Festive Cheer for the Yams: Xmas message, Kingston injured and more hoofball (merged)

[Seveno]

A Jambo who is a ST at the PBS sent me this. I thought it was a wind-up perpetrated by a Hibby at first but it is in fact an attempt to further fool the delusional.

I wanted to write to you about a number of things that I know you'll want updates on as we reach the end of 2009 and come up to the fifth anniversary of UBIG's majority shareholding in Heart of Midlothian Football Club.
That's why I am writing to you to share with you directly - not via the media - the latest news from Tynecastle.
I have given an interview to our media service Hearts News and I am pleased to include this below. My fellow directors and I do hope you find it useful.
Have a wonderful Christmas and a great New Year!

Sergejus Fedotovas
Director, Heart of Midlothian Football Club
World Exclusive: In safe hands
In an exclusive interview, director Sergejus Fedotovas reveals he is confident that Hearts is well positioned to manage the economic storm affecting Scottish football.
Sergejus spoke exclusively to Hearts News at Tynecastle and emphasised that Hearts is cushioned from the external financial pressures faced by other clubs.

The debt carried by many football clubs is headline news at present, how exposed is Hearts to its existing debt?
The key fact, that sets Hearts apart from many other clubs, is that our debt is in the form of funding from our own parent company Ukio Banko Investicine Grupe (UBIG). We are not exposed to the external debt levels of other highly geared businesses.
Our positive funding arrangement means that it is our own Group that finances Hearts and not external financial institutions. We therefore do not consider this as "real" debt - in simple terms, we owe the money to ourselves as Hearts is owned by UBIG. This positive funding arrangement provides security of funding for the club and, in turn, this allows us to both weather the current challenging economic conditions but, most importantly, develop the business for the future.
The club does not pay the interest on the debt, just accumulates it - it shows that the owners are not profiting from the club.
While UBIG is a well resourced and financed multi-national organisation our positive funding arrangement does not mean that we are ambivalent in our management of Hearts. The onus is to ensure Hearts is run efficiently and is maximising its revenue generating opportunities.
UBIG offered a 'funding-for-equity' deal previously to reduce the club's debt by £12m in July 2007, do you think this would be an option again in the future?
Yes. At present we are considering and assessing plans for a further funding-for-equity deal which is realistic.
Is UBIG still fully committed to Hearts?
It is 'fact' that UBIG is 100% behind the club and its future development plans. UBIG has been an essential backer and partner of Hearts since the outright purchase of the club in February 2005. In the five years we have been at the club and we have achieved some success and at some times were deprived of success, but at all times we remain committed to the club. If you look at the board of the club, closest representatives of the owner are there and it shows the level of importance and commitment.
Since we came in the financial situation has been solid. All payments are ok at the club. The players are paid for five years since we have bought the club and the bonuses are paid when the team deserves a bonus.
UBIG provides funding for the club along with a range of other resources such as business expertise, connections to other football organisations and business contacts. This is evidenced in our ongoing planning for the Tynecastle stadium redevelopment, our bank development and other projects and business opportunities in Edinburgh.
Hearts enjoys an excellent relationship with UBIG and as long as Hearts maintains a focus on operational efficiencies and progressing the club in business development terms then we can look forward to many more years of support from the organisation.
And what about Ukio Bankas, the club's bankers, how do you view that relationship in light of the pressures being faced by financial institutions?
Ukio Bankas maintains ambitious development plans and the bank remains profitable unlike most others in UK and elsewhere in Europe. Ukio Bankas is a very supportive partner of the club. For example, our banking relationship ensures that Hearts receives first class quality and timely service.
Does the economic climate prohibit Hearts from securing further investment funding for projects such as the stadium redevelopment?
We are working to deliver an investment solution that will allow us to generate a profit for the club from an enhanced stadium which provides the best spectator experience.
We continue to envisage a redeveloped stadium at Tynecastle which provides great benefits to the club and its supporters. External funding is not a necessary element of our future strategy but we remain open minded about partnership opportunities that will help develop the club. We are currently assessing certain investment options and we believe that we are making good progress in this area.
What can we expect from the forthcoming Annual Results?
We will be issuing our annual results in the early part of next year and they are in line with expectations. We expect to demonstrate significant savings in key operational areas.

[Peevemor]

Well I'm convinced.

[hibsbollah]

"we owe the money to ourselves"

I thought this was a made-up phrase we use to make fun of them, I never knew they actually take it seriously:faf:

[maturehibby]

you can kid some of the people some of the time etc

[Dan Sarf]

"Hearts enjoys an excellent relationship with UBIG and as long as Hearts maintains a focus on operational efficiencies and progressing the club in business development terms then we can look forward to many more years of support from the organisation."


There's their get-out clause, right there. :greengrin

[MoantheCabbage]

Ye couldnae make it up. oh ma sides

The club does not pay the interest on the debt, just accumulates it - it shows that the owners are not profiting from the club

[Part/Time Supporter]

A Jambo who is a ST at the PBS sent me this. I thought it was a wind-up perpetrated by a Hibby at first but it is in fact an attempt to further fool the delusional.

We therefore do not consider this as "real" debt - in simple terms, we owe the money to ourselves as Hearts is owned by UBIG.

The club does not pay the interest on the debt, just accumulates it - it shows that the owners are not profiting from the club.

Since we came in the financial situation has been solid. All payments are ok at the club. The players are paid for five years since we have bought the club and the bonuses are paid when the team deserves a bonus.


I've got to see a link to be convinced of that.

:greengrin

[Mon Dieu4]

The players are paid for five years since we have bought the club and the bonuses are paid when the team deserves a bonus.

:faf: This has to be a wind up

[angus hibee]

Think I'll just lend myself a few £k and have a whale of a christmas and new year as well as the Ferrari I've been promising myself, safe in the knowledge that it would be interest free and I need not pay it back.
Think my bank would let me away with it?

[Jack]

Well that's a relief. :faf:

I wonder if he went on to say he had £51m to invest in a Western country and if you give me all your personal and bank details I’ll make sure you get a seat in the new stand?

[Sergey]

[Hearts enjoys an excellent relationship with UBIG] and as long as Hearts maintains a focus on operational efficiencies and progressing the club in business development terms then we can look forward to many more years of support from the organisation.

That sounds like the get-out clause.

[Peevemor]

That sounds like the get-out clause.

The thing is, in that statement they speak of Hearts and UBIG as different entities. Does this mean that they don't in fact owe the money to themselves?


[Hearts enjoys an excellent relationship with UBIG] and as long as Hearts maintains a focus on operational efficiencies and progressing the club in business development terms then we can look forward to many more years of support from the organisation.
Are "the club" and "we" not the same people then?

It must be a translation thing. :dunno:

[Phil D. Rolls]

I'd just like to apologise to any Yams who feel they have been mocked. There is obviously no reason to have mocked them. I feel such a fool.:boo hoo:

Any chance one of our sleepers could paste the KB reaction? They must be laughing at us big style.

[whereswallace?]

I was just about to post the very same email a yam friend sent me!!

[hibbie02]

Altered just a wee bit....... :greengrin


A Jambo who is a ST at the PBS sent me this. I thought it was a wind-up perpetrated by a Hibby at first but it is in fact an attempt to further fool the delusional.

I wanted to write to you about a number of things that I know you'll want updates on as we reach the end of 2009 and come up to the fifth anniversary of UBIG's majority shareholding in Heart of Midlothian Football Club.
That's why I am writing to you to share with you directly - not via the media - the latest news from Tynecastle.
I have given an interview to our media service Hearts News and I am pleased to include this below. My fellow directors and I do hope you find it useful.
Have a wonderful Christmas and a great New Year!

Sergey HibbyBigTeamicus
Director, Heart of Midlothian Football Club
World Exclusive: In safe hands
In an exclusive interview, director Sergejus Fedotovas reveals he is confident that Hearts is well positioned to manage the economic storm affecting Scottish football. Aye we are already Donald Ducked, so it cannae get any worser.Sergey spoke exclusively to Hearts News at Tynecastle and emphasised that Hearts is cushioned from the external financial pressures faced by other clubs due to having nae money

The debt carried by many football clubs is headline news at present, how exposed is Hearts to its existing debt?
The key fact, that sets Hearts apart from many other clubs, is that our debt is in the form of potatoes from our own parent company Ukio Banko Investicine Grupe (UBIG). We are not exposed to the external debt levels of other highly geared businesses.
Our positive funding arrangement means that it is our own Group that finances Hearts and not external financial institutions. We therefore do not consider this as "real" debt - in simple terms, we owe the money to ourselves as Hearts is owned by UBIG. This positive funding arrangement provides security of funding for the club and, in turn, this allows us to both weather the current challenging economic conditions but, most importantly, develop the business for the future unless there is a tattie famine too.
The club does not pay the interest on the debt, just accumulates it - it shows that the owners are not profiting from the club. Similarly we don't pay the players or the Revenue (or anyone else)While UBIG is a well resourced and financed multi-national organisation our positive funding arrangement does not mean that we are ambivalent in our management of Hearts. The onus is to ensure Hearts is run into the ground and is maximising its revenue generating opportunities particularly in relation to the number of flats that can be build in Gorgie.UBIG offered a 'funding-for-equity' deal previously to reduce the club's debt by £12m in July 2007, do you think this would be an option again in the future?
Yes. At present we are considering and assessing plans for a further funding-for-equity deal which is realistic. We have to shift some of the tatties before Nade eats them all. So we might cash in on Nade and sell him on. Mr Romanov is quite insistent that he is sold by the kilogram and not valued by the goals scored.Is UBIG still fully committed to Hearts?
It is 'fact' that UBIG is 100% behind the club (laughing) and its future development plans. UBIG has been an essential backer and partner of Hearts since the outright purchase of the club in February 2005. In the five years we have been at the club and we have achieved some success and at most times were deprived of success, but at all times we remain committed to milking the club of any valuable asset. If you look at the board of the club, closest representatives of the owner are there (once a year) and it shows the level of importance and commitment to the basketball team back home.
Since we came in the financial situation has been solid like a week old turd. All payments are ok at the club. The players are paid every five years since we have bought the club and the bonuses are paid when the team deserves a bonus which isnae very often either.
UBIG provides funding for the club along with a range of other resources such as business expertise, fax connections to other football organisations and business contacts. This is evidenced in our ever ongoing planning for the Tynecastle "Cala Homes" stadium redevelopment, our bank development and other virtual projects and business opportunities in Edinburgh.
Hearts enjoys an excellent relationship with UBIG and as long as Hearts maintains a focus on hilarity and progressing the club in debt development terms then we can look forward to many more years of mocking from the organisation and the rest of the world.
And what about Ukio Bankas, the club's bankers, how do you view that relationship in light of the pressures being faced by financial institutions?
Ukio Bankas maintains ambitious development plans and the bank remains profitable unlike most others in UK and elsewhere in Europe. Ukio Bankas is a very supportive partner of the club. For example, our banking relationship ensures that Hearts receives first class quality and timely service. Cough, cough...sorry mate something has got stuck in my throat. Ah cannae keep this up for much longer, are we done yet?Does the economic climate prohibit Hearts from securing further investment funding for projects such as the stadium redevelopment?
We are working to deliver an investment solution that will allow us to generate a profit for the club from an enhanced housing scheme which provides the best jakey hostel experience.
We continue to envisage a redeveloped housing scheme at Tynecastle which provides great benefits to the club and its supporters. External funding is not a necessary element of our future strategy as the stadium has been sold but we remain open minded about partnership opportunities that will help develop Saughton Park. We are currently assessing certain investment options relating to Fridge/Freezers and Greenland we believe that we are making good progress in this area.
What can we expect from the forthcoming Annual Results?
We will be issuing our annual results in the early part of next year and they are in line with expectations. We expect laughing at a level likely to bring on a hernia. GGTTH

[Hainan Hibs]

We therefore do not consider this as "real" debt - in simple terms, we owe the money to ourselves as Hearts is owned by UBIG.


Well, this Hobo is convinced:agree:

Yams are on their way to world domination by re-writing the rules of debt.

[Part/Time Supporter]

Maybe Mr. Romanov's should do the alternative christmas message at 3pm on channel 4 on the big day?

:greengrin

http://en.wikipedia.org/wiki/Royal_Christmas_Message#Alternative_Christmas_mess age

[lapsedhibee]

They are "working to deliver an investment solution". Shirley Proctor & Gamble have already cracked liquid washing powder, so shouldn't troubled Hearts just buy that off the shelf for Operation PBS and the R&D effort can be directed elsewhere?

[down the slope]

This brings to mind the band playing on the titanic as they slid beneath the waves, why did they feel they had to issue this statement?.

[Part/Time Supporter]

Well, this Hobo is convinced:agree:

Yams are on their way to world domination by re-writing the rules of debt.



It worked for Fred Goodwin and Bernie Madoff, so I don't see any reasons why it won't work for Mr Romanov.

[Cropley10]

This is the part that gets me:

And what about Ukio Bankas, the club's bankers, how do you view that relationship in light of the pressures being faced by financial institutions?
Ukio Bankas maintains ambitious development plans and the bank remains profitable unlike most others in UK and elsewhere in Europe. Ukio Bankas is a very supportive partner of the club. For example, our banking relationship ensures that Hearts receives first class quality and timely service.

Now last time I checked all UK Bank's are back making a profit. Most of what they did and still do is highly profitable. Ukio is a tiny, little thing isn't it?

And to say that they receive a quality and timely service! Does that conveniently forget the problems with paying wages, never mind paying their various creditors.

Straight out of the Ministry of Truth if you ask me.

[matty_f]

all that was missing from the end of the piece was this:













:fibber:

[greenlex]

No comments from any Yams looking in then? :confused:

[Hank Schrader]

Very strange email for the owners/management of a football club to send its supporters. :confused:

[CB_NO3]

I dont have a clue about banking etc but surely if their debt is in their own bank then is it impossible for Hearts to go into administration?. Its just people on here seem to get excitied all the time about the club going into administration but surely the only people that can put them into administration is theirselves.

[Sergey]

Very strange email for the owners/management of a football club to send its supporters. :confused:

Very strange. Made even stranger by the sheer coincidence that Ukio Bankas only this afternoon announced a loan of 50,000,000 Lith Litas

£13M in real money (http://www.nasdaqomxbaltic.com/market/?pg=details&instrument=LT0000102352&list=2&tab=news&news_id=238463)

[Cabbage East]

Where do you start? :rolleyes:

[CropleyWasGod]

I dont have a clue about banking etc but surely if their debt is in their own bank then is it impossible for Hearts to go into administration?. Its just people on here seem to get excitied all the time about the club going into administration but surely the only people that can put them into administration is theirselves.

Not so, young fellow me lad.

Anyone can apply to the Court to have them put into Administration. For example, HMRC. Oh, wait, we all own HMRC too, so any money Hearts owe to them is owed to us.

Dammit, you may be right, young man :devil:

[sauzee1966]

This was emailed to a friend at work today...really says it all and some total classic quotes!!

Great Read



Dear Willaim,

I wanted to write to you about a number of things that I know you'll want updates on as we reach the end of 2009 and come up to the fifth anniversary of UBIG's majority shareholding in Heart of Midlothian Football Club.

That's why I am writing to you to share with you directly - not via the media - the latest news from Tynecastle.

I have given an interview to our media service Hearts News and I am pleased to include this below. My fellow directors and I do hope you find it useful.

Have a wonderful Christmas and a great New Year!

Sergejus Fedotovas
Director, Heart of Midlothian Football Club

World Exclusive: In safe hands

In an exclusive interview, director Sergejus Fedotovas reveals he is confident that Hearts is well positioned to manage the economic storm affecting Scottish football.

Sergejus spoke exclusively to Hearts News at Tynecastle and emphasised that Hearts is cushioned from the external financial pressures faced by other clubs.

The debt carried by many football clubs is headline news at present, how exposed is Hearts to its existing debt?

The key fact, that sets Hearts apart from many other clubs, is that our debt is in the form of funding from our own parent company Ukio Banko Investicine Grupe (UBIG). We are not exposed to the external debt levels of other highly geared businesses.

Our positive funding arrangement means that it is our own Group that finances Hearts and not external financial institutions. We therefore do not consider this as "real" debt - in simple terms, we owe the money to ourselves as Hearts is owned by UBIG. This positive funding arrangement provides security of funding for the club and, in turn, this allows us to both weather the current challenging economic conditions but, most importantly, develop the business for the future.

The club does not pay the interest on the debt, just accumulates it - it shows that the owners are not profiting from the club.

While UBIG is a well resourced and financed multi-national organisation our positive funding arrangement does not mean that we are ambivalent in our management of Hearts. The onus is to ensure Hearts is run efficiently and is maximising its revenue generating opportunities.

UBIG offered a 'funding-for-equity' deal previously to reduce the club's debt by £12m in July 2007, do you think this would be an option again in the future?

Yes. At present we are considering and assessing plans for a further funding-for-equity deal which is realistic.

Is UBIG still fully committed to Hearts?

It is 'fact' that UBIG is 100% behind the club and its future development plans. UBIG has been an essential backer and partner of Hearts since the outright purchase of the club in February 2005. In the five years we have been at the club and we have achieved some success and at some times were deprived of success, but at all times we remain committed to the club. If you look at the board of the club, closest representatives of the owner are there and it shows the level of importance and commitment.

Since we came in the financial situation has been solid. All payments are ok at the club. The players are paid for five years since we have bought the club and the bonuses are paid when the team deserves a bonus.

UBIG provides funding for the club along with a range of other resources such as business expertise, connections to other football organisations and business contacts. This is evidenced in our ongoing planning for the Tynecastle stadium redevelopment, our bank development and other projects and business opportunities in Edinburgh.

Hearts enjoys an excellent relationship with UBIG and as long as Hearts maintains a focus on operational efficiencies and progressing the club in business development terms then we can look forward to many more years of support from the organisation.

And what about Ukio Bankas, the club's bankers, how do you view that relationship in light of the pressures being faced by financial institutions?

Ukio Bankas maintains ambitious development plans and the bank remains profitable unlike most others in UK and elsewhere in Europe. Ukio Bankas is a very supportive partner of the club. For example, our banking relationship ensures that Hearts receives first class quality and timely service.

Does the economic climate prohibit Hearts from securing further investment funding for projects such as the stadium redevelopment?

We are working to deliver an investment solution that will allow us to generate a profit for the club from an enhanced stadium which provides the best spectator experience.

We continue to envisage a redeveloped stadium at Tynecastle which provides great benefits to the club and its supporters. External funding is not a necessary element of our future strategy but we remain open minded about partnership opportunities that will help develop the club. We are currently assessing certain investment options and we believe that we are making good progress in this area.

What can we expect from the forthcoming Annual Results?

We will be issuing our annual results in the early part of next year and they are in line with expectations. We expect to demonstrate significant savings in key operational areas.






ATTENTION: Heart of Midlothian Football Club values the opportunity to communicate direct with our supporters. You may receive this email more than once, depending on your purchasing history. If you do not wish to receive such email communication or wish to tell us you received multiple versions of this email please email ticket@homplc.co.uk.

LATEST NEWS | TICKET NEWS | ONLINE STORE | HEARTS.TV | CONTACT US





This email was sent to you by Heart of Midlothian, Tynecastle Stadium, McLeod Street, EH11 2NL. You are receiving this email advertisement because your email address was used for a ticket purchase or you signed up via our website. You may update your account preferences or unsubscribe through our website, or contact us at customerservice@homplc.co.uk.

[Future17]

Think I'll just lend myself a few £k and have a whale of a christmas and new year as well as the Ferrari I've been promising myself, safe in the knowledge that it would be interest free and I need not pay it back.
Think my bank would let me away with it?

It's not interest-free, instead of paying the interest it just accumulates on top of the debt.

Lifetime Equity Plan mortgages in the UK work/worked in a similar way. Borrow money when you're at an advanced stage of decrepitness, don't pay monthly payments, but when you finally snuff it, we'll take your house.

Sound ominous? :greengrin

[SolentHibee]

They seem to be saying that the debt just gets bigger and no interest and no repayments are made.

If they truly were paying no interest it would surely have shown on the last accounts and someone would have commented on it?

[O'Rourke3]

:wtf: The debt is funding? So Hearts debts are really loans to UBIG or are negative loans from UBIG:wtf:

[lapsedhibee]

"we owe the money to ourselves"

I thought this was a made-up phrase we use to make fun of them, I never knew they actually take it seriously:faf:

It was made-up, but by their fans, not us. The fact that The Management has now adopted it as official speak shows what a state burden-laden Hearts are in.

Think this'll turn out to have been a spoof though.

[down the slope]

The deluded ones are swallowing this hook line and sinker !, oh ma sides. Only that lot would believe such a pile of p!sh.

[matty_f]

It was made-up, but by their fans, not us. The fact that The Management has now adopted it as official speak shows what a state burden-laden Hearts are in.

Think this'll turn out to have been a spoof though.

I would think it's definitely not a spoof - it's gone out to a database mailing list, and I think it's planned to go on their website (if it's not there already).

[Dashing Bob S]

Fabulous stuff! They remain so 'committed' that Vlad decided to take in a local basketball match rather than visit the PBS on Saturday for the supposed 'crunch strategy' talks with Casa.

Incidentally, I was driving home when that old Dr Hook and the Medicine song 'Sylvia's Mother' came on the radio.

I was suitably inspired:

Vladimir’s mother says
Vladimir’s busy
Too busy to come to the phone
Vladimir’s mother says
Vladimir’s tired
You’ll just have to go it alone
Vladimir’s mother says
Vladimir’s had it
Of your hollow ad-u-la-tion

And the fax operator says
30 million debt more
for the next...three...seasons

Oh-oh please Mr Romanov
Just gotta talk to you
We’ll only keep you a while
Please Mr Romanov
Throw us some crumbs from your pile

Vladimir’s son he says
Vladimir’s fed up
Being hounded by the SFA
Vladimir’s son he says
Fantasised new stands
Will keep all those assholes at bay
Vladimir’s son he says
Two World Cup signings
And all those sins will be atoned

And the fax operator says
40 million debt more
for the next...three...seasons

Oh-oh please Mr Romanov
Just gotta talk to you
We’ll only keep you a while
Please Mr Romanov
Don’t make us play on the Gyle


Feel free to add, subtract and amend verses.

[PaulSmith]

If the money owed isn't a debt then why bother with a debt for equity swap?

[Barney McGrew]

Think this'll turn out to have been a spoof though.

If it was any other club I'd agree with you, but the Yams are almost becoming a parody of themselves. Nutters running a club with players who are nutters and who are supported by nutters.

It smacks of a desperate attempt to keep the big team supporters on board, just before the double whammy of the wee team announcing the building of the final piece of ER (despite not having a box that would make you exclaim 'Now that's what I call a planning application) and the imminent announcement of their annual results (now six months out of date) where they'll have taken another roasting through 'registration fees' and interest payments that go straight back to the vaults of the mothership in Lithuania.

[PaulSmith]

No spoof, on official site word for word

[SolentHibee]

Some yam on kickback checked their accounts from last year and it had an item headed 'interest' of £2.248Million.

So how does this translate into not paying interest exactly?

[Hank Schrader]

Its just a lot of wind and pish designed to keep the delusional plums happy.

They will be lapping it up on Keechback no doubt.:rolleyes: Helmets.

[PaulSmith]

Some yam on kickback checked their accounts from last year and it had an item headed 'interest' of £2.248Million.

So how does this translate into not paying interest exactly?

Maybe filed under the same method as 'player registrations' :greengrin

[thebakerboy]

Anyone wanting to read message "in situ" it appears in news section of Hearts Official Web Site. In view of this whole new idea of lending I am going to lend myself a sum equivelant to my mortgage and then accrue the interest until it amounts to the same figure and pay it off . Im really sure this will work and if my current lender objects will just point them to this article and they will be happy. AYE RIGHT SO THEY WILL:rolleyes::boo hoo::dizzy::greengrin

[Danderhall Hibs]

Anyone wanting to read message "in situ" it appears in news section of Hearts Official Web Site. In view of this whole new idea of lending I am going to lend myself a sum equivelant to my mortgage and then accrue the interest until it amounts to the same figure and pay it off . Im really sure this will work and if my current lender objects will just point them to this article and they will be happy. AYE RIGHT SO THEY WILL:rolleyes::boo hoo::dizzy::greengrin

Would you not need the money in the 1st place before you could lend yourself it?

I'm getting confused with all this. But then that's the point of it isn't it?

[Bostonhibby]

an enhanced stadium which provides the best spectator experience

I liked this bit, What does it mean? can anyone translate? is it, we are building a cheaper stadium than before? whats a spectator experience? is it when you get shafted but don't know it :faf::trumpet:

[poolman]

It's definitely official

Just heard it on STV news

They owe the money to themselves and it's not "real debt" :faf:

Ach, what do us peg-selling junkie inbreds know about running a football club the proper way :rolleyes:

[Kevvy1875]

"we owe the money to ourselves"

I thought this was a made-up phrase we use to make fun of them, I never knew they actually take it seriously:faf:


Thats my fav bit too:top marks

Got the email forwarded to me from a Yam colleague too. Do they "believe" again?

Vlad is a pure genius btw.....I see merchandise and ticket sales giving Vlad a nice wee christmas bonus:greengrin

[Bostonhibby]

Ach, thats it then, nae fire sale, they're going to lend themselves £100m, build the £51m stadium, spend the rest on new signings. Things should go really well at the PBS after January window. Am back to being a jealous hobo again.......

[HibbyAndy]

15 Points behind Hibernian and its not even xmas yet.


GIFRU every deluded Yambo that walks the earth..you were conned by a total moron off a man.you have no credibility left, your team is a joke, and your have no prospects to look forward to, the sooner your team goes bust the better.

Happy Christmas you bunch of Losers.

[TheMentalHibees]

15 Points behind Hibernian and its not even xmas yet.


GIFRU every deluded Yambo that walks the earth..you were conned by a total moron off a man.you have no credibility left, your team is a joke, and your have no prospects to look forward to, the sooner your team goes bust the better.

Happy Christmas you bunch of Losers.

Should send that to every Yam that got that email :greengrin

[jacomo]

Is this a good cop / bad cop routine?

Vlad slaps them around a bit, then Serge tells them everything they want to hear.

Dear me, I can hear Vlad cackling from his bat cave as I type. He must love this.

[HibeesLA]

an enhanced stadium which provides the best spectator experience

I liked this bit, What does it mean? can anyone translate? is it, we are building a cheaper stadium than before? whats a spectator experience? is it when you get shafted but don't know it :faf::trumpet:

They turn the stand around so it doesn't face the pitch?? :confused:

[CropleyWasGod]

I'm going to put my tin hat on here and go against the general merriment.

This kind of thing makes me so angry, and brings out the socialist in me. Like someone said earlier, I thought the "owing money to ourselves" bit was just an urban myth, funny as it was. However, for this guy to actually come out and say that is beyond belief.

He, and his masters, are playing with people's livelihoods. Not just the staff at the PBS, but all the business that rely on the crowds on a Saturday, and those that Hearts employ in Edinburgh.

This cr*p is just an example of The Man telling the masses what they want to hear. Shameful, and I hope he gets his reward.

[--------]

you can kid some of the people some of the time etc


"You can fool some of the people all of the time, and all of the people some of the time, but it's only at the Big Pink Bus Shelter that you can fool ALL of the idiots ALL of the time...."

Abraham Lincoln, paraphrased by Doddie.

[Storar]

Since we came in the financial situation has been solid.

Minted:agree:

[jacomo]

I'm going to put my tin hat on here and go against the general merriment.

This kind of thing makes me so angry, and brings out the socialist in me. Like someone said earlier, I thought the "owing money to ourselves" bit was just an urban myth, funny as it was. However, for this guy to actually come out and say that is beyond belief.

He, and his masters, are playing with people's livelihoods. Not just the staff at the PBS, but all the business that rely on the crowds on a Saturday, and those that Hearts employ in Edinburgh.

This cr*p is just an example of The Man telling the masses what they want to hear. Shameful, and I hope he gets his reward.

:agree:

I agree, this really is a disgrace. Hearts are now effectively a zombie institution, without even any directors based in Edinburgh to defend the interests of the club.

Still, it seems this IS what the masses want - and we can hardly rise up and start the revolution on their behalf, can we? If the Yams care enough, they should start organising themselves.

[Jack]

Speculation by the commentators about to do the Cake Utd. Vs Huns game (clicked on the wrong link, honest!) that Hearts debt will be in the region of £40,000,000 aye that’s the most they are currently allowed!

They're not being very nice!

[Pedantic_Hibee]

That'll keep them quiet for another 6 months undoubtedly.

Top timing that email, sending it just as their fans were collectively about to grow a pair of baws and do something about their club for once *s******, s*******

Ah well, 'tis the season to receive a shafting in silence by Uncle Vlad once more.

Get it wrapped right round ye's. Fuds.

[Sergey]

Speculation by the commentators about to do the Cake Utd. Vs Huns game (clicked on the wrong link, honest!) that Hearts debt will be in the region of £40,000,000 aye that’s the most they are currently allowed!

They're not being very nice!

I'd even go as far as to say they've exceeded that figure, hence today's statement.

They defaulted on a £1.4M payment to HMRC while there was a winding-up order hanging over them, and that would suggest to me that the bottom of the barrel was reached, and breached.

This statement today reeks of the Yams being in the proverbial "last chance saloon" and the wording of several passages speaks volumes.

[lapsedhibee]

I would think it's definitely not a spoof - it's gone out to a database mailing list, and I think it's planned to go on their website (if it's not there already).

Going out to the database of 400,000 wouldn't in itself convince me it was genuine, as relegation candidates Hearts are such a shambles that it probably wouldn't take a genius to hack into their mailing list. Appearing on their fishy site for several hours convinces me it's not a hobo's work, but I still say that deep down someone's having a laugh at the jambos' expense. :wink:

[thebakerboy]

Very strange. Made even stranger by the sheer coincidence that Ukio Bankas only this afternoon announced a loan of 50,000,000 Lith Litas

£13M in real money (http://www.nasdaqomxbaltic.com/market/?pg=details&instrument=LT0000102352&list=2&tab=news&news_id=238463)


As Danderhall Hibee said in reply to my previous post "dont you have to have the money in the first place" like borrow it from someone else and then pay them interest. ie CATCH 22 you are still in debt as a company although susiduary "HEARTS" dont show loan only parent company ie UBIG . Oh god Im losing myself here beginning to believe NOT!!:confused::confused::confused::confused:

[lapsedhibee]

This kind of thing makes me so angry, and brings out the socialist in me. Like someone said earlier, I thought the "owing money to ourselves" bit was just an urban myth, funny as it was. However, for this guy to actually come out and say that is beyond belief.


Bit harsh on Mr Romanov. Owing money to ourselves was a theory first propounded in kickbackistan. In taking it up, The Management has merely shown itself to be responsive to the needs of the fanbase. Isn't that what every fitba supporter craves - to be listened to by The Management? To be honest, I'm a bit jealous of what the yams have achieved there in terms of bottom-up democracy. One or two pores have started oozing.

Bottom-up democracy not to be confused with Fatty F's "Bottoms Up!" expenses claims for his 'work' when an elected representative.

[greenginger]

"It's not really debt because we owe it to ourselves" ------- What a croc of Sh*t.

£17 million owed to Ukio Bankas due for repayment in February. This is'nt the Bank's money it will belong to depositors with the bank and lenders like the party who agreed to loan the bank 50 million LTL today. They will all require to be repaid sooner or later.

£14 million +++++++ loaned/invested by UBIG. Again large debt due by UBIG to Ukio Bankas and same source of funding. Ukio Bankas creditors will need to be repaid.

Who is this PR exorcise aimed at ?

Your average Yam , sure but more likely aimed at softening up their Auditors, Johnton Carmichael, who issued heavily qualified accounts about 3 months late last time and must be seriously question the wisdom of signing off another set of accounts even for fees of £58,000 as per last accounts.

Interestingly Hibs total audit fee for last year £14,000. What are the Jambos paying for ?????????

[Storar]

I know that this guy is saying that they owe the money to themselves but can anybody remember an interview with Romanov where he said this wasn't the case:confused:

Hope I'm not making this up!

[Don Giovanni]

It worked for Fred Goodwin and Bernie Madoff, so I don't see any reasons why it won't work for Mr Romanov.

Yep, by all accounts Mr. Goodwin has done very handsomely out of it.

Hows that grand old institution he used to run doing though? ;)

[crewetollhibee]

"Hearts enjoys an excellent relationship with UBIG and as long as Hearts maintains a focus on operational efficiencies and progressing the club in business development terms then we can look forward to many more years of support from the organisation."


There's their get-out clause, right there. :greengrin
That's probably the type of clause that Acenture had inserted in their contract with Tiger Woods. :devil:

[Hibby70]

Actually reminds me of my favourite film "The Shawshank Redemption". Think Stephen King must have had a premonition when he wrote it.

RED
Got his fingers in a lot of pies,
from what I hear.

ANDY
What you hear isn't half of it.
He's got scams you haven't dreamed
of. Kickbacks on his kickbacks.
There's a river of dirty money
flowing through this place.

RED
Money like that can be a problem.
Sooner or later you gotta explain
where it came from.

[hibsbollah]

That's probably the type of clause that Acenture had inserted in their contract with Tiger Woods. :devil:

I never thought I would read a post mentioning Accenture on hibs.net:faf:

[Phil D. Rolls]

Ach, thats it then, nae fire sale, they're going to lend themselves £100m, build the £51m stadium, spend the rest on new signings. Things should go really well at the PBS after January window. Am back to being a jealous hobo again.......

I'm cr*pping myself, they are still in two cups, and have a really good chance of catching us in the league now that this news is out. We won't be able to call them "struggling Hearts" any more. :boo hoo:


I'm going to put my tin hat on here and go against the general merriment.

This kind of thing makes me so angry, and brings out the socialist in me. Like someone said earlier, I thought the "owing money to ourselves" bit was just an urban myth, funny as it was. However, for this guy to actually come out and say that is beyond belief.

He, and his masters, are playing with people's livelihoods. Not just the staff at the PBS, but all the business that rely on the crowds on a Saturday, and those that Hearts employ in Edinburgh.

This cr*p is just an example of The Man telling the masses what they want to hear. Shameful, and I hope he gets his reward.

People like Vlad and others play games with the values of supporters. As businessmen they do not understand concepts like loyalty and tradition. Everything in their lives in centred on them and on the moment.

Supporters of all clubs should be very careful what they wish for the next time their team has a bad couple of seasons. Otherwise asset strippers like Sir Vlad can dispose of their team like the wet bog roll. And the fans dreams and lives go with it.

If someone like Vlad tried to take over our club, I'd do *****ing time, I swear it!

[johnrebus]

I don't really give a **** what happens to them, but - God forbid - if I was a Jambo I would be starting to ask that well known and famous ' Hawrts ' supporter and Scotland First Minister Alex Salmond to start investigating just what the **** is going on ?

Or is he scared of Vlad too ?


:faf:

[Phil D. Rolls]

I don't really give a **** what happens to them, but - God forbid - if I was a Jambo I would be starting to ask that well known and famous ' Hawrts ' supporter and Scotland First Minister Alex Salmond to start investigating just what the **** is going on ?

Or is he scared of Vlad too ?


:faf:

There's 400,000 votes at stake, you'd think he'd consider it.

[down the slope]

They really believe this.

"Told us nothing we shouldn't have already known before.

We owe our debt to UBIG. Happily, our top brass are also UBIG top brass, so we owe ourselves this money.
It's just numbers on a screen being shunted around internally within the Romanov empire.
__________________
FACT"

They think there will be no day of reckoning.

[jabis]

They really believe this.

"Told us nothing we shouldn't have already known before.

We owe our debt to UBIG. Happily, our top brass are also UBIG top brass, so we owe ourselves this money.
It's just numbers on a screen being shunted around internally within the Romanov empire.
__________________
FACT"

They think there will be no day of reckoning.



And today's new word is...............................



































deluded

[Sergy Pie]

Goodness me, that's a bad read.

[Bostonhibby]

Just an afterthought really, if I lend myself half a million and don't pay it back will I have to send the heavies round?

[Danderhall Hibs]

Just an afterthought really, if I lend myself half a million and don't pay it back will I have to send the heavies round?

If you don't mind me asking, where are you goin to get the half million in the 1st place?

[Caversham Green]

This statement looks like the equivalent of a club chairman saying they continue to have faith in the manager or Northern Rock's "temporary" shortage of funds.

Maybe it's a precursor to another bad set of accounts or the sale/transfer of Tynie to meet the debt due in February (all of which are conspicuous by their absence in the interview despite being the pressing topics of the moment*), but I get the feeling excrement is headed towards the air diffuser and impact will occur probably in the next two months. Why else would they issue such a statement?

Something is going to happen.

* They do mention the accounts, talking about savings in key areas. Last year's word was 'the finances are heading in the right direction' - how did that one work out?

[steakbake]

I don't really give a **** what happens to them, but - God forbid - if I was a Jambo I would be starting to ask that well known and famous ' Hawrts ' supporter and Scotland First Minister Alex Salmond to start investigating just what the **** is going on ?

Or is he scared of Vlad too ?


:faf:

Could also get George Foulkes to do one of his devastating, smear laden Freedom of Information requests?

[Bostonhibby]

If you don't mind me asking, where are you goin to get the half million in the 1st place?

UBIG, like everybody else I thought, as you don't have to pay them back so technically the money becomes yours. Banking crisis, what banking crisis?

In reality I will probably lend myself a tenner just to test the water.

[Irish_Steve]

"It's not really debt because we owe it to ourselves" ------- What a croc of Sh*t.

£17 million owed to Ukio Bankas due for repayment in February. This is'nt the Bank's money it will belong to depositors with the bank and lenders like the party who agreed to loan the bank 50 million LTL today. They will all require to be repaid sooner or later.

£14 million +++++++ loaned/invested by UBIG. Again large debt due by UBIG to Ukio Bankas and same source of funding. Ukio Bankas creditors will need to be repaid.

Who is this PR exorcise aimed at ?

Your average Yam , sure but more likely aimed at softening up their Auditors, Johnton Carmichael, who issued heavily qualified accounts about 3 months late last time and must be seriously question the wisdom of signing off another set of accounts even for fees of £58,000 as per last accounts.

Interestingly Hibs total audit fee for last year £14,000. What are the Jambos paying for ?????????

Wee team, wee audit fees!

[Danderhall Hibs]

UBIG, like everybody else I thought, as you don't have to pay them back so technically the money becomes yours. Banking crisis, what banking crisis?

In reality I will probably lend myself a tenner just to test the water.

:tee hee: Be brave start with £20 and work your way up to £40m.

[Kaiser_Sauzee]

Sergejus Fedotovas
Director, Heart of Midlothian Football Club
World Exclusive: In safe hands
In an exclusive interview, director Sergejus Fedotovas reveals he is confident that Hearts is well positioned to manage the economic storm affecting Scottish football.
Sergejus spoke exclusively to Hearts News at Tynecastle and emphasised that Hearts is cushioned from the external financial pressures faced by other clubs.

The debt carried by many football clubs is headline news at present, how exposed is Hearts to its existing debt?
The key fact, that sets Hearts apart from many other clubs, is that our debt is in the form of funding from our own parent company Ukio Banko Investicine Grupe (UBIG). We are not exposed to the external debt levels of other highly geared businesses.
Our positive funding arrangement means that it is our own Group that finances Hearts and not external financial institutions. We therefore do not consider this as "real" debt - in simple terms, we owe the money to ourselves :wink: as Hearts is owned by UBIG. This positive funding arrangement provides security of funding for the club and, in turn, this allows us to both weather the current challenging economic conditions but, most importantly, develop the business for the future.
The club does not pay the interest on the debt, just accumulates it - it shows that the owners are not profiting from the club.

While UBIG is a well resourced and financed multi-national organisation our positive funding arrangement does not mean that we are ambivalent in our management of Hearts. The onus is to ensure Hearts is run efficiently and is maximising its revenue generating opportunities.

UBIG offered a 'funding-for-equity' deal previously to reduce the club's debt by £12m in July 2007, do you think this would be an option again in the future?
Yes. At present we are considering and assessing plans for a further funding-for-equity deal which is realistic.

Is UBIG still fully committed to Hearts?
It is 'fact' that UBIG is 100% behind the club and its future development plans. UBIG has been an essential backer and partner of Hearts since the outright purchase of the club in February 2005. In the five years we have been at the club and we have achieved some success and at some times were deprived of success, but at all times we remain committed to the club. If you look at the board of the club, closest representatives of the owner are there and it shows the level of importance and commitment.
Since we came in the financial situation has been solid. All payments are ok at the club. :wink: The players are paid for five years since we have bought the club and the bonuses are paid when the team deserves a bonus.
UBIG provides funding for the club along with a range of other resources such as business expertise, connections to other football organisations and business contacts. This is evidenced in our ongoing planning for the Tynecastle stadium redevelopment, our bank development and other projects and business opportunities in Edinburgh.
Hearts enjoys an excellent relationship with UBIG and as long as Hearts maintains a focus on operational efficiencies and progressing the club in business development terms then we can look forward to many more years of support from the organisation.

And what about Ukio Bankas, the club's bankers, how do you view that relationship in light of the pressures being faced by financial institutions?
Ukio Bankas maintains ambitious development plans and the bank remains profitable unlike most others in UK and elsewhere in Europe. Ukio Bankas is a very supportive partner of the club. For example, our banking relationship ensures that Hearts receives first class quality and timely service.

Does the economic climate prohibit Hearts from securing further investment funding for projects such as the stadium redevelopment?
We are working to deliver an investment solution that will allow us to generate a profit for the club from an enhanced stadium which provides the best spectator experience.
We continue to envisage a redeveloped stadium at Tynecastle which provides great benefits to the club and its supporters. External funding is not a necessary element of our future strategy but we remain open minded about partnership opportunities that will help develop the club. We are currently assessing certain investment options and we believe that we are making good progress in this area.

What can we expect from the forthcoming Annual Results?
We will be issuing our annual results in the early part of next year and they are in line with expectations. We expect to demonstrate significant savings in key operational areas.

[lapsedhibee]

In reality I will probably lend myself a tenner just to test the water.

The water's really not an issue. When you're putting paper money through the machine, it's whether to go biological or non-biological with the powder. Some banknotes used to have 'Linen' printed on them, but that didn't mean you could blithely select the 'Linen' wash. No sirree bob.

[Jack]

People like Vlad and others play games with the values of supporters. As businessmen they do not understand concepts like loyalty and tradition. Everything in their lives in centred on them and on the moment.

Supporters of all clubs should be very careful what they wish for the next time their team has a bad couple of seasons. Otherwise asset strippers like Sir Vlad can dispose of their team like the wet bog roll. And the fans dreams and lives go with it.

If someone like Vlad tried to take over our club, I'd do *****ing time, I swear it!

:grr: Your showing too much empathy :grr:

Away and have a cold shower :agree:

[passionatehibby]

I found this latest interview with one of vlads 'yes-men' . It looks like they are even deluded at the top - How can they say that they are not in any debt because they owe the money to themselves? :dunno: It does not make any sense to me, it's full of 'spin' . You can check out the full interview bellow.

Sergejus Fedotovas
Director, Heart of Midlothian Football Club

World Exclusive: In safe hands


In an exclusive interview, director Sergejus Fedotovas reveals he is confident that Hearts is well positioned to manage the economic storm affecting Scottish football.
Sergejus spoke exclusively to Hearts News at Tynecastle and emphasised that Hearts is cushioned from the external financial pressures faced by other clubs.

The debt carried by many football clubs is headline news at present, how exposed is Hearts to its existing debt?

The key fact, that sets Hearts apart from many other clubs, is that our debt is in the form of funding from our own parent company Ukio Banko Investicine Grupe (UBIG). We are not exposed to the external debt levels of other highly geared businesses.
Our positive funding arrangement means that it is our own Group that finances Hearts and not external financial institutions. We therefore do not consider this as "real" debt - in simple terms, we owe the money to ourselves as Hearts is owned by UBIG. This positive funding arrangement provides security of funding for the club and, in turn, this allows us to both weather the current challenging economic conditions but, most importantly, develop the business for the future.
The club does not pay the interest on the debt, just accumulates it - it shows that the owners are not profiting from the club.
While UBIG is a well resourced and financed multi-national organisation our positive funding arrangement does not mean that we are ambivalent in our management of Hearts. The onus is to ensure Hearts is run efficiently and is maximising its revenue generating opportunities.

UBIG offered a 'funding-for-equity' deal previously to reduce the club's debt by £12m in July 2007, do you think this would be an option again in the future?

Yes. At present we are considering and assessing plans for a further funding-for-equity deal which is realistic.

Is UBIG still fully committed to Hearts?

It is 'fact' that UBIG is 100% behind the club and its future development plans. UBIG has been an essential backer and partner of Hearts since the outright purchase of the club in February 2005. In the five years we have been at the club and we have achieved some success and at some times were deprived of success, but at all times we remain committed to the club. If you look at the board of the club, closest representatives of the owner are there and it shows the level of importance and commitment.
Since we came in the financial situation has been solid. All payments are ok at the club. The players are paid for five years since we have bought the club and the bonuses are paid when the team deserves a bonus.
UBIG provides funding for the club along with a range of other resources such as business expertise, connections to other football organisations and business contacts. This is evidenced in our ongoing planning for the Tynecastle stadium redevelopment, our bank development and other projects and business opportunities in Edinburgh.
Hearts enjoys an excellent relationship with UBIG and as long as Hearts maintains a focus on operational efficiencies and progressing the club in business development terms then we can look forward to many more years of support from the organisation.

And what about Ukio Bankas, the club's bankers, how do you view that relationship in light of the pressures being faced by financial institutions?

Ukio Bankas maintains ambitious development plans and the bank remains profitable unlike most others in UK and elsewhere in Europe. Ukio Bankas is a very supportive partner of the club. For example, our banking relationship ensures that Hearts receives first class quality and timely service.

Does the economic climate prohibit Hearts from securing further investment funding for projects such as the stadium redevelopment?

We are working to deliver an investment solution that will allow us to generate a profit for the club from an enhanced stadium which provides the best spectator experience.
We continue to envisage a redeveloped stadium at Tynecastle which provides great benefits to the club and its supporters. External funding is not a necessary element of our future strategy but we remain open minded about partnership opportunities that will help develop the club. We are currently assessing certain investment options and we believe that we are making good progress in this area.

What can we expect from the forthcoming Annual Results?

We will be issuing our annual results in the early part of next year and they are in line with expectations. We expect to demonstrate significant savings in key operational areas.

[Sunny1875]

Was just gonna post the above. It was sent to my Yam wifes Email

[Viva_Palmeiras]

"The club does not pay the interest on the debt, just accumulates it "

Is this not a contradiction (whilst they dont pay it they are probably charged for it)? Even if they dont charge interest I'm sure its all down to semantics - they'll get there money in "service charges".

"...- it shows that the owners are not profiting from the club."
Yes I'm sure Vlad is well known for his philantrophy.

He is probably quite right in that other clubs owe money to creditors who are likely to come chasing direct where as Hearts don't strictly speaking - apart from suppliers, members of staff they hack off.

Hearts therefore have only to fear creditors/regulators chasing UBIG and the HMRC of course.

[YehButNoBut]

You've not been paying attention. :wink:

http://www.hibs.net/message/showthread.php?t=169262

[euro Hibby]

from the scotsman :

The director plays down concerns about the size of the existing debt at Tynecastle and explains that, since the money is owed to the parent company, it is not considered to be 'real debt'.

"The key fact, that sets Hearts apart from many other clubs, is that our debt is in the form of funding from our parent company Ukio Banko Investicine Grupe (UBIG]," explained Fedotovas.

"Our positive funding arrangement that it is our own Group that finances Hearts and not external financial institutions," he continued. "We therefore do not consider this as 'real' debt – in simple terms, we owe the money to ourselves as Hearts is owned by UBIG. This positive funding arrangement provides security of funding for the club and, in turn, this allows us both to weather the current challenging economic conditions but, most importantly, develop the business for the future.

"The club does not pay the interest on the debt, just accumulates it – it shows that the owners are not profiting from the club."

[H1bs6H3arts2 FC]

from the scotsman :

The director plays down concerns about the size of the existing debt at Tynecastle and explains that, since the money is owed to the parent company, it is not considered to be 'real debt'.

"The key fact, that sets Hearts apart from many other clubs, is that our debt is in the form of funding from our parent company Ukio Banko Investicine Grupe (UBIG]," explained Fedotovas.

"Our positive funding arrangement that it is our own Group that finances Hearts and not external financial institutions," he continued. "We therefore do not consider this as 'real' debt – in simple terms, we owe the money to ourselves as Hearts is owned by UBIG. This positive funding arrangement provides security of funding for the club and, in turn, this allows us both to weather the current challenging economic conditions but, most importantly, develop the business for the future.

"The club does not pay the interest on the debt, just accumulates it – it shows that the owners are not profiting from the club."

so the interest is accumulating to be paid at a later date, like when tynecastles sold !!! :faf::jamboak:

[StevieC]

"The club does not pay the interest on the debt, just accumulates it – it shows that the owners are not profiting from the club."

Isn't that how the old style loan sharks used to work?

Keep adding on to your original debt so that you'd never get it paid off and were continually in their debt and giving them all your income.

It seems to me they are adding the interest on to the debt but when it comes to income from transfers .. :hmmm:

:titanic:

[YehButNoBut]

Another belter from the Scotsman from Kiwi Doug, who is either a complete tool or a Hibby on the wind up.

"I know it sounds a bit arrogant but you are miles out of your depth here. FACT as you put it is that Hearts are debt free. The issue isn't whether or not that is true, the issue is whether it is a good thing.

It is not.

Hearts should borrow against their assets to improve the stadium and improve the player pool. If you don't do that sort of thing you just stagnate.

I know this may seem complex but in the world of business it is the only way forward.

If you don't borrow against your assets to you improve your position, you are liable to find that over a period of 57 years or so, you have achieved nothing."

So know Hearts are debt free as you cannot owe money to yourself, and what assets do they have to borrow against. :faf:

[hibhib7]

Of course, they owe the money to themselves, so it's not really a debt. When I borrow money from myself I just tell myself to forget it and call it quits. Why don't they try that approach - the question of being in debt never rears its ugly head.

[Jim44]

believe

[Barney McGrew]

:hilarious

I'm loving it that the Kickback yams have now been put back in their boxes, safe in the knowledge that everything is OK because an interview with Fedatovas says that everything is OK.

While completely dismissing the interview a few months back with Vlad, where he says he's taken millions out of the club.

I don't know which one of them to beleive :confused:

:cool2:

[MB62]

So can we expect Csaba to hit Fergie with a bid of £100m for Rooney, as he looks to solve the Yams striker problem. I'm sure if you offered Wayne £150,000 a week he would jump at the chance, especially when he hears Drogba is about to sign too.
When you have a limitless amount of finances to use, as you are just borrowing money from yourself regardless of the amount, then why not use it?
?
Or have I got this wrong somehow? :confused:

[Hibbie0762]

So can we expect Csaba to hit Fergie with a bid of £100m for Rooney, as he looks to solve the Yams striker problem. I'm sure if you offered Wayne £150,000 a week he would jump at the chance, especially when he hears Drogba is about to sign too.
When you have a limitless amount of finances to use, as you are just borrowing money from yourself regardless of the amount, then why not use it?
?
Or have I got this wrong somehow? :confused:When do the Yams' 2010/11 Season Tickets go on sale? The annual Tynecastle festival of the throwing of the crumbs to the deluded usually precedes the ST announcement by only a few weeks.

[Phil D. Rolls]

:grr: Your showing too much empathy :grr:

Away and have a cold shower :agree:

Brrrr......well that's taken my mind off sex, now what was everyone saying about those deluded muppets who live next to the distillery?


When do the Yams' 2010/11 Season Tickets go on sale? The annual Tynecastle festival of the throwing of the crumbs to the deluded usually precedes the ST announcement by only a few weeks.

At this rate, I would guess about two weeks before the ones for 2011/12. Never mind the debt, I think they have cash flow problems.

[Kato]

believe

The funny thing is a lot of them do.

Complete mugs.

[Woody1985]

Ye couldnae make it up. oh ma sides

The club does not pay the interest on the debt, just accumulates it - it shows that the owners are not profiting from the club

That's the thing that stuck out the most to me. No doubt the interest accrued accrues interest aswell, making the debt greater than it would be if the just paid the interest.

[Phil D. Rolls]

That's the thing that stuck out the most to me. No doubt the interest accrued accrues interest aswell making the debt greater than it would be if the just paid the interest.

You're all missing the point. The longer this goes on, the more money Struggling Hearts will owe to themselves, and the richer they will be.

In the present savings climate, with banks and such going under, I think it is prudent fiscal management to save with yourself. There are also lots of advantages such as: not having to stand behind pensioners in the queue at Northern Rock, and there are cost savings on all that needless correspondence telling you about changes to your current account.

It's the way ahead, and I am surprised that a progressive club like Hibs haven't adapted a similair model. Still at least our players never have to worry about their exhausts falling off.

[dangermouse]

So can we expect Csaba to hit Fergie with a bid of £100m for Rooney, as he looks to solve the Yams striker problem. I'm sure if you offered Wayne £150,000 a week he would jump at the chance, especially when he hears Drogba is about to sign too.
When you have a limitless amount of finances to use, as you are just borrowing money from yourself regardless of the amount, then why not use it?
?
Or have I got this wrong somehow? :confused:

I reckon that Hibs should adopt this approach and borrow say £500M from STF (if he's got that much) which we would in effect then owe to ourselves. We could complete the stadium (3 tiers on all sides and corners filled in) buy a host of world cup stars in January and go on to win the league & cup double and the Champions League next season.

Simples.

[Phil D. Rolls]

I reckon that Hibs should adopt this approach and borrow say £500M from STF (if he's got that much) which we would in effect then owe to ourselves. We could complete the stadium (3 tiers on all sides and corners filled in) buy a host of world cup stars in January and go on to win the league & cup double and the Champions League next season.

Simples.

Failing that, I'd settle for a front,middle and rear section in the stands. :greengrin

[Dipped flake]

here we go again. You lot have a team that is flying high at the moment but all you seem to be bothered about is our debt/administration/ etc. Have been on this board for a couple of years now and you could just cut and paste threads from the last 2 years to save everybody the bother of typing in these 'new' threads. On the subject of the email that we all got sent I took it as good news in that the fans have been asking the club for information and we got it. Most of it is just repeating what we have known all along; our 'debt' is held by the company we are part of so we don't have someone breaking our doors down for payment.
As I have stated on here numerous times our club is being run sensibly now. High wage earners are kicked out if we can sell them or when their contracts run out. Vlad has stated many times in the last couple of years that we have to bring through our youngsters on much lower wages than we paid in the past (ludicrously high ones I admit). Performances on the park have suffered and will continue to do so for a while but that's just life.

[dangermouse]

here we go again. You lot have a team that is flying high at the moment but all you seem to be bothered about is our debt/administration/ etc. Have been on this board for a couple of years now and you could just cut and paste threads from the last 2 years to save everybody the bother of typing in these 'new' threads. On the subject of the email that we all got sent I took it as good news in that the fans have been asking the club for information and we got it. Most of it is just repeating what we have known all along; our 'debt' is held by the company we are part of so we don't have someone breaking our doors down for payment.
As I have stated on here numerous times our club is being run sensibly now. High wage earners are kicked out if we can sell them or when their contracts run out. Vlad has stated many times in the last couple of years that we have to bring through our youngsters on much lower wages than we paid in the past (ludicrously high ones I admit). Performances on the park have suffered and will continue to do so for a while but that's just life.

So you are quite content to see your debt rocket, best players sold and relying on youngsters to catapult your team to Champions League glory. Are any of your youngsters featuring in the World Cup next season so you can claim to have World Cup Stars in your player pool.

When the word deluded was invented they must have thought of you.

[poolman]

here we go again. You lot have a team that is flying high at the moment but all you seem to be bothered about is our debt/administration/ etc. Have been on this board for a couple of years now and you could just cut and paste threads from the last 2 years to save everybody the bother of typing in these 'new' threads. On the subject of the email that we all got sent I took it as good news in that the fans have been asking the club for information and we got it. Most of it is just repeating what we have known all along; our 'debt' is held by the company we are part of so we don't have someone breaking our doors down for payment.
As I have stated on here numerous times our club is being run sensibly now. High wage earners are kicked out if we can sell them or when their contracts run out. Vlad has stated many times in the last couple of years that we have to bring through our youngsters on much lower wages than we paid in the past (ludicrously high ones I admit). Performances on the park have suffered and will continue to do so for a while but that's just life.



:faf::faf::faf::faf:

[Danderhall Hibs]

So you are quite content to see your debt rocket, best players sold and relying on youngsters to catapult your team to Champions League glory. Are any of your youngsters featuring in the World Cup next season so you can claim to have World Cup Stars in your player pool.

When the word deluded was invented they must have thought of you.

I think they now accept that they won’t be winning the CL anytime soon and that they won’t be getting in World Cup stars. Or they won’t be paying high wages for any player. They also accept that they need to bring through decent quality young players to give them a couple of years service and then they’ll sell them on.

Pretty much following the Hibs model from a few years back – the one that they ridiculed as having no ambition and called us a “selling club” etc.

Isn’t that right Dipped Flake?

[Part/Time Supporter]

here we go again. You lot have a team that is flying high at the moment but all you seem to be bothered about is our debt/administration/ etc. Have been on this board for a couple of years now and you could just cut and paste threads from the last 2 years to save everybody the bother of typing in these 'new' threads. On the subject of the email that we all got sent I took it as good news in that the fans have been asking the club for information and we got it. Most of it is just repeating what we have known all along; our 'debt' is held by the company we are part of so we don't have someone breaking our doors down for payment.
As I have stated on here numerous times our club is being run sensibly now. High wage earners are kicked out if we can sell them or when their contracts run out. Vlad has stated many times in the last couple of years that we have to bring through our youngsters on much lower wages than we paid in the past (ludicrously high ones I admit). Performances on the park have suffered and will continue to do so for a while but that's just life.

:faf:

Kingston 15k/week
Nade 10k/week

Come off it, this email is beyond parody. It's like they copy and pasted one of Filled Rolls' skits from a couple of years back and made it their own.

[Part/Time Supporter]

I think they now accept that they won’t be winning the CL anytime soon and that they won’t be getting in World Cup stars. Or they won’t be paying high wages for any player. They also accept that they need to bring through decent quality young players to give them a couple of years service and then they’ll sell them on.

Pretty much following the Hibs model from a few years back – the one that they ridiculed as having no ambition and called us a “selling club” etc.

Isn’t that right Dipped Flake?

Except they're doing it from a point of having much more debt, less assets, less credibility, much higher overheads and needing to replace the main stand.

Apart from that, everything's peachy.

[Barney McGrew]

As I have stated on here numerous times our club is being run sensibly now. High wage earners are kicked out if we can sell them or when their contracts run out. Vlad has stated many times in the last couple of years that we have to bring through our youngsters on much lower wages than we paid in the past (ludicrously high ones I admit). Performances on the park have suffered and will continue to do so for a while but that's just life.

So if - as the propaganda e-mail says - you don't really have any debt and it's all owed to yourselves, why don't you continue to pay the ludicrously high wages?

[Dipped flake]

So you are quite content to see your debt rocket, best players sold and relying on youngsters to catapult your team to Champions League glory. Are any of your youngsters featuring in the World Cup next season so you can claim to have World Cup Stars in your player pool.

When the word deluded was invented they must have thought of you.

I would be happier if it was like it was 4 years ago when we split the OF, won the cup and Qualified for a go at the champions league but that's life. Now we mostly have to rely on our youngsters coming though, hopefully backed up by a couple of decent senior guys. How is this being deluded???? It is accepting the way we are and living with it. I have followed Hearts for nearly 50 years and for most of that time we have relied on rearing most of our own players.

[Danderhall Hibs]

Except they're doing it from a point of having much more debt, less assets, less credibility, much higher overheads and needing to replace the main stand.

Apart from that, everything's peachy.

They’ve no “debt” as such. Just money they owe. :agree:

We had the car park to sell – they’ve got Tiny.

[MyJo]

:faf:

Kingston 15k/week
Nade 10k/week

Come off it, this email is beyond parody. It's like they copy and pasted one of Filled Rolls' skits from a couple of years back and made it their own.

Before you know it HoMFC will have adopted it and e-mailed the 400,000 believers with the good news.....hooray :greengrin

[Dipped flake]

:faf:

Kingston 15k/week
Nade 10k/week

Come off it, this email is beyond parody. It's like they copy and pasted one of Filled Rolls' skits from a couple of years back and made it their own.

If you can tell me how to ged rif of Kingston and Nade without having a hitman bumping them off then we are stuck with them until their contracts run out. Unless you can help me with this then afraid that yours is the joke post

[Danderhall Hibs]

If you can tell me how to ged rif of Kingston and Nade without having a hitman bumping them off then we are stuck with them until their contracts run out. Unless you can help me with this then afraid that yours is the joke post

Could you not just pay their contracts up? A sort of redundancy payment? I think Hibs done similar with our pish players – Canning and Kerr and that.

[Dipped flake]

So if - as the propaganda e-mail says - you don't really have any debt and it's all owed to yourselves, why don't you continue to pay the ludicrously high wages?

I'll keep trying to answer some of the posts on here but I presume I am just wasting my time. Hearts have stated that we need to get to a postition where we are trading at break-even or preferably a profit. This means cutting our cloth to suit, just like every club in the world should be doing

[Danderhall Hibs]

This means cutting our cloth to suit, just like every club in the world should be doing

HAVE been doing. :agree: You're a few years behind.

[Jack]

According to Jambo pals their quality of football is not strain'd, it droppeth like hoofballed rain from heaven. It would seem, following revelations from Csaba :blah: :blah: any meagre ration of football ability remaining is about to get launched, or in Nades case lunched!


Hearts manager Csaba Laszlo says he's ready to put points before performances as he battles to turn their season around. The Jambos have won just two of their last 10 SPL games - and have gained just 14 points this season. However, with the busy festive schedule coming up, Laszlo admits he's willing to sacrifice good performances to move up the table.


New in the Hearts shop, cash only! Keep warm this winter with the new Hahahearts Balaclavas. A unique Heart of Midlothians accessory, these balaclavas come with the eye holes filled in.

[MyJo]

If you can tell me how to ged rif of Kingston and Nade without having a hitman bumping them off then we are stuck with them until their contracts run out. Unless you can help me with this then afraid that yours is the joke post

i'm afraid you seem to be missing the joke......the fact that these numpties are even on contracts of that size in the first place is the funny thing. Not quite matching up to the legends that are "the fastest Bosnian in the world (not outwith belgium)" and pinilla of course but very close

[Dipped flake]

Could you not just pay their contracts up? A sort of redundancy payment? I think Hibs done similar with our pish players – Canning and Kerr and that.
Possibly but that would obviously cost money. In Kingstons case I'm sure they wanted to sell him but he was always injured. I presume they will try again to get rid of him in January but he will be in Africa by then and miracously fit

[Cabbage East]

here we go again. You lot have a team that is flying high at the moment but all you seem to be bothered about is our debt/administration/ etc. Have been on this board for a couple of years now and you could just cut and paste threads from the last 2 years to save everybody the bother of typing in these 'new' threads. On the subject of the email that we all got sent I took it as good news in that the fans have been asking the club for information and we got it. Most of it is just repeating what we have known all along; our 'debt' is held by the company we are part of so we don't have someone breaking our doors down for payment.
As I have stated on here numerous times our club is being run sensibly now. High wage earners are kicked out if we can sell them or when their contracts run out. Vlad has stated many times in the last couple of years that we have to bring through our youngsters on much lower wages than we paid in the past (ludicrously high ones I admit). Performances on the park have suffered and will continue to do so for a while but that's just life.

Stop it please, I can't take any more :faf: :faf: :faf: :faf:

[Dipped flake]

i'm afraid you seem to be missing the joke......the fact that these numpties are even on contracts of that size in the first place is the funny thing. Not quite matching up to the legends that are "the fastest Bosnian in the world (not outwith belgium)" and pinilla of course but very close

We paid huge salaries in an effort to catch the OF. We managed that, well splitting them, but couldn't sustain it. It took another year or so before Vlad realised this and we are now paying the price. As far as Kingston is concerned he is certainly no numpty as a player but he is forever 'injured' so no use to us.

[jacomo]

I'll keep trying to answer some of the posts on here but I presume I am just wasting my time. Hearts have stated that we need to get to a postition where we are trading at break-even or preferably a profit. This means cutting our cloth to suit, just like every club in the world should be doing

Keep on posting, but don't expect us to buy the Soviet-style propaganda that you seem so eager to swallow.

Hearts are now "cutting their cloth" after becoming so troubled that they can't pay wages on time and parties are queuing up to serve winding-up petitions on them in the courts.

If this is a strategy, from a company with £40m of "funding" behind it, I'd love to know what a crisis looks like.

[Dipped flake]

Stop it please, I can't take any more :faf: :faf: :faf: :faf:
Please point out what we are doing NOW that so amuses you

[Dipped flake]

Keep on posting, but don't expect us to buy the Soviet-style propaganda that you seem so eager to swallow.

Hearts are now "cutting their cloth" after becoming so troubled that they can't pay wages on time and parties are queuing up to serve winding-up petitions on them in the courts.

If this is a strategy, from a company with £40m of "funding" behind it, I'd love to know what a crisis looks like.
A crisis would be if any of these parties 'queuing up' actually took us to court and got us wound up. As for Soviet-style propaganda, there is at least 1 poster on this board who seems to specialise in stories about Hearts financial problems that never seem to quite come true yet he is regarded as the Messiah by some on here

[MyJo]

Please point out what we are doing NOW that so amuses you

bending over

[Hibbie0762]

our club is being run sensibly nowHmmm ... where is hard evidence of that? There is no sign that club outgoings have been reduced to a level below income - all the signs are that in terms of day to day running, HMFC is still bleeding money, which is why there are not infrequent cash flow scares (players paid late, local bills left unpaid till the last minute before court action, owner reneging on bonuses etc). And from the statement, it looks as though both the growing deficit and the interest thereupon is simply being added to the principal debt. That way lies madness, not to mention insolvency.

But hey, what would a bunch of pegselling, caravan dwelling, aids-carrying Leith junkies know about the finer intricacies of Yamanomics? Your owners are telling you that everything is peachy and they have never been wrong before. I mean, the trophies, the World Cup stars, the flash new stadium, the Whole New Level - they are all there for any doubting Hibbies to see for themselves, right? :greengrin

[Danderhall Hibs]

Possibly but that would obviously cost money. In Kingstons case I'm sure they wanted to sell him but he was always injured. I presume they will try again to get rid of him in January but he will be in Africa by then and miracously fit

It would cost. But in the long-term it would cost less money than paying them £10-15k per week.

[Caversham Green]

It would cost. But in the long-term it would cost less money than paying them £10-15k per week.

:agree: And we've just been told "funding" isn't a problem....

[Part/Time Supporter]

Please point out what we are doing NOW that so amuses you

Hearts are still paying over the odds in wages, now they are doing it with average or below average players (eg Black). And as DH says, a normal club would have found some solution to the Kingston / Nade problems - loan or sale to some daft Middle East or Eastern European club, free transfer if the other club takes part of the wage on, etc.

[Hainan Hibs]

here we go again. You lot have a team that is flying high at the moment but all you seem to be bothered about is our debt/administration/ etc. Have been on this board for a couple of years now and you could just cut and paste threads from the last 2 years to save everybody the bother of typing in these 'new' threads. On the subject of the email that we all got sent I took it as good news in that the fans have been asking the club for information and we got it. Most of it is just repeating what we have known all along; our 'debt' is held by the company we are part of so we don't have someone breaking our doors down for payment.
As I have stated on here numerous times our club is being run sensibly now. High wage earners are kicked out if we can sell them or when their contracts run out. Vlad has stated many times in the last couple of years that we have to bring through our youngsters on much lower wages than we paid in the past (ludicrously high ones I admit). Performances on the park have suffered and will continue to do so for a while but that's just life.

Holy **** :faf::faf::faf::faf::faf::faf::faf::faf::faf:

[mjhibby]

A crisis would be if any of these parties 'queuing up' actually took us to court and got us wound up. As for Soviet-style propaganda, there is at least 1 poster on this board who seems to specialise in stories about Hearts financial problems that never seem to quite come true yet he is regarded as the Messiah by some on here

Your club is £30m in debt on a turnover of £10m.You are insolvent and in any other line of business would be declared bankrupt.Romanov is putting off the day when you have to start paying it back but it will have to be paid back.Do you think romanov will write off £20m out the goodness of his heart.You are as blinkered as most jambos.Funny how you had the share for equity of £12m yet the debt is still £30M.I dont really give two hoots about hertz finances but please dont insult our intelligence by saying your club is run sensibly now.Your owner is a loony and a fantastist and your team is mince.End of.

[GlesgaeHibby]

According to Jambo pals their quality of football is not strain'd, it droppeth like hoofballed rain from heaven. It would seem, following revelations from Csaba :blah: :blah: any meagre ration of football ability remaining is about to get launched, or in Nades case lunched!




New in the Hearts shop, cash only! Keep warm this winter with the new Hahahearts Balaclavas. A unique Heart of Midlothians accessory, these balaclavas come with the eye holes filled in.

:faf: Hearts have been know as the unlucky team in Scottish football at the moment haven't they? Despite that silky Dutch brand of football they play they haven't been able to win, so now they have to resort to hoofball...:faf:

How much uglier can it get?!

[Hibs7]

http://sport.scotsman.com/sport/Larry-Kingston-tells-Hearts-boss.5915907.jp

And still collecting his wages :faf::faf:

[lapsedhibee]

I'll keep trying to answer some of the posts on here but I presume I am just wasting my time.

DF nae offence likesay, but are you an undercover hobo? If not, you are definitely wasting your time trying to convert us to yamathematics. (I have scoured the work of Bertie Russell and Freddy Whitehead and their verdict is that it has "no merit".) For yams to take that e-mail from The Management at face value is possibly the most hilarious thing in all Mr Romanov's (exceptionally hilarious) years here.

[Sprouleflyer]

I think they now accept that they won’t be winning the CL anytime soon and that they won’t be getting in World Cup stars. Or they won’t be paying high wages for any player. They also accept that they need to bring through decent quality young players to give them a couple of years service and then they’ll sell them on.

Pretty much following the Hibs model from a few years back – the one that they ridiculed as having no ambition and called us a “selling club” etc.

Isn’t that right Dipped Flake?

I see you managed to ignore this post Dipped!

[Part/Time Supporter]

http://sport.scotsman.com/sport/Larry-Kingston-tells-Hearts-boss.5915907.jp

And still collecting his wages :faf::faf:

He better be fit for Ghana's Africa Cup of Nations campaign

:agree:

[jacomo]

A crisis would be if any of these parties 'queuing up' actually took us to court and got us wound up. As for Soviet-style propaganda, there is at least 1 poster on this board who seems to specialise in stories about Hearts financial problems that never seem to quite come true yet he is regarded as the Messiah by some on here

You've definitely earned this today:

:ostrich:

[Phil MaGlass]

Talk about loving it, atleast when Hibs were going doo the pan it happened pretty quickly and it took Mr Farmer to step in, but the yams just keep dragging it oot, its brilliant panto stuff,they have no money(oh yes we do)they have no strikers(oh yes we do)they have no style (oh yes we do),we have idiotic fans who swally this pi5h, hook, line and sinker(oh yes we do) oops erm "oh no we dont".A long slow death of hertz is all we as Hibs fans can ask and it is what we are being granted, god is indeed a Hibs fan.
Just pull up a comfy seat, get the beers in, sit back and lap it up.
:thumbsup: Scotlands man of the year has to be Romanov.

[Peevemor]

I'll keep trying to answer some of the posts on here but I presume I am just wasting my time. Hearts have stated that we need to get to a postition where we are trading at break-even or preferably a profit. This means cutting our cloth to suit, just like every club in the world should be doing

Then you can just ignore £40M of debt?

Oh I forgot, you don't have to worry about that - you're not even paying interest (apart from the millions of pounds worth published in your accounts that is).

And the latest statement re finances and commitment from Lithuania is laughable. It speaks about you owing money to yourselves so it's not really debt, then goes on to say that the group will continue to support Hearts as long is the club goes about things in the correct manner. Souns like to separate entities to me.

To finish, we''re not more intereted in your lot than our own "high flying" club, it's just that when there's a circus in town it's difficult to ignore it.

[Danderhall Hibs]

Then you can just ignore £40M of debt?

Oh I forgot, you don't have to worry about that - you're not even paying interest (apart from the millions of pounds worth published in your accounts that is).



They're not paying any interest.

Just accumulating it. It proves that the board are making no profit out of Hearts.

[Dipped flake]

I think they now accept that they won’t be winning the CL anytime soon and that they won’t be getting in World Cup stars. Or they won’t be paying high wages for any player. They also accept that they need to bring through decent quality young players to give them a couple of years service and then they’ll sell them on.

Pretty much following the Hibs model from a few years back – the one that they ridiculed as having no ambition and called us a “selling club” etc.

Isn’t that right Dipped Flake?

I see you managed to ignore this post Dipped!
On the whole, yes that's what we are now doing so I agree. The main 'fault' I find with the way Hibs have been run over the years though is their total lack of ambition, a thing that many many posters on here have complained about. If, and as far as I can make out despite hundreds of posts about where you are going to sit in your new East stand this is still a big IF, the new stand gets built and your attendances grow to fill it then maybe you might get some ambition. I know that Petrie is a God now but hindsight is a wonderful thing and I remember loads of posts on here slating him and Farmer.

[Peevemor]

They're not paying any interest.

Just accumulating it. It proves that the board are making no profit out of Hearts.

Why does it show up in their accounts then (£1.3M in 2007 and £1.8M in 2008 - that's about £5,000 per day!)?

[poolman]

Quote:
Hearts manager Csaba Laszlo says he's ready to put points before performances as he battles to turn their season around. The Jambos have won just two of their last 10 SPL games - and have gained just 14 points this season. However, with the busy festive schedule coming up, Laszlo admits he's willing to sacrifice good performances to move up the table.


When did this happen exactly :bye:

[Hank Schrader]

On the whole, yes that's what we are now doing so I agree. The main 'fault' I find with the way Hibs have been run over the years though is their total lack of ambition, a thing that many many posters on here have complained about. If, and as far as I can make out despite hundreds of posts about where you are going to sit in your new East stand this is still a big IF, the new stand gets built and your attendances grow to fill it then maybe you might get some ambition. I know that Petrie is a God now but hindsight is a wonderful thing and I remember loads of posts on here slating him and Farmer.

What a lot of patronising and arrogant tripe. :rolleyes:

So I suppose racking up over £30 million worth of debt in order to win a couple of Scottish Cups can be classed as "getting some ambition" as you put it.:blah:

[Woody1985]

On the whole, yes that's what we are now doing so I agree. The main 'fault' I find with the way Hibs have been run over the years though is their total lack of ambition, a thing that many many posters on here have complained about. If, and as far as I can make out despite hundreds of posts about where you are going to sit in your new East stand this is still a big IF, the new stand gets built and your attendances grow to fill it then maybe you might get some ambition. I know that Petrie is a God now but hindsight is a wonderful thing and I remember loads of posts on here slating him and Farmer.

:faf:

You'd better get used to that since Mr Romanov has said that the SPL is pointless and that you will focus on developing young players.

It's taken us years to get to this point. Once all of the foundations are in place it is easier to build on...

Looks like you are going to have to start that process from now in a much worse position than we were.

I'm looking forward to the next few season, not only from a Hibs perspective. :greengrin

[Peevemor]

The main 'fault' I find with the way Hibs have been run over the years though is their total lack of ambition, a thing that many many posters on here have complained about. If, and as far as I can make out despite hundreds of posts about where you are going to sit in your new East stand this is still a big IF, the new stand gets built and your attendances grow to fill it then maybe you might get some ambition. I know that Petrie is a God now but hindsight is a wonderful thing and I remember loads of posts on here slating him and Farmer.

Lack of ambition????

We'll soon have the best football stadium outside Glasgow and, once Vlad's emptied all your 'stars', will probably have the highest player budget outwith the OF.

I'm dissappointed in you DF - I used to think you had a clue. :rolleyes:

[Part/Time Supporter]

Why does it show up in their accounts then (£1.3M in 2007 and £1.8M in 2008 - that's about £5,000 per day!)?

It's like if you lend your brother £500 and charge him 10% interest, instead of him actually physically paying any capital or interest to you, you just say at the end of the year that he now owes you £550.

The problem with this theory is that someone (ie UBIG) down the line has to pay for the money Hearts have been losing (mainly to players). Since they have been getting rid of most of the higher earners, evidently UBIG are not going to continue to sustain the kind of losses Hearts have been encumbering them with in the past. They're still running the club in a cack-handed way and grossly under-performing, however.

[robinp]

Why does it show up in their accounts then (£1.3M in 2007 and £1.8M in 2008 - that's about £5,000 per day!)?

The accountants and auditors were appointed by the previous regime (Anderton) and they are in bed with the SFA, Celtic & Rangers, those numbers are not real and are designed to undermine Mr Romanov?

[Part/Time Supporter]

On the whole, yes that's what we are now doing so I agree. The main 'fault' I find with the way Hibs have been run over the years though is their total lack of ambition, a thing that many many posters on here have complained about. If, and as far as I can make out despite hundreds of posts about where you are going to sit in your new East stand this is still a big IF, the new stand gets built and your attendances grow to fill it then maybe you might get some ambition. I know that Petrie is a God now but hindsight is a wonderful thing and I remember loads of posts on here slating him and Farmer.

£8M on west stand
£5M on training ground

Piss off until you have a clue what you're talking about.

[Hank Schrader]

Piss off until you have a clue what you're talking about.

:agree::top marks

[Peevemor]

It's like if you lend your brother £500 and charge him 10% interest, instead of him actually physically paying any capital or interest to you, you just say at the end of the year that he now owes you £550.

But it remains real debt. Of course they're not physically paying the interest - they can't, but how long will/can UBIG allow this to continue?

[Peevemor]

£8M on west stand
£5M on training ground

Piss off until you have a clue what you're talking about.

There's a hidden message in there isn't there? :greengrin

[silverhibee]

A crisis would be if any of these parties 'queuing up' actually took us to court and got us wound up. As for Soviet-style propaganda, there is at least 1 poster on this board who seems to specialise in stories about Hearts financial problems that never seem to quite come true yet he is regarded as the Messiah by some on here

Nope, just a naughty boy.:wink::greengrin

[lapsedhibee]

But it remains real debt. Of course they're not physically paying the interest - they can't, but how long will/can UBIG allow this to continue?

Shirley Danderhall was posting tongue in cheek? :confused:

[Andy74]

On the whole, yes that's what we are now doing so I agree. The main 'fault' I find with the way Hibs have been run over the years though is their total lack of ambition, a thing that many many posters on here have complained about. If, and as far as I can make out despite hundreds of posts about where you are going to sit in your new East stand this is still a big IF, the new stand gets built and your attendances grow to fill it then maybe you might get some ambition. I know that Petrie is a God now but hindsight is a wonderful thing and I remember loads of posts on here slating him and Farmer.

It's nonsense, and it was when Hibs fans were moaning about it.

It's a long term plan and its beginning to pay off.

There's a difference between ambition and stupidity. Something Hearts fans haven't quite grasped.

I could go out and get a bank loan of £150k and get myself a Ferrari. No real idea of how I can pay it off without losing my house. It's ambitious though eh?!

[matty_f]

On the whole, yes that's what we are now doing so I agree. The main 'fault' I find with the way Hibs have been run over the years though is their total lack of ambition, a thing that many many posters on here have complained about. If, and as far as I can make out despite hundreds of posts about where you are going to sit in your new East stand this is still a big IF, the new stand gets built and your attendances grow to fill it then maybe you might get some ambition. I know that Petrie is a God now but hindsight is a wonderful thing and I remember loads of posts on here slating him and Farmer.

Think you're confusing 'ambition' with 'instant gratification'.

To explain the difference, 'ambition' gets you a paid for and wholly owned training centre (state-of-the art), a near completed modern stadium with excellent facilities. A very, very manageable debt, consistent top 6 finishes, a Cup win, an envied youth set up admired not just in Scotland, but in England too, the capability to sign current internationalists (not the always injured ones) such as former Man United player Liam Miller, former Chelsea player Yves Ma-Kalambay, former Arsenal player Anthony Stokes, former Celtc player Derek Riordan, Morrocan internationalists Zemmama and Benji, Ivory Coast's Sol Bamba...


On the other hand, 'instant gratification' gets you Plan F, 4-5-1 at home to shan teams as well as the good ones, bottom 6, £40m debt, having to cut back massively on your wage bill which STILL won't stop your club losing money hand over fist, a complete inability to finish your stadium, constant sniping and unrest amongst the support, a sole-less parody of a club, Mikey Stewart, Susan the waiter, David Obua, Larrea Kingston, Christian :faf: Nade, Pittenweem, Ian Black :faf:, weekly ridicule from fans of every other SPL side and a constant ripping from the press, red cards galore, the dive-iest team in the league, the dirtiest team in the league, countless games where the scoreline goes 'Yams Nil'....


Hope that clears the matter up for you.:greengrin

[Peevemor]

Shirley Danderhall was posting tongue in cheek? :confused:

Doubt it - he's a bit dolly divven't ye ken. :greengrin

[Big Frank]

£8M on west stand
£5M on training ground

Piss off until you have a clue what you're talking about.



:top marks

He's a typical yam welt.

Over £30,000,000 in debt, but they did win 2 cups:cool2:

he a twat

[SidBurns]

On the whole, yes that's what we are now doing so I agree. The main 'fault' I find with the way Hibs have been run over the years though is their total lack of ambition, a thing that many many posters on here have complained about. If, and as far as I can make out despite hundreds of posts about where you are going to sit in your new East stand this is still a big IF, the new stand gets built and your attendances grow to fill it then maybe you might get some ambition. I know that Petrie is a God now but hindsight is a wonderful thing and I remember loads of posts on here slating him and Farmer.

It's fine you lot TRYING to run the club to break even or as you've said a profit ideally but if you were to break even for say the next 100 years am I right in thinking you'd STILL have £30/40 million of debt plus interest elsewhere!?!

An honest question or three now, are you (a) happy enough the way you lot are being run? (b) Ever been a supporter of Romanov and (c) actually believe the tripe in that email!?!

[1875er]

Sir Larry Kingston I salute you sir... You are a legend and already have my vote for Player of The Year.:thumbsup::thumbsup:

[Peevemor]

he a twat

:redindian: A heap big one at that. :greengrin

[Hank Schrader]

Think you're confusing 'ambition' with 'instant gratification'.

To explain the difference, 'ambition' gets you a paid for and wholly owned training centre (state-of-the art), a near completed modern stadium with excellent facilities. A very, very manageable debt, consistent top 6 finishes, a Cup win, an envied youth set up admired not just in Scotland, but in England too, the capability to sign current internationalists (not the always injured ones) such as former Man United player Liam Miller, former Chelsea player Yves Ma-Kalambay, former Arsenal player Anthony Stokes, former Celtc player Derek Riordan, Morrocan internationalists Zemmama and Benji, Ivory Coast's Sol Bamba...


On the other hand, 'instant gratification' gets you Plan F, 4-5-1 at home to shan teams as well as the good ones, bottom 6, £40m debt, having to cut back massively on your wage bill which STILL won't stop your club losing money hand over fist, a complete inability to finish your stadium, constant sniping and unrest amongst the support, a sole-less parody of a club, Mikey Stewart, Susan the waiter, David Obua, Larrea Kingston, Christian :faf: Nade, Pittenweem, Ian Black :faf:, weekly ridicule from fans of every other SPL side and a constant ripping from the press, red cards galore, the dive-iest team in the league, the dirtiest team in the league, countless games where the scoreline goes 'Yams Nil'....


Hope that clears the matter up for you.:greengrin

:top marks

In fact make that 11/10 Matty.

All the facts laid bare and on a plate for any of the Jambo chumps looking in. Thats about the long and short of it right there you helmets. Read it and weep. :agree:

[Dashing Bob S]

Quote:
Hearts manager Csaba Laszlo says he's ready to put points before performances as he battles to turn their season around. The Jambos have won just two of their last 10 SPL games - and have gained just 14 points this season. However, with the busy festive schedule coming up, Laszlo admits he's willing to sacrifice good performances to move up the table.


When did this happen exactly :bye:

It's a worthy strategy, but it might alienate some of the purists! :faf::faf::faf::faf::faf:

[matty_f]

It's a worthy strategy, but it might alienate some of the purists! :faf::faf::faf::faf::faf:

:tee hee:

[Baader]

If your 'ambition' is to win the Champions League then I guess Hibs suffer from a lack of it.

But we are not saddled with debt. Have our own paid up state of the art training complex and are looking to finalise the last stage of our stadium redevelopment. Hearts meanwhile have put on the backburner replacement plans for a main stand that was built shortly after the First World War.

Oh aye, we are also 15 points ahead of our ambitious neighbours!

[Mikey]

£8M on west stand
£5M on training ground

Piss off until you have a clue what you're talking about.

Post of the day sir.

Can we add the £6.5m for the east or do we have to wait for that? :greengrin

[Hibbie0762]

The main 'fault' I find with the way Hibs have been run over the years though is their total lack of ambition, a thing that many many posters on here have complained about.Oh, Hibs under the STF regime have never lacked ambition, it is just that their objectives are slightly more grounded and long-term than running up an unserviceable multi million mega-debt for a return of precisely one Scottish Cup (against another minor team now down the tubes), serial humpings in the qualifying rounds of Europe, a depleted pool of second-rate players and football to make fans' eyes bleed. That is not ambition, it is insanity.

What exactly is ambitious about a club running its finances into such a shambles that its choices are reduced to flogging off its ground for flats and moving as tenants to a nearby rugby stadium, or getting into bed with a foreign madman who had been hocking his mutton to teams all over Scotland and getting knocked back?

Chickens. To. Home. Roost. Coming. Rearrange into a well-known phrase or saying.

[robinp]

Quote of the year from old Lazlo:


"Larry told me yesterday that he will be injured for the next six or seven weeks. I don't know if he will go away with Ghana, this is a decision for Ghana's football federation."

Hearts players diagnosing their own injuries......well nothing really surprises you with that shower of 5hite! :faf:

[Part/Time Supporter]

Quote of the year from old Lazlo:



Hearts players diagnosing their own injuries......well nothing really surprises you with that shower of 5hite! :faf:

Given the alternatives offered by Romanov (pyjama man, Rima and her sticks (http://www.timesonline.co.uk/tol/news/uk/scotland/article711515.ece?token=null&print=yes&randnum=1151003209000)), one can understand why poor old Larry would want to seek medical advice personally.

:greengrin

[Coco Bryce]

The Club shop should sell green t-shirts with Vlad's face on them, I'd buy one for the upcoming derby.

The man is becoming more of a HIbs legend by the day :thumbsup:

[MrSmith]

:top marks

He's a typical yam welt.

Over £30,000,000 in debt, but they did win 2 cups:cool2:

he a twat

And, who'll remember those cups when there is no club to remind anyone?

[Dipped flake]

It's fine you lot TRYING to run the club to break even or as you've said a profit ideally but if you were to break even for say the next 100 years am I right in thinking you'd STILL have £30/40 million of debt plus interest elsewhere!?!

An honest question or three now, are you (a) happy enough the way you lot are being run? (b) Ever been a supporter of Romanov and (c) actually believe the tripe in that email!?!
Last post on this thread as can't really bothered going over and over the same ground.
a) yes I am now. I was also happy 4 years ago when everything was looking so good. There were a couple of years in the middle where we went mad with the contracts we handed out and are now paying for this, and will be for years to come
b) Yes. Without him Hearts would have died years ago, stuck in a soleless 67,000 seat stadium that we rented.
c) Most of it is just stating what we already knew so yes I believe most of it.

:bye:

[Dashing Bob S]

Last post on this thread as can't really bothered going over and over the same ground.
a) yes I am now. I was also happy 4 years ago when everything was looking so good. There were a couple of years in the middle where we went mad with the contracts we handed out and are now paying for this, and will be for years to come
b) Yes. Without him Hearts would have died years ago, stuck in a soleless 67,000 seat stadium that we rented.
c) Most of it is just stating what we already knew so yes I believe most of it.

:bye:

Dear oh dear!

[lapsedhibee]

And, who'll remember those cups when there is no club to remind anyone?

When the club has finally breathed its last, having given its life in pursuit of those two glorious victories - one over the beastly hun, the other over an interloper from another land, now crushed - there will shirley be a statue of some sort erected nearby, to commemorate the sacrifice. Perhaps surviving yams could congregate there once a year and shed a tear for the commonsenselessness of it all.

[matty_f]

Last post on this thread as I've made an erse of it by mentioning ambition and now look a bit daft.
a) yes I am now. I was also happy 4 years ago when everything was looking so good. There were a couple of years in the middle where we went mad with the contracts we handed out and are now paying for this, and will be for years to come
b) Yes. Without him Hearts would have died years ago, stuck in a soleless 67,000 seat stadium that we rented.
c) Most of it is just stating what we already knew so yes I believe most of it.

:bye:

Fixed that a bit for you.:greengrin

[Woody1985]

It's like if you lend your brother £500 and charge him 10% interest, instead of him actually physically paying any capital or interest to you, you just say at the end of the year that he now owes you £550.

The problem with this theory is that someone (ie UBIG) down the line has to pay for the money Hearts have been losing (mainly to players). Since they have been getting rid of most of the higher earners, evidently UBIG are not going to continue to sustain the kind of losses Hearts have been encumbering them with in the past. They're still running the club in a cack-handed way and grossly under-performing, however.

And then in the second year you pay back 10% on the £550, therefore another £55 interest taking the total to £605.

The year after that you pay the 10% on the £605 meaning you are now due £660.50.

If you had have paid the interest as you went along you would have paid £150 after 3 years rather than the £160.50.

They're actually making more out of them by following that model.

Obviously, that is hypothetical since they are paying interest according to their accounts!

[poolman]

Last post on this thread as can't really bothered going over and over the same ground.
a) yes I am now. I was also happy 4 years ago when everything was looking so good. There were a couple of years in the middle where we went mad with the contracts we handed out and are now paying for this, and will be for years to come
b) Yes. Without him Hearts would have died years ago, stuck in a soleless 67,000 seat stadium that we rented.
c) Most of it is just stating what we already knew so yes I believe most of it.

:bye:

Hope the wave goodbye smilie is a premanent :bye:

[Tyler Durden]

Last post on this thread as can't really bothered going over and over the same ground.
a) yes I am now. I was also happy 4 years ago when everything was looking so good. There were a couple of years in the middle where we went mad with the contracts we handed out and are now paying for this, and will be for years to come
b) Yes. Without him Hearts would have died years ago, stuck in a soleless 67,000 seat stadium that we rented.
c) Most of it is just stating what we already knew so yes I believe most of it.

:bye:

Dipped Flake - it appears Hearts have cut their wage bill significantly in the last few years and will continue to do so. So if reach the stage (which is probably a few years away still) that Hearts are trading at break even........how is the debt ever going to be repaid?

Fair enough the debt may be with UBIG, but they're not going to swap the entire amount for equity (which is probably impossible anyway). Eventually there has to be some amortisation.

The debt will continue to grow with no turnover increase to support it, as the interest is capitalised (effectively becoming debt) as Sergius has clearly admitted.

In simple terms, Hearts have no way back.

[Barney McGrew]

Without him Hearts would have died years ago, stuck in a soleless 67,000 seat stadium that we rented.

Instead, you're sitting in the intensive care unit desperately clinging on to the hope that 'Mr' Romanov doesn't flick the off switch on your life support unit, so you can go back to your ramshackle stadium with the broken main stand which has a safety certificate that's due to run out.

I wish Hibs had that much ambition.

[lapsedhibee]

And then in the second year you pay back 10% on the £550, therefore another £55 interest taking the total to £605.

The year after that you pay the 10% on the £605 meaning you are now due £660.50.

If you had have paid the interest as you go along you would have paid £150 after 3 years rather than the £160.50.

They're actually making more out of them by following that model.

Obviously, that is hypothetical since they are paying interest according to their accounts!

Yamaths alert.

[Danderhall Hibs]

Shirley Danderhall was posting tongue in cheek? :confused:

Indeed - my tongue rarely leaves my cheek when I'm posting on here.


Doubt it - he's a bit dolly divven't ye ken. :greengrin

Also true.

[dangermouse]

I would be happier if it was like it was 4 years ago when we split the OF, won the cup and Qualified for a go at the champions league but that's life. Now we mostly have to rely on our youngsters coming though, hopefully backed up by a couple of decent senior guys. How is this being deluded???? It is accepting the way we are and living with it. I have followed Hearts for nearly 50 years and for most of that time we have relied on rearing most of our own players.

Deluded in the fact you are blindly believing all is well now that the propaganda email says so. Looks like it's back to being :ostrich:

[degenerated]

charlie brown is certainly earning his crust on the thread on brokeback. firefighting of the highest order, if he is getting paid per post for spinning the party line then he's in for a fine festive season.

[Dan Sarf]

I have followed Hearts for nearly 50 years and for most of that time we have relied on rearing most of our own players.

I heard that as well. :greengrin

[Woody1985]

Yamaths alert.

:grr:

I was trying to downplay it :greengrin

In actual fact the new amount would be £665.50 making the situation worse than first thought. Even better.

[Mon Dieu4]

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

Looks like the Yams are not too happy with him and cant even get his name right :faf:

[jacomo]

On the whole, yes that's what we are now doing so I agree. The main 'fault' I find with the way Hibs have been run over the years though is their total lack of ambition, a thing that many many posters on here have complained about. If, and as far as I can make out despite hundreds of posts about where you are going to sit in your new East stand this is still a big IF, the new stand gets built and your attendances grow to fill it then maybe you might get some ambition. I know that Petrie is a God now but hindsight is a wonderful thing and I remember loads of posts on here slating him and Farmer.

Fault?! This is the kind of pish that makes me angry.

You may remember, around 6 or 7 years ago, that Hibs and Hearts were in similar positions - having overspent, both clubs were approaching £20m in debt, with serious doubts about whether they could remain at their home grounds.

We took the decision to pay off our debts, to save ER and save the club. It required many sacrifices - not least, having to see a succession of talented players go out the door, either because we had to sell them, or because we couldn't afford to pay them a competitive salary.

Of course supporters complained about it! All we saw was more player sales and an inability to compete at the top of the SPL.

But, at least we took responsibility for our situation and did something about it. The Yams, on the other hand, just begged for the next sugar daddy to continue feeding them sweeties.

Now, finally, Hibs are through the worst, and can look ahead with some confidence. And you have the cheek to criticise our ambition?!

One day, Hearts will have to pay back their debts... and because they've doubled since 2003, the pain will be twice as bad.

Don't worry, I'll be sure to query your level of "ambition" then.

[dangermouse]

Last post on this thread as can't really bothered going over and over the same ground.
a) yes I am now. I was also happy 4 years ago when everything was looking so good. There were a couple of years in the middle where we went mad with the contracts we handed out and are now paying for this, and will be for years to come
b) Yes. Without him Hearts would have died years ago, stuck in a soleless 67,000 seat stadium that we rented.
c) Most of it is just stating what we already knew so yes I believe most of it.

:bye:

I was right the first time, deluded.

By the way, I know Murrayfield may not be the best venue for the beautiful game but to compare it to an unfinished shoe is a bit much.

[Danderhall Hibs]

I was right the first time, deluded.

By the way, I know Murrayfield may not be the best venue for the beautiful game but to compare it to an unfinished shoe is a bit much.

:hilarious

[Jack]

Well done to Dipped Flake for coming on here and giving us his view, showed more baws than any of the other maroon barons that come here. A bit disappointed that he seems to have been suckered in where I was of the belief he was a bit more independent in thought from the masses than that. Never mind!

Neither am I surprised he’s run away – lets face it if he replied to every post that quoted him it would have taken him days!

[Viva_Palmeiras]

http://edinburghnews.scotsman.com/sport/Larry-Kingston-tells-Hearts-boss.5915907.jp

The boy is a legend. His brass neck knows no limits...

[Jonnyboy]

http://edinburghnews.scotsman.com/sport/Larry-Kingston-tells-Hearts-boss.5915907.jp

Not so much a hamstring as a ham actor. How come he diagnoses his own injury and length of absence? Have Hertz not got a physio? Guy's a chancer of the highest order IMO

[sam armstrong]

We paid huge salaries in an effort to catch the OF. We managed that, well splitting them, but couldn't sustain it. It took another year or so before Vlad realised this and we are now paying the price. As far as Kingston is concerned he is certainly no numpty as a player but he is forever 'injured' so no use to us.

Your avatar should read DIPPIT FLAKE

[Phil D. Rolls]

And, who'll remember those cups when there is no club to remind anyone?

Ask a Vale of Leithen or Renton fan (I'm sure they were early SC winners) or fans of the Royal Engineers.


charlie brown is certainly earning his crust on the thread on brokeback. firefighting of the highest order, if he is getting paid per post for spinning the party line then he's in for a fine festive season.

Good grief!


I drove past Starks Park today, Rovers are sitting well up the first division. A few years ago it looked like it had all gone tits up for them. The lesson for the Yams has to be - stop delaying the inevitable. Take the hit, face up to climbing back up the leagues from Division Three, and stop kidding yourselves on that: a) you are not in serious serious trouble;and b) that you are to massive a team to go down.

[Sergey]

Think you're confusing 'ambition' with 'instant gratification'.

To explain the difference, 'ambition' gets you a paid for and wholly owned training centre (state-of-the art), a near completed modern stadium with excellent facilities. A very, very manageable debt, consistent top 6 finishes, a Cup win, an envied youth set up admired not just in Scotland, but in England too, the capability to sign current internationalists (not the always injured ones) such as former Man United player Liam Miller, former Chelsea player Yves Ma-Kalambay, former Arsenal player Anthony Stokes, former Celtc player Derek Riordan, Morrocan internationalists Zemmama and Benji, Ivory Coast's Sol Bamba...


On the other hand, 'instant gratification' gets you Plan F, 4-5-1 at home to shan teams as well as the good ones, bottom 6, £40m debt, having to cut back massively on your wage bill which STILL won't stop your club losing money hand over fist, a complete inability to finish your stadium, constant sniping and unrest amongst the support, a sole-less parody of a club, Mikey Stewart, Susan the waiter, David Obua, Larrea Kingston, Christian :faf: Nade, Pittenweem, Ian Black :faf:, weekly ridicule from fans of every other SPL side and a constant ripping from the press, red cards galore, the dive-iest team in the league, the dirtiest team in the league, countless games where the scoreline goes 'Yams Nil'....


Hope that clears the matter up for you.:greengrin

Bravo!!

[Caversham Green]

charlie brown is certainly earning his crust on the thread on brokeback. firefighting of the highest order, if he is getting paid per post for spinning the party line then he's in for a fine festive season.

There's a serious amount of misinfomation going on over there and in the original email. For example, 'it shows that the owners are not profiting from the club' - :fibber: as already mentioned the interest is recorded in the yam accounts as a cost and increase in debt. It is shown in the lenders' accounts as income (i.e. profit) and an increase in assets. The fact that no cash is changing hands is purely because the yams don't have any. The idea that Vlad is only charging interest to himself actually means that he is moving value out of his "football" operations for use in his other activities. If he was serious about looking after the club he'd simply waive the interest charge.

On another note, by my rough calculations if the Yams were to start following the Hibs model from the last five years, including the sale of players, it would take them about 25 years to get to where we are. Except they would still have their old stand and their lease on the school playing fields/changing hut would have expired.

[SidBurns]

More priceless stuff from another forum, GENIUS:-

Okay I know what kinda reaction this post is gonna have and I'm expecting plenty stick for it but I'm still of the mind that Romanov's the way to go for my club.
First of let me say I've been going to watch Hearts since the early sixties and in that time I've seen relegations, trophies, takeover bids, fan revolts, stadium reconstruction,big crowds/small crowds, exciting players, dud players and everything else that comes with being a Hearts fan.
We are NO WORSE OFF right now than at any other time in my supporting life.
I loved it when Wallace Mercer was here, pre him we were run by a succession of faceless unambitious boards so he was a breath of fresh air.
Chris Robinson (although winning the cup in 98 on his watch) was for me a weak and destructive owner and I'd ask all fans to remember how happy we were when he went.
Romanov is certainly not perfect by any means but I think as a CLUB we are now in a decent position, the debt is historical and I'm convinced manageable by this owner, the playing squad is more than capable of holding it's own in the Scottish game, the commercial side of the business is robust and more forward thinking than I've ever known it, the infrustucture at Riccarton is healthy and the youth development is working.
The TEAM however at the moment is the issue and when alls said and done that's down to the management/coaching staff and whilst it's the most immediate and focused part of what we judge our club by we CAN'T blame Vlad for this seasons performances/team selections.
In short the clubs working, the team aint,
BELIEVE
I'm now going to go and put my hard hat on

Surely one of us on a windup!?!?!?!

[lapsedhibee]

There's a serious amount of misinfomation going on over there and in the original email. For example, 'it shows that the owners are not profiting from the club' - :fibber: as already mentioned the interest is recorded in the yam accounts as a cost and increase in debt. It is shown in the lenders' accounts as income (i.e. profit) and an increase in assets. The fact that no cash is changing hands is purely because the yams don't have any. The idea that Vlad is only charging interest to himself actually means that he is moving value out of his "football" operations for use in his other activities. If he was serious about looking after the club he'd simply waive the interest charge.

:agree:

:singing: Springtime for Hitler, and Germanee :singing:

[StevieC]

Your club is £30m in debt on a turnover of £10m.You are insolvent and in any other line of business would be declared bankrupt.Romanov is putting off the day when you have to start paying it back but it will have to be paid back.Do you think romanov will write off £20m out the goodness of his heart.

Firstly, I suspect that it is now well above £30m.

The situation appears to be that there are not enough assets to cover the debts. This means that at some point in the future Vlad (or the bank) will HAVE to write off the debt, they'd have no choice.

I get the impression that they are simply piling the debt up as they know that it's eventually going to end up unpaid anyway. What they will be doing in the meantime is trying to filter any sort of income (gate receipts, transfer money, etc.) elsewhere so that they can at least get something out of this at the end of it.

Vlad has already started to make the cut backs and it looks unlikely that there will be any investment in the team so it looks like the end game for the Jambo's regarding World Domination. Whilst there are players at Tynecastle that might actually be worth anything then I think Vlad will stick it out a bit longer but once these assets are gone then I cant see what there is left for him.

As far as I can see, the biggest stumbling block for Vlad appears to be getting his hands on the land that Tynecastle sits on. It may well be that he will take his chances with administration in the hope that the owner of the huge debt gets dibs on it. One option might be to sell it on the quiet the week before the club goes into liquidation.

[greenginger]

Was it not about this time last year Campbell Ogilvie did a piece in the Scotsman about Hearts finances and how good the figures were going to be given player sales and the debt/equity swap.
There was even a poll on here to guess their debt. I don't think many guessed/hoped it would be over £30 million given the hyping by C. O.
I wonder if they take it in turns to make a complete A*se of themselves and its Feditoadis's turn

If UBIG is supporting them what is making money for UBIG. Their website list their interests as

Property and Real Estate - Everything still on the drawing board, the Russian Development sold two years ago.

Industrials - Birac a financial disaster
Mining in a war zone

Finance - Balkan Bank, Bosnia is as bad as Lithuania.

Tourism - A small hotel on the Baltic Sea and a mini-bus hire firm.


Nothing makes money as far as I can see unless Vlad is just shy about his real money earners !!!!

Can some one not take a trip to Lithland and get the real deal with UBIG.

[proud_and_green]

UBIG offered a 'funding-for-equity' deal previously to reduce the club's debt by £12m in July 2007, do you think this would be an option again in the future?
Yes. At present we are considering and assessing plans for a further funding-for-equity deal which is realistic.

I don't understand this, surely equity represents ownership. How can they take more equity in something they already own?

[Dashing Bob S]

More priceless stuff from another forum, GENIUS:-

Okay I know what kinda reaction this post is gonna have and I'm expecting plenty stick for it but I'm still of the mind that Romanov's the way to go for my club.
First of let me say I've been going to watch Hearts since the early sixties and in that time I've seen relegations, trophies, takeover bids, fan revolts, stadium reconstruction,big crowds/small crowds, exciting players, dud players and everything else that comes with being a Hearts fan.
We are NO WORSE OFF right now than at any other time in my supporting life.
I loved it when Wallace Mercer was here, pre him we were run by a succession of faceless unambitious boards so he was a breath of fresh air.
Chris Robinson (although winning the cup in 98 on his watch) was for me a weak and destructive owner and I'd ask all fans to remember how happy we were when he went.
Romanov is certainly not perfect by any means but I think as a CLUB we are now in a decent position, the debt is historical and I'm convinced manageable by this owner, the playing squad is more than capable of holding it's own in the Scottish game, the commercial side of the business is robust and more forward thinking than I've ever known it, the infrustucture at Riccarton is healthy and the youth development is working.
The TEAM however at the moment is the issue and when alls said and done that's down to the management/coaching staff and whilst it's the most immediate and focused part of what we judge our club by we CAN'T blame Vlad for this seasons performances/team selections.
In short the clubs working, the team aint,
BELIEVE
I'm now going to go and put my hard hat on

Surely one of us on a windup!?!?!?!

With stooges like that around, Romanov can sit back in Lithuania and watch as many basketball games as he likes.

[davym7062]

Please point out what we are doing NOW that so amuses you

getting humped every week:faf:

[StevieC]

One day, Hearts will have to pay back their debts... and because they've doubled since 2003, the pain will be twice as bad.

How? They wont ever be able to pay back that debt. Their only hope would be some Jambo supporting billionaire that was willing to provide them with a £50m gift some time within the next 2 years.

Unfortunately Ronnie Corbett wont be able to fit in enough "Christmas Specials" in such a short space of time!

[Caversham Green]

UBIG offered a 'funding-for-equity' deal previously to reduce the club's debt by £12m in July 2007, do you think this would be an option again in the future?
Yes. At present we are considering and assessing plans for a further funding-for-equity deal which is realistic.

I don't understand this, surely equity represents ownership. How can they take more equity in something they already own?

Hearts would be creating new shares and 'selling' them to UBIG, but instead of money changing hands UBIG would just reduce the amount Hearts owed them. UBIG would not benefit in any way because they already own Hearts and the increase in the investment value would be counteracted by the reduction in debtors in their balance sheet.

The bottom line is that it is a write off of the debt - doing it once was an admission that phase 1 of the investment plan had failed, doing it a second time would confirm my growing belief that Vlad is either a useless businessman or he is up to something. If he was to swap the whole of the £17.6m due in February, he would have thrown nearly £30m at Hearts to leave them in a similar state to where they were when he bought them.

STF did a similar exercise when he sold ER back to Hibs for £2.5m cash and £3.5m shares. The big difference is that Hibs are in a much better state as a result of this, so his investment was not really lost.

[jacomo]

How? They wont ever be able to pay back that debt. Their only hope would be some Jambo supporting billionaire that was willing to provide them with a £50m gift some time within the next 2 years.

Unfortunately Ronnie Corbett wont be able to fit in enough "Christmas Specials" in such a short space of time!

No, you're right.

What I meant to say is, at some point Hearts are going to have to pay...

As their debts now exceed the value of everything the club owns, this would mean administration or liquidation, unless another mug is found to put in some money.

[Phil D. Rolls]

:agree:

:singing: Springtime for Hitler, and Germanee :singing:

It's another Bialystock and Bloom Blockbuster!

[Hibercelona]

:faf: :hilarious :rotflmao: :lolyam: :jamboclow
























Actually, I never even read the OP or any of the posts for that matter. When I see the words Hearts/Yams in a thread title, I already know it's going to be funny. :agree:

[EskbankHibby]

No, you're right.

What I meant to say is, at some point Hearts are going to have to pay...

As their debts now exceed the value of everything the club owns, this would mean administration or liquidation, unless another mug is found to put in some money.

This is what i find absolutely staggering about the jambos in general but specifically their response to this latest bit of "we owe money to ourselves" propaganda.

Their 'unique funding structure' does not detract from the fact that wages (sometimes) have to be paid for playing and administrative staff, hotel bills, consumables (big macs etc), police/stewarding and all the rest.

SOMEONE has to pay them and we are led to believe that Vlad or his companies are doing just that, fair do's, i'll run with that, one question though - why?

Why would a businessman from abroad accrue huge debts to service a club he frankly has no interest in? A person who has captained a submarine no less and a successful businessman to boot, why would he or his companies continue to shore up this loss making behemoth that is HOMFC.

Possibly he has a huge emotional attachment to them.................like he had with Kaunas.

I have decent, intelligent jambo pals (seriously) who still buy into this p1sh, too scared to stop and ask relevant questions. Romanov will have an agenda and it is absurd to suggest that it will be in Hearts best interests.

[Phil D. Rolls]

I have decent, intelligent jambo pals (seriously) who still buy into this p1sh, too scared to stop and ask relevant questions. Romanov will have an agenda and it is absurd to suggest that it will be in Hearts best interests.

This is not the same thing, by any stretch of the imagination, but......

Did all those people getting on the trains to Belsen and Auschwitz really believe that they were going to a work camp? When they were told to go for a shower did they really think that was what was happening?

They must have heard the rumours about what was going on, discussed them in the cattle trucks as they were transported. Yet when it came to the bit there was no stampeding, they went quietly and in an orderly fashion.

Just like the Nazis were able to convinve people of the seemingly impossible, the likes of Vlad seems to have managed to control another group of petrified people. They are so desperate now that they will believe any good news they are fed.

Denial is an important part of the minds defences. I know this might sound a distasteful comparison, but I think it is an insight as to how people behave in groups.

[lapsedhibee]

Vlad seems to have managed to control another group of petrified people. They are so desperate now that they will believe any good news they are fed.

Petrification! :grr: Get it sorted!

[Phil D. Rolls]

Petrification! :grr: Get it sorted!

Only a heart of stone could laugh at the Yams just now.

[jgl07]

Some yam on kickback checked their accounts from last year and it had an item headed 'interest' of £2.248Million.

So how does this translate into not paying interest exactly?
Well there was probably also a provision for tax liability.

And they are not paying that either!

[jacomo]

Why would a businessman from abroad accrue huge debts to service a club he frankly has no interest in?

Who knows?

But we'll find out one day, whether Vlad is a fool or an evil genius. Either way, it won't be a good news day in Yamland. Tick tock.

[mjhibby]

This is what i find absolutely staggering about the jambos in general but specifically their response to this latest bit of "we owe money to ourselves" propaganda.

Their 'unique funding structure' does not detract from the fact that wages (sometimes) have to be paid for playing and administrative staff, hotel bills, consumables (big macs etc), police/stewarding and all the rest.

SOMEONE has to pay them and we are led to believe that Vlad or his companies are doing just that, fair do's, i'll run with that, one question though - why?

Why would a businessman from abroad accrue huge debts to service a club he frankly has no interest in? A person who has captained a submarine no less and a successful businessman to boot, why would he or his companies continue to shore up this loss making behemoth that is HOMFC.

Possibly he has a huge emotional attachment to them.................like he had with Kaunas.

I have decent, intelligent jambo pals (seriously) who still buy into this p1sh, too scared to stop and ask relevant questions. Romanov will have an agenda and it is absurd to suggest that it will be in Hearts best interests.

I think that some as so deluded as to actually believe any pash that ripemov says.The sane ones(well relatively speaking) just dont want to face up to the reality of the financial situation and just shrug their shoulders and say everybody is in the same boat.Thats hibs £3.2m debt hertz £30m.Yep all in the same boat.Delusion or ignorance of breathtaking proportions.They are beyond parody now.

[Phil D. Rolls]

Who knows?

But we'll find out one day, whether Vlad is a fool or an evil genius. Either way, it won't be a good news day in Yamland. Tick tock.

:hmmm: I'm starting to wonder if he really does care about them.

[hibbybrian]

:hmmm: I'm starting to wonder if he really does care about them.

I'm sure he cares about them just as much as you and I do :greengrin

[Kato]

here we go again. You lot have a team that is flying high at the moment but all you seem to be bothered about is our debt/administration/ etc. Have been on this board for a couple of years now and you could just cut and paste threads from the last 2 years to save everybody the bother of typing in these 'new' threads. On the subject of the email that we all got sent I took it as good news in that the fans have been asking the club for information and we got it. Most of it is just repeating what we have known all along; our 'debt' is held by the company we are part of so we don't have someone breaking our doors down for payment.
As I have stated on here numerous times our club is being run sensibly now. High wage earners are kicked out if we can sell them or when their contracts run out. Vlad has stated many times in the last couple of years that we have to bring through our youngsters on much lower wages than we paid in the past (ludicrously high ones I admit). Performances on the park have suffered and will continue to do so for a while but that's just life.

Snork.:faf:

[Kato]

Last post on this thread as can't really bothered going over and over the same ground.
a) yes I am now. I was also happy 4 years ago when everything was looking so good. There were a couple of years in the middle where we went mad with the contracts we handed out and are now paying for this, and will be for years to come
b) Yes. Without him Hearts would have died years ago, stuck in a soleless 67,000 seat stadium that we rented.
c) Most of it is just stating what we already knew so yes I believe most of it.

:bye:


Snorky snork.:faf:

[blackpoolhibs]

5281

[Phil D. Rolls]

Snorky snork.:faf:

:top marks

[jakedance]

The usual propoganda from Hearts followed by the usual prophosies of doom from us and a game Jambo defending the indefendable. Meantime Hearts still exist.

I like laughing at the misfortune of our neebors as much as the next man but their iminent demise gets tiresome after a while. It's like Christmas eve every day and Santa never comes. Wake me up when something happens.

[Caversham Green]

Only a heart of stone could fail to laugh at the Yams just now.

Fixed that for you.

[Pedantic_Hibee]

F.*.*.k 'em :greengrin

[Mibbes Aye]

Think you're confusing 'ambition' with 'instant gratification'.

To explain the difference, 'ambition' gets you a paid for and wholly owned training centre (state-of-the art), a near completed modern stadium with excellent facilities. A very, very manageable debt, consistent top 6 finishes, a Cup win, an envied youth set up admired not just in Scotland, but in England too, the capability to sign current internationalists (not the always injured ones) such as former Man United player Liam Miller, former Chelsea player Yves Ma-Kalambay, former Arsenal player Anthony Stokes, former Celtc player Derek Riordan, Morrocan internationalists Zemmama and Benji, Ivory Coast's Sol Bamba...


On the other hand, 'instant gratification' gets you Plan F, 4-5-1 at home to shan teams as well as the good ones, bottom 6, £40m debt, having to cut back massively on your wage bill which STILL won't stop your club losing money hand over fist, a complete inability to finish your stadium, constant sniping and unrest amongst the support, a sole-less parody of a club, Mikey Stewart, Susan the waiter, David Obua, Larrea Kingston, Christian :faf: Nade, Pittenweem, Ian Black :faf:, weekly ridicule from fans of every other SPL side and a constant ripping from the press, red cards galore, the dive-iest team in the league, the dirtiest team in the league, countless games where the scoreline goes 'Yams Nil'....


Hope that clears the matter up for you.:greengrin

Outstanding post Matty :agree:

One day it will all come to an end for the yams - you can't be squillions in debt, spending far more than you earn year on year, under the control of someone who will liquidate you at any point it makes sense, for ever :bitchy:

I will be sad when that day comes though, because I've loved every single administration thread, every single 'wages unpaid' thread, every single 'creditors taking them to court' thread :agree:

There is much about Scottish football that is intrinsically funny, but nothing in my lifetime has compared to this. I suspect my children and my childrens' children won't have anything close either.

Bless 'em. The greatest comedy show on earth and still going strong.

[Spike Mandela]

Hearts would be creating new shares and 'selling' them to UBIG, but instead of money changing hands UBIG would just reduce the amount Hearts owed them. UBIG would not benefit in any way because they already own Hearts and the increase in the investment value would be counteracted by the reduction in debtors in their balance sheet.

The bottom line is that it is a write off of the debt - doing it once was an admission that phase 1 of the investment plan had failed, doing it a second time would confirm my growing belief that Vlad is either a useless businessman or he is up to something. If he was to swap the whole of the £17.6m due in February, he would have thrown nearly £30m at Hearts to leave them in a similar state to where they were when he bought them.

STF did a similar exercise when he sold ER back to Hibs for £2.5m cash and £3.5m shares. The big difference is that Hibs are in a much better state as a result of this, so his investment was not really lost.

Surely even Vlad wouldn't be foolish enought to write off £30m on a mid table Scottish Premier League club Cav:confused:

[Kevvy1875]

Who?..... like me is skint for Christmas? When I say skint what I actually mean is due to the spending I am gonna have to do, then I will be uber-skint from early january onwards. Christmas, New Year, Match day beverage money, Mortgage, Bills....etc, etc, etc.

Well.......instead of worrying for the next few weeks how I am going to get through January I am going to simply "lend myself" a few quid to tide me over.

Now I can't take full credit for this full-proof scam(read about the idea somewhere, can't remember now) but I recommend you all try it if you fall on hard times this festive season.

I will be spending my "money I owe myself" on a new sandpit for my wee boy......have this nagging feeling it may come in handy round about mid-jan:cool2:

[iwasthere1972]

Who?..... like me is skint for Christmas? When I say skint what I actually mean is due to the spending I am gonna have to do, then I will be uber-skint from early january onwards. Christmas, New Year, Match day beverage money, Mortgage, Bills....etc, etc, etc.

Well.......instead of worrying for the next few weeks how I am going to get through January I am going to simply "lend myself" a few quid to tide me over.

Now I can't take full credit for this full-proof scam(read about the idea somewhere, can't remember now) but I recommend you all try it if you fall on hard times this festive season.

I will be spending my "money I owe myself" on a new sandpit for my wee boy......have this nagging feeling it may come in handy round about mid-jan:cool2:

As Chris Tarrant would say - Is it just me? :confused:

[Kevvy1875]

Mental note to one's self: Do not post any more attempts at humour until at least 5000+ posts.

[SolentHibee]

Don't worry mate. I understood you, including the :ostrich: reference:wink:

[Caversham Green]

Surely even Vlad wouldn't be foolish enought to write off £30m on a mid table Scottish Premier League club Cav:confused:

That's my point Spike. He's already effectively written off the £12m - that would be excusable if it actually improved his investment (as STF did with Hibs), but it didn't. He/the yams now have to find another £17.6m in the next 7 weeks and there are suggestions that he might do the debt for equity thing again. I don't think he will, but if he does he's a numpty.

[Caversham Green]

Who?..... like me is skint for Christmas? When I say skint what I actually mean is due to the spending I am gonna have to do, then I will be uber-skint from early january onwards. Christmas, New Year, Match day beverage money, Mortgage, Bills....etc, etc, etc.

Well.......instead of worrying for the next few weeks how I am going to get through January I am going to simply "lend myself" a few quid to tide me over.

Now I can't take full credit for this full-proof scam(read about the idea somewhere, can't remember now) but I recommend you all try it if you fall on hard times this festive season.

I will be spending my "money I owe myself" on a new sandpit for my wee boy......have this nagging feeling it may come in handy round about mid-jan:cool2:

The trouble is, I already owe myself a huge amount and I can no longer afford the interest I'm charging myself. The first thing I'll do when I get some money is pay myself off. That way I'll be able to lend myself some more and all will be well.

I'm going to give myself some money for Christmas so that I can do that.

[Phil D. Rolls]

The usual propoganda from Hearts followed by the usual prophosies of doom from us and a game Jambo defending the indefendable. Meantime Hearts still exist.

I like laughing at the misfortune of our neebors as much as the next man but their iminent demise gets tiresome after a while. It's like Christmas eve every day and Santa never comes. Wake me up when something happens.

I think they are in a bigger mess now than when we first started laughing at them. It's the slow decline that is so funny. It's watching them stand by helpless. It's knowing that this is what we said would happen.


Who?..... like me is skint for Christmas? When I say skint what I actually mean is due to the spending I am gonna have to do, then I will be uber-skint from early january onwards. Christmas, New Year, Match day beverage money, Mortgage, Bills....etc, etc, etc.

Well.......instead of worrying for the next few weeks how I am going to get through January I am going to simply "lend myself" a few quid to tide me over.

Now I can't take full credit for this full-proof scam(read about the idea somewhere, can't remember now) but I recommend you all try it if you fall on hard times this festive season.

I will be spending my "money I owe myself" on a new sandpit for my wee boy......have this nagging feeling it may come in handy round about mid-jan:cool2:

Just taken your advice and I am about to fly off to Majorca on FlyGlobespan! Happy Holidays!

[Jack]

One of my mates is a Queen of the South supporter and along with a couple of other non-Hahahearts supporting pals was among the second largest ever crowd in Edinburgh for a football match; Barcelona Vs Hahahearts, a couple of years ago.

Among the details he was required to give was his email address and you'll never guess what? He receives the ‘Dear supporters’ letters on a regular basis, and in between bouts of laughter (he’s an accountant and company lawyer with international merger and take over experience) told me about this one!

His final comment was that there is no option to unsubscribe; which on the one hand was he thought was a bit naughty but on the other he gets a hahahearty hoot every now and again.

I wonder if all the neutral support at that game have been included in the mythical 400,000 yams? Although I had a sneaking feeling the 400,000 figure was mentioned before that game so maybe it should now be a mythical 450,000. I think the Hahahearts media machine has maybe missed that!

[iwasthere1972]

Mental note to one's self: Do not post any more attempts at humour until at least 5000+ posts.


Looks like I was the only one who didn't get your joke. Sorry about that. Thought it may have been a dig at the Yams but wasn't too sure.

Mental note to me - Get a sense of humour for Christmas. :cool2:

[dangermouse]

Hearts would be creating new shares and 'selling' them to UBIG, but instead of money changing hands UBIG would just reduce the amount Hearts owed them. UBIG would not benefit in any way because they already own Hearts and the increase in the investment value would be counteracted by the reduction in debtors in their balance sheet.

The bottom line is that it is a write off of the debt - doing it once was an admission that phase 1 of the investment plan had failed, doing it a second time would confirm my growing belief that Vlad is either a useless businessman or he is up to something. If he was to swap the whole of the £17.6m due in February, he would have thrown nearly £30m at Hearts to leave them in a similar state to where they were when he bought them.

STF did a similar exercise when he sold ER back to Hibs for £2.5m cash and £3.5m shares. The big difference is that Hibs are in a much better state as a result of this, so his investment was not really lost.

Debt for equity swap! Would Tynecastle be the equity? Title deeds heading East?

[Nailrod]

Mental note to one's self: Do not post any more attempts at humour until at least 5000+ posts.

Nah it was bloody funny mate.


Debt for equity swap! Would Tynecastle be the equity? Title deeds heading East?
The deeds for tiny headed east years ago along with the rights to any revenues from player sales.

Funniest thing is that compared with the rest of USMALL's priceless investment portfolio - a mothballed pre-war aluminium smelter, a derelict landfill site populated by crumbling hulks and old washing machines, an enormous pile of rusty washers that Vlad bought on the clear understanding that they were a fortune in golden Ghanaian Cedis... - Hertz might actually be the jewel in the crown.

After all, Tiny does generate about ten grand in actual cash from walk-ups every couple of weeks (the seaso income having been squandered months ago). While this barely scratches the surface of USMALL's appalling liquidity problems, it does allow Vlad to hoy off down to the Sunnee Bigboy Smackbuttock Sauna on the Zygimantu Gatve waving a bunch of fivers and shouting "Look at me! I've got loadsamoney me!"

[Danderhall Hibs]

The trouble is, I already owe myself a huge amount and I can no longer afford the interest I'm charging myself. The first thing I'll do when I get some money is pay myself off. That way I'll be able to lend myself some more and all will be well.

I'm going to give myself some money for Christmas so that I can do that.

You’re an accountant aren’t you?

Isn’t it the case that they’ve used the “we’re only owe ourselves money” line to speak in KB language and to make it clear to thickos?

In effect they aren’t due anyone any money – the £30m "loss" will be recorded under the UBIG/Ukio/Hearts group of companies. The “debt” isn’t due to anyone outwith that group (as far as I know) so actually they’re not going to go bust anytime soon?

So for all those saying they’re going to lend themselves money – where are you going to get it from in the 1st place to lend it to yourself? It seems to me that Hearts just go and tap their (U)big brother whenever they need it – so it’s actual money being transferred inter-company.

Or am I wrong? Over to the “Hoboconomists” to clear this up…

[Part/Time Supporter]

You’re an accountant aren’t you?

Isn’t it the case that they’ve used the “we’re only owe ourselves money” line to speak in KB language and to make it clear to thickos?

In effect they aren’t due anyone any money – the £30m "loss" will be recorded under the UBIG/Ukio/Hearts group of companies. The “debt” isn’t due to anyone outwith that group (as far as I know) so actually they’re not going to go bust anytime soon?

So for all those saying they’re going to lend themselves money – where are you going to get it from in the 1st place to lend it to yourself? It seems to me that Hearts just go and tap their (U)big brother whenever they need it – so it’s actual money being transferred inter-company.

Or am I wrong? Over to the “Hoboconomists” to clear this up…

All true, but the problem is that UBIG has to get the money from somewhere. As long as UBIG is making a healthy profit on its other activities and Romanov wants to continue subsidising Hearts, their results aren't a problem. I don't think it's a coincidence that Hearts' financial problems last autumn (ie not paying wages) surfaced at the same time as the Birac aluminium plant shut down.

As for the anology about folk lending themselves money, it would be more accurate to compare it with (say) a student sponging off their parents. ie as long as the parents are in work and are willing to subsidise their kid's lifestyle it isn't a problem, but if dad loses his well paid job then said kid will have to stack shelves or pull pints part time.

[Peevemor]

You’re an accountant aren’t you?

Isn’t it the case that they’ve used the “we’re only owe ourselves money” line to speak in KB language and to make it clear to thickos?

In effect they aren’t due anyone any money – the £30m "loss" will be recorded under the UBIG/Ukio/Hearts group of companies. The “debt” isn’t due to anyone outwith that group (as far as I know) so actually they’re not going to go bust anytime soon?

So for all those saying they’re going to lend themselves money – where are you going to get it from in the 1st place to lend it to yourself? It seems to me that Hearts just go and tap their (U)big brother whenever they need it – so it’s actual money being transferred inter-company.

Or am I wrong? Over to the “Hoboconomists” to clear this up…

Your right, the real problem for HoMoFC will be when either;

1. Vlad gets fed up chucking money at them and pulls the plug, or

2. Vlad/UBIG/UKIO find themselves unable to bail Hearts out. If for example the football club has a big tax bill to settle, but it coincides with the parent company being strapped for readies, then things will become interesting.

[Part/Time Supporter]

Your right, the real problem for HoMoFC will be when either;

1. Vlad gets fed up chucking money at them and pulls the plug, or

2. Vlad/UBIG/UKIO find themselves unable to bail Hearts out. If for example the football club has a big tax bill to settle, but it coincides with the parent company being strapped for readies, then things will become interesting.

It's worth noting in this context that Vlad has pulled funding from FBK Kaunas, hence why they are now playing in the Lithuanian 3rd division. He evidently had a breaking point in terms of funding that club, it's not as if he has a bottomless pit (unlike Abramovich, for example).

[greenginger]

There seems to be some confusion between the two, especially on Kickback.

Ukio Bankas is a public company with many hundreds of share holders, all be it that Vlad is the largest at nearly 33%. Hearts are due to repay this Bank £17 million in February or agree a re-financing deal with them.
There is no way a debt/equity deal could be used to remove this debt.

Ukio Bankas hold a 6% stake in UBIG and has lent them a huge wad of cash, so much so, UBIG and Hearts can't be mearged as their joint debt is a greater percentage of Ukio Bankas total lending than is pemitted under Lith. Banking law.

UBIG is a private company and owns about 98% of Hearts share and can do what it wants with the Club and its assets but I don't think it can do anything about the £17 million.

Even in the language of Yamonomics this debt is not due to themselves but to the depositors ( mugs ) in Ukio Bankas and lenders (even bigger mugs ) to the Bank.

Interest is piling up on this debt which is real and will have to be accounted for one day soon. :bye: :bye: :bye:

[Kato]

There seems to be some confusion between the two, especially on Kickback.

Ukio Bankas is a public company with many hundreds of share holders, all be it that Vlad is the largest at nearly 33%. Hearts are due to repay this Bank £17 million in February or agree a re-financing deal with them.
There is no way a debt/equity deal could be used to remove this debt.

Ukio Bankas hold a 6% stake in UBIG and has lent them a huge wad of cash, so much so, UBIG and Hearts can't be mearged as their joint debt is a greater percentage of Ukio Bankas total lending than is pemitted under Lith. Banking law.

UBIG is a private company and owns about 98% of Hearts share and can do what it wants with the Club and its assets but I don't think it can do anything about the £17 million.

Even in the language of Yamonomics this debt is not due to themselves but to the depositors ( mugs ) in Ukio Bankas and lenders (even bigger mugs ) to the Bank.

Interest is piling up on this debt which is real and will have to be accounted for one day soon. :bye: :bye: :bye:

So all, or something, or nothing will be revealed in February.

Roll on February.

[matty_f]

So all, or something, or nothing will be revealed in February.Roll on February.

You can put your house on it.:agree:

[SolentHibee]

Plenty people on here explaining much of the convoluted shenanigans from Vlad and the general weakness of the bank etc. and I thank you for that. Threads about yams and our stadium-building intentions are giving me a right warm feeling inside.

I know that this could be a slow fuse on the Big Bomb of Yamoblivion but does the fact that they and UKIO/UBIG seem to have survived so far in difficult times imply that they will scrape through? If things were as bad as we think wouldn't it have been done and dusted by now?

I only say this as by all logic UKIO/UBIG should have pulled the plug ages ago but they haven't. There has to be a reason that they have not done so - I still get a pain in my head trying to figure out what Vlad gets out of this. I know we can all talk about laundering money and raking in interest payments but I don't see how any of that income can keep up with the losses they are making.

[Woody1985]

You’re an accountant aren’t you?

Isn’t it the case that they’ve used the “we’re only owe ourselves money” line to speak in KB language and to make it clear to thickos?

In effect they aren’t due anyone any money – the £30m "loss" will be recorded under the UBIG/Ukio/Hearts group of companies. The “debt” isn’t due to anyone outwith that group (as far as I know) so actually they’re not going to go bust anytime soon?

So for all those saying they’re going to lend themselves money – where are you going to get it from in the 1st place to lend it to yourself? It seems to me that Hearts just go and tap their (U)big brother whenever they need it – so it’s actual money being transferred inter-company.

Or am I wrong? Over to the “Hoboconomists” to clear this up…

If you owe money to yourself why would you charge yourself interest?

I know that if I owed myself money I would just tell me that I don't owe myself anything, saves with calculating the interest I was going to be due myself. Makes it a whole lot easier.

Do you think that UBIG should just copy my model of owing myself money? I wonder what the answer would be... :devil:

[allmodcons]

"It's not really debt because we owe it to ourselves" ------- What a croc of Sh*t.


Your average Yam , sure but more likely aimed at softening up their Auditors, Johnton Carmichael, who issued heavily qualified accounts about 3 months late last time and must be seriously question the wisdom of signing off another set of accounts even for fees of £58,000 as per last accounts.

Have Johnston Carmichael not booted them into touch? I heard that they'd refused to act for Yams after debacle surrounding last set of accounts!!

[allmodcons]

If you owe money to yourself why would you charge yourself interest?

I know that if I owed myself money I would just tell me that I don't owe myself anything, saves with calculating the interest I was going to be due myself. Makes it a whole lot easier.

Cheers Woody, made me laugh. It only life was so simple at Tynie!!

[Caversham Green]

You’re an accountant aren’t you?

Isn’t it the case that they’ve used the “we’re only owe ourselves money” line to speak in KB language and to make it clear to thickos?

In effect they aren’t due anyone any money – the £30m "loss" will be recorded under the UBIG/Ukio/Hearts group of companies. The “debt” isn’t due to anyone outwith that group (as far as I know) so actually they’re not going to go bust anytime soon?

So for all those saying they’re going to lend themselves money – where are you going to get it from in the 1st place to lend it to yourself? It seems to me that Hearts just go and tap their (U)big brother whenever they need it – so it’s actual money being transferred inter-company.

Or am I wrong? Over to the “Hoboconomists” to clear this up…

I think it was disingenuous to use the "we only owe ourselves" argument in that email. It's important to remember that HOMFC and UBIG are two separate entities. HOMFC owns Tynecastle and the players' contracts and attracts passionate support from a large number of people, purely for being a football club (i'm avoiding any snide banter-type comments here to get the message across). UBIG exists purely to make money for its shareholders and has financial control over HOMFC and security over Tynecastle, but the ground remains the property of HOMFC.

The parent/child analogy isn't bad up to a point, but the emotional attachment is by no means the same in the HOMFC/UBIG relationship and I can see no business case for that relationship to continue.

Like CropleyWasGod, I actually feel quite angry that they have come out with this crap while continuing to increase the debt by charging interest and frustrated that so many Hearts supporters just cravenly accept the lies that are being forced down their throats.

I'm not sure if the above really gets across what I'm trying to say (liquid lunch today :drunk:), but the bottom line is Hearts definitely do not owe £30-40m to themselves, they do owe it to someone else.