Share Transfers Agreed/Cooling off period

[The Green Goblin]

This will be the biggest thread EVER in the history of hibs.net :agree:

Has anyone else ever discovered it was possible to love two threads at the same time? :greengrin

[Hibercelona]

http://www.hmfckickback.co.uk/index.php?/topic/129047-hit-the-****-where-it-hurts/

AlloaSectionG (http://www.hmfckickback.co.uk/index.php?/user/896-alloasectiong/) Posted 14 June 2013 - 08:35 PM
The way to hit them where it hurts is to get back to pumping them on the park, ASAP.

How do you think they're gonna feel when we're debt-free under new owners by the time the season starts?




Deluded Yam *****. Hope you enjoy Sunday League, about the only thing your club could raise money for.
:lolyam:


If you ever have a bairn and want to teach them the dangers of the toxic effects that Cocaine and Alcohol abuse have on the brain, just shown them a glimpse of kickback. It will scare them for life.

[Pete]

You've gotta love the hearts sources and club insiders.

[kdhibees1]

If you ever have a bairn and want to teach them the dangers of the toxic effects that Cocaine and Alcohol abuse have on the brain, just shown them a glimpse of kickback. It will scare them for life. None of that carry oan!! Just pure crystalised asbestos fumes!!! Potent stuff gadgie!!!

[Chibs]

Sergey, I too have been wondering what a thorough due diligence will reveal.

I do wonder what horrors will be uncovered once light is shed on HMFC's true financial situation.

I posit the question: why has the main man disappeared and what does he have to hide?

I suspect there's a lot of quite shady stuff yet to be revealed.

As for FoH, dear Lord, those guys need help!
My gut feeling is that no one will ever see hide nor hair of the mad one ever again,
However if you happen to buy some tins of Chechen dog food

[JohnStephens91]

http://www.hmfckickback.co.uk/index.php?/topic/129081-first-thing-we-do-ifwhen-we-get-through-this/

(http://www.hmfckickback.co.uk/index.php?/user/20314-jessjambo/)Post 41

Jessjam (http://www.hmfckickback.co.uk/index.php?/user/20314-jessjambo/)bo
Posted Yesterday, 23:53
NOT if we get through this. WHEN we get through this.

I liked a previous post....................Borussia Dortmund were in this position 5 / 6 years ago. The Jambos,...............Scotland's Borussia Dortmund in waiting.


:lolyam: No words. Enjoy going bust and ending up the polar opposite of Dortmund.

[SteveHFC]

Jessjam (http://www.hmfckickback.co.uk/index.php?/user/20314-jessjambo/)bo
Posted Yesterday, 23:53
NOT if we get through this. WHEN we get through this.

I liked a previous post....................Borussia Dortmund were in this position 5 / 6 years ago. The Jambos,...............Scotland's Borussia Dortmund in waiting.


:lolyam: No words. Enjoy going bust and ending up the polar opposite of Dortmund.



:faf:

[JohnStephens91]

:faf:

Fannies, deluded fannies, the lot of them.

10270

[kdhibees1]

You've gotta love the hearts sources and club insiders.
Medals Mackay kens wots goin oan!

[frazeHFC]

http://www.hmfckickback.co.uk/index.php?/topic/129081-first-thing-we-do-ifwhen-we-get-through-this/

(http://www.hmfckickback.co.uk/index.php?/user/20314-jessjambo/)Post 41

Jessjam (http://www.hmfckickback.co.uk/index.php?/user/20314-jessjambo/)bo
Posted Yesterday, 23:53
NOT if we get through this. WHEN we get through this.

I liked a previous post....................Borussia Dortmund were in this position 5 / 6 years ago. The Jambos,...............Scotland's Borussia Dortmund in waiting.


:lolyam: No words. Enjoy going bust and ending up the polar opposite of Dortmund.





Hahahahahahahahahahahahahahahahahahahahahahaha :faf: :faf: :faf:

Almost wet myself with laughter reading that post. Dortmund who can get 80,000 at home and have half a million CL Final applicants, against a team that gets 13,000 on average in a league with little TV income.

Great post Jess, cracker to end the night with. :aok:

[andrew70]

http://bit.ly/10m6Xib

well I never, thought they were only 2 wks away from making a substantial bid. Muppets the lot of them. They all deserve each other. This is fun!

[EdinMike]

http://bit.ly/10m6Xib

well I never, thought they were only 2 wks away from making a substantial bid. Muppets the lot of them. They all deserve each other. This is fun!

Remember, a lot of those "Pledges" are from us Hobo's so they really are quite a fair bit away.

#allisarry

[Pete]

http://www.hmfckickback.co.uk/index.php?/topic/129081-first-thing-we-do-ifwhen-we-get-through-this/

(http://www.hmfckickback.co.uk/index.php?/user/20314-jessjambo/)Post 41

Jessjam (http://www.hmfckickback.co.uk/index.php?/user/20314-jessjambo/)bo
Posted Yesterday, 23:53
NOT if we get through this. WHEN we get through this.

I liked a previous post....................Borussia Dortmund were in this position 5 / 6 years ago. The Jambos,...............Scotland's Borussia Dortmund in waiting.


:lolyam: No words. Enjoy going bust and ending up the polar opposite of Dortmund.



Hibs were saved by getting small children to write to wealthy people.

Dortmund are bigger than hibs.

h£art$ are the Scottish Dortmund.

1-5 1902.




Problem solved. They will come back debt free next year.

[Stringer]

We are all Vladimir Romanov :greengrin

:flag:

[kdhibees1]

http://bit.ly/10m6Xib

well I never, thought they were only 2 wks away from making a substantial bid. Muppets the lot of them. They all deserve each other. This is fun!


Admitting the fans had probably been slow to react to the escalating crisis, he added that it was not yet too late to salvage the situation – though he conceded it was unlikely that there would be much help from the outside, with other clubs contending that Hearts’ continued overspending has given them an unfair advantage throughout the Romanov years.

:agree:

[OsloHibs]

http://www.hmfckickback.co.uk/index.php?/topic/129047-hit-the-****-where-it-hurts/

AlloaSectionG (http://www.hmfckickback.co.uk/index.php?/user/896-alloasectiong/) Posted 14 June 2013 - 08:35 PM
The way to hit them where it hurts is to get back to pumping them on the park, ASAP.

How do you think they're gonna feel when we're debt-free under new owners by the time the season starts?




Deluded Yam *****. Hope you enjoy Sunday League, about the only thing your club could raise money for.
:lolyam:


:applause::faf:

[ScottB]

http://www.hmfckickback.co.uk/index.php?/topic/129081-first-thing-we-do-ifwhen-we-get-through-this/

(http://www.hmfckickback.co.uk/index.php?/user/20314-jessjambo/)Post 41

Jessjam (http://www.hmfckickback.co.uk/index.php?/user/20314-jessjambo/)bo
Posted Yesterday, 23:53
NOT if we get through this. WHEN we get through this.

I liked a previous post....................Borussia Dortmund were in this position 5 / 6 years ago. The Jambos,...............Scotland's Borussia Dortmund in waiting.


:lolyam: No words. Enjoy going bust and ending up the polar opposite of Dortmund.



Dortmund, that were saved in part by a donation from big rivals, Bayern Munich.

They'll be waiting a long ******* time for one from us!

[Part/Time Supporter]

Dortmund, that were saved in part by a donation from big rivals, Bayern Munich.

They'll be waiting a long ******* time for one from us!

Dortmund's local (and biggest) rivals are Schalke.

The equivalent in Scotland would be Celtic giving Hearts some finance.

[jockodile]

Been really interesting reading this from Australia but ive always feared that administration would be their easiest route out to no debt and effectively get off scot free, bar a points deduction.
I used to be in the generous category but now i just want a gretna situ.
Can they wriggle out of this relatively unscathed? Surely not?

[green day]

Admitting the fans had probably been slow to react to the escalating crisis, he added that it was not yet too late to salvage the situation – though he conceded it was unlikely that there would be much help from the outside, with other clubs contending that Hearts’ continued overspending has given them an unfair advantage throughout the Romanov years.

:agree:

.....and yet another tube who can't resist a 5-1 jibe in the interview.

He effectively says that this is all worth it for that result.

THAT is why the fans are not up in arms. They think that day was "job done" - that was as good as it gets.

And barely any of them understand that tainted cup win will kill their club.

Fools.

p.s. 26 registered players, that's first team and under 21......... They are so gubbed next season whatever happens. Hee Hee

[SmithyHibee]

http://bit.ly/10m6Xib

well I never, thought they were only 2 wks away from making a substantial bid. Muppets the lot of them. They all deserve each other. This is fun!

And he still says he'd take where they are now for all the success (Champions League winners etc) they've had, honestly deluded!

Ahhh well at least we'll still have a derby in the EoS league!

[lapsedhibee]

http://m.scotsman.com/sport/football/top-football-stories/hearts-face-administration-within-10-days-1-2968705?utm_medium=twitter&utm_source=twitterfeed


“So unless someone comes in with £500,000 then I don’t see any way we can pay the staff and if we can’t then I don’t see any way we can avoid going into administration.”

Shirley this is where Jakey Rolling comes in. She coughs half a million and #allisharry.

[jacomo]

http://bit.ly/10m6Xib

well I never, thought they were only 2 wks away from making a substantial bid. Muppets the lot of them. They all deserve each other. This is fun!

Recommended reading - a decent assessment of things from the Scotsman, but another unattributed story. Can their journos only put their name to the fantasy stories that tell the Yams what they want to hear?

[Tom Hart RIP]

Good article in the Herald. It claims that Hearts have so far paid £50k of the tax bill, but will face a VAT bill for the season tickets sold already at the end of the month, which is likely to be in the region of £1m.
There will also be another PAYE bill due soon.

Admin now seems a certainty which means a 15 point deduction with no new players.

[Peevemor]

Recommended reading - a decent assessment of things from the Scotsman, but another unattributed story. Can their journos only put their name to the fantasy stories that tell the Yams what they want to hear?


Despite the shambles the club has been left in by the Vladimir Romanov regime, MacLeod is reluctant to condemn his time at the helm as an outright disaster.

“If you’d told me at the start we’d have won two Scottish Cups – beating Hibs 5-1 in the second one – I’d have stopped listening at that point and said ‘yes, thank you’. We are where we are.


“The Romanov years have been a rollercoaster. We’ve had two Scottish Cup wins and the greatest result in our history.

F*** them!

[grunt]

Good article in the Herald. I thought it was a bit of a confused article, especially the last paragraph which seems to make no sense at all


The situation is complicated, but a rescue plan is possible. It will require significant funds, although the cash flow problems can be addressed within 12 to 18 months, but more setbacks will also have to be overcome.

http://www.heraldscotland.com/sport/football/bleeding-hearts.21304917

[SkintHibby]

Why do the flumps not sell Tynecastle to alleviate their money problems? Surely that land would be worth a bob or two.:confused:

[robinp]

Why do the flumps not sell Tynecastle to alleviate their money problems? Surely that land would be worth a bob or two.:confused:

It has a security against it for more than its worth, I.e. they could sell it and see no cash, but then have to pay someone rent!

[Kaiser1962]

Their arrogance is astounding. It appears they are using administration as a threat to their creditors and the vast majority take a total debt write off as a given, whatever happens. There may a degree of defiance, I'm being kind here, in their collective attitude that administration or liquidation would be a very good thing.

I would hope, probably expect, the Lithuanian Govt to show some backbone when dealing with an organisation that effectively stole their money. It has been clear for a number of years now that there has been no intention to pay back any of the funds taken and this alone should justify a far more robust, possibly criminal, investigation. Hearts assets should be treated under the Proceeds of Crime Act.

[Hibzbollah]

.....and yet another tube who can't resist a 5-1 jibe in the interview.

He effectively says that this is all worth it for that result.

THAT is why the fans are not up in arms. They think that day was "job done" - that was as good as it gets.

And barely any of them understand that tainted cup win will kill their club.

Fools.

p.s. 26 registered players, that's first team and under 21......... They are so gubbed next season whatever happens. Hee Hee


This piece says everything that needs to be said.....

http://www.scotsman.com/news/andrew-smith-the-price-to-be-paid-for-hearts-1-2968753


"Hearts have been a financial basket case for close on a decade and really, until this season, there has been no serious attempt to seek treatment or take the necessary medicine. Each one of the Vladimir Romanov seasons, the wages-to-turnover ratio has sat at more than 100 per cent – almost double what financial analysts agree is a level that allows for running a football club in sustainable fashion..."

[Kaiser1962]

It has a security against it for more than its worth, I.e. they could sell it and see no cash, but then have to pay someone rent!

The merricks are utterly clueless in this area. Bordering on stupidity.

[Viva_Palmeiras]

This piece says everything that needs to be said.....

http://www.scotsman.com/news/andrew-smith-the-price-to-be-paid-for-hearts-1-2968753


"Hearts have been a financial basket case for close on a decade and really, until this season, there has been no serious attempt to seek treatment or take the necessary medicine. Each one of the Vladimir Romanov seasons, the wages-to-turnover ratio has sat at more than 100 per cent – almost double what financial analysts agree is a level that allows for running a football club in sustainable fashion..."

Excellent and thanks for not posting a comment so I could beat Kiwi Doug to post first.

[Treadstone]

This piece says everything that needs to be said.....

http://www.scotsman.com/news/andrew-smith-the-price-to-be-paid-for-hearts-1-2968753


"Hearts have been a financial basket case for close on a decade and really, until this season, there has been no serious attempt to seek treatment or take the necessary medicine. Each one of the Vladimir Romanov seasons, the wages-to-turnover ratio has sat at more than 100 per cent – almost double what financial analysts agree is a level that allows for running a football club in sustainable fashion..."

I'd say two decades. Whalearse sold HoMFC in 1994 and debt was £4m+ at that time that would have been more than turnover. Their debt has only ever been managed and never addressed.

[#FromTheCapital]

This piece says everything that needs to be said.....

http://www.scotsman.com/news/andrew-smith-the-price-to-be-paid-for-hearts-1-2968753


"Hearts have been a financial basket case for close on a decade and really, until this season, there has been no serious attempt to seek treatment or take the necessary medicine. Each one of the Vladimir Romanov seasons, the wages-to-turnover ratio has sat at more than 100 per cent – almost double what financial analysts agree is a level that allows for running a football club in sustainable fashion..."

That article is spot on. Tells it exactly as it is, they really have nobody to blame but themselves.

[greenginger]

Shouldn't have been policing games until they'd paid GG, simple as that. One for the media that one. Senior officers need to be accountable and explain why they've been policing for free (essentially). I'll bet Hibernian are up to date.

The outstanding amount due to Scottish Police at 30 th May was probably for their May fixtures and not due for payment until June.
Having said that, pretty sure it won't be paid this month ! :thumbsup:

[Treadstone]

That article is spot on. Tells it exactly as it is, they really have nobody to blame but themselves.

But they won't .

[Hibzbollah]

I'd say two decades. Whalearse sold HoMFC in 1994 and debt was £4m+ at that time that would have been more than turnover. Their debt has only ever been managed and never addressed.

I think it's worse than that. The debt has been compounded. Previously only the ground was threatened. Romanov has speculated over and above this to now threaten the very clubs existence. It's a perfect meltdown built on arrogance, ignorance, hubris, greed and delusion...

[brog]

I thought it was a bit of a confused article, especially the last paragraph which seems to make no sense at all



http://www.heraldscotland.com/sport/football/bleeding-hearts.21304917

The only really new info is re the VAT due on season tickets & for once in this case I think they've overstated the problem. Being generous, 7,000 at £400 = £2.8mm, 20% of that = £560,000. Mind you when you've resorted to looking down the back of the sofa & your Dadsgolf bag for loose change then I suppose that's a sizeable problem!

[Part/Time Supporter]

The only really new info is re the VAT due on season tickets & for once in this case I think they've overstated the problem. Being generous, 7,000 at £400 = £2.8mm, 20% of that = £560,000. Mind you when you've resorted to looking down the back of the sofa & your Dadsgolf bag for loose change then I suppose that's a sizeable problem!

It would be 1/6 of the total because football sales are made gross of VAT; the fan pays (say) £300 for a season ticket, the club then pays £50 of that* to HMRC when they account for their VAT. Effectively the sale from the club's point of view is £250 + 20% (£50) of VAT.

*less any input VAT that can be reclaimed. In the case of a football club that will be minimal because the vast majority of their spending is on items without VAT (ie staff and player wages).

The figure in the Herald is absurdly high; £1M would be more akin to their VAT liability for a full year. At the very worst they would have to pay for a quarter, or they may even be on the monthly payments on account system.

[sidneyhibbie]

A Blind man with a stick can see it they are ****ed

[#FromTheCapital]

Close the thread they're saved. Fat toothless lump who hasn't kicked a ball for years Kevin Kyle wants to help them :faf:

Health warning: Please don't click on the link if you are squeamish.


http://www.thescottishsun.co.uk/scotsol/homepage/sport/4970379/Kyle-let-me-help.html

[Iain G]

Recommended reading - a decent assessment of things from the Scotsman, but another unattributed story. Can their journos only put their name to the fantasy stories that tell the Yams what they want to hear?

You know if it hadn't been for this Iain MacLeod bloke and his mates forcing the Pieman out they would never be in this situation that they are in just now; if they had sold Tynecastle at the height of the property boom they would have cleared their then debt levels and that could have been a springboard for them to push on.

Instead 9 years later they have brought this on themselves, with open arms, they opened the door for Romanov and now they are paying for their over reaction and folly with the very fabric of the club they thought they were saving.

When it looked like Hibs were heading to Straiton we got it together to say no and the board got into dialogue with the fanbase and worked out how we could stay at ER; instead, when faced with the same dilema, the Hearts support threw chairs and threatened the family, business and home of their owner til they got their way like a bunch of spoilt schoolchildren upset at not getting their favourite pudding for dinner.

But for the determined and positive actions of the Hibs support, we could have been at a souless IKEA stadium instead of at the fully restored Easter Road.

[macca70]

£1 million due for VAT

They are well and truly Donald Ducked

http://www.heraldscotland.com/mobile/sport/football/bleeding-hearts.21304917

What the hell are that club up to, surely when a season ticket is sold they know to put the VAT money to the side for the taxman.

The lack of any planning/organisation is unbelievable.

Any injection of half a million now from a rich fan just keeps there life support machine running for a couple of weeks.

I still can't understand why there fans aren't all down at Tynie, dragging fedofeetass or whatever his name is out and booting him back to Lithuania and insisting that someone out with the Lithuanian regime is installed to handle and oversee this current shambles.

[Www1875hfc]

£1 million due for VAT

They are well and truly Donald Ducked

http://www.heraldscotland.com/mobile/sport/football/bleeding-hearts.21304917

What the hell are that club up to, surely when a season ticket is sold they know to put the VAT money to the side for the taxman.

The lack of any planning/organisation is unbelievable.

Any injection of half a million now from a rich fan just keeps there life support machine running for a couple of weeks.

I still can't understand why there fans aren't all down at Tynie, dragging fedofeetass or whatever his name is out and booting him back to Lithuania and insisting that someone out with the Lithuanian regime is installed to handle and oversee this current shambles.

Silence of the Yams. :greengrin

[macca70]

£1 million due for VAT

They are well and truly Donald Ducked

http://www.heraldscotland.com/mobile/sport/football/bleeding-hearts.21304917

What the hell are that club up to, surely when a season ticket is sold they know to put the VAT money to the side for the taxman.

The lack of any planning/organisation is unbelievable.

Any injection of half a million now from a rich fan just keeps there life support machine running for a couple of weeks.

I still can't understand why there fans aren't all down at Tynie, dragging fedofeetass or whatever his name is out and booting him back to Lithuania and insisting that someone out with the Lithuanian regime is installed to handle and oversee this current shambles.

Here's today's article from The Herald:

Hearts are on the brink, both of crisis and salvation.

The situation at the Tynecastle club grows graver by the day, and it seems unlikely that Heart of Midlothian plc will avoid falling into administration. Yet that turn of events may be necessary for a rescue bid to succeed. That dilemma is being faced by all of the potential buyers of the company that owns the club, and it appears certain that further distress must be suffered before Hearts can be saved.

Half of the £104,000 bill owed to Her Majesty's Revenue and Customs has been paid, but a winding-up order will be served if the remaining balance is not met. The salary bill was not paid in full on Friday, leading to a registration embargo automatically being implemented by the Scottish Premier League. That in itself would be a minor consideration, since a club in financial difficulties will not be on a recruitment drive, but the board have effectively invited offers for all of their players and the squad could be stripped of its best talent. With season ticket sales having fallen, Hearts need £500,000 just to survive until the beginning of the season.

These are the details, but it is the bigger picture that is so debilitating. A VAT bill from the season tickets already sold will need to be paid before the end of the month and could be more than £1m, while a further PAYE bill will be due at the same time. With all of the season ticket revenue already committed, Hearts face critical cash flow problems. However, a controlling stake cannot be purchased at this time. BBC Scotland reported yesterday that there are six potential buyers monitoring events, although those close to the situation believe that the Foundation of Hearts – a coalition of supporters groups – is best placed to make an offer to save the club. Members of the FoH board addressed fans on Friday night, and afterwards Ian Murray, the independent chair and Edinburgh South Labour MP, admitted that administration might be necessary to solve Hearts' problems.

FoH have generated more than 4000 pledges to their website, which crashed at one stage last week due to the sheer volume of visitors, and they are now beginning the process of turning those pledges into cash, as well as seeking new backers amongst the fans. Members of the Edinburgh business community, including Ann Budge, the multi-millionaire who earned her fortune in IT, will also provide financial support, and the intention is to lodge a bid by July 4. Of the remaining parties reportedly interested in buying the club, three are from North America, one is based in London and the other has already been revealed as a consortium of Scandinavia-based businessmen. The latter have spoken with FoH about a joint bid, and further talks will clarify their intentions.

Although Hearts need a quick solution, nobody can move any more swiftly. Ukio Bankas hold 29.9% of the club, as well as ownership of Tynecastle Stadium as security against a £15m debt. The bank is now insolvent, and the administrator stressed last week that the intention is to sell the shares as part of maintaining Hearts as a going concern. A further 50% of shares is held by UBIG, the investment group which has yet to be formally placed into administration by the Lithuanian court. Although essentially now just a shell company, its assets have been frozen and the 50% shareholding cannot yet be sold.

Once UBIG, who are owed £10m by Hearts, are formally declared insolvent, it is likely the Scottish Premier League will rule that the Tynecastle club are technically in administration. This would cause the team to begin next season with a 15-point deficit, while the new Scottish Professional Football League rulebook will contain several scenarios if HFC plc were to eventually be liquidated.

"We have a rulebook, and it covers all eventualities," said Neil Doncaster, the SPL chief executive. "In the event that anything happens to any member clubs of that new league after June 27, it will be up to the new board and the new rulebook to determine what happens."

Administration would at least clarify the situation for potential new owners, and the insolvency process would strip Hearts of their debt. The intention of FoH is to buy 51% of the club to enable fan ownership and they are willing to work alongside other potential investors. Ian Murray's role is crucial, since his status as an independent figure has helped align fan groups, while he is also widely respected by key individuals in Lithuania.

The administrators of Ukio Bankas want Hearts to remain as a solvent business, having agreed terms on interest payments on the £15m loan until 2015, but they are also likely to work in conjunction with any administrators appointed to UBIG to sell the Hearts shares as a single package. The situation is complicated, but a rescue plan is possible. It will require significant funds, although the cash flow problems can be addressed within 12 to 18 months, but more setbacks will also have to be overcome.

[BSEJVT]

I don't think administration is a viable option as they have nothing for the administrators to use to fund them through it.

Seems to me latest fire sale is final attempt to raise the funds for this and retain a small element of control of the process.

If this isn't successful and it won't be without a white knight being prepared to write off their cash injection then it will be a very quick route to liquidation.

Whilst in the end I want them to be obliterated, I am quite happy that it rolls on a bit longer and the flumps get fleeced for a good few quid more and suffer the agony of their raised hopes being dashed at the last minute.

Every £1 they chuck in now is a £1 they don't have to give to any sevco type new hearts, so a bit of patience is required to ensure they are parted from as much cash as possible by the current regime.

[Jack]

£1 million due for VAT

They are well and truly Donald Ducked

http://www.heraldscotland.com/mobile/sport/football/bleeding-hearts.21304917

What the hell are that club up to, surely when a season ticket is sold they know to put the VAT money to the side for the taxman.

The lack of any planning/organisation is unbelievable.

Any injection of half a million now from a rich fan just keeps there life support machine running for a couple of weeks.

I still can't understand why there fans aren't all down at Tynie, dragging fedofeetass or whatever his name is out and booting him back to Lithuania and insisting that someone out with the Lithuanian regime is installed to handle and oversee this current shambles.

They will have used the VAT money to pay the PAYE money which they used to pay the ...

[jacomo]

Excellent and thanks for not posting a comment so I could beat Kiwi Doug to post first.

Nice comment! Obviously, don't expect any intelligent debate - the usual Yammentators on the Scotsman site will either ignore this piece or descend into insults very quickly. Maybe it really is all the fault of the media, for not holding Romanov to account?

[Spike Mandela]

http://m.scotsman.com/sport/football/top-football-stories/hearts-face-administration-within-10-days-1-2968705?utm_medium=twitter&utm_source=twitterfeed

:thumbsup:

Simply an open letter to Ann Budge and other Hearts mug. We've seen these begging letters before. Mention that Hearts will go bust and the reluctant punters will stump up.

[steviehibsleith]

Interesting article in Scotsman saying 10 days to administration. Point i liked was 150 staff, 26 players with rest being coaches etc. All you ever hear is we have reduced wage bill by showing the player reductions so we now can afford bigger salaries for new players guess they didnt realise the wage bill encompasses everyone else.

[jacomo]

£1 million due for VAT

They are well and truly Donald Ducked

http://www.heraldscotland.com/mobile/sport/football/bleeding-hearts.21304917

What the hell are that club up to, surely when a season ticket is sold they know to put the VAT money to the side for the taxman.

The lack of any planning/organisation is unbelievable.

Any injection of half a million now from a rich fan just keeps there life support machine running for a couple of weeks.

I still can't understand why there fans aren't all down at Tynie, dragging fedofeetass or whatever his name is out and booting him back to Lithuania and insisting that someone out with the Lithuanian regime is installed to handle and oversee this current shambles.

Very good post.

Obviously JK Rowling has the means to put in £500k if she were so minded, but from what I know of wealthy people - especially self-made wealthy people - they don't like wasting their cash. It doesn't sound like even that much money will be enough.

[Big Ed]

Although Hearts need a quick solution, nobody can move any more swiftly. Ukio Bankas hold 29.9% of the club, as well as ownership of Tynecastle Stadium as security against a £15m debt. The bank is now insolvent, and the administrator stressed last week that the intention is to sell the shares as part of maintaining Hearts as a going concern. A further 50% of shares is held by UBIG, the investment group which has yet to be formally placed into administration by the Lithuanian court. Although essentially now just a shell company, its assets have been frozen and the 50% shareholding cannot yet be sold.

Once UBIG, who are owed £10m by Hearts, are formally declared insolvent, it is likely the Scottish Premier League will rule that the Tynecastle club are technically in administration. This would cause the team to begin next season with a 15-point deficit, while the new Scottish Professional Football League rulebook will contain several scenarios if HFC plc were to eventually be liquidated.

The article seems to suggest that it is only a matter of time before the Lithuanian authorities undertake any insolvency action against UBIG.

Given that UBIG’s problems go further than being owed £10,000,000 by Hearts; surely this is not a given?

If Hearts cannot be sold because UBIG's assets are frozen and they are reportedly losing £10,000 per week; they simply cannot continue to exist.

[green day]

So.......wages up to £9.4M in the year they pumped us in the cup final.

According to these bams in FOH total wages next season will be £1.5M !!!

And yet some of these ****ing ***** still say they were not cheating.

Utter, utter *******s the lot of them. They cheated not onlu hibs but every other club on the way to that cup final (and arguably the gretna one too).

I am as ****ing angry as I ever have been about this after reading that article in scotsman.

I hope they die, and when the pink wongadome gets bulldozed I will be there with my hibs top and a bottle of champagne.

Last word - *****

[Leishy1995]

My old man had a heart attack today, successful operation, told him about the Scotsman article and he smiled and said he'd be out for the party.

[grunt]

This piece says everything that needs to be said.....

http://www.scotsman.com/news/andrew-smith-the-price-to-be-paid-for-hearts-1-2968753


This is a very good article, thanks for posting. I especially liked this summary:


Hearts will say they required to balance cutting costs with an ability to sell season tickets but it was more arrogance and conceit that appeared to underpin a ruinous business strategy. They refused to listen; refused to change course; always thought they knew better. It is extraordinary that in 2009-10 and 2010-11 they posted trading losses of £5m and £6m. In effect, the precise sums by which they were overspending on wages. No-one with any clout inside the club was willing, or able, to join the dots, and now, when they finally have, the only picture that forms is a horribly bleak one.

[Kaiser1962]

They will have used the VAT money to pay the PAYE money which they used to pay the ...

I suspect this is what they have been doing to get to the end of the season. Deferring payments here and there or moving major sales from one month to the next to the next again in order to defer the VAT payments and get to the end of the season when the ST money would come in and then they could pay everything and start again.

The end of the season is here and the ST money, which was spent before it came in, is gone. They are potless.

After over a hundred years of being run well they pushed the boat out over the last 25 to get one up on us and its killed them.

[woody0-7]

Am I right to think that if hearts don't pay their players nextt month then the players can start looking for new clubs as their contracts won't be valid any longer? (If they're still a club then that is)

[Jack Hackett]

Close the thread they're saved. Fat toothless lump who hasn't kicked a ball for years Kevin Kyle wants to help them :faf:

Health warning: Please don't click on the link if you are squeamish.


http://www.thescottishsun.co.uk/scotsol/homepage/sport/4970379/Kyle-let-me-help.html

It's an oft used phrase, but that was a genuine 'spit your tea oot' moment :faf:

....you also missed out 'I haven't got a job and am totally desperate' from your description above :greengrin

[PapillonVert]

There is one vital thing that has been constant for the last few months and could very well end up being the most important factor. All UBIGS assets are frozen because it's suspected Vlad has been up to, shall we say "significant dodginess". That decision won't be lightly if the lithuanian authorities think they play a significant part in any investigation.

Exactly, you just wonder what can of worms (or how many cans of worms!) is going to open up once an independent administrator/liquidator gets hold of the books.

Every time a 3rd party has made overtures about buying or investing in HMFC in the past, the management has been adept at hiding the financial information from them.

Nothing would surprise me about this lot. The wilfully blind "Big Teamers" are about to have their eyes opened, I suspect, and what they will have to see won't be pretty!

[YehButNoBut]

Even Jim Jefferies admits they cheated to win 2 cups. :fenlon:yw:

http://www.thescottishsun.co.uk/scotsol/homepage/sport/4969515/Blame-it-on-Vlads-wild-promises.html

HEARTS legend Jim Jefferies believes trying to bankroll Vladimir Romanov’s wild promises wrecked the Jambos.

Jefferies fears for the club he captained with distinction and who sacked him in his second spell as boss nearly two years ago.

The Dunfermline boss, 62, is in no doubt Hearts’ downfall started in 2005 when Romanov arrived with far-fetched promises such as winning the Champions League inside 10 years and recruiting World Cup players.

And their troubles have nothing to do with the Jambos supporters.

Jefferies said: “I can’t believe the suggestions that the supporters are to blame. The supporters have been fantastic, they’ve probably kept them afloat, so I don’t know where that has come from.

“There’s only one reason they’re in this position, mis-management and the money wasted on trying to chase certain promises.

“It’s there for all clubs if someone with a lot of money comes in, you either make a success of it or throw it away with bad decisions — and there’s been many of them.

“When you keep throwing money at it there’s going to come a time when it’s going to run out and that’s what’s happened now.

“I’m talking about the football side, because it would be wrong for me to comment on any other part of the club, because I don’t know how they operate or what effect it had on running Hearts.

“But obviously a lot of money was thrown at Hearts. There’s a couple of cup final successes but a lot of the time it’s come at a cost — and that cost cannot be met.

“You see what happened to Rangers and you just hope for the best for Hearts.

“It looks like they will be losing players, although I think clubs will wait and see how things pan out. They’re never going to pay money for players they might get for nothing further down the line.”

[Northernhibee]

So.......wages up to £9.4M in the year they pumped us in the cup final.

According to these bams in FOH total wages next season will be £1.5M !!!

And yet some of these ****ing ***** still say they were not cheating.

Utter, utter *******s the lot of them. They cheated not onlu hibs but every other club on the way to that cup final (and arguably the gretna one too).

I am as ****ing angry as I ever have been about this after reading that article in scotsman.

I hope they die, and when the pink wongadome gets bulldozed I will be there with my hibs top and a bottle of champagne.

Last word - *****

5-1 killed the Jambos. An entirely hollow victory.

Even more PLEASING is that as soon as the money dried up their players who claimed to love their club ****ed off - Ian Black, Skacel, Beattie - when they weren't getting their huge paycheques they couldn't get out of there fast enough.

They deserve no help or sympathy, they've had years to do something about this and done nothing.

[haagsehibby]

They will have used the VAT money to pay the PAYE money which they used to pay the ...

Is this not the very definition of a Ponzi scheme ?

[Velma Dinkley]

£1 million due for VAT

They are well and truly Donald Ducked

http://www.heraldscotland.com/mobile/sport/football/bleeding-hearts.21304917

What the hell are that club up to, surely when a season ticket is sold they know to put the VAT money to the side for the taxman.

The lack of any planning/organisation is unbelievable.

Any injection of half a million now from a rich fan just keeps there life support machine running for a couple of weeks.

I still can't understand why there fans aren't all down at Tynie, dragging fedofeetass or whatever his name is out and booting him back to Lithuania and insisting that someone out with the Lithuanian regime is installed to handle and oversee this current shambles.

I see the article was written by Richard Wilson. Hearts certainly do have one foot in the grave.

[Treadstone]

Is this not the very definition of a Ponzi scheme ?

Ponzi scheme looks like buying gold compared to that scenario.

[joe breezy]

http://bit.ly/10m6Xib

well I never, thought they were only 2 wks away from making a substantial bid. Muppets the lot of them. They all deserve each other. This is fun!

4000 pledges but I thought they had 400000 fans, a misprint maybe.

Then how many of those 'pledges' are Hibs fans?

I pledged the maximum £100 and I used my real name and looks like plenty others (Hibs fans) made pledges too.

Doomed and they deserve it

[PapillonVert]

Even Jim Jefferies admits they cheated to win 2 cups. :fenlon:yw:


And their troubles have nothing to do with the Jambos supporters.

Jefferies said: “I can’t believe the suggestions that the supporters are to blame. The supporters have been fantastic, they’ve probably kept them afloat, so I don’t know where that has come from.
”

Actually, I beg to differ. The fans lapped up every false promise and ambition that Romanov fed to them. Not for one nano-second did they stop and ask a few pertinent questions, e.g. how can a club pay wages that are more than 100% of turnover, where is the money coming from, what happens when the merry-go-round stops and a dozen others that, if they had had the inclination to ask, would have meant that they would have realised that this was not a situation that could go on indefinitely.

They allowed their "Big Team" delusion to block out what was obvious to everyone else.

When it all comes out in the wash, I only hope that they are forced to face up to the orgy of blatant cheating they have willingly indulged in.

[The Falcon]

It would be 1/6 of the total because football sales are made gross of VAT; the fan pays (say) £300 for a season ticket, the club then pays £50 of that* to HMRC when they account for their VAT. Effectively the sale from the club's point of view is £250 + 20% (£50) of VAT.

*less any input VAT that can be reclaimed. In the case of a football club that will be minimal because the vast majority of their spending is on items without VAT (ie staff and player wages).

The figure in the Herald is absurdly high; £1M would be more akin to their VAT liability for a full year. At the very worst they would have to pay for a quarter, or they may even be on the monthly payments on account system.

Is there any possibility this could be a quarterly VAT liability?

[Leithenhibby]

My old man had a heart attack today, successful operation, told him about the Scotsman article and he smiled and said he'd be out for the party.

Hope your Dad makes a speedy recovery :aok:

[brog]

Is this not the very definition of a Ponzi scheme ?

I posted some time back that this was a Teeming & Lading fraud, look at the definition below & smile, its perfect!

Teeming and lading is a method or practice adopted in accounting (http://www.hibs.net/wiki/Accounting). It involves the allocation of one customer's (http://www.hibs.net/wiki/Customer) payment (http://www.hibs.net/wiki/Payment) to another in order to make the books balance and often in order to detract from a possible shortfall. This process is often continued until it gets discovered. It is also known as short banking or delayed accounting or lapping.
In point of fact it is a practice adopted by the fraudulent rather than standard accounting. Many large defalcations arise from the smallest beginnings through 'teeming and lading'.

[greengnome]

My old man had a heart attack today, successful operation, told him about the Scotsman article and he smiled and said he'd be out for the party.


Hope he gets back to fitness real quick.... Aw' the best!!!

[poolman]

Close the thread they're saved. Fat toothless lump who hasn't kicked a ball for years Kevin Kyle wants to help them :faf:

Health warning: Please don't click on the link if you are squeamish.


http://www.thescottishsun.co.uk/scotsol/homepage/sport/4970379/Kyle-let-me-help.html



Good looking guy,if Locke Disney want him he maybe could get a modelling job

Modelling what I have not figured out yet

[Velma Dinkley]

Good looking guy,if Locke Disney want him he maybe could get a modelling job

Modelling what I have not figured out yet

balaclavas?

[Big Ed]

I posted some time back that this was a Teeming & Lading fraud, look at the definition below & smile, its perfect!

Teeming and lading is a method or practice adopted in accounting (http://www.hibs.net/wiki/Accounting). It involves the allocation of one customer's (http://www.hibs.net/wiki/Customer) payment (http://www.hibs.net/wiki/Payment) to another in order to make the books balance and often in order to detract from a possible shortfall. This process is often continued until it gets discovered. It is also known as short banking or delayed accounting or lapping.
In point of fact it is a practice adopted by the fraudulent rather than standard accounting. Many large defalcations arise from the smallest beginnings through 'teeming and lading'.

Am I right in saying that if fraud has been found to have been committed, then the Company's directors are legally responsible and could be charged?

David Southern, Campbell Ogilvie: you might be able to see the floodlights of the old stadium if you get the right cell in Saughton :greengrin

[greengnome]

It's an oft used phrase, but that was a genuine 'spit your tea oot' moment :faf:

....you also missed out 'I haven't got a job and am totally desperate' from your description above :greengrin



But... The deluded ones over the channel see him as a top guy, could be assistant to Glockey, AND..... Yes the Hibs get a mention... We are never far from their minds... :greengrin

[therealgavmac]

I see the article was written by Richard Wilson. Hearts certainly do have one foot in the grave.

I don't believe it....... #allisbarry :greengrin

[Kaiser1962]

Actually, I beg to differ. The fans lapped up every false promise and ambition that Romanov fed to them. Not for one nano-second did they stop and ask a few pertinent questions, e.g. how can a club pay wages that are more than 100% of turnover, where is the money coming from, what happens when the merry-go-round stops and a dozen others that, if they had had the inclination to ask, would have meant that they would have realised that this was not a situation that could go on indefinitely.

They allowed their "Big Team" delusion to block out what was obvious to everyone else.

When it all comes out in the wash, I only hope that they are forced to face up to the orgy of blatant cheating they have willingly indulged in.


"We owe it to ourselves"

Aye. So ye do. Ya fuds.

[Time For Heroes]

balaclavas?

Ski masks

[Time For Heroes]

My old man had a heart attack today, successful operation, told him about the Scotsman article and he smiled and said he'd be out for the party.

Glad the op went well mate, wishing him a speedy recovery.

[Baader]

Medals McKay, Fatty Foulkes and now Jumbo Jeffries denouncing the regime...

They weren't so quick to distance themselves from it in the past - didn't hear Jeffries complain about them when he was taking a wage...

[FranckSuzy]

Here's today's article from The Herald:

Hearts are on the brink, both of crisis and salvation.

The situation at the Tynecastle club grows graver by the day, and it seems unlikely that Heart of Midlothian plc will avoid falling into administration. Yet that turn of events may be necessary for a rescue bid to succeed. That dilemma is being faced by all of the potential buyers of the company that owns the club, and it appears certain that further distress must be suffered before Hearts can be saved.

Half of the £104,000 bill owed to Her Majesty's Revenue and Customs has been paid, but a winding-up order will be served if the remaining balance is not met. The salary bill was not paid in full on Friday, leading to a registration embargo automatically being implemented by the Scottish Premier League. That in itself would be a minor consideration, since a club in financial difficulties will not be on a recruitment drive, but the board have effectively invited offers for all of their players and the squad could be stripped of its best talent. With season ticket sales having fallen, Hearts need £500,000 just to survive until the beginning of the season.

These are the details, but it is the bigger picture that is so debilitating. A VAT bill from the season tickets already sold will need to be paid before the end of the month and could be more than £1m, while a further PAYE bill will be due at the same time. With all of the season ticket revenue already committed, Hearts face critical cash flow problems. However, a controlling stake cannot be purchased at this time. BBC Scotland reported yesterday that there are six potential buyers monitoring events, although those close to the situation believe that the Foundation of Hearts – a coalition of supporters groups – is best placed to make an offer to save the club. Members of the FoH board addressed fans on Friday night, and afterwards Ian Murray, the independent chair and Edinburgh South Labour MP, admitted that administration might be necessary to solve Hearts' problems.

FoH have generated more than 4000 pledges to their website, which crashed at one stage last week due to the sheer volume of visitors, and they are now beginning the process of turning those pledges into cash, as well as seeking new backers amongst the fans. Members of the Edinburgh business community, including Ann Budge, the multi-millionaire who earned her fortune in IT, will also provide financial support, and the intention is to lodge a bid by July 4. Of the remaining parties reportedly interested in buying the club, three are from North America, one is based in London and the other has already been revealed as a consortium of Scandinavia-based businessmen. The latter have spoken with FoH about a joint bid, and further talks will clarify their intentions.

Although Hearts need a quick solution, nobody can move any more swiftly. Ukio Bankas hold 29.9% of the club, as well as ownership of Tynecastle Stadium as security against a £15m debt. The bank is now insolvent, and the administrator stressed last week that the intention is to sell the shares as part of maintaining Hearts as a going concern. A further 50% of shares is held by UBIG, the investment group which has yet to be formally placed into administration by the Lithuanian court. Although essentially now just a shell company, its assets have been frozen and the 50% shareholding cannot yet be sold.

Once UBIG, who are owed £10m by Hearts, are formally declared insolvent, it is likely the Scottish Premier League will rule that the Tynecastle club are technically in administration. This would cause the team to begin next season with a 15-point deficit, while the new Scottish Professional Football League rulebook will contain several scenarios if HFC plc were to eventually be liquidated.

"We have a rulebook, and it covers all eventualities," said Neil Doncaster, the SPL chief executive. "In the event that anything happens to any member clubs of that new league after June 27, it will be up to the new board and the new rulebook to determine what happens."

Administration would at least clarify the situation for potential new owners, and the insolvency process would strip Hearts of their debt. The intention of FoH is to buy 51% of the club to enable fan ownership and they are willing to work alongside other potential investors. Ian Murray's role is crucial, since his status as an independent figure has helped align fan groups, while he is also widely respected by key individuals in Lithuania.

The administrators of Ukio Bankas want Hearts to remain as a solvent business, having agreed terms on interest payments on the £15m loan until 2015, but they are also likely to work in conjunction with any administrators appointed to UBIG to sell the Hearts shares as a single package. The situation is complicated, but a rescue plan is possible. It will require significant funds, although the cash flow problems can be addressed within 12 to 18 months, but more setbacks will also have to be overcome.

Eh? :grr: Great article but come on!

[FranckSuzy]

My old man had a heart attack today, successful operation, told him about the Scotsman article and he smiled and said he'd be out for the party.

Get well soon Mr Leishy Snr :aok: Hopefully all of this good news will be the best medicine :agree: :greengrin

[hibbymac]

Even Jim Jefferies admits they cheated to win 2 cups. :fenlon:yw:

http://www.thescottishsun.co.uk/scotsol/homepage/sport/4969515/Blame-it-on-Vlads-wild-promises.html

HEARTS legend Jim Jefferies believes trying to bankroll Vladimir Romanov’s wild promises wrecked the Jambos.

Jefferies fears for the club he captained with distinction and who sacked him in his second spell as boss nearly two years ago.

The Dunfermline boss, 62, is in no doubt Hearts’ downfall started in 2005 when Romanov arrived with far-fetched promises such as winning the Champions League inside 10 years and recruiting World Cup players.

And their troubles have nothing to do with the Jambos supporters.

Jefferies said: “I can’t believe the suggestions that the supporters are to blame. The supporters have been fantastic, they’ve probably kept them afloat, so I don’t know where that has come from.

“There’s only one reason they’re in this position, mis-management and the money wasted on trying to chase certain promises.

“It’s there for all clubs if someone with a lot of money comes in, you either make a success of it or throw it away with bad decisions — and there’s been many of them.

“When you keep throwing money at it there’s going to come a time when it’s going to run out and that’s what’s happened now.

“I’m talking about the football side, because it would be wrong for me to comment on any other part of the club, because I don’t know how they operate or what effect it had on running Hearts.

“But obviously a lot of money was thrown at Hearts. There’s a couple of cup final successes but a lot of the time it’s come at a cost — and that cost cannot be met.

“You see what happened to Rangers and you just hope for the best for Hearts.

“It looks like they will be losing players, although I think clubs will wait and see how things pan out. They’re never going to pay money for players they might get for nothing further down the line.”


Good to see JJ helping the "fire sale" :faf:

[Part/Time Supporter]

The notion expressed by the "Hearts insider" in the SOS that Hearts are being run efficiently ("a lean club" (http://www.scotsman.com/sport/football/top-football-stories/hearts-face-administration-within-10-days-1-2968705)) with about 150 employees, split roughly 90-60 between players and support staff, is highly amusing. Hibs had 90 staff total on average in 2011/12 - 64 players and 26 support staff. Now I know Hearts are a "big team" and all that jazz, but is there really that much more work to be done by them?

[Leishy1995]

Glad the op went well mate, wishing him a speedy recovery.

He's doing well. Sent me and my sister away to the hibs ladies match so Shanny can play

[Leishy1995]

Get well soon Mr Leishy Snr :aok: Hopefully all of this good news will be the best medicine :agree: :greengrin

Yeah he smile and said he'd make it out for the party if it happens

[Treadstone]

The notion expressed by the "Hearts insider" in the SOS that Hearts are being run efficiently ("a lean club" (http://www.scotsman.com/sport/football/top-football-stories/hearts-face-administration-within-10-days-1-2968705)) with about 150 employees, split roughly 90-60 between players and support staff, is highly amusing. Hibs had 90 staff total on average in 2011/12 - 64 players and 26 support staff. Now I know Hearts are a "big team" and all that jazz, but is there really that much more work to be done by them?

Stairs dinnae paint themselves! :faf:

[Baader]

Stairs dinnae paint themselves! :faf:

How many Yam employees does it take to change a 100W lightbulb?

[hibees 7062]

Good looking guy,if Locke Disney want him he maybe could get a modelling job

Modelling what I have not figured out yet

Concrete

[GloryGlory]

The notion expressed by the "Hearts insider" in the SOS that Hearts are being run efficiently ("a lean club" (http://www.scotsman.com/sport/football/top-football-stories/hearts-face-administration-within-10-days-1-2968705)) with about 150 employees, split roughly 90-60 between players and support staff, is highly amusing. Hibs had 90 staff total on average in 2011/12 - 64 players and 26 support staff. Now I know Hearts are a "big team" and all that jazz, but is there really that much more work to be done by them?

Painting steps and writing press releases about painting steps?

:greengrin

[Iain G]

Medals McKay, Fatty Foulkes and now Jumbo Jeffries denouncing the regime...

They weren't so quick to distance themselves from it in the past - didn't hear Jeffries complain about them when he was taking a wage...

Was Fatty not one of the key people involved in introducing Mr Romanov :wink: to the Jumbos? Him and that erse Cardownie IIRC were fairly central and happy to sup from the devils cup when it suited them :agree:

[The Leith Dutch]

Am I right in saying that if fraud has been found to have been committed, then the Company's directors are legally responsible and could be charged?

David Southern, Campbell Ogilvie: you might be able to see the floodlights of the old stadium if you get the right cell in Saughton :greengrin

Wouldn't that imply the leccy hasn't been cut off :greengrin

[Iain G]

The notion expressed by the "Hearts insider" in the SOS that Hearts are being run efficiently ("a lean club" (http://www.scotsman.com/sport/football/top-football-stories/hearts-face-administration-within-10-days-1-2968705)) with about 150 employees, split roughly 90-60 between players and support staff, is highly amusing. Hibs had 90 staff total on average in 2011/12 - 64 players and 26 support staff. Now I know Hearts are a "big team" and all that jazz, but is there really that much more work to be done by them?

You would have thought they would have gotten rid of all of Nade's "shifters and movers" when he left...of course maybe they still needed them to move all them boxes for the New Stand application to the Cooncil...

[jacomo]

Medals McKay, Fatty Foulkes and now Jumbo Jeffries denouncing the regime...

They weren't so quick to distance themselves from it in the past - didn't hear Jeffries complain about them when he was taking a wage...

No shame from any of them. They should be holding their hands up and apologising for playing their part in the death of HMFC, but of course they won't.

[Sanger]

Wouldn't that imply the leccy hasn't been cut off :greengrin
Certainly fraud in the share issue broke section 118 of the the 2000 Financial services and market act. Must be fraud involved in the loans from UB to UBIG and onto HMFC when most of these loans have been forgiven or turned into equity. It will turn out once UBIG officially declared insolvent and its administrator appointed that UBIG's sole source of finance was loans from UB. I am certain too that Romanov and co creamed the top off these loans and have them hidden away somewhere. This is the likely root of the fraud investigation into the missing £12m and arrest warrant.

[greengnome]

No shame from any of them. They should be holding their hands up and apologising for playing their part in the death of HMFC, but of course they won't.



Just been having a look at the Sunday papers, this Iain MacLeod, is he for real?


He said: “I’d say it’s been worth it. If someone said to me at the start that we’d have won two Scottish Cups — beating Hibs 5-1 in the second — then I’d have stopped them at that point and said ‘yes, thank you’.
“We are where we are. Looking back, I’d have taken it and so would everyone else at the Foundation of Hearts meeting on Friday.
“I can understand a lack of sympathy within Easter Road but I’m not too interested in other people’s opinions.
“They’re not going to ride to our rescue so it’s down to us. We have to put that aside and get on with the job. It is really difficult.

He got one thing right..... We aint' going to ride to their rescue.... We are Hibs Class... :greengrin

[whiskyhibby]

Must admit I never thought any thread would come close to the Rangers one,this thread is catching up rapidly and once the Yam coffin is getting lowered in to the ground it will pass the Huns thread easily

The Tynecastle Circus............the gift that keeps on giving :-))

[Springbank]

Iain Macleod - if you were asked "would you cheat schoolchildren out of a teacher or sick & dying patients out of healthcare in Lithuania to have a very short term bit of success then watch your club die" you would say yes?

The next trophy win in Edinburgh will at least be green and it will be merited.

[macca70]

Just been having a look at the Sunday papers, this Iain MacLeod, is he for real?


He said: “I’d say it’s been worth it. If someone said to me at the start that we’d have won two Scottish Cups — beating Hibs 5-1 in the second — then I’d have stopped them at that point and said ‘yes, thank you’.
“We are where we are. Looking back, I’d have taken it and so would everyone else at the Foundation of Hearts meeting on Friday.
“I can understand a lack of sympathy within Easter Road but I’m not too interested in other people’s opinions.
“They’re not going to ride to our rescue so it’s down to us. We have to put that aside and get on with the job. It is really difficult.

He got one thing right..... We aint' going to ride to their rescue.... We are Hibs Class... :greengrin

Unbelievable, and this is the opinion of many hearts fans I speak to. Given the chance to go back in time, They wouldn't change anything so here's my opinion,, Hearts can be left to drown in their own pish. We have been trying to tell them for years that this was only ever going to end 1 way but they couldn't here us as they were playing there Champions League music too loud and singing about there love for Vladimir Romanov.

Absolute belters, all of them.

[Geo_1875]

Just been having a look at the Sunday papers, this Iain MacLeod, is he for real?


He said: “I’d say it’s been worth it. If someone said to me at the start that we’d have won two Scottish Cups — beating Hibs 5-1 in the second — then I’d have stopped them at that point and said ‘yes, thank you’.
“We are where we are. Looking back, I’d have taken it and so would everyone else at the Foundation of Hearts meeting on Friday.
“I can understand a lack of sympathy within Easter Road but I’m not too interested in other people’s opinions.
“They’re not going to ride to our rescue so it’s down to us. We have to put that aside and get on with the job. It is really difficult.

He got one thing right..... We aint' going to ride to their rescue.... We are Hibs Class... :greengrin

It's a bit like being offered a go on Cameron Diaz but only if you become celibate afterwards. I'd give it serious consideration but turn it down. On the other hand if you made the same offer to a virgin they might bite your hand off without considering the future.

[magpie1892]

Simply an open letter to Ann Budge and other Hearts mug. We've seen these begging letters before. Mention that Hearts will go bust and the reluctant punters will stump up.

The best was the one to (I think) Bill Gates.

[greengnome]

Unbelievable, and this is the opinion of many hearts fans I speak to. Given the chance to go back in time, They wouldn't change anything so here's my opinion Ian Murray, Hearts can be left to drown in their own pish. We have been trying to tell them for years that this was only ever going to end 1 way but they couldn't here us as they were playing there Champions League music too loud and singing about there love for Vladimir Romanov.

Absolute belters, all of them.


Then, and maybe it is my ignorance?.. What's their problem? They enjoyed the "Good Times", so enjoy the bad times too..... Hell... The Hibbies are!! :devil:

[PapillonVert]

The notion expressed by the "Hearts insider" in the SOS that Hearts are being run efficiently ("a lean club" (http://www.scotsman.com/sport/football/top-football-stories/hearts-face-administration-within-10-days-1-2968705)) with about 150 employees, split roughly 90-60 between players and support staff, is highly amusing. Hibs had 90 staff total on average in 2011/12 - 64 players and 26 support staff. Now I know Hearts are a "big team" and all that jazz, but is there really that much more work to be done by them?

"Lean" only because they are on a forced starvation diet!

[Bishop Hibee]

Iain McLeod, a shameful excuse for an MP. How a numskull like that gets into a position of power and influence is shameful but of course mcleod, jeffries, mckay and co know no shame.

[magpie1892]

Iain McLeod, a shameful excuse for an MP. How a numskull like that gets into a position of power and influence is shameful but of course mcleod, jeffries, mckay and co know no shame.

Dunno about Jeffries. Kind of warming to him in that he's on the record saying that no-one will pay for players they'll be able to get for free in a week or so.

[Big Ed]

Just been having a look at the Sunday papers, this Iain MacLeod, is he for real?


He said: “I’d say it’s been worth it. If someone said to me at the start that we’d have won two Scottish Cups — beating Hibs 5-1 in the second — then I’d have stopped them at that point and said ‘yes, thank you’.
“We are where we are. Looking back, I’d have taken it and so would everyone else at the Foundation of Hearts meeting on Friday.
“I can understand a lack of sympathy within Easter Road but I’m not too interested in other people’s opinions.
“They’re not going to ride to our rescue so it’s down to us. We have to put that aside and get on with the job. It is really difficult.

He got one thing right..... We aint' going to ride to their rescue.... We are Hibs Class... :greengrin


He is perceived as one of the smarter cookies amongst the Puddle Drinkers: hardly a ringing endorsement!

He was one of the more prominent ones who smoked out Robinson for his “Tynecastle is not UEFA compliant” bollocks and it was rumoured that he declined an invitation onto the board when Romanov took over.

I suspect that all his 5-1 blarney, is merely a smokescreen to disguise the fact that he was one of the few who had the credibility expose Romanov and, like the rest of their ovine support: he filled his boxers.

“It is really difficult”… well ye got that right!

Maybe you could start by baking a Dundee Cake and ….

Oh Wait…:titanic:

[Tinribs]

Her husband and kids are Hearts fans :agree:

She's a worry like. Very charitable lady indeed :paranoid:

If Neil is a Hearts fan, then he kept bloody quiet about it when i knew him.
OFC he may be one of the "sleeping" 400k closet fans that they spout about :rolleyes:

[jgl07]

Iain McLeod, a shameful excuse for an MP. How a numskull like that gets into a position of power and influence is shameful but of course mcleod, jeffries, mckay and co know no shame.

Eh?

Iain McLeod MP died in 1970!

[greengnome]

Eh?

Iain McLeod MP died in 1970!




Apologies all....... Ian Murray!!!!! Go stand in the corner Gnome :confused:

[lucky]

I doubt any business person is going to buy into the club just now. They will wait until administration or liquidation and pick them up cheaper with no debt. Administration is likely to lead to relegation next season but not a certainty and liquidation then they will go a journey like Rangers. Very few millionaires part with their money easily so I can't see away of them getting out of this mess. But I'm enjoying the slow lingering death of them

[Ozyhibby]

Interesting that 'Hobo economist' seems to have disappeared as an 'insult' over on Kickback.

[Billy Whizz]

Speaking to someone yesterday who "knows a few people" and he was saying that there were interested parties, but not if they were hit with a 15 point penalty. Come on SPL, you know what to do

[jacomo]

Iain Macleod - if you were asked "would you cheat schoolchildren out of a teacher or sick & dying patients out of healthcare in Lithuania to have a very short term bit of success then watch your club die" you would say yes?

The next trophy win in Edinburgh will at least be green and it will be merited.

Cheating the public purse in the UK too, of course, assuming they default on debts to HMRC.

[jacomo]

Interesting that 'Hobo economist' seems to have disappeared as an 'insult' over on Kickback.

I imagine they have no trouble hearing the 'Tick Tock' these days either...

[Part/Time Supporter]

Speaking to someone yesterday who "knows a few people" and he was saying that there were interested parties, but not if they were hit with a 15 point penalty. Come on SPL, you know what to do

To be honest they would be better off without buyers who drop all interest in owning them if the team is deducted 15 points in one league season. Surely the point of owning a football club is to invest, manage and grow it over many years, if not decades?

[YehButNoBut]

The Tynecastle Circus............the gift that keeps on giving :-))

We've been lucky the last 2 close seasons, they normally take ages to pass with no footie.

Last year it was the Rangers circus :lolrangers: & this year it's the Hearts circus :lolyam:, both have been tremendous entertainment.

[hibees 7062]

Dunno about Jeffries. Kind of warming to him in that he's on the record saying that no-one will pay for players they'll be able to get for free in a week or so.

Wash your mouth out :greengrin

[Sanger]

Interesting that 'Hobo economist' seems to have disappeared as an 'insult' over on Kickback.
Hobo economist! I was head of research at Goldman Sachs and spoken at the Nobel conference on finance. I might have had a hobo upbringing but I certainly am a bonafide economist!

[The_Sauz]

Just off the phone to my son who is a Jambo (STH and has a small amount of real shares :rolleyes:) , and he told me that he phoned Ian Murray yesterday and asked about the 3 North American company's that were interested in Hearts, and all he was told was "No info would be given out until all the pledges were turned into cash" So he asked were in North America did they come from! Again IM repeated about the pledges, then put the phone down!
Now my son honestly believes that the 3 NA groups story is bull s*** :agree:

[Billy Whizz]

To be honest they would be better off without buyers who drop all interest in owning them if the team is deducted 15 points in one league season. Surely the point of owning a football club is to invest, manage and grow it over many years, if not decades?

I agree, just thinking that who may buy them, needs to be in the SPL, as their business plan may indicate that. A 15 point penalty may be sufficient to relegate them

[Hermit Crab]

Just off the phone to my son who is a Jambo (STH and has a small amount of real shares :rolleyes:) , and he told me that he phoned Ian Murray yesterday and asked about the 3 North American company's that were interested in Hearts, and all he was told was "No info would be given out until all the pledges were turned into cash" So he asked were in North America did they come from! Again IM repeated about the pledges, then put the phone down!
Now my son honestly believes that the 3 NA groups story is bull s*** :agree:

Publicity stunt to get fans to pledge?

[bingo70]

Publicity stunt to get fans to pledge?

More likely that they're still trying to convince themselves they're a big club, even at this late stage of there existance.

[FranckSuzy]

Loving the new avatar :greengrin Nice work Jonty :agree: :wink:

[Hermit Crab]

More likely that they're still trying to convince themselves they're a big club, even at this late stage of there existance.

Even on their last legs they still come out big team this Scottish cup that. We all know the truth though. They will wake up sometime.

[jonny]

I agree, just thinking that who may buy them, needs to be in the SPL, as their business plan may indicate that. A 15 point penalty may be sufficient to relegate them

Have you seen their squad? If they lose another player or 2 - which they inevitably will then they'll be relegated without the penalty. They've nobody of any real quality left. The best they have is a couple of kids with a bit of potential but haven't really proved themselves.
I hope they scrape through until the 1st derby, I don't normally go to Tynie because I detest the place but would not be able to stay away as a repeat of the famous 0-7 scoreline could be on the cards.

[Viva_Palmeiras]

Even on their last legs they still come out big team this Scottish cup that. We all know the truth though. They will wake up sometime.

Im told Hearts anthems rang out as the band played on whilst the Titanic sank...

[CyberSauzee]

Just off the phone to my son who is a Jambo (STH and has a small amount of real shares :rolleyes:) , and he told me that he phoned Ian Murray yesterday and asked about the 3 North American company's that were interested in Hearts, and all he was told was "No info would be given out until all the pledges were turned into cash" So he asked were in North America did they come from! Again IM repeated about the pledges, then put the phone down!
Now my son honestly believes that the 3 NA groups story is bull s*** :agree:

:agree:

Last year the old Huns had one interested party from the US, businessman Bill Miller. So how come a much, much smaller club then the Huns can attract 3 times the interest from the States, yet no-one knows who they are?

Your son has already given us the correct answer.

[blackpoolhibs]

Just off the phone to my son who is a Jambo (STH and has a small amount of real shares :rolleyes:) , and he told me that he phoned Ian Murray yesterday and asked about the 3 North American company's that were interested in Hearts, and all he was told was "No info would be given out until all the pledges were turned into cash" So he asked were in North America did they come from! Again IM repeated about the pledges, then put the phone down!
Now my son honestly believes that the 3 NA groups story is bull s*** :agree:

I disagree, so much so i have just pledged another £100.

[JHFC]

I disagree, so much so i have just pledged another £100.

For you doing that I am going to pledge 100 x 2.

[Part/Time Supporter]

:agree:

Last year the old Huns had one interested party from the US, businessman Bill Miller. So how come a much, much smaller club then the Huns can attract 3 times the interest from the States, yet no-one knows who they are?

Your son has already given us the correct answer.

I suspect that one of the allegedly "interested parties" will be the Americans who are offering to invest in Dundee. One of their representatives said on a Radio Scotland interview a couple of weeks back that "a couple of [other] Scottish clubs" had contacted them since it became public that they were negotiating with Dundee. You've got to believe that one of those other clubs would be Hearts. The guy then went on to say that Dundee was really the only opportunity that they were interested in because its size and the scale of investment needed fit best with their requirements, and that they wouldn't be talking to anyone else until the deal with Dundee is either completed or falls through.

http://www.bbc.co.uk/sport/0/football/22667345

[blackpoolhibs]

For you doing that I am going to pledge 100 x 2.

Well done, we cant see a terrific institution like this go down the tubes. :wink: Sod it, i'm giving them another £100. :thumbsup:

[lucky]

It's seems as many Hibs fans have pledged as puddle drinkers. Can't wait for them to start to collect the cash:greengrin

[NAE NOOKIE]

Just been having a look at the Sunday papers, this Iain MacLeod, is he for real?


He said: “I’d say it’s been worth it. If someone said to me at the start that we’d have won two Scottish Cups — beating Hibs 5-1 in the second — then I’d have stopped them at that point and said ‘yes, thank you’.
“We are where we are. Looking back, I’d have taken it and so would everyone else at the Foundation of Hearts meeting on Friday.
“I can understand a lack of sympathy within Easter Road but I’m not too interested in other people’s opinions.
“They’re not going to ride to our rescue so it’s down to us. We have to put that aside and get on with the job. It is really difficult.

He got one thing right..... We aint' going to ride to their rescue.... We are Hibs Class... :greengrin

Kind of sums up their attitude in a nutshell really.

If ever a set of supporters deserved to see their club die its that lot. Yes they have pumped money in when asked and theres no doubt they have done all they can to see their club survive, as the fans of any club would .. much as they would like to think so, they are not unique in that respect.

But their utter failure to admit that they are culpable in this mess is nothing short of astonishing. How long ago was the first failure to pay players wages?. Years after Mad Vlad ranted on about Galactico players, new stands, winning the league and Champions League football they had seen the sum total of zip apart from one brief flirtation with the CL and two Scottish Cup wins achieved by nothing less than financial cheating. And yet nobody asked questions, nobody stood back and went, bloody hell! .............. Where is this guy taking the club?

They heard the likes of St Mirren and a number of other Clubs express their frustration that Homfc were beating them to the punch for players and asking how that was possible when they had failed to pay their players on time a number of times. They stood back and laughed at that one ..... big team etc etc.

Now its all .... boo hoo hoo .... poor us.

Tell ya what Mr MacLeod ......... That should read Scottish football, not Easter Road.

[blackpoolhibs]

It's seems as many Hibs fans have pledged as puddle drinkers. Can't wait for them to start to collect the cash:greengrin

I'm prepared to hand over every penny i have personally pledged. :wink:

[21.05.2016]

Even on their last legs they still come out big team this Scottish cup that. We all know the truth though. They will wake up sometime.

We've been saying that for years mate yet here we still are! Club absolutely crippled yet the mutants still giving it the big un, tryna convince themselves they are a big club.

[Coco Bryce]

Just had a jambo friend say to me 'you should really pledge to FoH because Hibs need us' :rolleyes:

I told him, I've pledged loads of times :na na:

[SteveHFC]

My reaction to the latest news

http://24.media.tumblr.com/tumblr_m89asnCo9W1rawiuoo1_500.gif

[Pretty Boy]

http://www.hmfckickback.co.uk/index.php?/topic/129096-right-we-all-need-a-little-cheering-up/#entry3644029

And still!

[Andy74]

http://www.hmfckickback.co.uk/index.php?/topic/129096-right-we-all-need-a-little-cheering-up/#entry3644029

And still!

It's even funnier that they are still celebrating it as if it actually bothers us. I'll take their actual death over our supposed death any time thanks.

Our death seems to involve beating them, getting to cup finals again and having more season ticket holders than they do. Seems fair.

[Ryan91]

My reaction to the latest news

http://24.media.tumblr.com/tumblr_m89asnCo9W1rawiuoo1_500.gif

SteveHFC - always there with a GIF for every occasion

[Pete]

http://www.hmfckickback.co.uk/index.php?/topic/129096-right-we-all-need-a-little-cheering-up/#entry3644029

And still!

It's getting embarrassing now. I'm almost feeling sorry for them.

[RickyS]

Kind of sums up their attitude in a nutshell really.

If ever a set of supporters deserved to see their club die its that lot. Yes they have pumped money in when asked and theres no doubt they have done all they can to see their club survive, as the fans of any club would .. much as they would like to think so, they are not unique in that respect.

But their utter failure to admit that they are culpable in this mess is nothing short of astonishing. How long ago was the first failure to pay players wages?. Years after Mad Vlad ranted on about Galactico players, new stands, winning the league and Champions League football they had seen the sum total of zip apart from one brief flirtation with the CL and two Scottish Cup wins achieved by nothing less than financial cheating. And yet nobody asked questions, nobody stood back and went, bloody hell! .............. Where is this guy taking the club?

They heard the likes of St Mirren and a number of other Clubs express their frustration that Homfc were beating them to the punch for players and asking how that was possible when they had failed to pay their players on time a number of times. They stood back and laughed at that one ..... big team etc etc.

Now its all .... boo hoo hoo .... poor us.

Tell ya what Mr MacLeod ......... That should read Scottish football, not Easter Road.

absolutely spot on my friend, sums my feelings up exactly, i said to a puddle drinker yesterday when he was spouting pish about how the loss of the countries third biggest club would mean other smaller clubs going bust due to drops in income (aye honestly) that every other club wid laugh as their coffin was being lowered no just us:greengrin

[Gus Fring]

http://www.hmfckickback.co.uk/index.php?/topic/129096-right-we-all-need-a-little-cheering-up/#entry3644029

And still!

:faf:

They're only doing it because there's no match thread for 7-0. I like watching them scraping around looking for anything to cling to, anything at all.

"Maybe past players can chip in?"
"JK Rowling is going to buy us"
"Are we due any money from player sales?"
"Can Wonga not help us out"

Let them have 5-1, they can keep it. It has no value. It cannot be sold nor milked for cash. For them it is symbolic of beating their fiercest rivals.

For us it symbolises all that is wrong with Hearts. It reminds us of how they allowed their club to be gutted and battered into submission. How the money spent would come back to haunt them in their dying days and how each and every Hearts fan stood back and let it happen and in most cases, encouraged it. Hearts fans claim 5-1 "killed us" It appears to me that the opposite is true. Hearts haven't beaten us since that day and it's unlikely they'll get a chance to any time soon.

Big Team?

Wee Team?

ONLY TEAM!

:fenlon

[fat freddy]

Iain Murray (M.P.) enters the Dragon's Den..

''I am looking for a 5 million pound investment to finance the takeover of a world renowned football institution. Your investment will gain you 49% of the business with the other 51% belonging to the supporters who will purchase their share of the club via the standard, industry recognised 'Pledge Method'. It is anticipated that you will double your money over a 5 year period as we envisage the brand dominating the European market place due to the brilliance of our youth academy conveyor belt which continues to produce players of world class status. Players of exceptional ability would be sold to further increase the returns for investors''

Duncan Bannatyne..'' Can you give us an example of the type of player you are referring to?''

Iain Murray..''Kevin McHattie is expected to net around 4 million in the upcoming fire sale''

Peter Jones..''Your figures dont add up...how do you know for sure these pledgers will come up with over 5 million pounds?''

Iain Murray.. ''We are the Big Team, we have 400,000 supporters. J.K. Rowlings husband supports us which means he will make his wife chip in with a few million''

Deborah Meadon..''How do you intend to dominate Europe if you are in the third division next season?''

Iain Murray..''We will win the Scottish Cup against The Hobos and gain entry through that avenue.. 5-1, 1902''

Theo Paphitis..''Im involved in the retail sector, what are your club merchandise forecasts for the coming year?''

Iain Murray..''We have a range of wonga t-shirts available, we expect to sell 400,000 of these through our state of the art megastore on Gorgie Road. We also have an army of trained bakers who make a variety of cakes which could be sold on the wider market. We just need an investor who can facilitate the logistics of getting the products from ovens to store shelves''.

Hilary Devey..''Im in the haulage game, i can transport as many cakes as you can bake so i can see the an avenue where i can get a return for my investment. I'm considering making you an offer but i would like to know a little bit more about the people behind the scenes at the club...who do you envisage taking charge of media communications?

Iain Murray..''Barry Anderson''

Hilary Devey.. ''Im out''

Peter Jones.. ''Im out''

Duncan Bannatyne.. ''Im out''

Theo Paphitis..''Im out''

Deborah Meadon.. ''Im out''

Iain Murray..'' 5-1, 1902, forever in our shadow, big team, 40 thousand seater stadium, the hobos died on 19th may ect ect''

Producer..''Turn the lights out when you leave, Iain''

[Pretty Boy]

It's even funnier that they are still celebrating it as if it actually bothers us. I'll take their actual death over our supposed death any time thanks.

Our death seems to involve beating them, getting to cup finals again and having more season ticket holders than they do. Seems fair.

The best part is trying to explain to them how that game didn't get close to killing us, they are convinced we are all in denial.

[Jack]

absolutely spot on my friend, sums my feelings up exactly, i said to a puddle drinker yesterday when he was spouting pish about how the loss of the countries third biggest club would mean other smaller clubs going bust due to drops in income (aye honestly) that every other club wid laugh as their coffin was being lowered no just us:greengrin

Third biggest club going bust?

Should have told him the third biggest club is doing just fine and selling more season tickets for next season than any of the last few seasons :-)

You could have told him how the third biggest club have just strengthened the backroom staff and about our recent signings.

The 'smaller' clubs are likely to benefit from an ever increasing away support that follow the third biggest club.

Nah, tell your pall we're fine thanks.

[blackpoolhibs]

Iain Murray (M.P.) enters the Dragon's Den..

''I am looking for a 5 million pound investment to finance the takeover of a world renowned football institution. Your investment will gain you 49% of the business with the other 51% belonging to the supporters who will purchase their share of the club via the standard, industry recognised 'Pledge Method'. It is anticipated that you will double your money over a 5 year period as we envisage the brand dominating the European market place due to the brilliance of our youth academy conveyor belt which continues to produce players of world class status. Players of exceptional ability would be sold to further increase the returns for investors''

Duncan Bannatyne..'' Can you give us an example of the type of player you are referring to?''

Iain Murray..''Kevin McHattie is expected to net around 4 million in the upcoming fire sale''

Peter Jones..''Your figures dont add up...how do you know for sure these pledgers will come up with over 5 million pounds?''

Iain Murray.. ''We are the Big Team, we have 400,000 supporters. J.K. Rowlings husband supports us which means he will make his wife chip in with a few million''

Deborah Meadon..''How do you intend to dominate Europe if you are in the third division next season?''

Iain Murray..''We will win the Scottish Cup against The Hobos and gain entry through that avenue.. 5-1, 1902''

Theo Paphitis..''Im involved in the retail sector, what are your club merchandise forecasts for the coming year?''

Iain Murray..''We have a range of wonga t-shirts available, we expect to sell 400,000 of these through our state of the art megastore on Gorgie Road. We also have an army of trained bakers who make a variety of cakes which could be sold on the wider market. We just need an investor who can facilitate the logistics of getting the products from ovens to store shelves''.

Hilary Devey..''Im in the haulage game, i can transport as many cakes as you can bake so i can see the an avenue where i can get a return for my investment. I'm considering making you an offer but i would like to know a little bit more about the people behind the scenes at the club...who do you envisage taking charge of media communications?

Iain Murray..''Barry Anderson''

Hilary Devey.. ''Im out''

Peter Jones.. ''Im out''

Duncan Bannatyne.. ''Im out''

Theo Paphitis..''Im out''

Deborah Meadon.. ''Im out''

Iain Murray..'' 5-1, 1902, forever in our shadow, big team, 40 thousand seater stadium, the hobos died on 19th may ect ect''

Producer..''Turn the lights out when you leave, Iain''

One last question from latecomer James Caan, how much have you spent so far of your own money before bringing this fantastic business opportunity to the dragons?

[Gus Fring]

One last question from latecomer James Caan, how much have you spent so far of your own money before bringing this fantastic business opportunity to the dragons?

Don't be bringing James Caan in, he's an expert in Tax Avoidance:worried:

[portyhibernian]

One last question from latecomer James Caan, how much have you spent so far of your own money before bringing this fantastic business opportunity to the dragons?

Class:thumbsup: I'm absolutely loving this thread!

[Prof. Shaggy]

Hobo economist! I was head of research at Goldman Sachs and spoken at the Nobel conference on finance. I might have had a hobo upbringing but I certainly am a bonafide economist!

Top Capitalist Finance folk ken whit's going on.

[The_Sauz]

Publicity stunt to get fans to pledge?
That's what he said :agree: He thinks they are trying to copy what Servco were doing with all those fantasy groups waiting to buy them!
He also thinks that it was Foulkes that was behind Ian Murray getting the spokesman job, as he (Foulkes) was a Romanaov puppet and the fans could not trust him.

[Viva_Palmeiras]

In the US they had Fanny Mac and Lehman Bros. Hearts on the otherhand are just phannies ;)

[The_Sauz]

I disagree, so much so i have just pledged another £100.

I said to him, that what he has told me, would not go down well on .Net :greengrin

[Seveno]

Iain Murray (M.P.) enters the Dragon's Den..

''I am looking for a 5 million pound investment to finance the takeover of a world renowned football institution. Your investment will gain you 49% of the business with the other 51% belonging to the supporters who will purchase their share of the club via the standard, industry recognised 'Pledge Method'. It is anticipated that you will double your money over a 5 year period as we envisage the brand dominating the European market place due to the brilliance of our youth academy conveyor belt which continues to produce players of world class status. Players of exceptional ability would be sold to further increase the returns for investors''

Duncan Bannatyne..'' Can you give us an example of the type of player you are referring to?''

Iain Murray..''Kevin McHattie is expected to net around 4 million in the upcoming fire sale''

Peter Jones..''Your figures dont add up...how do you know for sure these pledgers will come up with over 5 million pounds?''

Iain Murray.. ''We are the Big Team, we have 400,000 supporters. J.K. Rowlings husband supports us which means he will make his wife chip in with a few million''

Deborah Meadon..''How do you intend to dominate Europe if you are in the third division next season?''

Iain Murray..''We will win the Scottish Cup against The Hobos and gain entry through that avenue.. 5-1, 1902''

Theo Paphitis..''Im involved in the retail sector, what are your club merchandise forecasts for the coming year?''

Iain Murray..''We have a range of wonga t-shirts available, we expect to sell 400,000 of these through our state of the art megastore on Gorgie Road. We also have an army of trained bakers who make a variety of cakes which could be sold on the wider market. We just need an investor who can facilitate the logistics of getting the products from ovens to store shelves''.

Hilary Devey..''Im in the haulage game, i can transport as many cakes as you can bake so i can see the an avenue where i can get a return for my investment. I'm considering making you an offer but i would like to know a little bit more about the people behind the scenes at the club...who do you envisage taking charge of media communications?

Iain Murray..''Barry Anderson''

Hilary Devey.. ''Im out''

Peter Jones.. ''Im out''

Duncan Bannatyne.. ''Im out''

Theo Paphitis..''Im out''

Deborah Meadon.. ''Im out''

Iain Murray..'' 5-1, 1902, forever in our shadow, big team, 40 thousand seater stadium, the hobos died on 19th may ect ect''

Producer..''Turn the lights out when you leave, Iain''

:top marks

[Springbank]

I'll give you £70 for 62% of your business mr murray

[God Petrie]

Looks like Romanov was half-right in the end.

"It is inevitable that Hearts will reach the level of Celtic and Rangers." - Vladimir Romanov, November 2004

[21.05.2016]

:faf:

They're only doing it because there's no match thread for 7-0. I like watching them scraping around looking for anything to cling to, anything at all.

"Maybe past players can chip in?"
"JK Rowling is going to buy us"
"Are we due any money from player sales?"
"Can Wonga not help us out"

Let them have 5-1, they can keep it. It has no value. It cannot be sold nor milked for cash. For them it is symbolic of beating their fiercest rivals.

For us it symbolises all that is wrong with Hearts. It reminds us of how they allowed their club to be gutted and battered into submission. How the money spent would come back to haunt them in their dying days and how each and every Hearts fan stood back and let it happen and in most cases, encouraged it. Hearts fans claim 5-1 "killed us" It appears to me that the opposite is true. Hearts haven't beaten us since that day and it's unlikely they'll get a chance to any time soon.

Big Team?

Wee Team?

ONLY TEAM!

:fenlon

Exactly, beyond cringeworthy and pathetic that even when their club is in total turmoil and even facing the very real possibility of going to the wall all they care about is having digs at hibs and giving it "oh but but 5-1" "1902".

5-1 killed us aye? hahahahahahahahahaha oh ma sides! ma sides! :faf::faf::faf:

The only team dying because of 5-1 is you lot ya dirty, cheating horrible scabby little club!

[21.05.2016]

The 5-1 comfort blanket is a popular item over on keekback :faf::faf::faf:


Aye keeping behind it like a frightened bairn, 5-1 ain't gonna save you haha!

[Sanger]

In the US they had Fanny Mac and Lehman Bros. Hearts on the otherhand are just phannies ;)
Freddie Mac & Fanny Mae. HMFC more Madoff with the victims being the Lithuanian & UK taxpayers and of course the rest of Scottish football.

[Part/Time Supporter]

Freddie Mac & Fanny Mae. HMFC more Madoff with the victims being the Lithuanian & UK taxpayers and of course the rest of Scottish football.

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

Made-off and Roamin-off.

[Dr What If?]

The best part is trying to explain to them how that game didn't get close to killing us, they are convinced we are all in denial.

I've heard this 'killed us' quote a number of times now, clearly deluded (surprised though?). In all honesty, they gave us a severe kick-in that day, they sent us to A&E and left scars, far from fatal though. They didn't do it alone however, and they couldn't have done it without giving everything they were to some very suspicious characters from a far away land. These 'friends' have turned and now they are the ones staring into oblivion. No club has every died from one result (no matter how bad), borrowing millions from crooks, not paying bills and trying to ****** the taxman however......If they want to know what a dead club looks like just keep watching Tynecastle, wont take long now.

[Gus Fring]

If they really believed they did "kill us" last May, that must mean the "best crop of youngsters in scotland" got beat 2-1 by a team of ghosts?

[mutley]

I've heard this 'killed us' quote a number of times now, clearly deluded (surprised though?). In all honesty, they gave us a severe kick-in that day, they sent us to A&E and left scars, far from fatal though. They didn't do it alone however, and they couldn't have done it without giving everything they were to some very suspicious characters from a far away land. These 'friends' have turned and now they are the ones staring into oblivion. No club has every died from one result (no matter how bad), borrowing millions from crooks, not paying bills and trying to ****** the taxman however......If they want to know what a dead club looks like just keep watching Tynecastle, wont take long now.

I like to think of it similar to being stung by a bee, the bee stings you in self defence but it doesn't kill you, it end up killing itself. 19th May last year, we were stung by the bee that is now dying

[Hibs07p]

They maybe put us down in round 1, but couldn't deliver the knock-out blow. We've pulled ourselves up, and in round 2 matched them blow for blow after giving them an easy early hit, we SPARKED back into life to draw the round. Round 3 was clearly won by us with a Witherspoonesque uppercut. Rounds 4 & 5 were uneventful bore draws, and round 6, the fight should've been stopped early doors after the battering we gave them. They hit us with a sucker punch half way through the round, before we SPARKED into life once more with a delightful blow from the right that evaded their defence. As the round drew to a close, we went for the knock-out blow, we knocked them onto the canvas with a clever right hook, to clearly win the round, and the belief was back. There might never be a round 7 as we are currently waiting on a health check to our opponents before engaging once more, but one thing is for sure, we're looking forward to the next derby more than they are.

GGTTH

[telfordhibby]

Andy Murray doated his winnings from Queens today to.....













The Royal Marsden Hospital....HIBS CLASS....

[Gus Fring]

Andy Murray doated his winnings from Queens today to The Royal Marsden Hospital....HIBS CLASS....

:agree: Sadly his best mate was diagnosed with Cancer in December, he organised an exhibition match for after his final today as well

Speaking of charity donations, did those over at Kickback that said they would donate money to an autism charity after Pat nevin gave the 5-1 ever do so?

[Swedish hibee]

Unbelievable, and this is the opinion of many hearts fans I speak to. Given the chance to go back in time, They wouldn't change anything so here's my opinion,, Hearts can be left to drown in their own pish. We have been trying to tell them for years that this was only ever going to end 1 way but they couldn't here us as they were playing there Champions League music too loud and singing about there love for Vladimir Romanov.

Absolute belters, all of them.

:top marks

[#FromTheCapital]

Speaking of charity donations, did those over at Kickback that said they would donate money to an autism charity after Pat nevin gave the 5-1 ever do so?

To be fair I think they did. Seem to remember Pat tweeting saying how much had been raised, so fair play to those that donated.

[Gus Fring]

To be fair I think they did. Seem to remember Pat tweeting saying how much had been raised, so fair play to those that donated.

Good to hear. :thumbsup:

[Dashing Bob S]

I blame us. Sometimes I feel we could have done more to warn them.

[kdhibees1]

http://img6.imageshack.us/edit_preview.php?l=img6/9238/anzr.jpg&action=rotate

[Northernhibee]

I blame us. Sometimes I feel we could have done more to warn them.

Rubbish, not seen how much .net has pledged?

If you're feeling guilty it's not too late to pledge yourself :greengrin

[Dashing Bob S]

Rubbish, not seen how much .net has pledged?

If you're feeling guilty it's not too late to pledge yourself :greengrin


I pledge to enjoy reading about Hearts off-field escapades during this close season.

[Leishy1995]

Any advances, trying to keep the old man updated

[Treadstone]

I pledge to enjoy reading about Hearts off-field escapades during this close season.

Close season is the gap between a season and the next one. What's it called when the gap runs infinite ?

[matty_f]

Close season is the gap between a season and the next one. What's it called when the gap runs infinite ?

Party time.

[Northernhibee]

Close season is the gap between a season and the next one. What's it called when the gap runs infinite ?

Yamageddon

[Fat Penlon]

Would admin even work for them? Even if an administrator sacked all the players and staff there would still be bills to pay but no money and as there are no games anytime soon there won't be any income either so how would it work?? Straight to liquidation and div 3?

[linlithgowhibbie]

Would admin even work for them? Even if an administrator sacked all the players and staff there would still be bills to pay but no money and as there are no games anytime soon there won't be any income either so how would it work?? Straight to liquidation and div 3?

Straight to Liquidation and APPLY for division 3 ?:thumbsup:

[Sanger]

http://www.heraldscotland.com/mobile/sport/opinion/foundations-worthy-attempts-uncover-ugly-financial-reality-for-hearts-fanbase.21345437?_=faa3138cc8e1a4bd981259b65b57d29 fac84ea1d

[Col2]

Does a scenario exist where they lose previous cup wins? Eg a newco means they can't claim it as part of history?

[PapillonVert]

Close season is the gap between a season and the next one. What's it called when the gap runs infinite ?

Event horizon.

From Wiki:

"In general relativity, an event horizon is a boundary in spacetime beyond which events cannot affect an outside observer. In layman's terms, it is defined as "the point of no return" i.e. the point at which the gravitational pull becomes so great as to make escape impossible. The most common case of an event horizon is that surrounding a black hole. Light emitted from beyond the horizon can never reach the outside observer. Likewise, any object approaching the horizon from the observer's side appears to slow down and never quite pass through the horizon, with its image becoming more and more redshifted as time elapses. The traveling object, however, experiences no strange effects and does, in fact, pass through the horizon in a finite amount of proper time."

[Part/Time Supporter]

Does a scenario exist where they lose previous cup wins? Eg a newco means they can't claim it as part of history?

If control of the SFA membership currently held by Hearts was lost, aye. That's the main basis for Rangers claiming a continuity of history. For example Airdrie United has a different SFA membership from that previously held by Airdrieonians. Even though Airdrie United has now renamed itself Airdrieonians, they can't (and don't) claim old Airdrieonians honours as their own. All they do on their own website is recount a general history of football in Airdrie.

http://airdriefc.com/history.html

If a newco secured the SFA membership then the MSM would recognise them as the same club, using the Rangers / Sevco precedent. Obviously you would get folk arguing against that, but it wouldn't gain any traction officially. I have to say at this point I would be very surprised if the SFA membership was lost, even if their company was liquidated and Tynecastle lost. The SFA membership would be one of the few other valuable assets held by the company and would be worthwhile for FOH (or whoever) to secure.

[1two]

Does a scenario exist where they lose previous cup wins? Eg a newco means they can't claim it as part of history?

Yes, if they're a newco then they're a new club and its therefore previous successes are not part of their history. Their history begins from when the newco was formed. Although like the rangers they'll probably claim otherwise.

[Ozyhibby]

Does a scenario exist where they lose previous cup wins? Eg a newco means they can't claim it as part of history?

A scenario exists where they lose everything and have no club at all.
Most likely they will start a new club at a lower level.

[The Leith Dutch]

Yes, if they're a newco then they're a new club and its therefore previous successes are not part of their history. Their history begins from when the newco was formed. Although like the rangers they'll probably claim otherwise.

I reckon it's kind of a moot point - if they wind up a newco then unlike big Sevco I reckon they're finished.

A newco in D3 won't get the stadium on the cheap and wouldn't be able to finance running it anyway.

It's one thing for wee Sally's manky mob with 40,000 zombie huns paying through the turnstyles (and even with the money and attracting decent players it wasn't the walk on the park predicted).

The Yams would have no ground, at best slightly better players and their attendances would crash through the floor.

If they can't be bothered saving the club they currently have I can't imagine them turning out to watch a wee sevco in maroon playing at a rented stadium in Livi and getting pumped by D3 teams.

[Treadstone]

Does a scenario exist where they lose previous cup wins? Eg a newco means they can't claim it as part of history?

Here is a wee guide to help:

Anything bad to happen- "We are a Newco"
Anything good - "We are Oldco"

[EH6 Hibby]

If control of the SFA membership currently held by Hearts was lost, aye. That's the main basis for Rangers claiming a continuity of history. For example Airdrie United has a different SFA membership from that previously held by Airdrieonians. Even though Airdrie United has now renamed itself Airdrieonians, they can't (and don't) claim old Airdrieonians honours as their own. All they do on their own website is recount a general history of football in Airdrie.

http://airdriefc.com/history.html

If a newco secured the SFA membership then the MSM would recognise them as the same club, using the Rangers / Sevco precedent. Obviously you would get folk arguing against that, but it wouldn't gain any traction officially. I have to say at this point I would be very surprised if the SFA membership was lost, even if their company was liquidated and Tynecastle lost. The SFA membership would be one of the few other valuable assets held by the company and would be worthwhile for FOH (or whoever) to secure.

Would they still be able to transfer the sfa membership if they don't have a newco set up in time? Rangers only just managed it last year and their situation was much more clear cut and they were weeks ahead of Hearts at this stage, so I would be amazed if Hearts manage to get a newco up and running in 6 weeks or so.

[Springbank]

"blood money shows on a maroon jersey"

Thats the definition of 5-1

[The Leith Dutch]

Here is a wee guide to help:

Anything bad to happen- "We are a Newco"
Anything good - "We are Oldco"

Not sure I remember this right but didn't big Sevco claim to be a newco as far as paying (or rather not paying) the remainder of the Jelavic transfer money to Rapid Vienna while also claiming to be oldco for the purposes of receiving money Everton were due them for the same player?

[Platinum Scotty]

comment from JJ in the ****** today......made me smile, it was about Gary "i love a golden shower" locke...

Since then, the 37-year-old has embarked on a venture only slightly less difficult than trying to push water uphill.

Last week, it tipped all over him

:greengrin

[Craig_in_Prague]

big dorothy and his advice (lol, he can talk)

http://www.scotsman.com/sport/football/top-football-stories/hearts-mcpherson-advice-to-supporters-over-cash-1-2968928


why is it everyone thinks Admin = come out debt free all nice and happy with new owners?

Is it really the case this is a likely outcome? Although it seems possible, I still personally feel they will be liquadated and I am not sure they will even be ready for D3 as others said. No Hearts in 2013/2014 looks more possible to me, than them playing in the SPL and being debt free?

[CropleyWasGod]

big dorothy and his advice (lol, he can talk)

http://www.scotsman.com/sport/football/top-football-stories/hearts-mcpherson-advice-to-supporters-over-cash-1-2968928


why is it everyone thinks Admin = come out debt free all nice and happy with new owners?

Is it really the case this is a likely outcome? Although it seems possible, I still personally feel they will be liquadated and I am not sure they will even be ready for D3 as others said. No Hearts in 2013/2014 looks more possible to me, than them playing in the SPL and being debt free?

For McPherson, read Dodds.

[s.a.m]

big dorothy and his advice (lol, he can talk)

http://www.scotsman.com/sport/football/top-football-stories/hearts-mcpherson-advice-to-supporters-over-cash-1-2968928


why is it everyone thinks Admin = come out debt free all nice and happy with new owners?

Is it really the case this is a likely outcome? Although it seems possible, I still personally feel they will be liquadated and I am not sure they will even be ready for D3 as others said. No Hearts in 2013/2014 looks more possible to me, than them playing in the SPL and being debt free?

To be fair to the donkey fella, he's possibly the first person (other than us, obviously) to come out and tell the fans that they need to stop chucking their money at a ruinous regime. While I agree with you that the future looks a tad less rosy than DMcP and other Jambos seems to think it will be in a post admin world, they could have done with this advice during the season, when they may have been more likely to come out of administration with a future in professional football.

[Part/Time Supporter]

big dorothy and his advice (lol, he can talk)

http://www.scotsman.com/sport/football/top-football-stories/hearts-mcpherson-advice-to-supporters-over-cash-1-2968928


why is it everyone thinks Admin = come out debt free all nice and happy with new owners?

Is it really the case this is a likely outcome? Although it seems possible, I still personally feel they will be liquadated and I am not sure they will even be ready for D3 as others said. No Hearts in 2013/2014 looks more possible to me, than them playing in the SPL and being debt free?

Everyone always hopes the best from their club, even if it is wildly unrealistic.

If you had asked Jambos just last week if administration was possible or even likely, they would have dismissed the idea, perhaps by suggesting that "the takeover will go through before anything bad happens".

[Craig_in_Prague]

To be fair to the donkey fella, he's possibly the first person (other than us, obviously) to come out and tell the fans that they need to stop chucking their money at a ruinous regime. While I agree with you that the future looks a tad less rosy than DMcP and other Jambos seems to think it will be in a post admin world, they could have done with this advice during the season, when they may have been more likely to come out of administration with a future in professional football.

He said this has been on the cards for a number of years - but IMO the fans have lapped up every second under this regime & during that time have turned into the most horrible support ever, to the point that I don't even keep in touch with many yams (who were much more bearable pre Romanov. Could even socalise with them post a derby). They get all they deserve and I hope it's a LOT worse than they are anticipating.

Just don't see the point in everyone coming out now and speaking.

[lord bunberry]

What financial disaster will beset our gorgie chums today, I'm going for a winding up petition.

[Craig_in_Prague]

any news on UBIG ?

[s.a.m]

He said this has been on the cards for a number of years - but IMO the fans have lapped up every second under this regime & during that time have turned into the most horrible support ever, to the point that I don't even keep in touch with many yams (who were much more bearable pre Romanov. Could even socalise with them post a derby). They get all they deserve and I hope it's a LOT worse than they are anticipating.

Just don't see the point in everyone coming out now and speaking.

:agree:
Agree with both points - they deserve it, and people of a jambo persuasion should have been saying all of these things long ago.

[s.a.m]

[ QUOTE=lord bunberry;3644264]What financial disaster will beset our gorgie chums today, I'm going for a winding up petition.[/QUOTE]

There has been talk here and elsewhere of Tuesday, for a significant (negative) event. Can you wait 24 hours?:greengrin

[Sergey]

any news on UBIG ?

As of Thursday of last week, there was no insolvency filed in the Lithuanian courts (they have to do that for legal reasons). I'd imagine that this will happen in the next few days though as they've stated publicly that they're goosed.

[jgl07]

If control of the SFA membership currently held by Hearts was lost, aye. That's the main basis for Rangers claiming a continuity of history. For example Airdrie United has a different SFA membership from that previously held by Airdrieonians. Even though Airdrie United has now renamed itself Airdrieonians, they can't (and don't) claim old Airdrieonians honours as their own.

Possibly because they had bugger all to claim?

[ian cruise]

Does a scenario exist where they lose previous cup wins? Eg a newco means they can't claim it as part of history?

This raises an interst point! If the history is up for sale can we buy the Scottish cup win? They did in the first place.

[Craig_in_Prague]

As of Thursday of last week, there was no insolvency filed in the Lithuanian courts (they have to do that for legal reasons). I'd imagine that this will happen in the next few days though as they've stated publicly that they're goosed.

OK - looking forward to the 15 point penalty.
As much as they have more serious issues to deal with, this will still be a nice little kick in the groin to them (as they are so sure of themselves and they belong at the top of league and always above the hibees).

It seems a question of what actually will trigger their admin process? (though as I said earlier, I am not sure admin will a good thing for them, as they seem to think).

[lord bunberry]

[ QUOTE=lord bunberry;3644264]What financial disaster will beset our gorgie chums today, I'm going for a winding up petition.

There has been talk here and elsewhere of Tuesday, for a significant (negative) event. Can you wait 24 hours?:greengrin[/QUOTE]

I suppose so

[Matty_Jack04]

big dorothy and his advice (lol, he can talk)

http://www.scotsman.com/sport/football/top-football-stories/hearts-mcpherson-advice-to-supporters-over-cash-1-2968928


why is it everyone thinks Admin = come out debt free all nice and happy with new owners?

Is it really the case this is a likely outcome? Although it seems possible, I still personally feel they will be liquadated and I am not sure they will even be ready for D3 as others said. No Hearts in 2013/2014 looks more possible to me, than them playing in the SPL and being debt free?

Who pays the admin fees for when they eventually go in to the PBS? Surely if its the business that pays they won't be in long before they liquidate? Duff & duffer wracked up massive fees with the zombies and I'm sure the admin at Motherwell (maybe Gretna) cost in the region of £250,000
could the recent announcement of a fire sale be to get rid of anyone worth something for the liths to get a final lining of there pockets before the whole things wound up or will any player sales have to stay in the club for the administrators going in?

[Part/Time Supporter]

Possibly because they had bugger all to claim?

A bit harsh IMO. Airdrie were one of the more successful town clubs, particularly in the 10 years or so before they went out of business.

[Part/Time Supporter]

Who pays the admin fees for when they eventually go in to the PBS? Surely if its the business that pays they won't be in long before they liquidate? Duff & duffer wracked up massive fees with the zombies and I'm sure the admin at Motherwell (maybe Gretna) cost in the region of £250,000
could the recent announcement of a fire sale be to get rid of anyone worth something for the liths to get a final lining of there pockets before the whole things wound up or will any player sales have to stay in the club for the administrators going in?

The buyer. The admin fees aren't an issue, the lack of cash in the business is.

The suggested "fire sale" is a desperate attempt to keep the company afloat. It's also kind of a threat to the fans that if they don't bail them out they will flog off "the best young talent in Britain" for buttons.

[Matty_Jack04]

As of Thursday of last week, there was no insolvency filed in the Lithuanian courts (they have to do that for legal reasons). I'd imagine that this will happen in the next few days though as they've stated publicly that they're goosed.

Is there a set period of how long UBIG'S assets are frozen for or are they frozen indefinitely until there application for insolvency is sorted out?

Few yams down this way seem to think there will be a bid made from a consortium this week whilst FOH are waiting until July 4th (don't know the reason for that specific date) I don't see how any bids can be made whilst the assets are frozen or why anyone would make a bid now rather than waiting on a lower price pre administration, but I'm no financial genius

[Ozyhibby]

A bit harsh IMO. Airdrie were one of the more successful town clubs, particularly in the 10 years or so before they went out of business.

Funny how a club going out of business is usually preceded by period of on field success.

[Matty_Jack04]

The buyer. The admin fees aren't an issue, the lack of cash in the business is.

The suggested "fire sale" is a desperate attempt to keep the company afloat. It's also kind of a threat to the fans that if they don't bail them out they will flog off "the best young talent in Britain" for buttons.

Thanks for that, I was wondering this because of the lack of cash in the business as they've already used up all revenue I thought there was a chance they'd go into admin and be quickly shut down so the admin company don't work for nothing

[Part/Time Supporter]

Funny how a club going out of business is usually preceded by period of on field success.

Airdrie's demise was more to do with the planning hell that their new stadium went through. They sold up Broomfield for a few million to a supermarket to fund a new stadium, as St Johnstone had done successfully a few years before.

Problem was their new stadium then went through a ping-pong between regional council and district council and was ultimately rejected. They burned through most of the cash while they were forced to share at Broadwood (rent costs + attendances went down). By the time a new stadium was finally approved and then built they were already toiling.

[clerriehibs]

To be fair to the donkey fella, he's possibly the first person (other than us, obviously) to come out and tell the fans that they need to stop chucking their money at a ruinous regime. While I agree with you that the future looks a tad less rosy than DMcP and other Jambos seems to think it will be in a post admin world, they could have done with this advice during the season, when they may have been more likely to come out of administration with a future in professional football.

c. 50% of us are quite happy for them to waste their money on the yams. All the less available when and if something tries to resurrect from the carcass.

[Sergey]

Is there a set period of how long UBIG'S assets are frozen for or are they frozen indefinitely until there application for insolvency is sorted out?

Few yams down this way seem to think there will be a bid made from a consortium this week whilst FOH are waiting until July 4th (don't know the reason for that specific date) I don't see how any bids can be made whilst the assets are frozen or why anyone would make a bid now rather than waiting on a lower price pre administration, but I'm no financial genius

The UBIG insolvency is completely separate from Ukio. As I understand it, the Lithuanian Service of Financial Crimes are taking on the case (hence the warrant for Vlad) and this debt isn't simply going to be written off. The LSoFC have already charged a number of former Ukio employees with embezzlement (one of them is Ugianskis, former board chairman) and many others will follow, both from Ukio and UBIG.

These are serious charges and serious amounts of money are involved. Hearts are in this up to their neck, too and it won't be too long until Fedotovas gets a knock on the door.

[s.a.m]

c. 50% of us are quite happy for them to waste their money on the yams. All the less available when and if something tries to resurrect from the carcass.

Aye....there is that. I was having a go at empathy there. Bored with that already.:greengrin

[Hibs90]

So are they bust yet? :confused::greengrin

[Matty_Jack04]

The UBIG insolvency is completely separate from Ukio. As I understand it, the Lithuanian Service of Financial Crimes are taking on the case (hence the warrant for Vlad) and this debt isn't simply going to be written off. The LSoFC have already charged a number of former Ukio employees with embezzlement (one of them is Ugianskis, former board chairman) and many others will follow, both from Ukio and UBIG.

These are serious charges and serious amounts of money are involved. Hearts are in this up to their neck, too and it won't be too long until Fedotovas gets a knock on the door.

:aok: My previous hopes the Lithuanian authorities would be tough on this dwindled after the announcement of keeping hearts as a 'going concern' when ukio lost there appeal last week..I've now got renewed hope

[HFC 0-7]

:aok: My previous hopes the Lithuanian authorities would be tough on this dwindled after the announcement of keeping hearts as a 'going concern' when ukio lost there appeal last week..I've now got renewed hope

They can only be a going concern if they have enough dosh to pay their bills as they fall due, ukio would be quite happy for them to carry on paying the interest every month until the balance is due. If they then couldn't pay the balance they would sell Tynie. That way they would get quite a few months of interest payments on top of what they will get selling Tynie.

Problem is, they probably can't afford the interest payments so ukio's hand will be forced.

[Zondervan]

Even after reading this thread daily for months, I am still confused how HMFC as a separate entity will be treated.

So, if they (HMFC) as a separate entity go into admin, does that mean that all the legal wrangling in Lithuania AND the debt to UKIO/UBIG become irrelevant?

Or would the HMFC Administrator need to wait until the mess with UBIG is unravelled before they could sell on HMFC?

[Matty_Jack04]

Even after reading this thread daily for months, I am still confused how HMFC as a separate entity will be treated.

So, if they (HMFC) as a separate entity go into admin, does that mean that all the legal wrangling in Lithuania AND the debt to UKIO/UBIG become irrelevant?

Or would the HMFC Administrator need to wait until the mess with UBIG is unravelled before they could sell on HMFC?

This is what I've been trying to get at...you done a better job with the questions

[Treadstone]

:aok: My previous hopes the Lithuanian authorities would be tough on this dwindled after the announcement of keeping hearts as a 'going concern' when ukio lost there appeal last week..I've now got renewed hope

Administrator didn't have to say "Swynecastle is up for sale GIRUY!" so he didn't. The EEN headline was laughable "Ukio Bankas administrators vow to sell Hearts on" . Actual story (http://www.scotsman.com/edinburgh-evening-news/latest-news/ukio-bankas-administrators-vow-to-sell-hearts-on-1-2963439) says nothing of the sort. He has to do whats best for Lithuainian tax payer and not HoMFC. :aok:

[Glesgahibby]

The UBIG insolvency is completely separate from Ukio. As I understand it, the Lithuanian Service of Financial Crimes are taking on the case (hence the warrant for Vlad) and this debt isn't simply going to be written off. The LSoFC have already charged a number of former Ukio employees with embezzlement (one of them is Ugianskis, former board chairman) and many others will follow, both from Ukio and UBIG.

These are serious charges and serious amounts of money are involved. Hearts are in this up to their neck, too and it won't be too long until Fedotovas gets a knock on the door.
:aok:

[Jack]

:aok: My previous hopes the Lithuanian authorities would be tough on this dwindled after the announcement of keeping hearts as a 'going concern' when ukio lost there appeal last week..I've now got renewed hope

In all fairness to the Lith authorities I wouldn’t expect them to say publically they are going do all they can to extract every last penny and destroy hearts.

I suspect privately they are doing all they can to extract every last penny and if hearts are destroyed then so be it.

[GloryGlory]

Funny how a club going out of business is usually preceded by period of on field success.

Aye, funny that. Of course, nowt to do with spending unsustainable amounts of cash to buy success. :wink:

[greenginger]

http://translate.googleusercontent.com/translate_c?depth=1&hl=en&prev=/search%3Fq%3Dukio%2Bbankas%2B15min%26client%3Dfire fox-a%26hs%3DaBY%26rls%3Dorg.mozilla:en-US:official%26biw%3D1202%26bih%3D667&rurl=translate.google.co.uk&sl=lt&u=http://www.15min.lt/naujiena/verslas/bendroves/bankroto-administratorius-gintaras-adomonis-ukio-banko-turto-realizavimas-lietuvoje-gali-uztrukti-iki-dveju-metu-663-345498&usg=ALkJrhj1vvAray6-txVQdrPU3D48LPDW2g

According to this asset sale will take a minimum of 2 years and that is without any legal challenges to the process.

The Yams could be in Limbo for years........... Dead Club Walking ! :greengrin

[bingo70]

http://translate.googleusercontent.com/translate_c?depth=1&hl=en&prev=/search%3Fq%3Dukio%2Bbankas%2B15min%26client%3Dfire fox-a%26hs%3DaBY%26rls%3Dorg.mozilla:en-US:official%26biw%3D1202%26bih%3D667&rurl=translate.google.co.uk&sl=lt&u=http://www.15min.lt/naujiena/verslas/bendroves/bankroto-administratorius-gintaras-adomonis-ukio-banko-turto-realizavimas-lietuvoje-gali-uztrukti-iki-dveju-metu-663-345498&usg=ALkJrhj1vvAray6-txVQdrPU3D48LPDW2g

According to this asset sale will take a minimum of 2 years and that is without any legal challenges to the process.

The Yams could be in Limbo for years........... Dead Club Walking ! :greengrin

They would just form a new company would they not, AFC Hearts or something like that and start again?

[Gus Fring]

Even after reading this thread daily for months, I am still confused how HMFC as a separate entity will be treated.

So, if they (HMFC) as a separate entity go into admin, does that mean that all the legal wrangling in Lithuania AND the debt to UKIO/UBIG become irrelevant?

Or would the HMFC Administrator need to wait until the mess with UBIG is unravelled before they could sell on HMFC?

Administration would provide Hearts a degree of temporary protection but the lith stuff wouldn't become irrelevant. The debt would still exist as would the security over Tynecastle.

Hearts are still considered a UBIG asset and they are still frozen just now. The lithuanian government would need to authorise any sale of HMFC and I maintain thats unlikely whilst the investigation is still ongoing. For all we, and they, know Hearts could end up being a major part in that investigation so letting it slip away in an effort to appease a few thousand people in another country is unlikely, IMO

[--------]

Can I please have my OWN avatar back on this thread? PLEASE???????????????????

[greenginger]

They would just form a new company would they not, AFC Hearts or something like that and start again?

Without the Badge, the HOMFC name and the PBS. to play at, I don't think even the thickest of Yams would still claim to be supporting the same Club.

[StevieC]

Even after reading this thread daily for months, I am still confused how HMFC as a separate entity will be treated.

So, if they (HMFC) as a separate entity go into admin, does that mean that all the legal wrangling in Lithuania AND the debt to UKIO/UBIG become irrelevant?

Or would the HMFC Administrator need to wait until the mess with UBIG is unravelled before they could sell on HMFC?

My understanding is that most of the debt to UKIO/UBIG is secured against Tynecastle. This therefore means that should HoMFC go into administration the majority of the Lithuanian debts are taken out of the equation and its just the debt that is left that can be shed through a CVA.

Am I correct in thinking that if they manage to come out of administration they will still have the UKIO debt and at the very least the interest charges that go with it?

The other alternative would be liquidation which could result in them losing Tynecastle (or at least having to match an independent bid from builder/supermarket)?

[Treadstone]

In the Belarusian third division.

http://belarusdigest.com/story/reviving-partisan-solidarity-minsk-football-fans-14359


In 2007, ŪBIG signed the investment agreement with the Minsk City Council. According to the agreement to implement the project the joint-stock company “Stadium” was established. At that time, Romanov had a great relationship with the Belarusian authorities, and became one of the initiators of Alexander Lukashenka’s visit to Lithuania in 2009. For his part, Alexander Lukashenka advised the Lithuanian business elite to contact Romanov in case they wanted to do business in Belarus.

Nevertheless in the beginning of 2010s, Romanov “lost the confidence” of the higher authorities and the Minsk City Council broke its investment agreement with the Lithuanian millionaire. Most likely, the main reason of the conflict was the fact that instead of the reconstruction of the Traktar Stadium, the JSC “Stadium” started to build apartment houses in Minsk's suburbs. When the Belarusian authorities stopped supporting Romanov’s business, he announced the cessation of the FC MTZ-Ripo’s sponsorship.

[Sanger]

The UBIG insolvency is completely separate from Ukio. As I understand it, the Lithuanian Service of Financial Crimes are taking on the case (hence the warrant for Vlad) and this debt isn't simply going to be written off. The LSoFC have already charged a number of former Ukio employees with embezzlement (one of them is Ugianskis, former board chairman) and many others will follow, both from Ukio and UBIG.

These are serious charges and serious amounts of money are involved. Hearts are in this up to their neck, too and it won't be too long until Fedotovas gets a knock on the door.

UB and UBIG are tied together - UBIG obtained its loans from UB fro all their investment projects. UBIG is UB's biggest debtor. Insolvency of UBIG will follow on from the UB adminsitration process now that is has officially started although a lot of the groundwork has already been carried out.

[greengnome]

http://i1129.photobucket.com/albums/m510/thejadescarab/bth_LookingUplink.jpg



Having read the in depth posts on "you know where".... Quite a few of the posters are a bit like this fella pictured.

[Sergey]

UB and UBIG are tied together - UBIG obtained its loans from UB fro all their investment projects. UBIG is UB's biggest debtor. Insolvency of UBIG will follow on from the UB adminsitration process now that is has officially started although a lot of the groundwork has already been carried out.

They are and they aren't tied together (but obviously are interlinked).

The Ukio administration is currently being carried out by UAB Valnetas. It will be the Kaunas Municipality that will ultimately pass insolvency on UBIG, not UAB Valnetas.

As I mentioned earlier, both organisations (Ukio/UBIG) are under investigation by the Lithuanian Financial Crime folks and all parties will be working together. What part UAB Valnetas play in UBIG isn't really known at this point, but they will be advising the authorities of the money trail.

[bingo70]

They are and they aren't tied together (but obviously are interlinked).

The Ukio administration is currently being carried out by UAB Valnetas. It will be the Kaunas Municipality that will ultimately pass insolvency on UBIG, not UAB Valnetas.

As I mentioned earlier, both organisations (Ukio/UBIG) are under investigation by the Lithuanian Financial Crime folks and all parties will be working together. What part UAB Valnetas play in UBIG isn't really known at this point, but they will be advising the authorities of the money trail.

You've mentioned before how corruption is rife in Lithuania, is the most likely outcome not going to be a few backhanders given out to make this all go away, a bit like what's being accused with Duff & Phelps?

Hoping that's not a possible way out of this for hearts too, a wee brown envelope in the right direction to make there debt go away and get a favorable price for tynecastle

[Treadstone]

Barry Anderson ‏@BarryAnderson_8 (https://twitter.com/BarryAnderson_8)29m (https://twitter.com/BarryAnderson_8/status/346580888114569216)
#Hearts (https://twitter.com/search?q=%23Hearts&src=hash) admit this week is critical as they try to raise cash. Match tickets to go on sale as soon as fixtures released on Wed. See EN #HMFC (https://twitter.com/search?q=%23HMFC&src=hash)

I am loving this.:greengrin
http://www.scotsman.com/edinburgh-evening-news/football/top-stories/hearts-set-to-sell-single-tickets-in-new-cash-bid-1-2969131


Hearts spokesperson told the Evening News: “This week is paramount to the club’s future. The big difference this week is that, suddenly, one of the most important revenue streams for the club could be opened up when the new fixtures (http://www.scotsman.com/edinburgh-evening-news/football/top-stories/hearts-set-to-sell-single-tickets-in-new-cash-bid-1-2969131#) are announced. It is a critical period. We hope to have tickets on sale within 48 hours of the fixtures being released, which is going to be a vital lifeline for the club.”]

[Gus Fring]

Just seen this

Jamie Ryan @ChunkyGeek
(http://twitter.com/ChunkyGeek)Aw, @BarryAnderson_8 (http://twitter.com/BarryAnderson_8) has blocked me. Clearly he's not a fan of the truth. I'm claiming that as a small victory.


What a bottle merchant Barry is. Here was a guy who was spot on with what he was saying every time and Barry has blocked him. Clearly he can't handle it.

[Sergey]

You've mentioned before how corruption is rife in Lithuania, is the most likely outcome not going to be a few backhanders given out to make this all go away, a bit like what's being accused with Duff & Phelps?

Hoping that's not a possible way out of this for hearts too, a wee brown envelope in the right direction to make there debt go away and get a favorable price for tynecastle

I don't see it, Bingo.

The current LT government has financial fair-play pretty high on their agenda and they really went to town with the previous incumbents mismanagement with the collapse of Bankas Snoras. The Uhio & UBIG cases be done strictly by the book as the LT government have more to lose than win if they start any financial jiggery-pokery.

[JeMeSouviens]

Barry Anderson ‏@BarryAnderson_8 (https://twitter.com/BarryAnderson_8)29m (https://twitter.com/BarryAnderson_8/status/346580888114569216)
#Hearts (https://twitter.com/search?q=%23Hearts&src=hash) admit this week is critical as they try to raise cash. Match tickets to go on sale as soon as fixtures released on Wed. See EN #HMFC (https://twitter.com/search?q=%23HMFC&src=hash)

I am loving this.:greengrin
http://www.scotsman.com/edinburgh-evening-news/football/top-stories/hearts-set-to-sell-single-tickets-in-new-cash-bid-1-2969131




What's the betting the first 2 fixtures at Tiny will be us and Celtc? :rolleyes:

[JeMeSouviens]

You've mentioned before how corruption is rife in Lithuania, is the most likely outcome not going to be a few backhanders given out to make this all go away, a bit like what's being accused with Duff & Phelps?

Hoping that's not a possible way out of this for hearts too, a wee brown envelope in the right direction to make there debt go away and get a favorable price for tynecastle

For reasons I don't even pretend to understand, Lithuania is very keen on joining the Eurozone. They have been concerned about the impact of the collapse of Snoras and Ukio, so have the incentive to be squeaky clean.

[malcky]

What's the betting the first 2 fixtures at Tiny will be us and Celtc? :rolleyes:

Doubt it would matter as I imagine only hearts fans would buy tickets for a game which might not go ahead

[bingo70]

What's the betting the first 2 fixtures at Tiny will be us and Celtc? :rolleyes:

Hope so as Celtic would take about 10 off the current hearts side and if they lose a couple of players you could probably double that and it'd be great if we got to give them one more pumping to send them on their way into oblivion.

[Spike Mandela]

What's the betting the first 2 fixtures at Tiny will be us and Celtc? :rolleyes:

:agree: 100% Guaranteed.

[jacomo]

Barry Anderson ‏@BarryAnderson_8 (https://twitter.com/BarryAnderson_8)29m (https://twitter.com/BarryAnderson_8/status/346580888114569216)
#Hearts (https://twitter.com/search?q=%23Hearts&src=hash) admit this week is critical as they try to raise cash. Match tickets to go on sale as soon as fixtures released on Wed. See EN #HMFC (https://twitter.com/search?q=%23HMFC&src=hash)

I am loving this.:greengrin
http://www.scotsman.com/edinburgh-evening-news/football/top-stories/hearts-set-to-sell-single-tickets-in-new-cash-bid-1-2969131




Desperate times, and all that. For a certain section of the serially-abused Yam support, this idea might appeal... But most of them will either be skint or have already bought a season ticket.

I think this is the last throw of the dice - if it doesn't work, I think it's over.

[Dashing Bob S]

:agree: 100% Guaranteed.

Would love this to be the case and for them to line up against us with half-a-dozen spotty youths and the rest admin workers plucked from the PBS offices and hastily registered with the SFA.

It would provide some sweet humiliation and stay the day of execution for another few weeks before they folded like a rickety deck chair in a hurricane.

Alas, I can't see them being in the SPL or any other league come August.

[CyberSauzee]

What's the betting the first 2 fixtures at Tiny will be us and Celtc? :rolleyes:

:agree: either us or Celtic.

They're so thick though that what do they do when they've used up advance ticket sales months in advance? They were doing it for the last few months of last season, now they are doing it again. What happens in September/October when they've got next to no home games for a few weeks due to playing away/international weekends? They'll be back to where they are right now, needing cash injections. That's providing they make it that far. I sincerely hope they do though just so every team in the SPL can start to run up cricket scores against them. Who said flogging a dead horse was no fun?

[lord bunberry]

So it's the fans/mugs that will be bailing them out yet again. When will these idiots realise that they're being taken for a ride and stop giving them money.

[GloryGlory]

What's the betting the first 2 fixtures at Tiny will be us and Celtc? :rolleyes:

Hopefully, ra Sellik, as I do believe ra Sellik still have the dispensation to cancel an SPL game so that they can play a more important friendly game somewhere.

[Dashing Bob S]

Us or Celtic would be great for the reasons stated above.

But also ICT or Ross County would work for me for different reasons.

Or, on the other hand, how about NOBODY.

Does Nobody work for everyone?

[s.a.m]

Us or Celtic would be great for the reasons stated above.

But also ICT or Ross County would work for me for different reasons.

Or, on the other hand, how about NOBODY.

Does Nobody work for everyone?

Nobody works fine for me.:aok:

[neilmartinrocks]

hearts new mascot prepares for his debut next season.
10279

:flag::greengrin:flag: