reasons to dislike them. The only thing that makes me like them a wee bit is that they kept Dylan McGowan............because he's honking too :agree:

:faf::thumbsup:

[Heisenberg]

@SkySportsPeteO: Nottingham Forest have made a second bid for Hearts midfielder Jason Holt after seeing first bid rejected #nffc #hearts

[mutley]

BBC reporting that FOH sent in a bid

The Foundation of Hearts fans' group has become the first interested party to formally submit a takeover bid to the Edinburgh club's administrator.

And BBC Scotland understands that a Scandinavian group that has withdrawn from the bidding process is willing to work with whoever takes control.

Administrator BDO has set a 17:00 BST deadline on Friday for bid submissions.

HMFC Limited, backed by American group Club 9 Sports, is expected to also submit a bid to take over the club.

But it is understood that the Scottish-registered company have not been in recent dialogue with the administrator despite BDO having spoken to "three or four interested parties".

Hearts entered administration last month with debts of £25m - owed to companies formerly owned by Vladimir Romanov, who first invested in the club in 2005.

As a result, Gary Locke's team will start next season in the Scottish Premier League with a 15-point deduction.

Foundation of Hearts chairman Ian Murray said: "The bid is strong, credible and low risk. It provides a real opportunity for financial stability and a platform to grow the club we love again.

"At this point, we must respectfully be a little quieter than we have been to allow the Hearts administrators BDO to not only reflect on our bid but any other bids that come in from anyone else.

"Today may be the start of the next chapter in the remarkable history of Heart of Midlothian Football Club.

"But, whatever happens, this club's supporters will ensure it is a future as special as its past."

Murray thanked that "phenomenal Hearts support" as "this bid would not have been possible without you" and urged them to continue to contribute.

The foundation added that its proposal would take Hearts out of administration and, "with the ongoing backing of the supporter base, move towards a position of financial stability".

"Should this bid be accepted by BDO, it will allow the Foundation of Hearts to secure majority ownership over the club in a controlled fashion with support of the necessary capital to make today's bid strong and credible," it added.

Meanwhile, it is believed the Scandinavian group - made up of four Norwegians and two Swedes - would be interested in working with a new club owner despite not progressing with a bid of its own.

The group has taken a step back from the bidding process as it feels it would be wrong to get in the way of a fans-led offer.

However, it is open to looking at how it can contribute to the club in the future through either commercial or sponsorship channels.

[SMAXXA]

@SkySportsPeteO: Nottingham Forest have made a second bid for Hearts midfielder Jason Holt after seeing first bid rejected #nffc #hearts

Just had a look on wontbeback and they are all spewing about this, should be building a team around him and hes the best player we have etc, ahhhhh life is good :wink:

[Glory Lurker]

Just had a look on wontbeback and they are all spewing about this, should be building a team around him and hes the best player we have etc, ahhhhh life is good :wink:

Oh dear. It really is that bad, isn't it? :greengrin

[YehButNoBut]

On sky website as well, wonder who they'll get to replace him. :greengrin

http://www1.skysports.com/football/news/12691/8819639/Transfer-news-Nottingham-Forest-back-in-for-Hearts-Jason-Holt

[sidneyhibbie]

At last a 12th of July to celebrate as liquidation approaches!

This is History at last the game is finally over Sidney feels he hit the final nail right now into the yams coffin its good to be Hibbie.:aok:

[s.a.m]

This is from over the road, via the Bounce:

" First minister has dropped hint to Lithuania that no planning permission will be looked on favourably for The Saville Dome. "

Thoughts as to the credibility of this? And if it is credible, is it too late to tell them otherwise?:greengrin

[Glory Lurker]

This is from over the road, via the Bounce:

" First minister has dropped hint to Lithuania that no planning permission will be looked on favourably for The Saville Dome. "

Thoughts as to the credibility of this? And if it is credible, is it too late to tell them otherwise?:greengrin


None!

[Hibbyradge]

This is History at last the game is finally over Sidney feels he hit the final nail right now into the yams coffin its good to be Hibbie.:aok:

Not yet...

[CropleyWasGod]

This is History at last the game is finally over Sidney feels he hit the final nail right now into the yams coffin its good to be Hibbie.:aok:

Getting well ahead of yourself there, no?

[HibeeB]

None!

The quote came from Brokeback, so yer probably right :aok:

[Part/Time Supporter]

This is History at last the game is finally over Sidney feels he hit the final nail right now into the yams coffin its good to be Hibbie.:aok:

Wrong (again). You're almost as bad as Yams mixing up "credible" with "acceptable".

BDO will just put out a holding statement tomorrow evening saying that they've received bid(s) and they will have further discussions with creditors and bidders. Then after those initial discussions they will go into a process of selecting a preferred bidder. Tomorrow is a deadline for submitting a bid. It is not a deadline for final bids.

[Eyrie]

This is from over the road, via the Bounce:

" First minister has dropped hint to Lithuania that no planning permission will be looked on favourably for The Saville Dome. "

Thoughts as to the credibility of this? And if it is credible, is it too late to tell them otherwise?:greengrin

Not credible. If proven that Salmond was abusing his influence to protect a personal interest it would destroy him politically and wreck any chance he has with his referendum. And everything he and his party are doing right now is geared to winning that vote. The Yams are an irrelevance.

As regards the Save Hearts In Trouble bid, I can only assume that they have secured up front funding from somewhere (the McKie consortium or Ann Budge?) to be repaid from the pledges. Find it difficult to believe though that, even with such help, they can offer enough to acquire the property at a reasonable market value.

[greenginger]

Can there be a Preferred Bidder if they only get one bid ? :greengrin

[K-Zazu]

On sky website as well, wonder who they'll get to replace him. :greengrin

http://www1.skysports.com/football/news/12691/8819639/Transfer-news-Nottingham-Forest-back-in-for-Hearts-Jason-Holt


Taken from kickback - big player next season, but if the money's good then the moneys good. Forest are simply not a big club thogh


:faf:

[Wee Scottie Dug]

Getting well ahead of yourself there, no?

To be fair to him it's Friday lunchtime, so technically he is ahead of the majority of us!!

(Taking a leap that the 1st part of his username is his place of residence and not his name!) :greengrin

[CropleyWasGod]

To be fair to him it's Friday lunchtime, so technically he is ahead of the majority of us!!

(Taking a leap that the 1st part of his username is his place of residence and not his name!) :greengrin

I meant, he's ahead of himself with the Last Rites. As PTS suggests, Friday will be a disappointment to those who expect a death tomorrow.

[SurferRosa]

Taken from kickback - big player next season, but if the money's good then the moneys good. Forest are simply not a big club thogh


:faf:

Aye....' big ' clubs grab half the gate receipts from a minor league side and then compete for the Insolvency Cup to raise funds. They pay bills through bake sales and charity auctions. Big clubs fans believe the words of a shyster who`s advances had previously been rejected by ' wee ' teams. Big clubs are those who are now up **** creek and owing millions left, right and centre.

Nottingham Forest are only twice winners of the European Cup.......

That must be a wee cup for wee teams...

[Wee Scottie Dug]

I meant, he's ahead of himself with the Last Rites. As PTS suggests, Friday will be a disappointment to those who expect a death tomorrow.

Oh I knew what you meant , not sure I understood where SH was coming from though!

Patience does not appear to be one of his virtues!

[CropleyWasGod]

Oh I knew what you meant , not sure I understood where SH was coming from though!

Patience does not appear to be one of his virtues!

Ah ok.... sorry, it's late. :greengrin

[Dashing Bob S]

Aye....' big ' clubs grab half the gate receipts from a minor league side and then compete for the Insolvency Cup to raise funds. They pay bills through bake sales and charity auctions. Big clubs fans believe the words of a shyster who`s advances had previously been rejected by ' wee ' teams. Big clubs are those who are now up **** creek and owing millions left, right and centre.

Nottingham Forest are only twice winners of the European Cup.......

That must be a wee cup for wee teams...

Don't think you can compare two European Cups with two World Wars.

[fat freddy]

This is History at last the game is finally over Sidney feels he hit the final nail right now into the yams coffin its good to be Hibbie.:aok:



sidney, you remind me of a child who sneaks downstairs on christmas eve to have a sneaky look at their presents..they're all wrapped up waiting under the tree but you just cant resist a wee feel to see what might be inside them, you tear a bit of sellotape off to peer inside as you just cant contain your enthusiasm for the contents...you rip open a selection box and stuff yourself with smarties and maltesers even though you know too much will make you sick...you simply do not have the patience required to watch a football club you hate die, its a slow process that should be savoured like a 20 year old malt...slow down and enjoy the ride.

[FranckSuzy]

sidney, you remind me of a child who sneaks downstairs on christmas eve to have a sneaky look at their presents..they're all wrapped up waiting under the tree but you just cant resist a wee feel to see what might be inside them, you tear a bit of sellotape off to peer inside as you just cant contain your enthusiasm for the contents...you rip open a selection box and stuff yourself with smarties and maltesers even though you know too much will make you sick...you simply do not have the patience required to watch a football club you hate die, its a slow process that should be savoured like a 20 year old malt...slow down and enjoy the ride.

FranckSuzy likes this :thumbsup:

[Makaveli]

Even tonight, they're still saying things like "we don't need to sell" and "we currently have no cashflow problems."

This is a club bumming coppers off Selkirk; a club who couldn't afford to pay for their own transport to Leigh; a club who could very well cease to exist in the coming days/weeks.

Surely the roasters owe it to themselves :greengrin to take this all a bit more seriously.

[The Green Goblin]

This is History at last the game is finally over Sidney feels he hit the final nail right now into the yams coffin its good to be Hibbie.:aok:

Lovely stuff. Tell Sidney thanks from me. I've been waiting for another third person post from you for pages - tonight, I'll finally get a good night's sleep. Love it - :greengrin

[Craig_in_Prague]

well the fannies of hertz have submitted their "strong, credible and low risk" offer.

Nurse !!

[Hibs Class]

well the fannies of hertz have submitted their "strong, credible and low risk" offer.

Nurse !!

It was actually "headstrong, incredible and low" but they ran out of printer ink when running off the media release.

[RyeSloan]

Lovely stuff. Tell Sidney thanks from me. I've been waiting for another third person post from you for pages - tonight, I'll finally get a good night's sleep. Love it - :greengrin

Never thought I would see pages quoted as a length of time. SiMar likes this.

He was waiting for pages and pages until finally he got what he wanted ;-)

[Beefster]

...and when thing get tight, holidays approach, Xmas looms large, these DDs are easily and readily cancellable. They have all the weight and financial clout of a 1000 wispy feathers. Not worth the paper they are printed on. BDO must see through these "pledges" as gossamer-thin funding, likely to collapse at the first sign of financial stress or trouble.

And another thing.....(gets on top of high-horse).

In a post BDO insolvency event wrap-up, who in their right minds will extend any sort of credit funding to HMFC, FOH-led or otherwise. Every institution with a modicum of lending criteria or potential unsecured creditor/supplier intent on providing a service/goods must be asking for cash up front. Once we all see how the wee-guys will get stuffed in the CVA, nobody will want to offer any sort of terms to them. (gets down from a very big horse...)

I can't see BDO being remotely interested in how the bid is being funded longer-term. That's the problem of whoever is funding FoH. All BDO will be interested in is whether FoH have the ability to pay the money if and when the club/assets are sold.

[Hibbyradge]

Never thought I would see pages quoted as a length of time. SiMar likes this.

He was waiting for pages and pages until finally he got what he wanted ;-)

He's been waiting for pages and ages. :agree:

[steviehibsleith]

If FOH is the only bid submitted and is as pathetic as expected i dont See why BDO wont just announce liquidation immidiately. They announced the day after that it was the worse Football Administration they have seen.

[Northernhibee]

If FOH is the only bid submitted and is as pathetic as expected i dont See why BDO wont just announce liquidation immidiately. They announced the day after that it was the worse Football Administration they have seen.

Been the best from where I'm sitting.

[Bostonhibby]

Taken from kickback - big player next season, but if the money's good then the moneys good. Forest are simply not a big club thogh


:faf:

Obviously never been to the City Ground then, mind you its no Tynecastle, no wooden stand, tin / asbestos roof and I can't recall Forest ever making the papers because they painted a step or replaced a lightbulb - they probably just regard that as minimum maintenance or health & safety like everyone else - not Yam class.

[Leithenhibby]

If FOH is the only bid submitted and is as pathetic as expected i dont See why BDO wont just announce liquidation immidiately. They announced the day after that it was the worse Football Administration they have seen.


Been the best from where I'm sitting.

:greengrin :agree:


Not long now, one would think.......................

[CropleyWasGod]

If FOH is the only bid submitted and is as pathetic as expected i dont See why BDO wont just announce liquidation immidiately. They announced the day after that it was the worse Football Administration they have seen.

It's not up to them, that's why not.

[Treadstone]

I can't see BDO being remotely interested in how the bid is being funded longer-term. That's the problem of whoever is funding FoH. All BDO will be interested in is whether FoH have the ability to pay the money if and when the club/assets are sold.

If the bid is money up front and then instalments then surely BDO will be interested in its funding arrangement. A sizeable sum dependent on the whim of fickle fitba fans. I know it would be up to others to accept but I'm guessing they would ask BDO for advice and to answer any questions they may have.

[Beefster]

If the bid is money up front and then instalments then surely BDO will be interested in its funding arrangement. A sizeable sum dependent on the whim of fickle fitba fans. I know it would be up to others to accept but I'm guessing they would ask BDO for advice and to answer any questions they may have.

I'm not sure why the bid would be 'money up front and then instalments'. The instalments will be to repay the up front money (which will be used to buy the club/assets) to whoever is loaning it (i.e. FoH's backers). The direct debits disappearing quickly will be the funders' problem, not BDO's (who will be long gone by then).

Unless I'm fundamentally missing something, which is possible.

[21.05.2016]

Aye....' big ' clubs grab half the gate receipts from a minor league side and then compete for the Insolvency Cup to raise funds. They pay bills through bake sales and charity auctions. Big clubs fans believe the words of a shyster who`s advances had previously been rejected by ' wee ' teams. Big clubs are those who are now up **** creek and owing millions left, right and centre.

Nottingham Forest are only twice winners of the European Cup.......

That must be a wee cup for wee teams...

This just sums up how much of huge laughing stock, joke of a club that hearts really are, not to mention a great example of how utterly arrogant and deluded hearts fans are :faf:

Honestly, some of the things that the hearts fans have sprouted over the years has been beyond hilarious, my jambo mates have given me some brilliant side splitters over the years. Let me share their comedy with you, heres a few of my all time favourite yam quotes:

"Hearts will dominate the old firm"
"Hibs are too wee a team for hearts to be rivals with"
"Many hibs fans will become hearts fans due to our success'
"Administration is a good thing, we will come out stronger and debt free, it's the hobos and every other SPL club bar celtic that will suffer most"
"I have money on us to finish above the hobos and make Europe despite the -15 points"
"We left hibs behind"
"We killed hibs"
"Skacel would walk into any EPL team"
"Hearts are one of the biggest fanbases in the UK"
"5-1 sent shock waves around the world"
"Its inevitable that we will win the league especially with rangers out"


Believe me I could go on all day with more utterly ridiculous quotes from yams, my stomach hurts too much from laughing though! If you fancy more laughs just check out @thereal_romanov on twitter, the utter garbage he sprouts is hilarious, the guy is the height of cringeworthy and deeply deeply obsessed with hibs. Every 5 minutes its "oh but but shut up hobos, but but 5-1 eh 1902"

[21.05.2016]

If FoH bid was accepted, what would fan ownership actually mean? Has their been any good examples of when fan owned clubs have been successfull?

Sorry if this has been covered, it's a big thread and don't have time to read through it all :greengrin

[BarneyK]

If FoH bid was accepted, what would fan ownership actually mean? Has their been any good examples of when fan owned clubs have been successfull?

Sorry if this has been covered, it's a big thread and don't have time to read through it all :greengrin

Barcelona? Albeit on a less grand scale than the yams propose.

[Sanger]

Sit by the banks of the river long enough and you will see the bodies of your enemies float by!

[Seveno]

Barcelona? Albeit on a less grand scale than the yams propose.

Correct me if I am wrong, but I believe that Barcelona have massive debts.

[BarneyK]

Correct me if I am wrong, but I believe that Barcelona have massive debts.

Depends how you define successful of course.

[Jim44]

Even tonight, they're still saying things like "we don't need to sell" and "we currently have no cashflow problems."

This is a club bumming coppers off Selkirk; a club who couldn't afford to pay for their own transport to Leigh; a club who could very well cease to exist in the coming days/weeks.

Surely the roasters owe it to themselves :greengrin to take this all a bit more seriously.


The delusion is staggering. I read a post on KB saying that the best they could hope for next season was 8th or 9th place then a great leap the following season to challenge for 1st. This premise was heavily endorsed by many others.

[Hibercelona]

The delusion is staggering. I read a post on KB saying that the best they could hope for next season was 8th or 9th place then a great leap the following season to challenge for 1st. This premise was heavily endorsed by many others.

I used to take their delusions as a joke. These days I just think they're sick.

[JeMeSouviens]

The delusion is staggering. I read a post on KB saying that the best they could hope for next season was 8th or 9th place then a great leap the following season to challenge for 1st. This premise was heavily endorsed by many others.

They could be right with the second bit, although The Rangers will make it tough and they'll defo need to sack Golden Gary ...

[Andy74]

The delusion is staggering. I read a post on KB saying that the best they could hope for next season was 8th or 9th place then a great leap the following season to challenge for 1st. This premise was heavily endorsed by many others.

That Murray from FoH seems to think the same, scrape a place in the Premiership next year and then the future is bright. How that suddenly becomes the case I'm not sure.

[21.05.2016]

Barcelona? Albeit on a less grand scale than the yams propose.

Pfft Barcelona just another "wee team" compared to the giant "big team" that is hearts don't you know. . .

[Sanger]

Correct me if I am wrong, but I believe that Barcelona have massive debts.

But unlike the Jambos they have massive revenue streams through sponsorship, TV money and 90,000 season ticket sales that can service and pay down the debt.

[Hibercelona]

But unlike the Jambos they have massive revenue streams through sponsorship, TV money and 90,000 season ticket sales that can service and pay down the debt.

90,000?

That's not even a quarter of what Hearts will bring every other week to Tynecastle next season. Every game is going to be like a cup final mind....

[Kojock]

Honestly, some of the things that the hearts fans have sprouted over the years has been beyond hilarious, my jambo mates have given me some brilliant side splitters over the years. Let me share their comedy with you, heres a few of my all time favourite "

The most ludicrous quote of them all is "My Jambo mates" why would anyone befriend any of those inbreds.

[21.05.2016]

I used to take their delusions as a joke. These days I just think they're sick.

Agreed. Its very hard to imagine that someone who is not seriously mentally impaired would believe Vlads lies and come up with the utterly ridiculous delusions they have.

[21.05.2016]

On keekback they are all kissing each others ***** going on about how their "wonderful fans" will save the club. Wonderful eh? They have allowed this too happen, happy to go along with Vlads fantasy world based on utter lies instead. Amazed by their lack of protest and fight tbh and astonishingly, despite the utter **** hole they are in they still believe all is rosey and still giving it the Big in "we are the big team" "5-1" "We will soon be debt free and challenging for the league".

Never come across such a ridiculous, pathetic set of supporters.

[JeMeSouviens]

I'm not sure why the bid would be 'money up front and then instalments'. The instalments will be to repay the up front money (which will be used to buy the club/assets) to whoever is loaning it (i.e. FoH's backers). The direct debits disappearing quickly will be the funders' problem, not BDO's (who will be long gone by then).

Unless I'm fundamentally missing something, which is possible.

Because they can't get their grubby paws on anywhere near a realistic level of capital just now?

[JeMeSouviens]

On keekback they are all kissing each others ***** going on about how their "wonderful fans" will save the club. Wonderful eh? They have allowed this too happen, happy to go along with Vlads fantasy world based on utter lies instead. Amazed by their lack of protest and fight tbh and astonishingly, despite the utter **** hole they are in they still believe all is rosey and still giving it the Big in "we are the big team" "5-1" "We will soon be debt free and challenging for the league".

Never come across such a ridiculous, pathetic set of supporters.

I think the Huns probably shade it. They actually let their club die and then let their new one slip into the hands of some seriously shady shysters.

[Hibercelona]

I think the Huns probably shade it. They actually let their club die and then let their new one slip into the hands of some seriously shady shysters.

Hearts haven't had the opportunity to make the same mistake twice yet. But you can be certain that they'll follow follow in The Rangers footsteps.

[21.05.2016]

Hearts haven't had the opportunity to make the same mistake twice yet. But you can be certain that they'll follow follow in The Rangers footsteps.

As like most things, hearts will copy their big hun pals.

[green glory]

But unlike the Jambos they have massive revenue streams through sponsorship, TV money and 90,000 season ticket sales that can service and pay down the debt.

90,000?

The Zombies have apparently sold 29,000 ST's for next season. I think that's 10,000 down on their first season's. Ouch.

[Gus Fring]

I've heard BDO expect at least one more bid before close of business today, all hopes are currently pinned on that materialising. I don't know what the FOH offer is as BDO aren't telling any Hearts employees at this time. I get the impression that unless it was hugely improved over what has been touted previously then they'll be starting up the liquidiser.

[21.05.2016]

I've heard BDO expect at least one more bid before close of business today, all hopes are currently pinned on that materialising. I don't know what the FOH offer is as BDO aren't telling any Hearts employees at this time. I get the impression that unless it was hugely improved over what has been touted previously then they'll be starting up the liquidiser.

How long until we hear what the accepted bid is?

If no bids are successful what will that mean for hearts?

[Sanger]

:cb
I've heard BDO expect at least one more bid before close of business today, all hopes are currently pinned on that materialising. I don't know what the FOH offer is as BDO aren't telling any Hearts employees at this time. I get the impression that unless it was hugely improved over what has been touted previously then they'll be starting up the liquidiser.
That must be from Boab the shoe salesman advised by cooncil fraud-steer. Does anyone think this will amount to serious money upfront?

[Pedantic_Hibee]

In The Rangers defence, their fans didn't have much time to mobilise. Everything kinda came out of the blue.

Fans of Hearts have known this would happen for at least five years and did NOTHING to prevent it.

[Deansy]

The delusion is staggering. I read a post on KB saying that the best they could hope for next season was 8th or 9th place then a great leap the following season to challenge for 1st. This premise was heavily endorsed by many others.

it's understandable, though. A large section of their fans have been brought up supporting a false-image - they've never seen their club at it's true-level. The fact they're (maybe) going to find out soon EXACTLY what they're really like - without the money/mercenaries - is one of the reasons I want them to survive. 30+ years of their 'Finance-Football' business model deserves pay-back in the most hurtful, agonising ways - on the pitch and getting ripped a new-one in each and every game. The pictures of their fans greeting buckets in 1986 on 'Sir Albert Kidd' day still gives me that warm, happy-as-****** feeling - this season should see similar images becoming the weekly-norm !!!

[21.05.2016]

In The Rangers defence, their fans didn't have much time to mobilise. Everything kinda came out of the blue.

Fans of Hearts have known this would happen for at least five years and did NOTHING to prevent it.

Rangers still seemed to do a hell of a lot more than that gutless, pathetic bunch in gorgie!

[jdships]

Met up yesterday with an old mate , a Jambo , who signed a DD for £30 a month.
His take on it is he will go along with it until a new owner is in place or at worst until 31st December and then he is withdrawing .
I understand his loyalty in signing up and think his plan is probably the best way for all those who are committed .
The new owners have to run Hearts as a business not a plaything

Time will tell

[21.05.2016]

Met up yesterday with an old mate , a Jambo , who signed a DD for £30 a month.
His take on it is he will go along with it until a new owner is in place or at worst until 31st December and then he is withdrawing .
I understand his loyalty in signing up and think his plan is probably the best way for all those who are committed .
The new owners have to run Hearts as a business not a plaything

Time will tell

I know a few jambos that have been quite wary over signing up a DD for FoH.

[Gus Fring]

How long until we hear what the accepted bid is?

It'll take a few days at least.


If no bids are successful what will that mean for hearts?

They'll be liquidated as that would then be the only way to recover anything for the creditors. I personally think this is what anyone who wants to own Hearts is waiting for. Pick up the football side of stuff cheaper and have a ready made brand to start a new team with.

:cb
That must be from Boab the shoe salesman advised by cooncil fraud-steer. Does anyone think this will amount to serious money upfront?

Apparently FOH have been saying they've gotten loans from businessmen which will be paid back using a % of the monthly donations. This hasn't been heavily publicised as it essentially means Hearts would be in debt from the 1st second of this new ownership and the pitch for donating to FOH was that all the money would be put towards running the club.

As I've said before, general consensus is that FOH are a mickey mouse outfit who change their minds every 5 minutes but they have to be entertained because they're would be uproar otherwise

[CropleyWasGod]

How long until we hear what the accepted bid is?

If no bids are successful what will that mean for hearts?

It will be some time before we get anywhere near an "accepted" bid. BDO don't have the power to accept a bid.

If there is an "acceptable" (cf accepted) bid, that bidder will be given preferential status. An announcement on that would happen, I would expect, next week. After that, the bidder would do their due diligence, and BDO do their due diligence on the bidder.

If the bid is based on a CVA, that process will take a few weeks to organise. If it's based on an asset sale, the timescale will be much shorter.

In either case, it will be a while before anything is accepted.

[Gus Fring]

Met up yesterday with an old mate , a Jambo , who signed a DD for £30 a month.
His take on it is he will go along with it until a new owner is in place or at worst until 31st December and then he is withdrawing .
I understand his loyalty in signing up and think his plan is probably the best way for all those who are committed .
The new owners have to run Hearts as a business not a plaything

Time will tell

The bit in bold is the biggest flaw in the FOH's plan. Football fans have a tendency to be incredibly reactive.

Say Hearts got pumped from us in the first Derby. Some fair weather fans would cancel their Direct Debits.

Say Hearts get to December and are rooted to the bottom of the league. More fair weather fans would cancel their Direct Debits.

Say Hearts get relegated, Even more fair weather fans would cancel their Direct Debits.

It's way more likely they'll lose donations than they'll gain them.

[Treadstone]

I'm not sure why the bid would be 'money up front and then instalments'. The instalments will be to repay the up front money (which will be used to buy the club/assets) to whoever is loaning it (i.e. FoH's backers). The direct debits disappearing quickly will be the funders' problem, not BDO's (who will be long gone by then).

Unless I'm fundamentally missing something, which is possible.

I think we are agreeing. I'm just suggesting that BDO wouldn't advise accepting a suitable bid that depended on thousands of A N Others keeping up their non legal agreement Direct Debits.

[jdships]

I know a few jambos that have been quite wary over signing up a DD for FoH.

Would appear to be so as my friend admitted for both him and his three mates who signed up it was very much a " knee jerk" thing .
Seems too that few wives are not happy with "throwing good money after bad " ( my pals wife's comment !!!!!!!!!!!)
:rolleyes:

[hibseleven]

just had a message from a Morton supporting friend of mines who claims Neil Doncaster was at Cappielow on Tuesday evening checking out facilities. Waiting to see what else he can tell me.

[Heisenberg]

Sky Sports Scotland‏@ScotlandSky30s (http://www.hibs.net/ScotlandSky/status/355643751517011968)Sky Sources understand Hearts have rejected a second bid from Nottingham Forest for Jason Holt.

[steakbake]

just had a message from a Morton supporting friend of mines who claims Neil Doncaster was at Cappielow on Tuesday evening checking out facilities. Waiting to see what else he can tell me.

Maybe he had to stop in for a Lillian Gish on his way to another meeting?

I would have thought the Cappielow facilities are good enough. If Ross County can come up to scratch, I'm sure Greenock Morton can.

Edit: seems they already have had it in mind:

http://www.greenocktelegraph.co.uk/sport/morton/articles/2013/03/29/451922-exclusive-morton-reveal-pound750k-stadium-plans/

[Judas Iscariot]

Sky Sports Scotland‏@ScotlandSky30s (http://www.hibs.net/ScotlandSky/status/355643751517011968)Sky Sources understand Hearts have rejected a second bid from Nottingham Forest for Jason Holt.

How can BDO be doing their job properly if they're rejecting income?!

[BarneyK]

Sky Sports Scotland‏@ScotlandSky30s (http://www.hibs.net/ScotlandSky/status/355643751517011968)Sky Sources understand Hearts have rejected a second bid from Nottingham Forest for Jason Holt.

I guess it makes sense that they don't want to appear to be holding a fire sale just as they're trying to find a buyer.

[CropleyWasGod]

How can BDO be doing their job properly if they're rejecting income?!

There are 3 potential reasons:-

1. they may be holding out for a higher bid.

2. they have to make sure that there is a team in place for the start of the season.

3. they have to keep some semblance of a team, to maximise any potential offers.

All of these would, I suggest, be them "doing their job properly."

[grunt]

Sky Sports Scotland‏@ScotlandSky30s (http://www.hibs.net/ScotlandSky/status/355643751517011968)Sky Sources understand Hearts have rejected a second bid from Nottingham Forest for Jason Holt.It would be interesting to know how much that bid was...

[Judas Iscariot]

There are 2 rational reasons:-

1. they may be holding out for a higher bid.

2. they have to make sure that there is a team in place for the start of the season.


I see...

Re. point 1, is the risk of putting Notts off altogether not a greater worry than a lower fee?

Re. point 2, with no cash there won't be a team anyway?!

[SquashedFrogg]

It would be interesting to know how much that bid was...

A lot less than the yams £1m guesstimate I'd suspect. Probs around 150k is my guess based on the fact that they are not really in a position to play hardball..

[lord bunberry]

I see...

Re. point 1, is the risk of putting Notts off altogether not a greater worry than a lower fee?

Re. point 2, with no cash there won't be a team anyway?!

There's not been any appeals for cash lately so I presume they've got enough money to keep them going for the time being

[CropleyWasGod]

I see...

Re. point 1, is the risk of putting Notts off altogether not a greater worry than a lower fee?

Re. point 2, with no cash there won't be a team anyway?!

On 1, it's a gamble sure, but by accepting the first or second bid, that's putting out a signal that all players can be bought for pennies.

On 2, by all accounts they do have cash to make it to the start of the season. IIRC, Trevor Birch said they have enough to make it to Christmas.

[Treadstone]

It would be interesting to know how much that bid was...

I'm taking it as Forest letting Holt know the score before he TUPEs over to a Newco.

[Judas Iscariot]

On 1, it's a gamble sure, but by accepting the first or second bid, that's putting out a signal that all players can be bought for pennies.

On 2, by all accounts they do have cash to make it to the start of the season. IIRC, Trevor Birch said they have enough to make it to Christmas.

Cheers :aok:

On another note..

Does anyone know why NONE of their preseason games have been played at the Saville-dome?!

:confused:

[Hibee87]

Cheers :aok:

On another note..

Does anyone know why NONE of their preseason games have been played at the Saville-dome?!

:confused:

Same reason as NONE of ours have been played at E.R :confused:

[SquashedFrogg]

I'm taking it as Forest letting Holt know the score before he TUPEs over to a Newco.

This...

I suspect the vultures have been circling for a while and are beginning to decend/make their presence known to certain players...

Loving it

[Dashing Bob S]

It would be interesting to know how much that bid was...

"I'm given to believe its a high four figure sum."

[SquashedFrogg]

Same reason as NONE of ours have been played at E.R :confused:

Preseason games are generally gash and a waste of money. Trips away can be fun but home games are normally dull.

Perhaps only having euro games at er will generate more interest and increased attendance/income?

Dunno?

[BarneyK]

"I'm given to believe its a high four figure sum."

£9,999? :dunno: He's no worth that much surely.

[Treadstone]

"I'm given to believe its a high four figure sum."

STV understands £75k. I'm not surprised its been knocked back, that is a bit low. Holt looks decent to me.

[Lester B]

I'm taking it as Forest letting Holt know the score before he TUPEs over to a Newco.

Would he TUPE over automatically? There would be some dubiety here at least surely. Can anyone remember what the situation re TUPE and Rangers was?

[BarneyK]

Cheers :aok:

On another note..

Does anyone know why NONE of their preseason games have been played at the Saville-dome?!

:confused:

It's an unnecessary cost, especially if you can get the other side to split the gate with you anyway at their ground.


Would he TUPE over automatically? There would be some dubiety here at least surely. Can anyone remember what the situation re TUPE and Rangers was?

Aye, Sevco done whatever they wanted regardless of other folks' perception of the rules. :aok:

[Dashing Bob S]

STV understands £75k. I'm not surprised its been knocked back, that is a bit low. Holt looks decent to me.

They are probably waiting for them to go to 90k so they can exaggerate and claim it was 100k or better, a "six figure sum".

That poor big team. What happened to those CL wins, World Cup stars, new stands and fanbase of 400,000? It seems so long ago now...it's almost like it never really happened.

[Hibee87]

Would he TUPE over automatically? There would be some dubiety here at least surely. Can anyone remember what the situation re TUPE and Rangers was?

I think rangers players had the option to move accross or walk away, I Cant remember who walked but a couple did and went to england, then did rangers not say they were unable to play pending a court hearing as they were trying to claim they were duy compo of some sorts :confused:

[Judas Iscariot]

Same reason as NONE of ours have been played at E.R :confused:

And that is?

[Lester B]

I think rangers players had the option to move accross or walk away, I Cant remember who walked but a couple did and went to england, then did rangers not say they were unable to play pending a court hearing as they were trying to claim they were duy compo of some sorts :confused:

Thanks!:aok: So it wasn't an actual TUPE situation, thought not. Couldn't really be as sevco was a new company although they could make a claim that they had the assets of the previous company i.e. Greyskull, so could attempt a challenge that it was a related undertaking. If HMFC do liquidate and sell PBS they wouldn't even have that straw to cling to so it would be a blank slate in terms of new employment contracts. The entire squad, what is left of it, could choose to walk.

Probably not the biggest worry they have at the moment mind you!:greengrin

[Hibee87]

And that is?

Sorry just re read my post and realised it is slightly confusing as if I knew............

what I meant to say was NONE of ours have been at home either.

[ScottB]

I think rangers players had the option to move accross or walk away, I Cant remember who walked but a couple did and went to england, then did rangers not say they were unable to play pending a court hearing as they were trying to claim they were duy compo of some sorts :confused:

Think they took Whittaker, Naysmith and others to court over it. Nothing happened.

[JeMeSouviens]

NewHuns lost the TUPE case and ended up with only a legal bill to show for their efforts:

http://scotslawthoughts.wordpress.com/2013/04/05/guess-who-has-been-ordered-to-pay-legal-costs-of-5-players-with-whom-it-was-in-dispute/#more-3437

[BarneyK]

NewHuns lost the TUPE case and ended up with only a legal bill to show for their efforts:

http://scotslawthoughts.wordpress.com/2013/04/05/guess-who-has-been-ordered-to-pay-legal-costs-of-5-players-with-whom-it-was-in-dispute/#more-3437

Pleasing :party:

[Hibbyradge]

And that is?

I think we have to pay for decent teams to play at Easter Road and there's the policing costs etc too.

We don't get big enough crowds to cover those expenses.

We either break even or make a few bob when we play away.

[Gus Fring]

I think we have to pay for decent teams to play at Easter Road and there's the policing costs etc too.

We don't get big enough crowds to cover those expenses.

We either break even or make a few bob when we play away.

:agree: The added bonus is it gives the newly relaid pitch time to bed in

[Springbank]

:agree: The added bonus is it gives the newly relaid pitch time to bed in

Tells a story about the traditions of the two teams

Hibs hold off to let the pitch settle, as the ball will spend time there

Hearts hold off to give the old stand roof some respite...

[Onion]

Tells a story about the traditions of the two teams

Hibs hold off to let the pitch settle, as the ball will spend time there

Hearts hold off to give the old stand roof some respite...

As the wrecking ball will be visiting shortly ;)

[Judas Iscariot]

I think we have to pay for decent teams to play at Easter Road and there's the policing costs etc too.

We don't get big enough crowds to cover those expenses.

We either break even or make a few bob when we play away.

I see..

I was hoping there was an issue with their ground... Main stand safety certificate for example :cb

[Moon unit]

Is there any truth that the FOH bid was in a box containing shiny beads,mirrors and fools gold. Ian Murray ....M.P! Was last seen dressed as Christopher Columbus on the Gorgie Rd looking for the BDO natives situated on the shores of the PBS!....:confused:

Apparently he exchanged his box of trinkets for Big chief BDO's daughter...Poka-Hun-Tis !!!..

[hibeedonald]

On 1, it's a gamble sure, but by accepting the first or second bid, that's putting out a signal that all players can be bought for pennies.

On 2, by all accounts they do have cash to make it to the start of the season. IIRC, Trevor Birch said they have enough to make it to Christmas.

Can see a lot of young Hearts fans missing out on their Christmas presents if that's when they next go begging again.

[PatHead]

Hope the SFA take such a hard line. http://www.bbc.co.uk/sport/0/football/23259898

[Gus Fring]

No new bids yet, for anyone wondering.

[CyberSauzee]

The bit in bold is the biggest flaw in the FOH's plan. Football fans have a tendency to be incredibly reactive.

Say Hearts got pumped from us in the first Derby. Some fair weather fans would cancel their Direct Debits.

Say Hearts get to December and are rooted to the bottom of the league. More fair weather fans would cancel their Direct Debits.

Say Hearts get relegated, Even more fair weather fans would cancel their Direct Debits.

It's way more likely they'll lose donations than they'll gain them.

You're right. FoH are a confused bunch with no clear aim of what they are trying to do.

They're going on about membership schemes that mimic European giants like Bayern, Real Madrid, Barca, Benfica, etc. The difference is that all of these schemes require you to pay your money up front, then you're a member for the year.

FoH are requiring income per month on an on-going basis, and as you and countless others have pointed out, this income can dry up literally overnight if enough DDs are cancelled. There is no contract, so how can you base a business model on a non-guaranteed income stream?

[YehButNoBut]

No new bids yet, for anyone wondering.

There's a thread on Keekback where they're all bricking it as someone has it on good authority that a consortium led by Massone has submitted an offer to BDO today.

Hopefully true and it trumps the FOH bid to become preferred bidder.

http://www.hmfckickback.co.uk/index.php?/topic/130306-massone/

[Hibby70]

I think they started this without really expecting to win the bid. Murray will be crapping himself right now.

[Keith_M]

No new bids yet, for anyone wondering.


I'm using my E-Bay tactics and only bidding at 16:59.






p.s. That is also the VALUE of my bid.

[Bad Martini]

#allisbarry :cool:

[Gus Fring]

There's a thread on Keekback where they're all bricking it as someone has it on good authority that a consortium led by Massone has submitted an offer to BDO today.

Hopefully true and it trumps the FOH bid to become preferred bidder.

http://www.hmfckickback.co.uk/index.php?/topic/130306-massone/

Apparently there's no truth in that. My understanding is that if Massone did bid then BDO would tell him to bolt anyway due to his past dealings.


I'm using my E-Bay tactics and only bidding at 16:59.

This is obviously a joke but it's disconcerting the number of people who actually think this process works like an auction. Where if someone bid £5m then BDO would release a statement saying "Anyone going to offer 6?"

There are also those who honestly believe that BDO have to accept whatever is offered to them if there is only one bidder. That bid has to be more favourable in terms of a return for the creditors than liquidation and I really can't see how the FOH can get close unless they've had a significant cash injection in the last week

[Leishy1995]

I've seen the famous @thejamieryan tweet sir rod telling him that FoH are the only bidders. I bloody hope so

[haagsehibby]

Hope the SFA take such a hard line. http://www.bbc.co.uk/sport/0/football/23259898

"Joel should have told us but he never knew because he was in prison." :greengrin

[Gus Fring]

Club 9 Sports have bid, this is the one BDO were hoping for. They aren't expecting any more.

[Moulin Yarns]

Still 15 minutes to deadline, tock, tick

[BarneyK]

Club 9 Sports have bid, this is the one BDO were hoping for. They aren't expecting any more.

Worth noting Club 9's blether on the Sevco affair and consider whether they view the yams in the same way -


"In the statement, Club 9 said: ‘We understand that it has been strongly rumoured that our group planned to “liquidate” the club. It should be made clear that any party that attempts to acquire the club, eliminate the debts, affect a turnaround, invest monies and put the club back on solid ground is in fact “saving” the club from liquidation and preserving its past and its future.
‘In an asset purchase, all of the good and valuable assets (records, marks, names, trophies, players, staff, history) are preserved and separated from the bad and harmful liabilities (tax bills, bad contracts, creditors), which have put the club into administration and which act to force the entirety into liquidation.
‘By putting all of the assets into a different corporate structure, the assets are, in fact, rescued from liquidation. Such a transaction would be very similar to the one that occurred at Leeds United in 2007, which simultaneously rescued that club, maintained its proud history and allowed the club to shed its debt burden so that it could have the opportunity for future success.’"

[The Falcon]

I've seen the famous @thejamieryan tweet sir rod telling him that FoH are the only bidders. I bloody hope so


They may well be as it appears that other interested parties are stepping aside with, I suspect, the view that then Hearts minded individuals will not be bidding against each other and hopefully the bidder will pick up the whole shooting match for the minimum outlay. Once the fuds have secured ownership then other interested parties will collude with the new (skint) owners as to how best to take it forward having shafted the Liths.

I suspect that is the cunning plan.

[joe breezy]

They may well be as it appears that other interested parties are stepping aside with, I suspect, the view that then Hearts minded individuals will not be bidding against each other and hopefully the bidder will pick up the whole shooting match for the minimum outlay. Once the fuds have secured ownership then other interested parties will collude with the new (skint) owners as to how best to take it forward having shafted the Liths.

I suspect that is the cunning plan.

Why would the Lithuanians accept a paltry offer when they can liquidate and sell the ground for more?

[BarneyK]

This from The Herald in 2012 :greengrin

Club 9 Sports describe their approach as seeking to revive struggling companies "through cost-cutting and aggressive sales and marketing". Their most recent venture was the purchase of Quad City Mallards, a minor league professional ice hockey team based in Illinois. The Mallards went out of business for almost one month last year until Club 9 Sports rescued them, but there have been setbacks since, including the late payment of player wages.

"We did have a cash crunch, which is not unusual when you deal with an entity that's been losing a lot of money," Pritchett told the local press. "For a couple of days, we had a payroll shortage, but we rectified that. It was kind of a blip, and we got caught without games and other expenses. In our view, it's not a big deal. It's just the ugliness of a turnaround."

The Mallards have grown attendance and revenue figures, and the performance of the team has improved, although investment has been modest. Club 9 Sports claim to be connected to 24 sporting clubs or organisations, although many seem due to the historical involvement of the 75-year-old Carl Scheer, a vastly experienced administrator and executive in US sports, as a senior advisor.

http://www.heraldscotland.com/sport/football/if-at-first-you-dont-succeed-try-and-buy-again.17090270

[YehButNoBut]

3 bids in for Hearts seemingly.

http://sport.stv.tv/football/clubs/hearts/232692-administrators-receive-three-bids-to-buy-hearts-as-buyer-deadline-passes/

Administrators BDO have received three bids from potential buyers for Heart of Midlothian.

Joint administrators Bryan Jackson and Trevor Birch set Friday, July 12, as a deadline for interested parties to submit their proposals to buy Hearts.

The club, which is in debt to the tune of £25m, entered administration on June 19 and BDO will now assess the bids to establish which could deliver a CVA. Fan-backed Foundation of Hearts submitted their offer on Thursday, having gained monthly contributions from more than 5000 supporters of the Tynecastle side. STV understands the two bids received on Friday include one from an American-backed group and another unnamed bidder who has not previously been revealed in the media.

Mr Jackson said he would hold further discussions with bidder and the administrators of Ukio Bankas and was "unable to put timescale on announcing preferred bidder."

Hearts' ownership is complex, with insolvent bank Ukio Bankas having a claim to 29.9% of the company, plus Tynecastle Stadium. Ukio is owed £10m by Hearts.
Meanwhile the club's former holding company, UBIG, has 50% of the shareholding and is owed £10m. UBIG has declared insolvency in Lithuania but bankruptcy practitioners have yet to be appointed to the firm.

Until the insolvency process begins at UBIG, the assets are frozen and the 50% shareholding in Hearts cannot be obtained by BDO to sell as part of the CVA.
Meanwhile the capital club also announced season ticket sales had passed the 10,000 mark, having bought over 3,000 briefs in the past three weeks.

[The Falcon]

Why would the Lithuanians accept a paltry offer when they can liquidate and sell the ground for more?

They shouldnt but we dont know if there have been any offers for the ground. They will probably take the best offer that is made.

[Springbank]

They shouldnt but we dont know if there have been any offers for the ground. They will probably take the best offer that is made.

Has the ground as a piece of property (no hoofball club attached) been advertised yet?

[Sanger]

They shouldnt but we dont know if there have been any offers for the ground. They will probably take the best offer that is made.
They can't really gauge that without going into liquidation although BDO's ads will have brought out some indications if that route will raise more the FOH and any other bids. That is what Ukio and UBIg will compare in weighing up their options. Any developer will bid significantly more real upfront than FOH or other bids but still be picking up a bargain.

[Gus Fring]

Hmmm. My source is still only aware of 2 bidsas of about 4:50. Either the third was very late or BDO are falsely inflating the number.

[joe breezy]

They shouldnt but we dont know if there have been any offers for the ground. They will probably take the best offer that is made.

What knowledge or source is this based on? Why will they not get the best deal for creditors? As has been discussed before this is a different case to sevco

[YehButNoBut]

Hmmm. My source is still only aware of 2 bidsas of about 4:50. Either the third was very late or BDO are falsely inflating the number.

States 3 bids on Hearts website also.

http://www.heartsfc.co.uk/articles/20130712/deadline-for-bids-passes_2241384_3236194

[Keith_M]

Good news guys, BDO have just been in touch and the last minute hibs.net bid was the highest offer. We're now preferred bidders.



I TOLD you £3.75 and a bag of liquorice allsorts would be enough!


:na na:

[Onion]

Hmmm. My source is still only aware of 2 bidsas of about 4:50. Either the third was very late or BDO are falsely inflating the number.

:agree: Given the high esteem the Global population holds the Yams for doing the double in World Wars and single-handedly saving the whole of Scottish Football, it would have just been embarrassing if only ONE or even TWO bidders expressed an interest in saving this great institution. THREE sounds like a full house and allows DBO to continue their charade of the Yams being saveable.

Watch the surprise & mysterious bidders melt away once BDO are quizzed further and for FOH to become the front runner :greengrin

[Leishy1995]

Sky sports reporting 3 bids

[Seveno]

Good news guys, BDO have just been in touch and the last minute hibs.net bid was the highest offer. We're now preferred bidders.



I TOLD you £3.75 and a bag of liquorice allsorts would be enough!


:na na:

Awww, you mean you have pledged our full resource of liquorice allsorts for that heap of s**t. That's the last time you get near the keys of the safe.

[Waxy]

So 1 is the FOH.
2 is club 9.
Who is bid 3 from?

Hmmmm mysterious

[Makaveli]

SSN saying Massone. Why don't Hearts just say?

[Dunderhall]

They may well be as it appears that other interested parties are stepping aside with, I suspect, the view that then Hearts minded individuals will not be bidding against each other and hopefully the bidder will pick up the whole shooting match for the minimum outlay. Once the fuds have secured ownership then other interested parties will collude with the new (skint) owners as to how best to take it forward having shafted the Liths.

I suspect that is the cunning plan.
That would be a turnip for the books then.

Unless FoH have acquired more upfront capital then a big risk they may not be the preferred bid.

However it's just the opening round, it doesn't mean that any party can't up their bid at this stage after the initial assessment by BDO as far as I understand it.
Maybe they do have extra funds to call on.

Quite funny though if they succeeded and they ended up not as the majority shareholder after all this.


So 1 is the FOH.
2 is club 9.
Who is bid 3 from?

Hmmmm mysterious
I heard the 3rd bid was the imperial war museum in London in recognition of their efforts in winning both WWs.
they plan to move the main stand down to London as part of their collection to help recind the "YAMs go home" talk from WWII.
no coincidence it's closed until 29th July, and new gallery space opens next year. :cb

Maybe Donald Trump getting one over on Alex Salmond.

[brog]

So 1 is the FOH.
2 is club 9.
Who is bid 3 from?

Hmmmm mysterious


If 1 bid is from club 9 that completely contradicts their assertion the other day that they were Yam fans & would leave a clear path for FoH. They probably saw the FoH bid & realised it was a complete farce with no chance of succeeding. If the 3rd bid is from Massone I can see the Liths pulling the plug sharpish!

[nribs]

If 1 bid is from club 9 that completely contradicts their assertion the other day that they were Yam fans & would leave a clear path for FoH. They probably saw the FoH bid & realised it was a complete farce with no chance of succeeding. If the 3rd bid is from Massone I can see the Liths pulling the plug sharpish! I thought Club 9 were the caravaner and Americans? I think it was the Scandinavians who pulled out as the didn't want to work against FOH?

[Dashing Bob S]

3 bids in for Hearts seemingly.

http://sport.stv.tv/football/clubs/hearts/232692-administrators-receive-three-bids-to-buy-hearts-as-buyer-deadline-passes/

Administrators BDO have received three bids from potential buyers for Heart of Midlothian.

Joint administrators Bryan Jackson and Trevor Birch set Friday, July 12, as a deadline for interested parties to submit their proposals to buy Hearts.

The club, which is in debt to the tune of £25m, entered administration on June 19 and BDO will now assess the bids to establish which could deliver a CVA. Fan-backed Foundation of Hearts submitted their offer on Thursday, having gained monthly contributions from more than 5000 supporters of the Tynecastle side. STV understands the two bids received on Friday include one from an American-backed group and another unnamed bidder who has not previously been revealed in the media.

Mr Jackson said he would hold further discussions with bidder and the administrators of Ukio Bankas and was "unable to put timescale on announcing preferred bidder."

Hearts' ownership is complex, with insolvent bank Ukio Bankas having a claim to 29.9% of the company, plus Tynecastle Stadium. Ukio is owed £10m by Hearts.
Meanwhile the club's former holding company, UBIG, has 50% of the shareholding and is owed £10m. UBIG has declared insolvency in Lithuania but bankruptcy practitioners have yet to be appointed to the firm.

Until the insolvency process begins at UBIG, the assets are frozen and the 50% shareholding in Hearts cannot be obtained by BDO to sell as part of the CVA.
Meanwhile the capital club also announced season ticket sales had passed the 10,000 mark, having bought over 3,000 briefs in the past three weeks.



This is crux of the matter. The rest is just piss and wind. Hearts are running out of time. What the Doncaster's of this world have to decide is: can they let them participate this season under these circumstances?

[SaulGoodman]

If it's Massone, surely FOH are the yams only hope?

[CropleyWasGod]

If 1 bid is from club 9 that completely contradicts their assertion the other day that they were Yam fans & would leave a clear path for FoH. They probably saw the FoH bid & realised it was a complete farce with no chance of succeeding. If the 3rd bid is from Massone I can see the Liths pulling the plug sharpish!

It was the Scandinavian Jambos that withdrew.

Club 9 are the ones with Bob Jamieson. Initially reported as a NewCo proposal, but I'm not so sure now.

Bid 3 may be the one that I feared.... the late runner, under the radar, a la Charlie Green.

[brog]

I thought Club 9 were the caravaner and Americans? I think it was the Scandinavians who pulled out as the didn't want to work against FOH?

Sorry, it's all very complex!:greengrin You may be correct but I thought Peebles Boaby had also said something along the lines of working with FoH. This has been a great close season but ma heid is now officially nippin!

[CropleyWasGod]

[/B]

This is crux of the matter. The rest is just piss and wind. Hearts are running out of time. What the Doncaster's of this world have to decide is: can they let them participate this season under these circumstances?

It's also bulldust. The media keep repeating the line that the shares will somehow be defrosted when UBIG goes into administration. I can't see why that follows.

[Seveno]

Bryan Jackson was just on Reporting Scotland referring to UBIG as a bank and that they were trying to talk to the current Directors.

Do BDO know what they are doing ?

[Bostonhibby]

Would appear to be so as my friend admitted for both him and his three mates who signed up it was very much a " knee jerk" thing .
Seems too that few wives are not happy with "throwing good money after bad " ( my pals wife's comment !!!!!!!!!!!)
:rolleyes:

Brother in Law is a yam blowhard who rarely attends games but is definitely a believer, like most of rhe cardigan ironning types the decision was made for him by his trouser wearing good lady, a much loved Hibby who is a season ticket holder. Their children will be brought up Hibbies, she's decided and he's been told. Its what that typw of yam allow to happen to them.

[CropleyWasGod]

Bryan Jackson was just on Reporting Scotland referring to UBIG as a bank and that they were trying to talk to the current Directors.

Do BDO know what they are doing ?

Possibly camera-fright. This is what is on the BBC website, from BJ:-

"Further discussions will now take place with the bidders and also with the legal representatives of the administrators of AB Ukio Bankas,"

That makes sense.

[HIBERNIAN-0762]

Bryan Jackson was just on Reporting Scotland referring to UBIG as a bank and that they were trying to talk to the current Directors.

Do BDO know what they are doing ?

That's what i was thinking, are they just tagging the yams along? he said that the 3 bids were nowhere near what is required to buy them, plus they have to deal with the Liths as well.

Why not just relegate the cheating B******S now!

:confused:

[Dunderhall]

That's what i was thinking, are they just tagging the yams along? he said that the 3 bids were nowhere near what is required to buy them, plus they have to deal with the Liths as well.

Why not just relegate the cheating B******S now!

:confused:
The bit in bold, did he really say that at this stage.

[Seveno]

Possibly camera-fright. This is what is on the BBC website, from BJ:-

"Further discussions will now take place with the bidders and also with the legal representatives of the administrators of AB Ukio Bankas,"

That makes sense.

That is a millions miles away from what he was saying on RS. He was talking about UBIG and getting hold of the 50% of the shares.

[Gus Fring]

That's what i was thinking, are they just tagging the yams along? he said that the 3 bids were nowhere near what is required to buy them, plus they have to deal with the Liths as well.

Why not just relegate the cheating B******S now!

:confused:

Relegation isn't a punishment option. It's a consequence of becoming a newco. Rangers weren't "relegated". They essentially left the structure and re-entered in SFL3.

[Islington Hibs]

Who knows what will happen but frankly if the Lithuanians refuse a CVA DBO will threaten them with getting virtually nothing back. Tynecastle is only valuable with planning permission and you can bet the council/ Salmond will not allow that. We have to make sure the council and our dear first Minister don't play foul. There are virtually no other assets. Totally unfair, if this happens, as they are cheating runts but I suspect you could get the whole thing for £3 or 4 million. The question is does one of their 400,000 fans have £4m? FoH are a non runner so its really down to who this 3rd bid is?

[Springbank]

Who knows what will happen but frankly if the Lithuanians refuse a CVA DBO will threaten them with getting virtually nothing back. Tynecastle is only valuable with planning permission and you can bet the council/ Salmond will not allow that. We have to make sure the council and our dear first Minister don't play foul. There are virtually no other assets. Totally unfair, if this happens, as they are cheating runts but I suspect you could get the whole thing for £3 or 4 million. The question is does one of their 400,000 fans have £4m? FoH are a non runner so its really down to who this 3rd bid is?

It would get planning for a supermarket