Share Transfers Agreed/Cooling off period

[7062]

When are their next lot of wages due? Is it Friday?

[Mikey]

When are their next lot of wages due? Is it Friday?

Yep.

[JeMeSouviens]

I would wager that there would be an extra few thousand on the gate if they thought it was the very last game at Tynie.

Then there's the souvenir Vlad masks and plastic submarines that will be on sale.....

There will be, but they're buying the tickets up front. According to kickback, only 600 left plus 2 sections of the Roseburn still closed/kept for away support.

[7062]

Yep.

Would i be correct to assume that all funds will probably be diverted to pay the £450k due to the revenue should the fans/ex players/kids selling bikes not stump up enough in the next few days and that there's therefore a good chance wages will not be paid on time again? Hope I am!

[JeMeSouviens]

What's happening with the money they're raising? Is it just being piled into share purchases?

It would be funny as fek if they raised enough to pay the bill, gave it to Vlad, and he did a runner with it :greengrin

I suspect a lot of the money they've "raised" is actually just ticket sales.

[Mikey]

Would i be correct to assume that all funds will probably be diverted to pay the £450k due to the revenue should the fans/ex players/kids selling bikes not stump up enough in the next few days and that there's therefore a good chance wages will not be paid on time again? Hope I am!

If they've got £450k they'll pay it but I doubt they have, even if they do hold back the wages. I don't see how they can pay either without Vlad pouring more money down the drain.


I suspect a lot of the money they've "raised" is actually just ticket sales.

Gotcha. That goes into one of the suitcases then :agree:

[CropleyWasGod]

There will be, but they're buying the tickets up front. According to kickback, only 600 left plus 2 sections of the Roseburn still closed/kept for away support.

Ah ok, hadn't realised that.

In that case, there would be no point in having the game if the liquidator is appointed on Thursday or Friday. If it were Monday, that would be a different story.

Oh.... that would mean that all those who had paid for tickets would join the list of creditors........ :aok:

[matty_f]

If they've got £450k they'll pay it but I doubt they have, even if they do hold back the wages. I don't see how they can pay either without Vlad pouring more money down the drain.

Their wages won't be an issue (yet) this week if players and staff are happy enough (or at least willing enough ) to defer the payments, though they will expect to be paid that money at some point, so again they're just robbing Peter to pay Paul.

[Mikey]

Their wages won't be an issue (yet) this week if players and staff are happy enough (or at least willing enough ) to defer the payments, though they will expect to be paid that money at some point, so again they're just robbing Peter to pay Paul.

There's a bit on the PM board about deferring the wages and why they can't!

Well, not under the rules anyway.

[matty_f]

There's a bit on the PM board about deferring the wages and why they can't!

Well, not under the rules anyway.

Splendid! :thumbsup:

[Col2]

What's find remarkable is almost 6 days after the doomsday announcement re winding up order they STILL haven't sold out the St Mirren home game!!!! Still 700 home tickers to sell! Don't get me wrong it will sell out but I thought they needed to sell out the other home games as well?

Also it's all gone quiet on the hearts official website..... wonder if they are busy counting the notes and hiding them in the suitcases?!?

[Mikey]

Splendid! :thumbsup:

It may be irrelevant anyway. The last time I looked Friday was after Thursday.

And everything stops on Thursday :greengrin

[matty_f]

What's find remarkable is almost 6 days after the doomsday announcement re winding up order they STILL haven't sold out the St Mirren home game!!!! Still 700 home tickers to sell! Don't get me wrong it will sell out but I thought they needed to sell out the other home games as well?

Also it's all gone quiet on the hearts official website..... wonder if they are busy counting the notes and hiding them in the suitcases?!?

They're maybe charged per article :greengrin

[7062]

It may be irrelevant anyway. The last time I looked Friday was after Thursday.

And everything stops on Thursday :greengrin

Wonderful timing if they do get through Thursday though!

[euansdad]

Lot of tickets apparently free to kids etc. in regard tithe Scottish government, what's the latest with them? Surely they can't get involved?

[The_Sauz]

There will be, but they're buying the tickets up front. According to kickback, only 600 left plus 2 sections of the Roseburn still closed/kept for away support.

How many FREE tickets did the hand out to the school kids for this game?


It may be irrelevant anyway. The last time I looked Friday was after Thursday.

And everything stops on Thursday :greengrin

Will that be 5pm or 23:59 on Thursday......just want to make sure I don't doze off :wink:

[Phil D. Rolls]

Lot of tickets apparently free to kids etc. in regard tithe Scottish government, what's the latest with them? Surely they can't get involved?

Said they'll do "all they can". Looks like they have.

[The Falcon]

Vlad is well ****ed...

In turn they are well ****ed...

Hahaha

Can somebody enlighten me but would Vlad going bust not be, in theory at least, the best thing that could happen to the Yams in their current situation?

[gogse]

Whether or not they get through this round of financial crises, the fact remains that they have gone public with the begging bowl.

We have known for years of their situation and have lost what little respect we might have had for them. Now the whole of the UK and beyond knows what a shambles they really are.

Respect in this club (country wide) has plummeted faster than Ukio Bankas shares.

No longer can they hold their heads high and call themselves a big team.

[CropleyWasGod]

Can somebody enlighten me but would Vlad going bust not be, in theory at least, the best thing that could happen to the Yams in their current situation?

By Vlad, I take it you mean UBIG.

Actually, it wouldn't help at all. Indeed, it would probably be worse. The liquidator, or its equivalent in Lithuania, would pursue Hearts for the money they owe UBIG... which would mean exercising their security and taking over Tynie.

[Just Alf]

Can somebody enlighten me but would Vlad going bust not be, in theory at least, the best thing that could happen to the Yams in their current situation?

Don't think so.....

with the huns it was a gradual change from one entity into a new one..... with our "friends" across the city it would be a crash.... no team, no stadium, no anything in fact... they'd be gone. a new club would need to be created and take on the name of HoMFC but they'd need to apply for access to the leagues.... with Rankgers there was a semblance of continuity which meant the powers that be could be somewhat flexible.... in the Yams situation that wouldn't be open. ... If they can hold on until Feb/March then go the Admin route they might just survive but at great cost of being uncompetitive for years......and if it's UBIG that goes 1st, then we're looking at a house of cards falling (i.e a Crash as per above!) ..... IMHO of course! :wink:

[Hibbyradge]

It really concerns me that barns will go without Christmas parents as their Yam parents pour their money into the PBS money pit. I think that we should raise money to buy them presents in the true Christian spirit.


And just think of the timely revenue boost for the Hibs shop. :greengrin

:thumbsup::top marks

[Craig_in_Prague]

Whats this fighting fund all about?

[Saorsa]

Whats this fighting fund all about?Maybe it has something tae do with this :hilarious



http://www.youtube.com/watch?v=fyOnlq0bUR4

[cheltenhamhibee]

Whats this fighting fund all about?


Can we persuade Skacel to set one up ? I'd gladly pay for the pleasure of battering the horrible welt senseless :thumbsup:

[Jim44]

I heard on the news that an under-20 game between Motherwell and Hearts at Fir Park has been moved to the PBS to allow them to get some cash.

[jacomo]

Whats this fighting fund all about?

Seems to be an independent effort backed by a few ex-players. It would make sense if it was specifically to help reconstruction of the club after whatever happens next... but Gary Locke seemed to be saying that it could be used to settle bills for the current company.

Basically, if Vlad has a bill he can't be bothered to pay, he'll just dip into this wee stash as well.

Presumably all the various factions, committees and groups that claim to represent the Hearts support will have their own fund by the end of the week too, and then will fight over who gets to pay the next bill so they can call a press conference about it.

[Mikey]

Seems to be an independent effort backed by a few ex-players. It would make sense if it was specifically to help reconstruction of the club after whatever happens next... but Gary Locke seemed to be saying that it could be used to settle bills for the current company.

Basically, if Vlad has a bill he can't be bothered to pay, he'll just dip into this wee stash as well.

Presumably all the various factions, committees and groups that claim to represent the Hearts support will have their own fund by the end of the week too, and then will fight over who gets to pay the next bill so they can call a press conference about it.


Those behind the new '1874 fighting fund' say money raised will go into a separate account.

At least they know where the share money is going.

And as was mentioned earlier, I'm sure Alloa would have loved a personal donation from their Player/Manager, rather than him giving it to another club.

[matty_f]

At least they know where the share money is going.

And as was mentioned earlier, I'm sure Alloa would have loved a personal donation from their Player/Manager, rather than him giving it to another club.

I'm sure they'll understand, after all, Alloa - small club as they undoubtedly are - aren't on the brink of being wiped off the erse of the planet, unlike the Yams.

[Ozyhibby]

http://www.hmfckickback.co.uk/index.php?/topic/120405-looks-like-it-is-because-vlad-has-no-money/#entry3244296

Looks like they have just worked out that Vlad's company might be in a bit of bother. First time I've seen a thread like this over there. They really are an incurious bunch.

[Col2]

http://www.hmfckickback.co.uk/index.php?/topic/120405-looks-like-it-is-because-vlad-has-no-money/#entry3244296

Looks like they have just worked out that Vlad's company might be in a bit of bother. First time I've seen a thread like this over there. They really are an incurious bunch.

The best bit is this "HMFC's debt is around £24 million, around 70% of the current market cap of UKIO".

GAME OVER

[greenginger]

Couple of cracking posts over on that Kickback thread.

One guy consoles himself with the thought Vlad ain't funding the Yams now because he has no money, rather than because he does not care anymore.

Another guy thinks the ukio Bankas share price collapse has more to do with Lithuania not entering the Euro any time soon than anything else.

:greengrin :greengrin :greengrin

Talk about being slow on the up-take, all Vlad's businesses have been a basket case for years.

[truehibernian]

Couple of cracking posts over on that Kickback thread.

One guy consoles himself with the thought Vlad ain't funding the Yams now because he has no money, rather than because he does not care anymore.

Another guy thinks the ukio Bankas share price collapse has more to do with Lithuania not entering the Euro any time soon than anything else.

:greengrin :greengrin :greengrin

Talk about being slow on the up-take, all Vlad's businesses have been a basket case for years.

I've never ever read kickback nor am I ever tempted, but a Hearts supporter told me today that its all over that site that a consortium of businessmen are planning to buy them for £30 million - needless to say GG I phoned the ambulance and have informed his next of kin.

Cloud cuckoo land has a plot reserved for the new Tynecastle I tell ya.

[Seveno]

I heard on the news that an under-20 game between Motherwell and Hearts at Fir Park has been moved to the PBS to allow them to get some cash.

You mean to save the bus fare.

[gringojoe]

You mean to save the bus fare.

or because they have not paid Newtongrange for the use of their pitch,

[ScottB]

I heard on the news that an under-20 game between Motherwell and Hearts at Fir Park has been moved to the PBS to allow them to get some cash.

Isn't it because Newtongrange have told them to bolt for not paying to use their ground?

[Hibercelona]

Couple of cracking posts over on that Kickback thread.

One guy consoles himself with the thought Vlad ain't funding the Yams now because he has no money, rather than because he does not care anymore.

Another guy thinks the ukio Bankas share price collapse has more to do with Lithuania not entering the Euro any time soon than anything else.

:greengrin :greengrin :greengrin

Talk about being slow on the up-take, all Vlad's businesses have been a basket case for years.

Vlad doesn't have anywhere near as much cash as people are led to believe. :wink:

[Rossco1875]

Maybe it has something tae do with this :hilarious



http://www.youtube.com/watch?v=fyOnlq0bUR4

One of my all time favourites :greengrin I worked with one of the boys fighting brother a couple of years ago:lolyam: certainly one I will be showing the kids and grand kids in years to come.

[jdships]

Don't think so.....

with the huns it was a gradual change from one entity into a new one..... with our "friends" across the city it would be a crash.... no team, no stadium, no anything in fact... they'd be gone. a new club would need to be created and take on the name of HoMFC but they'd need to apply for access to the leagues.... with Rankgers there was a semblance of continuity which meant the powers that be could be somewhat flexible.... in the Yams situation that wouldn't be open. ... If they can hold on until Feb/March then go the Admin route they might just survive but at great cost of being uncompetitive for years......and if it's UBIG that goes 1st, then we're looking at a house of cards falling (i.e a Crash as per above!) ..... IMHO of course! :wink:


Think your supposition is just about spot on
Problem is no one ,but no one outside Romanov and his Mafioso knows the true state of play .
It is all rumour and counter rumour as far as the supporters and ' non interested parties' like us are concerned .
I suppose it now all revolves around HMRC and what action they intend to take or are granted .:greengrin
Good post :thumbsup:

[EuanH78]

Looks like the penny might have dropped for Martin T on kickback

'All of which could mean that £5 million in real money is better than £24 million on paper for Vlad currently. '

He should get a prize IMO :agree:

Thinking a cake or something

[AndyM_1875]

http://www.hmfckickback.co.uk/index.php?/topic/120405-looks-like-it-is-because-vlad-has-no-money/#entry3244296

Looks like they have just worked out that Vlad's company might be in a bit of bother. First time I've seen a thread like this over there. They really are an incurious bunch.

Sergey has been saying that for days.
It's been on the PM Board & this board too.

These Jambos really are as thick as mince.

[MSK]

8862

[Mon Dieu4]

have they signed David Goodwillie on loan yet?

[SteveHFC]

have they signed David Goodwillie on loan yet?

have they signed their 2 world cup stars yet? :wink:



















Oh aye i forgot. They signed the famous Christian Nade and Nerijus Barasa
:faf:

[WindyMiller]

Looks like the penny might have dropped for Martin T on kickback

'All of which could mean that £5 million in real money is better than £24 million on paper for Vlad currently. '

He should get a prize IMO :agree:

Thinking a cake or something



:faf::faf:

[H1bs6H3arts2 FC]

have they signed David Goodwillie on loan yet?

:faf:

[jonny]

Isn't it because Newtongrange have told them to bolt for not paying to use their ground?

Correct - they are owe the Star about £3k. They were sent a letter last week informing them if they didn‘t pay this week their use of the facilities would be withdrawn. As far as I know they haven‘t paid.

[monktonharp]

Correct - they are owe the Star about £3k. They were sent a letter last week informing them if they didn‘t pay this week their use of the facilities would be withdrawn. As far as I know they haven‘t paid.no big deal, Gary's fighting fund will cover that. helps a wee club, and a big club at one swoop. that's Gary, what a man.

[JoeT_WasTheBest]

no big deal, Gary's fighting fund will cover that. helps a wee club, and a big club at one swoop. that's Gary, what a man.

Deserves a medal for that...

[Viva_Palmeiras]

http://www.hmfckickback.co.uk/index.php?/topic/120405-looks-like-it-is-because-vlad-has-no-money/#entry3244296

Looks like they have just worked out that Vlad's company might be in a bit of bother. First time I've seen a thread like this over there. They really are an incurious bunch.

Was that Entwhistle fella a Yam - how did that new job work out for him?

The cake bake went down a storm - Christian Nade bought and scoffed the lot. The only drawback he's stuck and blocked access to the club ;)

[matty_f]

The cake bake went down a storm - Christian Nade bought and scoffed the lot. The only drawback he's stuck and blocked access to the club ;)

And that was on his way in!!

[ScottB]

no big deal, Gary's fighting fund will cover that. helps a wee club, and a big club at one swoop. that's Gary, what a man.

They should! Even Rangers's 'Fighting Fund' coughed up to some of the creditor clubs...

[matty_f]

Scotsman reckons the fans have raised about half of what they need for Thursday. I would have thought most folk who are going to help would have done so by now.
They're goosed.

[The_Sauz]

Did Fedotovas not say Vlad was coming over soon, and he is just waiting for the fixture list :confused: (somebody should tell him that Hearts have a website that give in the info he needs) I reckon Vlad is just waiting for them to cough up the share cash so he can fuel up his new jet :greengrin
http://www.newsrt.co.uk/news/hearts-owner-vladimir-romanov-buys-17m-jet-69482.html

Read the article underneath it :tee hee:

[Heraghty's]

Share price of Ukio Bankas has plummeted by more than 21% in the past week.
They're fekked.
Vlad will be disappearing in his submarine any day now. :agree:

[Hibercelona]

Did Fedotovas not say Vlad was coming over soon, and he is just waiting for the fixture list :confused: (somebody should tell him that Hearts have a website that give in the info he needs) I reckon Vlad is just waiting for them to cough up the share cash so he can fuel up his new jet :greengrin
http://www.newsrt.co.uk/news/hearts-owner-vladimir-romanov-buys-17m-jet-69482.html

Read the article underneath it :tee hee:

And to think.... all their Christmas money will go towards helping him recoup some of that money back. :cb

At least their "savior" will be having a very merry Christmas this year. :tee hee:

[Moulin Yarns]

There is apparently a new word in the Oxford English Dictionary.......



Omnishambles

[Hibernia Na Eir]

Scotsman reckons the fans have raised about half of what they need for Thursday. I would have thought most folk who are going to help would have done so by now.
They're goosed.

unfortunately, I think that the "talks" they're having with The Revenue just now will buy them more time and therefore allow time to sell more cakes. They'll need the Dundee Utd player back to serve pints again in that scaby pub in tollcross too.

[matty_f]

unfortunately, I think that the "talks" they're having with The Revenue just now will buy them more time and therefore allow time to sell more cakes. They'll need the Dundee Utd player back to serve pints again in that scaby pub in tollcross too.

I mind Rangers saying they were optimistic about taking with hmrc.....

[Ozyhibby]

unfortunately, I think that the "talks" they're having with The Revenue just now will buy them more time and therefore allow time to sell more cakes. They'll need the Dundee Utd player back to serve pints again in that scaby pub in tollcross too.

I think the revenue will look at what they have raised so far and compare it with what they need to raise and draw the same conclusion we have.
I also doubt that Hearts have been willing to share all of their financials with the revenue which will not please them.
Unless the money arrives from Lithuania or the take the shocking deal from Sevco then they are goosed.
Thursday should be fun.

[green glory]

https://twitter.com/ohenleyalex/status/268256695824830465

So is this for the 450k or the 1.75m?

[bingo70]

If they've raised 200k so far can we assume the 1.75m target from the share issue was maybe a bit ambitious?

[Part/Time Supporter]

https://twitter.com/ohenleyalex/status/268256695824830465

So is this for the 450k or the 1.75m?

The 450K. The tax case hasn't been decided or settled. HMRC won't chase for that cash until that happens.

[Caversham Green]

I think the revenue will look at what they have raised so far and compare it with what they need to raise and draw the same conclusion we have.
I also doubt that Hearts have been willing to share all of their financials with the revenue which will not please them.
Unless the money arrives from Lithuania or the take the shocking deal from Sevco then they are goosed.
Thursday should be fun.

That's why HMRC raised the WUP in the first place. According to Fedotovas they had agreed to give them time to raise money through the share issue and then when the brochure was published it made no mention of the tax liability so HoMFC were either lying to HMRC or to their prospective 'investors'. HMRC could not accept either of those.

[Mikey]

The 450K. The tax case hasn't been decided or settled. HMRC won't chase for that cash until that happens.


That's why HMRC raised the WUP in the first place. According to Fedotovas they had agreed to give them time to raise money through the share issue and then when the brochure was published it made no mention of the tax liability so HoMFC were either lying to HMRC or to their prospective 'investors'. HMRC could not accept either of those.

Do you chaps reckon HMRC will go for a payment plan? If the stories are true then Hearts have failed to keep up with them before.

[Caversham Green]

Do you chaps reckon HMRC will go for a payment plan? If the stories are true then Hearts have failed to keep up with them before.

I wouldn't if I was Hector. If HoMFC continue in business they will be generating more tax liabilities and their results and projections show that they will be unable to meet them, let alone pay up arrears. On the other hand if they pay up a big chunk of the bill now, HMRC might defer the winding up until the next time they fail to pay so at least they get some of what they're due. HoMFC have gone all out to raise money this time, next time they won't be able to raise nearly as much - 'investors' will be more wary and there won't be any bairns' Christmas money to rob.

[CentreLine]

Do you chaps reckon HMRC will go for a payment plan? If the stories are true then Hearts have failed to keep up with them before.

It looks a lot like the end game by Vlad. My take on Vlad's refusal of the The Rangers money is that he sees the liquidation looming. The reduced amount offered by The rangers would simply pay this tax bill. After liquidation the full amount will still be due by The rangers but it would go to Vlad via UKIO after tax.

I don't want them gone but Would the last one out please turn off the lights.

[greenginger]

Do you chaps reckon HMRC will go for a payment plan? If the stories are true then Hearts have failed to keep up with them before.

An earlier statement from Fedatodus said HMRC would not entertain a payment plan because of previous failures of the Club to stick to agreed plans.

Of course, that might have been part of the plan to get the fund raising moving.

A lot would depend on an income/expenditure projection for the next 3 or 4 months showing Hearts could cope with their contracted liabilities.

It would also be dependent on Vlad wanting a payment plan. :greengrin

http://www.nasdaqomxbaltic.com/market/?instrument=LT0000102352&list=2&currency=LTL&pg=details&tab=realtime


The Ukio submarine looking for the bottom of the Marianas Trench. :greengrin

[Liberal Hibby]

Just wondering whether this (http://www.bleedingheart.co.uk/tavern/) might be the place for London hibbies to meet on Thursday to 'watch the results come in' as it were?

[JeMeSouviens]

Jambo journo Ewan Murray in the Guardian:

http://www.guardian.co.uk/football/blog/2012/nov/13/foundation-hearts-vladimir-romanov

Presumably this is the much rumoured "consortium" that's been poised to swoop in heroically. Hope so. :wink: All the right noises (for Hibbies) are there: need Vlad to write off all the debt, relies completely on income from the fans including another share issue. In short, no pot for the purposes of urination. :greengrin

Can't believe the Grauniad publish this level of fan-with-laptop wishful thinking. Presumably it's filed under Football->Scottish->WGAF. :rolleyes:

[Part/Time Supporter]

The Foundation has sought to inherit a debt-free club, something Romanov has the capability to provide given the majority sums owed to his Ukio Bankas Investment Group. For those who question why Romanov would agree to such a deal, there is the prospect of that legacy being enhanced by him passing Hearts on to supporters. The club would look in stronger health than when he completed his takeover, seven years ago.

ie Vlad will write off all of the debt and release his security on Tynecastle out of the kindness of his heart.

:faf:

[DaveF]

ie Vlad will write off all of the debt and release his security on Tynecastle out of the kindness of his heart.

:faf:

He might get that statue after all :greengrin

[JeMeSouviens]

This is my favourite bit:


Yet despite being in advanced talks, the club elected to go to the fans with their own share issue, thereby seeking to raise £1.79m.

Does that maybe tell you a wee something about how the talks were going, Ewan? Come on, you must have a little journalistic hunch there. :rolleyes:

[DarrenSQH]

http://www.nasdaqomxbaltic.com/market/?instrument=LT0000102352&list=2&currency=LTL&pg=details&tab=realtime


The Ukio submarine looking for the bottom of the Marianas Trench. :greengrin

Great reading. Watching it go from -5.83% to minus 6.67% was fun.

[brog]

Yams have admitted they've previously had higher outstanding bills to HMRC than the £500 k currently owed. This means effectively that Yams have enjoyed up to £1mm interest free loan for several years. This loan, which is partially income from sales of tickets to other clubs, has allowed them to sign & retain players they otherwise couldn't afford. We & all other clubs have helped Yams buy players to play against us & they expect sympathy!!
Ps, I'm assuming that if penalties were previously applied that knowledge would be public by now.

[Peevemor]

Yams have admitted they've previously had higher outstanding bills to HMRC than the £500 k currently owed. This means effectively that Yams have enjoyed up to £1mm interest free loan for several years. This loan, which is partially income from sales of tickets to other clubs, has allowed them to sign & retain players they otherwise couldn't afford. We & all other clubs have helped Yams buy players to play against us & they expect sympathy!!
Ps, I'm assuming that if penalties were previously applied that knowledge would be public by now.

There's interest on late payments.

[brog]

There's interest on late payments.

Yes, but were they being applied? Sevco got away with millions. It seems there's a different set of rules for ordinary folk vs institutions. L

[degenerated]

Jambo journo Ewan Murray in the Guardian:

http://www.guardian.co.uk/football/blog/2012/nov/13/foundation-hearts-vladimir-romanov

Presumably this is the much rumoured "consortium" that's been poised to swoop in heroically. Hope so. :wink: All the right noises (for Hibbies) are there: need Vlad to write off all the debt, relies completely on income from the fans including another share issue. In short, no pot for the purposes of urination. :greengrin

Can't believe the Grauniad publish this level of fan-with-laptop wishful thinking. Presumably it's filed under Football->Scottish->WGAF. :rolleyes:

What a load of wind and pish. How many consortia of local business men are there that apparently support hearts? Whenever I see them they look like a motley assortment of Neanderthal bloaters with Eddie large perms and mullets, Adidas sambas, pie stained hearts tops stretched over beer guts and union jacks draped across their shoulders.
Yet the media would like to have us believe that their fan base is made up of budding Peter jones's.

Windae lickers the lot of them.

8872

[CropleyWasGod]

Yes, but were they being applied? Sevco got away with millions. It seems there's a different set of rules for ordinary folk vs institutions. L

Did they?

[Stevie Reid]

What a load of wind and pish. How many consortia of local business men are there that apparently support hearts? Whenever I see them they look like a motley assortment of Neanderthal bloaters with Eddie large perms and mullets, Adidas sambas, pie stained hearts tops stretched over beer guts and union jacks draped across their shoulders.
Yet the media would like to have us believe that their fan base is made up of budding Peter jones's.

Windae lickers the lot of them.

8872

Quality :greengrin

[jacomo]

Jambo journo Ewan Murray in the Guardian:

http://www.guardian.co.uk/football/blog/2012/nov/13/foundation-hearts-vladimir-romanov

Presumably this is the much rumoured "consortium" that's been poised to swoop in heroically. Hope so. :wink: All the right noises (for Hibbies) are there: need Vlad to write off all the debt, relies completely on income from the fans including another share issue. In short, no pot for the purposes of urination. :greengrin

Can't believe the Grauniad publish this level of fan-with-laptop wishful thinking. Presumably it's filed under Football->Scottish->WGAF. :rolleyes:

Don't think the Grauniad give a toss about Scottish football, which is a shame because their man David Conn is a decent investigative journalist and could have done a lot of good looking into the Hun / mini-Hun meltdowns.

This article is less of a report and more of an open letter to Mr Romanov to beg him to do the decent thing. Ewan Murray has clearly been approached by whoever is behind this "Foundation" but clearly there is nothing substantial to say about them.

Even if Vlad wanted to write off all Hearts' debt (no indication of that), is he in a position to do so. It would seem that Hearts' debt is not a minor irritation to him but represents a huge chunk of UBIG's "assets". Are they just going to forgive it like that?

[matty_f]

Don't think the Grauniad give a toss about Scottish football, which is a shame because their man David Conn is a decent investigative journalist and could have done a lot of good looking into the Hun / mini-Hun meltdowns.

This article is less of a report and more of an open letter to Mr Romanov to beg him to do the decent thing. Ewan Murray has clearly been approached by whoever is behind this "Foundation" but clearly there is nothing substantial to say about them.

Even if Vlad wanted to write off all Hearts' debt (no indication of that), is he in a position to do so. It would seem that Hearts' debt is not a minor irritation to him but represents a huge chunk of UBIG's "assets". Are they just going to forgive it like that?


I think this is where the debt for equity swaps come into play. That debt didn't go away, UBIG (IIRC, it was they who took the equity in return for the debt) will want that money back - the swap wasn't a debt forgiveness or a write off.

[Part/Time Supporter]

Don't think the Grauniad give a toss about Scottish football, which is a shame because their man David Conn is a decent investigative journalist and could have done a lot of good looking into the Hun / mini-Hun meltdowns.

This article is less of a report and more of an open letter to Mr Romanov to beg him to do the decent thing. Ewan Murray has clearly been approached by whoever is behind this "Foundation" but clearly there is nothing substantial to say about them.

Even if Vlad wanted to write off all Hearts' debt (no indication of that), is he in a position to do so. It would seem that Hearts' debt is not a minor irritation to him but represents a huge chunk of UBIG's "assets". Are they just going to forgive it like that?

They don't have a dedicated Scottish football writer any more. Murray's main job with them now is as their golf writer.

[Caversham Green]

Don't think the Grauniad give a toss about Scottish football, which is a shame because their man David Conn is a decent investigative journalist and could have done a lot of good looking into the Hun / mini-Hun meltdowns.

This article is less of a report and more of an open letter to Mr Romanov to beg him to do the decent thing. Ewan Murray has clearly been approached by whoever is behind this "Foundation" but clearly there is nothing substantial to say about them.

Even if Vlad wanted to write off all Hearts' debt (no indication of that), is he in a position to do so. It would seem that Hearts' debt is not a minor irritation to him but represents a huge chunk of UBIG's "assets". Are they just going to forgive it like that?

I would put it more as an opening of hostilities by this consortium. The article implicitly warns fans against buying shares and drops heavy hints about the evils of Mr Romanov's regime. It insults him then goes on to plead with him to hand over the club debt-free - brilliant.

I notice Save Our Hearts is bigged up in the article and then HoMFC issue this statement - http://www.heartsfc.co.uk/articles/20121113/clubs-advice-for-fans_2241384_2979119.

Coincidence?

[matty_f]

I would put it more as an opening of hostilities by this consortium. The article implicitly warns fans against buying shares and drops heavy hints about the evils of Mr Romanov's regime. It insults him then goes on to plead with him to hand over the club debt-free - brilliant.

I notice Save Our Hearts is bigged up in the article and then HoMFC issue this statement - http://www.heartsfc.co.uk/articles/20121113/clubs-advice-for-fans_2241384_2979119.

Coincidence?


They get more and more dodgy by the day. :agree:

First it was "don't ask questions, just give us the money", now it's "don't trust the folk who could be the good guys, just give us your money".

[jacomo]

I would put it more as an opening of hostilities by this consortium. The article implicitly warns fans against buying shares and drops heavy hints about the evils of Mr Romanov's regime. It insults him then goes on to plead with him to hand over the club debt-free - brilliant.

I notice Save Our Hearts is bigged up in the article and then HoMFC issue this statement - http://www.heartsfc.co.uk/articles/20121113/clubs-advice-for-fans_2241384_2979119.

Coincidence?

That article is a belter.


"There are now 10 organisations actively involved in seeking funds from fans," said a Hearts spokesperson.

"We have dealt with some of these groups before but others have only recently been created and the club has no direct relationship with them.

"For that reason, we would urged supporters to please think twice before parting with their hard-earned money. We would reiterate that the current Share Offer, the recently set up Donation Line - 0131 200 7280 - and buying tickets for upcoming matches at Tynecastle are the best ways to guarantee that the money handed over will go towards club activities."

These reads like a mugger taking your wallet and then warning you to be suspicious of door-to-door salesmen!

If this Foundation is serious, they should have been open and ready to go when the share offer was announced.

[Part/Time Supporter]

I would put it more as an opening of hostilities by this consortium. The article implicitly warns fans against buying shares and drops heavy hints about the evils of Mr Romanov's regime. It insults him then goes on to plead with him to hand over the club debt-free - brilliant.

I notice Save Our Hearts is bigged up in the article and then HoMFC issue this statement - http://www.heartsfc.co.uk/articles/20121113/clubs-advice-for-fans_2241384_2979119.

Coincidence?

Jambo civil war has been declared.

[DC_Hibs]

I would put it more as an opening of hostilities by this consortium. The article implicitly warns fans against buying shares and drops heavy hints about the evils of Mr Romanov's regime. It insults him then goes on to plead with him to hand over the club debt-free - brilliant.

I notice Save Our Hearts is bigged up in the article and then HoMFC issue this statement - http://www.heartsfc.co.uk/articles/20121113/clubs-advice-for-fans_2241384_2979119.

Coincidence?

Only the Saviles could set up campaign groups aimed at steering fans donations (and cake & candy takings) away from the club in their desperate hour of need.

Medals Mackay and his group of merry men want to control who gets paid when HMRC are ready to pull the plug on the cants if they dont get their dosh this week.

A set of spineless phannies who have had this coming to them in 7 years of overspending.

Cheerio.

[WindyMiller]

That article is a belter.



These reads like a mugger taking your wallet and then warning you to be suspicious of door-to-door salesmen!

If this Foundation is serious, they should have been open and ready to go when the share offer was announced.



Just starting to warm up nicely.


:aok:

[flash]

What about the picture at the bottom. How big a fud does the plumber look with that t-shirt on. I await our computer experts efforts.

[Spike Mandela]

Did they?

How much of the PAYE bill did oldco/newco/Rangers pay?

[Saorsa]

Jambo civil war has been declared.:thumbsup:

Hopefully the'll be that busy tearing themselves apart and having a go at each other the whole thing will slide doon the ****ter a bit quicker

[CropleyWasGod]

How much of the PAYE bill did oldco/newco/Rangers pay?

The question wasn't about the PAYE, it was about whether interest was applied. I am 99% certain that it would have been.

[JeMeSouviens]

How much of the PAYE bill did oldco/newco/Rangers pay?

The old Huns paid nothing but the owners lost their business. In what sense is that getting away with it?

New Huns are a new company that bought the assets, the bills have nothing to do with them.

[alexedwards]

It looks a lot like the end game by Vlad. My take on Vlad's refusal of the The Rangers money is that he sees the liquidation looming. The reduced amount offered by The rangers would simply pay this tax bill. After liquidation the full amount will still be due by The rangers but it would go to Vlad via UKIO after tax.

I don't want them gone but Would the last one out please turn off the lights.


This is no more than extreme wishful thinking.

[iwasthere1972]

Sky Sports News are live at Tynecastle at midday.

[Hibby Kay-Yay]

This is no more than extreme wishful thinking.

Which bit?

[Golden Bear]

Sky Sports News are live at Tynecastle at midday.

We're waiting!

:I'm waiti

:wink:

[Spike Mandela]

The old Huns paid nothing but the owners lost their business. In what sense is that getting away with it?

New Huns are a new company that bought the assets, the bills have nothing to do with them.

Anyone who doesn't think Rangers have 'got away' with massive debt and tax avoidance need only visit Ibrox at a home game, visit a small creditors meeting, a ticketus board meeting or speak to HMRC.

So some owner lost his business, so what. Exactly how out of pocket is Whyte? The new company bull**** merely points out how ridiculous administration law is and how corrupt the financial world is. Phoenix companies, what a crock of immoral, cheating pish.

[iwasthere1972]

We're waiting!

:I'm waiti

:wink:

Harry Rednapp donated a hundred quid to Hearts. Gary show us your medals phoned him and 'Arry returned his call. So that's the panic over.

[Gatecrasher]

Sky Sports News are live at Tynecastle at midday.

you have to wait until they have discussed the Chelsea v Liverpool game for the next 3 hours then you might get lucky

[Twa Cairpets]

I would put it more as an opening of hostilities by this consortium. The article implicitly warns fans against buying shares and drops heavy hints about the evils of Mr Romanov's regime. It insults him then goes on to plead with him to hand over the club debt-free - brilliant.

I notice Save Our Hearts is bigged up in the article and then HoMFC issue this statement - http://www.heartsfc.co.uk/articles/20121113/clubs-advice-for-fans_2241384_2979119.

Coincidence?

Anyone else find it weird that they refer to themselves in the third person?

[cabbageandribs1875]

Harry Rednapp donated a hundred quid to Hearts. Gary show us your medals phoned him and 'Arry returned his call. So that's the panic over.



and his wee dug rosie donated 4 large tins of pedigree chum woof woof

[paul_hfc3]

Just realized we all have the same avatar. Thought it was just one guy constantly posting haha.

[Springbank]

Its all gone a wee bit judean people's front over in eh11. I'm with the people's front of judea led by medals mackay

[Caversham Green]

Harry Rednapp donated a hundred quid to Hearts. Gary show us your medals phoned him and 'Arry returned his call. So that's the panic over.

He should be donating to Portsmouth since he helped to ruin them in the first place.

[StevieT]

I'm with the (un)popular peoples front

[le bill]

Its all gone a wee bit judean people's front over in eh11. I'm with the people's front of judea led by medals mackay


personally i'm with the peoples popular front supported by brokeback
:na na:

[YehButNoBut]

Looks like one rich fan is trying to save them, from todays Scotsman

http://www.scotsman.com/news/city-businessmen-look-to-takeover-hearts-1-2630603

A CONSORTIUM vying to buy Hearts and usher in a new era of fan ownership has submitted a takeover bid to majority shareholder Vladimir Romanov, the Evening News can reveal.

The Lithuanian multi-millionaire is understood to be mulling over the deal that would see businessmen and supporters groups spearhead a new fan-led regime at the 
Gorgie club.

Capital insurance chief Alex Mackie, 58, is believed to one of the key figures behind the offer which comes days after Hearts received a £450,000 winding up order for unpaid PAYE and VAT, sparking a huge fundraising drive to stave off the threat of liquidation.

Mr Mackie, right, is listed as a company secretary at three city firms and is understood to have been an outspoken critic at several club AGMs.
He is said to be “fervent” Hearts fan who mixes in social circles with “significant resources”.

A source revealed Mr Mackie is blessed with “a brilliant business brain” and has the “clout” required to push a deal through. They added: “He’s a dyed-in-the-wool Hearts man and he cares passionately about the club.”

Mr Mackie, a company director with Edinburgh Risk Management Ltd since 2003 who lives in North Berwick, declined to comment.

But he belongs to a syndicate called Foundation of Hearts Ltd that was registered with Companies House in late 2010 and is based at Melville Street in the New Town.

[JimBHibees]

They don't have a dedicated Scottish football writer any more. Murray's main job with them now is as their golf writer.

Is that the same Ewan Murray that does Sky sports golf?

[Part/Time Supporter]

Is that the same Ewan Murray that does Sky sports golf?

No, different spelling (Ewan / Ewen).

[Craig_in_Prague]

Looks like one rich fan is trying to save them, from todays Scotsman

http://www.scotsman.com/news/city-businessmen-look-to-takeover-hearts-1-2630603

A CONSORTIUM vying to buy Hearts and usher in a new era of fan ownership has submitted a takeover bid to majority shareholder Vladimir Romanov, the Evening News can reveal.

The Lithuanian multi-millionaire is understood to be mulling over the deal that would see businessmen and supporters groups spearhead a new fan-led regime at the 
Gorgie club.

Capital insurance chief Alex Mackie, 58, is believed to one of the key figures behind the offer which comes days after Hearts received a £450,000 winding up order for unpaid PAYE and VAT, sparking a huge fundraising drive to stave off the threat of liquidation.

Mr Mackie, right, is listed as a company secretary at three city firms and is understood to have been an outspoken critic at several club AGMs.
He is said to be “fervent” Hearts fan who mixes in social circles with “significant resources”.

A source revealed Mr Mackie is blessed with “a brilliant business brain” and has the “clout” required to push a deal through. They added: “He’s a dyed-in-the-wool Hearts man and he cares passionately about the club.”

Mr Mackie, a company director with Edinburgh Risk Management Ltd since 2003 who lives in North Berwick, declined to comment.

But he belongs to a syndicate called Foundation of Hearts Ltd that was registered with Companies House in late 2010 and is based at Melville Street in the New Town.

Lets face it, they'll worm out of this and the hundreds of pages of banter will start to look a tad silly (albeit fun).

[JimBHibees]

No, different spelling (Ewan / Ewen).

Cheers.

[Dr Jimmy]

Cheers.

You can start liking the golf commentator again now ;-)

[YehButNoBut]

Sounds like they are still desperate to get their hand's on the fans cash.

http://www.heartsfc.co.uk/articles/20121113/clubs-advice-for-fans_2241384_2979119

[JimBHibees]

You can start liking the golf commentator again now ;-)

Reason I thought he might be a yam is that he has that smug knowitall attitude most Yams seem to have without any reason at all. :greengrin

[Ozyhibby]

Lets face it, they'll worm out of this and the hundreds of pages of banter will start to look a tad silly (albeit fun).

Any consortium will have to come up with the full amount of cash to pay of the debt as ubig are in no position to take the balance sheet hit of losing Hearts.
Don't panic. They're toast.

[Jim44]

Is that the same Ewan Murray that does Sky sports golf?

No, but for what it's worth, he is a real Jambo.

[Craig_in_Prague]

Any consortium will have to come up with the full amount of cash to pay of the debt as ubig are in no position to take the balance sheet hit of losing Hearts.
Don't panic. They're toast.

hope so mate

want them flushed and gone.

[bingo70]

Lets face it, they'll worm out of this and the hundreds of pages of banter will start to look a tad silly (albeit fun).

They were always going to get a new owner so I don't think this scoop really changes that much does it?

They're still relying on Vlad righting off millions or a new guy paying off millions and I don't get the impression from that article they'll have millions.

Imo if this consortium are successful it'll be on the back of liquidation and forming a new company that starts again in the third division.

[ehf]

I would put it more as an opening of hostilities by this consortium. The article implicitly warns fans against buying shares and drops heavy hints about the evils of Mr Romanov's regime. It insults him then goes on to plead with him to hand over the club debt-free - brilliant.

I notice Save Our Hearts is bigged up in the article and then HoMFC issue this statement - http://www.heartsfc.co.uk/articles/20121113/clubs-advice-for-fans_2241384_2979119.

Coincidence?

"For that reason, we would urged supporters to please think twice before parting with their hard-earned money. We would reiterate that the current Share Offer, the recently set up Donation Line - 0131 200 7280 - and buying tickets for upcoming matches at Tynecastle are the best ways to guarantee that the money handed over will go towards club activities."

That's just not true and they know it's not true. To make such a false and misleading statement in connection with a public offering of shares is a criminal offence under the Financial Services Act.

[Stevie Reid]

So yet again, even after all this, this consortium just expects to not have to deal with their debts?

**** off.

[davym7062]

What a load of wind and pish. How many consortia of local business men are there that apparently support hearts? Whenever I see them they look like a motley assortment of Neanderthal bloaters with Eddie large perms and mullets, Adidas sambas, pie stained hearts tops stretched over beer guts and union jacks draped across their shoulders.
Yet the media would like to have us believe that their fan base is made up of budding Peter jones's.

Windae lickers the lot of them.

8872

post of the day :aok:

[JeMeSouviens]

Anyone who doesn't think Rangers have 'got away' with massive debt and tax avoidance need only visit Ibrox at a home game, visit a small creditors meeting, a ticketus board meeting or speak to HMRC.

So some owner lost his business, so what. Exactly how out of pocket is Whyte? The new company bull**** merely points out how ridiculous administration law is and how corrupt the financial world is. Phoenix companies, what a crock of immoral, cheating pish.

Rangers is dead. That its customers are kidding themselves on they're happy with another business is neither here nor there. Football clubs are admittedly rather unique in the way their customers identify with the business but the new Huns aren't a phoenix* because the ownership is not the same.

*discounting Green'n'Whyte conspiracy theories.

[CropleyWasGod]

Anyone who doesn't think Rangers have 'got away' with massive debt and tax avoidance need only visit Ibrox at a home game, visit a small creditors meeting, a ticketus board meeting or speak to HMRC.

So some owner lost his business, so what. Exactly how out of pocket is Whyte? The new company bull**** merely points out how ridiculous administration law is and how corrupt the financial world is. Phoenix companies, what a crock of immoral, cheating pish.

The £24m that Ticketus are suing him for.

[Sergio sledge]

.. and I don't get the impression from that article they'll have millions.

Didn't you read the article? It says,


He is said to be “fervent” Hearts fan who mixes in social circles with “significant resources”.

A source revealed Mr Mackie is blessed with “a brilliant business brain” and has the “clout” required to push a deal through. They added: “He’s a dyed-in-the-wool Hearts man and he cares passionately about the club.”

I'm convinced, this guy can easily pull together the money needed..... :fibber: No need to worry about Hearts now.... :wink:

It sounds remarkably like the publicity "billionaire" Craig Whyte received with the infamous "off the radar" wealth that he had.... :greengrin

[matty_f]

Are they deid yet?

[HibbySpurs]

Harry Rednapp donated a hundred quid to Hearts. Gary show us your medals phoned him and 'Arry returned his call. So that's the panic over.

I never liked that Harry Redknapp bloke...... :offski:

[clerriehibs]

Rangers is dead. That its customers are kidding themselves on they're happy with another business is neither here nor there. Football clubs are admittedly rather unique in the way their customers identify with the business but the new Huns aren't a phoenix* because the ownership is not the same.

*discounting Green'n'Whyte conspiracy theories.


Great theory tho!

[greenginger]

Looks like one rich fan is trying to save them, from todays Scotsman

http://www.scotsman.com/news/city-businessmen-look-to-takeover-hearts-1-2630603

A CONSORTIUM vying to buy Hearts and usher in a new era of fan ownership has submitted a takeover bid to majority shareholder Vladimir Romanov, the Evening News can reveal.

The Lithuanian multi-millionaire is understood to be mulling over the deal that would see businessmen and supporters groups spearhead a new fan-led regime at the 
Gorgie club.

Capital insurance chief Alex Mackie, 58, is believed to one of the key figures behind the offer which comes days after Hearts received a £450,000 winding up order for unpaid PAYE and VAT, sparking a huge fundraising drive to stave off the threat of liquidation.

Mr Mackie, right, is listed as a company secretary at three city firms and is understood to have been an outspoken critic at several club AGMs.
He is said to be “fervent” Hearts fan who mixes in social circles with “significant resources”.

A source revealed Mr Mackie is blessed with “a brilliant business brain” and has the “clout” required to push a deal through. They added: “He’s a dyed-in-the-wool Hearts man and he cares passionately about the club.”

Mr Mackie, a company director with Edinburgh Risk Management Ltd since 2003 who lives in North Berwick, declined to comment.

But he belongs to a syndicate called Foundation of Hearts Ltd that was registered with Companies House in late 2010 and is based at Melville Street in the New Town.


Edinburgh Risk Management, Oh deary me ! I've insured a couple of development projects with them in the past. They were Ok at what they did but definately small fry.
I have pulled down a copy of their latest accounts from Companies House and see it is a small cap company,shareholders funds - £203,132.00, The company is owned by a holding company which owns 100% of the shares in Edin. Risk and owned by a J M J Barry.

The great saviour, Mr Mackie is just an employee of a tiny little insurance brokers. If he drives a Rover it will be second - hand. :greengrin

[Caversham Green]

Lets face it, they'll worm out of this and the hundreds of pages of banter will start to look a tad silly (albeit fun).

They're still in deep deep doo doo. They might survive this WUP, but they still have to find players' wages, running costs, other tax dues etc and they're still potless. This fund-raising exercise must have nearly exhausted any value they can extract from the fans and this consortium strikes me as lightweight (they've been in talks for two years and got absolutely nowhere).

There's plenty mileage in this thing yet.

[clerriehibs]

Edinburgh Risk Management, Oh deary me ! I've insured a couple of development projects with them in the past. They were Ok at what they did but defiately small fry.
I have pulled down a copy of their latest accounts from Companies House and see it is a small cap company,shareholders funds - £203,132.00, The company is owned by a holding company which owns 100% of the shares in Edin. Risk and owned by a J M J Barry.
I
The great saviour, Mr Mackie is just an employee of a tiny little insurance brokers. If he drives a Rover it will be second - hand. :greengrin

that's a peter pan outfit if ever i saw one!

[jacomo]

Anyone else find it weird that they refer to themselves in the third person?

This has been picked up before, with Fedotovas referring to Hearts as "they" not "we". Looks like the Lithuanian gang are cutting their ties...

Also, I was interested that Fedotovas has been away twice in the past week - and apparently was not in Edinburgh when the panicked statement about the winding up order was released. You'd have thought he'd be at Tynecastle early until late at the moment trying to keep the plates spinning??

[JeMeSouviens]

This has been picked up before, with Fedotovas referring to Hearts as "they" not "we". Looks like the Lithuanian gang are cutting their ties...

Also, I was interested that Fedotovas has been away twice in the past week - and apparently was not in Edinburgh when the panicked statement about the winding up order was released. You'd have thought he'd be at Tynecastle early until late at the moment trying to keep the plates spinning??

Fedotovas is on the board at UBIG and an advisor to the board of UKIO. I imagine he is multinationally plate spinning even as we speak. :wink:

[jacomo]

Edinburgh Risk Management, Oh deary me ! I've insured a couple of development projects with them in the past. They were Ok at what they did but defiately small fry.
I have pulled down a copy of their latest accounts from Companies House and see it is a small cap company,shareholders funds - £203,132.00, The company is owned by a holding company which owns 100% of the shares in Edin. Risk and owned by a J M J Barry.

The great saviour, Mr Mackie is just an employee of a tiny little insurance brokers. If he drives a Rover it will be second - hand. :greengrin

Seriously, what is with Scottish journalists? Have they forgotten how to do any research?

"Hullo, Scotsman sports desk. A new consortium is trying to buy Hearts? Mr Mackie is a big supporter you say? With significant resources? Aye ok, I'll just write that up word for word and submit it. And there was me worrying about how I was going to find 800 words for the website today. Cheers for now!"

[jacomo]

Fedotovas is on the board at UBIG and an advisor to the board of UKIO. I imagine he is multinationally plate spinning even as we speak. :wink:

Indeed. Our man knows more than he lets on.

[Hibees07]

Moira Gordon (live chat, Scotsman) said that so far Hearts had raised about £250K, only 2 days to raise another £200K.

They better get their ovens on & face paints out. :aok:

[JeMeSouviens]

Possible yam scenarios - the Gretna example:

Gretna's owner Brooks Mileson withdrew financial support in the 07/08 season. They failed to pay wages in Feb and HMRC issued a WUP which forced them into administration in March. 23 players were made redundant including 9 first team squad members and the SPL kept them afloat with emergency advances of season end prize money until May. They failed to find a buyer by the administrator's May deadline and the club was liquidated.

Quite like the sound of that. :aok:

[WindyMiller]

Edinburgh Risk Management, Oh deary me ! I've insured a couple of development projects with them in the past. They were Ok at what they did but defiately small fry.
I have pulled down a copy of their latest accounts from Companies House and see it is a small cap company,shareholders funds - £203,132.00, The company is owned by a holding company which owns 100% of the shares in Edin. Risk and owned by a J M J Barry.

The great saviour, Mr Mackie is just an employee of a tiny little insurance brokers. If he drives a Rover it will be second - hand. :greengrin


Have you got the spelling right?

http://en.wikipedia.org/wiki/J._M._Barrie

[green glory]

Moira Gordon (live chat, Scotsman) said that so far Hearts had raised about £250K, only 2 days to raise another £200K.

They better get their ovens on & face paints out. :aok:

**** they'd better draft in Ian Black and get around the doors in Gorgie painting everyone's kids coupon. Use a roller Blackie, time's running out.

[jgl07]

Have you got the spelling right?

http://en.wikipedia.org/wiki/J._M._Barrie

His book did feature a crocodile called 'Tick Tock'!

[JeMeSouviens]

FFS Hibs. :rolleyes:

http://www.heartsfc.co.uk/articles/20121113/scottish-cup-ticket-details_2241384_2979343

Allowing them to sell tickets for the cup game starting tonight. Bugger.

[Part/Time Supporter]

FFS Hibs. :rolleyes:

http://www.heartsfc.co.uk/articles/20121113/scottish-cup-ticket-details_2241384_2979343

Allowing them to sell tickets for the cup game starting tonight. Bugger.

The alternative was to refuse them and then have them leak that information to a friendly journalist, painting Hibs in an awful light ("denying cash-starved Hearts much-needed revenue", blah blah blah).

[1875er]

Moira Gordon (live chat, Scotsman) said that so far Hearts had raised about £250K, only 2 days to raise another £200K.

They better get their ovens on & face paints out. :aok:


:thumbsup::thumbsup::thumbsup::thumbsup::thumbsup: :top marks:top marks:top marks

[PatHead]

Posted this in pm site

My head says they will be wound up as

1 The outlook for them is so weak, raised the majority of any money they can expect by end of December with little more coming until January by which time HMRC debts will be higher than they are now
2 Their history of non payment
3 They have not managed to raise the money due now despite begging their fan base for help. (Can't believe the St Mirren game is not sold out by now. These supporters really don't deserve a club). If they couldn't do it now then they never will.
4 HMRC don't have a history of cutting slack and allowing debts to build up again, next instalment of NI/PAYE must be about due
5 HMRC can see the man behind them is not willing/able to help so why should they
6 The outcry (politically) if they did let them off after Rangers last year
7 The lack of transparency shown by the club
8 HMRC believe they are due at least another £1.75m which they shall never see and would wind them up then
9 HMRC couldn't care if Hearts are a football club, a market stall or a Sauna. Emotion won't come into it, purely a very weak business case put up by Hearts.

My heart says I would like them to scrape through until 3 January and just as they think they have got away with it, padlocks appear on the gates the day before the game.

Anyone care to tell me an alternative.

[blindsummit]

FFS Hibs. :rolleyes:

http://www.heartsfc.co.uk/articles/20121113/scottish-cup-ticket-details_2241384_2979343

Allowing them to sell tickets for the cup game starting tonight. Bugger.

So there has to be a level of risk here to Hibs. For instance if the game doesn't go ahead after all as they get wound up, are Hibs left losing money? What are the risks to us here?

[brog]

How much of the PAYE bill did oldco/newco/Rangers pay?

Rangers were reported as owing £18mm in VAT & PAYE contributions at time of their demise. That's money they collected & didn't pass on to HMRC. If a lottery or pools collector did the same thing they'd be charged with theft. My original point re Yams which I didn't make clear was that if they were always behind with VAT/PAYE payments then why on earth would they have paid interest charges? I suspect interest charges form part of the current outstanding bill & I believe HMRC's overdue hardball attitude to Yams was influenced by the magnitude of Oldco's debt.

[hibs0666]

Moira Gordon (live chat, Scotsman) said that so far Hearts had raised about £250K, only 2 days to raise another £200K.

They better get their ovens on & face paints out. :aok:

Their only hope now is arrses for rent.

[LancashireHibby]

So there has to be a level of risk here to Hibs. For instance if the game doesn't go ahead after all as they get wound up, are Hibs left losing money? What are the risks to us here?
We'd be left as a football creditor, though it will be interesting to see how much of a role the SFA have played in this as well given it's a split gate etc.

[PatHead]

So there has to be a level of risk here to Hibs. For instance if the game doesn't go ahead after all as they get wound up, are Hibs left losing money? What are the risks to us here?

None. As it is a cup tie Hearts are entitled to a share of the gate receipts anyway. We will just deduct it from their share if the game goes ahead.

[hibs0666]

So there has to be a level of risk here to Hibs. For instance if the game doesn't go ahead after all as they get wound up, are Hibs left losing money? What are the risks to us here?

Don't think so seeing as it's a split gate.

[CropleyWasGod]

Rangers were reported as owing £18mm in VAT & PAYE contributions at time of their demise. That's money they collected & didn't pass on to HMRC. If a lottery or pools collector did the same thing they'd be charged with theft. My original point re Yams which I didn't make clear was that if they were always behind with VAT/PAYE payments then why on earth would they have paid interest charges? I suspect interest charges form part of the current outstanding bill & I believe HMRC's overdue hardball attitude to Yams was influenced by the magnitude of Oldco's debt.

They are different scenarios.

In the Rangers case, HMRC knew that they were always going to get Xp in the £. Winding Up Applications are always the last resort by HMRC, and any one of those would have resulted in the same thing ie administration. And that is exactly what happened.

In Hearts case, this is the latest in a number of WUA. HMRC have always got their cash thus far. They also know that, the first time a WUA is granted, that's it and there will be no cash for them.

I can't see that HMRC could have played things differently in either case.

[Part/Time Supporter]

We'd be left as a football creditor, though it will be interesting to see how much of a role the SFA have played in this as well given it's a split gate etc.

Hibs would only be a creditor if the game was played. If they sell tickets and then don't play then the money would be owed to the ticket holder, because he/she wouldn't have got what they paid for (a Scottish Cup match between Hibs and Hearts). Same would also be true if Hibs sold tickets for the home sections and the match didn't happen. Only difference would be that the Hibs fan would have much better chance of getting their money back or something else in return.

[HibeeMG]

So there has to be a level of risk here to Hibs. For instance if the game doesn't go ahead after all as they get wound up, are Hibs left losing money? What are the risks to us here?

If the game doesn't go ahead Hibs lose nothing. It'll be up to Hearts to refund the fans who have bought tickets from them. Good luck with that!

The risk to Hibs is if the game does go ahead. We will be due our very large percentage of their ticket sales. I'm not even 10% confident that we'll see that. Given the undoubted damage that will be done to seats etc. we will be out of pocket.

[LancashireHibby]

Hibs would only be a creditor if the game was played. If they sell tickets and then don't play then the money would be owed to the ticket holder, because he/she wouldn't have got what they paid for (a Scottish Cup match between Hibs and Hearts). Same would also be true if Hibs sold tickets for the home sections and the match didn't happen. Only difference would be that the Hibs fan would have much better chance of getting their money back or something else in return.
Fair point. Although if they go bump then presumably they wouldn't actually be employing anybody to administer the refunds?!

[Part/Time Supporter]

If the game doesn't go ahead Hibs lose nothing. It'll be up to Hearts to refund the fans who have bought tickets from them. Good luck with that!

The risk to Hibs is if the game does go ahead. We will be due our very large percentage of their ticket sales. I'm not even 10% confident that we'll see that. Given the undoubted damage that will be done to seats etc. we will be out of pocket.

That would be easily outweighed by the cash from Sky.

[JeMeSouviens]

The alternative was to refuse them and then have them leak that information to a friendly journalist, painting Hibs in an awful light ("denying cash-starved Hearts much-needed revenue", blah blah blah).

.... and?

[LancashireHibby]

The risk to Hibs is if the game does go ahead. We will be due our very large percentage of their ticket sales. I'm not even 10% confident that we'll see that. Given the undoubted damage that will be done to seats etc. we will be out of pocket.
I'd have thought in basic terms that, assuming a rough 40-40 split after costs are considered, Hertz would effectively need to provide 40% of the crowd before we are out of pocket? I know that sounds a little too simple but given we'd have by far the majority of ticket sales, we'd also control the majority of the cash involved?

[matty_f]

FFS Hibs. :rolleyes:

http://www.heartsfc.co.uk/articles/20121113/scottish-cup-ticket-details_2241384_2979343

Allowing them to sell tickets for the cup game starting tonight. Bugger.

:singing: Saved by the Hibees, oh you were saved by the Hibees...

[HibeeMG]

That would be easily outweighed by the cash from Sky.

That's as may be but we should have the SKY money and the ticket money. If Hearts withhold that because they've included it in a cheque to HMRC then we're out of pocket.

The easiest way to sort it all out would have been to sell the Hearts end tickets ourselves, again.

[Saorsa]

:singing: Saved by the Hibees, oh you were saved by the Hibees...that's nowt tae sing about.

[PatHead]

That's as may be but we should have the SKY money and the ticket money. If Hearts withhold that because they've included it in a cheque to HMRC then we're out of pocket.

The easiest way to sort it all out would have been to sell the Hearts end tickets ourselves, again.

How, Hearts will be entitled to at least the income for the tickets they sell. We will only pay the balance.

[YehButNoBut]

So there has to be a level of risk here to Hibs. For instance if the game doesn't go ahead after all as they get wound up, are Hibs left losing money? What are the risks to us here?

Would have been more of a risk if Hearts were the home team so as others have said we would just deduct from what is due them.

Mind you if it went to a replay that's a different scenario. :rolleyes:

[robinp]

Hibs would only be a creditor if the game was played. If they sell tickets and then don't play then the money would be owed to the ticket holder, because he/she wouldn't have got what they paid for (a Scottish Cup match between Hibs and Hearts). Same would also be true if Hibs sold tickets for the home sections and they don't turn up.

Surely Hibs won't be a creditor at all under any scenario given that Hibs are at home and Hearts will be receiving less than 50% of the tickets?

Even if they go tits up after the game, then we are not due anything from them but infact we would likely be a Debtor due cash to them (after deduction of costs etc) for the split gate?

The New Year derby however is a totally different animal if we have paid up front for the 3,500ish tickets!

[cabbageandribs1875]

imagine if this tie actually saved they grunts from oblivion :grr: infact, just give them the tie :aok::greengrin hopefully they get wound up in time for santa clause coming

[HibeeMG]

I'd have thought in basic terms that, assuming a rough 40-40 split after costs are considered, Hertz would effectively need to provide 40% of the crowd before we are out of pocket? I know that sounds a little too simple but given we'd have by far the majority of ticket sales, we'd also control the majority of the cash involved?

True. I'm forgetting that it's a Scottish Cup game and the gate is split after costs.

We'll just adjust the amount we send them by the tickets they sold (how is this verified btw?) and the cost of damage done. They might end up owing us after all!

[Part/Time Supporter]

.... and?

More practically, Hibs will want the game to go ahead. They get 57.5% of the revenue.

[Ozyhibby]

Cup tie tickets gives them another £87k if they sell them al tomorrow. Still not enough.

[CropleyWasGod]

Cup tie tickets gives them another £87k if they sell them al tomorrow. Still not enough.

Also means that, if the winding-up goes ahead and the Cup-tie doesn't, everybody who has bought a ticket will be a creditor of HMFC :greengrin

[WindyMiller]

We'd be left as a football creditor, though it will be interesting to see how much of a role the SFA have played in this as well given it's a split gate etc.


Will the tickets not be under the control of the SFA for cup-ties?

[LancashireHibby]

We'll just adjust the amount we send them by the tickets they sold (how is this verified btw?) and the cost of damage done. They might end up owing us after all!
The two clubs and the SFA will generally have representatives on matchday to ensure that the ticketing reports/turnstile figures etc stack up - for example if Hearts say they've only sold 1,000 when in reality they've said 3,500 and kept the cash for themselves, it will be pretty easy to spot once they're unable to return their 'unsold' tickets and there are thousands pouring through the turnstiles. Likewise, if they say that 3,000 of their ticket sales are for kids, they will have to prove that by producing the stubs taken from the tickets to prove that they haven't retained the difference in the price of the ticket.

[TrinityHibs]

How does this split work? I've got a couple of ST's with the cup top up. I got the cup top up for nothing because I bought the tickets early. In that I got the tickets for nothing I take it the Hectors will get 40/50% of nothing. I am not particularly happy about giving them anything but 50% of nowt is just about acceptable. Actually for the medals McKays collection I would be happy to give them 100% of nowt.

[LancashireHibby]

Will the tickets not be under the control of the SFA for cup-ties?
Strictly speaking, no. The only reason for the SFA getting involved would be in any dispute between the clubs in terms of pricing, size of allocation etc or, as may be possible in this case, how quickly the clubs can get their tickets on sale - Hibs may have been unwilling for Hearts to start selling tickets before we do, but the Yams may have gone crying to the SFA and they may have ruled in their favour on this occasion. Just an assumption I have based on previous experience.

[big-mo]

http://www.heartsfc.co.uk/articles/20121112/auction-and-raffle-update_2241384_2978642

Their Auction/Raffle tonight looks like a fire sale, selling the shirts off the player's back. Along with the history of the club, they are selling gifts given to the club from visiting clubs from over the years, along with the pictures off the walls. e.g. ‘Mahogany cigar box presented by Standard Liege at the UEFA Cup fixture in Nov '92 (away leg) with engraved matching whisky decanter and glasses’.

All items are up for auction, cash preferred. (I assume that because the proceeds are not going to a charity, they will all be subject to VAT and corporation tax? Or will they just add that onto the outstanding bill?)

[Hibbyradge]

Surely Hibs won't be a creditor at all under any scenario given that Hibs are at home and Hearts will be receiving less than 50% of the tickets?

Even if they go tits up after the game, then we are not due anything from them but infact we would likely be a Debtor due cash to them (after deduction of costs etc) for the split gate?

The New Year derby however is a totally different animal if we have paid up front for the 3,500ish tickets!

All the January derby gate money belongs to Hearts.

[147lothian]

Regarding the consortium, a herz spokes person say's in todays EN that Vlad will speak to anyone genuinely interested in buying them but that person must proof, they can take the club forward. To me this indicates that Vlad doesn't want to sell, but then again who can second guess Vlad?

[Peevemor]

http://www.heartsfc.co.uk/articles/20121112/auction-and-raffle-update_2241384_2978642

Their Auction/Raffle tonight looks like a fire sale, selling the shirts off the player's back. Along with the history of the club, they are selling gifts given to the club from visiting clubs from over the years, along with the pictures off the walls. e.g. ‘Mahogany cigar box presented by Standard Liege at the UEFA Cup fixture in Nov '92 (away leg) with engraved matching whisky decanter and glasses’.

All items are up for auction, cash preferred. (I assume that because the proceeds are not going to a charity, they will all be subject to VAT and corporation tax? Or will they just add that onto the outstanding bill?)

F***in' WOW!

[greenginger]

Edinburgh Risk Management, Oh deary me ! I've insured a couple of development projects with them in the past. They were Ok at what they did but definately small fry.
I have pulled down a copy of their latest accounts from Companies House and see it is a small cap company,shareholders funds - £203,132.00, The company is owned by a holding company which owns 100% of the shares in Edin. Risk and owned by a J M J Barry.

The great saviour, Mr Mackie is just an employee of a tiny little insurance brokers. If he drives a Rover it will be second - hand. :greengrin


Sorry folks, I've been misled. It is not Edinburgh Risk Management Ltd that Alex Mackie, the saviour works with , it is Edinburgh Risk Management ( General ) Ltd that Alex Mackie is director/secretary of. Other director is a Dianne Mackie so it could be a husband and wife outfit.

Nothing else changes, the company is a wholly owned subsidiary of another holding company.
the company carries out insurance broking and had shareholders funds of £184,508 and turnover of £868,403.

Nothing really much different, except he may be able to afford a new Rover ! :greengrin

[The_Sauz]

I can see another Dundee Utd/Servco cup scenario coming up :agree:

[CropleyWasGod]

I can see another Dundee Utd/Servco cup scenario coming up :agree:

Nah... the debtor team are playing away this time. :agree:

[truehibernian]

F***in' WOW!

Deary deary deary me :rolleyes: selling bottles of vodka FFS (which they can't even get the brand name right) - as you say, wow.....just wow !

[Part/Time Supporter]

I can see another Dundee Utd/Servco cup scenario coming up :agree:

Unlikely. That happened because der Hun played games and took ticket monies on behalf of other teams (United and Dunfermline) as normal. In the period between playing the game and the money becoming due for payment (10 days), they went into administration. If the cup game is played it is likely that Hibs would be due to pay Hearts money because there should be more Hibs fans in attendance. If they went into liquidation before then and the game couldn't be played, the creditor would be the ticket holders, not the club(s).

[The_Sauz]

Nah... the debtor team are playing away this time. :agree:

Was that not the case with servco or I'm I thinking of the game that was postponed due to the rain :confused:

[YehButNoBut]

I can see another Dundee Utd/Servco cup scenario coming up :agree:

Only if there is a replay, we'll have to make sure that doesn't happen by cuffing them at ER. :yw:

Assuming it goes ahead that is. :greengrin

[The_Sauz]

Unlikely. That happened because der Hun played games and took ticket monies on behalf of other teams (United and Dunfermline) as normal. In the period between playing the game and the money becoming due for payment (10 days), they went into administration. If the cup game is played it is likely that Hibs would be due to pay Hearts money because there should be more Hibs fans in attendance.

Ok I get the drift........I'll just shut-up then :greengrin

[green glory]

Sorry folks, I've been misled. It is not Edinburgh Risk Management Ltd that Alex Mackie, the saviour works with , it is Edinburgh Risk Management ( General ) Ltd that Alex Mackie is director/secretary of. Other director is a Dianne Mackie so it could be a husband and wife outfit.

Nothing else changes, the company is a wholly owned subsidiary of another holding company.
the company carries out insurance broking and had shareholders funds of £184,508 and turnover of £868,403.

Nothing really much different, except he may be able to afford a new Rover ! :greengrin

I thought all Yams drove Princesses.

[degenerated]

http://www.heartsfc.co.uk/articles/20121112/auction-and-raffle-update_2241384_2978642

Their Auction/Raffle tonight looks like a fire sale, selling the shirts off the player's back. Along with the history of the club, they are selling gifts given to the club from visiting clubs from over the years, along with the pictures off the walls. e.g. ‘Mahogany cigar box presented by Standard Liege at the UEFA Cup fixture in Nov '92 (away leg) with engraved matching whisky decanter and glasses’.

All items are up for auction, cash preferred. (I assume that because the proceeds are not going to a charity, they will all be subject to VAT and corporation tax? Or will they just add that onto the outstanding bill?)

That's some shameful *****. Surprised they aren't trying to sell the Scottish cup as well. If they're resorting to that level of brass necked behaviour it sounds like vlad isn't getting his purse out to bail them out.

[southfieldhibby]

http://www.heartsfc.co.uk/articles/20121112/auction-and-raffle-update_2241384_2978642

Their Auction/Raffle tonight looks like a fire sale, selling the shirts off the player's back. Along with the history of the club, they are selling gifts given to the club from visiting clubs from over the years, along with the pictures off the walls. e.g. ‘Mahogany cigar box presented by Standard Liege at the UEFA Cup fixture in Nov '92 (away leg) with engraved matching whisky decanter and glasses’.

All items are up for auction, cash preferred. (I assume that because the proceeds are not going to a charity, they will all be subject to VAT and corporation tax? Or will they just add that onto the outstanding bill?)

Pray tell, where can I purchase some of this 'Grey Grouse Vodka'? :greengrin

[Mikey]

Pray tell, where can I purchase some of this 'Grey Grouse Vodka'? :greengrin

Tesco. Next to the Famous Goose :greengrin

[Viva_Palmeiras]

Edinburgh Risk Management, Oh deary me ! I've insured a couple of development projects with them in the past. They were Ok at what they did but definately small fry.
I have pulled down a copy of their latest accounts from Companies House and see it is a small cap company,shareholders funds - £203,132.00, The company is owned by a holding company which owns 100% of the shares in Edin. Risk and owned by a J M J Barry.

The great saviour, Mr Mackie is just an employee of a tiny little insurance brokers. If he drives a Rover it will be second - hand. :greengrin

J M J Barry - what the author of Peter Pan - the boy that never grew up ? Poetry in motion :greengrin:flag:

[YehButNoBut]

Threy have added a Chris Hoy signed shirt to the auction, it sounds like they are relying a bit too much on this auction, me thinks.

http://www.heartsfc.co.uk/articles/20121113/olympic-spirit-at-tynecastle_2241384_2979255

[LancashireHibby]

http://domainface.files.wordpress.com/2010/07/fire-sale.jpg

[matty_f]

Threy have added a Chris Hoy signed shirt to the auction, it sounds like they are relying a bit too much on this auction, me thinks.

http://www.heartsfc.co.uk/articles/20121113/olympic-spirit-at-tynecastle_2241384_2979255


Sure they'll do quite well from it, whether there's £100k+ worth of stuff there is another matter.

Bear in mind that a lot of people who could help financially, will have done so over the weekend.


:thumbsup:

[jacomo]

That's some shameful *****. Surprised they aren't trying to sell the Scottish cup as well. If they're resorting to that level of brass necked behaviour it sounds like vlad isn't getting his purse out to bail them out.

Maybe this is what Vlad was waiting for - it is not enough for Hearts to die, it has to be a humiliating death.

I'm waiting for the Official Big Team car boot sale, where the Yammish horde park up their Rovers and try to flog used golf balls and half-worn leisure wear to raise a few more pounds for the cause.

Meanwhile, Paul Hartley and Medals will park their van round the corner to flog some gear for their own fund.

[Hibees07]

Could someone in the Gorgie area not remove the light bulb thus cancelling the Auction on H & S grounds. :greengrin

[SteveHFC]

Harry Redknapp Started by LeeBarclay94 (http://www.hmfckickback.co.uk/index.php?/user/10843-leebarclay94/), Today, 15:26


Posted Today, 15:26
Haven't seen it mentioned anywhere else but it's doing the rounds on Twitter that he's done his bit for HMFC and bought shares.

If this is true it's a fantastic gesture!

:faf:

[Stevie Reid]

Does the fact that tickets are now on sale for the cup tie indicate that Hibs have been given some assurances that Hearts will survive beyond Thursday?

[YehButNoBut]

Could someone in the Gorgie area not remove the light bulb thus cancelling the Auction on H & S grounds. :greengrin

Wonder if they'll have the heating turned on for the auction, could be a bit chilly tonight. :lolyam:

[Mikey]

Does the fact that tickets are now on sale for the cup tie indicate that Hibs have been given some assurances that Hearts will survive beyond Thursday?

I suspect it's more a case of Hearts trying to get extra money in asap.

We sack our DJ and give them tickets to sell. Nice one :rolleyes:

[woody47]

Threy have added a Chris Hoy signed shirt to the auction, it sounds like they are relying a bit too much on this auction, me thinks.

http://www.heartsfc.co.uk/articles/20121113/olympic-spirit-at-tynecastle_2241384_2979255

Most of the raffle stuff on there looks like things they couldn't get rid of on Ebay :)

FFS - Calum (the dancer) Elliot's home kit (signed by players)
Kids home top from 04/05 (signed by 1st team)
Top signed by Darren Jackson 99/00
That's to name but a few lol

As for the auction....reeks of pure desparation - a mahogany cigar box presented by Standard Liege before their UEFA fixture in '92. Maybe this is the only thing left in their 'gifts from other teams played' display cabinet. Or maybe the submariner has already unloaded anything of value or has it sitting in his home lol

Whatever, it will maybe make a couple of thousand but looooong way to go to get their 2.45 million for tax and survival to end of season. :greengrin
:bye:

[brog]

They are different scenarios.

In the Rangers case, HMRC knew that they were always going to get Xp in the £. Winding Up Applications are always the last resort by HMRC, and any one of those would have resulted in the same thing ie administration. And that is exactly what happened.

In Hearts case, this is the latest in a number of WUA. HMRC have always got their cash thus far. They also know that, the first time a WUA is granted, that's it and there will be no cash for them.

I can't see that HMRC could have played things differently in either case.

Wouldn't necessarily argue with this. My original point was Yams have effectively enjoyed an interest free loan for a number of years. I still believe this may be the case, I'm not convinced Yams have always paid off all debts due, as you know it's usually in HMRC's interest to keep entities viable. I think fact Oldco owed such a colossal sum backs that up. £18mm is way more than 1/4 of outstanding VAT/PAYE.

[CropleyWasGod]

Wouldn't necessarily argue with this. My original point was Yams have effectively enjoyed an interest free loan for a number of years. I still believe this may be the case, I'm not convinced Yams have always paid off all debts due, as you know it's usually in HMRC's interest to keep entities viable. I think fact Oldco owed such a colossal sum backs that up. £18mm is way more than 1/4 of outstanding VAT/PAYE.

I don't agree. The interest would have been applied to outstanding debts, and included in every WUA that HMRC have made in the past year or so. Until this latest situation, that would have been paid.

[jacomo]

Most of the raffle stuff on there looks like things they couldn't get rid of on Ebay :)

FFS - Calum (the dancer) Elliot's home kit (signed by players)
Kids home top from 04/05 (signed by 1st team)
Top signed by Darren Jackson 99/00
That's to name but a few lol

As for the auction....reeks of pure desparation - a mahogany cigar box presented by Standard Liege before their UEFA fixture in '92. Maybe this is the only thing left in their 'gifts from other teams played' display cabinet. Or maybe the submariner has already unloaded anything of value or has it sitting in his home lol

Whatever, it will maybe make a couple of thousand but looooong way to go to get their 2.45 million for tax and survival to end of season. :greengrin
:bye:

That's what I was thinking. I'm surprised the Scottish Cup is still in the country and hasn't been smuggled abroad for smelting.

[Twa Cairpets]

Most of the raffle stuff on there looks like things they couldn't get rid of on Ebay :)

FFS - Calum (the dancer) Elliot's home kit (signed by players)
Kids home top from 04/05 (signed by 1st team)
Top signed by Darren Jackson 99/00
That's to name but a few lol

As for the auction....reeks of pure desparation - a mahogany cigar box presented by Standard Liege before their UEFA fixture in '92. Maybe this is the only thing left in their 'gifts from other teams played' display cabinet. Or maybe the submariner has already unloaded anything of value or has it sitting in his home lol

Whatever, it will maybe make a couple of thousand but looooong way to go to get their 2.45 million for tax and survival to end of season. :greengrin
:bye:

What a load of deeply crappy tat.
It's like a car boot sale where the utter keech displayed is tolerated because it's been donated by some special needs kid.
Embarrassing beyond belief.

"Who'll give me a tenner for a soup spoon that might once have been at the same table as Husref Musemic (one of 5,200 produced)".

[Saorsa]

Most of the raffle stuff on there looks like things they couldn't get rid of on Ebay :)

FFS - Calum (the dancer) Elliot's home kit (signed by players)
Kids home top from 04/05 (signed by 1st team)
Top signed by Darren Jackson 99/00
That's to name but a few lol

As for the auction....reeks of pure desparation - a mahogany cigar box presented by Standard Liege before their UEFA fixture in '92. Maybe this is the only thing left in their 'gifts from other teams played' display cabinet. Or maybe the submariner has already unloaded anything of value or has it sitting in his home lol

Whatever, it will maybe make a couple of thousand but looooong way to go to get their 2.45 million for tax and survival to end of season. :greengrin
:bye::hilarious They be better throwing that ***** on a couple of auld pasting tables and calling it a jumble sale

[JimBHibees]

Most of the raffle stuff on there looks like things they couldn't get rid of on Ebay :)

FFS - Calum (the dancer) Elliot's home kit (signed by players)
Kids home top from 04/05 (signed by 1st team)
Top signed by Darren Jackson 99/00
That's to name but a few lol

As for the auction....reeks of pure desparation - a mahogany cigar box presented by Standard Liege before their UEFA fixture in '92. Maybe this is the only thing left in their 'gifts from other teams played' display cabinet. Or maybe the submariner has already unloaded anything of value or has it sitting in his home lol

Whatever, it will maybe make a couple of thousand but looooong way to go to get their 2.45 million for tax and survival to end of season. :greengrin
:bye:

Thats brilliant. :tee hee::tee hee:

[Stevie Reid]

I suspect it's more a case of Hearts trying to get extra money in asap.

We sack our DJ and give them tickets to sell. Nice one :rolleyes:

I thought that fact that we have now announced details of our sale may have meant some private assurances - not that that would have meant much anyway!

[JeMeSouviens]

That's what I was thinking. I'm surprised the Scottish Cup is still in the country and hasn't been smuggled abroad for smelting.

The real cup doesn't leave Hampden. The one they've got is a replica. Still a good weight of silver in it though ...

[CropleyWasGod]

The real cup doesn't leave Hampden. The one they've got is a replica. Still a good weight of silver in it though ...

Meanwhile, round the corner, at the Alt.Hearts firesale.... Gary Mackay is doing his own impression of the replica Cup.

[Hibby Kay-Yay]

Wonder if they'll have the heating turned on for the auction, could be a bit chilly tonight. :lolyam:

It's a fire sale so should be nice and cosy

[Hibercelona]

The real cup doesn't leave Hampden. The one they've got is a replica. Still a good weight of silver in it though ...

Good call by the SFA on that one. :greengrin

[jgl07]

I saw this comment on the BBC site:

"Excellent news if this is even close to being accurate. I still don't see how we are going to be able to service the debt currently outstanding to Romanov's bank though. The best thing for us I guess would be for Mad Vlad's Ukio Bankas to go under, leaving us relatively free from the debts owed to it.

Something tells me it's not going to be that simple though!!"

You couldn't make these up!

[Spike Mandela]

Wonder if they'll have the heating turned on for the auction, could be a bit chilly tonight. :lolyam:

They can huddle around the 100W bulb.

[The Green Goblin]

Jambo Ewan Murray hurting..........

“@mrewanmurray: Any 'supporter' who wishes another club shuts down should be embarrassed. Guys like the Dundee fans show how uplifting football should be.”

The response he go from a sympathetic soul, ha ha................



“@GRSmith82: @mrewanmurray I wouldn't *lose 1 min of sleep if Hearts were obliterated. **** them. I hope its a slow and very painfully extinction.”

Only a yam could deflect and morally condemn somebody who was happy to see them being punished for cheating.

[Spike Mandela]

Only a yam could deflect and morally condemn somebody who was happy to see them being punished for cheating.

Hearts supporters now 'warning' Romanov, you couldn't make it up Ha Ha........

“@gordonchree: Supporters Direct tell STV News the Foundation of Hearts consortium is credible and warn Romanov there is "no white knight" on horizon”

[Gatecrasher]

lets say the get the £450k. Wages are due again on Friday what are they going to do about that?

[WarringtonHibee]

Hearts supporters now 'warning' Romanov, you couldn't make it up Ha Ha........

“@gordonchree: Supporters Direct tell STV News the Foundation of Hearts consortium is credible and warn Romanov there is "no white knight" on horizon”


:tee hee:

[Spike Mandela]

It gets funnier.......

“@mrewanmurray: Foundation offer to buy Hearts rejected. Parties remain in positive dialogue.”

[Mikey]

lets say the get the £450k. Wages are due again on Friday what are they going to do about that?

Wash cars presumably.

[Judas Iscariot]

It gets funnier.......

“@mrewanmurray: Foundation offer to buy Hearts rejected. Parties remain in positive dialogue.”

Didn't think he'd accept 5p.....

[truehibernian]

Only a yam could deflect and morally condemn somebody who was happy to see them being punished for cheating.

Maybe someone should tell Ewan that in business, if you don't pay bills and monies due to contractors, sub contractors and the revenue, then other peoples livelihoods also suffer - sometimes causing extreme financial hardship and job loss. This kind of reaction (the 'football clubs are part of the community thus should be treated differently') is exactly what often prevents others from having sympathy or empathy towwards a cause - especially those with no interest in football. I'm told there are many many debts still to be paid and yet to be announced - maybe Ewan should do some digging and he'd find out to who :wink:

Did Ewan fight the good fight for Woolworths, Comet, MFI and JJB ? They have been in the community for years, they employ hundreds (or thousands), they each had 'history'.

People in this country are far too quick to point the finger of blame at those who really have had no responsibility for the problem they find themselves in - like a parent being told his son is a bully, only for the parent to blame the victime/school/police or anyone else that listens rather than deal with the matter in hand - his son being a bully.

Hearts fans loved the success but seemed to put to the side that it was always on the never never - they have had 7 years to confront, take on, challenge Romanov - or at the very least really scrutinise his ways - even Mr Murray could have reverted back to being a good old fashioned journalist, so lacking in the sports pages in Scotland these days, and taken it upon himself to investigate fully UBIG, Romanov and the way forward for Hearts.

Instead - they've waited for the inevitable to happen and now expect sympathy. I've reiterated a few times, I want Hearts to survive due to the fact I love the derby games, the banter and I've good mates that follow that side of town - but they get zero sympathy from me and karma is indeed a bitch as they say - you do indeed reap what you sew.

[WindyMiller]

Vlad turns down the offer.


:aok::aok:

[Golden Bear]

Looks like Mad Vlad has thrown out the derisory offer made by " the consortium."

More to follow according to Radio Scotland.

[WindyMiller]

It gets funnier.......

“@mrewanmurray: Foundation offer to buy Hearts rejected. Parties remain in positive dialogue.”


No they don't.
Say the BBC.

[Viva_Palmeiras]

I suspect it's more a case of Hearts trying to get extra money in asap.

We sack our DJ and give them tickets to sell. Nice one :rolleyes:

Maintaining sensitive ecosystem -a rich tapestry of interwoven fabric that is Edinburgh football - a bit tatty and loose at the seams. But Emily loves it ;)

[Golden Bear]

No they don't.
Say the BBC.

The Beeb indicated that this excellent news only broke in the last 5 minutes.

Let the blood letting commence!!

:greengrin

[Viva_Palmeiras]

No they don't.
Say the BBC.

Panto season's begun ;)

[Danderhall Hibs]

lets say the get the £450k. Wages are due again on Friday what are they going to do about that?

Dress down day Friday. Always pulls in a large charity donation

[Mikey]

It gets funnier.......

“@mrewanmurray: Foundation offer to buy Hearts rejected. Parties remain in positive dialogue.”


No they don't.
Say the BBC.

Assuming the offer from the consortium involved no more than Vlad handing over the club and the ground debt free it's no wonder they're not talking.

[WindyMiller]

The proposal has no consideration of cash for the shares of the club, even if the debt is removed completely and demonstrates a staggering misjudgement of the value of the club and a worrying lack of understanding of the situation. At best it is opportunistic, an attempt to exploit what is a difficult financial situation at the club.No evidence was provided on how the club would be operated and resourced after any potential purchase.The Board has declined the proposal based on the above and further considerations.While the club remains open to genuine offers it will continue to operate with the support of its fan base who are rallying round the current Share Issue and a host of other fundraising events.




:cb

[CropleyWasGod]

The proposal has no consideration of cash for the shares of the club, even if the debt is removed completely and demonstrates a staggering misjudgement of the value of the club and a worrying lack of understanding of the situation. At best it is opportunistic, an attempt to exploit what is a difficult financial situation at the club.No evidence was provided on how the club would be operated and resourced after any potential purchase.The Board has declined the proposal based on the above and further considerations.While the club remains open to genuine offers it will continue to operate with the support of its fan base who are rallying round the current Share Issue and a host of other fundraising events.




:cb

So they offered a penny, when clearly it's worth 100 times as much?

[PatHead]

Its okay the ******s at JKB have now donated £16,500 so that will be it saved by the time they sell Callum Elliott's shirt. (Imagine getting that as a Christmas present.

S****** http://www.youtube.com/watch?v=6ZZZMPxFE_o

On a seperate note. At what time will the HMRC stay open until to hear Hearts proposals on repaying the debt? I assume they all go home at 5pm and if so Hearts have less than 24 hours in which to save themselves. Tick tock went the clock.

[matty_f]

The proposal has no consideration of cash for the shares of the club, even if the debt is removed completely and demonstrates a staggering misjudgement of the value of the club and a worrying lack of understanding of the situation. At best it is opportunistic, an attempt to exploit what is a difficult financial situation at the club.No evidence was provided on how the club would be operated and resourced after any potential purchase.The Board has declined the proposal based on the above and further considerations.While the club remains open to genuine offers it will continue to operate with the support of its fan base who are rallying round the current Share Issue and a host of other fundraising events.




:cb

Silly Jambos! :greengrin

[matty_f]

The proposal has no consideration of cash for the shares of the club, even if the debt is removed completely and demonstrates a staggering misjudgement of the value of the club and a worrying lack of understanding of the situation. At best it is opportunistic, an attempt to exploit what is a difficult financial situation at the club.No evidence was provided on how the club would be operated and resourced after any potential purchase.The Board has declined the proposal based on the above and further considerations.While the club remains open to genuine offers it will continue to operate with the support of its fan base who are rallying round the current Share Issue and a host of other fundraising events.




:cb


So they offered a penny, when clearly it's worth 100 times as much?

I told you the debt for equity thing would play a part in the offers!! :wink:

[Golden Bear]

Assuming the offer from the consortium involved no more than Vlad handing over the club and the ground debt free it's no wonder they're not talking.

I only caught the tale end of the announcement but the jist of it was that the consortium did not seem to recognise the seriousness of the Club's position ---------- and I think that came from Vlad's side.

I can honestly see the Mad yin taking the huff over the fighting fund that the ex-players set up so who knows what he'll get up to next?

[WindyMiller]

Maybe Vlad's statue should be placed at the entrance to the East Stand.




http://www.americanthinker.com/Lenin%20statue%20St%20Pete.jpg




:flag:

[Mikey]

I only caught the tale end of the announcement but the jist of it was that the consortium did not seem to recognise the seriousness of the Club's position ---------- and I think that came from Vlad's side.

I can honestly see the Mad yin taking the huff over the fighting fund that the ex-players set up so who knows what he'll get up to next?

If he wants to maximise his income from where things are right now, the logical thing is to do nothing.

[PatHead]

Looks like the Jambos are going to accept their fate. A poll shows 90% of them will support a newco. But now that they have given all their money to the big, bad Vlad how will they fund it?

[Ozyhibby]

Can anyone clarify the exact deadline they have to pay HMRC by?

[CropleyWasGod]

If he wants to maximise his income from where things are right now, the logical thing is to do nothing.

... and that, I would suggest, is what the smarter "investors" should be doing as well.

Unfortunately, it's the creditors that will lose out in that stand-off.

[brog]

I don't agree. The interest would have been applied to outstanding debts, and included in every WUA that HMRC have made in the past year or so. Until this latest situation, that would have been paid.

Any thoughts on how Oldco got to £18mm then? Genuine question.

[cwilliamson85]

Has it been listed anywhere who is in the Hearts consortium?

Business men? Ex players? Rich fans?

[Onceinawhile]

According to the bbc, the bid has been rejected.

[PatHead]

Can anyone clarify the exact deadline they have to pay HMRC by?

Presumably they have right up to the court case unless they reach an agreement first. At that stage HMRC will withdraw the request. But I hope that the case is heard at 9.00am on the dot and they don't get a chance.

[CropleyWasGod]

Any thoughts on how Oldco got to £18mm then? Genuine question.

In the first place, agreements were made for payments by instalment; that is normal, and interest would have been taken into account when setting that.

RFC missed those instalments, therefore HMRC had to make a decision. Having been in discussions with RFC, they probably knew how bad things were. They also probably thought, as we all did at the time, that Craig Whyte had first dibs on Ibrox etc. They therefore "knew" that, the minute they took RFC to Court, that would be the end of things and that they would get diddley squat.

And that is what happened, although they probably will end up getting a bit more than they expected. Indeed, by not pushing them sooner, they squeezed a little more VAT out of them.

It's always a difficult call for HMRC to make. I have often had the "you can't get blood out of a stone" conversation with them. They have to walk the line between commercial reality and legality, and that's not easy.

[Golden Bear]

Has it been listed anywhere who is in the Hearts consortium?

Business men? Ex players? Rich fans?

Ex- player Donald Ford is involved and some businessman by the name of Alex Mackie

[Arch Stanton]

The proposal has no consideration of cash for the shares of the club, even if the debt is removed completely and demonstrates a staggering misjudgement of the value of the club and a worrying lack of understanding of the situation. At best it is opportunistic, an attempt to exploit what is a difficult financial situation at the club.No evidence was provided on how the club would be operated and resourced after any potential purchase.The Board has declined the proposal based on the above and further considerations.While the club remains open to genuine offers it will continue to operate with the support of its fan base who are rallying round the current Share Issue and a host of other fundraising events.
:cb

I don't suppose you can blame the consortium for wanting something for nothing I guess - I remember similar offers to Robinson when he had his troubles.

It may be more of a positioning exercise in the event of the club going to the wall (vultures circling kind of thing) - establishing a presence (and fan support) at this stage ma be a good move.

Edit: I guess that's what it meant by it being opportunistic!

[CyberSauzee]

http://www.heartsfc.co.uk/articles/20121113/club-opens-talks-with-supporters-direct_2241384_2979600?



The club can also confirm that it has received a 'note of interest' from businessman Alex Mackie on behalf of a consortium of unnamed business people.

The proposal has no consideration of cash for the shares of the club, even if the debt is removed completely and demonstrates a staggering misjudgement of the value of the club and a worrying lack of understanding of the situation. At best it is opportunistic, an attempt to exploit what is a difficult financial situation at the club.

No evidence was provided on how the club would be operated and resourced after any potential purchase.

The Board has declined the proposal based on the above and further considerations.

While the club remains open to genuine offers it will continue to operate with the support of its fan base who are rallying round the current Share Issue and a host of other fundraising events.

Thanks Vlad - role on Thursday!

[Kaff]

Any thoughts on how Oldco got to £18mm then? Genuine question.

Might be wrong but i think minty moonbeams always kept the PAYE/VAT paid up to date and it was only when Whyte took over that these payments were withheld. Assuming Rangers had 10 times the turnover and therefore 10 times the PAYE/VAT it wouldnt take long for the figure to escalate upwards and, as previous good payers, the HMRC would have been slower in the uptake to deal them. Don't forget Hearts had previously been chased for figures in the £M's but HMRC will no longer cut them any slack as they have been consistently bad payers for a number of years.

Just my take on it

[YehButNoBut]

http://www.heartsfc.co.uk/articles/20121113/club-opens-talks-with-supporters-direct_2241384_2979600?

The club can also confirm that it has received a 'note of interest' from businessman Alex Mackie on behalf of a consortium of unnamed business people.

The proposal has no consideration of cash for the shares of the club, even if the debt is removed completely and demonstrates a staggering misjudgement of the value of the club and a worrying lack of understanding of the situation. At best it is opportunistic, an attempt to exploit what is a difficult financial situation at the club.

No evidence was provided on how the club would be operated and resourced after any potential purchase.

The Board has declined the proposal based on the above and further considerations.

While the club remains open to genuine offers it will continue to operate with the support of its fan base who are rallying round the current Share Issue and a host of other fundraising events.


Thanks Vlad - role on Thursday!

Good to see Vlad's still playing hardball with them, looks like either Vlad will bail them out or their goosed.

Unless the auction goes spectacularly well tonight. :greengrin