Share Transfers Agreed/Cooling off period

[happiehibbie]

Are we aware of the finance loss this will be on our team

TV revenue
cash sales

not good as we will not be able to replace this income

[clerriehibs]

Why are people still saying they'll keep stumbling along with help from the authorities?

When Plan Liquidate is put into action there will be no Hearts.


Why are the authorities happily "lalalalalala-ing" whilst the season is about to start, one of their member clubs is on its knees (for the chop this time, not that other on yer knees stuff), and don't seem to have a care in the world about the problems a non-existent homfc would pose?

[Gus Fring]

Are we aware of the finance loss this will be on our team

TV revenue
cash sales

not good as we will not be able to replace this income

"Sporting integrity is beyond purchase"

[clerriehibs]

Wouldn't be so sure. Without Tynecastle it would take a £20m investment to get them a new stadium in Edinburgh. Who has that kind of cash?


The council. It doesn't, but it would juggle things around. Sell a few school playing fields etc.

[BH Hibs]

If the Yams start the season how many games will the SPFL give them before they pull the plug ? if only 2 or 3 games Morton could make that up and all the other Teams that shuffle up = the longer they leave it the harder it will be to catch up.

PS
Anyone thinking about buying tickets for the PBS they need to hold off or they could lose their money


If they go pop after the season starts there will be an eleven team league

[Marabou Stork]

Liquidation won't happen because the SPFL etc wouldn't allow it! Hearts - by hook or by crook will be fulfilling their fixtures I've no doubt about that.
The preparations for the season would be in tatters - TV companies banging down the door again. Sky etc would think it was a piss-take that 2 of the 3 biggest components of the 'product' they had paid for had been ripped away.





:hilarious

All right. Anyone going to own up to this one.

Wonderful scenes here.

[Bostonhibby]

The Wow would probably be that they are so used to seeing the Yam do what the **** they like that they expected the Liths to doff their caps and accept the offer from Save Hearts In Trouble and maybe erect a memorial of two as a sign of their. Gratitude.

[Mon Dieu4]

:hilarious

All right. Anyone going to own up to this one.

Wonderful scenes here.

I've been saving Brokeback for my bus journey home after work, no doubt people will be avoiding me when im chuckling away to myself

[bathhibby]

If they go pop after the season starts there will be an eleven team league

Yeah but with no relegation - that's nonsense

[PatHead]

Hearts are a big club, won 2 world wars singlehandedly, play in a capital city, untouchable, its their own debt, they won the cup and killed Hibs, have a fan base of 400k, have Ronnie Corbett as a supporter, 5-1, 1902. Rudy Skatchell, Hibs have millions of debt. Can we not see the bigger picture?

[PatHead]

Yeah but with no relegation - that's nonsense

Do the playoffs start next year or is it the season after? If they do 11th would play off.

[Sanger]

I'm not sure what people actually expect the SPFL to do? They can't do anything as nothing has happened yet. Hearts have unfortunately not done anything that the SPFL hasn't already acted on. As I said earlier. It doesn't matter what happens now as the leagues are going to suffer some sort of problem.

But maybe Hearts get sold an make the start of the season? They play horridly bad but they are still there. It's not very fair that they were kicked out because they "might" get liquidated

I think with the facts in front of them from BDO anyone would say there is more than a 50% probability of Hearts not being able to complete their fixtures whatever the outcome. Of course the SPL ignored a company declaring itself insolvent as not sufficient proof of an insolvency event! But they must act now to boot them out or face horrendous complications if they let paly a few games before HMFC are wound up.

[Makaveli]

Why are the authorities happily "lalalalalala-ing" whilst the season is about to start, one of their member clubs is on its knees (for the chop this time, not that other on yer knees stuff), and don't seem to have a care in the world about the problems a non-existent homfc would pose?

As others have said, what can they do at the moment?

[Leithenhibby]

Are we aware of the finance loss this will be on our team

TV revenue
cash sales

not good as we will not be able to replace this income


"Sporting integrity is beyond purchase"


:agree: 100%.

It don't matter who or why, if you get caught cheating the baw's burst! .....

[Gus Fring]

I think with the facts in front of them from BDO anyone would say there is more than a 50% probability of Hearts not being able to complete their fixtures whatever the outcome. Of course the SPL ignored a company declaring itself insolvent as not sufficient proof of an insolvency event! But they must act now to boot them out or face horrendous complications if they let paly a few games before HMFC are wound up.

They can't act on a 50% probability, thats ludicrous. There's a 50% probability that Celtic will win the league this season, should they just give them the trophy now?

They didn't "ignore" UBIG declaring themselves insolvent either, they weren't legally covered so they didn't do anything.

If the SPFL act now, what happens? Is 6 days enough time for Morton to prepare for a completely different league? Is it buggery. Everyone is going to have to accept that even if the SPFL wanted to shaft Hearts in the hardest way possible they can't.

And for the record, there wouldn't be "horrendous complications", any fixtures Hearts did complete would be void and the league would continue with 11 teams. Either way, Hearts or no Hearts, the coming season is going to have some degree of upheaval and the SPFL can't do anything about it because they aren't legally able to act on ifs, ands, buts or maybes.

[Bristolhibby]

Are we aware of the finance loss this will be on our team

TV revenue
cash sales

not good as we will not be able to replace this income

They do have to ensure that all their clubs are able to fulfil their league commitments at the start of the season.

The fact that this may not be the case is proof enough.

Gretna stumbled on as it was near the end of the season. Hearts should be put out their misery, as there is no way that they will be around come mid May next year.

J

[happiehibbie]

I do agree sporting itegrity etc etc

question is how do WE replace the income lost by playing Hearts

[steakbake]

I do agree sporting itegrity etc etc

question is how do WE replace the income lost by playing Hearts

Bake sales, face painting and charging each other a fiver to congregate in each others' houses.

Maybe a Fish concert at ER.

[SteveHFC]

This is my reaction to the latest news

http://25.media.tumblr.com/11251184c1be060e70994b74e8c838ec/tumblr_mky7hyeWic1rqfhi2o1_400.gif

[Keith_M]

I'm not sure what people actually expect the SPFL to do? They can't do anything as nothing has happened yet. Hearts have unfortunately not done anything that the SPFL hasn't already acted on. As I said earlier. It doesn't matter what happens now as the leagues are going to suffer some sort of problem.

But maybe Hearts get sold an make the start of the season? They play horridly bad but they are still there. It's not very fair that they were kicked out because they "might" get liquidated


The SPFL should be meeting with BDO and ask for a guarantee that they can fulfill the fixtures for the season. Everybody and his dog can now see that would be impossible to give so 'Plan Morton' HAS to be put in place.

The alternative is that Hearts are allowed to start the season, are dead before August is out and the rest of the league season is played between 11 clubs. That would damage every other club financially because of missing games.

Get them out now!

[YehButNoBut]

I do agree sporting itegrity etc etc

question is how do WE replace the income lost by playing Hearts

By becoming more successful on the park

i.e. challenging at the top end of the league and making more cup semis/finals

[Gus Fring]

I do agree sporting itegrity etc etc

question is how do WE replace the income lost by playing Hearts

We don't replace it. We just cut our cloth accordingly to cope with it, every other team will need to do the same. The financial impact was supposedly going to be massive when Rangers left the SPL but everyone managed fine.

[Geo_1875]

They can't act on a 50% probability, thats ludicrous. There's a 50% probability that Celtic will win the league this season, should they just give them the trophy now?

They didn't "ignore" UBIG declaring themselves insolvent either, they weren't legally covered so they didn't do anything.

If the SPFL act now, what happens? Is 6 days enough time for Morton to prepare for a completely different league? Is it buggery. Everyone is going to have to accept that even if the SPFL wanted to shaft Hearts in the hardest way possible they can't.

And for the record, there wouldn't be "horrendous complications", any fixtures Hearts did complete would be void and the league would continue with 11 teams. Either way, Hearts or no Hearts, the coming season is going to have some degree of upheaval and the SPFL can't do anything about it because they aren't legally able to act on ifs, ands, buts or maybes.

It's their own rules that they should be prepared to apply, and stand by, not the law of the land. If they had the baws to make a principled decision about UBIG's self-declared bankruptcy we wouldn't still be waiting on HoMFC going pop.

[sidjames]

Bake sales, face painting and charging each other a fiver to congregate in each others' houses.

Maybe a Fish concert at ER.

I can sing bass.

[CropleyWasGod]

The SPFL hould be meeting with BDO and ask for a guarantee that they can fulfill the fixtures for the season. Everybody and his dog can now see that would be impossible to give so 'Plan Morton' HAS to be put in place.

The alternative is that Hearts are allowed to start the season, are dead before August is out and the rest of the league season is played between 11 clubs. That would damage every other club financially because of missing games.

Get them out now!

So, taking that forward, Morton come up. To be replaced by whom?

And so on down the leagues. The SPFL will still be one team short.

[Keith_M]

So, taking that forward, Morton come up. To be replaced by whom?

And so on down the leagues. The SPFL will still be one team short.


Spartans :wink:

[Treadstone]

http://1.bp.blogspot.com/-L8GhEb72HTw/UOX-X2N1NdI/AAAAAAAAAqo/TrkV5pQ6V70/s200/told-you-so-meter1.jpg

[steakbake]

I can sing bass.

I can't really carry a tun(a). I could play a few scales though. Might net is a few quids..


We don't replace it. We just cut our cloth accordingly to cope with it, every other team will need to do the same. The financial impact was supposedly going to be massive when Rangers left the SPL but everyone managed fine.

If you believe what some of the commenterati on the west coast sports pages, Hearts are going bust partly because of no rangers.

[CropleyWasGod]

Spartans :wink:

Wouldn't the East of Scotland already have their arrangements made for the new season?

And who would replace Spartans?


Ahhhhh..... now I get you. :greengrin

Liking this one from JKB:-

If we get liquidated I can't see us playing anywhere this season. It's too late to get into a league so I can't see how we could play anything other than frendlies.

[Gus Fring]

The SPFL hould be meeting with BDO and ask for a guarantee that they can fulfill the fixtures for the season. Everybody and his dog can now see that would be impossible to give so 'Plan Morton' HAS to be put in place.

The alternative is that Hearts are allowed to start the season, are dead before August is out and the rest of the league season is played between 11 clubs. That would damage every other club financially because of missing games.

Get them out now!

There is no "Plan Morton". Morton are not prepared to play in the SPL next season, that would have a massive financial impact on them as well as they suddenly have to find the funding to cope with SPL games rather than Div 1 games.

If the SPL is reduced to 11 teams then Hearts share of the income from the League would be shared evenly amongst the remaining teams, lessening the financial impact. This is one of the reasons the SPFL has decided not to give Hearts any financial help.

Here's what'll happen if the SPFL kick Hearts out now and bring Morton up. Morton will struggle, financially and competitively. Hearts would then be left with little choice but to liquidate as the club would become almost worthless. Tynecastle would be sold etc. What's left of Hearts would then sue the SPFL for kicking them out a league they still had every right to be in. If Hearts win (which they would, because it's clearly a breach of the rules) the financial award for this would be massive. Loss of potential earnings, irreparable damage to the brand and it's commercial activities etc. The SPFL would be due them a massive payment. Even if this was say a conservative estimate of £5m, there is no way they can afford it.

If I've said it once, I've said a thousand times. The SPFL are doing the right thing just now because the alternatives are far worse for everyone involved.


It's their own rules that they should be prepared to apply, and stand by, not the law of the land. If they had the baws to make a principled decision about UBIG's self-declared bankruptcy we wouldn't still be waiting on HoMFC going pop.

The law of the land trumps everything I'm afraid as Rangers proved last year in the court of session.

My own rules I've written here in crayon say I should get into Easter Road for nowt next season and I'm prepared to stand by those rules. I hope it works

[...WentToMowAnSPL]

I do agree sporting itegrity etc etc

question is how do WE replace the income lost by playing Hearts

Sponsored laugh-a-thon


Sent from my iPhone using Tapatalk 2

[Keith_M]

Wouldn't the East of Scotland already have their arrangements made for the new season?

And who would replace Spartans?


Ahhhhh..... now I get you. :greengrin


You're slow today Crops :wink:




If the SPL is reduced to 11 teams then Hearts share of the income from the League would be shared evenly amongst the remaining teams, lessening the financial impact. .


That's at least something, I hope it's enough to cover the revenue from a missing game but I doubt it.


I suppose everybody else could just arrange friendlies for the weekend they would have played Hearts. I bags Real Madrid

[Pedantic_Hibee]

BDO Administrator delivers the news to assembled Hearts fans outside Tynecastle today......................

http://sierraclub.typepad.com/.a/6a00d83451b96069e20147e05ad2b5970b-800wi

[CraigHibee]

to compare hearts current situation is like flushing that elusive jobby, a wee bit keeps bobbing up and keeping afloat on top, however this wee jobby is about to meet the mighty flush that finally sinks it to the sewers...

how i would love to be the one pulling that flush :greengrin

[Sanger]

They can't act on a 50% probability, thats ludicrous. There's a 50% probability that Celtic will win the league this season, should they just give them the trophy now?

They didn't "ignore" UBIG declaring themselves insolvent either, they weren't legally covered so they didn't do anything.

If the SPFL act now, what happens? Is 6 days enough time for Morton to prepare for a completely different league? Is it buggery. Everyone is going to have to accept that even if the SPFL wanted to shaft Hearts in the hardest way possible they can't.

And for the record, there wouldn't be "horrendous complications", any fixtures Hearts did complete would be void and the league would continue with 11 teams. Either way, Hearts or no Hearts, the coming season is going to have some degree of upheaval and the SPFL can't do anything about it because they aren't legally able to act on ifs, ands, buts or maybes.
Quite different a more than 50% probability of not being able to fulfil their fixtures and causing absolute mayhem and furthering tarnishing Scottish football than a team being odds on to win the league. So do you roll the dice knowing its loaded in favour of massive failure or walk away from the table. Any sensible body would drop them right out of all the leagues now and avoid the mess and further loss of credibility that will ensue. From what we know that is in the public domain Hearts are doomed. A private word with BDO would reveal the real hopelessness of the situation. This is D day. All offers are millions away or declared null and void. Time for authorities to show leadership for once.

[steakbake]

Quite different a more than 50% probability of not being able to fulfil their fixtures and causing absolute mayhem and furthering tarnishing Scottish football than a team being odds on to win the league. So do you roll the dice knowing its loaded in favour of massive failure or walk away from the table. Any sensible body would drop them right out of all the leagues now and avoid the mess and further loss of credibility that will ensue. From what we know that is in the public domain Hearts are doomed. A private word with BDO would reveal the real hopelessness of the situation. This is D day. All offers are millions away or declared null and void. Time for authorities to show leadership for once.

First things first though, Doncaster needs new hair gel and the attendees of any meeting should indicate what kind of pizza they'd like, just in the case it becomes a late one...

[kdhibees1]

to compare hearts current situation is like flushing that elusive jobby, a wee bit keeps bobbing up and keeping afloat on top, however this wee jobby is about to meet the mighty flush that finally sinks it to the sewers...

how i would love to be the one pulling that flush :greengrin
:top marks Bang and the **** are gone!!

[Gus Fring]

Quite different a more than 50% probability of not being able to fulfil their fixtures and causing absolute mayhem and furthering tarnishing Scottish football than a team being odds on to win the league. So do you roll the dice knowing its loaded in favour of massive failure or walk away from the table. Any sensible body would drop them right out of all the leagues now and avoid the mess and further loss of credibility that will ensue. From what we know that is in the public domain Hearts are doomed. A private word with BDO would reveal the real hopelessness of the situation. This is D day. All offers are millions away or declared null and void. Time for authorities to show leadership for once.

Unless it's a 100% probability, the SPFL will not, cannot and should not be touching the Hearts situation with a 60ft pole. Please remember that the SPFL isn't an impartial governing body, it's a group of representatives from the other clubs. They know fine well what the impact will be and stabbing one of their own isn't going to solve any problems, it just creates a whole mess of new ones.

"Tarnish scottish football"? Taking one of it's member clubs round the back and shooting it in the face would be the worst publicity they could ever hope for.

[Hibbyradge]

I do agree sporting itegrity etc etc

question is how do WE replace the income lost by playing Hearts

Maybe by finishing higher up the league and getting our hands on some of the prize money that Hearts overspent their way to get.

[HUTCHYHIBBY]

Unless it's a 100% probability, the SPFL will not, cannot and should not be touching the Hearts situation with a 60ft pole. Please remember that the SPFL isn't an impartial governing body, it's a group of representatives from the other clubs. They know fine well what the impact will be and stabbing one of their own isn't going to solve any problems, it just creates a whole mess of new ones.

"Tarnish scottish football"? Taking one of it's member clubs round the back and shooting it in the face would be the worst publicity they could ever hope for.

I think the vast majority of folk realise procedure has to be followed Baj, some folk just have less patience than others.

In all honesty its the folk that think The Jambos are going to get away scot-free with everything that I find difficult to comprehend!

[Bishop Hibee]

Let them die on their own. The SPFL doing the job for them would only allow them to blame others which is a Jambo's default position.

[Hibby70]

If (and by if I mean when) the fold we should just scrap the split and play 40 games (2 home and 2 away).

11 team league is the way forward - why didn't we think of it before?

[Arch Stanton]

..............

If I've said it once, I've said a thousand times. The SPFL are doing the right thing just now because the alternatives are far worse for everyone involved.

"The SPFL are doing the right thing" may well be the case but only if there has been no rule breaking going on. Do the SPFL really have no sanctions against financial mismanagement?

All their ST money has been spent and they have no line of credit to get them through the season - I would say BDO are complicit in that! After all, they sold ST's knowing the high risk of ticket holders not getting to see games - they even said that they were using the money to keep the club on the market - I really think the purpose of Season Tickets is to watch a season's worth of games.

[CropleyWasGod]

There is no "Plan Morton". Morton are not prepared to play in the SPL next season, that would have a massive financial impact on them as well as they suddenly have to find the funding to cope with SPL games rather than Div 1 games.

If the SPL is reduced to 11 teams then Hearts share of the income from the League would be shared evenly amongst the remaining teams, lessening the financial impact. This is one of the reasons the SPFL has decided not to give Hearts any financial help.

Here's what'll happen if the SPFL kick Hearts out now and bring Morton up. Morton will struggle, financially and competitively. Hearts would then be left with little choice but to liquidate as the club would become almost worthless. Tynecastle would be sold etc. What's left of Hearts would then sue the SPFL for kicking them out a league they still had every right to be in. If Hearts win (which they would, because it's clearly a breach of the rules) the financial award for this would be massive. Loss of potential earnings, irreparable damage to the brand and it's commercial activities etc. The SPFL would be due them a massive payment. Even if this was say a conservative estimate of £5m, there is no way they can afford it.

If I've said it once, I've said a thousand times. The SPFL are doing the right thing just now because the alternatives are far worse for everyone involved.

Pretty much agree with this.

There's little doubt in my mind that the SPFL and BDO will have been in constant dialogue. Also pretty sure that the SPFL have had legal advice on their position.

Can't understand the "mayhem" views. That's in the same file as the "Armageddon" predictions from last season.

[Hibbyradge]

I suppose everybody else could just arrange friendlies for the weekend they would have played Hearts. I bags Real Madrid

Their under 21's at East Mains?

[Sanger]

I think the vast majority of folk realise procedure has to be followed Baj, some folk just have less patience than others.

In all honesty its the folk that think The Jambos are going to get away scot-free with everything that I find difficult to comprehend!
If there is firm evidence which I believe there is that Hearts will not be able to fulfil their fixtures then it is the responsible course to put them out the leagues now. It is the responsibility of the SPL to ensure that clubs are financially viable and can sustain themselves throughout the season. There is plenty of evidence that comes down against Hearts not lasting the season. We are further destroying the credibility of Scottish football and sanctions could follow from UEFA. It does not need liquidation proceedings to begin to determine if Hearts are a viable concern.

[Billy Whizz]

Their under 21's at East Mains?

In our case, the missing fixture would be our biggest money spinner, Hearts at home on New Year's Day!

[Keith_M]

"Tarnish scottish football"? Taking one of it's member clubs round the back and shooting it in the face would be the worst publicity they could ever hope for.

I'd describe it more in terms of taking it over to Dignitas for a mercy killing.

You mentioned earlier that the SPFL would be afraid of court action. I'd be interested in who you think could raise such an action, if Hearts have already been liquidated, BDO been paid and UKIO got the money from the sale of Tynecastle.

[steviehibsleith]

Unless it's a 100% probability, the SPFL will not, cannot and should not be touching the Hearts situation with a 60ft pole. Please remember that the SPFL isn't an impartial governing body, it's a group of representatives from the other clubs. They know fine well what the impact will be and stabbing one of their own isn't going to solve any problems, it just creates a whole mess of new ones.

"Tarnish scottish football"? Taking one of it's member clubs round the back and shooting it in the face would be the worst publicity they could ever hope for.

They forced Livingstone to put up a £720,000 bond which they couldnt pay so accepted relegation to the 3rd division

I know its the SPFL now but surely this is a way .

This is what SFL did to LIvi
Prior to Wednesday's meeting at the National Stadium, the consortium had expressed frustration at being asked by the SFL put up a bond of £720,000 - in order to fulfil the club's First Division fixtures for the new season.

[CropleyWasGod]

I'd describe it more in th terms of taking it over to Dignitas for a mercy killing.

You mentioned earlier that the SPFL would be afraid of court action. I'd be interested in who you think could raise such an action, if Hearts have already been liquidated, BDO been paid and UKIO got the money from the sale of Tynecastle.

The liquidator of Hearts.

[Hibbyradge]

If there is firm evidence which I believe there is that Hearts will not be able to fulfil their fixtures then it is the responsible course to put them out the leagues now. It is the responsibility of the SPL to ensure that clubs are financially viable and can sustain themselves throughout the season. There is plenty of evidence that comes down against Hearts not lasting the season. We are further destroying the credibility of Scottish football and sanctions could follow from UEFA. It does not need liquidation proceedings to begin to determine if Hearts are a viable concern.

The only way this could happen would be with the administrator's consent, imo.

Otherwise, Hearts would blame the SPFL for causing them to go bust and would sue.

There is still a chance that someone will meet BDO's price and they have publicly announced that they have enough money to keep them going till Christmas at least.

There's a few teams in the leagues that couldn't give a guarantee that they'll definitely fulfil their fixtures...

[WhileTheChief..]

What if FoH just go back in with a larger offer?

[Ozyhibby]

Maybe just hit them with the max possible penalty on Thurs. Might end them once and for all and keep the SPFL on the right side of the law.

[Hibbyradge]

In our case, the missing fixture would be our biggest money spinner, Hearts at home on New Year's Day!

Aye, that would be a shame although we both know it would be moved to the 3rd or something for TV.

Plus, there's no new income from ST members, but you're right, we'd miss out on a tidy sum.

[DaveF]

Maybe just hit them with the max possible penalty on Thurs. Might end them once and for all and keep the SPFL on the right side of the law.

Spot on Ozy. Presumably they have the power within their own rule book to administer a fatal boot in the knackers which these cretins deserve.

[lord bunberry]

Aye, that would be a shame although we both know it would be moved to the 3rd or something for TV.

Plus, there's no new income from ST members, but you're right, we'd miss out on a tidy sum.
If they survive that long and are well adrift at the bottom they would be lucky to sell 500 tickets for that game.

[brog]

Rule G6.1.11 allows to ' order that a club be expelled from the league ' if in ' a breach of or a failure to fulfill the rules '. Its quite a hard read but I'm assuming that rules means any or all. Yams are definitely in breach of at least 2 rules, failure to pay players & failure to pay HMRC. More seriously their books are supposed to be available for full inspection & scrutiny & I'm not sure they could withstand a full investigative audit of their finances over the last few years.
Perhaps SPFL may apply this ultimate sanction on Thursday given that Yams say they can't handle alternatives such as a fine or a block on registrations. :greengrin

[Mon Dieu4]

Looks like Lord Pishy Breeks chat with the Lithuanian Ambassador worked a treat, bet he just stuffed his face with Ferrero Rocher

[Billy Whizz]

If they survive that long and are well adrift at the bottom they would be lucky to sell 500 tickets for that game.

Just give them 1/2 of the South, and we can sell the rest to Hibees who will enjoy seeing us give them a good humping

[Itsnoteasy]

MY HEART IS BROKEN HHTHAH:hibees

[lord bunberry]

Just give them 1/2 of the South, and we can sell the rest to Hibees who will enjoy seeing us give them a good humping

I think that's what may well happen

[CropleyWasGod]

Rule G6.1.11 allows to ' order that a club be expelled from the league ' if in ' a breach of or a failure to fulfill the rules '. Its quite a hard read but I'm assuming that rules means any or all. Yams are definitely in breach of at least 2 rules, failure to pay players & failure to pay HMRC. More seriously their books are supposed to be available for full inspection & scrutiny & I'm not sure they could withstand a full investigative audit of their finances over the last few years.
Perhaps SPFL may apply this ultimate sanction on Thursday given that Yams say they can't handle alternatives such as a fine or a block on registrations. :greengrin

It's an SFA meeting, no?

[Bostonhibby]

Are we aware of the finance loss this will be on our team

TV revenue
cash sales

not good as we will not be able to replace this income

not really but I am willing to learn, tax has to be paid, our country is in recession, and what about all the other creditors.

LTYF.............

[johnrebus]

I think that's what may well happen

I don't this Hibs team could dish out a good humping to even the hottest of Hollywood starlets right now....,

[Bostonhibby]

Looks like Lord Pishy Breeks chat with the Lithuanian Ambassador worked a treat, bet he just stuffed his face with Ferrero Rocher

A few trendy chocolates? nowhere near enough for Scotlands premier statesman and all round defender of the moral high ground.

[ScottB]

I don't think Livi are a useful precedent, as it is from a time before any real rules on insolvency were brought in, and the SFL itself subsequently expressed regret for how harshly they were treated, see Dundee as a later example, their second bought of admin brought a tougher points penalty, not being dumped to the bottom of the pile.

Regardless of what happens now, one division is likely to be 1 club short, so the question is whether the SPFL decide that trying to pre-emptively put Hearts out of their misery, an act that will likely attract the anger of the media and elements of the wider public (you'd be amazed how many people I've spoken to that are barely aware Hearts are in debt, never mind the tax and other dodginess, such people would percieve it as an institution being 'shot in the face' and would at the least generate goodwill and support for some future Hearts newco, something we don't want!) or whether they accept that it is very difficult to do anything prior to the financial players in this mess finishing up, then either promoting clubs that don't have a hope of being prepared for it, or dealing with the bad PR of a 'Premiership' being one club short.

[Treadstone]

Looks like Lord Pishy Breeks chat with the Lithuanian Ambassador worked a treat, bet he just stuffed his face with Ferrero Rocher

"With this free bevvy that I am chucking doon ma throat you are spoiling us Mrs Ambassador"

Roaster.

[steakbake]

A few trendy chocolates? nowhere near enough for Scotlands premier statesman and all round defender of the moral high ground.

He's a shameless sort.

[Bostonhibby]

I can sing bass.

If we could raise a few quid for doing it I am sure we could persuade FOH or Save Hearts In Trouble to flounder around for a bit before ultimately disappearing up their own sub comittee

[monktonharp]

There is no "Plan Morton". Morton are not prepared to play in the SPL next season, that would have a massive financial impact on them as well as they suddenly have to find the funding to cope with SPL games rather than Div 1 games.

If the SPL is reduced to 11 teams then Hearts share of the income from the League would be shared evenly amongst the remaining teams, lessening the financial impact. This is one of the reasons the SPFL has decided not to give Hearts any financial help.

Here's what'll happen if the SPFL kick Hearts out now and bring Morton up. Morton will struggle, financially and competitively. Hearts would then be left with little choice but to liquidate as the club would become almost worthless. Tynecastle would be sold etc. What's left of Hearts would then sue the SPFL for kicking them out a league they still had every right to be in. If Hearts win (which they would, because it's clearly a breach of the rules) the financial award for this would be massive. Loss of potential earnings, irreparable damage to the brand and it's commercial activities etc. The SPFL would be due them a massive payment. Even if this was say a conservative estimate of £5m, there is no way they can afford it.

If I've said it once, I've said a thousand times. The SPFL are doing the right thing just now because the alternatives are far worse for everyone involved.



The law of the land trumps everything I'm afraid as Rangers proved last year in the court of session.

My own rules I've written here in crayon say I should get into Easter Road for nowt next season and I'm prepared to stand by those rules. I hope it works I don't think that Morton would particularly struggle financially. on the contrary, they would have a massive increase in attendances. Morton v Celtic-huge increase, Morton v Hibernian- huge increase, Morton v St.Mirren- very huge increase, Killie, Partick also bigger attendances and the Morton fans would turn up in numbers as they can compete with the "smaller" west coast teams as far as attendances are concerned . I do think we would take 1500-2000 to our first game against them, just to wind up the gorgie mob.

[ScottB]

I don't think that Morton would particularly struggle financially. on the contrary, they would have a massive increase in attendances. Morton v Celtic-huge increase, Morton v Hibernian- huge increase, Morton v St.Mirren- very huge increase, Killie, Partick also bigger attendances and the Morton fans would turn up in numbers as they can compete with the "smaller" west coast teams as far as attendances are concerned . I do think we would take 1500-2000 to our first game against them, just to wind up the gorgie mob.

Might they have to pay their players more? I assume First division players may have promotion clauses for wage increases?

Increased policing costs from more away fans, presumably it's too late to increase ticket prices for a top division campaign. No time to add much to their squad, will their fans turn up in numbers to see them being beaten most weeks?

Would Morton fancy going up at zero notice and trying to avoid relegation back into a division that by then would contain The Rangers, or a first division campaign they could well win?

[clerriehibs]

Unless it's a 100% probability, the SPFL will not, cannot and should not be touching the Hearts situation with a 60ft pole. Please remember that the SPFL isn't an impartial governing body, it's a group of representatives from the other clubs. They know fine well what the impact will be and stabbing one of their own isn't going to solve any problems, it just creates a whole mess of new ones.

"Tarnish scottish football"? Taking one of it's member clubs round the back and shooting it in the face would be the worst publicity they could ever hope for.

As I remember it, the SPL as was, after it's light touch "investigation" of homfc, found that nothing was out of order, but they reserved the right to re-analyse the situation ... http://sport.stv.tv/football/clubs/hearts/226139-spl-unable-to-rule-out-future-action-against-hearts-after-investigation/.

I assume that right has carried on into the SPFL.

The findings back then were obviously wrong; homfc were in the throes of an insolvency event.

I can't see what the problem is. Retrospectively apply the 18 point deduction, relegate them, and have a "Plan Dundee" rather than a "Plan Morton".

Alternatively, let's just shore up the cheats, because that's what WILL happen, rather than any day-dreaming about an 11 team league.

[monktonharp]

Might they have to pay their players more? I assume First division players may have promotion clauses for wage increases?

Increased policing costs from more away fans, presumably it's too late to increase ticket prices for a top division campaign. No time to add much to their squad, will their fans turn up in numbers to see them being beaten most weeks?

Would Morton fancy going up at zero notice and trying to avoid relegation back into a division that by then would contain The Rangers, or a first division campaign they could well win?all very valid points, but crowd increases are a given. can they not just increase prices for any game? hertz do, ala £32-3 for games with us , as they have done/ the benefitters would be anyone holding a season ticket for G.Morton. Dundee had as good ,if not better crowds than others last season, despite their sudden quantum leap. also, it has been stated in the press and on here that Doncaster was invited to Cappielow recently to see the new upgraded facilities which are up to premiership standard.

[Andy74]

The other BBC McLaughlin is saying that the shortfall is into millions of pounds. Not the one million mentioned earlier.

[CropleyWasGod]

As I remember it, the SPL as was, after it's light touch "investigation" of homfc, found that nothing was out of order, but they reserved the right to re-analyse the situation ... http://sport.stv.tv/football/clubs/hearts/226139-spl-unable-to-rule-out-future-action-against-hearts-after-investigation/.

I assume that right has carried on into the SPFL.

The findings back then were obviously wrong; homfc were in the throes of an insolvency event.

I can't see what the problem is. Retrospectively apply the 18 point deduction, relegate them, and have a "Plan Dundee" rather than a "Plan Morton".

Alternatively, let's just shore up the cheats, because that's what WILL happen, rather than any day-dreaming about an 11 team league.

The problem is that that would leave the SPFL open to legal action. Even in hindsight, establishing whether and when a company is insolvent is notoriously difficult. For example, I would argue that Hearts were insolvent the day UBIG announced withdrawal of their funding. Others would argue that UBIG only became insolvent the day their administration was confirmed by the court.

Better to let real legal process run its course, IMO, than rely on opinions which might tie up the story for months.

[Kato]

What if FoH just go back in with a larger offer?

What if candy floss fell from lamposts and was gathered and served to us by highly trained Chihuahua's?

My preffered option now is to see them stumble through the season as an SPFL ghost team while UKIO finds a buyer for their "atmospheric" hovel.

[Sergey]

The only way this could happen would be with the administrator's consent, imo.

Otherwise, Hearts would blame the SPFL for causing them to go bust and would sue.

There is still a chance that someone will meet BDO's price and they have publicly announced that they have enough money to keep them going till Christmas at least.

There's a few teams in the leagues that couldn't give a guarantee that they'll definitely fulfil their fixtures...

Got to remember that BDO's price is simply to get any bidder/prospective buyer to the 'preferred bidder' stage. Folks are jumping the gun if they think that £x millions will instantly buy the club.

These look like the grimmest of grim times for all Yams....

...and I'm loving every moment!

[green is good]

"With this free bevvy that I am chucking doon ma throat you are spoiling us Mrs Ambassador"

Roaster.


:faf::top marks

[FranckSuzy]

What if candy floss fell from lamposts and was gathered and served to us by highly trained Chihuahua's?

My preffered option now is to see them stumble through the season as an SPFL ghost team while UKIO finds a buyer for their "atmospheric" hovel.

:tee hee:

[MSK]

10725

[hibbymick]

I find it a bit strange The Tache splashing out 200k on a player when the chances of us losing the revenue from the derby seems very likely.

[Keith_M]

The liquidator of Hearts.


But why and what would they hope to gain?


The liquidators job is to get money for the creditors with the remaining assets. The only remaining asset worth anything is Tynecastle so they would sell that. I can't see that they would have anything else to do?

Also, Liquidators only continue work until there's no more money in the Compnay being liquidated to pay them. Hearts have no money, ergo it's over practically before it starts.

[Jamesie]

The only way this could happen would be with the administrator's consent, imo.
.

Not so, I believe. The snappily titled Para 43(6) to Schedule B1 of the Insolvency Act 1986 states as follows:

(6)No legal process (including legal proceedings, execution, distress and diligence) may be instituted or continued against the company or property of the company except—

(a)with the consent of the administrator, or

(b)with the permission of the court.

While I haven't looked at how/if this paragraph has been interpreted by the courts, my instinctive reaction is that I do not consider expulsion from the league to constitute a "legal process".

[connerg]

I find it a bit strange The Tache splashing out 200k on a player when the chances of us losing the revenue from the derby seems very likely.

The Tache probably promised Fenlon money from the Cup run, add to that a good payday from the Malmo game at ER.

[Sylar]

I find it a bit strange The Tache splashing out 200k on a player when the chances of us losing the revenue from the derby seems very likely.

If Hearts disappear, the safeguard against relegation goes so perhaps he views it as a security investment?

[StevieC]

The problem is that that would leave the SPFL open to legal action.

I hear what you're saying ..

.. but legal action from who? :dunno:

[brog]

It's an SFA meeting, no?

Picky, picky! :greengrin

My more serious point was respected commentators on here are saying SPFL have applied all sanctions possible vs Yams & there's no opportunity/discretion within the rules to throw them out the league. Assuming for now that SPL rules remain valid, it appears to my reading that they can be thrown out. If rules are consolidated the main difference would be they go out of all 4 divisions rather than SPL only! Shame!

[Hibs07p]

I don't think Livi are a useful precedent, as it is from a time before any real rules on insolvency were brought in, and the SFL itself subsequently expressed regret for how harshly they were treated, see Dundee as a later example, their second bought of admin brought a tougher points penalty, not being dumped to the bottom of the pile.

Regardless of what happens now, one division is likely to be 1 club short, so the question is whether the SPFL decide that trying to pre-emptively put Hearts out of their misery, an act that will likely attract the anger of the media and elements of the wider public (you'd be amazed how many people I've spoken to that are barely aware Hearts are in debt, never mind the tax and other dodginess, such people would percieve it as an institution being 'shot in the face' and would at the least generate goodwill and support for some future Hearts newco, something we don't want!) or whether they accept that it is very difficult to do anything prior to the financial players in this mess finishing up, then either promoting clubs that don't have a hope of being prepared for it, or dealing with the bad PR of a 'Premiership' being one club short.

They could end up 2 short, Dunfermline could go into liquidation tomorrow.

http://www.bbc.co.uk/sport/0/football/23494323

[Bostonhibby]

The relevant thread over the road has the title...... "Not Looking So Good".

:hilarious

Wow, so once the summer holidays are over and the bowling season moves into autumn there might be a chance that one or two of the hearts boys will issue a rallying call to the 400,000 to form an electoral college to elect a representative for each area of the world to attend a sub commitee to agree the terms of a draft strongly worded letter to the Hootsman.

It is all so unfair, Johnny foreigner was given a perfectly respectable offer which was more than enough for 2 mid range bungalows in Barnton but chose to reject it, its their prerogative but now that it's been rejected the Yam should just move on and offer it to someone else to step into the void / abyss, its a perfectly good inducement to take over a dual war winning team that plays free of any real debt in a prime piece of Edinburgh real estate - the title sums it up nicely, what is there for them to panic about?

When liquidation actually arrives an appropriate headline will be submitted to the end game advisory sub commitee for Kickback approval - something along the lines of "WTF was that? the lights went out and where were we?

[CropleyWasGod]

I hear what you're saying ..

.. but legal action from who? :dunno:

The liquidator.

Picking up Keekaboo's question on this, it would be the liquidator's view that throwing Hearts out of the League too soon, without allowing the legal process to run its course, adversely affected the amount of money that Hearts (hence the creditors) "might" have earned had they been allowed to continue. It's similar to a damages claim, where loss of earnings is the central part of the claim.

Sure, as K says, there may be little cash left to mount such an action, but while there is I reckon a liquidator would see it as fair game.

This may well be the legal advice that the SPFL have had... albeit with bigger words and a much bigger invoice.

[Gus Fring]

I hear what you're saying ..

.. but legal action from who? :dunno:

If the club is liquidated whoever buys the assets would also be able to begin the legal action.

However, there is a chance, as has been said, that Hearts are not liquidated. BDO have already said they have enough money currently to see them through until Christmas, all this talk of Hearts "being skint" is a fallacy. Hearts were skint. They've now got themselves a somewhat decent slush fund to work with that the creditors can't get their hands on. Once the season starts they can start earning money again as well. If Hearts were punted out the league, all of that money could then be spent on pursuing legal action because the club would be worthless without somewhere to play to football. A win in court (which is almost inevitable) would then end up with Hearts with a significant sum that would not have to be given to the creditors. The SPFL would then be minus the amount of said award which would have a knock on effect on the entire team. There is also the possibility that UEFA/FIFA got involved because usually they don't take kindly to governing bodies leaving themselves open to legal action.

Long story short, Hearts could be millions of pounds up and the SPFL would be millions of pounds down and have to suffer whatever punishments UEFA/FIFA see fit.

[Sanger]

Reading the the fuller statement in the record the Ukio administrator unless it quickly receives vastly improved bids will soon instruct BDO to start liquidation proceedings. I can see this announcement although not the actual liquidation proceedings being made by the end of the week. Think the Ukio admins are shocked at how far the bids are from the value of the Tynie land. Today's announcement is not part of a hard ball poker game but a sign the game is really over for Hearts.

[HFC 0-7]

So the bids are millions away and we know Massone was bidding £4 million. Fromwhat I have heard the £4 million wasn't for ukio, 2.5 million was for ukio and the rest for a cva. If ukio are wanting what the land is worth that means someone needs to stump up around 5 - 6 million just to make ukio happy and have enough left over for a cva! Another thing that I have heard is that one of the groups were wanting to " give " ukio tynecastle to get them out the picture and have only a CVA to try and get passed but ukio valuation of the land is different to what BDO and the group think therefore they can't agree on how much of ukio's debt will move into the CVA.

Could be total balls right enough but the logic seems to be there.

[Sergey]

Reading the the fuller statement in the record the Ukio administrator unless it quickly receives vastly improved bids will soon instruct BDO to start liquidation proceedings. I can see this announcement although not the actual liquidation proceedings being made by the end of the week. Think the Ukio admins are shocked at how far the bids are from the value of the Tynie land. Today's announcement is not part of a hard ball poker game but a sign the game is really over for Hearts.

I agree with your observation, but I'll also hold my stance insomuch that the UBIG administrator will play a pivotal part in how this pans out (or won't as the Hearts shares are frozen).

I'm pretty sure we're watching the end-game unravel and no sensible amount of money can save them.

My opinion - Liquidation is probably a few months away, simply because there is money sloshing around. Thereafter, it'll be the final cut, in a sort of Albert Pierrepoint way.

[BigKev]

Reading the the fuller statement in the record the Ukio administrator unless it quickly receives vastly improved bids will soon instruct BDO to start liquidation proceedings. I can see this announcement although not the actual liquidation proceedings being made by the end of the week. Think the Ukio admins are shocked at how far the bids are from the value of the Tynie land. Today's announcement is not part of a hard ball poker game but a sign the game is really over for Hearts.

I like this quote a lot :thumbsup: What makes you think things will move so quickly?


I agree with your observation, but I'll also hold my stance insomuch that the UBIG administrator will play a pivotal part in how this pans out (or won't as the Hearts shares are frozen).

I'm pretty sure we're watching the end-game unravel and no sensible amount of money can save them.

My opinion - Liquidation is probably a few months away, simply because there is money sloshing around. Thereafter, it'll be the final cut, in a sort of Albert Pierrepoint way.

What would you believe an acceptable offer to be Sergey?

[Mac]

I agree with your observation, but I'll also hold my stance insomuch that the UBIG administrator will play a pivotal part in how this pans out (or won't as the Hearts shares are frozen).

I'm pretty sure we're watching the end-game unravel and no sensible amount of money can save them.

My opinion - Liquidation is probably a few months away, simply because there is money sloshing around. Thereafter, it'll be the final cut, in a sort of Albert Pierrepoint way.

But it won't be hearts decision, if the UBIG creditors want money quickly then they will liquidate and asset strip, doesn't matter what money is sloshing around as they will take it to pay creditors.

[Sanger]

I agree with your observation, but I'll also hold my stance insomuch that the UBIG administrator will play a pivotal part in how this pans out (or won't as the Hearts shares are frozen).

I'm pretty sure we're watching the end-game unravel and no sensible amount of money can save them.

My opinion - Liquidation is probably a few months away, simply because there is money sloshing around. Thereafter, it'll be the final cut, in a sort of Albert Pierrepoint way.

Think the freezing of the Hearts shares only an issue if they are sold on in coming out of administration- not an issue with liquidation. But Ukio/UBIG essentially now controlled by the Lithuanian state who can put proceeds of any sale in trust until legal action against Romanov is complete.

[CropleyWasGod]

But it won't be hearts decision, if the UBIG creditors want money quickly then they will liquidate and asset strip, doesn't matter what money is sloshing around as they will take it to pay creditors.

It will be BDO's call.

[jgl07]

So the bids are millions away and we know Massone was bidding £4 million. Fromwhat I have heard the £4 million wasn't for ukio, 2.5 million was for ukio and the rest for a cva. If ukio are wanting what the land is worth that means someone needs to stump up around 5 - 6 million just to make ukio happy and have enough left over for a cva! Another thing that I have heard is that one of the groups were wanting to " give " ukio tynecastle to get them out the picture and have only a CVA to try and get passed but ukio valuation of the land is different to what BDO and the group think therefore they can't agree on how much of ukio's debt will move into the CVA.

Could be total balls right enough but the logic seems to be there.

If it was £2.5 million for a UKIOS and £1.5 million for a CVA, who would pay the BDO fees?

[Sergey]

What would you believe an acceptable offer to be Sergey?

The only offer that would be currently acceptable to all parties in Lithuania is £15M to Ukio and £10M to UBIG (assuming that the UBIG assets would be freed from current criminal investigations). That's what's currently due (on paper but it's much more in reality) to the folks in LT.

I don't even think that BDO fully know what is going on. BTW - no appeal as yet to the proposed UBIG insolvency appointment.

[Bostonhibby]

I agree with your observation, but I'll also hold my stance insomuch that the UBIG administrator will play a pivotal part in how this pans out (or won't as the Hearts shares are frozen).

I'm pretty sure we're watching the end-game unravel and no sensible amount of money can save them.

My opinion - Liquidation is probably a few months away, simply because there is money sloshing around. Thereafter, it'll be the final cut, in a sort of Albert Pierrepoint way.

:agree: Am leaning this way myself as after all the various scenarios have been postured / debated its still pretty much followed the line of offer us enough or we will liquidate.

One telling observation for me has been the rather lower profile / silence from Ian Murray MP "independent" chairman.

Does he know something we don't? has he reeled his head in now that all the news is likely to be bad news? have the Labour Party told him to do what he is paid for?

[DaveF]

It will be BDO's call.

I wish they would hurry up. I've got some 180 and Bullseye posts waiting :I'm waiti

[Sanger]

I like this quote a lot :thumbsup: What makes you think things will move so quickly?


What would you believe an acceptable offer to be Sergey?

The tone and words of the fuller quotes in the Record from the Ukio administrator.

[mutley]

I do agree sporting itegrity etc etc

question is how do WE replace the income lost by playing Hearts

Just catching up with this thread, the answer to this one us simple, decent cup runs would more than make up for home games against THEM.
And as someone mentioned above, finishing higher up the league , better revenue gained from SPFL

[CropleyWasGod]

If it was £2.5 million for a UKIOS and £1.5 million for a CVA, who would pay the BDO fees?

Any of the administration bids has to have 3 elements. The secured creditor(s), the unsecureds and BDO.

[Treadstone]

:agree: Am leaning this way myself as after all the various scenarios have been postured / debated its still pretty much followed the line of offer us enough or we will liquidate.

One telling observation for me has been the rather lower profile / silence from Ian Murray MP "independent" chairman.

Does he know something we don't? has he reeled his head in now that all the news is likely to be bad news? have the Labour Party told him to do what he is paid for?

He is currently weighing up the 'political angle'. Pie faced blowhard.

[bingo70]

I agree with your observation, but I'll also hold my stance insomuch that the UBIG administrator will play a pivotal part in how this pans out (or won't as the Hearts shares are frozen).

I'm pretty sure we're watching the end-game unravel and no sensible amount of money can save them.

My opinion - Liquidation is probably a few months away, simply because there is money sloshing around. Thereafter, it'll be the final cut, in a sort of Albert Pierrepoint way.

What happens if both remaining interested parties go back to the drawing board and decide they can't get close to the asking price so give up, would they still plod along until the cash dries up in the hope a new bidder comes along or would the administrators just lock the gates?

[Moulin Yarns]

They could end up 2 short, Dunfermline could go into liquidation tomorrow.

http://www.bbc.co.uk/sport/0/football/23494323

And The Simple Solution? 4 Leagues Of 10 Clubs, Sorry Partick Thistle

[sauzee=legend]

Question - what date do hearts find out their punishment from the sfa/spl/sfpl (or whatever they are called) for going into administration? Because if they leave it to late, hearts might already be liquidated.

[kdhibees1]

Question - what date do hearts find out their punishment from the sfa/spl/sfpl (or whatever they are called) for going into administration? Because if they leave it to late, hearts might already be liquidated.
This coming Thursday
http://www.dailyrecord.co.uk/sport/football/football-news/hearts-wait-discover-fate-sfa-2061570

[Hibs07p]

And The Simple Solution? 4 Leagues Of 10 Clubs, Sorry Partick Thistle

I would rather drop the club with the next worse set of accounts, whoever they might be. :greengrin

[Sergey]

What happens if both remaining interested parties go back to the drawing board and decide they can't get close to the asking price so give up, would they still plod along until the cash dries up in the hope a new bidder comes along or would the administrators just lock the gates?

I'm not best placed to answer that one - but I'd reckon liquidation at the earliest/most opportune time.

The MSM seem to think that this is simply a cut-and-dry case between Scotland and Lithuania, however, there are creditors, both private and public throughout Europe and further afar that will have a say, From Bosnia, Ukraine, Belarus, Sweden...the list is endless - these creditors are all part of the UBIG insolvency, and getting them to agree to a paltry penny in the £ settlement simply isn't going to happen overnight. Plus, UBIG are under criminal investigation - what the **** are prospective bidders for Hearts getting themselves into in the medium/long term?

[Simkin911]

I may have missed the question elsewhere but I note Dunfermline have a £150k bond due if they are still around. What's this about and is there such a requirement for HMFC?

[SteveHFC]

10725

:faf:

[LongshanksED]

Keep reading this quote and each time it seems to get better and better

The administrator in charge of Ukio Bankas, Gintaras Adomonis, said: "I can repeat that we are doing everything we can to save the club functioning.
"However, I am obliged to protect solely the interests of Ukio Bankas and its creditors.
"If no feasible offer with terms and conditions acceptable to Ukio Bankas creditors is achieved, Ukio Bankas will remain with the only solution - liquidation of Hearts of Midlothian Plc and enforcement of the standard security over Tynecastle stadium."

[CropleyWasGod]

What happens if both remaining interested parties go back to the drawing board and decide they can't get close to the asking price so give up, would they still plod along until the cash dries up in the hope a new bidder comes along or would the administrators just lock the gates?

BDO would start the process of liquidation.

[brog]

The tone and words of the fuller quotes in the Record from the Ukio administrator.

Also, the undertaker is now going to great lengths to reinforce he always said liquidation was a possibility. From his verbal & body language today I think he's about to say, well we gave it our best shot but the ba's bust!

[jakeshibs]

this will cheer me up, hurry up Thursday :agree:

[Treadstone]

Keep reading this quote and each time it seems to get better and better

The administrator in charge of Ukio Bankas, Gintaras Adomonis, said: "I can repeat that we are doing everything we can to save the club functioning.
"However, I am obliged to protect solely the interests of Ukio Bankas and its creditors.
"If no feasible offer with terms and conditions acceptable to Ukio Bankas creditors is achieved, Ukio Bankas will remain with the only solution - liquidation of Hearts of Midlothian Plc and enforcement of the standard security over Tynecastle stadium."

That will hold no water on brokeback they just make up what they want to hear. As Mikey said earlier their thread on the issue is "Not looking too good". They need a 'chewin' the fat' Rab McGlinchey interpreting for the yams.
"We gave you a chance, your offers were laughable, we've wasted enough time you're rooked. Now beat it and see if City park is available"

[AinsterHibs]

Also, the undertaker is now going to great lengths to reinforce he always said liquidation was a possibility. From his verbal & body language today I think he's about to say, well we gave it our best shot but the ba's bust!


This.:agree:

[Hibrandenburg]

Keep reading this quote and each time it seems to get better and better

The administrator in charge of Ukio Bankas, Gintaras Adomonis, said: "I can repeat that we are doing everything we can to save the club functioning.
"However, I am obliged to protect solely the interests of Ukio Bankas and its creditors.
"If no feasible offer with terms and conditions acceptable to Ukio Bankas creditors is achieved, Ukio Bankas will remain with the only solution - liquidation of Hearts of Midlothian Plc and enforcement of the standard security over Tynecastle stadium."

That for me is the elephant in the room. If any bidder offers 5.9 mil and the Liths can get 6 mil via liquidation then liquidation it is. If the Liths have done their homework then they'll know exactly what amount liquidation will pull in. Bye bye Jam Tarts.

[brog]

I agree with your observation, but I'll also hold my stance insomuch that the UBIG administrator will play a pivotal part in how this pans out (or won't as the Hearts shares are frozen).

I'm pretty sure we're watching the end-game unravel and no sensible amount of money can save them.

My opinion - Liquidation is probably a few months away, simply because there is money sloshing around. Thereafter, it'll be the final cut, in a sort of Albert Pierrepoint way.

I think there may be less money sloshing around than we think. BDO confirmed all the income from the first 7,000 season ticket sales has gone. I believe a high percentage of the extra 3,000 were reduced price, I doubt they brought in £0.5mm. They're paying wages again, need to pay VAT & PAYE & their providers who've already been stiffed are now going to want paid up front. I think though they may be pragmatic & think there's no point in chasing their tail, ie losing more money & just give up the ghost while they actually have some money left.

[greenlex]

BDO would start the process of liquidation.
Stop it!!!! I'm quite moist!!!!

[StevieC]

If the Liths have done their homework then they'll know exactly what amount liquidation will pull in.

If I remember rightly, the sale of the club and assets were advertised nationally? If this were the case then their may have been "unofficial enquiries" regarding the "assets" part of the sale.

[Springbank]

10725

If I was asked to sum up the period 1980-2013 in yam land I would choose this

[sidneyhibbie]

Reading the the fuller statement in the record the Ukio administrator unless it quickly receives vastly improved bids will soon instruct BDO to start liquidation proceedings. I can see this announcement although not the actual liquidation proceedings being made by the end of the week. Think the Ukio admins are shocked at how far the bids are from the value of the Tynie land. Today's announcement is not part of a hard ball poker game but a sign the game is really over for Hearts.

letters will be posted in the morning to the ukio administrator to remind him that we are watching his every move i will remind him he acts in best interest of creditors My letter campaign will reep dividends.

[CropleyWasGod]

letters will be posted in the morning to the ukio administrator to remind him that we are watching his every move i will remind him he acts in best interest of creditors My letter campaign will reep dividends.

... ***ake he's an expert in Lith Law as well.

:not worth

[DaveF]

... ***ake he's an expert in Lith Law as well.

I think you can stand down Crops. There is a new show in town :agree:

[Bostonhibby]

letters will be posted in the morning to the ukio administrator to remind him that we are watching his every move i will remind him he acts in best interest of creditors My letter campaign will reep dividends.

Go get em Sindey, extermination is the only option :thumbsup:

[green glory]

@MattMcGlone9: A trusted London city source tells me 75% chance Hearts will be liquidated.All recent S/B sales null/void. SPFL left with 11 teams! #problem

[CropleyWasGod]

I think you can stand down Crops. There is a new show in town :agree:

Wen wun has hud wun's day, wun must stan doun.

[Bostonhibby]

Wen wun has hud wun's day, wun must stan doun.

:agree: Sadly, the grim reeper comes for us all...............

[sidneyhibbie]

@MattMcGlone9: A trusted London city source tells me 75% chance Hearts will be liquidated.All recent S/B sales null/void. SPFL left with 11 teams! #problem

Sidney likes this news :aok:

[IberianHibernian]

Never had the energy or time to read all this thread but find it interesting to read as a Hibby and someone who tries to run a business ( albeit one without 400,000 clients ) . Comments from financial experts here seem sincere and accurate ( I`m no expert ) . I never read Hearts`boards but suppose they have the odd financial expert ( odd as in occasional instead of strange though also that ) - giving opinions and predictions . Do their opinions match those of experts here ? Never read a heated debate here about our own financial situation involving financial experts - is this just because things are under control though not rosy or because we manage to survive without causing controversy or risking massive losses ?

[The Green Goblin]

I think that "wow" tweet sums up what will be a stunned reaction of an overconfident, ignorant and complacent yam mob who never believed for a second it would actually, finally come to this. When the day arrives, expect lengthy news footage of clusters of yams gathering outside the pink bus shelter with lots of tears, shots of wee bairns holding out 20p pieces with greeting fans around them saying "bless his wee soul", a lot of nonsense statements, anger and claims to the cameras about who was responsible (everyone but themselves) and whimpering "emotional appeals" from 13 year old lassies in dirty pink scarves trying to get noticed on television. The irony of them all protesting outside their beloved asbestos shed a few years too late will be lost on each and every one of them.

[Mon Dieu4]

Franck Sauzee must be getting worried as Sidney is catching him in my hero stakes Haha

[Hibs07p]

I may have missed the question elsewhere but I note Dunfermline have a £150k bond due if they are still around. What's this about and is there such a requirement for HMFC?

It is quoted in this link

http://www.bbc.co.uk/sport/0/football/23494323

Dunfermline received a 15-point penalty for going into administration last season, when they were relegated from Division One - now the Championship - after a play-off final defeat by Alloa Athletic.
Another 10-point penalty for the forthcoming season - and a £150,000 bond payable to the Scottish Football Association - will be incurred should they fail to agree a CVA by 2 August.

I would imagine that a similar penalty could be imposed on HOMFC when they appear on 1st August, if they haven't agreed a CVA by the start of the season.

GGTTH

[YehButNoBut]

What if FoH throw all the cash they seem to have at the Liths, i.e. the 2 amounts they had for the cva and the amount set aside as working capital just to make sure they got control of the club.

They then have the club but sod all to run it with, would they be able to make it work with this scenario?

[gackohibs]

Keep reading this quote and each time it seems to get better and better

The administrator in charge of Ukio Bankas, Gintaras Adomonis, said: "I can repeat that we are doing everything we can to save the club functioning.
"However, I am obliged to protect solely the interests of Ukio Bankas and its creditors.
"If no feasible offer with terms and conditions acceptable to Ukio Bankas creditors is achieved, Ukio Bankas will remain with the only solution - liquidation of Hearts of Midlothian Plc and enforcement of the standard security over Tynecastle stadium."

:fenlon

[CropleyWasGod]

What if FoH throw all the cash they seem to have at the Liths, i.e. the 2 amounts they had for the cva and the amount set aside as working capital just to make sure they got control of the club.

They then have the club but sod all to run it with, would they be able to make it work with this scenario?

Don't think BDO would accept that. They have to try and rescue the company as a going concern. Having no working capital would prevent that.

[HUTCHYHIBBY]

Wen wun has hud wun's day, wun must stan doun.

Time to get the quill and parchment paper out CWG!

[CropleyWasGod]

Time to get the quill and parchment paper out CWG!

Nah. Ken wen i'm beet.

[hibees 7062]

This coming Thursday
http://www.dailyrecord.co.uk/sport/football/football-news/hearts-wait-discover-fate-sfa-2061570

Possible punishments by the SFA could include a fine or suspension or termination of membership from the governing body.:pray:

[SloopJB]

Possible punishments by the SFA could include a fine or suspension or termination of membership from the governing body.:pray:
Or a censure.
I cannot see how they would survive that.

[Sanger]

Don't think BDO would accept that. They have to try and rescue the company as a going concern. Having no working capital would prevent that.
The FOH direct debits flow in over two years and no guarantee they'll all keep flowing. UKio want the money upfront.

[#FromTheCapital]

What if FoH throw all the cash they seem to have at the Liths, i.e. the 2 amounts they had for the cva and the amount set aside as working capital just to make sure they got control of the club.

They then have the club but sod all to run it with, would they be able to make it work with this scenario?

They don't have anything set aside for working capital. The figure they gave for working capital is based on the pledges they have.

[Dunderhall]

What if FoH throw all the cash they seem to have at the Liths, i.e. the 2 amounts they had for the cva and the amount set aside as working capital just to make sure they got control of the club.

They then have the club but sod all to run it with, would they be able to make it work with this scenario?
I thought the working capital comes from the monthly pledges, so simply moving the amounts isn't that straightforward as it doesn't exist. Why they haven't been collecting them before is strange, as that amount could have been used upfront.

If they had no money left after the bid as working capital, then they couldn't see out the season without further bakeathons.

[God Petrie]

If anyone is losing track, here's a website with the most relevant up-to-the-minute information.

http://www.areheartsdeadyet.com

[Hibbyradge]

If anyone is losing track, here's a website with the most relevant up-to-the-minute information.

http://www.areheartsdeadyet.com

:aok:

[HFC 0-7]

If it was £2.5 million for a UKIOS and £1.5 million for a CVA, who would pay the BDO fees?

I would imagine they would take a slice from both. Back to the info I got, ukio want the value of the land at the very least, so any bidder would need about 6 million just to satisfy ukio's security then they would need even more money for the cva. Why would ukio accept anything less than the value of Tynie. Another thing was that they said ukio could take their time selling Tynie to realise the best price.

[Hibs07p]

Never had the energy or time to read all this thread but find it interesting to read as a Hibby and someone who tries to run a business ( albeit one without 400,000 clients ) . Comments from financial experts here seem sincere and accurate ( I`m no expert ) . I never read Hearts`boards but suppose they have the odd financial expert ( odd as in occasional instead of strange though also that ) - giving opinions and predictions . Do their opinions match those of experts here ? Never read a heated debate here about our own financial situation involving financial experts - is this just because things are under control though not rosy or because we manage to survive without causing controversy or risking massive losses ?

I'm no expert whatsoever, I love reading the posts from our experts, who IMO are very balanced in their predictions, too balanced sometimes. I just wish one of them would suddenly post, "that's it, games over, they're FvCCed, planning application is cancelled, Bryan Jackson has pulled of his mask to reveal a s******ing Rod Petrie giving it the Sparky". I spend some time over there for their views, but get the impression that any of "their experts" are too scared to give honest opinions in case they get tarred as hobo losers. Most of the opinion over there is based on hope & delusion. One of my favourites is

I hope we have all contacted our local councillor to discuss matters.

Stated months ago that this should be a focus given valuation is the issue.

Planning regulations and permissions could be very important to our club.

GGTTH

[CropleyWasGod]

:aok:

I dunno about it being :aok:

The idea of the mighty Leftfield being associated with that lot is not one I like.

[Dunderhall]

Or a censure.

Dunderhall wonders how gathering information about the population would help.

[CropleyWasGod]

Dunderhall wonders how gathering information about the population would help.

One census that a censure of the population of Gorgie would be a big help.....:cb

[Hibbyradge]

I dunno about it being :aok:

The idea of the mighty Leftfield being associated with that lot is not one I like.

Associated for all the right reasons though.

[s.a.m]

I'm no expert whatsoever, I love reading the posts from our experts, who IMO are very balanced in their predictions, too balanced sometimes. I just wish one of them would suddenly post, "that's it, games over, they're FvCCed, planning application is cancelled, Bryan Jackson has pulled of his mask to reveal a s******ing Rod Petrie giving it the Sparky". I spend some time over there for their views, but get the impression that any of "their experts" are too scared to give honest opinions in case they get tarred as hobo losers. Most of the opinion over there is based on hope & delusion. One of my favourites is

I hope we have all contacted our local councillor to discuss matters.

Stated months ago that this should be a focus given valuation is the issue.

Planning regulations and permissions could be very important to our club.

GGTTH

:agree:
That moment of unguarded optimism is when we will know that the game is up for our neebors.

[SloopJB]

If anyone is losing track, here's a website with the most relevant up-to-the-minute information.

http://www.areheartsdeadyet.com
It does appear to have the relevant information in a concise layout which is very easy to read.
Having poured over it and examined every word, I cannot fault anything on there.

This could challenge that other blog site that won the award for its expose of the rangers saga.

[HFC 0-7]

I thought the working capital comes from the monthly pledges, so simply moving the amounts isn't that straightforward as it doesn't exist. Why they haven't been collecting them before is strange, as that amount could have been used upfront.

If they had no money left after the bid as working capital, then they couldn't see out the season without further bakeathons.

Was there not some talk that the monthly pledges would be used to pay back whoever is funding the initial bid amount? If so it means that a part of the pledges won't be available to use as part of the bid.

[Dunderhall]

One census that a censure of the population of Gorgie would be a big help.....:cb
Dunderhall wonders if this is 100 per censure, letters us pray it is.


Was there not some talk that the monthly pledges would be used to pay back whoever is funding the initial bid amount? If so it means that a part of the pledges won't be available to use as part of the bid.
That is correct, it was a shift from their original position which seems to have been largely ignored in yamland. They now have debt to pay back the unknown backer.
Whether they have explained that as part of the bid, who knows.

[Treadstone]

Was there not some talk that the monthly pledges would be used to pay back whoever is funding the initial bid amount? If so it means that a part of the pledges won't be available to use as part of the bid.

There lies the fantasy. Individual(s) fronting up money with no security attached and asked to wait while the pledges are used as working capital. Total non starter.

[johnrebus]

:agree:
That moment of unguarded optimism is when we will know that the game is up for our neebors.

The establishment club will survive. No chance of liquidation.

It just will not be allowed to happen.


ps

Life's a bitch.

[Ken]

I heard today that no new or improved bids are expected and liquidation is almost certain.

Source (about 5th hand before it got to me) was someone who used to have a senior role at Tynie before BDO took over.

Fingers crossed!!

[SteveHFC]

I heard today that no new or improved bids are expected and liquidation is almost certain.

Source (about 5th hand before it got to me) was someone who used to have a senior role at Tynie before BDO took over.

Fingers crossed!!

http://25.media.tumblr.com/tumblr_lyodyrgD5F1robyj8o1_500.gif

[matty_f]

I would imagine they would take a slice from both. Back to the info I got, ukio want the value of the land at the very least, so any bidder would need about 6 million just to satisfy ukio's security then they would need even more money for the cva. Why would ukio accept anything less than the value of Tynie. Another thing was that they said ukio could take their time selling Tynie to realise the best price.

I was going to post something similar, the bids need to satisfy the secured debt, as well as covering enough to have a cva agreed on the unsecured amount, plus be able to pay BDO and run the club.

It's going to take a fair amount more than has been offered up so far.

[Hibernia&Alba]

http://25.media.tumblr.com/tumblr_lyodyrgD5F1robyj8o1_500.gif

Brilliant. I just burst out laughing there like a lunatic :greengrin. I will gladly walk down Gorgie Road like that when the day of judgment arrives. No matter how bad Hibs' results get, this thread puts them in perspective and raises my spirits no end. Everyone who has posted in it should be proud of their contribution. Thank you all :thumbsup:

[monktonharp]

I'm not best placed to answer that one - but I'd reckon liquidation at the earliest/most opportune time.

The MSM seem to think that this is simply a cut-and-dry case between Scotland and Lithuania, however, there are creditors, both private and public throughout Europe and further afar that will have a say, From Bosnia, Ukraine, Belarus, Sweden...the list is endless - these creditors are all part of the UBIG insolvency, and getting them to agree to a paltry penny in the £ settlement simply isn't going to happen overnight. Plus, UBIG are under criminal investigation - what the **** are prospective bidders for Hearts getting themselves into in the medium/long term?:agree: I have felt this, and commented on it some time ago after reading some snippets from more learned financial people on here/you too Serge, It will be driven by the Lith Government surely? it's their hard p[ressed citizens that have lost so much by the collapse of ukio/ubig, together with the other Baltic/eastern states where workers went unpaid for months. is everyone in Scotland losing the fact that it was the LITHUANIANS that appointed the administrators? they were not appointed just to save hmofc, rather to get the best deal overall, for the people in other countries to try and recover as much dosh as possible

[SHODAN]

If liquidated will they be likely to get a CVA/whatever followed by demotion to League Two, or will they be removed from the SPFL entirely?

Honest answers please - what you think will happen rather than want to happen. :wink:

[Ozyhibby]

http://m.scotsman.com/sport/football/spfl/stuart-bathgate-hearts-liquidation-threat-is-real-1-3020961

A warning to the Lithuanians.

[hibby67]

http://m.scotsman.com/sport/football/spfl/stuart-bathgate-hearts-liquidation-threat-is-real-1-3020961

A warning to the Lithuanians.


if only the Lithuanians had sought the financial wisdom of Stuart Bathgate before refusing the first offers

I’m sure they are shaking in their boots now ..... :rolleyes:

[I'm_cabbaged]

I'm no expert whatsoever, I love reading the posts from our experts, who IMO are very balanced in their predictions, too balanced sometimes. I just wish one of them would suddenly post, "that's it, games over, they're FvCCed, planning application is cancelled, Bryan Jackson has pulled of his mask to reveal a s******ing Rod Petrie giving it the Sparky". I spend some time over there for their views, but get the impression that any of "their experts" are too scared to give honest opinions in case they get tarred as hobo losers. Most of the opinion over there is based on hope & delusion. One of my favourites is

I hope we have all contacted our local councillor to discuss matters.

Stated months ago that this should be a focus given valuation is the issue.

Planning regulations and permissions could be very important to our club.

GGTTH

Might not be as stupid as it sounds, the council were quite quick to fek us over with planning regulations IIRC.

[marinello59]

http://m.scotsman.com/sport/football/spfl/stuart-bathgate-hearts-liquidation-threat-is-real-1-3020961

A warning to the Lithuanians.

Who does he post as on Kickback? That is nothing more than the same wishful thinking that they wallow in over there. Funny how the a total value of Tynecase is getting less every day and its suitability for housing lessens by the hour. Throw in those ever so sensitive profit shunning building companies who wouldn't dare touch any redevelopment project on the site and its obvious that Hearts are under no threat whatsoever. You could t make it up. Unless you are Stuart Bathgate of course.

[johnrebus]

http://m.scotsman.com/sport/football/spfl/stuart-bathgate-hearts-liquidation-threat-is-real-1-3020961

A warning to the Lithuanians.

Desperate stuff, from a desperate journalist, on a desperate newspaper.

[Kaiser1962]

Who does he post as on Kickback? That is nothing more than the same wishful thinking that they wallow in over there. Funny how the a total value of Tynecase is getting less every day and its suitability for housing lessens by the hour. Throw in those ever so sensitive profit shunning building companies who wouldn't dare touch any redevelopment project on the site and its obvious that Hearts are under no threat whatsoever. You could t make it up. Unless you are Stuart Bathgate of course.


A lot of the bigger companies appear to be acquiring "land banks". Purchase a bit of land that may be worth a lot more some day, gets the profit figure down and lessens tax liabilities whilst adding an asset to the group.

I wonder if the Yams will be adopting the same attitude towards the value of Tynecastle when teh day comes that they need to move, if they last that long.

[Green Blood]

That well known echinoderm the Chocolate Starfish has started its migration back to its breeding grounds off the Lithuanian coast. Major migrations were first spotted early yesterday on the west side of edinburgh around Tynecastle with other sporadic sightings noted.

Many experts believe that due to habitat erosion, this may be the last migration ever seen!

[Jack]

Question.

When they go into liquidation (I felt when writing that it was like the grooms speech where he first introduces the Mrs, so I'm expecting a wee cheer and round of applause) and they have all the money from the sale of everything am I right in thinking the money BDO raised to take them to Christmas gets added to that for the creditors?

Just thinking that its a relatively fair amount so when doing our fag packet calcs, and given the small amounts being bandied about as offers, that could be as much 2 million - is that the working capital thingy folk are talking about?

Of course that would mean BDO did effectively raise their fee from the sale of 3000 STs albeit indirectly, sorry Crops ;). At the end of the day I don't suppose it really matters, the public facing side of BDO will put up as good a PR as possible to keep folk on side.

[Sanger]

if only the Lithuanians had sought the financial wisdom of Stuart Bathgate before refusing the first offers

I’m sure they are shaking in their boots now ..... :rolleyes:
As if the Lith admins are as stupid as the Yams and their scribblers and together with BDO did no homework and put no feelers out for what the market land value of Tynie is with adverts etc. why have they consistently said they are looking for bids that match the land value of Tynie? Why did Bob the shoe man think he could move from Tynie? Why is Massone interested? Because bar Bathgate and the Yams with their heads in the sand know Tynie's market value has not dropped from £22m to unsellable.

[Hibbyradge]

http://m.scotsman.com/sport/football/spfl/stuart-bathgate-hearts-liquidation-threat-is-real-1-3020961

A warning to the Lithuanians.

Whether accurate or not, these are the thoughts of FOH, not Stuart Bathgate.

[gorgie greens]

Never had the energy or time to read all this thread but find it interesting to read as a Hibby and someone who tries to run a business ( albeit one without 400,000 clients ) . Comments from financial experts here seem sincere and accurate ( I`m no expert ) . I never read Hearts`boards but suppose they have the odd financial expert ( odd as in occasional instead of strange though also that ) - giving opinions and predictions . Do their opinions match those of experts here ? Never read a heated debate here about our own financial situation involving financial experts - is this just because things are under control though not rosy or because we manage to survive without causing controversy or risking massive losses ?

i would imagine that any clued up yam would have been told where to go as being a doom n gloom merchant hobbo etc,no one wants to here the news about the keek hitting the fan

[Hibernia Na Eir]

the real facts are, Tynecastle is worth many millions as a development site. Builders know that. Council knows that.
Its not rocket science either trying to find out what recent property sales are for new builds around that area. I'm sure the nice Lithuanians are up to speed on this already.
facts are facts, no matter what any journo dresses it up as....

[Bristolhibby]

i would imagine that any clued up yam would have been told where to go as being a doom n gloom merchant hobbo etc,no one wants to here the news about the keek hitting the fan

Don't forget peg selling, HIVbby, docksider.

Throw in a couple of 5-1's and a wee team and you're there.

J

[Hank Schrader]

http://m.scotsman.com/sport/football/spfl/stuart-bathgate-hearts-liquidation-threat-is-real-1-3020961

A warning to the Lithuanians.

The comments from Hearts fans on that article are hilarious. Delusional beyond belief.

What the **** is a frother by the way? :confused::rolleyes:

[lucky]

In Bathgates article he tries to blame the liquidation on a any developer who buys the PBS, but surely the point is they will have already went bust before any developer gets a chance to bid. Poor article, unfortunately the Scotsman is very much like Scottish football desperately trying to recapture former glories when in reality it's dying.

[Mon Dieu4]

I still can't believe that they seriously think no developer would touch the land as it would damage their reputation

[lord bunberry]

Question.

When they go into liquidation (I felt when writing that it was like the grooms speech where he first introduces the Mrs, so I'm expecting a wee cheer and round of applause) and they have all the money from the sale of everything am I right in thinking the money BDO raised to take them to Christmas gets added to that for the creditors?

Just thinking that its a relatively fair amount so when doing our fag packet calcs, and given the small amounts being bandied about as offers, that could be as much 2 million - is that the working capital thingy folk are talking about?

Of course that would mean BDO did effectively raise their fee from the sale of 3000 STs albeit indirectly, sorry Crops ;). At the end of the day I don't suppose it really matters, the public facing side of BDO will put up as good a PR as possible to keep folk on side.

I would imagine the money they would have to see them through to christmas will include tv and sponsorship money from the spfl, they won't be entitled to that when they are liquidated.

[PapillonVert]

Desperate stuff, from a desperate journalist, on a desperate newspaper.

:agree:

To point out the obvious: it's not a developer who is responsible for HMFC going bust. It is the owner, the management and everyone connected with them who suspended all reality, bought into the fantasy and lapped up the good times without questioning for a nano-second how it would all be paid for.

It has been a slow-motion train crash in the making but nonetheless entirely predictable for that (as has been pointed out on here, oh, at least million times before).

Now the chickens (or should that be ostriches? :ostrich:) have come home to roost.......so don't blame any developers if it has come to this.

The blame lies entirely with HMFC itself: nor can its its arrogant and deluded fans escape their role in its demise IMO.

:titanic:

[greenginger]

The comments from Hearts fans on that article are hilarious. Delusional beyond belief.

What the **** is a frother by the way? :confused::rolleyes:


A frother ? I've had that compliment from a few Yams after posting comments on articles in the Scotsman.
Seems to apply to anyone who thought there was any significance in meaningless events like unpaid wages, HMRC winding-up orders, Ukio Bankas bankruptcy, and even their own administration.

Its because we are ignorant of the power held by Yam supporters that makes sure all will be well for their mighty club and why we are always in their shadow. :greengrin

[HUTCHYHIBBY]

:agree:

To point out the obvious: it's not a developer who is responsible for HMFC going bust. It is the owner, the management and everyone connected with them who suspended all reality, bought into the fantasy and lapped up the good times without questioning for a nano-second how it would all be paid for.

It has been a slow-motion train crash in the making but nonetheless entirely predictable for that (as has been pointed out on here, oh, at least million times before).

Now the chickens (or should that be ostriches? :ostrich:) have come home to roost.......so don't blame any developers if it has come to this.

The blame lies entirely with HMFC itself: nor can its its arrogant and deluded fans escape their role in its demise IMO.

:titanic:

Its just the playing of the victim card, we'll see it played on an almost daily basis until the inevitable happens.

Whilst we are suffering from Malmo Syndrome they've pretty much reached Stockholm Syndrome levels!

[greenginger]

:agree:


Now the chickens (or should that be ostriches? :ostrich:) have come home to roost.......so don't blame any developers if it has come to this.

The blame lies entirely with HMFC itself: nor can its its arrogant and deluded fans escape their role in its demise IMO.

:titanic:



Don't forget the ignorant backside licking Journos and TV pundits who have been cheerleading for reckless spending ( investment in the game ) and mocking sensible spending levels.

[PapillonVert]

Its just the playing of the victim card, we'll see it played on an almost daily basis until the inevitable happens.

Whilst we are suffering from Malmo Syndrome they've pretty much reached Stockholm Syndrome levels!

Taken hostage by financial reality.

And re. the adoption of "poor-us" victimhood - I suspect that this is because deep, deep down, they know that they alone are responsible for their own predicament but just can't bear to accept this inconvenient truth.

Hence, "1-5, Rudi is God, 1902, Big Team" etc. etc. All to keep the dawning realisation of their own gullibility and stupidity at bay as long as possible.

[Sanger]

Reading the UK press on Bloomberg they are pessimistic to a man/woman - a real dose of realism/pessimism. Far cry from the FOH media statement through their Bathgate mouthpiece!

[CropleyWasGod]

If liquidated will they be likely to get a CVA/whatever followed by demotion to League Two, or will they be removed from the SPFL entirely?

Honest answers please - what you think will happen rather than want to happen. :wink:

Since everyone else is ignoring you, I'll answer your question.:greengrin

They can't be liquidated AND get a CVA. If they are liquidated, it will almost certainly be because they weren't able to get a CVA.

If they go into liquidation, they have to stop trading.

[matty_f]

Since everyone else is ignoring you, I'll answer your question.:greengrin

They can't be liquidated AND get a CVA. If they are liquidated, it will almost certainly be because they weren't able to get a CVA.

If they go into liquidation, they have to stop trading.

Would it be right to say that meeting the value asked for by the secured creditor is only 1/3 of the battle? Any potential buyer still has to have money to pay the cva for the unsecured creditors, and have enough money to pay for the running of the club.

[CropleyWasGod]

Would it be right to say that meeting the value asked for by the secured creditor is only 1/3 of the battle? Any potential buyer still has to have money to pay the cva for the unsecured creditors, and have enough money to pay for the running of the club.

...and the administrator's fees as well :0)

[matty_f]

...and the administrator's fees as well :0)

Ooh you smooth talker!

[lapsedhibee]

A frother ? I've had that compliment from a few Yams after posting comments on articles in the Scotsman.
Seems to apply to anyone who thought there was any significance in meaningless events like unpaid wages, HMRC winding-up orders, Ukio Bankas bankruptcy, and even their own administration.

I take it to mean anyone who is numerate.

[HUTCHYHIBBY]

...and the administrator's fees as well :0)

I've been wondering how they would get their money.

[bingo70]

...and the administrator's fees as well :0)

With that in mind surely there's got to come a point soon foh hold their hands up and say their getting out their depth and start proposing they're the best option to get behind for a newco?!

[CropleyWasGod]

I've been wondering how they would get their money.

Glad you're not the only one. It's been bothering me since Day 1.

[Moulin Yarns]

Glad you're not the only one. It's been bothering me since Day 1.

:faf:

[HUTCHYHIBBY]

Glad you're not the only one. It's been bothering me since Day 1.

I was going to ask sidney to write them a letter and see if he can find out, seems he is busy shutting Hearts down single handedly at the moment though.


:faf:

Didnae think it would be THAT quick to be honest! ;-)

[Onion]

I still can't believe that they seriously think no developer would touch the land as it would damage their reputation

That piece is to reassure and appease their panicking yam readers. As a plot of land in one of the most beautiful European cities , even Tynecastle will be worth a lot of money once the economy starts to recover. The Liths must understand that. As for reputation damage, it would be quite easy for this plot to change hands a few times before any development takes place. The Liths might already have had a few interested parties contacting them behind the scenes. It might be e few years before the land is built on by which time the Yams will all have become Hibs fans :)

[Spike Mandela]

http://m.scotsman.com/sport/football/spfl/stuart-bathgate-hearts-liquidation-threat-is-real-1-3020961

A warning to the Lithuanians.

How DARE these pesky Lithuanians look to get the money they are owed.

[Killiehibbie]

The comments from Hearts fans on that article are hilarious. Delusional beyond belief.

What the **** is a frother by the way? :confused::rolleyes:A frother is a woman in a highly aroused state.

[LancsHibs]

That piece is to reassure and appease their panicking yam readers. As a plot of land in one of the most beautiful European cities , even Tynecastle will be worth a lot of money once the economy starts to recover. The Liths must understand that. As for reputation damage, it would be quite easy for this plot to change hands a few times before any development takes place. The Liths might already have had a few interested parties contacting them behind the scenes. It might be e few years before the land is built on by which time the Yams will all have become Hibs fans :)

A foreign investor would snap it up. Sit on it and sell on when time is right:agree:

[TornadoHibby]

That piece is to reassure and appease their panicking yam readers. As a plot of land in one of the most beautiful European cities , even Tynecastle will be worth a lot of money once the economy starts to recover. The Liths must understand that. As for reputation damage, it would be quite easy for this plot to change hands a few times before any development takes place. The Liths might already have had a few interested parties contacting them behind the scenes. It might be e few years before the land is built on by which time the Yams will all have become Hibs fans :)

Heard a "rumour" the other day that the chance of this being granted consent for residential development is virtually nil due to the close proximity of the distillery and the pharmaceutical company where "leakage" into the ground has arisen! :dunno: :confused:

Anyone confirm this!? :confused:

[Liberal Hibby]

Heard a "rumour" the other day that the chance of this being granted consent for residential development is virtually nil due to the close proximity of the distillery and the pharmaceutical company where "leakage" into the ground has arisen! :dunno: :confused:

Anyone confirm this!? :confused:

Only in the Yams dreams - this was discussed and debunked further up the thread.

[Matty_Jack04]

Heard a "rumour" the other day that the chance of this being granted consent for residential development is virtually nil due to the close proximity of the distillery and the pharmaceutical company where "leakage" into the ground has arisen! :dunno: :confused:

Anyone confirm this!? :confused:

Theyve recently built a new school a stones throw away from tynecastle, sounds like more yam delusion to me

[woody0-7]

Well there was up until last year a high school there so I don't think that rumour will work for them!

[bingo70]

Heard a "rumour" the other day that the chance of this being granted consent for residential development is virtually nil due to the close proximity of the distillery and the pharmaceutical company where "leakage" into the ground has arisen! :dunno: :confused:

Anyone confirm this!? :confused:

Why would they let them build a new school next to it if it was unsafe at all?

If a housing developer wasn't given permission to build by the council could they appeal this in the courts? Sounds to me like the council are trying to move the goalposts to suit their agenda.

[Sanger]

A very realistic apprasial from Bridging and Commercial!

Lithuania state owed £400m by Ukio Bankas and will not accept cakes and choclate buttons. Do not pass Go go straight to Liquidation!


http://www.bridgingandcommercial.co.uk/article-desc.php?id=3286&title=football-club-faces-liquidation-over-£15m-property-debt

[Keith_M]

A very realistic apprasial from Bridging and Commercial!


http://www.bridgingandcommercial.co.uk/article-desc.php?id=3286&title=football-club-faces-liquidation-over-£15m-property-debt



Hobo Frothers, Big Team - Big Cup, since 1902, 5-1, etc.

[Phil D. Rolls]

A foreign investor would snap it up. Sit on it and sell on when time is right:agree:

Would that mean that Newyam would have a place to play until it is sold? Maybe even rent free, as a goodwill gesture.

All they'd have to do is pay maintenance of the stadium to meet safety requirements, council tax etc.....oh, wait.


A very realistic apprasial from Bridging and Commercial!

Lithuania state owed £400m by Ukio Bankas and will not accept cakes and choclate buttons. Do not pass Go go straight to Liquidation!


http://www.bridgingandcommercial.co.uk/article-desc.php?id=3286&title=football-club-faces-liquidation-over-£15m-property-debt


Despite promising announcements from BDO, the reality of a £15 million debt to foreign creditors is that any small CVA proposals will be rejected in favour of selling off Tynecastle to alleviate the £400 million debt the Bank owes to the Central Bank of Lithuania.

Is this right?

[easty]

Why would they let them build a new school next to it if it was unsafe at all?

If a housing developer wasn't given permission to build by the council could they appeal this in the courts? Sounds to me like the council are trying to move the goalposts to suit their agenda.

:agree:

And it's such a dangerous area to be in that they allow circa 400k yam fans to congregate in and around the stadium for games. Or maybe it's all that fancy scarf twirling thats keeping the 'leekage' at bay?

[therealgavmac]

A frother is a woman in a highly aroused state.

Absolutely pmsl...... :top marks

[HibsNibs]

the real facts are, Tynecastle is worth many millions as a development site. Builders know that. Council knows that.
Its not rocket science either trying to find out what recent property sales are for new builds around that area. I'm sure the nice Lithuanians are up to speed on this already.
facts are facts, no matter what any journo dresses it up as....

Sidney or someone needs to drop them a line to make sure they are. I think FOH's strategy is completely reliant on the 'PBS is worth nowt' gambit.

[easty]

A very realistic apprasial from Bridging and Commercial!

Lithuania state owed £400m by Ukio Bankas and will not accept cakes and choclate buttons. Do not pass Go go straight to Liquidation!


http://www.bridgingandcommercial.co.uk/article-desc.php?id=3286&title=football-club-faces-liquidation-over-£15m-property-debt

Wow...in the photo (in the link) the PBS doesnt look like an asbestos-ridden hole at all. I thought they'd just given the stairs a wee paint job, but that is pretty impressive.

[CropleyWasGod]

Would that mean that Newyam would have a place to play until it is sold? Maybe even rent free, as a goodwill gesture.

All they'd have to do is pay maintenance of the stadium to meet safety requirements, council tax etc.....oh, wait.

If the company goes into liquidation, it stops trading.

A NewCo, if it took over the club, would have to move very quickly in order for it to operate this season.

[SlickShoes]

If the company goes into liquidation, it stops trading.

A NewCo, if it took over the club, would have to move very quickly in order for it to operate this season.

The season starts in 4 days, if hearts go liquid any time soon they will cease to exist for the rest of the season at least.

Didn't rangers already have the newco set up and waiting? Hearts are donald ducked now if they go in to liquidation, 1 full year with 0 revenue and only £20 monthly direct debits from die hard fans is not enough to start a new club.

[lapsedhibee]

The season starts in 4 days, if hearts go liquid any time soon they will cease to exist for the rest of the season at least.

Morton, Dundee are ill prepared to step into their shoes. For the sake of Scottish Football, the only sensible thing to do will be to promote their big cousins to take their place. Shirley no reasonable person can object to that outcome, now that all divisions are operating under the one umbrella of the SPFL.

[CropleyWasGod]

Morton, Dundee are ill prepared to step into their shoes. For the sake of Scottish Football, the only sensible thing to do will be to promote their big cousins to take their place. Shirley no reasonable person can object to that outcome, now that all divisions are operating under the one umbrella of the SPFL.

Thank you, Mr. Traynor.

[clerriehibs]

Morton, Dundee are ill prepared to step into their shoes. For the sake of Scottish Football, the only sensible thing to do will be to promote their big cousins to take their place. Shirley no reasonable person can object to that outcome, now that all divisions are operating under the one umbrella of the SPFL.

I don't think the big coudins are ready either.

However, unpalatable as it sounds, the yams would be sooo gutted that it is actually rather appealing.

[Phil D. Rolls]

The season starts in 4 days, if hearts go liquid any time soon they will cease to exist for the rest of the season at least.

Didn't rangers already have the newco set up and waiting? Hearts are donald ducked now if they go in to liquidation, 1 full year with 0 revenue and only £20 monthly direct debits from die hard fans is not enough to start a new club.

Is there any possibility the SPFL would just pretend nothing is happening and let the Yams keep playing games until they fail to field a team? I'm not talking about the real world here, more the parallel universe that football seems to operate in.

[derekHFC]

The EEN's take on what happens next - HERE (http://www.edinburghnews.scotsman.com/news/hearts-administration-q-a-your-questions-answered-1-3021138)

[CropleyWasGod]

Is there any possibility the SPFL would just pretend nothing is happening and let the Yams keep playing games until they fail to field a team? I'm not talking about the real world here, more the parallel universe that football seems to operate in.

In the current situation, that's all the SPFL can do. See Bajillions' excellent reasoning for that above.

If they go into liquidation, as I say, they stop trading. The doors are locked.

[Sylar]

It's alright! Hang off on the Doomsday predictions! The Hibs tickets are selling well and they're having a "Trial of Gary Locke" in the Gorgie Suite this coming Monday where tickets are £10 each!

#allisonceagainbarry...

[clerriehibs]

If the company goes into liquidation, it stops trading.

A NewCo, if it took over the club, would have to move very quickly in order for it to operate this season.

They'll make it into the season.

Is it then beyond the realms of possibility for them to hold a gun to the SPFL to get an advance on any monies due, painting a picture that sees them complete the season still in admin? And the SPFL avoiding the club in liquidation fall out?

Surely the Lithuanians have months of untangling the UKIO/UBIG mess?

They may be tempted to postpone the recovery of this paltry amount if homfc can claim to expect a full season of trading, in the hope another, better suitor comes along?

[Hibs07p]

The EEN's take on what happens next - HERE (http://www.edinburghnews.scotsman.com/news/hearts-administration-q-a-your-questions-answered-1-3021138)

Nothing we didn't already know about from info on here. :greengrin

GGTTH

[CropleyWasGod]

They'll make it into the season.

Is it then beyond the realms of possibility for them to hold a gun to the SPFL to get an advance on any monies due, painting a picture that sees them complete the season still in admin? And the SPFL avoiding the club in liquidation fall out?

Surely the Lithuanians have months of untangling the UKIO/UBIG mess?

They may be tempted to postpone the recovery of this paltry amount if homfc can claim to expect a full season of trading, in the hope another, better suitor comes along?

IIRC, they are due money in August.

What you're suggesting, though, if I read it right, is an advance further down the line when the money starts to run out? By that time, I reckon the L word will be writ much larger.

Balance that, too, against the possibility of the SFA demanding a bond when they meet on Thursday. That would really sting.

[Heisenberg]

According to #allisbarry Massone hasn't given any proof of funding yet...

[Gus Fring]

The EEN's take on what happens next - HERE (http://www.edinburghnews.scotsman.com/news/hearts-administration-q-a-your-questions-answered-1-3021138)

Sat at my desk with a cup of coffee catching up on this thread.

*Clicks above link*

"Football finance expert Neil Patey..."

*Immediately closes tab*

[ballengeich]

T
Surely the Lithuanians have months of untangling the UKIO/UBIG mess?

They may be tempted to postpone the recovery of this paltry amount if homfc can claim to expect a full season of trading, in the hope another, better suitor comes along?

That sounds quite possible. It'll take years rather than months to untangle Vlad's legacy - the paperwork may not be entirely intact.

Bathgate's piece in the Scotsman seemed to be based on a view that the Lithuanian administrators would be looking for a quick resolution of Hearts' affairs. I don't see why given the scale of their other work.

They could even leave Tynecastle empty if they don't like the offers. Without continual maintenance, I don't think it would be that long before the cost of structural repairs would make continued use as a football stadium impractical, meaning that any council attempts to aid Hearts by blocking redevelopment for other purposes would become pointless. After a short period of neglect the regular appearance of wind-blown lumps of asbestos and stand roof in Gorgie Road would lead to demands for some nice modern flats to be built.

[s.a.m]

That sounds quite possible. It'll take years rather than months to untangle Vlad's legacy - the paperwork may not be entirely intact.

Bathgate's piece in the Scotsman seemed to be based on a view that the Lithuanian administrators would be looking for a quick resolution of Hearts' affairs. I don't see why given the scale of their other work.

They could even leave Tynecastle empty if they don't like the offers. Without continual maintenance, I don't think it would be that long before the cost of structural repairs would make continued use as a football stadium impractical, meaning that any council attempts to aid Hearts by blocking redevelopment for other purposes would become pointless. After a short period of neglect the regular appearance of wind-blown lumps of asbestos and stand roof in Gorgie Road would lead to demands for some nice modern flats to be built.

:dunno: But who would run them in the meantime? BDO would be prohibitively expensive, wouldn't they?


Edit: quoted wrong post......should have been Clerrie Hibs one about them limping along in the meantime, while the Liths dither.

[ScottB]

Surely the Liths will move sooner rather than later? Leaving them in admin just increases the amount due to BDO and reduces what they will get?

[CropleyWasGod]

Sat at my desk with a cup of coffee catching up on this thread.

*Clicks above link*

"Football finance expert Neil Patey..."

*Immediately closes tab*

You can be such a bitch.

[robinp]

You can be such a bitch.

I was thinking the same as Bajillions, the boy Patey is a windbag, as the Rangers fallout showed.

[Phil D. Rolls]

According to #allisbarry Massone hasn't given any proof of funding yet...

Event : Massone has no money.

[robinp]

Surely the Liths will move sooner rather than later? Leaving them in admin just increases the amount due to BDO and reduces what they will get?

BDO may have agreed a fixed fee or a % of sale price as a fee.

Wgere i work, although not a big 4 IP firm/accountants, the bank instructed admins/liquidations I have worked on commonly are fixed fee, and you effectively tender for the work.

[CropleyWasGod]

Event : Massone has no money.

Barry:- FOH in line to take over Hearts.

[Sanger]

Surely the Liths will move sooner rather than later? Leaving them in admin just increases the amount due to BDO and reduces what they will get?


they can put the proceeds in trust until Romanov web untangled.


Would that mean that Newyam would have a place to play until it is sold? Maybe even rent free, as a goodwill gesture.

All they'd have to do is pay maintenance of the stadium to meet safety requirements, council tax etc.....oh, wait.








Is this right?

The figure I have seen is £200m for the bailout of Ukio

[#FromTheCapital]

Evening News Sport ‏@edinburghsport 3m (https://twitter.com/edinburghsport/status/362158831532380160) Hearts fans refuse to give up fight for club as takeover bid is rejected http://bit.ly/1bEOYZk (http://t.co/7QULtLmmXD)


Former chairman George Foulkes said the blanket brush-off was akin to “horse trading” and warned that driving the club to extinction was a dysfunctional financial gamble.
He said: “I’m a big fan of Dad’s Army and as Lance-
Corporal Jones would say ‘Don’t panic!’. We are not at the stage of Private Fraser’s ‘We’re doomed’ and in my view this is all part of normal negotiating procedure.
“It’s the Foundation and the Massone bid which the Lithuanian administrators are using to try to get as much as they can out of the administration process. Now is the time for more people to come in and back the Foundation of Hearts.
“If there is a gap between what the Lithuanian administrator wants and what’s been offered, the Foundation will be more able to bridge that gap if more people get involved.”
He added: “The one thing the administrators have to realise is that if the club goes into liquidation they won’t get more, they will get less.
“The only people who can make profitable use of the asset is the football club. It’s not like the old situation [in 2004] when Cala Homes were willing to pay a huge amount of money to build flats.
“The property market has collapsed and the number of empty properties in Edinburgh enormous. There is an availability of land, particularly around Fountainbridge where you can find acres and acres of empty space, so liquidation will be a fire sale and is going to make less. They are better selling it as a going concern.”




:faf::faf::faf::faf: Foulkes ya ****in roaster

[Sylar]

Evening News Sport ‏@edinburghsport3m (https://twitter.com/edinburghsport/status/362158831532380160)Hearts fans refuse to give up fight for club as takeover bid is rejected http://bit.ly/1bEOYZk (http://t.co/7QULtLmmXD)


Former chairman George Foulkes said the blanket brush-off was akin to “horse trading” and warned that driving the club to extinction was a dysfunctional financial gamble.
He said: “I’m a big fan of Dad’s Army and as Lance-
Corporal Jones would say ‘Don’t panic!’. We are not at the stage of Private Fraser’s ‘We’re doomed’ and in my view this is all part of normal negotiating procedure.
“It’s the Foundation and the Massone bid which the Lithuanian administrators are using to try to get as much as they can out of the administration process. Now is the time for more people to come in and back the Foundation of Hearts.
“If there is a gap between what the Lithuanian administrator wants and what’s been offered, the Foundation will be more able to bridge that gap if more people get involved.”
He added: “The one thing the administrators have to realise is that if the club goes into liquidation they won’t get more, they will get less.
“The only people who can make profitable use of the asset is the football club. It’s not like the old situation [in 2004] when Cala Homes were willing to pay a huge amount of money to build flats.
“The property market has collapsed and the number of empty properties in Edinburgh enormous. There is an availability of land, particularly around Fountainbridge where you can find acres and acres of empty space, so liquidation will be a fire sale and is going to make less. They are better selling it as a going concern.”




:faf::faf::faf::faf: Foulkes ya ****in roaster

How in the name of **** did that halfwit get a peerage?!

:dunno:

[Phil D. Rolls]

Evening News Sport ‏@edinburghsport 3m (https://twitter.com/edinburghsport/status/362158831532380160) Hearts fans refuse to give up fight for club as takeover bid is rejected http://bit.ly/1bEOYZk (http://t.co/7QULtLmmXD)


Former chairman George Foulkes said the blanket brush-off was akin to “horse trading” and warned that driving the club to extinction was a dysfunctional financial gamble.
He said: “I’m a big fan of Dad’s Army and as Lance-
Corporal Jones would say ‘Don’t panic!’. We are not at the stage of Private Fraser’s ‘We’re doomed’ and in my view this is all part of normal negotiating procedure.
“It’s the Foundation and the Massone bid which the Lithuanian administrators are using to try to get as much as they can out of the administration process. Now is the time for more people to come in and back the Foundation of Hearts.
“If there is a gap between what the Lithuanian administrator wants and what’s been offered, the Foundation will be more able to bridge that gap if more people get involved.”
He added: “The one thing the administrators have to realise is that if the club goes into liquidation they won’t get more, they will get less.
“The only people who can make profitable use of the asset is the football club. It’s not like the old situation [in 2004] when Cala Homes were willing to pay a huge amount of money to build flats.
“The property market has collapsed and the number of empty properties in Edinburgh enormous. There is an availability of land, particularly around Fountainbridge where you can find acres and acres of empty space, so liquidation will be a fire sale and is going to make less. They are better selling it as a going concern.”




:faf::faf::faf::faf: Foulkes ya ****in roaster

He's a stupid boy. He actually reminds me of a combination of Hodges and Mr. Yateman the verger. Both officious minor characters on the edge of a circus that won't listen to them, or let them participate.

Just waiting for Fuggup to tell the Lith ambassador his booking for a tea dance at the village hall is now no longer guaranteed.


How in the name of **** did that halfwit get a peerage?!

:dunno:

To make the rest of them look intelligent?

[lapsedhibee]

:faf::faf::faf::faf: Foulkes ya ****in roaster

:agree:

How many acres does the Wongadome site take up? I see that the completely independent council report estimated 12-16 acres for a new stadium site, but can't find any reference to the existing size. Befittingly big, obviously, but how big approximately? :dunno:


How in the name of **** did that halfwit get a peerage?!

:dunno:

Services to the dry cleaning industry. The amount of drool, slaver, etc, that he's produced, single-handedly, over the years will have kept untold hordes in continuous employment.

[Liberal Hibby]

Evening News Sport ‏@edinburghsport 3m (https://twitter.com/edinburghsport/status/362158831532380160) Hearts fans refuse to give up fight for club as takeover bid is rejected http://bit.ly/1bEOYZk (http://t.co/7QULtLmmXD)


particularly around Fountainbridge where you can find acres and acres of empty space, ”




:faf::faf::faf::faf: Foulkes ya ****in roaster

Yeh - between your ears!

[Geo_1875]

Love the picture on the EEN story with the title "Neil Patey is a football finance expert."

Says who?

[Treadstone]

Sat at my desk with a cup of coffee catching up on this thread.

*Clicks above link*

"Football finance expert Neil Patey..."

*Immediately closes tab*

:agree:

Q What happens if Hearts enter liquidation?
A For Hearts to continue to exist, you would need a buyer to come along who was happy to set up a newco, buy the assets and apply for membership to League Two.

Patey has called it, League Two it is then. He should advise the SPFL because as yet there is no clarity on this. :cb

[Sanger]

:agree:


Patey has called it, League Two it is then. He should advise the SPFL because as yet there is no clarity on this. :cb

Going by the press reports the SPFL will just let Hearts soldier on, not asking for their ability to trade for the whole season, and if they are liquidated after the season has started will declare all their results null and void and have a league of 11.

[Phil D. Rolls]

Going by the press reports the SPFL will just let Hearts soldier on, not asking for their ability to trade for the whole season, and if they are liquidated after the season has started will declare all their results null and void and have a league of 11.

So, basically, move along nothing to see here?

[Gettin' Auld]

Keep believing ya pish stained jakey.

10732

[Keith_M]

Going by the press reports the SPFL will just let Hearts soldier on, not asking for their ability to trade for the whole season, and if they are liquidated after the season has started will declare all their results null and void and have a league of 11.


Exactly, the interview with Donkeycaster was just how I imagined it. Nothing bad has happened and everything will be OK.


"All we can do is continue to monitor the situation" (English: Flucked if I know!)



With leaders of such intelligence and forethought, our game is in good hands indeed.