Share Transfers Agreed/Cooling off period

[Andy74]

That's exactly what my jambo mate told me this morning (see my earlier post)

If all other cash is gone then a few ST's is only going to pay bills and wages for a few weeks.

The new ownership stuff is nonsense right now whilst all the Lith stuff is where it is. There currently isn't away to get the football club and stadium without the debt.

[Caversham Green]

Close this thread....seems all will be well, lifted this from 5-11902.co.uk


Please bare with me. Heard today that the club is in a serious place regarding a shortfall of money to get us over the summer. Whilst we know all know this is not exactly new 'news' it was the gravity of the situation that shocked me. However it was pointed out that if everyone who had a season ticket last year and hasn't currently not renewed but then did so, then things would improve dramatically.

So why renew? Well, I can say with some degree of knowledge that the move to have new owners is moving fast and that things will take a turn for the positive fairly soon. I am geniunely not privvy to more than this but I can assure everyone that things are further down the line than simply 'consortiums' registering an interest.

So, what do can we do to help in the meantime? Simple enough, I am sure we all know someone who has not renewed from last season - badger them to do so. This is so vital to us right now - bringing the fans back on board not just for this season but going forward. Every additional season ticket will help us take that step towards being self sufficient and with likely new owners on the horizon then I cannot see anything but a positive future for Heart of Midlothian espically after years of uncertainty and at times negativity. (Apologise for the lack of PUNCTUATION - MY PC IS PLAYING UP).

No doubt I will get slaughtered by some but the message is clear - get you friends and family memebers who are lapsed ST holders back on board again - we have all put our money where our mouth is over the last year or so but I firmly believe that we are almost there with new owners but we just need the income that ST revenue will bring us to get us through the summer. Every ST bought is a step towards a positive future!!!!

I've just had a look on JKB and the person who posted this is someone who appears to be relatively sensible and ITK - I would certainly expect him/her to know that the events he/she is predicting simply can't happen.

That smell I mentioned earlier just got a lot stronger.

[Treadstone]

I think a poster nailed it a few days ago, FoH don't want to start collecting the money yet as the pledges are nowhere near anything that is required. The logistics of getting the money back to the pledgers (plebs) is currently more trouble than its worth.

Preview of FoH meeting next week. Ian Murray MP "all those in favour to see if we can SOUND OUT HoMFC to see if they're INTERESTED in NEGOTIATING an OFFER"

[matty_f]

If all other cash is gone then a few ST's is only going to pay bills and wages for a few weeks.

The new ownership stuff is nonsense right now whilst all the Lith stuff is where it is. There currently isn't away to get the football club and stadium without the debt.

The lack of funds and income to see out the season is fairly critical for talk of a new owner - as it means that not only will they need sufficient capital to purchase enough of the millions of shares to get control and clear at least some of the debt (unless they're able to buy the club and not the bus stop) but they'll need enough money to run the club for the season, which given that the majority of season tickets have now been sold, means that they need pretty much to have that money in the bank immediately to have any hope of seeing out the season. If they are relying on folk giving £20 a month here and there, they'll soon find that once the immediate danger has passed, folk will start to keep that money to themselves.

[Seveno]

If most of next season's ST money is already spent, it hardly makes it attractive to a buyer. Even more capital required.

Unless they do a Craigy and try to mortgage the next 3 seasons ST money. :cb

[Treadstone]

If most of next season's ST money is already spent, it hardly makes it attractive to a buyer. Even more capital required.

Unless they do a Craigy and try to mortgage the next 3 seasons ST money. :cb

I bet that hasn't been ruled out.

[Part/Time Supporter]

I've just had a look on JKB and the person who posted this is someone who appears to be relatively sensible and ITK - I would certainly expect him/her to know that the events he/she is predicting simply can't happen.

That smell I mentioned earlier just got a lot stronger.

Someone being ITK can work against them if they are being fed bull****.

ie it's in the interests of the regime to feed false hope

[jacomo]

Sounds like another letter from Fedotovas. :greengrin

Yup, I'd say so. The "we're in deep trouble but if you give more money things might work out ok" message does seem wearily familiar.

[Mac]

Someone being ITK can work against them if they are being fed bull****.

ie it's in the interests of the regime to feed false hope

Coud be someone feeding them from the club or someone from the club itself, im leaning towards the latter :wink:

[Seveno]

Sounds like another letter from Fedotovas. :greengrin

As in 'Please send more money for my salary this month'.

[poolman]

Close this thread....seems all will be well, lifted this from 5-11902.co.uk


Please bare with me. Heard today that the club is in a serious place regarding a shortfall of money to get us over the summer. Whilst we know all know this is not exactly new 'news' it was the gravity of the situation that shocked me. However it was pointed out that if everyone who had a season ticket last year and hasn't currently not renewed but then did so, then things would improve dramatically.

So why renew? Well, I can say with some degree of knowledge that the move to have new owners is moving fast and that things will take a turn for the positive fairly soon. I am geniunely not privvy to more than this but I can assure everyone that things are further down the line than simply 'consortiums' registering an interest.

So, what do can we do to help in the meantime? Simple enough, I am sure we all know someone who has not renewed from last season - badger them to do so. This is so vital to us right now - bringing the fans back on board not just for this season but going forward. Every additional season ticket will help us take that step towards being self sufficient and with likely new owners on the horizon then I cannot see anything but a positive future for Heart of Midlothian espically after years of uncertainty and at times negativity. (Apologise for the lack of PUNCTUATION - MY PC IS PLAYING UP).

No doubt I will get slaughtered by some but the message is clear - get you friends and family memebers who are lapsed ST holders back on board again - we have all put our money where our mouth is over the last year or so but I firmly believe that we are almost there with new owners but we just need the income that ST revenue will bring us to get us through the summer. Every ST bought is a step towards a positive future!!!!



Why has this not been thought of before

Another 3000 season tickets and #allisbarry........back to being the big team big signings'big wages

5-1....1902 blah blah blah

[greenginger]

I've just had a look on JKB and the person who posted this is someone who appears to be relatively sensible and ITK - I would certainly expect him/her to know that the events he/she is predicting simply can't happen.

That smell I mentioned earlier just got a lot stronger.


I can't access kickback at the moment. Who is this relatively sensible poster ?

I take it there has been no announcements of Hector getting his dosh.

[ScottB]

So, a brief summary...

Hearts season ticket sales are significantly down, suggestion that any bought on Credit Cards may result in the club not getting the money up front from CC companies.

Hearts state they have a week to find £100k or a face a winding up order over PAYE. Dates do not appear to add up according to our in house finance types.

Hearts beg for fans to buy season tickets to help pay this bill, no statement saying 'please only pay cash so we will have the money in hand' as they trotted out with the shares and other fundraising last season, so if we assume most people won't rock up with cash, any season tickets sold this week are unlikely to contribute to paying this 'bill.'

Further rumours of new owners and the like emerge. Fans encouraged to pay up for season tickets...


So yeah, something definitely stinks. Either they have the money to pay this bill, and are using the threat to try and ring more cash out of the puddle drinkers, or, there is no bill, and it's all an attempt at getting as much money out the fans as they can, notably prior to what some have suggested could be their last 'big' wage day, an attempt to get as much cash as they can in to pay that in order to avoid a transfer ban? Or to pull the plug before having to pay up?


Surely the Rev would make a statement of some sort if they are lying?

[Peevemor]

I've just had a look on JKB and the person who posted this is someone who appears to be relatively sensible and ITK - I would certainly expect him/her to know that the events he/she is predicting simply can't happen.

That smell I mentioned earlier just got a lot stronger.


Someone being ITK can work against them if they are being fed bull****.

ie it's in the interests of the regime to feed false hope


I can't access kickback at the moment. Who is this relatively sensible poster ?

I take it there has been no announcements of Hector getting his dosh.

PTBCAL does seem to have a line into Tynecastle, but I think he/she unwittingly simply regurgitates the party line. During the stadium redevelopment escapade for example, he often had valid information, but always insisted that the thing would be built (even though everyone could see that it was pie in the sky).

[The Falcon]

I've just had a look on JKB and the person who posted this is someone who appears to be relatively sensible and ITK - I would certainly expect him/her to know that the events he/she is predicting simply can't happen.

That smell I mentioned earlier just got a lot stronger.

Whilst UBIG's assets are frozen (and they are the main shareholder) what about UKIO? Surely UKIO have a security over the stadium and assets for £15m and it would be remiss of them to negotiate a deal which would see that amount drastically reduced. Even if some Yam consortium offered £7m this would still be less than half the value of the security. And thats before the other creditors (UBIG, HMRC) get a mention.

And even at £15m it is still someway short of the £60m-£70m that Hearts have cost the Lith bank.

[Caversham Green]

So, a brief summary...

Hearts season ticket sales are significantly down, suggestion that any bought on Credit Cards may result in the club not getting the money up front from CC companies.

Hearts state they have a week to find £100k or a face a winding up order over PAYE. Dates do not appear to add up according to our in house finance types.

Hearts beg for fans to buy season tickets to help pay this bill, no statement saying 'please only pay cash so we will have the money in hand' as they trotted out with the shares and other fundraising last season, so if we assume most people won't rock up with cash, any season tickets sold this week are unlikely to contribute to paying this 'bill.'

Further rumours of new owners and the like emerge. Fans encouraged to pay up for season tickets...


So yeah, something definitely stinks. Either they have the money to pay this bill, and are using the threat to try and ring more cash out of the puddle drinkers, or, there is no bill, and it's all an attempt at getting as much money out the fans as they can, notably prior to what some have suggested could be their last 'big' wage day, an attempt to get as much cash as they can in to pay that in order to avoid a transfer ban? Or to pull the plug before having to pay up?


Surely the Rev would make a statement of some sort if they are lying?

That's a decent summary of it all as far as I can see, but HMRC don't comment publicly on any taxpayer's affairs. They may put the squeeze on privately - I think they did when the share issue document made no mention of the tax liabilities - so HoMFC are undoubtedly playing a dangerous game, but these are clearly desperate times.

I'm now pretty much convinced that this tax bill (if it exists) was never going to produce a WUP unless HoMFC chose for it to do so. The next wages bill on the other hand....

[brog]

That's a decent summary of it all as far as I can see, but HMRC don't comment publicly on any taxpayer's affairs. They may put the squeeze on privately - I think they did when the share issue document made no mention of the tax liabilities - so HoMFC are undoubtedly playing a dangerous game, but these are clearly desperate times.

I'm now pretty much convinced that this tax bill (if it exists) was never going to produce a WUP unless HoMFC chose for it to do so. The next wages bill on the other hand....

Cav, I look forward to all your posts with great enjoyment but I think your conspiracy theory here is up there with 9/11 & Princess Di. Surely not even the Yams would be stupid enough to publicise a disastrous state of affairs which didn't exist & which could only land them in deeper doo doo with HMRC? OK, it is Yams so I guess anything is possible. Seriously though, I think this would be a scam too far, I totally agree the info doesn't add up but I suspect its probably just inaccuracies re dates rather than a deliberate misrepresentation though of course they're milking it for all they're worth. Surprised there's not another share issue TBH. !!!

[clerriehibs]

Cav, I look forward to all your posts with great enjoyment but I think your conspiracy theory here is up there with 9/11 & Princess Di. Surely not even the Yams would be stupid enough to publicise a disastrous state of affairs which didn't exist & which could only land them in deeper doo doo with HMRC? OK, it is Yams so I guess anything is possible. Seriously though, I think this would be a scam too far, I totally agree the info doesn't add up but I suspect its probably just inaccuracies re dates rather than a deliberate misrepresentation though of course they're milking it for all they're worth. Surprised there's not another share issue TBH. !!!

Frankly, I think CG's suppositions are far more likely to be near the mark than any possibility of homfc not being disingenuous.

[Caversham Green]

Whilst UBIG's assets are frozen (and they are the main shareholder) what about UKIO? Surely UKIO have a security over the stadium and assets for £15m and it would be remiss of them to negotiate a deal which would see that amount drastically reduced. Even if some Yam consortium offered £7m this would still be less than half the value of the security. And thats before the other creditors (UBIG, HMRC) get a mention.

And even at £15m it is still someway short of the £60m-£70m that Hearts have cost the Lith bank.

That's why transfer of ownership can never happen the way the Yams are proposing. Taking the company names out of the situation, Company A owns the club and is owed £10m, but it's assets have been frozen so it can't sell the club to anyone. On top of that, Company A has no directors so there would be no-one to authorise sale in any case. As a side point here, Company A also had no-one to authorise a vote at the AGM, so the re-election of Vladslad was probably unlawful.

However, even if Company A was able to sell the club and accept a write off of that £10m loan, Company B (which now has no connection to Company A) is still owed £15m and holds security over the club's assets. Any sale by Company A would have absolutely no effect on those circumstances. For as long as the club continues without admitting insolvency, Company B has no reason to accept any sort of deal in relation to that debt. The fact that Company B is in administration means that the administrator is duty-bound to refuse such a deal.

In short, it's virtually impossible for anyone to buy a debt-free HoMFC.

[matty_f]

Heard some interesting news earlier from a mate who, having bought a significant (in the thousands of pounds) amount of shares, has asked for his money back as no shares have been forthcoming.

The reply he got (I'll see if I can persuade him to let me scan and post it here, but I can't see him doing that) basically said that they are not in a position to cancel the transaction or return the money, nor are they able to guarantee that the shares will ever (yes, ever) be issued.

Needless to say he is livid about this and is taking legal advice on what to do next.

Still, #allisbarry eh?

[Caversham Green]

Cav, I look forward to all your posts with great enjoyment but I think your conspiracy theory here is up there with 9/11 & Princess Di. Surely not even the Yams would be stupid enough to publicise a disastrous state of affairs which didn't exist & which could only land them in deeper doo doo with HMRC? OK, it is Yams so I guess anything is possible. Seriously though, I think this would be a scam too far, I totally agree the info doesn't add up but I suspect its probably just inaccuracies re dates rather than a deliberate misrepresentation though of course they're milking it for all they're worth. Surprised there's not another share issue TBH. !!!

It's not as much of a risk as you might think. They're already on a hiding to nothing and HMRC can't do anything more than they've already done if the tax is finally paid up before the due date. It's worth noting that we're talking about people who are already heavily implicated in what looks like very serious financial fraud - their ringleader is allegedly being protected by a Chechen warlord ffs - and they are now in dire straits. Misleading the Gorgie public to squeeze a few more quid out of them is small potatoes.

[clerriehibs]

It's not as much of a risk as you might think. They're already on a hiding to nothing and HMRC can't do anything more than they've already done if the tax is finally paid up before the due date. It's worth noting that we're talking about people who are already heavily implicated in what looks like very serious financial fraud - their ringleader is allegedly being protected by a Chechen warlord ffs - and they are now in dire straits. Misleading the Gorgie public to squeeze a few more quid out of them is small potatoes.


Small sweet potatoes?

[Ozyhibby]

No big announcement that the bill has been paid today, so they are either going right to the wire or bluffing big time.

[fat freddy]

Heard some interesting news earlier from a mate who, having bought a significant (in the thousands of pounds) amount of shares, has asked for his money back as no shares have been forthcoming.

The reply he got (I'll see if I can persuade him to let me scan and post it here, but I can't see him doing that) basically said that they are not in a position to cancel the transaction or return the money, nor are they able to guarantee that the shares will ever (yes, ever) be issued.

Needless to say he is livid about this and is taking legal advice on what to do next.

Still, #allisbarry eh?


surely some mistake...did barry not tell us the share certificates would be sent out in april?....your jambo friend has probably just mislaid them somewhere..

[FranckSuzy]

Small sweet potatoes?

:greengrin :top marks

[robinp]

Heard some interesting news earlier from a mate who, having bought a significant (in the thousands of pounds) amount of shares, has asked for his money back as no shares have been forthcoming.

The reply he got (I'll see if I can persuade him to let me scan and post it here, but I can't see him doing that) basically said that they are not in a position to cancel the transaction or return the money, nor are they able to guarantee that the shares will ever (yes, ever) be issued.

Needless to say he is livid about this and is taking legal advice on what to do next.

Still, #allisbarry eh?

Can he not just claim back the money on his credit card, or did he not pay £1 by credit card.

[Ozyhibby]

That's why transfer of ownership can never happen the way the Yams are proposing. Taking the company names out of the situation, Company A owns the club and is owed £10m, but it's assets have been frozen so it can't sell the club to anyone. On top of that, Company A has no directors so there would be no-one to authorise sale in any case. As a side point here, Company A also had no-one to authorise a vote at the AGM, so the re-election of Vladslad was probably unlawful.

However, even if Company A was able to sell the club and accept a write off of that £10m loan, Company B (which now has no connection to Company A) is still owed £15m and holds security over the club's assets. Any sale by Company A would have absolutely no effect on those circumstances. For as long as the club continues without admitting insolvency, Company B has no reason to accept any sort of deal in relation to that debt. The fact that Company B is in administration means that the administrator is duty-bound to refuse such a deal.

In short, it's virtually impossible for anyone to buy a debt-free HoMFC.

Every time a little bit of doubt creeps into my head that they are not totally Donald ducked you seem to put my mind at ease. Keep up the good work.

[The Green Goblin]

Heard some interesting news earlier from a mate who, having bought a significant (in the thousands of pounds) amount of shares, has asked for his money back as no shares have been forthcoming.

The reply he got (I'll see if I can persuade him to let me scan and post it here, but I can't see him doing that) basically said that they are not in a position to cancel the transaction or return the money, nor are they able to guarantee that the shares will ever (yes, ever) be issued.

Needless to say he is livid about this and is taking legal advice on what to do next.

Still, #allisbarry eh?


Is that the same rocket on your facebook who was giving us the old "ah yes, here comes the accountant" and "you`re all talking pish" and "even if Hearts are playing in the Meadows next season I`ll still be laughing at Hibs"? :wink:

[Caversham Green]

Heard some interesting news earlier from a mate who, having bought a significant (in the thousands of pounds) amount of shares, has asked for his money back as no shares have been forthcoming.

The reply he got (I'll see if I can persuade him to let me scan and post it here, but I can't see him doing that) basically said that they are not in a position to cancel the transaction or return the money, nor are they able to guarantee that the shares will ever (yes, ever) be issued.

Needless to say he is livid about this and is taking legal advice on what to do next.

Still, #allisbarry eh?

They've already broken the law in respect of that share issue - those shares should have been registered no later than February.

Quite honestly, and taking off my green-tinted glasses, the behaviour of the HoMFC board over the last year absolutely disgusts me. They've cynically exploited the loyalty of the fans at every opportunity and are still doing so even now. They have destroyed a once respected Scottish football club and are continuing to milk it for all they can get before tossing it in the gutter. While some Hearts fans deserve no better, many do not. I hope your mate takes them to the cleaners - he has nothing left to lose.

[Andy74]

Heard some interesting news earlier from a mate who, having bought a significant (in the thousands of pounds) amount of shares, has asked for his money back as no shares have been forthcoming.

The reply he got (I'll see if I can persuade him to let me scan and post it here, but I can't see him doing that) basically said that they are not in a position to cancel the transaction or return the money, nor are they able to guarantee that the shares will ever (yes, ever) be issued.

Needless to say he is livid about this and is taking legal advice on what to do next.

Still, #allisbarry eh?

Interesting. A few senior guys at my work that sunk a fair bit of cash in that have also made recent requests to be refunded. They've been promised that its being looked into.

[poolman]

Heard some interesting news earlier from a mate who, having bought a significant (in the thousands of pounds) amount of shares, has asked for his money back as no shares have been forthcoming.

The reply he got (I'll see if I can persuade him to let me scan and post it here, but I can't see him doing that) basically said that they are not in a position to cancel the transaction or return the money, nor are they able to guarantee that the shares will ever (yes, ever) be issued.

Needless to say he is livid about this and is taking legal advice on what to do next.

Still, #allisbarry eh?


Shirley illegal that Mattie is it not ?

Interesting times ahead this summer

[matty_f]

Interesting. A few senior guys at my work that sunk a fair bit of cash in that have also made recent requests to be refunded. They've been promised that its being looked into.

They shouldn't expect a response in a hurry, Kev chased them for a while before he eventually got the response.

[Pretty Boy]

They shouldn't expect a response in a hurry, Kev chased them for a while before he eventually got the response.

Interesting.

A joiner at my work whos a , relatively decent, yam has enquired about rhe shares re issue of certificates and if they aren't forthcoming then a refund.

No reply as of yet.

[Dashing Bob S]

I don't think I've ever enjoyed myself in anything football-related, albeit in certain way, as I have reading Jambos Kickback today. If there are any Hearts fans looking in on this site, who contributed in any way, I seriously thank you.

[The Falcon]

In short, it's virtually impossible for anyone to buy a debt-free HoMFC.

Those of us who fear another Rangers type sting will focus on the bit in bold.

[7062]

They've already broken the law in respect of that share issue - those shares should have been registered no later than February.

Do you know why they've not been punished for this Cav?

[Part/Time Supporter]

Do you know why they've not been punished for this Cav?

Probably because nobody affected has made a complaint to L&B.

[7062]

Probably because nobody affected has made a complaint to L&B.

Thought it might have been a regulatory breach of whatever rules cover the purchase of shares and that whatever body covers this might have investigated it by now. It's been in the public domain for long enough.

[Aldo]

Probably because nobody affected has made a complaint to L&B.

Yes someone would have to make a complaint but after reading almost all of this thread and the one on the PM board the problem the police will have is where to start... Once opened I can guarantee it will be one huge massive can if worms. It's probably a hell of a lot more than 12.5 million that the mad one has embezzled.

Is there a paper trail ... Prob not
Where are the persons responsible ... Who knows.

Put it this way anyone and I repeat anyone who has bought shares are now finding out the hard way... That they are not worth the money they are written on and they are highly unlikely to see their money again.

[matty_f]

Yes someone would have to make a complaint but after reading almost all of this thread and the one on the PM board the problem the police will have is where to start... Once opened I can guarantee it will be one huge massive can if worms. It's probably a hell of a lot more than 12.5 million that the mad one has embezzled.

Is there a paper trail ... Prob not
Where are the persons responsible ... Who knows.

Put it this way anyone and I repeat anyone who has bought shares are now finding out the hard way... That they are not worth the money they are written on and they are highly unlikely to see their money again.

The thing is, my mate was never ever looking for a return on his money. It was an emotional investment but he expects to get what he paid for.

He's well off financially, buys season tickets for his family and even does the hospitality from time to time. Absolutely loves the club but hates the thought that he's had several thousand pounds taken for nothing.

[Kato]

Yes someone would have to make a complaint but after reading almost all of this thread and the one on the PM board the problem the police will have is where to start... Once opened I can guarantee it will be one huge massive can if worms. It's probably a hell of a lot more than 12.5 million that the mad one has embezzled.

Is there a paper trail ... Prob not
Where are the persons responsible ... Who knows.

Put it this way anyone and I repeat anyone who has bought shares are now finding out the hard way... That they are not worth the money they are written on and they are highly unlikely to see their money again.

Great punchline.

If the (more sensible) Jambos (i.e. those who are capable of buttoning their own shirts and don't piss their pants every time they need to go "wee-wee") are slooowwwwly now getting around to thinking about when their shares will be issued it might not be too long before someone chips in with an official complaint, expressed along the lines of "where's ma shay-urs yooz?" - things will get tasty if this comes to pass.

They've been reasonably solid as a support up to now, all it takes is a few splitters and it'll make World War Z look like Mary Poppins.

[jacomo]

The thing is, my mate was never ever looking for a return on his money. It was an emotional investment but he expects to get what he paid for.

He's well off financially, buys season tickets for his family and even does the hospitality from time to time. Absolutely loves the club but hates the thought that he's had several thousand pounds taken for nothing.

To be honest, he should have known better. Bet Fedotovas and Vlad were laughing their heads off as the free cash for the 'share issue' came in.

[matty_f]

To be honest, he should have known better. Bet Fedotovas and Vlad were laughing their heads off as the free cash for the 'share issue' came in.

It was a heart ruling the head purchase, as I suspect it was with anyone that bought them.

Don't think his Mrs is too pleased though :greengrin as I'm sure she had designs on the money!

[Aldo]

The thing is, my mate was never ever looking for a return on his money. It was an emotional investment but he expects to get what he paid for.

He's well off financially, buys season tickets for his family and even does the hospitality from time to time. Absolutely loves the club but hates the thought that he's had several thousand pounds taken for nothing.

He's one of the lucky ones. (If you get what i mean) I know guys who put some if their family savings in (cash) and just cannot believe this has happened. He was warned/advised but went ahead with it. He's about 1200 quid (maybe more) down. He's one of the 1-5 brigade etc

[matty_f]

He's one of the lucky ones. (If you get what i mean) I know guys who put some if their family savings in (cash) and just cannot believe this has happened. He was warned/advised but went ahead with it. He's about 1200 quid (maybe more) down. He's one of the 1-5 brigade etc

Kev has gone in for upwards of ten times that figure!!

Ouch!!

[Aldo]

Kev has gone in for upwards of ten times that figure!!

Ouch!!

Big time ouch. Vlad and the gang have well and truly dick Turpin'd the fans across the city alrite.

Some still cannae see it tho Matty.

[clerriehibs]

The thing is, my mate was never ever looking for a return on his money. It was an emotional investment but he expects to get what he paid for.

He's well off financially, buys season tickets for his family and even does the hospitality from time to time. Absolutely loves the club but hates the thought that he's had several thousand pounds taken for nothing.

no sympathy. It was obvious to my dug it was a rip off.

[CropleyWasGod]

no sympathy. It was obvious to my dug it was a rip off.

Can we get your dug to clear up a few issues on this thread?

[lapsedhibee]

Can we get your dug to clear up a few issues on this thread?

Nah, you CG and PTS are already providing plenty pointers.

[CropleyWasGod]

Nah, you CG and PTS are already providing plenty pointers.

We're hounding 'em. :cb

[Mr White]

no sympathy. It was obvious to my dug it was a rip off.

Totally agree. Anyone who fell for that scam must be barking mad and hoping to collar the perpetrators. Sad tail altogether.

[Jack Hackett]

I think it only fair that their support suffer financially for the small successes they enjoyed while their club was cheating with money they didn't have. I sincerely hope they continue to be ripped off, as it's pretty obvious they are stupid enough to fall for it.

[clerriehibs]

Totally agree. Anyone who fell for that scam must be barking mad and hoping to collar the perpetrators. Sad tail altogether.

The sooner a retriever is appointed, the better. Mind you, the bitching would really start then.

[Jack Hackett]

The sooner a retriever is appointed, the better. Mind you, the bitching would really start then.

Someone with a pug-nacious attitude, who won't roll over to have his belly tickled

[Mr White]

Someone with a pug-nacious attitude, who won't roll over to have his belly tickled

Yes, someone with pedigree willing to take the lead and put a stop to the cavalier financial approach of those lithuanian mongrels.

[mca]

I told a jambo workmate at the time - who put a few hundred in the pot.. id said - you wont see a penny of that again.. He decided to say recently that hearts were now debt free now and it was with his help... and that he would probably recoup a fortune from the shares... Aasked him if he had a certificate for the shares.. and he said.. NO... :greengrin:greengrin total archiehole

[brianmc]

Any chance we can get this thread back on track? (Chasing after a pesky hare, obviously!)

[Soldiersteve]

Any chance we can get this thread back on track? (Chasing after a pesky hare, obviously!)
My money would be on the Number 1 dog (Vlad) leading the field by doing a runner!

[PatHead]

Heard some interesting news earlier from a mate who, having bought a significant (in the thousands of pounds) amount of shares, has asked for his money back as no shares have been forthcoming.

The reply he got (I'll see if I can persuade him to let me scan and post it here, but I can't see him doing that) basically said that they are not in a position to cancel the transaction or return the money, nor are they able to guarantee that the shares will ever (yes, ever) be issued.

Needless to say he is livid about this and is taking legal advice on what to do next.

Still, #allisbarry eh?

Must admit I don't think he will have a leg to stand on. So far Hearts have always played the game to the limit. It would surely be cheaper to issue a few bits of paper rather than give money back. If they do it for him I am sure a lot of Jambos who have smelt the coffee would follow suit.

[bighairyfaeleith]

Must admit I don't think he will have a leg to stand on. So far Hearts have always played the game to the limit. It would surely be cheaper to issue a few bits of paper rather than give money back. If they do it for him I am sure a lot of Jambos who have smelt the coffee would follow suit.

they can't afford to do either though

[monktonharp]

note to admins; far too much sympathy posts for the plight of some fans from another club which has nowt to do wi' us.please sensor as reqd, and get the show back on the road!:greengrin

[Kato]

... and that he would probably recoup a fortune from the shares...

trumpet, standard jambo trumpet

[SaulGoodman]

When's the money due?

[lapsedhibee]

Must admit I don't think he will have a leg to stand on. So far Hearts have always played the game to the limit. It would surely be cheaper to issue a few bits of paper rather than give money back. If they do it for him I am sure a lot of Jambos who have smelt the coffee would follow suit.

Yes, they would shirley do it in spades.

[grunt]

they can't afford to do either thoughThere was a post on kb saying that some of the begging letters asking people to renew season tickets had been sent without stamps.

[Col2]

What I love the most about all the yam deluded stories is that they ALL start with bad news but they end up being the perfect outcome.

It's almost a template script they use like "yes things are bad at the moment and money is really really tight BUT the club are very close to a takeover that will clear the debt, not just some of it but ALL of it, just like that (Paul Daniels magic) AND we will stay at Tynecastle AND we will have enough cash flow to cover this season (as season tickets spent) AND we will be in for Boyd, Goodwillie, Davidson, Rudi etc etc."

None of this involves any insolvency event. It's almost as if the Lithuanian authorities are just more than happy to right off £45m of debt/forgiveness for about a £2m (less than 5%). All will happen nice and comfortably and be just in time for next season and enough time before transfer window shuts. It's so simple.

[clerriehibs]

It's still mostly "Mr" Romanov over there. Just what the heck is that all about?!? Was 'Call me Mister' one of his dictats?

[Treadstone]

What I love the most about all the yam deluded stories is that they ALL start with bad news but they end up being the perfect outcome.



I am not sure they have any concept of what £25m actually is. They are expecting the Janny (nae offence Poolman) from Chewin' the Fat to put some sawdust on it "gie it 10 minutes it'll be as right as rain".

[Spike Mandela]

In fairness, to the layman football fan, ALL football administrations end up with massive forgiveness or write off of debt. Even Rangers' liquidation and subsequent restart in the third division was successful in shedding of around £50m in debt. Pretty good day at the office that:rolleyes:

[hibeesdude]

so woke up early and decided to play with photoshop....no idea where this thought came from though :greengrin

10142

[Hermit Crab]

so woke up early and decided to play with photoshop....no idea where this thought came from though :greengrin

10142

The hunt for the red October.

[Col2]

In fairness, to the layman football fan, ALL football administrations end up with massive forgiveness or write off of debt. Even Rangers' liquidation and subsequent restart in the third division was successful in shedding of around £50m in debt. Pretty good day at the office that:rolleyes:

Yes but most of them think they can avoid an insolvency event but still get the same outcome.

[hibbypostie]

There was a post on kb saying that some of the begging letters asking people to renew season tickets had been sent without stamps. to be fair it happens a lot with bulk postings wouldn't put it past them to have a lot more than normal though

[Jack]

Having just had my first look over there for months I was struck by a parallel between us and them!

We get terribly excited at the thought of a never-ending list of disasters befalling them - NEXT WEEK.

They get terribly excited at the thought of a never-ending queue of investors and whatnot rescuing them - NEXT WEEK.

... and guess what?

SFA happens NEXT WEEK to kill the buggers off or take them off life support!

#allisbarry 5.1 1902 free beer tomorrow

[The Falcon]

Yes but most of them think they can avoid an insolvency event but still get the same outcome.

As has been shown at The Rangers an insolvency event, even liquidation, is hardly the end of the world for a football club. Rangers would have been more inconvenienced by being forced to continue, or at least their debts carried on.

As has been said they have pumped the creditors for about £60m (a wedge to the taxpayers in there) but a year on they play in blue, play at Ibrox, bought £60m of property for £1.5m and (should) have around £20m in the bank. They are two divisions of the top flight but this may change with reconstruction.

They are not in the top flight and, technically at least, the old club died but other than that there appears to be little practical diffence except they are now unencumbered by unmanageble debt. They are also overspending by about £1m a month and couldnt give a flying ****, and why would they when they can achieve quite legally the outcome described.

[Sanger]

As has been shown at The Rangers an insolvency event, even liquidation, is hardly the end of the world for a football club. Rangers would have been more inconvenienced by being forced to continue, or at least their debts carried on.

As has been said they have pumped the creditors for about £60m (a wedge to the taxpayers in there) but a year on they play in blue, play at Ibrox, bought £60m of property for £1.5m and (should) have around £20m in the bank. They are two divisions of the top flight but this may change with reconstruction.

They are not in the top flight and, technically at least, the old club died but other than that there appears to be little practical diffence except they are now unencumbered by unmanageble debt. They are also overspending by about £1m a month and couldnt give a flying ****, and why would they when they can achieve quite legally the outcome described.

Big difference is that Rangers had no secured creditors and have 50,000 season ticket holders.

[The Leith Dutch]

As has been shown at The Rangers an insolvency event, even liquidation, is hardly the end of the world for a football club. Rangers would have been more inconvenienced by being forced to continue, or at least their debts carried on.

As has been said they have pumped the creditors for about £60m (a wedge to the taxpayers in there) but a year on they play in blue, play at Ibrox, bought £60m of property for £1.5m and (should) have around £20m in the bank. They are two divisions of the top flight but this may change with reconstruction.

They are not in the top flight and, technically at least, the old club died but other than that there appears to be little practical diffence except they are now unencumbered by unmanageble debt. They are also overspending by about £1m a month and couldnt give a flying ****, and why would they when they can achieve quite legally the outcome described.

I suppose the big difference is The Rangers look like they're just about capable of both getting back to the SPL and surviving as a business in doing so. There's still the possibility of another administration mind and the thought of it makes me smile.

I think if the yams got punted to D3 becoming wee Sevco then they'd struggle however.

Much smaller supporter base and probably a higher percentage that wouldn't turn out for D3 games.
Less income combined with not being so attractive for players as big Sevco (both wages wise and as a club) would make buying their way back a less realistic proposition.

Looking at the way the other clubs made it reasonably difficult for Sally's mob you'd have to say that even if the yams did get a debt free newco together then they might just wind up stuck in the lower leagues.:aok:

[The Falcon]

Big difference is that Rangers had no secured creditors and have 50,000 season ticket holders.

We'll see.

But the point is that The Rangers are, to all practical intents and purposes, Rangers with £60m of debt dumped. They continue, more or less, as before with some technical legal differences which everybody generally ignores, and nobody cares, as they have little implication for the supporters of the club and minimal impact on their day to day activities.

As punishments go its like sending Hannibal Lecter to bed with no supper.

[Ozyhibby]

As has been shown at The Rangers an insolvency event, even liquidation, is hardly the end of the world for a football club. Rangers would have been more inconvenienced by being forced to continue, or at least their debts carried on.

As has been said they have pumped the creditors for about £60m (a wedge to the taxpayers in there) but a year on they play in blue, play at Ibrox, bought £60m of property for £1.5m and (should) have around £20m in the bank. They are two divisions of the top flight but this may change with reconstruction.

They are not in the top flight and, technically at least, the old club died but other than that there appears to be little practical diffence except they are now unencumbered by unmanageble debt. They are also overspending by about £1m a month and couldnt give a flying ****, and why would they when they can achieve quite legally the outcome described.

The difference with Hearts will be the stadium. It's secured to another entity in another country. As far as I know, none of the other football Insolvency's involve a situation like that. If Hearts go into admin, a potential purchaser is going to need £6m to buy Tynecastle, enough cash to satisfy a CVA proposal to Ubig and about £6m in working capital to get through next season. And it will all have to happen in the next 7 weeks.

[Treadstone]

The difference with Hearts will be the stadium. It's secured to another entity in another country. As far as I know, none of the other football Insolvency's involve a situation like that. If Hearts go into admin, a potential purchaser is going to need £6m to buy Tynecastle, enough cash to satisfy a CVA proposal to Ubig and about £6m in working capital to get through next season. And it will all have to happen in the next 7 weeks.

Brokeback will have some fairytale answer that will satisfy all of the above.

[The Falcon]

The difference with Hearts will be the stadium. It's secured to another entity in another country. As far as I know, none of the other football Insolvency's involve a situation like that. If Hearts go into admin, a potential purchaser is going to need £6m to buy Tynecastle, enough cash to satisfy a CVA proposal to Ubig and about £6m in working capital to get through next season. And it will all have to happen in the next 7 weeks.

This appears to be a ray of hope for all well run clubs.

My understanding, if I am reading CG, CWG and PTS correctly, is that a CVA is a non starter as all assets are secured to UKIO and would have to realise north of £15m before any non secured crditors (HMRC, UBIG and the pie shop) got a penny? Is this correct?

Under that scenario there would appear to be little point entering discussions with anyone other than UKIO.

[Gus Fring]

We'll see.

But the point is that The Rangers are, to all practical intents and purposes, Rangers with £60m of debt dumped. They continue, more or less, as before with some technical legal differences which everybody generally ignores, and nobody cares, as they have little implication for the supporters of the club and minimal impact on their day to day activities.

As punishments go its like sending Hannibal Lecter to bed with no supper.

As has been stated numerous times before, the Rangers situation is not a template for any other club, particuarly Hearts. What's happening at Hearts is orders of magnitude more complicated than anything that happened at Rangers. Things such as secured creditors, lithuanian administrators, lack of stadium, a considerably smaller support and an inability to recognise when they are beyond saving but keep going anyway.

Here's the major difference just now, that I (and others) keep repeating and that Hearts fans, the media and some posters here keep forgetting or deliberately overlooking. UBIG's assets are frozen! As it stands as of this moment nobody can buy Hearts. The majority shareholder of their parent company is "on the run" and wanted for asset embezzlement, which means those assets are unlikely to be defrosted any time soon.

[Col2]

Big difference is that Rangers had no secured creditors and have 50,000 season ticket holders.

Beat me to it. Also The Rangers while likely to be back in SPL 3 years after liquidation, are more realistically going to need at least another 3-5 years (6-8 in total) to be able to compete with Celtic.

[Alan62]

We'll see.

But the point is that The Rangers are, to all practical intents and purposes, Rangers with £60m of debt dumped. They continue, more or less, as before with some technical legal differences which everybody generally ignores, and nobody cares, as they have little implication for the supporters of the club and minimal impact on their day to day activities.

As punishments go its like sending Hannibal Lecter to bed with no supper.

An excellent simile, sir. :agree:

I spoke with a Jambo acquaintance yesterday. An intelligent, educated fellow. He said, 'It will be fine. We may have to have a year in the first division if the 15 points is applied but that's alright, we can cope with that. Long term, it will be fine."

I just stood there with my mouth open, unable to speak. Perhaps Hannibal's wee brother will get off with half an hour on the naughty step after all. Our greatest fear is that somehow all the cheats get to walk away unscathed while we get no reward for doing the right thing all these years.

[Sergey]

Having just had my first look over there for months I was struck by a parallel between us and them!

We get terribly excited at the thought of a never-ending list of disasters befalling them - NEXT WEEK.

They get terribly excited at the thought of a never-ending queue of investors and whatnot rescuing them - NEXT WEEK.

... and guess what?

SFA happens NEXT WEEK to kill the buggers off or take them off life support!

#allisbarry 5.1 1902 free beer tomorrow

Have you tried switching it off then switching it on again? I'll be honest, I'm no expert on life-support machines either.

[The Falcon]

As has been stated numerous times before, the Rangers situation is not a template for any other club, particuarly Hearts. What's happening at Hearts is orders of magnitude more complicated than anything that happened at Rangers. Things such as secured creditors, lithuanian administrators, lack of stadium, a considerably smaller support and an inability to recognise when they are beyond saving but keep going anyway.

Here's the major difference just now, that I (and others) keep repeating and that Hearts fans, the media and some posters here keep forgetting or deliberately overlooking. UBIG's assets are frozen! As it stands as of this moment nobody can buy Hearts. The majority shareholder of their parent company is "on the run" and wanted for asset embezzlement, which means those assets are unlikely to be defrosted any time soon.

I am aware of all that.

Nobody in their right mind would want to buy Hearts at the moment. UBIG are going to go and will soon be irrelevant and Hearts future will depend on dealing with UKIO's administrators.

[The Falcon]

Our greatest fear is that somehow all the cheats get to walk away unscathed while we get no reward for doing the right thing all these years.


Change "unscathed" to "relatively unscathed" and thats it, in a nutshell.

[Winston Ingram]

Found this

https://mobile.twitter.com/JKBmeltdown/tweets

Seems relatively new but quite amusing:greengrin

[Jack Hackett]

Found this

https://mobile.twitter.com/JKBmeltdown/tweets

Seems relatively new but quite amusing:greengrin

Some crackers on there

"This thread has just reinforced my view that if Romanov doesn't finish us, fan ownership will"

"If I was a Nigerian scammer, I'd be trying like a bear to get hold of hmfc's customer base....'hello my friend'

:faf:

[Winston Ingram]

Some crackers on there

"This thread has just reinforced my view that if Romanov doesn't finish us, fan ownership will"

"If I was a Nigerian scammer, I'd be trying like a bear to get hold of hmfc's customer base....'hello my friend'

:faf:

'Since UBIG and Ukio only have a material interest in recouping "something" it is time for new, independent directors'

:confused:

[Thecat23]

Just had a look on the Goodwillie thread, here is a quote from Russian Hats "Maybe we could be back in? Surely we can offer more percentage of wages than united? (Even though we are struggling financially)".

This is delusion at the highest! Unreal that they got in this mess paying huge wages, huge cuts having to happen yet this clown thinks they can still offer bigger wages!!

[Jack Hackett]

:confused:

As Teal'c would have said, while raising an eyebrow..."Indeed"


Off to the beach. Have a great day all :aok:

[Col2]

Just had a look on the Goodwillie thread, here is a quote from Russian Hats "Maybe we could be back in? Surely we can offer more percentage of wages than united? (Even though we are struggling financially)".

This is delusion at the highest! Unreal that they got in this mess paying huge wages, huge cuts having to happen yet this clown thinks they can still offer bigger wages!!

Thy just don't get it.

[Caversham Green]

This appears to be a ray of hope for all well run clubs.

My understanding, if I am reading CG, CWG and PTS correctly, is that a CVA is a non starter as all assets are secured to UKIO and would have to realise north of £15m before any non secured crditors (HMRC, UBIG and the pie shop) got a penny? Is this correct?

Under that scenario there would appear to be little point entering discussions with anyone other than UKIO.

A CVA could work by HoMFC keeping to the terms of the loan agreement with Ukio. UBIG could in theory vote through a CVA if a purchaser came in with enough money to pay the administrator's fee plus a dividend to the unsecured creditors, they'd then emerge from administration still 'owning' Tynie but with that £15m debt still in place. I think the Ukio administration is likely to take at least two years to complete so there's no need to realise the debt early, and even if that wasn't the case the Ukio administrator could sell on the debt at a discount - HoMFC would still owe the full £15m though.

That £15m is a huge problem for them. For as long as they stay out of administration they have very little hope of cutting a deal with Ukio's administrator - after all, they're holding themselves out to be capable of settling their debts as they fall due, so why would the administrator take any less than the full amount. If they do go into administration the debt either remains intact, new buyers have to buy Tynie in a separate (and unsympathetic) negotiation or they lose the place. And the debt has to be repaid in full in a little over two years. The 'share' issue was impressive in raising over a million, how are they going to raise fifteen times that by December 2015?

[Sanger]

A CVA could work by HoMFC keeping to the terms of the loan agreement with Ukio. UBIG could in theory vote through a CVA if a purchaser came in with enough money to pay the administrator's fee plus a dividend to the unsecured creditors, they'd then emerge from administration still 'owning' Tynie but with that £15m debt still in place. I think the Ukio administration is likely to take at least two years to complete so there's no need to realise the debt early, and even if that wasn't the case the Ukio administrator could sell on the debt at a discount - HoMFC would still owe the full £15m though.

That £15m is a huge problem for them. For as long as they stay out of administration they have very little hope of cutting a deal with Ukio's administrator - after all, they're holding themselves out to be capable of settling their debts as they fall due, so why would the administrator take any less than the full amount. If they do go into administration the debt either remains intact, new buyers have to buy Tynie in a separate (and unsympathetic) negotiation or they lose the place. And the debt has to be repaid in full in a little over two years. The 'share' issue was impressive in raising over a million, how are they going to raise fifteen times that by December 2015?


The debt to Ukio Bankas is much larger than the £15m direct loan if you take into account the indirect lending via UBIG. I shown previously on this thread it is at least £68.7m which a large proportion of what the Lithuanian state had to pump into UKio Bankas to make the depositors whole. That is why the Ukio Bankas held the stadium and 79% of HMFC shares as security. I doubt if The administrator would away with merely a discount on the £15m loan which would at best represent a discount of the sale value of Tynie. A very unattractive deal as you know HMFC will never pay you back and you can only realise your investment by making a very unpopular sale. Think the more likely outcome is once Ukio Bankas bankruptcy appeal falls and UBIG officially declared bankrupt the administrators see if there are any real bids out there that are close to the value of Tynie plus money for the club say £2m. If not then sell the ground and club separately. HMFC end up liquidated as they can't but HMFC and we end up with a new HMFC playing somewhere else and applying for league 3.

[ScottB]

As Teal'c would have said, while raising an eyebrow..."Indeed"


Off to the beach. Have a great day all :aok:

Never thought I'd see a Stargate reference here. Bravo :top marks

[The Green Goblin]

As Teal'c would have said, while raising an eyebrow..."Indeed"


Off to the beach. Have a great day all :aok:

Maybe that explains where Vlad has gone. That ominous rumbling sound which we all thought was Nade's tummy at lunchtime or the sound of Tynie threatening to collapse was in fact the undersoil stargate the mad one built with all that money to escape when this day finally arrived...

[Kaiser1962]

The debt to Ukio Bankas is much larger than the £15m direct loan if you take into account the indirect lending via UBIG. I shown previously on this thread it is at least £68.7m which a large proportion of what the Lithuanian state had to pump into UKio Bankas to make the depositors whole. That is why the Ukio Bankas held the stadium and 79% of HMFC shares as security. I doubt if The administrator would away with merely a discount on the £15m loan which would at best represent a discount of the sale value of Tynie. A very unattractive deal as you know HMFC will never pay you back and you can only realise your investment by making a very unpopular sale. Think the more likely outcome is once Ukio Bankas bankruptcy appeal falls and UBIG officially declared bankrupt the administrators see if there are any real bids out there that are close to the value of Tynie plus money for the club say £2m. If not then sell the ground and club separately. HMFC end up liquidated as they can't but HMFC and we end up with a new HMFC playing somewhere else and applying for league 3.

I am sure I read that only 29% of Hearts shares are security although the stadium and all the assets are secured to UKIO.

While Hearts have probably cost UKIO in the region of £70m the money was not loaned directly to Hearts, but came through UBIG, so its unlikely they can legally pursue Hearts for this, even if they wanted to.

[Jim44]

Maybe that explains where Vlad has gone. That ominous rumbling sound which we all thought was Nade's tummy at lunchtime or the sound of Tynie threatening to collapse was in fact the undersoil stargate the mad one built with all that money to escape when this day finally arrived...

Whenever I think of Vlad's disappearance, I can't help comparing it with the final scene in The Silence of The Lambs with Hannibal Lecter casually strolling down the street in Havana or wherever it was.

[CallumLaidlaw]

AllisBarry is now saying Hearts are guaranteed £100k compo for Novikovas. Why is this?

[The Green Goblin]

AllisBarry is now saying Hearts are guaranteed £100k compo for Novikovas. Why is this?

Because allisbarry :greengrin

Only positive news about Hearts allowed. Drop in the ocean and all that etc. Still, it will also give the lemmings an extra straw to clutch at as they tumble over the cliff...

[clerriehibs]

AllisBarry is now saying Hearts are guaranteed £100k compo for Novikovas. Why is this?

Because he's a wuckfit?

[Part/Time Supporter]

AllisBarry is now saying Hearts are guaranteed £100k compo for Novikovas. Why is this?

Barry says they offered Novikovas a contract on same (or better?) terms before he left. He's under 23 so they would be due training compensation at a tribunal if and when he signs somewhere else. Presumably the £100K figure is the amount intimated to Barry that they would accept.

[Gmack7]

AllisBarry is now saying Hearts are guaranteed £100k compo for Novikovas. Why is this?

did they offer him a new contract?if not they are getting HE HAW

[CyberSauzee]

Can I say I have just spent an enjoyable 45 mins or so catching up on this thread with a hair o' the dug in a boozer in North London. The barman thought I was losing it when I started laughing at the JKB Meltdown tweets.

If I can paraphrase a FTB: Never have so few given so much pleasure to so many.

[Gus Fring]

did they offer him a new contract?if not they are getting HE HAW

Yes apparently they offered him the same terms but he wanted to go. The Yams on Sickback, the EEN article and Twitter are now tuggin themselves into a frenzy that this pays the Tax bill. Which of course, it doesn't for a number of reasons.

1) The fee only applies if he signs for someone outside Scotland

2) He would need to sign for someone before Tuesday

3) The money is incredibly unlikely to be processed that quickly even if he signed for another team right now.

4) I wouldn't be surprised if there was no Tax bill, or it was deliberately witheld to drum up season ticket sales.

[greenginger]

Yes apparently they offered him the same terms but he wanted to go. The Yams on Sickback, the EEN article and Twitter are now tuggin themselves into a frenzy that this pays the Tax bill. Which of course, it doesn't for a number of reasons.

1) The fee only applies if he signs for someone outside Scotland

2) He would need to sign for someone before Tuesday

3) The money is incredibly unlikely to be processed that quickly even if he signed for another team right now.

4) I wouldn't be surprised if there was no Tax bill, or it was deliberately witheld to drum up season ticket sales.


http://www.heartsfc.co.uk/articles/20130531/arvydas-adds-to-departures_2241384_3195624

No mention of any offer to the player here. :confused:

More desperate wishing.

[Off the bar]

Yes apparently they offered him the same terms but he wanted to go. The Yams on Sickback, the EEN article and Twitter are now tuggin themselves into a frenzy that this pays the Tax bill. Which of course, it doesn't for a number of reasons.

1) The fee only applies if he signs for someone outside Scotland

2) He would need to sign for someone before Tuesday

3) The money is incredibly unlikely to be processed that quickly even if he signed for another team right now.

4) I wouldn't be surprised if there was no Tax bill, or it was deliberately witheld to drum up season ticket sales.

5) does'nt the compensation have to be agreed between the 2 clubs or by an independant arbitrator. no guarentees it would come out at 100k.

yet more pull a number out the air yamanomics

[Jack Hackett]

http://www.heartsfc.co.uk/articles/20130531/arvydas-adds-to-departures_2241384_3195624

No mention of any offer to the player here. :confused:

More desperate wishing.


:tsk tsk:

1-5
1902
#allisbarry

[Part/Time Supporter]

5) does'nt the compensation have to be agreed between the 2 clubs or by an independant arbitrator. no guarentees it would come out at 100k.

yet more pull a number out the air yamanomics

Oldco Huns (eventually) paid £150K for Sone Aluko to Aberdeen in a similar situation. But that example shows that the move can drag out because there will be a fee to pay and the interested club(s) may not be willing (or able) to pay it.

http://www.dailymail.co.uk/sport/football/article-2066407/Rangers-paid-Sone-Aluko-says-manager-Ally-McCoist.html


Yes apparently they offered him the same terms but he wanted to go. The Yams on Sickback, the EEN article and Twitter are now tuggin themselves into a frenzy that this pays the Tax bill. Which of course, it doesn't for a number of reasons.

1) The fee only applies if he signs for someone outside Scotland

2) He would need to sign for someone before Tuesday

3) The money is incredibly unlikely to be processed that quickly even if he signed for another team right now.

4) I wouldn't be surprised if there was no Tax bill, or it was deliberately witheld to drum up season ticket sales.

The first point is wrong, as per above.

We'll find out on Monday if the fourth point is correct. I think that would be a step too far, even for them.

[truehibernian]

Oldco Huns (eventually) paid £150K for Sone Aluko to Aberdeen in a similar situation. But that example shows that the move can drag out because there will be a fee to pay and the interested club(s) may not be willing (or able) to pay it.

http://www.dailymail.co.uk/sport/football/article-2066407/Rangers-paid-Sone-Aluko-says-manager-Ally-McCoist.html



The first point is wrong, as per above.

We'll find out on Monday if the fourth point is correct. I think that would be a step too far, even for them.

Either that or you could ask a non Hearts minded journalist to ask Novikovas and his agent whether he had been offered a contract - personally I think he was released with no such offer on the table. More bluff from Hearts, spun by Beaker.

[Gus Fring]

Either that or you could ask a non Hearts minded journalist to ask Novikovas and his agent whether he had been offered a contract - personally I think he was released with no such offer on the table. More bluff from Hearts, spun by Beaker.

:faf:

[Onceinawhile]

Yes apparently they offered him the same terms but he wanted to go. The Yams on Sickback, the EEN article and Twitter are now tuggin themselves into a frenzy that this pays the Tax bill. Which of course, it doesn't for a number of reasons.

1) The fee only applies if he signs for someone outside Scotland

2) He would need to sign for someone before Tuesday

3) The money is incredibly unlikely to be processed that quickly even if he signed for another team right now.

4) I wouldn't be surprised if there was no Tax bill, or it was deliberately witheld to drum up season ticket sales.

Fee only applies if he signs for someone in Scotland is it not? Hence the reason Taiwo cost us nothing.

[frazeHFC]

Fee only applies if he signs for someone in Scotland is it not? Hence the reason Taiwo cost us nothing.



This report makes it seem like it's the opposite, although I had thought it was what you say.

http://www.scotsman.com/sport/football/spl/hearts-set-to-profit-from-arvydas-novikovas-exit-1-2960216

[Saorsa]

This report makes it seem like it's the opposite, although I had thought it was what you say.

http://www.scotsman.com/sport/football/spl/hearts-set-to-profit-from-arvydas-novikovas-exit-1-2960216That report is written by a complete tool though.

[robinp]

That report is written by a complete tool though.

From Fifa transfer regs:

1. Training compensation is due when:
i. a player is registered for the first time as a professional; or
ii. a professional is transferred between clubs of two different associations (whether during or at the end of his contract) before the end of the season of his 23rd birthday.

and

3. If the former club does not offer the player a contract, no training compensation is payable unless the former club can justify that it is entitled
to such compensation. The former club must offer the player a contract in writing via registered post at least 60 days before the expiry of his current contract. Such an offer shall furthermore be at least of an equivalent value to the current contract. This provision is without prejudice to the right to training compensation of the player’s previous club(s).

[Part/Time Supporter]

Fee only applies if he signs for someone in Scotland is it not? Hence the reason Taiwo cost us nothing.

No. Carlisle initially demanded money for him, but eventually gave in because Hibs would have been able to sign him for nothing in February 2013 (his 23rd birthday) anyway. The difference in the rule is international moves are free at 23, within the same country is 24. With respect to Taiwo, that gave Hibs an advantage over English teams because they could not have signed him for free for another year.

[Part/Time Supporter]

From Fifa transfer regs:

1. Training compensation is due when:
i. a player is registered for the first time as a professional; or
ii. a professional is transferred between clubs of two different associations (whether during or at the end of his contract) before the end of the season of his 23rd birthday.

and

3. If the former club does not offer the player a contract, no training compensation is payable unless the former club can justify that it is entitled
to such compensation. The former club must offer the player a contract in writing via registered post at least 60 days before the expiry of his current contract. Such an offer shall furthermore be at least of an equivalent value to the current contract. This provision is without prejudice to the right to training compensation of the player’s previous club(s).

That makes BAnderson's story a bit odd. He was speculating in mid May that Hearts were deciding whether to offer Novikovas a contract to give them a right to compensation. Now he says that they offered him a contract before he left at the end of May.

http://www.scotsman.com/edinburgh-evening-news/football/top-stories/hearts-in-deal-bid-for-arvydas-novikovas-fee-1-2932474

http://www.scotsman.com/sport/football/spl/hearts-set-to-profit-from-arvydas-novikovas-exit-1-2960216

Either his first story was bollocks and they had already offered Novikovas a contract (in which case they would be entitled), or his second story is bollocks because they haven't offered him a contract more than 60 days before expiry.

[green glory]

Twitter convo I had earlier.


@The_FoH: Local print media, can you publish #FOH Open Q&A meeting details please? Thanks @BarryAnderson_8 @stuart_bathgate @StrachanColleen

@jj_bruce: @The_FoH @BarryAnderson_8 @stuart_bathgate @StrachanColleen When will the fans shares be registered with companies house? #scam

@The_FoH: @jj_bruce @BarryAnderson_8 @stuart_bathgate @StrachanColleen It's due to happen on 5th January at 2 mins past 7 in the evening 5/1 19:02

@jj_bruce: @The_FoH @BarryAnderson_8 @stuart_bathgate @StrachanColleen Great banter, but they should have been registered within a month of the issue!

@stuart_bathgate: @jj_bruce Latest from club is that certificates will be posted out "soon". They may need a little encouragement to hurry up a bit.

@jj_bruce: @The_FoH @BarryAnderson_8 @stuart_bathgate @StrachanColleen It's too late, they haven't been registered at Companies House. 30 day deadline

They're beyond help.

[greenginger]

http://www1.skysports.com/football/news/11790/8744495/Hearts-winger-Arvydas-Novikovas-will-not-be-offered-a-new-deal-at-Tynecastle



Sky Sports reported no new deal for Novikovas.

[green glory]

http://www1.skysports.com/football/news/11790/8744495/Hearts-winger-Arvydas-Novikovas-will-not-be-offered-a-new-deal-at-Tynecastle

Sky Sports reported no new deal for Novikovas.

So no cash.

[Treadstone]

Twitter convo I had earlier.


@The_FoH: Local print media, can you publish #FOH Open Q&A meeting details please? Thanks @BarryAnderson_8 @stuart_bathgate @StrachanColleen

@jj_bruce: @The_FoH @BarryAnderson_8 @stuart_bathgate @StrachanColleen When will the fans shares be registered with companies house? #scam

@The_FoH: @jj_bruce @BarryAnderson_8 @stuart_bathgate @StrachanColleen It's due to happen on 5th January at 2 mins past 7 in the evening 5/1 19:02

@jj_bruce: @The_FoH @BarryAnderson_8 @stuart_bathgate @StrachanColleen Great banter, but they should have been registered within a month of the issue!

@stuart_bathgate: @jj_bruce Latest from club is that certificates will be posted out "soon". They may need a little encouragement to hurry up a bit.

@jj_bruce: @The_FoH @BarryAnderson_8 @stuart_bathgate @StrachanColleen It's too late, they haven't been registered at Companies House. 30 day deadline

They're beyond help.

The immaturity of FoH . Pathetic. These are the guys placing themselves as the only hope. They're doomed.

[Frazerbob]

Was it not reported a few months back that Novikovas had signed a pre-contract with some Polish club or am I going mad?

[Kojock]

Was it not reported a few months back that Novikovas had signed a pre-contract with some Polish club or am I going mad?

Quote from Novikovas in March


“I don’t know anything about what will happen. There were talks about Lech Poznan but I think it is just nonsense. Nobody has spoken to me from their side so I don’t know where these rumours came from.”

At least you aint going mad

[monktonharp]

was there not something in the detail, that he had to be offered IN WRITING 60 days before his contract expiry anyway:confused:

[monktonharp]

60 days is a hellava long time, in Gorgie terms.

[The Green Goblin]

I watched this documentary tonight about Notts County: http://www.youtube.com/watch?v=dAbJGgDnk7U

It was broadcast in 2009. There were so many eerily relevant soundbites from the programme I couldn`t believe it. Here are the main ones from the programme below - (smileys are aimed at the uncanny coincidence to the yams, so no offence to any Notts County fans on the board)


"Tonight on Panorama, the fraudster who stole a football club and broke a bank"

"I wanted to believe what he told me, which is, everybody`s going to be rich out of this, everybody`s going to make a lot of money"

"We need to find them, and nobody knows where they are (:greengrin) and they basically ruined our football club"

"This is the story of an extraordinary fraud. Celebrities, bankers and politicians were duped. The great, the good and the not so good were taken for a ride, tempted by tales of foreign gold"

"Their first big signing, was the former England manager. Suddenly, it seemed, the good times had come [to Meadow Lane]. Star players arrived. It was all happening so quickly, few stopped to think where the money was coming from".

SGEriksson: "In the beginning, everything was perfect, beautiful"

Q. When did you begin to have doubts? SGE: "I started to have doubts when they were coming to me and saying that the milk bill has not been paid.

"The milkman wasn`t the only one chasing an unpaid bill. Everything was on credit"

Fan: "all those promises when they come in, they said they were going to do this, they said they were going to do that and they left us with all this debt" :faf:

"but one name seemed to come up again and again" :wink:

"The investigation is still going on, but....[King] has vanished" :lurksub:

"He was in the background pulling the strings and I don`t think there was anybody at the football club in any doubt that he was the man in control"

"[He] also fooled the Football League. Without checking, they approved the wanted fraudster as a fit and proper person to own Notts County"

SGE - on his visit to North Korea on behalf of the owner: "I was in the palace there and they were handing over to the North Korean government, so called shares. I asked them how much that was and what was that? because at the same time we couldn`t pay the milk bill at Notts County"

"What gave the deal credibility, was the backing of First London [bank]"

"When the cash failed to arrive, the trillion dollar con started to unravel. The game was up...he disappeared" :faf:

"But it didn`t work out. The bank...has gone into administration" :cb

"Notts County was also left on the verge of administration...County were left 7 million in the red. The new chairman has discovered unusual payments...."

"It was the oldest trick in the game. People believed in the promise of riches when in reality, there were none" :agree:


Absolutely uncanny....amazing.

GG

[Platinum Scotty]

I watched this documentary tonight about Notts County: http://www.youtube.com/watch?v=dAbJGgDnk7U

It was broadcast in 2009. There were so many eerily relevant soundbites from the programme I couldn`t believe it. Here are the main ones from the programme below - (smileys are aimed at the uncanny coincidence to the yams, so no offence to any Notts County fans on the board)


"Tonight on Panorama, the fraudster who stole a football club and broke a bank"

"I wanted to believe what he told me, which is, everybody`s going to be rich out of this, everybody`s going to make a lot of money"

"We need to find them, and nobody knows where they are (:greengrin) and they basically ruined our football club"

"This is the story of an extraordinary fraud. Celebrities, bankers and politicians were duped. The great, the good and the not so good were taken for a ride, tempted by tales of foreign gold"

"Their first big signing, was the former England manager. Suddenly, it seemed, the good times had come [to Meadow Lane]. Star players arrived. It was all happening so quickly, few stopped to think where the money was coming from".

SGEriksson: "In the beginning, everything was perfect, beautiful"

Q. When did you begin to have doubts? SGE: "I started to have doubts when they were coming to me and saying that the milk bill has not been paid.

"The milkman wasn`t the only one chasing an unpaid bill. Everything was on credit"

Fan: "all those promises when they come in, they said they were going to do this, they said they were going to do that and they left us with all this debt" :faf:

"but one name seemed to come up again and again" :wink:

"The investigation is still going on, but....[King] has vanished" :lurksub:

"He was in the background pulling the strings and I don`t think there was anybody at the football club in any doubt that he was the man in control"

"[He] also fooled the Football League. Without checking, they approved the wanted fraudster as a fit and proper person to own Notts County"

SGE - on his visit to North Korea on behalf of the owner: "I was in the palace there and they were handing over to the North Korean government, so called shares. I asked them how much that was and what was that? because at the same time we couldn`t pay the milk bill at Notts County"

"What gave the deal credibility, was the backing of First London [bank]"

"When the cash failed to arrive, the trillion dollar con started to unravel. The game was up...he disappeared" :faf:

"But it didn`t work out. The bank...has gone into administration" :cb

"Notts County was also left on the verge of administration...County were left 7 million in the red. The new chairman has discovered unusual payments...."

"It was the oldest trick in the game. People believed in the promise of riches when in reality, there were none" :agree:


Absolutely uncanny....amazing.

GG

That is really uncanny......the similarities are there for sure.

[Kaiser1962]

The immaturity of FoH . Pathetic. These are the guys placing themselves as the only hope. They're doomed.

Every time you might be feeling a wee pang of sympathy for them they come out with nonsense like that and you think......nah!

They are expecting two things to happen without them having to actually do anything. The first being that someone is out there with millions to waste just waiting for the glory and status of squandering it on Hearts. The second is that they expect, almost demand, that the Liths just roll over and write of £70m for the glory of having been allowed to be associated with the thieves that are HMFC. The Lith Government (their ambassador) and British Government (Ian Murray ) have held discussions at the highest level and it would would have serious consequences for the European Union if Lithuania brought down Hearts by having the shear audacity to ask them to pay their dues.

Barry Anderson's reporting has become even more of an embarassment to the point he now makes the objectionable Jim Traynor appear objective.

[Hermit Crab]

You want a laugh??

@RudiSkacel51: I am backing the Foundation of Hearts! http://t.co/zxQoZ6Nr54

Although I suspect this is probably a fake account.

[Hibby D]

You want a laugh??

@RudiSkacel51: I am backing the Foundation of Hearts! http://t.co/zxQoZ6Nr54

Although I suspect this is probably a fake account.

I believe that is indeed his real account.


Foundation of Hearts
Just to clarify as we've had a couple of queries - the 14 June Q&A meeting at the Gorgie Suite (7.30pm) is free. Just email your name and address through to us at [email protected]. Capacity is 300 so first come first served for the tickets. Thanks.

Anyone free? :whistle:

[truehibernian]

You want a laugh??

@RudiSkacel51: I am backing the Foundation of Hearts! http://t.co/zxQoZ6Nr54

Although I suspect this is probably a fake account.

Personally hoping that they re-sign 'The Nose' so beating them again next season is all the sweeter :agree:

[#FromTheCapital]

Personally hoping that they re-sign 'The Nose' so beating them again next season is all the sweeter :agree:

Personally I'd rather the vermin **** just disappeared off the face of the earth along with the pishy wee football team he claims to love so much. Complete and utter filth

[The Falcon]

Anyone free? :whistle:

They (FOH and a majority of fans) think this is a fait accompli and that the Lithuanians will accept a tenner and hand everything over to FOH debt free. I think that they really do believe this.


Personally I'd rather the vermin **** just disappeared off the face of the earth along with the pishy wee football team he claims to love so much. Complete and utter filth

He loved them so much he went to United for £30pw more than Hearts offered. Was due to re-sign at the end of January but the offer was (ever so slightly) less again so he didnt sign. Diehard so he is.

[#FromTheCapital]

He loved them so much he went to United for £30pw more than Hearts offered. Was due to re-sign at the end of January but the offer was (ever so slightly) less again so he didnt sign. Diehard so he is.

The only reason he didn't sign for them was because they had a transfer ban. He was hanging around Tynecastle like an abandoned mutt for at least a month before he signed for Utd. At the time it wasn't public knowledge that they had a ban on signing players.

[The Falcon]

The only reason he didn't sign for them was because they had a transfer ban. He was hanging around Tynecastle like an abandoned mutt for at least a month before he signed for Utd. At the time it wasn't public knowledge that they had a ban on signing players.

Nothing to stop him signing now if he was keen.

Edit; Do signing bans only apply to new players brought in? I thought you could renew an existing contract?

[truehibernian]

They (FOH and a majority of fans) think this is a fait accompli and that the Lithuanians will accept a tenner and hand everything over to FOH debt free. I think that they really do believe this.



He loved them so much he went to United for £30pw more than Hearts offered. Was due to re-sign at the end of January but the offer was (ever so slightly) less again so he didnt sign. Diehard so he is.

That's not true bud - he was due to sign midweek and on the Sunday prior, in the hospitality suites he was very clear he was signing for Hearts. Hearts played that Sunday v 'Well. Dundee Utd came in when it was clear the embargo was being extended. I know because a friend talked to The Snozzel that Sunday during and after the game.

[The Falcon]

That's not true bud - he was due to sign midweek and on the Sunday prior, in the hospitality suites he was very clear he was signing for Hearts. Hearts played that Sunday v 'Well. Dundee Utd came in when it was clear the embargo was being extended. I know because a friend talked to The Snozzel that Sunday during and after the game.

Accepted but I prefer the version I was told :greengrin

[Hermit Crab]

I believe that is indeed his real account.



Anyone free? :whistle:

Real account is it? What a knob.

[#FromTheCapital]

Nothing to stop him signing now if he was keen.

Edit; Do signing bans only apply to new players brought in? I thought you could renew an existing contract?

Yes I think he is a free agent at the moment.

It was a player registration ban they had. Beaks contract with hearts had expired last summer so they would've needed to re-register him.

[SaulGoodman]

**** the hearts

[crewetollhibee]

Just a quick thought on these so called high-level discussions between Murray and the Lith govt/ambassador. Wouldn't it be better for the Lithuanian gov't (from the European parliament perspective), to be doing the exact opposite of what Murray is looking for; i.e pursuing non-payers and actively distancing themselves from any (alleged) corruption/money laundering/criminal behaviour.

[Dashing Bob S]

Dammed ironic that, without Hearts, the Lithuanians would now be cowering under the jackboot of Nazi tyranny, instead of having the freedom to make complex financial transactions and subsequently investigate them.

They should lay of the Edinburgh club, and realise that, with two world wars under their belts, Hearts are entitled to a fair shake of the stick. There are 400,000 bloody heroes out there, and it's time we all lended that unfortunate club a helping hand instead of trying to hammer more nails into it's coffin.













On the other hand...

[JoeTortolanoFanClub]

Just a quick thought on these so called high-level discussions between Murray and the Lith govt/ambassador. Wouldn't it be better for the Lithuanian gov't (from the European parliament perspective), to be doing the exact opposite of what Murray is looking for; i.e pursuing non-payers and actively distancing themselves from any (alleged) corruption/money laundering/criminal behaviour.

Indeed. And why on earth they would want to deal with a politician from an opposition party is another mystery.

[Hibbyradge]

Dammed ironic that, without Hearts, the Lithuanians would now be cowering under the jackboot of Nazi tyranny, instead of having the freedom to make complex financial transactions and subsequently investigate them.
.

:faf:

:thumbsup:

[essexhibee]

So have they paid this 100k bill yet? And when are they meant to have paid it by?

[Sanger]

Just a quick thought on these so called high-level discussions between Murray and the Lith govt/ambassador. Wouldn't it be better for the Lithuanian gov't (from the European parliament perspective), to be doing the exact opposite of what Murray is looking for; i.e pursuing non-payers and actively distancing themselves from any (alleged) corruption/money laundering/criminal behaviour.

Lithuania have to borrow £200 million to ensure ordinary depositors in Ukio Bankas are not bankrupted and HMFC run up near £70 million direct and unrepayable debt to Ukio Bankas. Of course the Lithuanian state will write off HMFC debts!

[Hermit Crab]

So have they paid this 100k bill yet? And when are they meant to have paid it by?

Think they have to pay it by tomorrow. Nobody knows if its been paid yet.

[greenginger]

Think they have to pay it by tomorrow. Nobody knows if its been paid yet.


M P. Murray had a word with the Lithuanians about this bill too. So as not to upset the Brits they are going to take care of it. :greengrin

[Onceinawhile]

Think they have to pay it by tomorrow. Nobody knows if its been paid yet.

We would know if it had been paid by now. Hearts aren't slow to shout about it. I'd imagine they'll get a winding up notice giving them 10 days to pay, and they'll pay on the 9th day

[SkintHibby]

Hearts fann on my facebook....

"I'd rather support a club in a wee bit of financial trouble than be a Hibby".

:faf:

[degenerated]

Hearts fann on my facebook....

"I'd rather support a club in a wee bit of financial trouble than be a Hibby".

:faf:

I'd rather they did that too :agree:

[sidneyhibbie]

What amazes me most is the sheer denial they go on as if their is no problems talking about signing this player and that player and the clowns running the show are constantly telling lies they say they are trying to get this 100k together and if they do then whats next the wages and a 2.5 million black hole in next seasons budget, and as for the Elephants in the room they never mention UBIG Will be in Admin by the end off this month and Ukio already are with 25 million due, plus another 1 million due to Hector and if they survive till the season starts ( which i doubt very much ) they will be handed a 15 points deduction.
They have no money to sign any new players and probably cant even pay the ones that are left.:greengrin

[Pretty Boy]

Had a wee chat with the guy at my work who was querying the shares today.

I, discreetly, tried to get as much info as possible from him.

He claims his 'investment' was at the lower end of the scale, was the minimum £100? Apparently he has sent numerous emails and a few paper letters but has had no reply. He's also phoned asking about the certificate and has been put on hold and left to wait until he finally hangs up, longest he held on one day was 'just under 2 hours'.

He was saying he feels quite guilty making a fuss but it's a matter of principle for him now. If they had asked him for a donation he would have contributed but he is now convinced he has been scammed and wants his money back/answers.

Almost felt sorry for him.

[grunt]

He was saying he feels quite guilty making a fuss but it's a matter of principle for him now. If they had asked him for a donation he would have contributed but he is now convinced he has been scammed and wants his money back/answers.

He clearly didn't read the prospectus then, as it was crystal clear that these shares were effectively worthless, and this was nothing other than a fancy way of making a donation. How much does your friend think a share in a company with 8 years straight losses, £25m debt and £7m turnover is worth?

[Pretty Boy]

He clearly didn't read the prospectus then, as it was crystal clear that these shares were effectively worthless, and this was nothing other than a fancy way of making a donation. How much does your friend think a share in a company with 8 years straight losses, £25m debt and £7m turnover is worth?

I think he was aware it was worthless, much like the shares you can buy in Hibs are 'worthless' but he still wants the certificate to prive he is a shareholder.

If there had been no mention of shares, he still would have donated was his point I think.

He is a yam though so who knows, and 'friend' is stretching it.

[PapillonVert]

Hearts fann on my facebook....

"I'd rather support a club in a wee bit of financial trouble than be a Hibby".

:faf:

Each to his own.

[Part/Time Supporter]

Hearts fann on my facebook....

"I'd rather support a club in a wee bit of financial trouble than be a Hibby".

:faf:

I thought the Jambo line was that Hibs were in as much financial trouble as Hearts, if not more.

Obviously this one didn't get the memo.

:agree:

[Treadstone]

He's also phoned asking about the certificate and has been put on hold and left to wait until he finally hangs up, longest he held on one day was 'just under 2 hours'.

He was saying he feels quite guilty making a fuss but it's a matter of principle for him now. If they had asked him for a donation he would have contributed but he is now convinced he has been scammed and wants his money back/answers.


Office receiving phone call.

http://tx.english-ch.com/teacher/trina/rex-business-people-laughing-in-office.jpg

[kdhibees1]

Office receiving phone call.

http://tx.english-ch.com/teacher/trina/rex-business-people-laughing-in-office.jpg Tee Hee :faf:

[Springbank]

Office receiving phone call.

http://tx.english-ch.com/teacher/trina/rex-business-people-laughing-in-office.jpg

Curse those speakerphones!
Probably bought them knocked-off from some hibsman-reading hobo an aw

[Dashing Bob S]

I'm hoping this forthcoming week brings more bad news for our Gorgoid chums.

[cad]

I think he was aware it was worthless, much like the shares you can buy in Hibs are 'worthless' but he still wants the certificate to prive he is a shareholder.

If there had been no mention of shares, he still would have donated was his point I think.

He is a yam though so who knows, and 'friend' is stretching it.



Do you think he might be interested in some magic beans ,I know he`s been stung with the shares thing , but this guy Jack I know swears by them ,
life changing he said .

[Jack]

Do you think he might be interested in some magic beans ,I know he`s been stung with the shares thing , but this guy Jack I know swears by them ,
life changing he said .

The cow was minging anyway.

[HH81]

Is today the day when the tax bill has to be paid :confused:

[KdyHby]

Is today the day when the tax bill has to be paid :confused:

http://m.scotsman.com/sport/football/top-football-stories/hearts-facing-tax-deadline-over-100k-bill-1-2960799

[kaimendhibs]

Self sufficient ha. Hope they get slammed today but have a horrible feeling they will somehow manage to slip the hook again.


Sent from my iPhone using Tapatalk

[Hibernia Na Eir]

Hearts fann on my facebook....

"I'd rather support a club in a wee bit of financial trouble than be a Hibby".

:faf:

their support would appear not to work. I love seeing them continually fleeced by their owners hahaha

[Aldo]

I am more than certain that if it had been paid we'd know about it.

Self sufficient ma arse

Ps it'll get paid that lot seem to squirm out of everything.

[CallumLaidlaw]

If its to be paid by 5pm, they'll pay it at 4.59pm. They've probably had the cash all along to pay it

[lord bunberry]

If its to be paid by 5pm, they'll pay it at 4.59pm. They've probably had the cash all along to pay it

I suspect they have had the money all along as well. If they didn't have the money they wouldn't have waited until the day it was due to try and get the fans to stump up.
Last season they declaired that they needed 1.8m plus a full house every home game to make it to the end off the season, they gor neither yet still managed to make it to the end of the season. They obviously have cash flow issues but I doubt that they are as bad as they are making out. It will be events in Lithuanian that will finish them.

[Part/Time Supporter]

A couple of random thoughts:

The initial story must have been leaked by Hearts. HMRC wouldn't comment on an individual taxpayer (least of all to the Sun) and there still isn't any public record of the debt as no court papers have been filed.

Which begs the question why would they leak it? The answer seems fairly obvious to me: it gives the fans more warning time. If they had woken up tomorrow with the first they'd heard of this story being that HMRC had filed a WUP, they would only have 10 days left to save the club.

As Cav has pointed out above, most sales transactions take a few days before the funds get to the bank account, effectively reducing that period to a week (or less). So by leaking the story to the Sun a week (or thereabouts) in advance, they hope to give the fans more time to get their cakes baked.


http://m.scotsman.com/sport/football/top-football-stories/hearts-facing-tax-deadline-over-100k-bill-1-2960799

That is a rehash of earlier reports, probably written by a staff writer (there is no byline to the article). It doesn't tell us anything new.

[KWJ]

So we'll likely find out today if they paid it or tomorrow morning if the HMRC are pushing through the winding up order, aye?

[#FromTheCapital]

They'll pay today no doubt. Still a good sign that they're having cash flow problems this early. Last season the cracks didn't show until September iirc.

[s.a.m]

A couple of random thoughts:

The initial story must have been leaked by Hearts. HMRC wouldn't comment on an individual taxpayer (least of all to the Sun) and there still isn't any public record of the debt as no court papers have been filed.

Which begs the question why would they leak it? The answer seems fairly obvious to me: it gives the fans more warning time. If they had woken up tomorrow with the first they'd heard of this story being that HMRC had filed a WUP, they would only have 10 days left to save the club.

As Cav has pointed out above, most sales transactions take a few days before the funds get to the bank account, effectively reducing that period to a week (or less). So by leaking the story to the Sun a week (or thereabouts) in advance, they hope to give the fans more time to get their cakes baked

That is a rehash of earlier reports, probably written by a staff writer (there is no byline to the article). It doesn't tell us anything new.

:agree: https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcQCYJB3Q_cKskvAukuyWB_N4cPqt0QV6 ioVqSflAA2ozvq8eVvR-g

[21.05.2016]

The slimey, jammy *******s will squirm their grubby wee selves out of it today as they so often have done in the past. Horrible, disgusting, scabby little club.

[Green Fish]

Have heard, albeit third hand, that a consortium is progressing in a take over but accounts from three months and before have vanished. Probably nonsense but wouldn't be a great surprise.

[PatHead]

Have heard, albeit third hand, that a consortium is progressing in a take over but accounts from three months and before have vanished. Probably nonsense but wouldn't be a great surprise.

Any idea who they are having discussions with? Hearts are not in control

[CropleyWasGod]

Have heard, albeit third hand, that a consortium is progressing in a take over but accounts from three months and before have vanished. Probably nonsense but wouldn't be a great surprise.

Again, this "takeover".

Can't happen. Nothing can be sold. :cb

[JeMeSouviens]

So we'll likely find out today if they paid it or tomorrow morning if the HMRC are pushing through the winding up order, aye?

They'll file a winding up petition with the court, but that still gives them a couple of weeks to pay before it would be heard. We've been at this stage many times before. :rolleyes:

[Milandinho]

Have heard, albeit third hand, that a consortium is progressing in a take over but accounts from three months and before have vanished. Probably nonsense but wouldn't be a great surprise.

Can anyone buy the vermin? I thought all vlads assets are frozen?

[Leishy1995]

The sun reporting it would take a miracle to pay today...

[Ozyhibby]

They'll file a winding up petition with the court, but that still gives them a couple of weeks to pay before it would be heard. We've been at this stage many times before. :rolleyes:

If it gets that far then their original deal to pay the £1.5m over 3 years becomes invalid as a condition of that deal was that all other taxes were to be paid on time.

[Green Fish]

Can anyone buy the vermin? I thought all vlads assets are frozen?

Unsure mate but some of the more credible followers of them that I know seem a bit more optimistic of late. Who knows?

[Heisenberg]

The sun reporting it would take a miracle to pay today...

They still reckon they'll pay it before it reaches court. They will wait till the very last day/few hours of the last deadline before squirming out of it again.

[Leishy1995]

They still reckon they'll pay it before it reaches court. They will wait till the very last day/few hours of the last deadline before squirming out of it again.

If they do that gives incentive to other clubs in this country. set a precedent with them!

[Andy74]

If it gets that far then their original deal to pay the £1.5m over 3 years becomes invalid as a condition of that deal was that all other taxes were to be paid on time.

That was my thinking too - the winding up order would be for this plus the remainder of the £1.5 million surely and there would be no chance of paying that.

[Glesgahibby]

Again, this "takeover".

Can't happen. Nothing can be sold. :cb
Is it possible they won't pay this to force administration?
Could it be that no one at the yams has the authority(balls)to file for administration?
Something has to give because there is no way they can function for the amount
of time it will take for the ubig/ukio situation to be sorted.
They are up ***** creak and administration must be the only paddle available :greengrin
The good thing is that paddle is made of papermashie :agree:

[EdinMike]

That was my thinking too - the winding up order would be for this plus the remainder of the £1.5 million surely and there would be no chance of paying that.

With them being late with this PAYE I'm surprised HMRC aren't pushing them for that £1.5 million bill now. Probably because they know they won't get it. HMRC are playing this game the right way I think. Bleed as much money as you can before the bubble pops.

[hibs0666]

Unsure mate but some of the more credible followers of them that I know seem a bit more optimistic of late. Who knows?

They have to be optimistic. Any sort of realistic outcome would see them facing oblivion. I remember the good old days of uber-optimism when they only owed money to themselves, were going to build a 50,000 seated stadium, were signing World Cup stars and were going to be Champions League winners within three years.

[Treadstone]

Barry has received his copy early from Fedupofus.

Barry Anderson ‏@BarryAnderson_8 (https://twitter.com/BarryAnderson_8)31m (https://twitter.com/BarryAnderson_8/status/344005605817733120)
#Hearts (https://twitter.com/search?q=%23Hearts&src=hash) should be able to pay £100,000 PAYE bill before it reaches court. No guarantee of payment by today's 5pm deadline. See EN. #HMFC (https://twitter.com/search?q=%23HMFC&src=hash)

[Aldo]

Have heard, albeit third hand, that a consortium is progressing in a take over but accounts from three months and before have vanished. Probably nonsense but wouldn't be a great surprise.

Assets etc are currently frozen by the powers that be in Lith land are they not?? If this is the case then surely nothing can happen till its all sorted?

[Andy74]

Barry has received his copy early from Fedupofus.

Barry Anderson ‏@BarryAnderson_8 (https://twitter.com/BarryAnderson_8)31m (https://twitter.com/BarryAnderson_8/status/344005605817733120)
#Hearts (https://twitter.com/search?q=%23Hearts&src=hash) should be able to pay £100,000 PAYE bill before it reaches court. No guarantee of payment by today's 5pm deadline. See EN. #HMFC (https://twitter.com/search?q=%23HMFC&src=hash)

Then the money really is all gone and it will just be handed in once more tickets are sold. Can't see there being any wages or anything else paid for after this.

[Glesgahibby]

Barry has received his copy early from Fedupofus.

Barry Anderson ‏@BarryAnderson_8 (https://twitter.com/BarryAnderson_8)31m (https://twitter.com/BarryAnderson_8/status/344005605817733120)
#Hearts (https://twitter.com/search?q=%23Hearts&src=hash) should be able to pay £100,000 PAYE bill before it reaches court. No guarantee of payment by today's 5pm deadline. See EN. #HMFC (https://twitter.com/search?q=%23HMFC&src=hash)
Surely if not paid by 5pm today then all other tax arrears come into play.
I would also assume sfa/spl financial rules would come into play.

[Aldo]

Then the money really is all gone and it will just be handed in once more tickets are sold. Can't see there being any wages or anything else paid for after this.

Please let it be.. But remember one thing Andy.... We've seen this all before and they usually just scrap out of it.

Hopefully the start of the domino effect and things start to tumble.

Hope the powers that be in the SPL are watching?

A week or so till pay day as well!

[Aldo]

Surely if not paid by 5pm today then all other tax arrears come into play.
I would also assume sfa/spl financial rules would come into play.

We'll see. The SPL will of hopefully grown a backbone.

[YehButNoBut]

Please let it be.. But remember one thing Andy.... We've seen this all before and they usually just scrap out of it.

Hopefully the start of the domino effect and things start to tumble.

Hope the powers that be in the SPL are watching?

A week or so till pay day as well!

Will their wages not be due this Friday as pay day is 16th which is Sunday so should be in the bank on Friday, fat chance of that.

[Treadstone]

Then the money really is all gone and it will just be handed in once more tickets are sold. Can't see there being any wages or anything else paid for after this.

Consider the source Andy. Barry doing their PR(!) or whatever they call it for them. As has been said before regarding this issue it looks as though its to get as many hold backs to purchase season tickets etc.

[Geo_1875]

Barry has received his copy early from Fedupofus.

Barry Anderson ‏@BarryAnderson_8 (https://twitter.com/BarryAnderson_8)31m (https://twitter.com/BarryAnderson_8/status/344005605817733120)
#Hearts (https://twitter.com/search?q=%23Hearts&src=hash) should be able to pay £100,000 PAYE bill before it reaches court. No guarantee of payment by today's 5pm deadline. See EN. #HMFC (https://twitter.com/search?q=%23HMFC&src=hash)

That doesn't make sense. If it's not paid by close today it goes to court.

[Aldo]

Will their wages not be due this Friday as pay day is 16th which is Sunday so should be in the bank on Friday, fat chance of that.

Who knows mate. Nothing is straight forward with them involved. Just adds to their woes.

[Jack]

Barry has received his copy early from Fedupofus.

Barry Anderson ‏@BarryAnderson_8 (https://twitter.com/BarryAnderson_8)31m (https://twitter.com/BarryAnderson_8/status/344005605817733120)
#Hearts (https://twitter.com/search?q=%23Hearts&src=hash) should be able to pay £100,000 PAYE bill before it reaches court. No guarantee of payment by today's 5pm deadline. See EN. #HMFC (https://twitter.com/search?q=%23HMFC&src=hash)

Correct me if I’m wrong. The £1.5m tax bill court case went through on the nod because they couldn’t afford anyone to present their case in whatever court it was. I seem to recall them saying its no fair and all that and dropping their challenge at the last minute having previously said it wasn’t due.

I’ve since heard that their accountants have had trouble getting the monies due which may explain the continuing delays there.

When does the reaching court bit happen? A trend of not being able to remain pally with these sorts of professions and an unwillingness or inability to stump up on time suggests to me their next court case could be their last one.

Here's hoping anyway.

[HFC 0-7]

That doesn't make sense. If it's not paid by close today it goes to court.

It will be a few weeks before it actually goes to court, by which time the plums will have bought any story coming out of tynecastle about World Cup stars, champions league holders and mega stands and will have handed over cash to pay this bill.

[Peevemor]

Then the money really is all gone and it will just be handed in once more tickets are sold. Can't see there being any wages or anything else paid for after this.

Given that they have wages to pay in a weeks time, they'll probably be saving their pennies for that then hope any other money coming in thereafter will be enough to pay make the £100k tax payment before any winding up order is enforced.

[Cabbage East]

Those mutants really have to spin lots of plates these days eh?

[Gus Fring]

Given that they have wages to pay in a weeks time, they'll probably be saving their pennies for that then hope any other money coming in thereafter will be enough to pay make the £100k tax payment before any winding up order is enforced.

The Tax bill will be of the highest of priorities, the wages won't be paid in full if it comes to it as that will only result in a transfer embargo and possible points deduction. Not paying the tax bill could result in their death.

[Pretty Boy]

Even if they do squirm out of the current mess, it doesn't annoy me as it once did.

It annoyed me when it led to a.clear onfield advantage at ours and others expense. Now they have the squad they deserve and will struggle next year regardless.

If they limp on for a few more weeks/months until events in Lith catch up with them then I don't really care.

[CallumLaidlaw]

Surely if not paid by 5pm today then all other tax arrears come into play.
I would also assume sfa/spl financial rules would come into play.

Kenny Millar who wrote the sun story this morning reckons as long as its paid before the court hearing then the SPL won't get involved.

[Lmc2105]

its ridiculous they agreed a payment plan last year it starts and they cant pay it. HMRC should throw the book at them and demand the whole 1.5M upfront.

[hibs0666]

its ridiculous they agreed a payment plan last year it starts and they cant pay it. HMRC should throw the book at them and demand the whole 1.5M upfront.

To make it even more ridiculous the yaks managed to get a massive one month into the tax repayment plan before messing up again.

Their time is almost up, it's just a question of who administers the lethal injection.

[Lmc2105]

there wages are due on friday IF they pay the bill they won't be able to pay wages then the SPL will have to get involved

[DaveF]

Kenny Millar who wrote the sun story this morning reckons as long as its paid before the court hearing then the SPL won't get involved.

Let's hear it for the SPL .Every other club strives to comply with the tax laws, while the clampitts flounce around withholding money until the last minute. That seems pretty fair :rolleyes:

[bingo70]

Let's hear it for the SPL .Every other club strives to comply with the tax laws, while the clampitts flounce around withholding money until the last minute. That seems pretty fair :rolleyes:

Be interesting to see if they rubber stamp the signing of Danny Wilson?!

[Gus Fring]

Let's hear it for the SPL .Every other club strives to comply with the tax laws, while the clampitts flounce around withholding money until the last minute. That seems pretty fair :rolleyes:

The SPL pretty much only deals with Football related matters. They can't get involved in things the press write about and say is happening. It's important to remember at this stage there is no official confirmation this tax bill even exists.

Anything the SPL do in these types of circumstances must be watertight.

[HibeeHendo]

When do you think we'll get the next update on events in Lith Land?

[Caversham Green]

That doesn't make sense. If it's not paid by close today it goes to court.

If it's not paid today HMRC will apply to the court for a Winding Up Order but the hearing itself will be three weeks away (I think there's a 21 day notice period). They've been at this point at least four times before, but they've never been under a 'time to pay' agreement before. That agreement will almost certainly have a clause that requires current tax payments to be kept up to date or the full amount falls due immediately. If that's the case here then the winding up petition could still be heard even if the £100k is paid in the interim. In short, if there is such a clause they have to pay today or they will be wound up.

The exact nature of this 'bill' still remains unclear and if they do pay it today then they were likely to have been in a position to pay it last week and are stringing everyone along. FWIW I think it will be paid today but they're playing a very dangerous game - possibly because they have no alternative.

[PatHead]

The SPL pretty much only deals with Football related matters. They can't get involved in things the press write about and say is happening. It's important to remember at this stage there is no official confirmation this tax bill even exists.

Anything the SPL do in these types of circumstances must be watertight.

Whilst I agree with your comments the SPL must be aware of the situation re non-payment of alleged tax bill through direct quotes in the press. Surely it is in the interests of the SPL to be pro-active in this matter even only to the extent of contacting Hearts asking if this is the case so they can at least plan for next season. The last thing the SPL need after last summer is another farce whereby we do not know who is playing in the tournament until a week before the season starts

[brog]

To make it even more ridiculous the yaks managed to get a massive one month into the tax repayment plan before messing up again.

Their time is almost up, it's just a question of who administers the lethal injection.

I forecast months ago that Yams would make no more than 1 or 2 payments against this repayment plan, basically to get them to end of the season.
To summarise;
1. They're supposedly self sufficient but that includes £1million raised from what increasingly looks like a fraudulent share issue. Also the cakebakes etc & probably a significant sum from increased gates following their emotional blackmail.
2. We're one week into the close season & they can't pay PAYE which they've already collected ( on behalf of HMRC ) & spent on Danny Wilson!
3. They're due £1.5million to HMRC, they have payroll due this week & they have an acknowledged black hole of £2.5mm for the season ahead.
4. Oh & no one knows who owns them but whoever it is they're either in bankruptcy, liquidation or admin & Yams owe anywhere upwards of £25mm in debt with their ramshackle stadium pledged as security against some of that debt.
However, allisbarry!!
I honestly believe HMRC may realise this institution is a basket case & pull the plug sooner rather than later. Mind you I'll miss this thread when it happens!

[Gus Fring]

Whilst I agree with your comments the SPL must be aware of the situation re non-payment of alleged tax bill through direct quotes in the press. Surely it is in the interests of the SPL to be pro-active in this matter even only to the extent of contacting Hearts asking if this is the case so they can at least plan for next season. The last thing the SPL need after last summer is another farce whereby we do not know who is playing in the tournament until a week before the season starts

Quotes in the press aren't grounds for punishing a club. There have been no "direct quotes" either. They are attributed to a "Hearts Spokesman" who is always unnamed in bad news situations like this. There has been nothing official from HMRC, at this point, to say any of this is true and there is enough reasonable doubt to conclude it might not be as Hearts portray it.

As it stands just now, the SPL line up is confirmed for next season. Hearts are still trading and have said they will survive. The SPL contacting them will make no difference at all, no business would admit they are screwed beyond repair until they literally have no other choice.

[Caversham Green]

I forecast months ago that Yams would make no more than 1 or 2 payments against this repayment plan, basically to get them to end of the season.
To summarise;
1. They're supposedly self sufficient but that includes £1million raised from what increasingly looks like a fraudulent share issue. Also the cakebakes etc & probably a significant sum from increased gates following their emotional blackmail.
2. We're one week into the close season & they can't pay PAYE which they've already collected ( on behalf of HMRC ) & spent on Danny Wilson!
3. They're due £1.5million to HMRC, they have payroll due this week & they have an acknowledged black hole of £2.5mm for the season ahead.
4. Oh & no one knows who owns them but whoever it is they're either in bankruptcy, liquidation or admin & Yams owe anywhere upwards of £25mm in debt with their ramshackle stadium pledged as security against some of that debt.
However, allisbarry!!
I honestly believe HMRC may realise this institution is a basket case & pull the plug sooner rather than later. Mind you I'll miss this thread when it happens!

That's a point that struck me when this tax bill was first publicised. According to some over on Keechbag they're not actually paying his wages yet as he's still contracted to Liverpool, but he will have been paid a fee for signing the pre-contract agreement, and it's likely to have been in excess of the £100,000 they're now trying to scrape together. That pre-contract was totally unnecessary and it all gives a clear indication that the people running HoMFC are incapable of running a football club within its means.

[PatHead]

Quotes in the press aren't grounds for punishing a club. There have been no "direct quotes" either. They are attributed to a "Hearts Spokesman" who is always unnamed in bad news situations like this. There has been nothing official from HMRC, at this point, to say any of this is true and there is enough reasonable doubt to conclude it might not be as Hearts portray it.

As it stands just now, the SPL line up is confirmed for next season. Hearts are still trading and have said they will survive. The SPL contacting them will make no difference at all, no business would admit they are screwed beyond repair until they literally have no other choice.

I agree that at this moment the SPL have no grounds and don't disagree with you about that. At this moment of time Hearts are late on a tax payment according to reports in the press and have until tonight to avoid going to court. My understanding of the rules is that you must be up to date with all taxes. There a quote from Banderson on his twatter saying he had been told by Fedekovas that debt would not be settled today. That is surely enough grounds for the SPL to make an enquiry. It would then allow the board to provisionally arrange a board meeting to discuss any potential punishment and show all clubs that rules are rules and who is in charge. What I want is for the SPL to be proactive rather than reactive and for once provide leadership. Doncaster et al seem incapable of doing this and always seem to be chasing events.

[Gus Fring]

I agree that at this moment the SPL have no grounds and don't disagree with you about that. At this moment of time Hearts are late on a tax payment according to reports in the press and have until tonight to avoid going to court. My understanding of the rules is that you must be up to date with all taxes. There a quote from Banderson on his twatter saying he had been told by Fedekovas that debt would not be settled today. That is surely enough grounds for the SPL to make an enquiry. It would then allow the board to provisionally arrange a board meeting to discuss any potential punishment and show all clubs that rules are rules and who is in charge. What I want is for the SPL to be proactive rather than reactive and for once provide leadership. Doncaster et al seem incapable of doing this and always seem to be chasing events.

If the SPL held a board meeting every time there was a report of wrongdoing in the press they'd never be allowed to go home! Barry Anderson is not someone who's word should ever be taken seriously, he's been caught telling porky pies so many times Hearts are thinking of employing him to do catering. Again, there's nothing whatsoever about HMRC on this alleged bill.

The SPL will do something only when there is something to actually do something about.

[Spike Mandela]

What's the betting that they are begging/blackmailing players to take wage deferrals next week to dodge any SPL sanctions.

[Waxy]

I'm fed up hearing thier advert on radio forth. How much does it cost them to advertise on the radio?

[Aldo]

What's the betting that they are begging/blackmailing players to take wage deferrals next week to dodge any SPL sanctions.

More fool them then. You'll prob not far off the mark tbh Spike. Let them do as they see fit but when the preverbial hits the fan and they've said nowt then they are as bad as the club in my books.

[PatHead]

If the SPL held a board meeting every time there was a report of wrongdoing in the press they'd never be allowed to go home! Barry Anderson is not someone who's word should ever be taken seriously, he's been caught telling porky pies so many times Hearts are thinking of employing him to do catering. Again, there's nothing whatsoever about HMRC on this alleged bill.

The SPL will do something only when there is something to actually do something about.

So you don't think it is worth the SPL picking up the phone and asking Hearts if there is any truth in this story? If there is will they be able to pay the bill, are they going to pay the players wages this week and finally can they see a business plan to ensure that Hearts are capable of seeing out the season? As a member of the SPL Hearts are obliged to behave in a manner expected of one of the Premier clubs in the land, it is not unreasonable for the SPL to behave like a regulator in these circumstances.

[Gus Fring]

Barry's article today.


HEARTS are confident of paying an outstanding £100,000 tax bill before being served with a winding-up order in court.The deadline for the unpaid PAYE amount is 5pm today and Tynecastle sources say the club will meet the obligation before the matter reaches Edinburgh’s Court of Session.
As of this morning, Hearts officials were unsure if the full amount would be raised before close of business today. Should the deadline pass without payment, Her Majesty’s Revenue and Customs (HMRC) will ask the courts to wind up the club. Hearts would then have a further eight days to pay the £100,000 once the winding-up advert appears in the press.
HMRC are expecting payment in full today and will not hesitate to begin the winding-up process tomorrow if their deadline is not met by Hearts. However, those within Tynecastle remain confident that the tax bill, if not cleared today, will be met before the matter reaches court.
Meanwhile, a potential takeover of the club by fans will reach its next stage on July 4 when Foundation of Hearts begins converting fans’ pledges. The group is working on behalf of six key supporter organisations, which hope to collectively take control of Hearts from majority shareholder Vladimir Romanov.
Foundation of Hearts have received over 4000 pledges from individuals via their website and will hold an open question-and-answer session this Friday in Tynecastle’s Gorgie Suite (7.30pm start). Anyone wishing to attend should email [email protected] with their name and address. Tickets are available for collection from the club shop from this afternoon.

That last bit confirms what I had already heard, that pledges to FoH are nowhere near the amount needed. The average pledge would need to be £17,500 just to clear the security on the stadium. No chance.

[Ozyhibby]

Hearts are about to implode big time. There is no need for the SPL to act at all just now. Handing out point penalties to a club that won't even start next season is a complete waste of time.

[Ozyhibby]

Barry's article today.



That last bit confirms what I had already heard, that pledges to FoH are nowhere near the amount needed. The average pledge would need to be £17,500 just to clear the security on the stadium. No chance.[/FONT][/COLOR]
[/FONT][/COLOR]

Which amazingly, is close to what I've pledged. They might just do it. :-)

[Gus Fring]

So you don't think it is worth the SPL picking up the phone and asking Hearts if there is any truth in this story? If there is will they be able to pay the bill, are they going to pay the players wages this week and finally can they see a business plan to ensure that Hearts are capable of seeing out the season? As a member of the SPL Hearts are obliged to behave in a manner expected of one of the Premier clubs in the land, it is not unreasonable for the SPL to behave like a regulator in these circumstances.

Hearts are just going to say "Yes" to all of those questions, the same as they have been since October. Hearts themselves have said 3 times in the last year alone they are going to die without the financial support of fans, everybody knows they are struggling to make ends meet. The SPL is doing the right thing here and letting them get on with it. The SPL should not be getting involved in the day to day running of any of it's member clubs.

Remember, the SPL is the clubs. They know what's going on.

[YehButNoBut]

Another Barry Anderson re-hash stating that Hearts are confident this £100k bill will be paid today. :yw:

http://www.scotsman.com/sport/football/spl/hearts-confident-of-avoiding-tax-bill-court-date-1-2961004

Also notice FOH have a Q&A this Friday, should be fun. :greengrin

Foundation of Hearts have received over 4000 pledges from individuals via their website and will hold an open question-and-answer session this Friday in Tynecastle’s Gorgie Suite (7.30pm start). Anyone wishing to attend should email [email protected] with their name and address. Tickets are available for collection from the club shop from this afternoon.

[Springbank]

Hearts are about to implode big time. There is no need for the SPL to act at all just now. Handing out point penalties to a club that won't even start next season is a complete waste of time.

I totally agree

I do see the point people are making that the SPL, in adopting this approach, can look like they are reactive not proactive.

But there's no point turning Vlad into a Martyr when he's just a common & garden thief. Let Vlad's actions be the death knell, even if it takes a little longer, son't give any Yam the opportunity (as with their big cousins last year) to somehow blame the SPL/football authorities for their closure.

The HMFC are the cheats here, let them stew in their own juices.

[Twa Cairpets]

I agree that at this moment the SPL have no grounds and don't disagree with you about that. At this moment of time Hearts are late on a tax payment according to reports in the press and have until tonight to avoid going to court. My understanding of the rules is that you must be up to date with all taxes. There a quote from Banderson on his twatter saying he had been told by Fedekovas that debt would not be settled today. That is surely enough grounds for the SPL to make an enquiry. It would then allow the board to provisionally arrange a board meeting to discuss any potential punishment and show all clubs that rules are rules and who is in charge. What I want is for the SPL to be proactive rather than reactive and for once provide leadership. Doncaster et al seem incapable of doing this and always seem to be chasing events.

Much as though Doncaster is a trumpet of the first water, doing something like this - certainly publicly - could (correctly) be seen as pre-judging. its like convicting someone of looking like they were about to hit you.

[Twa Cairpets]

So you don't think it is worth the SPL picking up the phone and asking Hearts if there is any truth in this story? If there is will they be able to pay the bill, are they going to pay the players wages this week and finally can they see a business plan to ensure that Hearts are capable of seeing out the season? As a member of the SPL Hearts are obliged to behave in a manner expected of one of the Premier clubs in the land, it is not unreasonable for the SPL to behave like a regulator in these circumstances.

You also assume that there is no dialogue going on. I don't know if there is or isn't, but if it's the former, why would you expect this or the content of any such call to be made public?

[KWJ]

How can Vlad sell the club to anybody when he's posted missing!?

[#FromTheCapital]

How can Vlad sell the club to anybody when he's posted missing!?


They can't be sold at the moment because UBIG's assets are frozen, in order ofr them to be unfrozen they will need to go into admin which means a 15 point deduction for hearts. It is possible for them to be sold after this but it won't be Vlad who is selling them

[Dashing Bob S]

Hearts are about to implode big time. There is no need for the SPL to act at all just now. Handing out point penalties to a club that won't even start next season is a complete waste of time.

In a nutshell. Why bother, and get pulled into all that mess?

All we are witnessing now is some Yams trying to rearrange deckchairs on the Titanic, while the more sensible ones run for the lifeboats.

No need for anybody else to do anything but 'kick back' and enjoy the show.

[lapsedhibee]

Foundation of Hearts have received over 4000 pledges from individuals via their website and will hold an open question-and-answer session this Friday in Tynecastle’s Gorgie Suite (7.30pm start).

Even if all those pledgers were yams - which they're not - it'd still be a poor show for only 1% of their fans to have signed up.


How can Vlad sell the club to anybody when he's posted missing!?

They'll have e-bay in Chechnya, shirley.

[Treadstone]

Foundation of Hearts have received over 4000 pledges from individuals via their website and will hold an open question-and-answer session this Friday in Tynecastle’s Gorgie Suite (7.30pm start). Anyone wishing to attend should email [email protected] with their name and address. Tickets are available for collection from the club shop from this afternoon.




That last bit confirms what I had already heard, that pledges to FoH are nowhere near the amount needed. The average pledge would need to be £17,500 just to clear the security on the stadium. No chance.

I know they look in so here are some questions they should be asking at the 'Q and A Session.'

1. Do they expect a drop off from the mentioned 4000 pledgers come the certainty of 'signing up' for actual money being taken by FoH ?

2. Generously assuming ALL pledgers give £50 a month this realises an annual return of £2.4m. How would this be used to buy the club ? Would they agree a deal and make scheduled payments from monies gathered ?

3. If pledgers fell by the wayside over the course of time as they almost certainly would, and a scheduled payment could not be made who would own the club ?

4. There is a funding gap of £2.5m for the coming season, how would this be addressed considering contracts already agreed would have to be honoured ?

5. If the club can't be purchased 'debt free' would this end all interest from FoH ?

6. Do FoH consider the club and Tynecastle as a 'both together' deal or would they consider buying one without the other ?

7. How would recruitment/termination work regarding non playing but essential football staff ?

Plenty other Qs but left it as 7 is a nice number.

[silverhibee]

What's the betting that they are begging/blackmailing players to take wage deferrals next week to dodge any SPL sanctions.

:hmmm:

[Sanger]

How can Vlad sell the club to anybody when he's posted missing!?

Only the administrator of Ukio Bankas can sell Hearts as they have a claim against Tynecastle and 70% of HMFC shares on outstanding direct and indirect debts HMFC have to UKIO Bankas.

[The Leith Dutch]

I know they look in so here are some questions they should be asking at the 'Q and A Session.'

1. Do they expect a drop off from the mentioned 4000 pledgers come the certainty of 'signing up' for actual money being taken by FoH ?

2. Generously assuming ALL pledgers give £50 a month this realises an annual return of £2.4m. How would this be used to buy the club ? Would they agree a deal and make scheduled payments from monies gathered ?

3. If pledgers fell by the wayside over the course of time as they almost certainly would, and a scheduled payment could not be made who would own the club ?

4. There is a funding gap of £2.5m for the coming season, how would this be addressed considering contracts already agreed would have to be honoured ?

5. If the club can't be purchased 'debt free' would this end all interest from FoH ?

6. Do FoH consider the club and Tynecastle as a 'both together' deal or would they consider buying one without the other ?

7. How would recruitment/termination work regarding non playing but essential football staff ?

Plenty other Qs but left it as 7 is a nice number.

Incisive and right to the point :top marks

[Gus Fring]

Barry Anderson is secretly worried the bill might not be paid on time.

http://i40.tinypic.com/j7c4td.gif

[Heisenberg]

See Barry is pushing his 100k for novikovas story again this afternoon. He must be getting worried.

[GreenOnions]

Call me old-fashioned but I still think *eck Off Hearts is far from ideal as a name for their group

[Thecat23]

So has Hearts paid this yet?

[Geo_1875]

I know they look in so here are some questions they should be asking at the 'Q and A Session.'

1. Do they expect a drop off from the mentioned 4000 pledgers come the certainty of 'signing up' for actual money being taken by FoH ?

2. Generously assuming ALL pledgers give £50 a month this realises an annual return of £2.4m. How would this be used to buy the club ? Would they agree a deal and make scheduled payments from monies gathered ?

3. If pledgers fell by the wayside over the course of time as they almost certainly would, and a scheduled payment could not be made who would own the club ?

4. There is a funding gap of £2.5m for the coming season, how would this be addressed considering contracts already agreed would have to be honoured ?

5. If the club can't be purchased 'debt free' would this end all interest from FoH ?

6. Do FoH consider the club and Tynecastle as a 'both together' deal or would they consider buying one without the other ?

7. How would recruitment/termination work regarding non playing but essential football staff ?

Plenty other Qs but left it as 7 is a nice number.

Q - Have we got enough money to buy the club and the stadium and to run them as a going concern?

A - No.

That's it covered in a nutshell.

[Hermit Crab]

So has Hearts paid this yet?

A yam at my work says it has but it's probably all wind and pish.

[JimBHibees]

Barry Anderson is secretly worried the bill might not be paid on time.

http://i40.tinypic.com/j7c4td.gif

He will know it will be paid. Just panicking the yams into buying season tickets.

What was that saying that is so apt for the Yams," Fool me once, shame on you".

Fool me twice, shame on me".

[Time For Heroes]

He will know it will be paid. Just panicking the yams into buying season tickets.

What was that saying that is so apt for the Yams," Fool me once, shame on you".

Fool me twice, shame on me".

As soon as I read that I thought of this:
"There's an old saying in Tennessee — I know it's in Texas, probably in Tennessee — that says, fool me once, shame on — shame on you. Fool me — you can't get fooled again." —Nashville, Tenn., Sept. 17, 2002

[Andy74]

As soon as I read that I thought of this:
"There's an old saying in Tennessee — I know it's in Texas, probably in Tennessee — that says, fool me once, shame on — shame on you. Fool me — you can't get fooled again." —Nashville, Tenn., Sept. 17, 2002

Presidential folk ken whits gaun on.