Share Transfers Agreed/Cooling off period

[Diclonius]

Be good to just how much skacel lords it up when gary deegan goes right through the f*****r.

The amount of times we've said "[insert player here] is going to do Skacel, he's pish" is overwhelming and has come back to bite us on the arse too often. I want him to stay as far away from Tynecastle as possible. The weaker they are, the more likely we'll be able to beat them. I've seen that **** do his stupid little "L" gesture too many times now.

[truehibernian]

The amount of times we've said "[insert player here] is going to do Skacel, he's pish" is overwhelming and has come back to bite us on the arse too often. I want him to stay as far away from Tynecastle as possible. The weaker they are, the more likely we'll be able to beat them. I've seen that **** do his stupid little "L" gesture too many times now.

Skacel himself is now in a tricky position - the best he was going to get from Hearts was a contract until end of the season with no doubt some kind of bonus structure to bulk it up. His next contract will be his last big one, so for me it was always a shop window contract.

I'm not sure that he uses an agent, I seem to recall him using a legal rep - either way if a club came in now offering him a year or two year deal he'd surely have to take it. He's then in that favourable position amongst the Hertz fans and can say 'sorry jambos I was going to sign but rules prevented it' - win for the player, win for Vlad (he blames SFA, mafia, etc), Hearts still see him as a martyr to their wee cause.

Or Hibs could offer him a deal of course just out of devilment :-)

[grunt]

I'm not sure that he uses an agent, I seem to recall him using a legal rep...I thought he was sued by his agent. Maybe he found another one.

[Sir David Gray]

The amount of times we've said "[insert player here] is going to do Skacel, he's pish" is overwhelming and has come back to bite us on the arse too often. I want him to stay as far away from Tynecastle as possible. The weaker they are, the more likely we'll be able to beat them. I've seen that **** do his stupid little "L" gesture too many times now.

That's because, for the majority of his time at Hearts, we have had a team full of gutless losers that wouldn't know what pride was if it came up and smacked them in the face.

Things are changing in that department this season and we at least have a team that is competitive and willing to show some fight and determination.

If he does sign for them in time for the next derby in January, I fully expect Gary Deegan to wish him a happy new year in his own special way. :aok:

I'd rather he didn't sign for them again but if he does then bring him on. :giruy:

[SloopJB]

Cos they have done it time and again. They failed to pay players last seasom, they then signed beattie and he kicked them to the scottish cup final.

Everytime they field a player who hasnt been paid that month they should forfeit that game. Its akin to us signing messi, promising him 5million a game then when we cant pay him still reaping the rewards. Obviously an extreme example but its cheating.

Hammer them. Like they should EVERY club who mismanages finances.

Big difference.

Hearts were LATE in paying their players during a peroid where there wern't rules broken.
Bottom line is they were paid.
This time they have breached rules and have been penalised accordingly.

[Just_Jimmy]

Big difference.

Hearts were LATE in paying their players during a peroid where there wern't rules broken.
Bottom line is they were paid.
This time they have breached rules and have been penalised accordingly.

Yes but then my complaint isnt really with hearts, cant blame cheating if you can get away with it. I blame the clowns at the SPL who time and again have failed to act when member clubs have soiled the game. First the huns and alongside that hearts.

They missed 2 (i think maybe 1) payment and inbetween that and paying they signed beattie. There is no way any club should be getting away with that pish.

Lets sign messi and no pay him. At least well have 6 months of his winning us matches before we get "punished".

[SteveHFC]

A positive for hearts is John McGlynns not been caught up in the Jimmy Saville enquiries yet.

[lord bunberry]

A positive for hearts is John McGlynns not been caught up in the Jimmy Saville enquiries yet.

Its a matter of time mate

[Cabbage East]

A positive for hearts is John McGlynns not been caught up in the Jimmy Saville enquiries yet.

Yet.

[jodjam]

That's because, for the majority of his time at Hearts, we have had a team full of gutless losers that wouldn't know what pride was if it came up and smacked them in the face.

Things are changing in that department this season and we at least have a team that is competitive and willing to show some fight and determination.

If he does sign for them in time for the next derby in January, I fully expect Gary Deegan to wish him a happy new year in his own special way. :aok:

I'd rather he didn't sign for them again but if he does then bring him on. :giruy:

If he does sign he is no spring chicken. Will take him a few weeks to get match sharp and the 3rd would probably be too early for him. I'm not gonna spend the next two months worrying about that clown of a man.

[Hibbyradge]

If he does sign he is no spring chicken. Will take him a few weeks to get match sharp and the 3rd would probably be too early for him. I'm not gonna spend the next two months worrying about that clown of a man.

Spot on.

He won't have played any type of competitive football at all for 8 months.

His lack match fitness and sharpness means the poor chap will be at risk of getting hurt.

[Hibbyradge]

But they're already prevented from signing anyone unless they were a free agent two months ago - which effectively is anyone that would be of much use to them before the 23 December. Another club defaulting in December would be prevented from signing anyone during the January window - a much more severe penalty despite only having defaulted once. Justice has to be seen to be done and HoMFC are not seen to have suffered anything at all with this sanction. A suspended points deduction would put them on notice for the future and would also be a visible penalty - that's particularly important in a competitive environment like a football league. If they choose to add to their financial obligations under that notice then they must suffer the consequences if they can't meet those obligations - that should be HoMFC's concern, not the SPL's.

My point about the speeding fine was that the motorist suffers a real, immediate punishment as well as the three points for future consideration, I'm not arguing for a fine in the case of HoMFC because I think it would be counter-productive.

HoMFC have broken the rules twice in succession and have suffered no tangible punishment for it - if they do it again in January/February they might get a signing embargo until June, that must worry them.


Your point about missing a payment in December is an interesting one, but I would hope the SPL would ensure that the effect of their sanctions were consistent and they wouldn't impose an embargo for a first offence in January.

I think Doncaster's quote below gives reassurance that a first offence committed in December wouldn't lead to a highly punitive January embargo.


“I think there is a meaningful sanction there,” Doncaster said. “This is a second offence. The first offence, we believe, warranted a warning and a reprimand. We think a 60-day registration embargo is the appropriate sanction and we hope very much that we won’t be here again. we didn’t receive any guarantees that there wouldn’t be a repeat. Ultimately we can only judge any breach of the rules as and when it arises – look at the circumstances, hear what the club has to say, and then form a view.

“We considered a whole range of different possibilities. We felt a sporting penalty was required because of the sporting advantage that had been obtained by Hearts by not having to pay players and coaches on time, and [B]the appropriate sporting penalty we believed was a player registration embargo for 60 days.”


That also suggests that there was no embargo in place until this month. :confused:

You will note, of course, that Hearts have given no guarantees about future breaches.

[The Green Goblin]

Someone who actually pays heed to what Neil Doncaster says, that's a first:wink:

No fixed tariff is a fudged cop out.

What is it with everyone today. Hearts appear to have been trading insolvently for several months now, Vlad has regularly aimed abuse at the authorities, 7-8 months out of the last 12 months Hearts wages have been paid late and now everyone is wanting them to go easy on Hearts. I don't get it.

My guess (and that's all it is) would be that with the fall of Sevco, the authorities are afraid that the rest of the dominoes will start toppling and they see this as a situation where they have to try and avoid "helping" that to happen.

[truehibernian]

My guess (and that's all it is) would be that with the fall of Sevco, the authorities are afraid that the rest of the dominoes will start toppling and they see this as a situation where they have to try and avoid "helping" that to happen.

I'm not so sure to be honest. Of course they will be mindful of the shambolic way they handled the Rangers situation and they definitely won't want similar media fallout if Hearts continue to default - however the cynic in me sees this as the perfect agenda for Doncaster and Regan to stimulate their SPL2 idea - what better way to promote two divisions by having (potentially) two top sides in The Rangers and The Hearts in the second tier fighting it out :-)

They'll try to be fair and proportionate but I wouldn't guarantee they will continue in this vain. After all their SFL counterparts are quite swift and brutal when it comes to meating out points deductions for defaulting sides.

[#FromTheCapital]

Barry Anderson has tweeted to say that hearts will be handing out brochures to all fans attending the ross county game which will outline a plan to get more cash for the club.

I managed to get a sneak preview of the front cover.....


http://www.bigissue.com/sites/bigissue/files/styles/bigissue_main_half/public/the_big_issue_no_1023.jpg (http://www.hibs.net/latest-issue)

[Part/Time Supporter]

Barry Anderson has tweeted to say that hearts will be handing out brochures to all fans attending the ross county game which will outline a plan to get more cash for the club.


All of the 400,000 are to take out Wonga loans for Christmas. Wonga will then pass on 10% of their profits.

:agree:

[green glory]

All of the 400,000 are to take out Wonga loans for Christmas. Wonga will then pass on 10% of their profits.

:agree:

Things looking increasingly desperate for Maroonsevco.

[flash]

Barry Anderson has tweeted to say that hearts will be handing out brochures to all fans attending the ross county game which will outline a plan to get more cash for the club.

I managed to get a sneak preview of the front cover.....


http://www.bigissue.com/sites/bigissue/files/styles/bigissue_main_half/public/the_big_issue_no_1023.jpg (http://www.hibs.net/latest-issue)

So Hertz, with their multi millionaire owner, are going cap in hand to the ordinary punters in the middle of the worst recession in a century.

[#FromTheCapital]

So Hertz, with their multi millionaire owner, are going cap in hand to the ordinary punters in the middle of the worst recession in a century.


Looks like their plan will be unveiled in this brochure at the weekend. Wonder where they're getting the money to print these brochures

[Gatecrasher]

Theres something in the EEN asking their fans for £1m :faf:

I only seen the headline though

[lord bunberry]

Theres something in the EEN asking their fans for £1m :faf:

I only seen the headline though

That's only £2.50 each a small price to pay to save your club

[Hibbyradge]

http://www.scotsman.com/edinburgh-evening-news/football/hearts/hearts-supporters-invited-to-play-role-in-club-s-future-1-2597886

[poolman]

Theres something in the EEN asking their fans for £1m :faf:

I only seen the headline though


Is it something to do with this


http://www.dailyrecord.co.uk/sport/football/football-news/hearts-close-to-securing-cash-generating-1398243

EDit : Cap in hand

http://www.scotsman.com/edinburgh-evening-news/football/hearts/hearts-supporters-invited-to-play-role-in-club-s-future-1-2597886

[poolman]

http://i49.tinypic.com/rvvhxx.jpg

[O'Rourke3]

So a whip round?

[Bighoose]

Going by their history, they will just be copying our "buy a brick" option. Prob charging £100 a time....

[Peevemor]

Going by their history, they will just be copying our "buy a brick" option. Prob charging £100 a time....

Yeah but with them you get to take it home. :greengrin

[Mikey]

Any Yam that puts money into the club while Romanov is still the owner needs their head checked.

[Seveno]

Any Yam that puts money into the club while Romanov is still the owner needs their head checked.

If all the Yams that need their heads checked put money into the club then they will do rather nicely !

[matty_f]

It's a patch-up job at best. Even if they raise £1m, that won't last long at all and then what?

[#FromTheCapital]

Any Yam that puts money into the club while Romanov is still the owner needs their head checked.

:agree: Exactly. No way any sensible person would give that 2 bit crook any money whatsoever, although they jambos aren't the most sensible bunch. Whos to say where it will end up, especially if theres other parts of his empire that also need funding

[HibbySpurs]

These "terrified of Skacel" posts on this thread are really beggining to annoy me.... He's one effing man and yes he's been a thorn in our side for so long but this is what's wrong with the Hibs mentality at times.... Your all petrified of one player and it seeps through to the whole club, get over it FFS guys. Has beens have been but that's all he is now. We are a much better team now and players like Deegan will be able to cope with this clown far better than others have in recent times....

Stop living in fear of the fuds from across the city and effing believe that we will effing gub them on the 3rd with or without Skacel......

This fear of Hearts & certain Hearts players has got to stop if we as a club are to establish ourselves as the dominant force in Edinburgh football once more. It begins with us in believing that our manager and the team he puts on the park are better than those ****bags, thats what they believe even when they know their team is worse.

Rant Over..... I think the punishment fits the crime by the way, they'll miss more payments and the punishments will be harsher and harsher.

[matty_f]

These "terrified of Skacel" posts on this thread are really beggining to annoy me.... He's one effing man and yes he's been a thorn in our side for so long but this is what's wrong with the Hibs mentality at times.... Your all petrified of one player and it seeps through to the whole club, get over it FFS guys. Has beens have been but that's all he is now. We are a much better team now and players like Deegan will be able to cope with this clown far better than others have in recent times....

Stop living in fear of the fuds from across the city and effing believe that we will effing gub them on the 3rd with or without Skacel......

This fear of Hearts & certain Hearts players has got to stop if we as a club are to establish ourselves as the dominant force in Edinburgh football once more. It begins with us in believing that our manager and the team he puts on the park are better than those ****bags, thats what they believe even when they know their team is worse.

Rant Over..... I think the punishment fits the crime by the way, they'll miss more payments and the punishments will be harsher and harsher.

:top marks:

[RyeSloan]

Personally I don't see how a transfer embargo during the period where the transfer window is shut is any sort of 'sporting penalty'....excluding satchel who they could have signed in the summer but didn't what penalty are Hearts suffering due to this 'embargo'? None.

The punishment should surely have included an incentive not to do it again...I simply don't see that.

That said it's clear now that Hearts are on the home stretch of the Romanov adventure, when it comes down to begging fans to finance a continuing shortfall in finances then the writing is truely on the wall. The prospect of them raising an extra £1m from c12k supporters is fanciful to say the least...look at the huge success of the Hearts fighting fund or whatever it was called the last time they were pitching tents shows that even in times of crisis raising that sort of money is extremely difficult.

I take no joy from their troubles (aye right!) but will merely state that what goes around comes around and Hearts have been asking for it for a long long time...all things being equal that should mean that when the sheeeit does hit the fan it will do so in a spectacular and unstopable way.

[poolman]

They hope to go public in the next few days on a “significant revenue generating exercise” that could be worth “seven figures” annually. Sources claim the success of the scheme will be crucial to the direction the club takes in forthcoming seasons.


ANNUALLY :not worth

So they're hoping the deluded pink ones are gonna stump up that amount each year to keep them going :faf:

[God Petrie]

Hahahahaha they only need £2.50 from each fan.

This can't really be described as anything other than begging no matter how Barry Anderson and Hertz try to spin it. What an absolute shambles of a club.

[green glory]

I don't know why all proceeds from poppy sales aren't automatically given to HOMFC. After all they did win every conflict from the Peloponesian War to the recent Libyan conflict without even making a substitution. The mere spectre of Gary Mackay with his fearsome haul of medals turning his playing prowess against the Soviet Union was enough to prevent the Cold War becoming hot.

It's time this nation expressed it's gratitude.

[macca70]

The situation must be serious if the mad man is coming over for a game against Ross County.

I would expect a few rants in the media whilst he's here. Probably stating how the SFA are chasing him out of Scotland.

How can they possibly be trying to resign Skatcel at a time when they are completely skint and now begging to the fans for cash. How much did they raise from 'Save our Hearts'? About £200k max

After the rangers debacle I thought the SFA/SPL were going to be clamping down on the blatant overspending and complete irresponsible way in which clubs were run.

Guaranteed, when they are playing in Div 3 against Sevco, everyone will be asking why was nothing done by the authorities earlier to stop them being run so irresponsibly

[Saorsa]

http://www.scotsman.com/edinburgh-evening-news/football/hearts/hearts-supporters-invited-to-play-role-in-club-s-future-1-2597886:faf:

I wonder if any of these plums will donate


http://www.youtube.com/watch?v=djIZyGPZ4rM

[Viva_Palmeiras]

Yams will be helpIng to shelter from economic difficulties by all 400k standing in a line and handing £1 coins along a chain into the players wages fund ;)

http://m.scotsman.com/sport/football/spl/hearts-supporters-invited-to-play-role-in-club-s-future-1-2597886

[CallumLaidlaw]

And let me guess, fans will have the opportunity to "invest" before the next wages due date!

[Hibee Ryan]

11p a share hahahaha

[degenerated]

This reeks of something they've made up on the hoof and have 2 days now to make some nonsense up and photocopy something to hand out to the morons on Saturday. I bet it will be written in crayon.

[Hibbyradge]

BBCBMcLauchlin ‏@BBCBMcLauchlin
Hearts owner Vladimir Romanov is offering fans an opportunity to buy back some of his shares in the club. #bbcsportsound

[Hibbyradge]

BBCBMcLauchlin ‏@BBCBMcLauchlin
Hearts owner Vladimir Romanov is offering fans an opportunity to buy back some of his shares in the club. #bbcsportsound

[Mikey]

BBCBMcLauchlin ‏@BBCBMcLauchlin
Hearts owner Vladimir Romanov is offering fans an opportunity to buy back some of his shares in the club. #bbcsportsound

Nice way of putting it :greengrin

[Diclonius]

These "terrified of Skacel" posts on this thread are really beggining to annoy me.... He's one effing man and yes he's been a thorn in our side for so long but this is what's wrong with the Hibs mentality at times.... Your all petrified of one player and it seeps through to the whole club, get over it FFS guys. Has beens have been but that's all he is now. We are a much better team now and players like Deegan will be able to cope with this clown far better than others have in recent times....

Stop living in fear of the fuds from across the city and effing believe that we will effing gub them on the 3rd with or without Skacel......

This fear of Hearts & certain Hearts players has got to stop if we as a club are to establish ourselves as the dominant force in Edinburgh football once more. It begins with us in believing that our manager and the team he puts on the park are better than those ****bags, thats what they believe even when they know their team is worse.

Rant Over..... I think the punishment fits the crime by the way, they'll miss more payments and the punishments will be harsher and harsher.

I don't think it's just about belief. It's about hating them as much as - if not more than - they hate us, and making sure that every member of our club, from boardroom right down to the youth players puts beating them as our number one priority for the season. And I mean that. I would take winning every game against Hearts even if it meant finishing second bottom. Once we've shown just how important this game is to our staff, then we'll have total belief in our ability to do it.

Then it'll be a level playing field.

[Twa Cairpets]

BBCBMcLauchlin ‏@BBCBMcLauchlin
Hearts owner Vladimir Romanov is offering fans an opportunity to buy back some of his shares in the club. #bbcsportsound

Gotta admire the Vladster. Sell worthless shares in a bankrupt company, pocket the dosh and bugger off leaving the nothing but the sounds of crying orcs howling in a bewildered fashion at the moon.

[sidjames]

BBCBMcLauchlin ‏@BBCBMcLauchlin
Hearts owner Vladimir Romanov is offering fans an opportunity to buy back some of his shares in the club. #bbcsportsound

Excellent way of selling them back the debt they owe to themselves. Everyones a winner:applause:

[Craig_in_Prague]

http://www.scotsman.com/edinburgh-evening-news/football/hearts/hearts-supporters-invited-to-play-role-in-club-s-future-1-2597886

ROFLMAO

Any spare change mister.

tickety tock

[Hibee87]

I don't think it's just about belief. It's about hating them as much as - if not more than - they hate us, and making sure that every member of our club, from boardroom right down to the youth players puts beating them as our number one priority for the season. And I mean that. I would take winning every game against Hearts even if it meant finishing second bottom. Once we've shown just how important this game is to our staff, then we'll have total belief in our ability to do it.

Then it'll be a level playing field.

I support hibs, and want hibs to win every game but if we were to be beaten in every single derby every season but still won the league i wouldnt care less. I want hibs to win Every game and if we were relegated or finsihed second bottom but beat hearts 3 times what difference would that make?

I love beating hearts as much as every other hibby, same the other way round with them beating us but at the end of the day winning cups, leagues and getting into europe is what hibs play for. beating hearts along the way is just an added bonus.

[Hibercelona]

http://oi50.tinypic.com/2yozqk5.jpg

[poolman]

http://www.heartsfc.co.uk/articles/20121025/hearts-to-launch-share-offer_2241384_2959577



More laughs in there than a Tom Sharpe novel :greengrin

[#FromTheCapital]

:faf:

I wonder if any of these plums will donate


http://www.youtube.com/watch?v=djIZyGPZ4rM


:top marks:faf: That clip is ****in hilarious. Anyone got the clip of the 2 hearts fans fighting outside tynie??

[Mikey]

http://www.heartsfc.co.uk/articles/20121025/hearts-to-launch-share-offer_2241384_2959577



More laughs in there than a Tom Sharpe novel :greengrin

So 10% of the club is worth £1.79m.

Aye, ok then!!

[Part/Time Supporter]

So 10% of the club is worth £1.79m.

Aye, ok then!!

That's just 10% of the share capital. You have to add on the debt to give the enterprise value. He's valuing Hearts at ~£50M.

:tee hee:

http://en.wikipedia.org/wiki/Enterprise_value

[Peevemor]

So 10% of the club is worth £1.79m.

Aye, ok then!!

I can remember Leslie Deans pleading with the shareholders to sell up to Romanov a few years ago. It was meant to be the only way to assure the future of the club. :confused:

[WindyMiller]

http://www.heartsfc.co.uk/articles/20121025/hearts-to-launch-share-offer_2241384_2959577



More laughs in there than a Tom Sharpe novel :greengrin


So he's valuing the club at around £18m.
Good luck with that Vlad!

[hibbybob]

"Dedicated Share Sale Hotline numbers have been set up on 0131-200 7270 and 0131-200 7215 to manage requests for information from 9am tomorrow morning."

Interesting phone number - couldn't they get 6270!!

[truehibernian]

Shares in football are one thing and one thing only - an emotional investment. Much like our 'buy a brick scheme' - although I do like the fact that with the Hibs offer you get to see something tangible and hopefully there for many a year. Both clubs are striving to get more cash from the supporters, however you do get the sense of desperation across at Gorgie. They really are toiling financially.

Fair play to them, I'm sure it will raise some cash. For me thought it is the start of a long process of Romanov leaving - and I think there will be more pain along the way.

Key words for me reading the article - the use of (after costs) on a couple of occasions. Another important aspect of it - they allude to investment in young players yet immediately state that the money will also be used towards the running of the club (wages I bet being at the forefront of it all).

Only fools rush in as they say....................

[ballengeich]

Key words for me reading the article - the use of (after costs) on a couple of occasions. Another important aspect of it - they allude to investment in young players yet immediately state that the money will also be used towards the running of the club (wages I bet being at the forefront of it all).

Only fools rush in as they say....................

Strangely similar to something discussed in another thread and shortly to be on offer in the west of the country:greengrin

[Phil MaGlass]

I think theres a good chance Vlad will use this as his get out of jail card, when the yamboloids dinnae dip into their pockets (and you would have to be a right Yamboloid to do so) he will just say well the fans cant be bothered either can I.cannae wait to see how many of the muppets hand over their hard earned cash, paying back their own debt comes to mind.
Bend over boys, the Vladmeister needs some cash to tuck away in a Lithuanian bank never to be seen again.

And it burned, burned, burned, their rings of fire, their rings of fire.

[Geo_1875]

£1 million should see them able to pay the wages on time for 2 months then the player registration embargo is lifted in time for Santa coming. Seems like a plan.

[grunt]

"Hearts, which reported a profit for the last two years..."!!!

Yeah, a profit, once you take into account the £16m debt write off by Vlad. I think a more pertinent piece of financial information is that in each of their last six years they have spent more on wages than their total income. Loved the "after costs" comment!

Heh heh.

[Col2]

How much did Vlad pay for all his shares? Was it anywhere near £18m? (Valuation according to this issue). If it wasn't anywhere near then you have I assume the club, stadium, assets and stronger and worth more with less liabilities? Remember he bought in 2005 when property and Scottish football was worth more and more attractive.

Numbers are a complete and utter fabrication. I reckon they will raise a £200k max less costs of £120k and enough to pay a weeks wages or 5% of a tax bill!!!

[hibbybob]

Only a fool wouldn't know that subscribing to this share offer would be throwing good money after bad - but that won't stop a lot of people buying in.

Provided they set the minimum contribution at a reasonable level I think they'll get a decent number of contributors. Some will be attracted by being able to say that they own a part of the club they support and have a bit paper to prove it, whilst others will be attracted by being able to attend future share holders meetings / AGM etc - and some of those will be quite interesting as the Vlad empire implodes!

I just hope it doesn't take too long for the Hearts shares to go the same way as Rangers!

[Famous5forever]

This plan must have been made up whilst vlad sat on the pan and scribbled on the back of a fag packet there is not a cats chance in hell they will sell all these shares

[Part/Time Supporter]

How much did Vlad pay for all his shares? Was it anywhere near £18m? (Valuation according to this issue). If it wasn't anywhere near then you have I assume the club, stadium, assets and stronger and worth more with less liabilities? Remember he bought in 2005 when property and Scottish football was worth more and more attractive.

Numbers are a complete and utter fabrication. I reckon they will raise a £200k max less costs of £120k and enough to pay a weeks wages or 5% of a tax bill!!!

Romanov bought the Pieman's share (just under 20%) for £870K. That would have valued the whole share capital at £4.4M then.

http://news.bbc.co.uk/sport1/hi/football/teams/h/heart_of_midlothian/3696726.stm

[Caversham Green]

Right, a couple of observations here:

First of all, the club is worth nothing because debts exceed assets and it has been trading at a loss for many years. That means the yams are being asked to pay for nothing but, as truehibernian says it's an emotional thing so they can be part of their club - fair play there.

This carries the same flaws as the proposed Sevco share issue - a permanent capital injection for transient benefit. The money will be used for annual costs such as wages and once it runs out they have to find more money for the next lot of expenses. Keep issuing shares and they dilute the value from an investment point of view so they can expect diminishing returns. From the emotional point of view the fans are just being asked to pay more for their football - it's not much different from putting ticket prices up.

They should issue a prospectus - presumably that's what the leaflet will be. Should be interesting reading.

The numbers don't really add up. They expect to raise £1.79m from the sale of shares at 11p each - that's just under 19.7m shares. There are currently just under 147m shares in issue (nominal value 10p each) so assuming it's a new share issue that would be nearly 12% of the club rather than the 10% they claim (they do say over 10% but I would have expected them to use the 12% figure).

If it's Mr Romanov selling his shares as Brian McLauchlin suggests, the money will go to Mr Romanov, not the club.

Finally (for now) a phrase that stands out for me is "a potential opportunity for the Board to test the willingness of supporters to get involved". If the issue fails (this time or in the future) Mr Romanov has every right to say "Well I gave them the chance to save their club, but they weren't interested." More than a hint of a threat there.

[Pedantic_Hibee]

http://www.scotsman.com/webimage/1.2597882.1351157942!image/1974821619.jpg_gen/derivatives/landscape_595/1974821619.jpg

Absolute lawl at that main stand.......it looks like one of the carriages you'd expect to see coupled to the back of an Intercity model railway train bought from Harburn Hobbies.

AAAAAAHAHAHAHAHAHAHAHAHA!!!

Anyone handing money over to the absolute mental that runs them is clearly a laptop short of a paedophile. Are they really that deranged? Seriously? Would they really buy into this?

MR Romanov (and don't you forget it) doesn't want to finance the club, he doesn't want to put any more money into them. So fans are now asked to stump up £1.79m which will go directly to him as they're buying his shares. So he gets the £1.79m then. Excellent, splendid plan indeed.

What an absolute embarrassment of a club they are. Take your 22 in a row, take your 5v1, 4v0 and Ronnie Corbett and surreptitiously ram it up your maroon farters. Your club is a laughing stock up and down the British Isles.

Hud oan, wait, I'll try and refrain, give me a second, I can do this, I promise I can do this.....awwwww nut, I cannae, here goes :faf: :faf: :faf: :faf:

GERRIT WRAPPED RIGHT F******G ROOND YE JAMBOS ​:fenlon

[Saorsa]

:top marks:faf: That clip is ****in hilarious. Anyone got the clip of the 2 hearts fans fighting outside tynie??http://i19.photobucket.com/albums/b168/jamie1971/smilies%202/handbags.gif


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

[SteveHFC]

http://www.scotsman.com/webimage/1.2597882.1351157942!image/1974821619.jpg_gen/derivatives/landscape_595/1974821619.jpg

Absolute lawl at that main stand.......it looks like one of the carriages you'd expect to see coupled to the back of an Intercity model railway train bought from Harburn Hobbies.

AAAAAAHAHAHAHAHAHAHAHAHA!!!

Anyone handing money over to the absolute mental that runs them is clearly a laptop short of a paedophile. Are they really that deranged? Seriously? Would they really buy into this?

MR Romanov (and don't you forget it) doesn't want to finance the club, he doesn't want to put any more money into them. So fans are now asked to stump up £1.79m which will go directly to him as they're buying his shares. So he gets the £1.79m then. Excellent, splendid plan indeed.

What an absolute embarrassment of a club they are. Take your 22 in a row, take your 5v1, 4v0 and Ronnie Corbett and surreptitiously ram it up your maroon farters. Your club is a laughing stock up and down the British Isles.

Hud oan, wait, I'll try and refrain, give me a second, I can do this, I promise I can do this.....awwwww nut, I cannae, here goes :faf: :faf: :faf: :faf:

GERRIT WRAPPED RIGHT F******G ROOND YE JAMBOS ​:fenlon

:not worth

[Pedantic_Hibee]

"Vladimir Romanov, Vladimir Romanov, Vladimir Romanov" - Aye, ok, I'll give you that.

"Roman Ro...Roman Romananov, Roman Romananov" - Nut. Just, nut. Doesnae work, let it go. It's over.

[jonty]

http://www.scotsman.com/webimage/1.2597882.1351157942!image/1974821619.jpg_gen/derivatives/landscape_595/1974821619.jpg

Absolute lawl at that main stand.......it looks like one of the carriages you'd expect to see coupled to the back of an Intercity model railway train bought from Harburn Hobbies.

AAAAAAHAHAHAHAHAHAHAHAHA!!!

Anyone handing money over to the absolute mental that runs them is clearly a laptop short of a paedophile. Are they really that deranged? Seriously? Would they really buy into this?

MR Romanov (and don't you forget it) doesn't want to finance the club, he doesn't want to put any more money into them. So fans are now asked to stump up £1.79m which will go directly to him as they're buying his shares. So he gets the £1.79m then. Excellent, splendid plan indeed.

What an absolute embarrassment of a club they are. Take your 22 in a row, take your 5v1, 4v0 and Ronnie Corbett and surreptitiously ram it up your maroon farters. Your club is a laughing stock up and down the British Isles.

Hud oan, wait, I'll try and refrain, give me a second, I can do this, I promise I can do this.....awwwww nut, I cannae, here goes :faf: :faf: :faf: :faf:

GERRIT WRAPPED RIGHT F******G ROOND YE JAMBOS ​:fenlon

http://s3.freefoto.com/images/43/23/43_23_63_web.jpg

[Dave-O]

http://www.scotsman.com/webimage/1.2597882.1351157942!image/1974821619.jpg_gen/derivatives/landscape_595/1974821619.jpg

Absolute lawl at that main stand.......it looks like one of the carriages you'd expect to see coupled to the back of an Intercity model railway train bought from Harburn Hobbies.

AAAAAAHAHAHAHAHAHAHAHAHA!!!

Anyone handing money over to the absolute mental that runs them is clearly a laptop short of a paedophile. Are they really that deranged? Seriously? Would they really buy into this?

MR Romanov (and don't you forget it) doesn't want to finance the club, he doesn't want to put any more money into them. So fans are now asked to stump up £1.79m which will go directly to him as they're buying his shares. So he gets the £1.79m then. Excellent, splendid plan indeed.

What an absolute embarrassment of a club they are. Take your 22 in a row, take your 5v1, 4v0 and Ronnie Corbett and surreptitiously ram it up your maroon farters. Your club is a laughing stock up and down the British Isles.

Hud oan, wait, I'll try and refrain, give me a second, I can do this, I promise I can do this.....awwwww nut, I cannae, here goes :faf: :faf: :faf: :faf:

GERRIT WRAPPED RIGHT F******G ROOND YE JAMBOS ​:fenlon



:top marks..........:not worth

[Mikey]

Right, a couple of observations here:

First of all, the club is worth nothing because debts exceed assets and it has been trading at a loss for many years. That means the yams are being asked to pay for nothing but, as truehibernian says it's an emotional thing so they can be part of their club - fair play there.

This carries the same flaws as the proposed Sevco share issue - a permanent capital injection for transient benefit. The money will be used for annual costs such as wages and once it runs out they have to find more money for the next lot of expenses. Keep issuing shares and they dilute the value from an investment point of view so they can expect diminishing returns. From the emotional point of view the fans are just being asked to pay more for their football - it's not much different from putting ticket prices up.

They should issue a prospectus - presumably that's what the leaflet will be. Should be interesting reading.

The numbers don't really add up. They expect to raise £1.79m from the sale of shares at 11p each - that's just under 19.7m shares. There are currently just under 147m shares in issue (nominal value 10p each) so assuming it's a new share issue that would be nearly 12% of the club rather than the 10% they claim (they do say over 10% but I would have expected them to use the 12% figure).

If it's Mr Romanov selling his shares as Brian McLauchlin suggests, the money will go to Mr Romanov, not the club.

Finally (for now) a phrase that stands out for me is "a potential opportunity for the Board to test the willingness of supporters to get involved". If the issue fails (this time or in the future) Mr Romanov has every right to say "Well I gave them the chance to save their club, but they weren't interested." More than a hint of a threat there.

You could have condensed that into............. "it's a donation" :greengrin

[NOLA]

a yam and his money are easily parted :not worth

[Hibercelona]

http://www.scotsman.com/webimage/1.2597882.1351157942!image/1974821619.jpg_gen/derivatives/landscape_595/1974821619.jpg

Absolute lawl at that main stand.......it looks like one of the carriages you'd expect to see coupled to the back of an Intercity model railway train bought from Harburn Hobbies.

AAAAAAHAHAHAHAHAHAHAHAHA!!!

Anyone handing money over to the absolute mental that runs them is clearly a laptop short of a paedophile. Are they really that deranged? Seriously? Would they really buy into this?

MR Romanov (and don't you forget it) doesn't want to finance the club, he doesn't want to put any more money into them. So fans are now asked to stump up £1.79m which will go directly to him as they're buying his shares. So he gets the £1.79m then. Excellent, splendid plan indeed.

What an absolute embarrassment of a club they are. Take your 22 in a row, take your 5v1, 4v0 and Ronnie Corbett and surreptitiously ram it up your maroon farters. Your club is a laughing stock up and down the British Isles.

Hud oan, wait, I'll try and refrain, give me a second, I can do this, I promise I can do this.....awwwww nut, I cannae, here goes :faf: :faf: :faf: :faf:

GERRIT WRAPPED RIGHT F******G ROOND YE JAMBOS ​:fenlon

I remember walking past that stand for the first time when I was just a wee lad..... thinking it was a train station.

Complete hell hole of a stadium.

[JimBHibees]

http://www.scotsman.com/webimage/1.2597882.1351157942!image/1974821619.jpg_gen/derivatives/landscape_595/1974821619.jpg

Absolute lawl at that main stand.......it looks like one of the carriages you'd expect to see coupled to the back of an Intercity model railway train bought from Harburn Hobbies.

AAAAAAHAHAHAHAHAHAHAHAHA!!!

Anyone handing money over to the absolute mental that runs them is clearly a laptop short of a paedophile. Are they really that deranged? Seriously? Would they really buy into this?

MR Romanov (and don't you forget it) doesn't want to finance the club, he doesn't want to put any more money into them. So fans are now asked to stump up £1.79m which will go directly to him as they're buying his shares. So he gets the £1.79m then. Excellent, splendid plan indeed.

What an absolute embarrassment of a club they are. Take your 22 in a row, take your 5v1, 4v0 and Ronnie Corbett and surreptitiously ram it up your maroon farters. Your club is a laughing stock up and down the British Isles.

Hud oan, wait, I'll try and refrain, give me a second, I can do this, I promise I can do this.....awwwww nut, I cannae, here goes :faf: :faf: :faf: :faf:

GERRIT WRAPPED RIGHT F******G ROOND YE JAMBOS ​:fenlon

Brilliant and the jakey Foulkes could easily fill the role of the Fat Controller. :greengrin

[NOLA]

Share issue where fans will be invited to stump up the £1.75 million HMRC are looking for, :thumbsup:

[Saorsa]

Brilliant and the jakey Foulkes could easily fill the role of the Fat Controller. :greengrinFat pishy controller :agree:

http://i45.tinypic.com/hvpcwm.jpg

[HibbyAndy]

Its nearly here fellow Hibees..Its nearly ****ing here!!.. D-Day, Oblivion ,The day the better half of Edinburgh cannot wait to see. Akin see what Romanov has done here..He's basically putting all the blame on the Hearts fans so when it all goes Pete Tong in the (very) near future this utter moron kin turn roond and say 'Well i gave YOU the FANS the chance to SAVE our club..Very smart from the man who was gonna build a 51 Million seater main stand with a hotel, Cinema, Wee island like Zante, A mall that took 7 days to walk through with all the designer shops, 75 indoor football pitches etc.


This man will walk away very shortly and it will ALL be Hearts fans fault.:cb:cb:cb


GIFRUY YOU SMELLY TRAMPY HUN WANNABE BARSTEWARDS.

[matty_f]

The fans will buy the shares regardless of profit etc, if Hibs had a share issue like this I'd be definitely get some.

The question to ask though is how much of the money raised will go to the club, and how much will find it's way to the owner who is presumably looking to start clawing back what little he can on the amounts he's spent or written off already.

Whether they'll raise the amount they're looking for is another matter, but I wouldn't be surprised if they did. Again, that money won't last long with what they spend anyway. They're pishing into the ocean here.

[matty_f]

http://www.scotsman.com/webimage/1.2597882.1351157942!image/1974821619.jpg_gen/derivatives/landscape_595/1974821619.jpg

Absolute lawl at that main stand.......it looks like one of the carriages you'd expect to see coupled to the back of an Intercity model railway train bought from Harburn Hobbies.

AAAAAAHAHAHAHAHAHAHAHAHA!!!

Anyone handing money over to the absolute mental that runs them is clearly a laptop short of a paedophile. Are they really that deranged? Seriously? Would they really buy into this?

MR Romanov (and don't you forget it) doesn't want to finance the club, he doesn't want to put any more money into them. So fans are now asked to stump up £1.79m which will go directly to him as they're buying his shares. So he gets the £1.79m then. Excellent, splendid plan indeed.

What an absolute embarrassment of a club they are. Take your 22 in a row, take your 5v1, 4v0 and Ronnie Corbett and surreptitiously ram it up your maroon farters. Your club is a laughing stock up and down the British Isles.

Hud oan, wait, I'll try and refrain, give me a second, I can do this, I promise I can do this.....awwwww nut, I cannae, here goes :faf: :faf: :faf: :faf:

GERRIT WRAPPED RIGHT F******G ROOND YE JAMBOS ​:fenlon

Actually, that's what I meant to say. :top marks

[Mon Dieu4]

simply, the games up the pole

[hibsbollah]

Let's be honest here, there's been threads on this board predicting the impending implosion of the yams for years and years since Romanov arrived, and nothing ever happens. Let's keep the champagne on ice:lips seal

[RIP]

Can anyone shed light on the fate of the thousands of Rangers fans who pumped money into the club over the years to finance stadium improvements?

[Hibercelona]

Let's be honest here, there's been threads on this board predicting the impending implosion of the yams for years and years since Romanov arrived, and nothing ever happens. Let's keep the champagne on ice:lips seal

Exactly.

It's always the final countdown on here every single year.

They'll wriggle their way out of this some how. They're like worms up a hole.

[Pedantic_Hibee]

Can anyone shed light on the fate of the thousands of Rangers fans who pumped money into the club over the years to finance stadium improvements?

It went on PAY....eh, VA.....I mean, NI Con....nae idea to be fair.

[Hibs7]

This is the start of Vlad selling the ****s off, he cannot get a buyer so cunningly sell the dump and his shares to the neanderthals and leave them with the pigsty and the debt. Brilliant and I bet he pockets most of it, if and it is a big if he gets this to be successful, there will be more to follow till he gets his money back, lambs to the slaughter in the Russian circus.

[Apocalypso]

Bye bye jamtards..

[Diclonius]

who have i given personal abuse to :confused:

If it was your reply to my previous post then I don't see what was personal about it? Was a reasonable argument if I remember correctly? :confused:

[HibbyAndy]

Quite appropriate the song they sing is called 'The end is near' :hilarious



:aok::cb

[Ozyhibby]

Is the stadium still owned by the club?

[Kato]

This is the start of Vlad selling the ****s off, he cannot get a buyer so cunningly sell the dump and his shares to the neanderthals and leave them with the pigsty and the debt. Brilliant and I bet he pockets most of it, if and it is a big if he gets this to be successful, there will be more to follow till he gets his money back, lambs to the slaughter in the Russian circus.


Don't think he'll be including the Piggery in that. Did he not separate the football club and the ground as part of one the "debt forgiveness" things?

Tynecastle, or at least the land it's on, is worth real actual sponds. HoMoFC is worth doodly squat, until you factor in the aforementioned emotional investment.

Vlad will be holding onto the Piggery, what he'll be selling off (he hopes) is worthless ponzi paper to the fools.

I reckon he'll raise between 250-500k - and that's being generous.

Imagine being a Jambo and waking up on Christmas morning to find a useless piece of paper in your stocking. Makes me all warm and sticky just thinking about it.

[english_hibee]

According to a pal it's all over Brokeback that Skacel's signed for Dundee Utd, announcement to be made tomorrow. Apparently there's a whole heap of "ITK"ers who have their sources etc - wonder if they're the same people who were ITK about a deal being done at Tynie.......?! Still, if true, means we get a crack at him on the 11th at ER......quite a come down for the arrogant t**t!!!!

[Seveno]

So they only sold 8,500 season tickets. Little wonder they ran out of money so early into the season.

[Seveno]

Brian McLaughlin on tv at the moment from outside the PBS ...... wearing a lovely bottle green tie.:greengrin

[MSK]

Queues are building outside the pink piggery...the yams are revolting ... 8762

[Www1875hfc]

Brian McLaughlin on tv at the moment from outside the PBS ...... wearing a lovely bottle green tie.:greengrin

Is a grade A Penicuik Hearts t**t. :agree:

[truehibernian]

Is a grade A Penicuik Hearts t**t. :agree:

Brian is okay to be honest - absolute sook towards players, especially Hearts players. I nearly boked into my hands when I heard him gushing over David Templeton this season just before he was about to do some post game interviews - to be fair to Templeton he couldn't get away from him quick enough. Added to that his dress sense is in keeping with being a Hearts fan and is rather hideous.

He's also piled on the timber this year - clearly Yogi and Fat Jim aren't inviting him to cosy wee golf rounds as often these days.

[Iggy Pope]

Brian is okay to be honest - absolute sook towards players, especially Hearts players. I nearly boked into my hands when I heard him gushing over David Templeton this season just before he was about to do some post game interviews - to be fair to Templeton he couldn't get away from him quick enough. Added to that his dress sense is in keeping with being a Hearts fan and is rather hideous.

He's also piled on the timber this year - clearly Yogi and Fat Jim aren't inviting him to cosy wee golf rounds as often these days.

And all of this makes him OK?
I agree with 1875. He's a twat,

[truehibernian]

And all of this makes him OK?
I agree with 1875. He's a twat,

Having met him aye he is okay HH - however he has the obvious failings. Hearts fan being at the top of that list :-)

[RyeSloan]

Right, a couple of observations here:

First of all, the club is worth nothing because debts exceed assets and it has been trading at a loss for many years. That means the yams are being asked to pay for nothing but, as truehibernian says it's an emotional thing so they can be part of their club - fair play there.

This carries the same flaws as the proposed Sevco share issue - a permanent capital injection for transient benefit. The money will be used for annual costs such as wages and once it runs out they have to find more money for the next lot of expenses. Keep issuing shares and they dilute the value from an investment point of view so they can expect diminishing returns. From the emotional point of view the fans are just being asked to pay more for their football - it's not much different from putting ticket prices up.

They should issue a prospectus - presumably that's what the leaflet will be. Should be interesting reading.

The numbers don't really add up. They expect to raise £1.79m from the sale of shares at 11p each - that's just under 19.7m shares. There are currently just under 147m shares in issue (nominal value 10p each) so assuming it's a new share issue that would be nearly 12% of the club rather than the 10% they claim (they do say over 10% but I would have expected them to use the 12% figure).

If it's Mr Romanov selling his shares as Brian McLauchlin suggests, the money will go to Mr Romanov, not the club.

Finally (for now) a phrase that stands out for me is "a potential opportunity for the Board to test the willingness of supporters to get involved". If the issue fails (this time or in the future) Mr Romanov has every right to say "Well I gave them the chance to save their club, but they weren't interested." More than a hint of a threat there.

CAV if it's a new share issue would there be a need for the issue to be underwritten? Can't see any one taking this on.

I assume Hearts are privately held so what's the rules around this type of sale? Seems to me they are offering shares at a totally inflated price as they are effectively worthless....is there not some sort of investor protection to stop this happening....I.e the prospectus will surely be misrepresentative of the business and therefore a fraudulent offering?

[Capt Mainwaring]

There wasn't £1.79m offered by any investors a few years back when the Pieman had them on the brink which was why Vlad stepped in. If they couldnt raise it then in such dire circumstances how do they think they will raise it now when a meaningless 10% of the issued shares are up for grabs and all you get is a nice Certificate and a cup of tea at the AGM.

Dire mismanagement from Vlad, with no transparency and communication to the fans over the last 6 years on how the club is run and not a dicky bird over the non payment of wages fiasco yet he expects them to bail him out? Really looks like last throw of the dice stuff.

Share issue for short term working capital !! Tick Tock.

[Golden Bear]

Any Hearts fan buying into this will be making an emotional investment and I don't think for a minute that they will expect any real return for their money other than the forlorn hope that they may be able to postpone the inevitable doomsday scenario.

[bingo70]

I'm sure there'll be an obvious answer to this that i just don't know but if it's just effectively a donation for a few shares that in the bigger scheme of things won't mean anything but could potentially raise a decent amount of money what is the disadvantage to Hibs doing something similar?

Although it won't fix any long term issues that Hearts have, it sounds like it won't do any harm so on the face of it to a daftie like me it doesn't seem a bad idea?

Can someone educate me please :greengrin

[Craig_in_Prague]

I'm sure there'll be an obvious answer to this that i just don't know but if it's just effectively a donation for a few shares that in the bigger scheme of things won't mean anything but could potentially raise a decent amount of money what is the disadvantage to Hibs doing something similar?

Although it won't fix any long term issues that Hearts have, it sounds like it won't do any harm so on the face of it to a daftie like me it doesn't seem a bad idea?

Can someone educate me please :greengrin

Of course raising more cash isnt a bad thing however as someone else said above, issuing shares for short term working capital is a pretty alarming sign. Not to mention they are worthless shares.

[green glory]

Fat pishy controller :agree:



Jesus Christ!

[GoldenEagle]

8500 ST sales but a while back they were well on course for 10,000.

http://www.dailyrecord.co.uk/sport/football/hearts-see-surge-in-season-ticket-1131811

[CropleyWasGod]

There wasn't £1.79m offered by any investors a few years back when the Pieman had them on the brink which was why Vlad stepped in. If they couldnt raise it then in such dire circumstances how do they think they will raise it now when a meaningless 10% of the issued shares are up for grabs and all you get is a nice Certificate and a cup of tea at the AGM.

.

...in which case, it would be a better deal than we get!!!! :rolleyes:

[Kato]

If the Jamtards come up short on this asking price they are Donald.

[ScottB]

Curious that again the media seem not to be asking any pertinent questions...

Club in massive debt, owner publicly stating he won't give them another penny, failed to pay their players on time two months running, now going to the fans with a begging bowl for cash.

There should surely be stories questioning their chances for survival? Once again the failings of those masquerading as journalists in Scottish football come to the fore. It'd be great if they could ask BBC Scotland's financial correspondent what his views on the situation could be, as I bet they'd be much more interesting than whatever Hearts fan they've got spinning a positive yarn on this latest lurch towards the grave...

[ronaldo7]

Tell all the Hearts you know,
They're skint, and they just need a bowl.

8763

[Kato]

'd be great if they could ask BBC Scotland's financial correspondent what his views on the situation could be...


Nah. Alex Thomson is required.

Chances are the BBC's Scottish financial correspondent has dipped his toes in Jambo Succulent lamb sauce at some point, even if it's just toadying to Salmond and the rest of that ilk (i.e. all Scottish politicians.)

Someone should tweet Alex Thomson to see if he's interested.

Story still has develop though. Maybe a Scottish Journo is ready to point out the schemes dodginess. It's hardly soup to nuts that Hawrts are toiling going from their inability to find money to pay players on time, an incident which prompted the LRT driver bloke who manages them to claim it was the worst crisis at the club since the 70's, to asking their paying customers to stump up an extra 1.7M Squids per annum - and apparently they will be asked for this every year for a while if this enterprise is successful, which I'm sure it will (:rolleyes:).

I reckon the late, great and frequently pished Scottish football writer John Fairgreave will finally get his wish for his beloved Jambos, if you know what I mean.

[greenginger]

I wonder if the Save our Hearts campaign that sprang up when Robinson was going to flog the PBS to Cala will be reformed.

I seem to remember one guy was going to sell his house and put the proceeds into the fund. To bad for Vlad there's not much demand for single-ends with outside toilets in today's market.

[SloopJB]

Nah. Alex Thomson is required.

Chances are the BBC's Scottish financial correspondent has dipped his toes in Jambo Succulent lamb sauce at some point, even if it's just toadying to Salmond and the rest of that ilk (i.e. all Scottish politicians.)

Someone should tweet Alex Thomson to see if he's interested.

Story still has develop though. Maybe a Scottish Journo is ready to point out the schemes dodginess. It's hardly soup to nuts that Hawrts are toiling going from their inability to find money to pay players on time, an incident which prompted the LRT driver bloke who manages them to claim it was the worst crisis at the club since the 70's, to asking their paying customers to stump up an extra 1.7M Squids per annum - and apparently they will be asked for this every year for a while if this enterprise is successful, which I'm sure it will (:rolleyes:).

I reckon the late, great and frequently pished Scottish football writer John Fairgreave will finally get his wish for his beloved Jambos, if you know what I mean.

Never, in the field of football banter, was so much written, with so little meaning

[Kato]

Save our Hearts campaign


Were they not the cats who attacked the Hearts team bus?

They attacked their own team bus, honestly they are the biggest morons around.

They will be bragging about "fan ownership" or somesuch for the next two months and raise about 50 bob. Sad barstewards really.

[ScottB]

I'm struggling to see how this works though as reported.

If Vlad is selling his shares, what guarantee is there that he'll actually hand over the cash to the club?

If the club is creating new shares to sell, then presumably the club gets the money straight away, but then also what stops Vlad trousering that money straight away for interest payments or any other excuse he decides is worth using...

[jonty]

I'm struggling to see how this works though as reported.

If Vlad is selling his shares, what guarantee is there that he'll actually hand over the cash to the club?

If the club is creating new shares to sell, then presumably the club gets the money straight away, but then also what stops Vlad trousering that money straight away for interest payments or any other excuse he decides is worth using...
If Vlad is selling his shares, then he gets the money - it wont go near the club.

He must be completed rooked if he's trying to get 2 million.

[NotoriousLor]

When you buy a share do you actually get a bit paper saying something like you own 1 share in hertz, if so can we all buy 1 each to take to that dump on the 3rd, hold them up while singing 'we ****ing own you'.
Then in unison, burn them all?

[Bostonhibby]

When you buy a share do you actually get a bit paper saying something like you own 1 share in hertz, if so can we all buy 1 each to take to that dump on the 3rd, hold them up while singing 'we ****ing own you'.
Then in unison, burn them all?

Great idea, you do get a certificate but I cannae see you getting anywhere near that tinderbox wi a match :greengrin

[Jonnyboy]

When you buy a share do you actually get a bit paper saying something like you own 1 share in hertz, if so can we all buy 1 each to take to that dump on the 3rd, hold them up while singing 'we ****ing own you'.
Then in unison, burn them all?

Time for some photoshopping by some of our in-house guru's I think :agree:

Remember the Vlad bank note?

:aok:

[greenginger]

If Vlad is selling his shares, then he gets the money - it wont go near the club.

He must be completed rooked if he's trying to get 2 million.


He's got an Alumina Smelter to save, at least it made a profit for UBIG one year unlike the PBS money-drain.

[Kato]

Never, in the field of football banter, was so much written, with so little meaning

Why thank you.:wink:

[Jim44]

When you buy a share do you actually get a bit paper saying something like you own 1 share in hertz, if so can we all buy 1 each to take to that dump on the 3rd, hold them up while singing 'we ****ing own you'.
Then in unison, burn them all?

Minimum purchase is 909 shares for £100.

[NotoriousLor]

Minimum purchase is 909 shares for £100.

Think we can all chip in though?

[ScottB]

Time for some photoshopping by some of our in-house guru's I think :agree:

Remember the Vlad bank note?

:aok:

The Vlad Bank notes simply must come back!

If we do the shares thing, let's Photoshop them, not give them money!

If we get a shot of what one of their shares looks like, I can fake it...

[EskbankHibby]

Spoke to a couple of jambos tonight who are actually going to buy shares. Yes that's right buy shares in an insolvent company owned by a shady madman.

Emotional attachment or not any potential 'investors' should be sectioned. How much time would 1.7m buy them with the money they hemorrhage on a monthly basis?

Deck chairs on the Titanic and all that.

[Hibby70]

As Im walking round Disney can someone do a quick summary of events so I can inform any passing yams.

[WarringtonHibee]

The Vlad Bank notes simply must come back!

http://markkidley.com/vladcash/

They never went away. :wink:

[NotoriousLor]

As Im walking round Disney can someone do a quick summary of events so I can inform any passing yams.

Never seen such a 'hey guys, by the way i'm on holiday and you're not' post in my life, lol :na na:

[Fife-Hibee]

http://oi50.tinypic.com/2yozqk5.jpg

Lol

[Hibby70]

Never seen such a 'hey guys, by the way i'm on holiday and you're not' post in my life, lol :na na:
Lol

[PatHead]

Have spent the evening deliberating and discussing the options for Hearts with a number of supporters from both Hibs and other clubs. After a lot of discussion the general feeling is that they are ****ed. Vlad is looking to raise what he can and it is only a matter of time before the fat lady starts to sing.

Soon we shall start hearing about how all Hearts fans were duped, they didn't know what was going on. So after years of employing child molesters, employing people they couldn't afford, going around being a "big club", buying cups, winning the Champions Leagues, there is only one thing to say to these sub human species. Switch the light out on the way out. You won't be missed.

[ScottB]

http://markkidley.com/vladcash/

They never went away. :wink:

Haha glorious. Simply glorious. :D

[alexedwards]

If the Jamtards come up short on this asking price they are Donald.


These 4 players are the main earners; Zaliukas - 7k per week; Webster/Driver 5k each and Taouil 3k per week.
There's just over £1m per annum right there - if they raise funds it will go towards wages for the rest of this
season and some or all of the above may be emptied in Jan or season-end.
The outgoing wage costs will be brought down to be more in line with income and the club will be self-sufficient.
As said before Vlad has no intention of selling the club but he will endeavour to use it now for his own benefits
in whatever fashion he can.

[Caversham Green]

CAV if it's a new share issue would there be a need for the issue to be underwritten? Can't see any one taking this on.

I assume Hearts are privately held so what's the rules around this type of sale? Seems to me they are offering shares at a totally inflated price as they are effectively worthless....is there not some sort of investor protection to stop this happening....I.e the prospectus will surely be misrepresentative of the business and therefore a fraudulent offering?

There's no need for it to be underwritten as there's not a minimum finance target. For example if they were building a new stand and needed £51m the issue would need to be underwritten to ensure enough capital was raised to fund the project but this is just an attempt to squeeze as much cash out of the suckers as they can.

Hearts are still a plc and I would describe this sale as an offer to the public (assuming it's a new issue) so I think the prospectus will have to be fairly clear on what the yams are getting for their money. I would expect it to be heavy on the emotional aspect with a rider in the small print about the lack of real value. On reflection, tomorrow's leaflet might just be inviting interest, with the full prospectus being issued to those who apply.

[Caversham Green]

These 4 players are the main earners; Zaliukas - 7k per week; Webster/Driver 5k each and Taouil 3k per week.
There's just over £1m per annum right there - if they raise funds it will go towards wages for the rest of this
season and some or all of the above may be emptied in Jan or season-end.
The outgoing wage costs will be brought down to be more in line with income and the club will be self-sufficient.
As said before Vlad has no intention of selling the club but he will endeavour to use it now for his own benefits
in whatever fashion he can.

Thier problem is that their staff costs for 11 months was over £8m with turnover for the same period (but covering a full season) was under £7m. With other costs coming in at £5m+ they're still nowhere near self-sufficient.

[greenginger]

There's no need for it to be underwritten as there's not a minimum finance target. For example if they were building a new stand and needed £51m the issue would need to be underwritten to ensure enough capital was raised to fund the project but this is just an attempt to squeeze as much cash out of the suckers as they can.

Hearts are still a plc and I would describe this sale as an offer to the public (assuming it's a new issue) so I think the prospectus will have to be fairly clear on what the yams are getting for their money. I would expect it to be heavy on the emotional aspect with a rider in the small print about the lack of real value. On reflection, tomorrow's leaflet might just be inviting interest, with the full prospectus being issued to those who apply.

All the legal advice, glossy leaflet printing, and the rest won't be cheap. What's the chances they will spend more than they will take-in ?

There must be a fair section of the support think ignoring this con.trick will lead to a Vlad free future as he would be forced to sell up to any bidder as he must know by now Yams and profit are two words that can never appear in the same sentence.

[Bill Milne]

Bottom line is the Jambo fans are being asked to stump up money Vlad is no longer prepared to supply at no cost to him whatsoever. This is probably because his "empire" is in trouble, as I infer from the Bosnian steelworks going into meltdown.

[Broken Gnome]

These 4 players are the main earners; Zaliukas - 7k per week; Webster/Driver 5k each and Taouil 3k per week.
There's just over £1m per annum right there - if they raise funds it will go towards wages for the rest of this
season and some or all of the above may be emptied in Jan or season-end.
The outgoing wage costs will be brought down to be more in line with income and the club will be self-sufficient.
As said before Vlad has no intention of selling the club but he will endeavour to use it now for his own benefits
in whatever fashion he can.

Reckon there's add ons that take some of those numbers a lot
higher. Barr would also be on fair whack, as is Sutton, even Jamie Macdonald's on about 5k.

[Bostonhibby]

As Im walking round Disney can someone do a quick summary of events so I can inform any passing yams.

I imagine that at some point you will see a few symbolic clues, for example you are bound to see a giant cartoon duck waddling its way round Disneyland - there are many on here who believe the Yammish are soon to be Donald Ducked as a result of the amazing opportunity they are being given to buy shares in their club (or acquire sone of Vlads paper debt in exchange for cash money) if not I am sure you are bound to see Mickey Mouse........................I could go on :greengrin:wink:

[Craig_in_Prague]

Reckon there's add ons that take some of those numbers a lot
higher. Barr would also be on fair whack, as is Button, even Jamie Macdonald's on about 5k.

for that reason alone, they deserve to go bust.

[Kaiser1962]

Fascinatingly when you look at their appeal for £1.79m then, given their rate of expenditure in the last published accounts which was £15.204m (income of £6.915m (less than us!) plus "debt forgiveness" of £8.8m with £511k "profit" already deducted) and remember that this was over a period of 11 months (334 days) means that their "share issue", fully subscribed, will not even last them 6 weeks (just under40 days). They will undoubtedly point to their "cost cutting" which has been going on for years with zero impact on their bank balance.

And some folk still think they are not going bump? They are already dead they are just too thick to notice.

[#FromTheCapital]

Reckon there's add ons that take some of those numbers a lot
higher. Barr would also be on fair whack, as is Button, even Jamie Macdonald's on about 5k.

Its no wonder that players still choose to go to hearts after their well publicised wage delays. Theres no other club in britain that would give a ***** keeper like macdonald 5k a week. It might be late most of the time but i'd be willing to put up with that if I was getting payed so much more than I was worth

[brog]

Surely it should be 999 shares for £100!!! And 8,500 season tickets is unbelievable coming right after their best result in history. If roles had been reversed I'm sure we would have been well into 5 figures & it appears they would have been lucky to sell 5K!! big team my erchie!!
PS, they won't even be the big team to go bust, their role models already won that prize!

[brog]

Its no wonder that players still choose to go to hearts after their well publicised wage delays. Theres no other club in britain that would give a ***** keeper like macdonald 5k a week. It might be late most of the time but i'd be willing to put up with that if I was getting payed so much more than I was worth

No disrespect to OP but I doubt very much if Jamie Mac is on half of £5K a week. Kello et al were let go precisely because they were on those wages, JM was very much the cheap option.

[cabbageandribs1875]

No disrespect to OP but I doubt very much if Jamie Mac is on half of £5K a week. Kello et al were let go precisely because they were on those wages, JM was very much the cheap option.


or even less than half :agree: 5K someones havin a larf

[StevieC]

"If this first share offer is successful we believe that future proposals could be considered that may eventually allow for Hearts supporters to take over the club entirely."

This is a 10% issue, so based on this the club is valued at £18m .. by who?
Would a fan takeover only need 51% of the shares? Can't see Romanov hanging around to be told what to do, so who would buy out his 49% (of a company up to its eyes in debt)?

So it's either a short term fix ..
.. or around 10,000 fans need to pay £200 a year for the next 10 years to own a club that is, on paper, worthless.


"Every pound raised by supporters, after costs, will be reinvested into the club"

Every pound raised by supporters will go towards this seasons "debt forgiveness" figure.


Looks to me like Vlad has caught on to what is happening at Ibrox and thought to himself that if The Rangers fans are daft enough to buy into it, why not Hearts ones as well.

[Geo_1875]

Their shares will have small print like Green Shield Stamps. Cash value equivalent 0.00001p.

[jgl07]

"If this first share offer is successful we believe that future proposals could be considered that may eventually allow for Hearts supporters to take over the club entirely."

This is a 10% issue, so based on this the club is valued at £18m .. by who?
Would a fan takeover only need 51% of the shares? Can't see Romanov hanging around to be told what to do, so who would buy out his 49% (of a company up to its eyes in debt)?

So it's either a short term fix ..
.. or around 10,000 fans need to pay £200 a year for the next 10 years to own a club that is, on paper, worthless.


Yes but 400,000 fans paying £100 could do it much quicker!

[Kaiser1962]

"Every pound raised by supporters, after costs, will be reinvested into the club"

Every pound raised by supporters will go towards this seasons "debt forgiveness" figure.



The bit in bold is the key phrase :wink:

[Broken Gnome]

or even less than half :agree: 5K someones havin a larf

No reason to dispute it. Would say all variations on wages there would likely be subject to other bonuses that could escalate basic wages quite a bit.

[sambajustice]

Time for some photoshopping by some of our in-house guru's I think :agree:

Remember the Vlad bank note?

:aok:


I'm taking the credit for that idea!!

Certainly cannot take credit for the fantastic notes that were produced! Astounding piece of photoshoppery!!

[clerriehibs]

Stuart bathgate in the scotsman suggests the yams AREN'T strapped or they'd have raised money in a different way. He doesn't attempt to explain non payment of wages. Is he another yam tool?

[DaveF]

Stuart bathgate in the scotsman suggests the yams AREN'T strapped or they'd have raised money in a different way. He doesn't attempt to explain non payment of wages. Is he another yam tool?

Him and BAnderson are as yammish as you can get, and will kiss Vlad's arse all day long.

[greenginger]

Stuart bathgate in the scotsman suggests the yams AREN'T strapped or they'd have raised money in a different way. He doesn't attempt to explain non payment of wages. Is he another yam tool?


It may all have been a ploy to concentrate the Yam minds ahead of Vlad's fantastic share offer. Plenty free publicity.:agree:

[JeMeSouviens]

So, for £1.79M you get a 10% share in a company that's losing money hand over fist, with a debt of £25M and assets worth maybe half of that.

**** me, that's desperate. :rolleyes:

On what planet is the £1.79M not enough to own the whole thing many times over? :confused:

Think Stevie hit the nail on the head above, they've seen the NewHuns thing attracting interest from mug Huns and thought, wait a minute ...

[Ozyhibby]

Provided you take on the debt you could buy Hearts for a pound right now but if you want 10% of Hearts the price is £1.79m.

[RyeSloan]

Provided you take on the debt you could buy Hearts for a pound right now but if you want 10% of Hearts the price is £1.79m.

Ha ha that so true. ... :greengrin

[Pedantic_Hibee]

http://www.guardian.co.uk/football/2012/oct/26/hearts-revenue-customs-tribunal-tax-bill?CMP=twt_gu

:fenlon

[carnoustiehibee]

@mrewanmurray: Hearts to face Revenue & Customs in tribunal over £1.75m tax bill http://t.co/gK08AVBf via @guardian

Sorry if already been talked about

[Saorsa]

http://www.guardian.co.uk/football/2012/oct/26/hearts-revenue-customs-tribunal-tax-bill?CMP=twt_gu

:fenlon:greengrin 'mon the tax man :agree:

[green glory]

Just saw this article on Twitter. 1.75m tax bill. 1.79m share issue.

As they say in the states. Go figure!

#maroonsevco

[Minder]

:greengrin 'mon the tax man :agree:

Rudi's away and the tax man cometh.

Just need a good result tonight for the perfect Friday.

:pfgwa

[greenginger]

The obvious question to ask !

What was on the contracts registered with the SPL and SFA.

A couple of Scottish Cup wins down the toilet me thinks. :greengrin :greengrin :greengrin

[JoeTortolanoFanClub]

http://www.guardian.co.uk/football/2012/oct/26/hearts-revenue-customs-tribunal-tax-bill?CMP=twt_gu

Hearts have launched a share programme, in which they will be seeking £1.79m from supporters in exchange for a 10% stake in the club; Tynecastle insiders are adamant the close proximity of that figure to the tax issue (£1.75m) is purely coincidental.

Oh ma sides :hahaha::titanic:

[CropleyWasGod]

The obvious question to ask !

What was on the contracts registered with the SPL and SFA.

A couple of Scottish Cup wins down the toilet me thinks. :greengrin :greengrin :greengrin

I'm not so sure.

It is conceivable that the correct wages were declared on the contracts lodged with the SFA and SPL. ..... whilst not operating PAYE properly on those wages, which seems to be the crux of the HMRC case.

We can hope, though. :cb

[Mon Dieu4]

have fun haha
http://www.hmfckickback.co.uk/index.php?/topic/119584-hearts-to-face-revenue-customs-in-tribunal-over-175m-tax-bill/

[english_hibee]

http://www.guardian.co.uk/football/2012/oct/26/hearts-revenue-customs-tribunal-tax-bill?CMP=twt_gu


Coincidence that this is the same figure they aim to raise from selling their shares..........hmmmm......... perhaps their fans really are as stupid as people think......!


:bye:

[VickMackie]

:faf:

Got to say though if they step up and save their club all credit to them. Won't happen though.

[english_hibee]

Sorry, just noticed this is also on the "doomsday/yams screwed" thread............ it is delicious though!

[VickMackie]

How can their wage bill be 7 million? They must be hoping they can make it through the season to get rid of all the high earners.

A few frees in the window I think.

[VickMackie]

Hearts have launched a share programme, in which they will be seeking £1.79m from supporters in exchange for a 10% stake in the club; Tynecastle insiders are adamant the close proximity of that figure to the tax issue (£1.75m) is purely coincidental.

Oh ma sides :hahaha::titanic:

:faf:

[hibee92]

Interesting :thumbsup:

[VickMackie]

have fun haha
http://www.hmfckickback.co.uk/index.php?/topic/119584-hearts-to-face-revenue-customs-in-tribunal-over-175m-tax-bill/

Dazo

We should have a share issue.

:faf:

Got to be a hibby!

[Mon Dieu4]

hopefully the link works and some of the financial guys will be able to make more of it than me, check out the risk section of their share issue portfolio
http://www.heartsfc.co.uk/page/ShareScheme/0,,10289~2959454,00.html

[clerriehibs]

Those rednecks better not go bust before we roast them on 3 jan

[Onceinawhile]

Not quite sure what this relates to tbh. Would like to know if anyone does.

[CropleyWasGod]

Not quite sure what this relates to tbh. Would like to know if anyone does.

As I understand it, not operating PAYE properly. Paying the loan players on the basis that they were resident in, say, Lithuania where tax rates are lower.... thereby paying HMRC less than they should have.

[Minder]

Is this particular share option similar to the "nigerian currency scam" . " I will send you ten thousand pounds but first I need a hundred as a processing charge. You then send me nine thousand pounds to another account after I have sent you the ten thousand.

If VLAD pulls this off he can have Jimmy Savilles knighthood.

[Mon Dieu4]

been reading the risks part again from their share option

" Assuming the Club is successful in relation to the HMRC case referred to above, the offer, if fully subscribed, should provide the Club with sufficient working capital to achieve its goals for the 2012/2013 season without requiring additional funding. However, if the HMRC case goes against the Club and/or the offer is not fully subscribed, the Club may have insufficient working capital to achieve its goals for the 2012/2013 season and may have to seek additional sources of funding."

so they already need the full amount just to get to the end of the season and that's if they win the tax case!!

and as another side note another part specifies that the £1.75m the tax man is after "excludes penalties and fees" so it could be even worse

[Onceinawhile]

As I understand it, not operating PAYE properly. Paying the loan players on the basis that they were resident in, say, Lithuania where tax rates are lower.... thereby paying HMRC less than they should have.

I wonder if they've only operated paye on the amount hearts were paying rather than the full amount. Players are quite Cleary resident in UK .

[jonty]

been reading the risks part again from their share option

" Assuming the Club is successful in relation to the HMRC case referred to above, the offer, if fully subscribed, should provide the Club with sufficient working capital to achieve its goals for the 2012/2013 season without requiring additional funding. However, if the HMRC case goes against the Club and/or the offer is not fully subscribed, the Club may have insufficient working capital to achieve its goals for the 2012/2013 season and may have to seek additional sources of funding."

so they already need the full amount just to get to the end of the season and that's if they win the tax case!!

and as another side note another part specifies that the £1.75m the tax man is after "excludes penalties and fees" so it could be even worse

Seems to me like Vlad could be looking to offload another 10% post xmas. Assuming they make it to then. Dundee could be looking at a second season in the SPL.:greengrin

[danhibees1875]

This seems to be the most relevant page on HMRC:

http://www.hmrc.gov.uk/paye/employees/start-leave/special/from-abroad.htm

IMO it's going to go down as a 'special case' at which point they should have contacted HMRC and got an official ruling on how much to pay. The fact HMRC are coming to get them suggests this didn't happen...


However, I can see their arguement that if only a small % of their wage is actually paid by Hearts and the rest by Kaunas then this is the set up of a lot of loan deals and they would only need to pay PAYE on the % they contribute.


Hopefully it's the former of those outcomes. :greengrin

[greenginger]

I'm not so sure.

It is conceivable that the correct wages were declared on the contracts lodged with the SFA and SPL. ..... whilst not operating PAYE properly on those wages, which seems to be the crux of the HMRC case.

We can hope, though. :cb


Possible of course, but I really hope the question is asked. Not much chance of Bathgate or Banderson mentioning it though.

[Peevemor]

This seems to be the most relevant page on HMRC:

http://www.hmrc.gov.uk/paye/employees/start-leave/special/from-abroad.htm

IMO it's going to go down as a 'special case' at which point they should have contacted HMRC and got an official ruling on how much to pay. The fact HMRC are coming to get them suggests this didn't happen...


However, I can see their arguement that if only a small % of their wage is actually paid by Hearts and the rest by Kaunas then this is the set up of a lot of loan deals and they would only need to pay PAYE on the % they contribute.


Hopefully it's the former of those outcomes. :greengrin

I'd agree, but I think it'll be more complicated than that. For example, at one point Hearts accounts showed loads of money being paid out in mysterious "player registration fees". This could easily have been Hearts paying Kaunus to in turn pay the loan players. This sort of tax dodging isn't so clear cut.

[RyeSloan]

been reading the risks part again from their share option

" Assuming the Club is successful in relation to the HMRC case referred to above, the offer, if fully subscribed, should provide the Club with sufficient working capital to achieve its goals for the 2012/2013 season without requiring additional funding. However, if the HMRC case goes against the Club and/or the offer is not fully subscribed, the Club may have insufficient working capital to achieve its goals for the 2012/2013 season and may have to seek additional sources of funding."

so they already need the full amount just to get to the end of the season and that's if they win the tax case!!

and as another side note another part specifies that the £1.75m the tax man is after "excludes penalties and fees" so it could be even worse

At last the smoke a mirrors are swept away. Basically they are skint and could have a multi million pound outlay to suffer on top.

Without Romanov throwing them another £3m or 4m it's finally the last tock of the tick tock :greengrin

[Kato]

I's agree, but I think it'll be more complicated than that. For example, at one point Hearts accounts showed loads of money being paid out in mysterious "player registration fees". This could easily have been Hearts paying Kaunus to in turn pay the loan players. This sort of tax dodging isn't so clear cut.


Does this not require a washing machine and some fabric conditioner.

At heart, Vlad is a spiv. Sometimes they can't help themselves.

[bingo70]

I'm guessing hmrc wouldn't take on a legal battle like this unless they were pretty certain they'd win it.

On the face of it the hearts defence sounds quite credible, however I'm sure hmrc must have evidence against them if they're pursuing them through the courts and it sounds like hertz are expecting to lose if they're relying on this share issue.

Does anyone that knows about these things know how common it is for hmrc to lose in court?

[goosano]

Does anyone that knows about these things know how common it is for hmrc to lose in court?

Ask portsmouth or Mr redknapp

[Part/Time Supporter]

I'm guessing hmrc wouldn't take on a legal battle like this unless they were pretty certain they'd win it.

On the face of it the hearts defence sounds quite credible, however I'm sure hmrc must have evidence against them if they're pursuing them through the courts and it sounds like hertz are expecting to lose if they're relying on this share issue.

Does anyone that knows about these things know how common it is for hmrc to lose in court?

It's the other way round. HMRC will have investigated Hearts, then assessed the liability based on their understanding of the facts. Hearts (as with any other taxpayer) have the right of appeal to an independent tribunal. That's what is sitting next month.

http://en.wikipedia.org/wiki/First-tier_Tribunal

The point of dispute here is essentially whether Hearts paid a market rate for the players "loaned" from Kaunas. Hearts will argue that they are entitled to only pay a small % of the wages through Scotland (with the rest paid through the lower tax regime of Lithuania) because lots of loan deals have situations where the borrowing club doesn't pay the full wage. HMRC will argue that because the two clubs are owned by the same controlling party, there isn't an arm's length bargain and that Romanov has fixed the % for tax advantage (no market reason). Particularly in the cases where Kaunas bought players then immediately "loaned" them to Hearts (eg Bednar).

[Hibeesforever]

I'm guessing hmrc wouldn't take on a legal battle like this unless they were pretty certain they'd win it.

On the face of it the hearts defence sounds quite credible, however I'm sure hmrc must have evidence against them if they're pursuing them through the courts and it sounds like hertz are expecting to lose if they're relying on this share issue.

Does anyone that knows about these things know how common it is for hmrc to lose in court?


HMRC rarely lose, just ask Sevco supporters! I wonder if the player registrations were all accurate ? Rangers did not get that right, it would be interesting to know if the "jam today bust tomorrow" outfit across the city disclosed everything to the SPL!!!

[Matty_Jack04]

HMRC rarely lose, just ask Sevco supporters! I wonder if the player registrations were all accurate ? Rangers did not get that right, it would be interesting to know if the "jam today bust tomorrow" outfit across the city disclosed everything to the SPL!!!

A certain SFA official had his fingers in a yam pie as well as the club formerly known as rangers

[Part/Time Supporter]

http://www.bbc.co.uk/sport/0/football/20105317


Hearts are "robustly" disputing a £1.75m bill from Revenue and Customs.

The tax bill, revealed in a document detailing an upcoming issue of Hearts shares, relates to players loaned to the Tynecastle club from FBK Kaunas.

Tax authorities have claimed what they regard as unpaid liabilities and the amount of the bill does not include interest and penalties.

That means it will be a lot more than £1.75M if they lose. Rangers potential liability in their tax case was increased by over 50% due to interest & penalties.


"The claims will be heard by the relevant tax tribunal in November 2012," Hearts stated.

Should the club be unsuccessful in their defence, they say it "could have a dramatically negative effect on the company".

And they added: "The directors are attempting to robustly defend those claims but the burden of proof is on the company and the tax will be payable unless the company is successful in challenging the claims."

Hearts argue that the players concerned were paid in Lithuania and tax was paid by FBK Kanuas.

Confirming what I said above. This is Hearts' appeal; they have to prove that HMRC are wrong in their assessment. Their defence is that they were entitled to pay the players mainly through Lithuania, as per other loan agreements where the parent club picks up most of the tab. I think they're on very shaky grounds due to the common ownership of the clubs. Look up transfer pricing (http://en.wikipedia.org/wiki/Transfer_pricing).

"Dramatically negative effect on the company" is a very disturbing phrase. If you're a Jambo.

[SteveHFC]

Hahahahahahahahahahahahahahahahhahahahahahahahahah a

[GoldenEagle]

• As at the 30th of June 2011 the amount due to the parent company, UAB Ukio Banko Investicine Grupe, was £22,413,000, which amount bears interest at 4.5%.UAB Ukio Banko Investicine Grupe have confirmed to the Directors of Heart of Midlothian plc. that they will not seek repayment of this amount during season 2012/2013 and at the 1st July 2013 the position will be reassessed.The balance due to UAB Ukio Banko Investicine Grupe is secured by a standard security over Tynecastle stadium and a floating charge across the company's assets. If UBIG were to demand repayment of the full amount, the Company would be insolvent and would face liquidation.

[--------]

have fun haha
http://www.hmfckickback.co.uk/index.php?/topic/119584-hearts-to-face-revenue-customs-in-tribunal-over-175m-tax-bill/



The poor wee souls are quite upset, aren't they? :devil:

Be nice if HMRC decided to put them into admin and start selling the assets.

[GoldenEagle]

Heart of Midlothian are finished at the end of this season should they even survive that long, as per their own share prospectus quoted above.

[SteveHFC]

We're having a party when Hearts die :thumbsup:

[cabbageandribs1875]

A certain SFA official had his fingers in a yam pie as well as the club formerly known as rangers



and considering his lofty position, we don't hear much from him nowadays huh, maybe he's on garden leave

[Sergey]

Reading Kickback....they know full and well that their ***ored.

Where's Shaun Lawson when you need him?

****in' poof!

GIRFUY

[Kato]

• As at the 30th of June 2011 the amount due to the parent company, UAB Ukio Banko Investicine Grupe, was £22,413,000, which amount bears interest at 4.5%.UAB Ukio Banko Investicine Grupe have confirmed to the Directors of Heart of Midlothian plc. that they will not seek repayment of this amount during season 2012/2013 and at the 1st July 2013 the position will be reassessed.The balance due to UAB Ukio Banko Investicine Grupe is secured by a standard security over Tynecastle stadium and a floating charge across the company's assets. If UBIG were to demand repayment of the full amount, the Company would be insolvent and would face liquidation.

The term "caught by the short and curlies" springs to mind.

The shape of Vlad's end-game becoming apparent.

Might be the last ever season of football at the Pink Bus Shelter.

Toot Toot !!!

[Www1875hfc]

A certain SFA official had his fingers in a yam pie as well as the club formerly known as rangers

Yup, and when Mr.Ogilvie arrived at HOMOFC he said of the EBT's, this is how we done it at Rangers. :agree:

Karma is a great thing.

[Kato]

have fun haha
http://www.hmfckickback.co.uk/index.php?/topic/119584-hearts-to-face-revenue-customs-in-tribunal-over-175m-tax-bill/


Brilliant cheers.

This is a cracker from Jammy T We as a group of fans dont have the means or the focus to rescue the club.

Says it all.

[jonty]

http://www.hibs.net/uploads/ShareScanHibsLLP.jpg

hibs.net - owning your ass since 2012

[iwasthere1972]

7 Million of your finest pounds in salaries a year. Well I knew it was high but that's absolutely bonkers.

So nearly £600K to find in three weeks time for wages alone. One big jumble sale should do it because they ain't going to be taken much at the Pinkie Gates over the next few weeks.

They're well and truly doomed this time.

Brilliant.

4-0 for the Mighty Hibees and the Yams going down the pan. Well I can safely say that the last time I felt this good is when I bundled the missus into a :taxi along with her belongings and :bye: her goodbye. Couldn't resist a :giruy: for good measure.

[matty_f]

This is a source of mild amusement for me.

[CraigHibee]

Is the stadium still owned by the club?


it is for the moment, although historic scotland will soon be the owners for the main stand

[--------]

it is for the moment, although historic scotland will soon be the owners for the main stand


Don't think so - more like these guys: http://www.forthdemolition.com (http://www.forthdemolition.com/index.php)

http://www.forthdemolition.com/images/jobs/saltcoates-steading-gullane/saltcoates-steading-gullane-1.jpg


They might do them a special offer - the place is half-way fallen down already.
(http://www.forthdemolition.com/)

[cocopops1875]

The poor wee souls are quite upset, aren't they? :devil:

Be nice if HMRC decided to put them into admin and start selling the assets.

Aye they seem to have taken this one quite badly :greengrin nobody has even mentioned Rudolphs Dundee Utd Squad Number :greengrin

[--------]

Aye they seem to have taken this one quite badly :greengrin nobody has even mentioned Rudolphs Dundee Utd Squad Number :greengrin


51? Houston's as pathetic as the rest of them.

Wouldn't it be funny if it turned out some of their contracts last season were illegal?

If they're gonnae take trophies off Oldco ... :devil:

[Fantic]

Hibs win 4-0 and the looks like Hearts are finally going to get what they deserve.
Big Havana for me the night :thumbsup::cb

[Ryan91]

http://www.hibs.net/uploads/ShareScanHibsLLP.jpg

hibs.net - owning your ass since 2012

:faf::faf::faf:

:lolyam:
:lolyam:
:lolyam:

That is absolutely f-ing Brilliant!

[greenginger]

51? Houston's as pathetic as the rest of them.

Wouldn't it be funny if it turned out some of their contracts last season were illegal?

If they're gonnae take trophies off Oldco ... :devil:


Yep, he could always change his shirt number to 0 3 . :greengrin

[cocopops1875]

51? Houston's as pathetic as the rest of them.

Wouldn't it be funny if it turned out some of their contracts last season were illegal?

If they're gonnae take trophies off Oldco ... :devil:

was meaning on kickback this morning they were Greetin their eyes out that he couldnt sign (coz their club is goosed) but seemed to cheer themselves up Knowing about his chosen squad number, Fast forward 12 hours and they are greetin their eyes out (coz their club is goosed) but no mention of his squad number. Go on one of our undercover agents give them a wee thrill and mention it :greengrin

[cocopops1875]

Reading Kickback....they know full and well that their ***ored.

Where's Shaun Lawson when you need him?

****in' poof!

GIRFUY

im sure he posted on it mate :agree: Still a welt it appears too reckons hmrc have got it wrong

[machibby]

I feel really sorry for the jambos and feel we should do the right thing in the spirit of good neighbours by offer to buy Hearts and unite the city!!

[Pete]

I thought £1.5 million was pocket change to romanov. The worrying thing for hearts must be the fact that he could make all this go away if he wanted to. This tax bill, the late wages carry on, the lot.

You cant be a big team if you cant afford it.

[Pretty Boy]

We have to get a big Hibs top with HMRC on it like the Celtic one from last year for the January 3rd game.

[green glory]

Had a look on Brokeback. To be fair to them, unlike the Sevco orcs the Maroonsevco inbreds can actually see what's happening.

I pity you.

[#FromTheCapital]

Is anyone else a bit gutted that we'll be losing our rivals and any derby fixtures???...... Na me neither, get it up ye ya cheating *******s

[Sir David Gray]

We have to get a big Hibs top with HMRC on it like the Celtic one from last year for the January 3rd game.

Rather than just copying Celtic, could we maybe arrange for a giant banner with "Ohhh the Hibees get paaaaid!" on it and then a picture under it with someone in a green shirt throwing paper notes in the air and then someone in a maroon shirt sitting down on a pavement with a begging bowl at their feet?

That's just a thought, I'm sure some of our more creative members could develop that and make it a bit more exciting.

That would be absolutely class if we could get this done for the derby. :aok:

Could it be organised within the next 2 months?

[monktonharp]

one of our guys, on the bus home from M'well last night drew my attention to something that may be in the herald newspaper today. this fellow hibby, actually works for the herald and clicked on to something on his fancy phone re-taxes due from that Gorgie mob. the tax man is going for approx. 1.75m gps, and it relates to the fact that several players at Tynie were actually paid through a club overseas in some suspicious circumstances....eg:Kaunus. this cant be happening, surely? have they not had enough punishment.............unable to sign players until 23rd Dec./?:rolleyes:

[Kato]

Nope, haven't heard a dickie about that one?

Hearts? Avoid taxes? That would never happen.

[monktonharp]

never said they had avoided taxes, maybe they are just due to pay them:wink:

[cabbageandribs1875]

or, a big cartoon with 400,000 pinkoids standing in line, bent over, with vlad the impaler running around with his...ermmm impaler, ready to do nawty things to the pinkoids erky's :dunno: it's been played out in reality after all so let's have cartoons depicting them taking this common occurrence, could have one of those speech bubble things for vlads mouth and have something like.... "give....and ye shall receive" in the bubble :dunno: just an idea

[Kato]

never said they had avoided taxes, maybe they are just due to pay them:wink:

I'm only being dry mate.

Here

http://www.hibs.net/showthread.php?247788-More-financial-problems-%28merged%29/page7

From a wee bit back up the page, post 697.

and here

http://www.bbc.co.uk/sport/0/football/20105317

[Aldo]

Read the threads though... Most are still delusional and have their heads buried deep in the sand.... No one wants to invest in them so they turn to the fans. They need 1.7 million just to make it to the end of the season.

Fingers crossed they are forced to pay and have no dosh.

Then they can't afford wages and HMRC place them in administration.

Min 10 point deduction?? Possibility of them being liquidated.

Now if Carlsberg made events like that....

[HoboHarry]

Read the threads though... Most are still delusional and have their heads buried deep in the sand.... No one wants to invest in them so they turn to the fans. They need 1.7 million just to make it to the end of the season.

Fingers crossed they are forced to pay and have no dosh.

Then they can't afford wages and HMRC place them in administration.

Min 10 point deduction?? Possibility of them being liquidated.

Now if Carlsberg made events like that....
When the end comes, and it will, I think they will simply shut the doors without ever going through administration. I don't for one minute believe that Vlad would ever let anyone see the books.

[Jack Hackett]

I fail to see why you all find this so funny. Vladimir Romanov is a genuine Lithuanian/Russian philanthropist, who has loved and admired HoMFC since he first heard of them, oh, must be 8 years ago now.

He intends (eventually) to fund a team capable of winning the Champions League. A team full of World Cup Stars, the envy of every other team in Scotland. A team without debt, housed in a huge Stadium incorporating a Hotel and Conference Centre where 400,000 admirers from around the globe can congregate and worship at his feet.

His current woes are a mere blip, and it's surely only a matter of time before his dreams, and that of his followers are realized. When this day comes, you lot will be eating your words.

BELIEVE! :greengrin

[Hibrandenburg]

Good morning all, what a nice start to the day reading through this thread has been.

[BroxburnHibee]

Good morning all, what a nice start to the day reading through this thread has been.

Agreed :greengrin

[Lucius Apuleius]

Agreed :greengrin

Hear hear!

[Barney McGrew]

They need 1.7 million just to make it to the end of the season.

They need £1.7 million just to make it to the end of 2012

[robinp]

I fail to see why you all find this so funny. Vladimir Romanov is a genuine Lithuanian/Russian philanthropist, who has loved and admired HoMFC since he first heard of them, oh, must be 8 years ago now.

He intends (eventually) to fund a team capable of winning the Champions League. A team full of World Cup Stars, the envy of every other team in Scotland. A team without debt, housed in a huge Stadium incorporating a Hotel and Conference Centre where 400,000 admirers from around the globe can congregate and worship at his feet.

His current woes are a mere blip, and it's surely only a matter of time before his dreams, and that of his followers are realized. When this day comes, you lot will be eating your words.

BELIEVE! :greengrin

‎"Hearts will be champions of Europe in 10 years time" the majority shareholder tells the BBC's Frontline Scotland. "They will never lose 5-0 to Barcelona or Chelsea or any other club. I have said I will be the champion" - Vladimir Romanov, 30th November 2005

[jodjam]

Maybe one for the legal lads on here. Hertz have to be defended in court. What company in their right mind would take this on or is there guarantees that any company would be paid

[God Petrie]

Personally I find it disgraceful that the club who single handedly won two world wars is being pursued by HMRC.

[Golden Bear]

I fail to see why you all find this so funny. Vladimir Romanov is a genuine Lithuanian/Russian philanthropist, who has loved and admired HoMFC since he first heard of them, oh, must be 8 years ago now.

He intends (eventually) to fund a team capable of winning the Champions League. A team full of World Cup Stars, the envy of every other team in Scotland. A team without debt, housed in a huge Stadium incorporating a Hotel and Conference Centre where 400,000 admirers from around the globe can congregate and worship at his feet.

His current woes are a mere blip, and it's surely only a matter of time before his dreams, and that of his followers are realized. When this day comes, you lot will be eating your words.

BELIEVE! :greengrin

Even his stamp collection will not save him and his tinpot club on this occasion.

:wink:

[grunt]

The share document makes pretty stark reading.They haven't held back on any of the risks.Too many to quote here, but this one just about sums up the tone of the document:"Although the Directors will seek to minimise the impact of the Risk Factors, investment in the Company should only be made by investors able to sustain a total loss of their investment".

[Treadstone]

Some share issue bullet points :

• The Company's balance sheet is negative and the Company would be insolvent (on the basis of being unable to pay its debts as they fall due) without the ongoing support of UBIG or alternative funding. Whilst the Company has short-term comfort from UBIG that it will not call up its debt, there is no guarantee that UBIG will not do so in the future, although the Board takes comfort from the fact that UBIG has supported the Club from 2006 to date by funding and debt restructuring.

• As at the 30th of June 2011 the amount due to the parent company, UAB Ukio Banko Investicine Grupe, was £22,413,000, which amount bears interest at 4.5%.UAB Ukio Banko Investicine Grupe have confirmed to the Directors of Heart of Midlothian plc. that they will not seek repayment of this amount during season 2012/2013 and at the 1st July 2013 the position will be reassessed.The balance due to UAB Ukio Banko Investicine Grupe is secured by a standard security over Tynecastle stadium and a floating charge across the company's assets. If UBIG were to demand repayment of the full amount, the Company would be insolvent and would face liquidation.

• Whilst UBIG has expressed a current intention to explore the possibility of allowing the club's supporters the opportunity to acquire over time a majority stake in the Company's share capital and has positioned the current offer as the first step towards that possibility, there is no commitment on the part of UBIG to continue with this current intention and the Company's debt levels are such that further debt capitalisations may be required in the future, which would have the effect of significantly diluting the other shareholders' interests in the Company. For so long as UBIG owns or controls more than 75% of the Company's share capital, it will be able to pass the resolutions required to effect any such debt capitalisation.

• Assuming the Club is successful in relation to the HMRC case referred to above, the offer, if fully subscribed, should provide the Club with sufficient working capital to achieve its goals for the 2012/2013 season without requiring additional funding. However, if the HMRC case goes against the Club and/or the offer is not fully subscribed, the Club may have insufficient working capital to achieve its goals for the 2012/2013 season and may have to seek additional sources of funding.

[Bostonhibby]

Reading Kickback....they know full and well that their ***ored.

Where's Shaun Lawson when you need him?

****in' poof!

GIRFUY

Wee Shaun's ma will have tucked him up in bed several hours ago but once he has got up, had his boiled egg soldiers and his ma's combed his hair he is certain to be using all his usual verbosity and general standing amongst the Yam community to organise a campaign to save his beloved club, he is after all a true giant amongst them.

Even now he has formed a committee of himself, his teddy bear and his pet rabbit. They are meeting Lord Foulkes to sort it all out tomorrow. Shaun is going to bring his pencil case and his pocket money.

[Bostonhibby]

**** it, what a lovely morning it is, here's a few photos of the sort of people who are going to rally round and save them.

[poolman]

Still commited to a new super-dooper stadium tho :faf:

Stadium development 26.10.2012
The Directors of Hearts are committed to the development of a state-of-the-art football stadium befitting of a top European club.
The Directors consider that regular qualification by the team for European competitions is very important to the future of the club. In addition the Directors believe that developing a larger stadium with purpose-built facilities to meet the modern day supporter's expectations is key to the club's development.
Presently, while no decision has been made to leave Tynecastle, the club is investigating opportunities that could provide a viable alternative to Hearts' current home. Following consultation with supporters
ently developing a plan which is designed to provide Hearts with a secure and modern football home for generations to come. The current plans for a new stadium are based on a new facility with a capacity between 20,000 and 30,000 on the west side of Edinburgh and within a short distance from the existing Tynecastle. Regular consultation will be maintained with all stakeholders including shareholders and supporters prior to any decision being taken.
The proceeds of this share offer will not contribute directly to this ongoing work, however it is an important strategic aim of the current Board and is seen as a valuable opportunity in the long-term development and ultimate value of the business.


:rolleyes:

[YehButNoBut]

They need £1.7 million just to make it to the end of 2012

That amount is only around 3 months wages, would their wage bill alone not be around £5 million until the end of next May.

Where is the rest coming from? :yw:

[Treadstone]

This was not today , I repeat this was not today .


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

[Mikey]

Maybe one for the legal lads on here. Hertz have to be defended in court. What company in their right mind would take this on or is there guarantees that any company would be paid

It'll be along the lines of a "no win, no fee" arrangement, except it'll just be the "no fee" bit :greengrin

[english_hibee]

Still commited to a new super-dooper stadium tho :faf:

Stadium development

26.10.2012
The Directors of Hearts are committed to the development of a state-of-the-art football stadium befitting of a top European club.
The Directors consider that regular qualification by the team for European competitions is very important to the future of the club. In addition the Directors believe that developing a larger stadium with purpose-built facilities to meet the modern day supporter's expectations is key to the club's development.
Presently, while no decision has been made to leave Tynecastle, the club is investigating opportunities that could provide a viable alternative to Hearts' current home. Following consultation with supporters
ently developing a plan which is designed to provide Hearts with a secure and modern football home for generations to come. The current plans for a new stadium are based on a new facility with a capacity between 20,000 and 30,000 on the west side of Edinburgh and within a short distance from the existing Tynecastle. Regular consultation will be maintained with all stakeholders including shareholders and supporters prior to any decision being taken.
The proceeds of this share offer will not contribute directly to this ongoing work, however it is an important strategic aim of the current Board and is seen as a valuable opportunity in the long-term development and ultimate value of the business.


:rolleyes:



Oh my goodness, just when you thought they couldn't shock again - I'm actually beginning to feel a little (very little) bit sorry for the fans who are clearly having the p**h ripped out of them.

"we need help to get through to the end of the season, you fans have a wonderful opportunity to own a part of your club, get yer wallets out".......... "Oh sorry, didnt we mention before? The money you give us will go to paying a tax bill that we couldn't be bothered paying before"..........."Chances are your investment will go up the swanny, but thats the risk you take".........."But we're still committed to our soopa doopa s****y new envy of every club in europe stadium, despite not being able to afford to get the current one up to code with regards safety/facilities"..........

The club are showing such a gross disrespect to the supporters with every new press release/article, that as i said, I'm beginning to pity them!

[Golden Bear]

Oh my goodness, just when you thought they couldn't shock again - I'm actually beginning to feel a little (very little) bit sorry for the fans who are clearly having the p**h ripped out of them.

"we need help to get through to the end of the season, you fans have a wonderful opportunity to own a part of your club, get yer wallets out".......... "Oh sorry, didnt we mention before? The money you give us will go to paying a tax bill that we couldn't be bothered paying before"..........."Chances are your investment will go up the swanny, but thats the risk you take".........."But we're still committed to our soopa doopa s****y new envy of every club in europe stadium, despite not being able to afford to get the current one up to code with regards safety/facilities"..........

The club are showing such a gross disrespect to the supporters with every new press release/article, that as i said, I'm beginning to pity them!

Steady now.

:wink: