Share Transfers Agreed/Cooling off period

[Saorsa]

Never a truer word spoken, Robert.

Even though they might make the seasons end, albeit with the prospect of administration looming, they've still to get last years accounts signed off and the auditors have to acknowledge that they are a viable trading concern. That's when it could get very messy as by their own admission, UBIG aren't funding them and they're 'on there own' financially.

The SPL/SFL have procedures in place that demands that participating clubs have the collateral to see them through to the seasons end. There is no guarantee that Yams will even make it to the seasons start, let alone its end.

This isn't wishful thinking and/or hobonomics - it's a simple statement of fact.

Isn't their AGM meant to be at the end of this month? That should be a hoot, or whatever noise ostriches make!I wonder if there'll be wild scenes like this outside at the next AGM :greengrin


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



:faf:


or any Russian hat kicking :greengrin

http://i19.photobucket.com/albums/b168/jamie1971/hatkickers.jpg

[rcarter1]

I think it's a matter of steps. We were already able to start doing so when:

1) Vlad said he's unable to support them and they have to 'pay their way' - check
2) UKIOS collapsed - check

The next ones will be a mess of sold assets, fines, dispute about club ownership, possible admin, liquidation etc. It won't be long now. The difference between this and our previous wishing is that this time there really is no money, funny or otherwise, coming into the club and and owner who needs to dispose of all bad assets.

I agree with the major battle having been won - ie they can no longer rely on outside funds to finance their jambotery.

It would be nice to see them implode properly (although I do reside in the 'hope they come back on their knees' camp).
I can not yet see a guaranteed route to this outcome.

For me the real pay back - in the eyes of many of both of our supporters will happen on the pitch. The day we wallop them out the park on the pitch, is the day I will believe their flash harry billy big baws days are over.

[MSK]

I wonder if there'll be wild scenes like this outside at the next AGM :greengrin


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



:faf:


or any Russian hat kicking :greengrin

http://i19.photobucket.com/albums/b168/jamie1971/hatkickers.jpgOr ..9422 ..a cake fight ...

[Saorsa]

Or ..9422 ..a cake fight ...:greengrin

[#FromTheCapital]

I wonder if there'll be wild scenes like this outside at the next AGM :greengrin


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



:faf:


or any Russian hat kicking :greengrin

http://i19.photobucket.com/albums/b168/jamie1971/hatkickers.jpg

That clip gets me every time, an all time classic.

[Onion]

I think it's a matter of steps. We were already able to start doing so when:

1) Vlad said he's unable to support them and they have to 'pay their way' - check
2) UKIOS collapsed - check

The next ones will be a mess of sold assets, fines, dispute about club ownership, possible admin, liquidation etc. It won't be long now. The difference between this and our previous wishing is that this time there really is no money, funny or otherwise, coming into the club and and owner who needs to dispose of all bad assets.

Then it's Edinburgh Council to the rescue. Vlad is playing a canny game here. He knows full well that the EDC will not let Hearts go tot the wall.

If we think we were cheated yesterday with the Huns, wait until the Wee Huns get bailed out with our money :cb

[cocopops1875]

Then it's Edinburgh Council to the rescue. Vlad is playing a canny game here. He knows full well that the EDC will not let Hearts go tot the wall.

If we think we were cheated yesterday with the Huns, wait until the Wee Huns get bailed out with our money :cb

:faf: Amazing Chat i gather you must be :drunk: or have spent all day:smokin

[Dashing Bob S]

Then it's Edinburgh Council to the rescue. Vlad is playing a canny game here. He knows full well that the EDC will not let Hearts go tot the wall.

If we think we were cheated yesterday with the Huns, wait until the Wee Huns get bailed out with our money :cb

The reality is that the council just don't have the means to help Hearts, or anybody else right now.

[jgl07]

The reality is that the council just don't have the means to help Hearts, or anybody else right now.

Besides this Jambo council nonesense is 15 years out of date. It was the now abolished Lothian Regional Council that was pro-Jambo anyway with Milligan ruling the roost.

Vlad was trying to get the City of Edinburgh Council to build Hearts a new ground for some time and got nowhere. The only Jambos I can thik of are Cardownie ad Milligan.

[SMAXXA]

I wonder if there'll be wild scenes like this outside at the next AGM :greengrin


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



:faf:


or any Russian hat kicking :greengrin

http://i19.photobucket.com/albums/b168/jamie1971/hatkickers.jpg

Never get tired of watching that clip :faf:


They should have taken an entry fee for that bout, rummble in the jungle has nothing on a slap in the *****hole.........hmm that almost sound erotic :greengrin

[Sergey]

The reality is that the council just don't have the means to help Hearts, or anybody else right now.

Bob - check your email :wink:

[Mikey]

The reality is that the council just don't have the means to help Hearts, or anybody else right now.

Well if hertz paid their council bills............

:lurksub:

[Kato]

The only Jambos I can thik of are Cardownie ad Milligan.

The lot of them can thik of as far as I'm concerned.

[CyberSauzee]

I'll be delighted if/when it actually happens but I really don't see the point in setting ourselves up for yet another big disappointment.

The difference this time is that a part of Vlad's flimsy house of cards has collapsed. We no longer hear: "we don't have any debt as you can't owe the money to yourselves". The reality now is that the Yams, via their parent company, do owe someone a massive amount of money.

And worse for them, it's completely out of their control. As far more knowledgeable persons on this forum have opinioned, they are technically insolvent, having not enough cash flow to fund day to day business functions.

If Private Fraser was a Yam I know what he'd be saying now...

[Kato]

The difference this time is that a part of Vlad's flimsy house of cards has collapsed.

Don't let him fool you. "Driving a taxi" is launderer's code for "fetch the submarine".

"I'll maybe be an electrician" ='s "I've wired my skim to a secret base off the Caucasus Mountains."

He's only dropped out of sight to grow a waxed moustache and design uniforms for his henchmen. He'll be back.

[TrickyNicky]

Or ..9422 ..a cake fight ...

9425

Photos from the Hearts AGM

[degenerated]

Besides this Jambo council nonesense is 15 years out of date. It was the now abolished Lothian Regional Council that was pro-Jambo anyway with Milligan ruling the roost.

Vlad was trying to get the City of Edinburgh Council to build Hearts a new ground for some time and got nowhere. The only Jambos I can thik of are Cardownie ad Milligan.

Have a look at the councils register of interests and you'll see more than a few jamtards among them, a number of whom enjoy getting their snout in trough at the piggery.

[rcarter1]

The difference this time is that a part of Vlad's flimsy house of cards has collapsed. We no longer hear: "we don't have any debt as you can't owe the money to yourselves". The reality now is that the Yams, via their parent company, do owe someone a massive amount of money.

And worse for them, it's completely out of their control. As far more knowledgeable persons on this forum have opinioned, they are technically insolvent, having not enough cash flow to fund day to day business functions.

If Private Fraser was a Yam I know what he'd be saying now...

But are Hearts in debt? Or is the parent company about to be swallowed leaving Hearts on its own? The legal situation is hardly clear.

[CropleyWasGod]

But are Hearts in debt? Or is the parent company about to be swallowed leaving Hearts on its own? The legal situation is hardly clear.

Hearts are very much in debt The exact number isn't known, but I would say somewhere around £24m would clear it.

[RyeSloan]

Hearts are very much in debt The exact number isn't known, but I would say somewhere around £24m would clear it.

Or as much as you could get for liquidising all the assets of the company....

[Kato]

UKIO BANKAS FAQ dated today. Money laundering is the top question.

http://translate.google.co.uk/translate?hl=en&sl=lt&u=http://www.ub.lt/lt/articles/articles/view/1592/informacija-buvusiems-ukio-banko-klientams-nerezidentams&prev=/search%3Fq%3Dukio%2Bbankas%26hl%3Den%26sa%3DX%26bi w%3D1052%26bih%3D541%26tbs%3Dqdr:d&sa=X&ei=Zk8xUZvWIaua0QWexoDIAQ&ved=0CFMQ7gEwAw

[The Green Goblin]

If Private Fraser was a Yam I know what he'd be saying now...

:greengrin.

Indeed. It could also be a Corporal Jones moment...

[Gus Fring]

Did we find out yesterday if they ended up in the Good or Bad pile?

[JoeTortolanoFanClub]

UKIO BANKAS FAQ dated today. Money laundering is the top question.

http://translate.google.co.uk/translate?hl=en&sl=lt&u=http://www.ub.lt/lt/articles/articles/view/1592/informacija-buvusiems-ukio-banko-klientams-nerezidentams&prev=/search%3Fq%3Dukio%2Bbankas%26hl%3Den%26sa%3DX%26bi w%3D1052%26bih%3D541%26tbs%3Dqdr:d&sa=X&ei=Zk8xUZvWIaua0QWexoDIAQ&ved=0CFMQ7gEwAw

Sorry to disappoint you, but you are reading too much into that (and the google translate is not very accurate either). What this is is just standard procedure advising non-residents of Lithuania what documents they are required to present for any money they have in Ukio Bankas accounts to be transferred to new Siauliu bank accounts.

[Kato]

Sorry to disappoint you, but you are reading too much into that (and the google translate is not very accurate either). What this is is just standard procedure advising non-residents of Lithuania what documents they are required to present for any money they have in Ukio Bankas accounts to be transferred to new Siauliu bank accounts.

I never read anything into it at all. Not really one for speculating. Was emailed that link at thought it was a giggle. Zero disappointment here. :cb

[Col2]

Not a single thread about financial ruin or consequences of what is happening in Lithuania, incredible. They have one single thread about Vlad being down to his last Lita but its laughted off as Vlad playing the press.

[Jack Hackett]

Not a single thread about financial ruin or consequences of what is happening in Lithuania, incredible. They have one single thread about Vlad being down to his last Lita but its laughted off as Vlad playing the press.

How many times do you have to be told? #allisbarry :hide:

[Www1875hfc]

Not a single thread about financial ruin or consequences of what is happening in Lithuania, incredible. They have one single thread about Vlad being down to his last Lita but its laughted off as Vlad playing the press.

Picked up this beauty from over the road, posted by Le Chat ? Made me laugh anyways. :greengrin

Kinda wish we'd only taken 12,000 tickets for the cup final.

Some folk just don't deserve to share the good days when they can't be arsed turning up on the bad days.

The club's on a ******g life-support machine yet thousands only turn up when they can be arsed. Sickening.

They deserve every little thing thats coming, him and that tw@t Craigieboy.

[Ozyhibby]

Not a single thread about financial ruin or consequences of what is happening in Lithuania, incredible. They have one single thread about Vlad being down to his last Lita but its laughted off as Vlad playing the press.

So long as McGlynn is away and they play 4-4-2 then 'All is Barry'.

[JollyGreenGiant]

Not a single thread about financial ruin or consequences of what is happening in Lithuania, incredible. They have one single thread about Vlad being down to his last Lita but its laughted off as Vlad playing the press.


Had the misfortune to overhear a couple of yams chatting today about how they can't wait for the season to finish, so they can get rid of Romanov, get a new manager in (maybe Robbo), hopefully win the wee cup and start re-building for next season. :ostrich:

All is Barry :na na:

[lord bunberry]

Had the misfortune to overhear a couple of yams chatting today about how they can't wait for the season to finish, so they can get rid of Romanov, get a new manager in (maybe Robbo), hopefully win the wee cup and start re-building for next season. :ostrich:

All is Barry :na na:

You can understand why they would want wee robbo back, he was such a success last time with much better players

[Zazu62]

Absolute shambles of a football club

[blackpoolhibs]

I listened to radio scotland during the week, and someone was going on about how hertz were a great scottish institution, i'd not heard that used since the great days of sevco.

I cant wait for the day they join the other great institution down the plug hole, D3 might not even be an option for them? :yw:

[Hibeesforever]

Not a single thread about financial ruin or consequences of what is happening in Lithuania, incredible. They have one single thread about Vlad being down to his last Lita but its laughted off as Vlad playing the press.

Unsurprising, they are now true mini zombies that see the future as just too hard to worry about. I am trying not to lower myself to be bothered about them either but it is hard. The memories of the late Wallace Mercer mean I cannot do that.

If true, goodness only knows what Mr Blatter thought being hosted in an asbestos ridden main stand today.
From the Balmoral to Tynecastle, I am sure the surroundings were underwhelming.
Unless, of course, he was maybe there to highlight a club that symbolises everything that is wrong with football corporate governance.

[truehibernian]

Unsurprising, they are now true mini zombies that see the future as just too hard to worry about. I am trying not to lower myself to be bothered about them either but it is hard. The memories of the late Wallace Mercer mean I cannot do that.

If true, goodness only knows what Mr Blatter thought being hosted in an asbestos ridden main stand today.
From the Balmoral to Tynecastle, I am sure the surroundings were underwhelming.
Unless, of course, he was maybe there to highlight a club that symbolises everything that is wrong with football corporate governance.

He failed to attend - had a more pressing engagement apparently :agree:

[fat freddy]

He failed to attend - had a more pressing engagement apparently :agree:

On the approach to Tynecastle he ordered his driver to keep going as he saw the state of the stadium he was meant to be sitting in...last seen getting out of his limo at Krispy Kremes Doughnuts at Hermiston Gate...left with a 10 pound variety box after queueing for 3 hours surrounded by loads of overweight chavs..

[WindyMiller]

https://encrypted-tbn1.gstatic.com/images?q=tbn:ANd9GcSRINrgjYxou74sQEmDl-j_cRzG1YHbAADjPtarV_JF0UEaiax9Fw

[nonshinyfinish]

Hang on, are Hearts in some kind of financial difficulty? You'd think that would have come up before.

[cocopops1875]

Hang on, are Hearts in some kind of financial difficulty? You'd think that would have come up before.

Na Mate "All Is Barry" :thumbsup:

[nonshinyfinish]

Na Mate "All Is Barry" :thumbsup:

Well that's a big relief.

[Sergey]

Hang on, are Hearts in some kind of financial difficulty? You'd think that would have come up before.

Remember their old adage 'we're different - we owe the debt to ourselves'?

Not heard that one trumpeted for a while, eh!

[nonshinyfinish]

Remember their old adage 'we're different - we owe the debt to ourselves'?

Not heard that one trumpeted for a while, eh!

So the scales are falling from their eyes?

Shame they're stuck with the webbed fingers...

[clerriehibs]

Remember their old adage 'we're different - we owe the debt to ourselves'?

Not heard that one trumpeted for a while, eh!

They still don't think they have any debt; just no money.

[EdinMike]

Apparently the Final tickets are going on public sale...

Will there be masses forming upon Gorgie ?! And will it stop me getting to work !?

No. The answer is probably no.

http://www.heartsfc.co.uk/articles/20130302/league-cup-final-tickets-go-to-general-sale_2241384_3095066

[Dashing Bob S]

He's an old Hearts song for the nostalgic, one you just don't hear so much these days.

http://www.youtube.com/watch?v=of9U3aGUyvU&noredirect=1

[Sanger]

See below about seizure of Romamov's assets through bankruptcy proceedings including Scottish property. Lithuanian insurance rescue fund has a $500 million hole to fill to make depositors whole. They borrowed on international markets to fund whole and will try and recoup money by any means necessary. UB lends to UBIG who lend to Hearts. Not a difficult structure to uncover. Effectively Hearts seen as one of Romanov's assets which will be seized by Lithuanian state.



Lithuanian Siauliu Bankas Agrees to Assume Insolvent Ukio Assets

Siauliu Bankas AB (SAB1L), the Lithuanian lender part-owned by the European Bank for Reconstruction and Development, will assume the insured deposits of insolvent Ukio Bankas AB (UKB1L) in a deal that will almost double its size.

Siauliu will take over 2.7 billion litai ($1 billion) of Ukio deposits and assets of the same value, according to a contract signed last night with Ukio’s administrator and the state deposit-insurance fund, the Siauliai, Lithuania-based lender said in an e-mailed statement. The EBRD will grant Siauliu a 20 million-euro ($26 million) 10-year subordinated loan to strengthen its capital base for the expansion, it said.

Siauliu, which had assets of 2.9 billion litai on Dec. 31, will overtake Danske Bank A/S to become Lithuania’s fifth- largest bank by assets, after local units of Nordic lenders SEB AB, Swedbank AB, DNB ASA and Nordea Bank AB. The transaction will reduce payouts from the Baltic nation’s deposit insurer to 800 million litai, which the government plans to lend the fund.

“The achieved agreement will result in new and bigger possibilities of growth for our bank’s clientele, staff and shareholders, while the entire banking system in Lithuania will become stronger and even more competitive,” Siauliu Chairman Algirdas Butkus said in the statement.

Renewing Services

The contract, which the Lithuanian government and central bank supported, obliges Siauliu “to renew banking services for the customers of Ukio Bankas in the shortest time possible,” the Bank of Lithuania said in a separate e-mailed statement.

The Bank of Lithuania suspended Ukio’s activities Feb. 12 and appointed an administrator, saying the lender was insolvent after risky lending to related companies. Just over a year after the collapse of Snoras Bankas AB, the government was eager to avoid another bankruptcy that would test the state deposit- insurance fund.

The agreement “has ensured stability in the sector,” Sylvia Gansser-Potts, the EBRD director for financial institutions, said in an e-mailed statement.

The preliminary value of the assets transferred to Siauliu, determined by auditor KPMG Baltic, may be revised in three months after a more detailed assessment, in which case the liabilities of the parties to the contract will also be revised, the central bank said.

Bankruptcy proceedings are planned to recover remaining assets of Ukio, including property in Scotland and elsewhere, for creditors, among whom the deposit-insurance fund will be the largest, according to the Bank of Lithuania.

The EBRD owns 19.6 percent of Siauliu, which after Ukio’s collapse is Lithuania’s only publicly traded bank. Siauliu shares rose 10 percent to 0.267 euro in Vilnius on Feb. 13, when the lender announced plans to negotiate for Ukio’s assets, and closed at that same level on Feb. 22.

To contact the reporter on this story: Bryan Bradley in Vilnius at bbradley13@bloomberg.net

To contact the editors responsible for this story: Dick Schumacher at dschumacher@bloomberg.net; Balazs Penz at bpenz@bloomberg.net

Find out more about Bloomberg for iPhone: http://m.bloomberg.com/iphone/


Sent from my iPhone

[bingo70]

See below about seizure of Romamov's assets through bankruptcy proceedings including Scottish property. Lithuanian insurance rescue fund has a $500 million hole to fill to make depositors whole. They borrowed on international markets to fund whole and will try and recoup money by any means necessary. UB lends to UBIG who lend to Hearts. Not a difficult structure to uncover. Effectively Hearts seen as one of Romanov's assets which will be seized by Lithuanian state.



Lithuanian Siauliu Bankas Agrees to Assume Insolvent Ukio Assets

Siauliu Bankas AB (SAB1L), the Lithuanian lender part-owned by the European Bank for Reconstruction and Development, will assume the insured deposits of insolvent Ukio Bankas AB (UKB1L) in a deal that will almost double its size.

Siauliu will take over 2.7 billion litai ($1 billion) of Ukio deposits and assets of the same value, according to a contract signed last night with Ukio’s administrator and the state deposit-insurance fund, the Siauliai, Lithuania-based lender said in an e-mailed statement. The EBRD will grant Siauliu a 20 million-euro ($26 million) 10-year subordinated loan to strengthen its capital base for the expansion, it said.

Siauliu, which had assets of 2.9 billion litai on Dec. 31, will overtake Danske Bank A/S to become Lithuania’s fifth- largest bank by assets, after local units of Nordic lenders SEB AB, Swedbank AB, DNB ASA and Nordea Bank AB. The transaction will reduce payouts from the Baltic nation’s deposit insurer to 800 million litai, which the government plans to lend the fund.

“The achieved agreement will result in new and bigger possibilities of growth for our bank’s clientele, staff and shareholders, while the entire banking system in Lithuania will become stronger and even more competitive,” Siauliu Chairman Algirdas Butkus said in the statement.

Renewing Services

The contract, which the Lithuanian government and central bank supported, obliges Siauliu “to renew banking services for the customers of Ukio Bankas in the shortest time possible,” the Bank of Lithuania said in a separate e-mailed statement.

The Bank of Lithuania suspended Ukio’s activities Feb. 12 and appointed an administrator, saying the lender was insolvent after risky lending to related companies. Just over a year after the collapse of Snoras Bankas AB, the government was eager to avoid another bankruptcy that would test the state deposit- insurance fund.

The agreement “has ensured stability in the sector,” Sylvia Gansser-Potts, the EBRD director for financial institutions, said in an e-mailed statement.

The preliminary value of the assets transferred to Siauliu, determined by auditor KPMG Baltic, may be revised in three months after a more detailed assessment, in which case the liabilities of the parties to the contract will also be revised, the central bank said.

Bankruptcy proceedings are planned to recover remaining assets of Ukio, including property in Scotland and elsewhere, for creditors, among whom the deposit-insurance fund will be the largest, according to the Bank of Lithuania.

The EBRD owns 19.6 percent of Siauliu, which after Ukio’s collapse is Lithuania’s only publicly traded bank. Siauliu shares rose 10 percent to 0.267 euro in Vilnius on Feb. 13, when the lender announced plans to negotiate for Ukio’s assets, and closed at that same level on Feb. 22.

To contact the reporter on this story: Bryan Bradley in Vilnius at bbradley13@bloomberg.net

To contact the editors responsible for this story: Dick Schumacher at dschumacher@bloomberg.net; Balazs Penz at bpenz@bloomberg.net

Find out more about Bloomberg for iPhone: http://m.bloomberg.com/iphone/


Sent from my iPhone

Will that include tynecastle even though hearts don't owe ukios anything?

[spike220]

Will that include tynecastle even though hearts don't owe ukios anything?

This s the clearest indication yet of where things are at. It cant be any clearer, this is the end game!

There is reasonable chance they will disapear off the face of the earth.

[Chuck Rhoades]

Hearts are going bust and we're know!

Mon the Hibees!

[bingo70]

This s the clearest indication yet of where things are at. It cant be any clearer, this is the end game!

There is reasonable chance they will disapear off the face of the earth.

Can they enforce the sale of tynie then?

My worry has always been someone hearts minded buys it and then just waits till they can buy the.club at a more reasonable price, considering the stadiums not fit for purpose though and they'd probably need to.move in a few years anyway I'm maybe worrying over nothing

[1two]

Picked up this beauty from over the road, posted by Le Chat ? Made me laugh anyways. :greengrin

Kinda wish we'd only taken 12,000 tickets for the cup final.

Some folk just don't deserve to share the good days when they can't be arsed turning up on the bad days.

The club's on a ******g life-support machine yet thousands only turn up when they can be arsed. Sickening.

They deserve every little thing thats coming, him and that tw@t Craigieboy.

You can guarantee Craigieboy is a 40 year old virgin who still stays with his ma.
90% of his posts are about us.

I don't even know why I look over there. It's pathetic.

[Niffy]

Ok, you're not allowed to make any banners. Lol

[weonlywon6-2]

This s the clearest indication yet of where things are at. It cant be any clearer, this is the end game!

There is reasonable chance they will disapear off the face of the earth.

It is a good article,especially this line

Bankruptcy proceedings are planned to recover remaining assets of Ukio, including property in Scotland and elsewhere, for creditors, among whom the deposit-insurance fund will be the largest, according to the Bank of Lithuania.


HMFC - GIRFUY:na na:

[I'm_cabbaged]

Ok, you're not allowed to make any banners. Lol

Undercover celtc fan? :)

[Dashing Bob S]

I must say it all looks rather splendid.

[StevieC]

Can they enforce the sale of tynie then?

My worry has always been someone hearts minded buys it and then just waits till they can buy the.club at a more reasonable price, considering the stadiums not fit for purpose though and they'd probably need to.move in a few years anyway I'm maybe worrying over nothing

I suspect that, like any loan secured against property, if you default on repayments then the property will be seized ... so it's pretty much "a given" that Tynecastle will be up for sale sometime soon.

[shagpile]

You can guarantee Craigieboy is a 40 year old virgin who still stays with his ma.
90% of his posts are about us.

I don't even know why I look over there. It's pathetic.

You're waiting for yer ma to make yer tea?:aok::greengrin

[ALF TUPPER]

Hearts are going bust and we're know!

Mon the Hibees!


Lovin the avatar Bouncer :tee hee:

[rcarter1]

I suspect that, like any loan secured against property, if you default on repayments then the property will be seized ... so it's pretty much "a given" that Tynecastle will be up for sale sometime soon.

If this is the case, the question is who will bid for the stadium? If I were a buyer for Tesco or another such organisation, I would consider carefully the level of animosity that would go with such a purchase. It will be very interesting in a slightly morbid way, to watch the developments unravel. Will Hearts emerge with a Tom Farmer?

[Eyrie]

In the inevitable event of administration, a supermarket or house builder could buy the land as a cheap investment and then rent it to Sevco Yams for a few years until they either buy it back at a premium (because the land value has risen) or alternatively find a new stadium elsewhere which would free up the land for a supermarket or housing.

Of course, having to find the annual rent on top of all their other costs would make it even harder for Sevco Yams to escape Division Three so this wouldn't be a complete disaster.

[PatHead]

Think we are all getting a wee bit excited about how much influence the yam support will have on any purchaser. I was visiting an office last week. At the end of the meeting a yam started spouting about how the council will build them a new stadium and all will be barry.

2 other people who have no interest in football at all really started laying into him about how schools were getting closed (Castlebrae had just been announced) and cut backs in the arts/sports funding are all over the place. Remember it is not only us who would be against it but the majority of Edinburgh Council Tax payers. In the current climate it would be political suicide for a stadium to be built.

Hearts best chance is to rent Murrayfield. Should have happened years ago when Robinson tried it and they would have been debt free but they sold their soul.

[green glory]

If this is the case, the question is who will bid for the stadium? If I were a buyer for Tesco or another such organisation, I would consider carefully the level of animosity that would go with such a purchase. It will be very interesting in a slightly morbid way, to watch the developments unravel. Will Hearts emerge with a Tom Farmer?

Someone will buy the landfill then sit on it for a year or so, the dust will settle and life will go on. I live near the Maybury roundabout but will gleefully go out of my way to shop at the new Tynecastle superstore.

[greenginger]

If this is the case, the question is who will bid for the stadium? If I were a buyer for Tesco or another such organisation, I would consider carefully the level of animosity that would go with such a purchase. It will be very interesting in a slightly morbid way, to watch the developments unravel. Will Hearts emerge with a Tom Farmer?


Or even with Tom Farmer, 3 times removed from the deal of course, with untraceable offshore funds and never mentioned. Buy the ground,offer to lease to the Yams, fail to agree a deal, leave ground vacant then demolish for future profitable re-sale.

Competitor crippled, allowing own asset ( Hibernian F C ) to grow in value.

When STF was plain TF he would be in with the corporate knife without a second thought. :thumbsup:

[rcarter1]

Or even with Tom Farmer, 3 times removed from the deal of course, with untraceable offshore funds and never mentioned. Buy the ground,offer to lease to the Yams, fail to agree a deal, leave ground vacant then demolish for future profitable re-sale.

Competitor crippled, allowing own asset ( Hibernian F C ) to grow in value.

When STF was plain TF he would be in with the corporate knife without a second thought. :thumbsup:

Thats down right creepy. :greengrin

[Caversham Green]

Can they enforce the sale of tynie then?

My worry has always been someone hearts minded buys it and then just waits till they can buy the.club at a more reasonable price, considering the stadiums not fit for purpose though and they'd probably need to.move in a few years anyway I'm maybe worrying over nothing

'Property' doesn't always mean land and buildings in accountancy-speak (or in normal people's English) it can just mean general assets. I don't know if that's the case in the article quoted, but I could see HoMFC being sold as a unit rather than being broken up. However, I reckon that as long as UBIG avoid insolvecy events, whoever is charged with collecting Ukio's debts will hold out for the full £6.8m (plus charges and interest) that is secured on HoMFC's assets because ultimately they have the choice of selling Tynie if UBIG don't stump up. That in turn means that UBIG can't sell HoMFC for less than that £6.8m+. It becomes a different picture when UBIG go bust though, because then it will be a case of getting as much as he can for all the assets available, which means he will sell either the club or its assets (they do have other assets such as that state-of-the-fart minibus that appears in one of our poster's avatar and a natty tie-and-tracksuit combo with only one previous owner) to the highest bidders.

If the highest bidders buy the club as a unit they will be getting a stadium that needs immediate attention, a massively diminished squad, no money in the bank and a £1.5m debt owed to HMRC - there's also a distinct possibility that they will be a SFL1 team since they would have suffered the 18 point deduction following UBIG's insolvency. They're not going to disappear, but they have many years of very hard times ahead of them IMHO.

[Saorsa]

Cannae be long now surely before http://sportstwo.com/images/smilies/characters/smiley-grim.gif comes calling.

Click here :greengrin (http://music.djmaza.com/music/WWE/Undertaker%20(Rest%20In%20Peace)%20[www.DJMaza.Com].mp3)

[Caversham Green]

Think we are all getting a wee bit excited about how much influence the yam support will have on any purchaser. I was visiting an office last week. At the end of the meeting a yam started spouting about how the council will build them a new stadium and all will be barry.

2 other people who have no interest in football at all really started laying into him about how schools were getting closed (Castlebrae had just been announced) and cut backs in the arts/sports funding are all over the place. Remember it is not only us who would be against it but the majority of Edinburgh Council Tax payers. In the current climate it would be political suicide for a stadium to be built.

Hearts best chance is to rent Murrayfield. Should have happened years ago when Robinson tried it and they would have been debt free but they sold their soul.

:agree: The bit in bold.

A move to a bigger better stadium (arguably the best in Scotland) a few hundred yards away from their current home - what a disaster. Their oh-so-loyal fans would have deserted them in droves and their team would have suddenly become constant lower league standard, all because the stadium was too big. Certainly the atmosphere would have suffered, but they could have taken steps to alleviate that and the facilities could well have attracted more fans.It's become a FACT through repetition that they would have withered and died if they'd followed the pieman's plan but without doubt they would be in better shape now if they had, and they might well have still won those two cups.

[Sanger]

UBIG is insolvent. Merely a holding company to wash loans from UB through to Romanov's "projects" . Now controlled by Lithuanian state to see if owns any assets that can be sold.

[grunt]

UBIG is insolvent. Merely a holding company to wash loans from UB through to Romanov's "projects" . Now controlled by Lithuanian state to see if owns any assets that can be sold.
Do you have evidence of this? ("Source?")

[Dashing Bob S]

'Property' doesn't always mean land and buildings in accountancy-speak (or in normal people's English) it can just mean general assets. I don't know if that's the case in the article quoted, but I could see HoMFC being sold as a unit rather than being broken up. However, I reckon that as long as UBIG avoid insolvecy events, whoever is charged with collecting Ukio's debts will hold out for the full £6.8m (plus charges and interest) that is secured on HoMFC's assets because ultimately they have the choice of selling Tynie if UBIG don't stump up. That in turn means that UBIG can't sell HoMFC for less than that £6.8m+. It becomes a different picture when UBIG go bust though, because then it will be a case of getting as much as he can for all the assets available, which means he will sell either the club or its assets (they do have other assets such as that state-of-the-fart minibus that appears in one of our poster's avatar and a natty tie-and-tracksuit combo with only one previous owner) to the highest bidders.

If the highest bidders buy the club as a unit they will be getting a stadium that needs immediate attention, a massively diminished squad, no money in the bank and a £1.5m debt owed to HMRC - there's also a distinct possibility that they will be a SFL1 team since they would have suffered the 18 point deduction following UBIG's insolvency. They're not going to disappear, but they have many years of very hard times ahead of them IMHO.

The fly in the ointment here could be the impending investigations into Vlad's businesses. Tracing where the money came from could go on for years, and might have very bad ramifications for Los Yambolinos.

[MrSmith]

The fly in the ointment here could be the impending investigations into Vlad's businesses. Tracing where the money came from could go on for years, and might have very bad ramifications for Los Yambolinos.

I'm not so sure. They can most definitely plead ignorance in this because of the board build - all liths. I don't think, other than Camp Og I suppose? Got close enough to the inner sanctum to know full implication or disclosures. However, we can give them it tight for as long as can be bothered!!

[Jack Hackett]

I'm not so sure. They can most definitely plead ignorance in this because of the board build - all liths. I don't think, other than Camp Og I suppose? Got close enough to the inner sanctum to know full implication or disclosures. However, we can give them it tight for as long as can be bothered!!

I agree. We can hardly accuse the yams of criminality. Stupidity and gullibility yes, but not direct involvement in the machinations of the Great Leader. They are only a football club, after all. If the finger needs to be pointed at anyone here, it should be our football authorities lack of due dliligence....'You own a bank and are worth squillions of quids?. Welcome to Scotland. Have a nice day'....at least up to the point where he started accusing them of being corrupt.

[Col2]

I agree. We can hardly accuse the yams of criminality. Stupidity and gullibility yes, but not direct involvement in the machinations of the Great Leader. They are only a football club, after all. If the finger needs to be pointed at anyone here, it should be our football authorities lack of due dliligence....'You own a bank and are worth squillions of quids?. Welcome to Scotland. Have a nice day'....at least up to the point where he started accusing them of being corrupt.

I don't agree. It it's proved that money transferred from HOMFC to Lithuania and back the way and it is is illegally gained, they could be implicated big time. Money Laundering rules can drag the so called innocent parties into being charged because of lack of controls, awareness etc etc.

[Sergey]

I don't agree. It it's proved that money transferred from HOMFC to Lithuania and back the way and it is is illegally gained, they could be implicated big time. Money Laundering rules can drag the so called innocent parties into being charged because of lack of controls, awareness etc etc.

And lest we forget who the alleged 'innocent parties are'. I cite Vladimir Roamnov - majority owner of said laundering bank and shareholder of UBIG...and Yam director, Sergey Fedotovas - Founder of UBIG and UBIG director.

They certainly can't play the 'lack of awareness' card as they're implicit, if not pivotal in the whole ruse.

[ScottB]

I can only imagine that Tynecastle will become flats or something else, within a few minutes walk of the area there is a giant Sainsbury's, 2 Lidl's, a Scotmid and the big Asda just a bit further away. I can't see a Tesco or a Morrisons being allowed into the area with that number of supermarkets already in play.

[MrSmith]

And lest we forget who the alleged 'innocent parties are'. I cite Vladimir Roamnov - majority owner of said laundering bank and shareholder of UBIG...and Yam director, Sergey Fedotovas - Founder of UBIG and UBIG director.

They certainly can't play the 'lack of awareness' card as they're implicit, if not pivotal in the whole ruse.

But that is what I'm suggesting Serg. Those two are up to their necks in it but 'Hearts people if you wish, could not get close enough to know what was going on. However, innocent they may be,the auditors will have some really sticky questions to answer!

Col2, get you re association and perceived innocence, but again, how many 'Hearts people' were allowed close enough to ascertain whether this was going on or not? None I would imagine, therefore, ignorance is bliss!

[Jack Hackett]

I don't agree. It it's proved that money transferred from HOMFC to Lithuania and back the way and it is is illegally gained, they could be implicated big time. Money Laundering rules can drag the so called innocent parties into being charged because of lack of controls, awareness etc etc.

On reflection, you're probably right. There was a news item the other night about unemployed/students being used as money mules through job ads which appeared legit. The gist of it being that the lack of awareness was no defence.

[hibee_nation]

But that is what I'm suggesting Serg. Those two are up to their necks in it but 'Hearts people if you wish, could not get close enough to know what was going on. However, innocent they may be,the auditors wil have some really sticky questions to answer!

Col2, ge you re associaion and perceived inocence, but again, how many 'Hearts people' were allowed close enough to ascertain whether this wa going on or not? None I would imagine, therfeore, ignorance is bliss!

Unfortunately for the yams, in the eyes of the law Romanov and Sergey Fedotovas are most definately Hearts people.

[Saorsa]

But that is what I'm suggesting Serg. Those two are up to their necks in it but 'Hearts people if you wish, could not get close enough to know what was going on. However, innocent they may be,the auditors wil have some really sticky questions to answer!

Col2, ge you re associaion and perceived inocence, but again, how many 'Hearts people' were allowed close enough to ascertain whether this wa going on or not? None I would imagine, therfeore, ignorance is bliss!Guilty by association, ignorance is nae excuse :agree:

take them down and wipe them out. :greengrin :thumbsup:

[#FromTheCapital]

I can only imagine that Tynecastle will become flats or something else, within a few minutes walk of the area there is a giant Sainsbury's, 2 Lidl's, a Scotmid and the big Asda just a bit further away. I can't see a Tesco or a Morrisons being allowed into the area with that number of supermarkets already in play.

Maybe they will just make it an extension to gorgie farm? It would save any cost involved in demolishing the stadium etc. For example that main stand would make an excellent cattle shed or stable

[MrSmith]

Guilty by association, ignorance is nae excuse :agree:

take them down and wipe them out. :greengrin :thumbsup:

I don't disagree but my feeling on this will be that the Lithuanian team running Hearts will be found guilty. Therefore, Hearts will be left untarnished but likely without a stadium and in the third division! Murrayfield and first division is ultra best case scenario ... not gonna happen!

From my slightly in/un/informed friend, Romanov rubbed up the SRU so badly that they flatly refuse to get involved with HOMFC in capacity never mind the future incumbents!

[Jack Hackett]

Maybe they will just make it an extension to gorgie farm? It would save any cost involved in demolishing the stadium etc. For example that main stand would make an excellent cattle shed or stable

Have you no respect for animal rights? That would be outright cruelty!

[MrSmith]

Maybe they will just make it an extension to gorgie farm? It would save any cost involved in demolishing the stadium etc. For example that main stand would make an excellent cattle shed or stable

Thought this was its current use??

[Killiehibbie]

But that is what I'm suggesting Serg. Those two are up to their necks in it but 'Hearts people if you wish, could not get close enough to know what was going on. However, innocent they may be,the auditors will have some really sticky questions to answer!

Col2, get you re association and perceived innocence, but again, how many 'Hearts people' were allowed close enough to ascertain whether this was going on or not? None I would imagine, therefore, ignorance is bliss!At best Hearts people have been guilty of ignorance but I don't believe that businessmen could be so gullible.

[MrSmith]

At best Hearts people have been guilty of ignorance but I don't believe that businessmen could be so gullible.

Almost certain they knew/suspected but what could they do? Romanov probably had most running scared or withholding cash?

[Caversham Green]

I'm not so sure. They can most definitely plead ignorance in this because of the board build - all liths. I don't think, other than Camp Og I suppose? Got close enough to the inner sanctum to know full implication or disclosures. However, we can give them it tight for as long as can be bothered!!

Bob makes a valid point. As far as the law and the authorities are concerned HoMFC is simply a business owned and operated by UBIG - there is no 'they' other than the directors and controlling shareholders. If it was found or suspected that that business was a channel for illicit funds the consequences could indeed be dire for the club. The fans and employees would have no more say in the matter than the people who bought horseburgers from Tesco and closing down their club would not be seen as a punshment in law.

BTW, Campbell Ogilvie was never actually a director of HoMFC, nor is David Southern now.

[MrSmith]

Bob makes a valid point. As far as the law and the authorities are concerned HoMFC is simply a business owned and operated by UBIG - there is no 'they' other than the directors and controlling shareholders. If it was found or suspected that that business was a channel for illicit funds the consequences could indeed be dire for the club. The fans and employees would have no more say in the matter than the people who bought horseburgers from Tesco and closing down their club would not be seen as a punshment in law.

BTW, Campbell Ogilvie was never actually a director of HoMFC, nor is David Southern now.

Thanks for the info CG. I love it factual information, particularly of this nature.

[Dashing Bob S]

Bob makes a valid point. As far as the law and the authorities are concerned HoMFC is simply a business owned and operated by UBIG - there is no 'they' other than the directors and controlling shareholders. If it was found or suspected that that business was a channel for illicit funds the consequences could indeed be dire for the club. The fans and employees would have no more say in the matter than the people who bought horseburgers from Tesco and closing down their club would not be seen as a punshment in law.

BTW, Campbell Ogilvie was never actually a director of HoMFC, nor is David Southern now.

If the club, as part of the UKIOS/UBIG business empire, are part of any investigations into where the monies coming into Hearts originated from (and it now seems almost impossible that this won't happen) then consequences could indeed be dire. There could be stalling moves by lawyers which could call the ownership and financing of Hearts into question, and this could mitigate against them being read to compete at level in season 13/14. If these investigations are ongoing, it makes future ownership of/investment in the club, an inherently hazardous prospect. Anybody inclined to do this will know that the SFA (and possibly UEFA,FIFA) will almost certainly have to apply sanctions if there is any question at all that an official investigation might reveal money from illegal and immoral activities.

Once this ball starts rolling, I think its going to take some time for anyone to know what they are buying with Hearts, either now or in the future. Are they buying a 'complete' club (name, history and/or player contracts, and stadium and staff) or part of or none of this? Are they taking on a debt, and if so, at what level and who exactly are the creditors? Are they buying a 'clean' reconstructed club, or one which will, as a business entity, be subject to ongoing criminal investigations regarding the source and movement of the monies in and out of the club and enjoyed by the club to pay for player contracts?

[Dibben]

If the club, as part of the UKIOS/UBIG business empire, are part of any investigations into where the monies coming into Hearts originated from (and it now seems almost impossible that this won't happen) then consequences could indeed be dire. There could be stalling moves by lawyers which could call the ownership and financing of Hearts into question, and this could mitigate against them being read to compete at level in season 13/14. If these investigations are ongoing, it makes future ownership of/investment in the club, an inherently hazardous prospect. Anybody inclined to do this will know that the SFA (and possibly UEFA,FIFA) will almost certainly have to apply sanctions if there is any question at all that an official investigation might reveal money from illegal and immoral activities.

Once this ball starts rolling, I think its going to take some time for anyone to know what they are buying with Hearts, either now or in the future. Are they buying a 'complete' club (name, history and/or player contracts, and stadium and staff) or part of or none of this? Are they taking on a debt, and if so, at what level and who exactly are the creditors? Are they buying a 'clean' reconstructed club, or one which will, as a business entity, be subject to ongoing criminal investigations regarding the source and movement of the monies in and out of the club and enjoyed by the club to pay for player contracts?

Love it! It really can't happen soon enough!

:D

[Jack Hackett]

Love it! It really won't happen soon enough!

:D

Fixed that. Tomorrow would have been my favoured time :greengrin

[Sanger]

Fixed that. Tomorrow would have been my favoured time :greengrin
The loans to Hearts either directly through UB or via UBIG are seen by the Lithuanian state as Romnaov's "bad" liabilities. They have no of being repaid. The assets held against there's loans will be liquidated to the highest buyer. Hearts real problem is with HMRC and having working capital to keep the club running till they can find a buyer for the club and Tynecastle who can pay a reasonable sum for Tyncastle, pay HMRC and have funds to run the club till the end of the season.

[Dashing Bob S]

The loans to Hearts either directly through UB or via UBIG are seen by the Lithuanian state as Romnaov's "bad" liabilities. They have no of being repaid. The assets held against there's loans will be liquidated to the highest buyer. Hearts real problem is with HMRC and having working capital to keep the club running till they can find a buyer for the club and Tynecastle who can pay a reasonable sum for Tyncastle, pay HMRC and have funds to run the club till the end of the season.

It think in the short term, that's exactly what they're up against.

But I think this is relatively small beer to what is coming.

[--------]

If Carlsberg made Sundays .... :devil:


:flag::flag::flag::flag::flag::flag::flag::flag:

[Dibben]

Fixed that. Tomorrow would have been my favoured time :greengrin

:aok:

[Gus Fring]

I enjoy this thread, especially the pessimists who think that Hearts will be fine and get out of this smelling of roses. I'd like to address them, as the way I see it, none of the suggested escape routes seem plausible.

The league cup final will not generate anywhere near enough money to save them. just like the Scottish Cup final wasn't enough, just like the Liverpool match wasn't enough, just like the St Mirren "last match" wasn't enough, just like their share (non) issue wasn't enough, just like the League Cup semi wasn't enough.

Hearts don't have the luxury of having a TV deal that is structured to suit them (it didn't help Oldco Rangers anyway). They also don't have the luxury of not having proper rules and precedents in place. We've all been of the opinion that Rangers were let off lightly but Hearts alleged business dealings make Rangers, Murray and Whyte look almost squeaky clean.

It would seem that Tynecastle is kaput. It's got a floating charge over it and that looks like its almost definitely going to be called in, as it stands it would cost 6.8m just to keep that hole of a stadium. If someone had that money it would make more sense to put that money elsewhere as it would go much further to securing the survival of the club then secure a deal with Murrayfield of Livi for a groundshare.

The council won't save Hearts. They've already been lenient with payments, granted, but the council doesn't have wads of spare cash lying around. There would be an outcry from Hibs fans and non-football people over why the council have chosen to help a football club which has employed convicted sex offenders and been run horridly for years, but have let other businesses die as a result of the trams. The best Hearts can hope for is the council don't lean on them too hard for what they are due.

I honestly believe Hearts best chance of survival is to go into Administration as quickly as possible which would protect them somewhat from whats happening in Lithuania and then hope they finish higher than Dundee after the points deduction, even if they end up in Division 1 it's still better than what happened to Rangers. That would then at least make them more attractive to a buyer as they can rebuild them.


Short of a filthy rich benefactor popping his clogs after agreeing to leave his enormous wealth to that shambles of a club and business, they've very little chance of survival in their current form. No sane person will buy them in their current position.

The first domino has been pushed, we just need to wait patiently for Hearts' turn.

[Purple & Green]

If this is the case, the question is who will bid for the stadium? If I were a buyer for Tesco or another such organisation, I would consider carefully the level of animosity that would go with such a purchase. It will be very interesting in a slightly morbid way, to watch the developments unravel. Will Hearts emerge with a Tom Farmer?

Of course tesco might choose not to get their hands dirty, and allow a third party to buy the property and let it sit vacant for a couple of years.

[cocopops1875]

I enjoy this thread, especially the pessimists who think that Hearts will be fine and get out of this smelling of roses. I'd like to address them, as the way I see it, none of the suggested escape routes seem plausible.

The league cup final will not generate anywhere near enough money to save them. just like the Scottish Cup final wasn't enough, just like the Liverpool match wasn't enough, just like the St Mirren "last match" wasn't enough, just like their share (non) issue wasn't enough, just like the League Cup semi wasn't enough.

Hearts don't have the luxury of having a TV deal that is structured to suit them (it didn't help Oldco Rangers anyway). They also don't have the luxury of not having proper rules and precedents in place. We've all been of the opinion that Rangers were let off lightly but Hearts alleged business dealings make Rangers, Murray and Whyte look almost squeaky clean.

It would seem that Tynecastle is kaput. It's got a floating charge over it and that looks like its almost definitely going to be called in, as it stands it would cost 6.8m just to keep that hole of a stadium. If someone had that money it would make more sense to put that money elsewhere as it would go much further to securing the survival of the club then secure a deal with Murrayfield of Livi for a groundshare.

The council won't save Hearts. They've already been lenient with payments, granted, but the council doesn't have wads of spare cash lying around. There would be an outcry from Hibs fans and non-football people over why the council have chosen to help a football club which has employed convicted sex offenders and been run horridly for years, but have let other businesses die as a result of the trams. The best Hearts can hope for is the council don't lean on them too hard for what they are due.

I honestly believe Hearts best chance of survival is to go into Administration as quickly as possible which would protect them somewhat from whats happening in Lithuania and then hope they finish higher than Dundee after the points deduction, even if they end up in Division 1 it's still better than what happened to Rangers. That would then at least make them more attractive to a buyer as they can rebuild them.


Short of a filthy rich benefactor popping his clogs after agreeing to leave his enormous wealth to that shambles of a club and business, they've very little chance of survival in their current form. No sane person will buy them in their current position.

The first domino has been pushed, we just need to wait patiently for Hearts' turn.

I can Honestly say this Post sums up my thoughts exactly :thumbsup:

[FranckSuzy]

I enjoy this thread, especially the pessimists who think that Hearts will be fine and get out of this smelling of roses. I'd like to address them, as the way I see it, none of the suggested escape routes seem plausible.

The league cup final will not generate anywhere near enough money to save them. just like the Scottish Cup final wasn't enough, just like the Liverpool match wasn't enough, just like the St Mirren "last match" wasn't enough, just like their share (non) issue wasn't enough, just like the League Cup semi wasn't enough.

Hearts don't have the luxury of having a TV deal that is structured to suit them (it didn't help Oldco Rangers anyway). They also don't have the luxury of not having proper rules and precedents in place. We've all been of the opinion that Rangers were let off lightly but Hearts alleged business dealings make Rangers, Murray and Whyte look almost squeaky clean.

It would seem that Tynecastle is kaput. It's got a floating charge over it and that looks like its almost definitely going to be called in, as it stands it would cost 6.8m just to keep that hole of a stadium. If someone had that money it would make more sense to put that money elsewhere as it would go much further to securing the survival of the club then secure a deal with Murrayfield of Livi for a groundshare.

The council won't save Hearts. They've already been lenient with payments, granted, but the council doesn't have wads of spare cash lying around. There would be an outcry from Hibs fans and non-football people over why the council have chosen to help a football club which has employed convicted sex offenders and been run horridly for years, but have let other businesses die as a result of the trams. The best Hearts can hope for is the council don't lean on them too hard for what they are due.

I honestly believe Hearts best chance of survival is to go into Administration as quickly as possible which would protect them somewhat from whats happening in Lithuania and then hope they finish higher than Dundee after the points deduction, even if they end up in Division 1 it's still better than what happened to Rangers. That would then at least make them more attractive to a buyer as they can rebuild them.


Short of a filthy rich benefactor popping his clogs after agreeing to leave his enormous wealth to that shambles of a club and business, they've very little chance of survival in their current form. No sane person will buy them in their current position.

The first domino has been pushed, we just need to wait patiently for Hearts' turn.

Bloody brilliant! :top marks

[StevieC]

SKY Movies tonight at 10.15 .. Margin Call .. watch it and just keep picturing the HoMFC boardroom :wink:

[Springbank]

Of course tesco might choose not to get their hands dirty, and allow a third party to buy the property and let it sit vacant for a couple of years.

My thoughts too on the "most likely outcome" regarding their stadium.

Even if someone bought it to play sports in, Health & Safety would require the old stand to go unoccupied

[clerriehibs]

I enjoy this thread, especially the pessimists who think that Hearts will be fine and get out of this smelling of roses. I'd like to address them, as the way I see it, none of the suggested escape routes seem plausible.

The league cup final will not generate anywhere near enough money to save them. just like the Scottish Cup final wasn't enough, just like the Liverpool match wasn't enough, just like the St Mirren "last match" wasn't enough, just like their share (non) issue wasn't enough, just like the League Cup semi wasn't enough.

Hearts don't have the luxury of having a TV deal that is structured to suit them (it didn't help Oldco Rangers anyway). They also don't have the luxury of not having proper rules and precedents in place. We've all been of the opinion that Rangers were let off lightly but Hearts alleged business dealings make Rangers, Murray and Whyte look almost squeaky clean.

It would seem that Tynecastle is kaput. It's got a floating charge over it and that looks like its almost definitely going to be called in, as it stands it would cost 6.8m just to keep that hole of a stadium. If someone had that money it would make more sense to put that money elsewhere as it would go much further to securing the survival of the club then secure a deal with Murrayfield of Livi for a groundshare.

The council won't save Hearts. They've already been lenient with payments, granted, but the council doesn't have wads of spare cash lying around. There would be an outcry from Hibs fans and non-football people over why the council have chosen to help a football club which has employed convicted sex offenders and been run horridly for years, but have let other businesses die as a result of the trams. The best Hearts can hope for is the council don't lean on them too hard for what they are due.

I honestly believe Hearts best chance of survival is to go into Administration as quickly as possible which would protect them somewhat from whats happening in Lithuania and then hope they finish higher than Dundee after the points deduction, even if they end up in Division 1 it's still better than what happened to Rangers. That would then at least make them more attractive to a buyer as they can rebuild them.


Short of a filthy rich benefactor popping his clogs after agreeing to leave his enormous wealth to that shambles of a club and business, they've very little chance of survival in their current form. No sane person will buy them in their current position.

The first domino has been pushed, we just need to wait patiently for Hearts' turn.

I still think this might be a tad optimistic. If Hearts debt was mostly held by UKIO and/or UBIG, and the new bank deems that debt as unrecoverable, then Hearts might be sold off as they are, without significant debt. They'll lose any assets, but what are they? Swynecastle, and that's it. They'll play at murrayfield, but so what, we all know they aren't proud.

So it might not cost an arm and a leg for some new outfit to buy them, albeit all they'll be getting is a bunch of averagely crap players, but more importantly, the SFA/SPL licence. The new outfit will just have to be sure they can cover debts that are about to be incurred to cooncil, hmrc, and players in the main. Difficlut enough, obviously. But impossible? No.

What's most galling is the cheating that has so obviously gone on over the past few years, wrt to how come they had players they couldn't afford to (over)pay. This is where they should really come a cropper, but the SFA/SPL do not seem to want to start digging. Have they lost the appetite for it, after the kicking they got for making a pig's ear of it all with sevco?

[Hibeesforever]

And lest we forget who the alleged 'innocent parties are'. I cite Vladimir Roamnov - majority owner of said laundering bank and shareholder of UBIG...and Yam director, Sergey Fedotovas - Founder of UBIG and UBIG director.

They certainly can't play the 'lack of awareness' card as they're implicit, if not pivotal in the whole ruse.

You couldn't make this story up. If this is again true and most things on this thread seem to have so far come to pass, then the plot just gets thicker and thicker.
The fact that nobody is protesting or asking questions outside Tynecastle is just going to make their eventual demise even more enjoyable and funny.

What I find amusing is that now they have a smarmy gentleman in Mr Sutherland trying to convince mothers to part with their childrens cash. Reminds me of the last days of the recent Libyian crisis when Colonel Gaddafi put a well spoken Middle Eastern British educated character up in front of the cameras.

Heart of Midlothian F.C: an institution and club that is the true disgrace and finanical embarrassment to the great city of Edinburgh.

[Killiehibbie]

Almost certain they knew/suspected but what could they do? Romanov probably had most running scared or withholding cash?the rumours about his dodgy dealings were circulating before he took over but they didn't care.

[The Green Goblin]

the rumours about his dodgy dealings were circulating before he took over but they didn't care.

Yes, plus the fact that two other clubs didn't like the smell of him when he approached them (Dunfy and Dundee Utd, I think - is that right?)

The chickens are well and truly coming home to roost, and they have nobody to blame for welcoming his promises of money and success with such arrogance and bluster but themselves.

They should look to themselves - and deserve everything they get. No sympathy from me.

[--------]

Yes, plus the fact that two other clubs didn't like the smell of him when he approached them (Dunfy and Dundee Utd, I think - is that right?)

The chickens are well and truly coming home to roost, and they have nobody to blame for welcoming his promises of money and success with such arrogance and bluster but themselves.

They should look to themselves - and deserve everything they get. No sympathy from me.


Yup - and I believe he had been sniffing around a couple f other teams as well. They all had the sense to tell him to tyake a hike, but our friends in Gorgie knew better.

If I were a Jambo (thank you, God that I'm not!) I would be looking out the bullwhip and white pointy hood and nightie and making calls on the likes of Deans and Foulkes to invite them to explain themselves.

[jacomo]

Yes, plus the fact that two other clubs didn't like the smell of him when he approached them (Dunfy and Dundee Utd, I think - is that right?)

The chickens are well and truly coming home to roost, and they have nobody to blame for welcoming his promises of money and success with such arrogance and bluster but themselves.

They should look to themselves - and deserve everything they get. No sympathy from me.

Dundee - that perennial basket case - also rejected an approach from Romanov. He made no secret of the fact that he would be bringing a number of Lithuanian players to any club he bought which, alongside other doubts about his financial affairs, must have set alarm bells ringing. Not at Hearts though, who were desparate:

http://news.bbc.co.uk/sport1/hi/football/teams/h/heart_of_midlothian/4396338.stm

[Spike Mandela]

Looks like the penny has finally dropped at The Scotsman.......

http://www.scotsman.com/sport/football/top-football-stories/hearts-must-open-the-curtains-at-tynecastle-1-2819311

[Hibrandenburg]

I enjoy this thread, especially the pessimists who think that Hearts will be fine and get out of this smelling of roses. I'd like to address them, as the way I see it, none of the suggested escape routes seem plausible.

The league cup final will not generate anywhere near enough money to save them. just like the Scottish Cup final wasn't enough, just like the Liverpool match wasn't enough, just like the St Mirren "last match" wasn't enough, just like their share (non) issue wasn't enough, just like the League Cup semi wasn't enough.

Hearts don't have the luxury of having a TV deal that is structured to suit them (it didn't help Oldco Rangers anyway). They also don't have the luxury of not having proper rules and precedents in place. We've all been of the opinion that Rangers were let off lightly but Hearts alleged business dealings make Rangers, Murray and Whyte look almost squeaky clean.

It would seem that Tynecastle is kaput. It's got a floating charge over it and that looks like its almost definitely going to be called in, as it stands it would cost 6.8m just to keep that hole of a stadium. If someone had that money it would make more sense to put that money elsewhere as it would go much further to securing the survival of the club then secure a deal with Murrayfield of Livi for a groundshare.

The council won't save Hearts. They've already been lenient with payments, granted, but the council doesn't have wads of spare cash lying around. There would be an outcry from Hibs fans and non-football people over why the council have chosen to help a football club which has employed convicted sex offenders and been run horridly for years, but have let other businesses die as a result of the trams. The best Hearts can hope for is the council don't lean on them too hard for what they are due.

I honestly believe Hearts best chance of survival is to go into Administration as quickly as possible which would protect them somewhat from whats happening in Lithuania and then hope they finish higher than Dundee after the points deduction, even if they end up in Division 1 it's still better than what happened to Rangers. That would then at least make them more attractive to a buyer as they can rebuild them.


Short of a filthy rich benefactor popping his clogs after agreeing to leave his enormous wealth to that shambles of a club and business, they've very little chance of survival in their current form. No sane person will buy them in their current position.

The first domino has been pushed, we just need to wait patiently for Hearts' turn.


Don't stop now I'm nearly there.

[Dashing Bob S]

I still think this might be a tad optimistic. If Hearts debt was mostly held by UKIO and/or UBIG, and the new bank deems that debt as unrecoverable, then Hearts might be sold off as they are, without significant debt. They'll lose any assets, but what are they? Swynecastle, and that's it. They'll play at murrayfield, but so what, we all know they aren't proud.

So it might not cost an arm and a leg for some new outfit to buy them, albeit all they'll be getting is a bunch of averagely crap players, but more importantly, the SFA/SPL licence. The new outfit will just have to be sure they can cover debts that are about to be incurred to cooncil, hmrc, and players in the main. Difficlut enough, obviously. But impossible? No.

What's most galling is the cheating that has so obviously gone on over the past few years, wrt to how come they had players they couldn't afford to (over)pay. This is where they should really come a cropper, but the SFA/SPL do not seem to want to start digging. Have they lost the appetite for it, after the kicking they got for making a pig's ear of it all with sevco?



I don't think they ever dig any digging at all, or ever will. They simply react to the problems highlighted by others, be it HMRC in the case of Sevco. In the case of Hearts it will be the ongoing criminal investigations into the finances of the Romanov empire in Lithuania (of which Hearts are part and how their player contracts were funded) that will compel their attention. It would be an exceptionally foolish 'new outfit' who got involved in the ownership of Hearts with this hanging over them (although they are Jambos so it's not unlikely.)

[Ozyhibby]

http://www.thescottishsun.co.uk/scotsol/homepage/sport/spl/4821598/Driven-nuts.html

Amongst all the drivel in this article it says that Hearts have not been paying their admin staff.

[cocopops1875]

http://www.thescottishsun.co.uk/scotsol/homepage/sport/spl/4821598/Driven-nuts.html

Amongst all the drivel in this article it says that Hearts have not been paying their admin staff.

"ALL IS BARRY" :agree::greengrin:thumbsup:

[Onion]

[/B]

I don't think they ever dig any digging at all, or ever will. They simply react to the problems highlighted by others, be it HMRC in the case of Sevco. In the case of Hearts it will be the ongoing criminal investigations into the finances of the Romanov empire in Lithuania (of which Hearts are part and how their player contracts were funded) that will compel their attention. It would be an exceptionally foolish 'new outfit' who got involved in the ownership of Hearts with this hanging over them (although they are Jambos so it's not unlikely.)

:agree: There's also the cost to the SPL/SFA of running these investigations eg the bill for sevco must have been huge (specialist lawyers, Independent enquiries, PR, overtime, travel). The 2p in the pound fines won't come close to covering this. The last thing Regan and Doncaster want is another complex legal battle with another bust company.

IMHO the biggest threat to a "proper and just" end to the Yams dilemma comes from our very own Edinburgh Council. They won't care about money-laundering, financial doping, sex-offenders or how Hearts have got themselves into this mess. The EDC can simply lay all the blame on Vlad's shoulders - a corrupt foreigner who took advantage of the City's team. The EDC will see it as their duty to help their football club in whatever way they can. Building a new stadium for them and writing off a few bad debts is quite conceivable. This will of course be packaged up and sold to the residents as a benefit to the city, part of our heritage and culture.

When push comes to shove, any objections from Hibs will be politely ignored.

[Leithenhibby]

:agree: There's also the cost to the SPL/SFA of running these investigations eg the bill for sevco must have been huge (specialist lawyers, Independent enquiries, PR, overtime, travel). The 2p in the pound fines won't come close to covering this. The last thing Regan and Doncaster want is another complex legal battle with another bust company.

IMHO the biggest threat to a "proper and just" end to the Yams dilemma comes from our very own Edinburgh Council. They won't care about money-laundering, financial doping, sex-offenders or how Hearts have got themselves into this mess. The EDC can simply lay all the blame on Vlad's shoulders - a corrupt foreigner who took advantage of the City's team. The EDC will see it as their duty to help their football club in whatever way they can. Building a new stadium for them and writing off a few bad debts is quite conceivable. This will of course be packaged up and sold to the residents as a benefit to the city, part of our heritage and culture.

When push comes to shove, any objections from Hibs will be politely ignored.

I'm not to sure it will be just Hibs fans that make a noise, you can not get blood from a stone and EDC don't have the cash to build a new stadium for HoMFC, or anyone else for that matter... :wink:

[Dashing Bob S]

I'm not to sure it will be just Hibs fans that make a noise, you can not get blood from a stone and EDC don't have the cash to build a new stadium for HoMFC, or anyone else for that matter... :wink:

This is the crux of the matter. I'm sure they will try to help but it'll be in a Saughton enclosure sort of way.

[Leithenhibby]

This is the crux of the matter. I'm sure they will try to help but it'll be in a Saughton enclosure sort of way.

:agree:

I think they will help also, but a new stadium for me is never going to happen IMHO. Yes, if it were us would we expect help from the council! probably, but even if EDC did decide to help them with this it's going to take years, and they don't have that amount of time.

With schools being closed due to cut-backs, this is a non-starter for me :aok:

[Fat Penlon]

This is the crux of the matter. I'm sure they will try to help but it'll be in a Saughton enclosure sort of way.

They are already very much helping them at the moment by not enforcing their rules/laws on business rates and tax collection. Did we ever get the results of the 2nd FOI enquiry to find out exactly what they are due the council? The original figure was around 58k i think but will probably be more now and it being March it will now be due to be settled for the year.

[jdships]

'Beware the Ides of March' is the soothsayer's message to Julius Caesar, warning of his death.

It is now becoming applicable to the Jambo's - no money , no points , no club , in March , is on the cards

:greengrin

[s.a.m]

'Beware the Ides of March' is the soothsayer's message to Julius Caesar, warning of his death.

It is now becoming applicable to the Jambo's - no money , no points , no club , in March , is on the cards

:greengrin

....that's the 15th, isn't it? Which is a week on Friday. Will that be payday? :hmmm:

[Treadstone]

Looks like the penny has finally dropped at The Scotsman.......

http://www.scotsman.com/sport/football/top-football-stories/hearts-must-open-the-curtains-at-tynecastle-1-2819311

Not really our own 'greenginger' (I assume) has had to put Bathgate right in the comments below the story. Although greenginger could maybe take lessons from 'Baldrick' at 8:03

Debt is everywhere. The USA has massive debt. Man United have massive debt. Debt is everywhere. Not worried in the slightest. If we didn't have debts over the last 60 years we would have been as unsuccesful as Hibs and that is unthinkable.

Two things - Thanks for clearing the debt thing up and for 35 years of those years you were more unsuccessful than Hibs, even though your fans would like everybody to believe you have a trophy room like Real Madrid.

[the_ginger_hibee]

Who needs a taxi?

9439

[JeMeSouviens]

Another day ... another lack of Yam ST announcement. Cutting it awfy fine for the March wages aren't they? :cb

[Ozyhibby]

Another day ... another lack of Yam ST announcement. Cutting it awfy fine for the March wages aren't they? :cb

They are also cutting it fine if they are going to attempt a Sevco. The old Rangers went into admin on Feb 14th and only just managed, with a lot of help, to squeak into Div 3 for the start of the season.

[Kato]

Appeared on twitter in the last half hour.

@BryanPBradley: Hearts’ Romanov, Fedotovas resigned From UBIG board last week, not yet replaced, BNS reports, citing company registry in Vilnius (Bloomberg)

[Treadstone]

Appeared on twitter in the last half hour.

@BryanPBradley: Hearts’ Romanov, Fedotovas resigned From UBIG board last week, not yet replaced, BNS reports, citing company registry in Vilnius (Bloomberg)

Story here (http://www.bloomberg.com/news/2013-03-04/hearts-romanov-fedotovas-resign-from-ubig-board-bns-reports.html)

[greenginger]

Appeared on twitter in the last half hour.

@BryanPBradley: Hearts’ Romanov, Fedotovas resigned From UBIG board last week, not yet replaced, BNS reports, citing company registry in Vilnius (Bloomberg)

I take it that will be Roman Romanov resigning. Him and Fed. to be the Duff and Gray at the Wonga Dome ! :greengrin

Or could they be trying to show Hearts are not now controlled by UBIG before the liquidation ?

[jgl07]

Another day ... another lack of Yam ST announcement. Cutting it awfy fine for the March wages aren't they? :cb

I suspect that if they put season tickets on sale for an insolvent team the directors could be in trouble if they are liquidated.

I think they realize that the game is up.

Hearts will have had two home matches this week so may raise some cash although St Johnstone on Tuesday is hardly going to be a money spinner.

They will not have a home match for another month (Ross County on Saturday 6th April).

Post split there should be two home matches

[green glory]

Apparently the whole UBIG board has now resigned.

This cannot be good.

[hibs0666]

Apparently the whole UBIG board has now resigned.

This cannot be good.

Depends on your perspective - I reckon that it's magnificent. :wink:

[CropleyWasGod]

I take it that will be Roman Romanov resigning. Him and Fed. to be the Duff and Gray at the Wonga Dome ! :greengrin

Or could they be trying to show Hearts are not now controlled by UBIG before the liquidation ?

Control isn't about the make-up of the Board. It's about ownership.

[cam75]

It's ubig that have control over the debt that owe it to the bank I'm very confused with all this,I thought they owe it to them selfs ?👀👂👄

[PatHead]

It's ubig that have control over the debt that owe it to the bank I'm very confused with all this,I thought they owe it to them selfs ?

Its all okay 5-1, wee cup final, a saviour will come along, council won't see us shafted, this type of thing happens to big teams when they have such fancy finances. Move along nothing to see

[Hibee87]

Apparently the whole UBIG board has now resigned.

This cannot be good.

If this is the case then Romanov has no say in hearts whatsoever is that right :confused:

[grunt]

Control isn't about the make-up of the Board. It's about ownership.What do you think this mass resignation means, Crop?

[declan macmanus]

The rats are deserting a sinking submarine?



Sent from my iPhone using Tapatalk

[Sanger]

What do you think this mass resignation means, Crop?


UB lent the money to UBIG who lent it to Hearts. It's seen as a bad loan in which the Lithuanian Sate will want to recoup as much as possible from the the sale of assets (Tyncastle, players, etc) against the loan. New board will be tasked with the sale of these assets. Today the Lithuanian ststae sold $301 million of debt to plug the whole that Romanov's bad loans have left on UB's balance sheet. All the debt was bought from the government by Siauliu Bankas. So they are now incetivised to procceed with bankruptcy proccedings to sell as many assets as possible to reduce this loan to the government

[Caversham Green]

What do you think this mass resignation means, Crop?

It's an admission that they don't think they can get the company out of its current problems and they're offering the shareholders an opportunity to appoint someone who can. I would expect an insolvency event to follow quite quickly now.

[Spike Mandela]

Events appear to be gathering apace.:cb

[Andy74]

It's an admission that they don't think they can get the company out of its current problems and they're offering the shareholders an opportunity to appoint someone who can. I would expect an insolvency event to follow quite quickly now.

This shaping up to be a decent few weeks.

[CropleyWasGod]

It's an admission that they don't think they can get the company out of its current problems and they're offering the shareholders an opportunity to appoint someone who can. I would expect an insolvency event to follow quite quickly now.

That's my take on it, too.

[WindyMiller]

:agree: There's also the cost to the SPL/SFA of running these investigations eg the bill for sevco must have been huge (specialist lawyers, Independent enquiries, PR, overtime, travel). The 2p in the pound fines won't come close to covering this. The last thing Regan and Doncaster want is another complex legal battle with another bust company.

IMHO the biggest threat to a "proper and just" end to the Yams dilemma comes from our very own Edinburgh Council. They won't care about money-laundering, financial doping, sex-offenders or how Hearts have got themselves into this mess. The EDC can simply lay all the blame on Vlad's shoulders - a corrupt foreigner who took advantage of the City's team. The EDC will see it as their duty to help their football club in whatever way they can. Building a new stadium for them and writing off a few bad debts is quite conceivable. This will of course be packaged up and sold to the residents as a benefit to the city, part of our heritage and culture.

When push comes to shove, any objections from Hibs will be politely ignored.



Absolute p!5h.

[CyberSauzee]

http://www.businessweek.com/news/2013-03-04/hearts-romanov-fedotovas-resign-from-ubig-board-bns-reports


The entire board of directors of Ukio Banko Investicine Grupe, a Lithuanian company that owns Scotland’s Heart of Midlothian soccer club, resigned last week, Baltic News Service reported.

Vladimir Romanov, who was majority owner of lender Ukio Bankas (UKB1L) AB, which Lithuania’s central bank declared insolvent last month, resigned as chairman of the board of UBIG on Feb. 27, the newswire said, citing the company registry in Vilnius.

Hearts’ Director Sergejus Fedotovas also resigned from the board of UBIG, as did Rita Matuziene, BNS reported.

A new board will be elected at the next meeting of shareholders of UBIG, the date for which hasn’t been fixed, according to Matuziene, who said she remains in her post as chief executive officer at UBIG, according to BNS.

To contact the reporter on this story: Bryan Bradley in Vilnius at bbradley13@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

[Seveno]

Just announced on BBC that the entire Board of UBIG has resigned.

Will Hearts survive till Sunday ?

[CropleyWasGod]

If this is the case then Romanov has no say in hearts whatsoever is that right :confused:

UBIG is still the majority shareholder in HMFC. Therefore, he has control over them to the extent that he has ownership of UBIG.

[Treadstone]

New board at UBIG looking over the books:


http://www.youtube.com/watch?v=e0jhMPbpeIY

[Fat Penlon]

Can someone tweet our pal Barry and tell him not to worry as events in Lithuania wont effect HMFC!

haha my ar5e they wont!!

[green glory]

The UBIG board resigned last week apparently.

"And hasn't been replaced".

http://mobile.bloomberg.com/news/2013-03-04/lithuania-moves-ahead-with-bank-closure-process-praised-by-s-p.html

[Hainan Hibs]

Evidence that the lightning that struck St Peter's was God's sign that the end game was beginning for the Yams:agree:

[greenginger]

UBIG is still the majority shareholder in HMFC. Therefore, he has control over them to the extent that he has ownership of UBIG.

According to Sergey's information on the PM board Vlad only owned 30.57% of UBIG equity. His control will have gone now so who is steering the Sub. ? :greengrin

[Spike Mandela]

According to Sergey's information on the PM board Vlad only owned 30.57% of UBIG equity. His control will have gone now so who is steering the Sub. ? :greengrin

Google eyed Malofeev....screaming "it's mine, all mine ha ha ha ha ha arrrggghhhh!!"

[Gus Fring]

STV: "Vladimir Romanov relinquishes control at Hearts after quitting UBIG board"

http://sport.stv.tv/football/clubs/hearts/216336-vladimir-romanov-relinquishes-control-at-hearts-after-quitting-ubig-board/

[Frazerbob]

It's Ok, they were just borrowing from themselves!

Vladamir Romanov, he's skint now he's ****ed off :flag:

[hibs0666]

STV: "Vladimir Romanov relinquishes control at Hearts after quitting UBIG board"

http://sport.stv.tv/football/clubs/hearts/216336-vladimir-romanov-relinquishes-control-at-hearts-after-quitting-ubig-board/

Think it was Mini Me rather than vlad that was on the UBIG board. Unless he has dumped his shareholding then Vlad is still an owner of UBIG.

[Sweet Left Peg]

So, to the untrained Left Peg, it would appear that their resigning leaves the door open for the administrators of Ukio Bankas to appoint anyone they like to facilitate their own proceedings, if this is even required. Which in turn places them a step closer to Hearts and ***********. Right ballpark, or way out of leftfield?

[Kato]

STV: "Vladimir Romanov relinquishes control at Hearts after quitting UBIG board"

http://sport.stv.tv/football/clubs/hearts/216336-vladimir-romanov-relinquishes-control-at-hearts-after-quitting-ubig-board/



Bub-bye, Vlad. It's been a hell of a crazy trip having you own out so-called rivals. You fitted right in over there. Good luck on the cabs.

[bigwheel]

Bub-bye, Vlad. It's been a hell of a crazy trip having you own out so-called rivals. You fitted right in over there. Good luck on the cabs.

I'm surprised this is not getting more headlines....it is not only the end of Vlad , it also means Hearts will be taken over by new owners...likely the UBIG administrators will take control....and they're only objective is to maximise the amount of money they recoup....this is a defining moment...it will start to unravel...

[BSEJVT]

never has the phrase " all is barry" seemed more apt:greengrin

[Waxy]

I'd like to take this chance to say goodbye to hearts.
I'd like to say it's been nice knowing yous but its been kinda awful.
Now away and liquidate quietly.
Sure you'll pop again at Saughton enclosure in a few years playing the likes of Craigroyston and Galatasaray oops i neant Gala fairydean.

[Spike Mandela]

I would imagine the MSM will now become saturated with sob stories from Fatty Foulkes, Robbo and MacKay about saving this wonderful institution.

[Pete]

So, correct me if I'm wrong but do recent events mean that we are having a party while at the same time, they are going bust?

[MacBean]

So let me get this right, he Hasn't left hearts. He hasn't given up his share, only left the board of UBIG. He still controls the largest share of UBIG and as a result He still owns the club.

appears he is Deserting a sinking ship. Admin for UBIG shortly followed by hearts.

[PatHead]

Hope they make it to Sunday as they are up for a right humping. Would love it if they went bust on the morning of the League Cup final and St Mirren had to kick off against no opposition.

[JeMeSouviens]

Think all we need now is a hard headed Lithuanian ******* in charge of asset recovery. :pray:

Hope Duff&Phelps don't have an office in Vilnius. :rolleyes:

[Kato]

I would imagine the MSM will now become saturated with sob stories from Fatty Foulkes, Robbo and MacKay about saving this wonderful institution.

You mean the guys who endorsed a gang of crooks the last time, told the jamtards to sell to hm then got behind his fruity "buy-back" share offer?

[hibbytam]

Vlads's gone? ... But who'll pick the team on sunday??

[lapsedhibee]

Vlads's gone? ... But who'll pick the team on sunday??

Fax machine may have a back-up memory for when the real power drops out.

[Ultrabee1-0]

Just been told romanov has walked out hearts apparently on stv news but my phone let me look can somone confirm this as it would be pretty funny.

[Killiehibbie]

Bye bye jamtarts :giruy:

[iwasthere1972]

Just been told romanov has walked out hearts apparently on stv news but my phone let me look can somone confirm this as it would be pretty funny.

Just coming up now. Will update when full story has been told.

Bang.......Bang.....Bang

[Jpdhfc]

Just been told romanov has walked out hearts apparently on stv news but my phone let me look can somone confirm this as it would be pretty funny.

Yes he's gone

[Ozyhibby]

Fax machine may have a back-up memory for when the real power drops out.

Back up memories are all they will have soon enough.
Without a board and no CEO, surely Ubig will be put into admin now? How long can they limp on with nobody in control?

[Hibby70]

Back up memories are all they will have soon enough.
Without a board and no CEO, surely Ubig will be put into admin now? How long can they limp on with nobody in control?

This truly is the end. They'll manage the next home game but that will be the last game at Tynecastle.

[CyberSauzee]

never has the phrase " all is barry" seemed more apt:greengrin

All is very barry! :-)

[Saorsa]

http://i19.photobucket.com/albums/b168/jamie1971/doomed.jpg :agree:

[davhibby]

Where's the reassuring hearts statement????

[Waxy]

Yams board will be waiting for the takings from tomorrows match against St johnstone before riding off into the sunset.
Doubt they can squeeze anymore now.
Admin to follow very soon.

[ScottB]

Has Fedotavas also fled the Wongadome I wonder?

Does seem like the rats are all fleeing overboard, wouldn't be surprised if there's nobody left in a position of real power over the road.


It's all just f***ing hilarious really isn't it? :greengrin

[R'Albin]

Where's that little countdown gone to?

[joe breezy]

but, but, but 5-1 ha ha ha ha ha ha ha

[DaveF]

This truly is the end.

Sorry, but I'm certain that BAnderson reported events in Lithuaina had no effect on HoMoFC. Who could possibly doubt such an esteemed journalist :rolleyes:

[Sergey]

With Fedotovas and Vlad leaving UBIG, I assume now that there's absolutely no chance of the auditors signing-off last years accounts as they're certainly not a going concern.

What's the penalty for the non-submission of Y/E accounts?

[VickMackie]

If ubig go into admin are hearts automatically deducted 18 points?

[Mikey]

If ubig go into admin are hearts automatically deducted 18 points?

Yes.

[VickMackie]

Yes.

Tremendous!

[WindyMiller]

http://www.youtube.com/watch?v=P3ALwKeSEYs

[Saorsa]

With Fedotovas and Vlad leaving UBIG, I assume now that there's absolutely no chance of the auditors signing-off last years accounts as they're certainly not a going concern.

What's the penalty for the non-submission of Y/E accounts?9440

[blackpoolhibs]

Yes.

Its getting harder.

[Col2]

Has Fedotavas also fled the Wongadome I wonder?

Does seem like the rats are all fleeing overboard, wouldn't be surprised if there's nobody left in a position of real power over the road.


It's all just f***ing hilarious really isn't it? :greengrin

Fedatovas remains on Hertz board. After all it needs someone to redirect the cup final cash, St Johnstone home game takings and tickets for Easter road away end. I fear amongst other things Rod won't see that cash..

[CropleyWasGod]

With Fedotovas and Vlad leaving UBIG, I assume now that there's absolutely no chance of the auditors signing-off last years accounts as they're certainly not a going concern.

What's the penalty for the non-submission of Y/E accounts?

It's a couple of hundred quid initially, rising as the default period lengthens. However, the moment administration happens, it's frozen.

It's a drop in the Baltic. :greengrin

[The_Todd]

Its getting harder.

9442

[Killiehibbie]

Fedatovas remains on Hertz board. After all it needs someone to redirect the cup final cash, St Johnstone home game takings and tickets for Easter road away end. I fear amongst other things Rod won't see that cash..£560 we're getting bumped for going by their ticket sales up to this morning.

[Sergey]

It's a couple of hundred quid initially, rising as the default period lengthens. However, the moment administration happens, it's frozen.

It's a drop in the Baltic. :greengrin

Actually - what I meant to ask was what the SPL/SFA penalties are. I'm certain that accounts had to be submitted by all clubs by a pre-agreed date.

[Hibercelona]

It's looking very grey for our pinkoid chums across the city.

Still, I won't believe it until it actually happens.

[CropleyWasGod]

Actually - what I meant to ask was what the SPL/SFA penalties are. I'm certain that accounts had to be submitted by all clubs by a pre-agreed date.

They could lose their SFA licence.

By the letter of the rules, they shouldn't have been granted a licence to play in Europe this season, as their accounts were late. I assume, though, that the SFA took a lenient view as this is the first year of the new licensing regime.

[The_Todd]

Across on Sickbag, it seems all is still barry.

It just means it's more likely that the money they owe themselves won't go anywhere and they'll be debt free in no time. That's what I'm getting from there, anyway.

[Oscar T Grouch]

Fedatovas remains on Hertz board. After all it needs someone to redirect the cup final cash, St Johnstone home game takings and tickets for Easter road away end. I fear amongst other things Rod won't see that cash..

I thought the 'football' monies were a sure thing, coming fi the SPL prize money if they fail to pay (which they will:greengrin) not sure though, I cannae imagine Rod would let it go.

[Seveno]

What shoddy reporting by Dougie Vipond on Reporting Scotland in his 10 second report.

' But Romanov still owns Hearts'. No he doesn't you muppet. UBIG own Hearts and their shares will soon be worthless. The creditors own Hearts !

[Sanger]

The net closes in on Hearts. State rescue fund through bankruptcy proceedings will recover assets that were part of loans from UB and UBIG.



Lithuania Moves Ahead With Bank-Closure Process Praised by S&P

Lithuania’s smooth closing of insolvent lender Ukio Bankas AB (UKB1L) moved ahead as rival Siauliu Bankas AB (SAB1L) bought state debt to fund the deposit-insurance fund and said it was reopening some of Ukio’s former branches.

Siauliu will reopen 25 former Ukio branches, starting with six tomorrow, the bank based in the city of Siauliai said in an e-mailed statement today. Separately, Siauliu said today it purchased 799 million litai ($301 million) of government debt to help the state deposit-insurance fund finance a deal in which Siauliu is taking over 2.7 billion litai of Ukio deposits.

The Baltic nation has managed to renew service to most clients of the former sixth-largest bank less than three weeks after the central bank suspended the lender, saying risky lending to related parties led it to insolvency. Standard & Poor’s Rating Service last week praised Lithuania for resolving Ukio’s woes without destabilizing the country’s other banks.

“The authorities’ response serves as a demonstration of strength,” S&P said in a report on Feb. 27. “We expect the sale of Ukio’s stronger assets and guaranteed deposits to Siauliu Bankas to be managed without causing a major disruption in the sector, nor resulting in significant system-wide withdrawals of deposits.”

EBRD Support

The European Bank for Reconstruction and Development, Siauliu’s largest shareholder with a 19.6 percent stake, helped strengthen Siauliu for the partial takeover by granting it a 20 million-euro ($26 million) subordinated loan.

The deal with Siauliu allowed the deposit-insurance fund to reduce payouts related with Ukio’s collapse to 800 million litai, instead of 2.7 billion litai. The fund will seek to recover its money through bankruptcy proceedings for the Ukio assets not taken over by Siauliu, the Finance Ministry has said.

Among those assets are loans that Ukio Bankas had made to a sister investment company, Ukio Banko Investicine Grupe, or UBIG, which is controlled by Ukio Bankas majority owner Vladimir Romanov and owns 79 percent of Scottish soccer club Heart of Midlothian as well as property in other countries.

UBIG’s entire board of directors resigned last week and hasn’t been replaced, Baltic News Service reported today, citing the company registry in Vilnius. That includes both Romanov, who was chairman of UBIG, and Hearts’ Director Sergejus Fedotovas, who was also on the board, BNS said.

Fedotovas declined to comment on the board situation at UBIG in an e-mailed response to Bloomberg questions today.

To contact the reporter on this story: Bryan Bradley in Vilnius atl bbradley13@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

Find out more about Bloomberg for iPhone: http://m.bloomberg.com/iphone/

[Gus Fring]

What shoddy reporting by Dougie Vipond on Reporting Scotland in his 10 second report.

' But Romanov still owns Hearts'. No he doesn't you muppet. UBIG own Hearts and their shares will soon be worthless. The creditors own Hearts !

He should never have given up the Deacon Blue gig.

[Aldo]

Its getting harder.

Your a bad man BH.

[Sergey]

They could lose their SFA licence.

By the letter of the rules, they shouldn't have been granted a licence to play in Europe this season, as their accounts were late. I assume, though, that the SFA took a lenient view as this is the first year of the new licensing regime.

If...and it's a big IF, they were to lose their licence, then the club would be utterly worthless to any new investor regardless of any agreed sale price.

SFL 3 as per Der Hun.

[hibeesdude]

too soon for this to reappear?

http://i1157.photobucket.com/albums/p597/dougm1966/yamageddon.jpg

[Barney McGrew]

Oh ma sides.

You're not laughing about 'tick tock' and the countdown clocks now are you ya Jambo welts :cb

[Mon Dieu4]

Actually - what I meant to ask was what the SPL/SFA penalties are. I'm certain that accounts had to be submitted by all clubs by a pre-agreed date.

It gets even better, it's actually in 27 days time, I just found this on the SFA website

A club is required to submit a summary of financial information covering the reporting year for 2012 and the previous two years i.e. 2011 and 2010 as detailed below.
Clubs will provide this information as follows -
 SPL clubs – by 31 March 2013
 All other clubs – by 30 April 2013
Unless the 2010 & 2011 figures have not previously been provided the club only requires to provide the 2012 figures.

[Up The Bracket]

As much as I hate them, I don't want them to go. Would miss the derby and the rivalry etc. Would like to see admin and Hearts in the First Division for a year or two though.

[Mikey]

It gets even better, it's actually in 27 days time, I just found this on the SFA website

A club is required to submit a summary of financial information covering the reporting year for 2012 and the previous two years i.e. 2011 and 2010 as detailed below.
Clubs will provide this information as follows -
 SPL clubs – by 31 March 2013
 All other clubs – by 30 April 2013
Unless the 2010 & 2011 figures have not previously been provided the club only requires to provide the 2012 figures.

Good spot. Just in case they needed reminded :aok:

[adhibs]

As much as I hate them, I don't want them to go. Would miss the derby and the rivalry etc. Would like to see admin and Hearts in the First Division for a year or two though.

Similar to me. Im taking far too much enjoyment from seeing them get beat every week, dunno who id laugh at if they weren't here

[BroxburnHibee]

Is this really it????

I'll believe it when I see it..........

[Saorsa]

As much as I hate them, I don't want them to go. Would miss the derby and the rivalry etc. Would like to see admin and Hearts in the First Division for a year or two though.Then you dinnae hate them enough :wink:

​**** h****s

[The_Todd]

As much as I hate them, I don't want them to go. Would miss the derby and the rivalry etc. Would like to see admin and Hearts in the First Division for a year or two though.

Try harder, then. You can do it!

[Mon Dieu4]

Hopefully this link works, this is the SFA rules for accounts etc, maybe one of our more educated financial wizards can find something else I missed, page 11 onwards

http://www.scottishfa.co.uk/resources/documents/ClubLicensing/Part2:National/Part2Sect8_Legal,Admin,FinanceandCodesofPractice%2 0Criteria.pdf

[Biggie]

lovin' it.......my birthday next week, please let it be so....

[Hibs07p]

Fedatovas remains on Hertz board. After all it needs someone to redirect the cup final cash, St Johnstone home game takings and tickets for Easter road away end. I fear amongst other things Rod won't see that cash..

I don't know if it's wishful thinking on my part, but I tend to agree. Tomorrows home fixture with ST J is their last for a month, is there any real incentive for Hearts to pay Hibs the ticket money for the derby, their share of the cup final ticket money, or the players their wages on the 15th of March. I can see Hearts going into administration just after the cup final and keeping the money owed to Hibs and the SFL.

GGTTH

[Twa Cairpets]

With things moving at slightly faster pace now, there has to be a possibility that their last ever game is against us on Sunday.

I don't want them to die completely, just suffer for eternity with the occasional whipping of us to put them in their place.

Whatever happens, I reckon there is a huge chance this will be the last derby for years, and as such it is vital we send them off to oblivion with their tails between their legs, begging for mercy. 5-1? You can stick it right up yer shunk ya bunch of maggot-infested faeces eaters.

[clerriehibs]

As much as I hate them, I don't want them to go. Would miss the derby and the rivalry etc. Would like to see admin and Hearts in the First Division for a year or two though.
Enjoyed yesterday more than most derbies. Won't miss them AT ALL.

But - we died on 19 may last year, i'm told - is this a dream?

For any merricks looking in; relax, stop resisting (not that many are!), embrace it, it's only OBLIVION!

[TariqE]

I don't know if it's wishful thinking on my part, but I tend to agree. Tomorrows home fixture with ST J is their last for a month, is there any real incentive for Hearts to pay Hibs the ticket money for the derby, their share of the cup final ticket money, or the players their wages on the 15th of March. I can see Hearts going into administration just after the cup final and keeping the money owed to Hibs and the SFL.

GGTTH

I think someone should pay a visit to our St Mirren friends a visit and congratulate them on their league cup win!

[CraigHibee]

There are still some fannies at my work that said they don't mind what happens they will always have 5-1

When the club folds I wonder if they will still say the same?

It's getting that close, you can almost touch it :)

[Sergey]

It gets even better, it's actually in 27 days time, I just found this on the SFA website

A club is required to submit a summary of financial information covering the reporting year for 2012 and the previous two years i.e. 2011 and 2010 as detailed below.
Clubs will provide this information as follows -
 SPL clubs – by 31 March 2013
 All other clubs – by 30 April 2013
Unless the 2010 & 2011 figures have not previously been provided the club only requires to provide the 2012 figures.

Nice work - It'll be interesting to see what Johnstone Carmichael have to say as UBIG are no longer in the fold.

[The_Todd]

Nice work - It'll be interesting to see what Johnstone Carmichael have to say as UBIG are no longer in the fold.

Nailed on the accounts are summed up with "All is barry.".

[ScottB]

I think someone should pay a visit to our St Mirren friends a visit and congratulate them on their league cup win!

The final should go ahead regardless, I'd be happy to pay for a ticket to go to Hampden and laugh for 90 minutes while the Saints have a kick about...

[Last Minute]

Why is there nothing on bbc sport site about Romanov and Hearts troubles :confused:

[Barney McGrew]

Why is there nothing on bbc sport site about Romanov and Hearts troubles :confused:

Because they owe the money to themselves :agree:

[jabis]

Nice work - It'll be interesting to see what Johnstone Carmichael have to say as UBIG are no longer in the fold.

they signed off the last accounts,on the understanding that UBIG was supporting them.....as soon as they did vlad pulled the plug !!

[The_Todd]

Because the BBC are inherently anti-Hearts and love publishing all those negative stories about them. Oh wait, they haven't run with it? How odd.

[Gatecrasher]

Jambo Jimmy saves the day


http://www.youtube.com/watch?v=PunA-RBZY4g
:not worth

[RoYO!]

As much as I hate them, I don't want them to go. Would miss the derby and the rivalry etc. Would like to see admin and Hearts in the First Division for a year or two though.

How very west stand of you! :p

[Treadstone]

It gets even better, it's actually in 27 days time, I just found this on the SFA website
 SPL clubs – by 31 March 2013


Oh ya beauuutttttyyyyy:rules:

[07hibee]

It gets even better, it's actually in 27 days time, I just found this on the SFA website

A club is required to submit a summary of financial information covering the reporting year for 2012 and the previous two years i.e. 2011 and 2010 as detailed below.
Clubs will provide this information as follows -
 SPL clubs – by 31 March 2013
 All other clubs – by 30 April 2013
Unless the 2010 & 2011 figures have not previously been provided the club only requires to provide the 2012 figures.

Do you know if theres a points deduction for this?

[NOLA]

http://www.grapheine.com/bombaytv/agence-en-b1ec749ecd70048565d89865d1830b68.html

come on people lets make up some crackers :thumbsup:

[rcarter1]

There are still some fannies at my work that said they don't mind what happens they will always have 5-1

When the club folds I wonder if they will still say the same?

It's getting that close, you can almost touch it :)

The desperate, last, psychological death throws of the psychotically deluded. :ostrich:

[seven nowt]

Disappointing

[Craig_in_Prague]

Do you know if theres a points deduction for this?

Probably another transfer ban outwith the transfer window.

[Hibeesforever]

I have the finest Leith Champagne on ice....this thread should be printed out, it is a collectors item and I am proud to be listed. "I'm in and its barry". The late Mr Mercer, you saved my club and ended your own! By giving Vlad the opportunity to take the reins, you and your Lord and Lady friends are honoury Hibernian supporter legends.

[JMac]

So what if they have to post their financial statements, they'll say what we all know they'll say, massive massive debt. I don't think there will be penalties for posting debt otherwise many scottish clubs (including ourselves) would be in trouble, can anyone help me out? Am I right or will they be penalised just because of the scale of their debt? GGTTH

[Col2]

This quote from Kickback is just priceless:-

Mr I. Need To Grow a Pair

"Feeling kinda numb with what's happened today.

I am confused as the next fan, I don't know if its good or bad news. My head says bad, my heart says good.

Tonight I am meant to be going out to celebrate my engagement with the other half, but I've had to ask her if we can do it another time. All I want to do is go into my den and watch my 5-1 DVD and remember the good times.

I just want to add....

As long as our hearts are beating, there will always be a Heart of Midlothian."

Ha bloody ha, enjoy the DVD while everyone else looks to the future...

[Hibee87]

This quote from Kickback is just priceless:-

Mr I. Need To Grow a Pair

"Feeling kinda numb with what's happened today.

I am confused as the next fan, I don't know if its good or bad news. My head says bad, my heart says good.

Tonight I am meant to be going out to celebrate my engagement with the other half, but I've had to ask her if we can do it another time. All I want to do is go into my den and watch my 5-1 DVD and remember the good times.

I just want to add....

As long as our hearts are beating, there will always be a Heart of Midlothian."

Ha bloody ha, enjoy the DVD while everyone else looks to the future...

Shirley a hibee at the wind up

[SmithyHibee]

My favourite just now is "there's no debt, we'll just be sold to the highest bidder". It really is comical! Ohh well hopefully Spartans take their place, can be our new city rivals.

[Hibby D]

With things moving at slightly faster pace now, there has to be a possibility that their last ever game is against us on Sunday.

I don't want them to die completely, just suffer for eternity with the occasional whipping of us to put them in their place.

Whatever happens, I reckon there is a huge chance this will be the last derby for years, and as such it is vital we send them off to oblivion with their tails between their legs, begging for mercy. 5-1? You can stick it right up yer shunk ya bunch of maggot-infested faeces eaters.

I just love your command of the English language :tee hee:

[MSK]

http://www.grapheine.com/bmovie-tv/movie-en-11a1d89242adc8a1326055d01f882536.html

[Hibercelona]

Shirley a hibee at the wind up

He isn't.

He's just mentally unwell like the rest of them.

Anybody else see the pie delivery thread? :greengrin

You've got to laugh at their sheer desperation.

[Sanger]

Essentially Hearts will be made bankrupt by Lithuanian rescue fund in order that they recover and sell the assets. Although HMRC may beat them to it to try rescue some of the tax owed.The best they can become is become a newco in div 3 with someone forking out £7m for Tyncastle & injecting funds to run the club day to day. No way will they sell 40,000 when they are in div 3. More like 3,000. Tyncastle is sub prime property and would only sell for property in a boom. Maybe somebody buys at knock down price and waits ten years till a recovery. Best outcome div 3.worst ceases to exist.

[CropleyWasGod]

So what if they have to post their financial statements, they'll say what we all know they'll say, massive massive debt. I don't think there will be penalties for posting debt otherwise many scottish clubs (including ourselves) would be in trouble, can anyone help me out? Am I right or will they be penalised just because of the scale of their debt? GGTTH

It's not the debt that is the issue, at least not yet. They sign up to SFA rules, one of which is to lodge accounts with them on time.

In time, the SFA will adopt the FIFA Financial Fair Play model, and when that happens debt and losses will become an issue.

[Treadstone]

As much as I hate them, I don't want them to go. Would miss the derby and the rivalry etc. Would like to see admin and Hearts in the First Division for a year or two though.


Similar to me. Im taking far too much enjoyment from seeing them get beat every week, dunno who id laugh at if they weren't here

Have a look at a brokeback thread you'll soon change your mind.

[Hibee87]

My favourite just now is "there's no debt, we'll just be sold to the highest bidder". It really is comical! Ohh well hopefully Spartans take their place, can be our new city rivals.

Yeah they owe Ubig 20 million but there is no chance they will get that back, UBIG will go into admin and they will sell hearts for as much as they can get and hey presto everything is hunky dory!!


what they are ALL failing to ask is this....lets just say for arguments sake the above was true and FOH by them for next to nothing with no debt, lets just say this ACTUALLY happens what about this:

The club itself, the stadium the rent at riccation, bills, tax, debt owed out etc how much does that cost a year to run?
How much money do they earn and will it cover it?

simple answer is THEY DONT MAKE A PROFI unless some nutter comes in ready to squander millions............seriously do they just not get it?

[proud_and_green]

Some cracking posts on this thread:

http://www.hmfckickback.co.uk/index.php?/topic/125272-romanov-resigns/page__st__50


iainmac, on 04 March 2013 - 08:24 PM, said:


I think the price may be right (£7-10m for the club debt free) but who is going to pay it?

Answers on a postcard!

The Fans with a new but real share issue

So despite the fact that their fingers have been burnt they are willing to do it all again - given half the chance. Its a bit like that episode of the Simpsons when Homer's beers end up on the electricity cable and although he gets electrocuted every time he tries to get them off he keeps trying again and again.

Priceless.

[BSEJVT]

Yeah they owe Ubig 20 million but there is no chance they will get that back, UBIG will go into admin and they will sell hearts for as much as they can get and hey presto everything is hunky dory!!


what they are ALL failing to ask is this....lets just say for arguments sake the above was true and FOH by them for next to nothing with no debt, lets just say this ACTUALLY happens what about this:

The club itself, the stadium the rent at riccation, bills, tax, debt owed out etc how much does that cost a year to run?
How much money do they earn and will it cover it?

simple answer is THEY DONT MAKE A PROFI unless some nutter comes in ready to squander millions............seriously do they just not get it?

Some do but have spent So many years in denial as their club has stuttered from one crisis or humiliation to another and seen their history besmirched that their stock thought is if I don't accept it it it didn't happen

There is not one redeeming feature between them, their poxy club can **** off and die and the sooner the better.

[bigwheel]

Yeah they owe Ubig 20 million but there is no chance they will get that back, UBIG will go into admin and they will sell hearts for as much as they can get and hey presto everything is hunky dory!!


what they are ALL failing to ask is this....lets just say for arguments sake the above was true and FOH by them for next to nothing with no debt, lets just say this ACTUALLY happens what about this:

The club itself, the stadium the rent at riccation, bills, tax, debt owed out etc how much does that cost a year to run?
How much money do they earn and will it cover it?

simple answer is THEY DONT MAKE A PROFI unless some nutter comes in ready to squander millions............seriously do they just not get it?

They won't simply sell Hearts for as much as they can get ...they will realise the assets for as much as they can get ... They will break it up and sell all the elements separately if that provides a better return for the UBIG creditors ...they will not care about the football club , only maximising the amount of money they get

[Hibee87]

They won't simply sell Hearts for as much as they can get ...they will realise the assets for as much as they can get ... They will break it up and sell all the elements separately if that provides a better return for the UBIG creditors ...they will not care about the football club , only maximising the amount of money they get


I know this....my response was a hypothetical question aimed at the goons over the road who ACTUALLY think what I said is going to happen. When in reality its more likey to be as you said :greengrin

[johnbc70]

So who actually owns Hearts now - surely the SFA rules state an owner must be at least known and if the ownership has changed hands then has the new owner passed the 'fit and proper' test that now exists.

[Aldo]

Then you dinnae hate them enough :wink:

​**** h****s

This my man is spot on. I want them wiped out

TOTALLY

[Col2]

They won't simply sell Hearts for as much as they can get ...they will realise the assets for as much as they can get ... They will break it up and sell all the elements separately if that provides a better return for the UBIG creditors ...they will not care about the football club , only maximising the amount of money they get

That can't be right. This is a famous institution and surely the Lithuanians will feel a loyalty to HOMFC for all they have done for them and the balance sheet. You can't put a value on winning two world wars...