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1two
02-02-2010, 10:16 PM
What is this all about?
Whats it for?
Why is their a deadline?
What happens if they dont have it?

BEEJ
02-02-2010, 10:17 PM
What is this all about?
Whats it for?
Why is their a deadline?
What happens if they dont have it?
They forfeit ownership of the PBS?????

:wink:

Malthibby
02-02-2010, 10:19 PM
They transfer it to Nade's account to pay for his new contract - it's their money remember.:agree:

HibeeMcGinn1
02-02-2010, 10:20 PM
Whats all this?

Part/Time Supporter
02-02-2010, 10:20 PM
Keep up at the back

Part of their debt is £17.6M of mortgage debt, owed to Ukio Bankas.

The PBS is provided as security for that debt

This was financed five years ago when Vlad first bought into them, the mortgage debt having previously been provided by HBOS

The term of the mortgage was five years from then (ie its maturing now)

They don't have the money to pay it back (duh)

Vlad will have to come to some sort of deal with Ukio Bankas (which he doesn't wholly own) to refinance that debt.

Ukio Bankas lost a fair chunk of money last year due to having to write off bad debts (like most banks).

Dibben
02-02-2010, 10:20 PM
Relax guys, they'll be OK, they got a Cup Final windfall to bail them out!!

Oh hang on...

:thumbsup:

:notworthy:

BH.

Mikeystewart
02-02-2010, 10:21 PM
Wait have i missed something where did this 17.5M story come from?

The Voice Of Reason
02-02-2010, 10:22 PM
Relax guys, they'll be OK, they got a Cup Final windfall to bail them out!!

Oh hang on...

:thumbsup:

:notworthy:

BH.

:faf: :thumbsup:

hibsboy90
02-02-2010, 10:24 PM
Keep up at the back

Part of their debt is £17.6M of mortgage debt, owed to Ukio Bankas.

The PBS is provided as security for that debt

This was financed five years ago when Vlad first bought into them, the mortgage debt having previously been provided by HBOS

The term of the mortgage was five years from then (ie its maturing now)

They don't have the money to pay it back (duh)

Vlad will have to come to some sort of deal with Ukio Bankas (which he doesn't wholly own) to refinance that debt.

Ukio Bankas lost a fair chunk of money last year due to having to write off bad debts (like most banks).

Whats to stop Vlad using his influence at UBIG towrite off that 17M, or at least part of it?

HibeesLA
02-02-2010, 10:25 PM
Whats to stop Vlad using his influence at UBIG towrite off that 17M, or at least part of it?

Debt for Equity swap coming up.

hibsboy90
02-02-2010, 10:26 PM
Debt for Equity swap coming up.
So he, or at least UBIG will own even more of the club. How much does he currently have?

PaulSmith
02-02-2010, 10:28 PM
Debt for Equity swap coming up.

Yip, one way or the other the loan will be extended as UBIG/Ukio are making too much money to let the well dry up.

Loan extended at a higher interest rate will mean more cash for UKIO/UBIG and less for CheerUp during pre-season.

Now that Vlas has saw £2m quid going down the drain with Goncalves running his deal down he needs to get cash in somehow.

bingo70
02-02-2010, 10:28 PM
Debt for Equity swap coming up.

Don't know enough about it but someone on here (think it was cavershem green) who does says this isn't an option this time round, not sure why though?

Dashing Bob S
02-02-2010, 10:29 PM
Whats to stop Vlad using his influence at UBIG towrite off that 17M, or at least part of it?

As I understand it, it's not UBIG (the conglomerate) but the bank, which the debt is owed to. The most likely arrangement is to deffer the debt for another few years, but the bank's board/shareholders might insist on the transfer of assets (the deeds to the PBS) as collateral.

It might be an interesting week. I know that we're a bit bored predicting the Yams demise, but the storm clouds are certainly gathering, and it seems very flawed to imagine that the bank could simply let this one ride for another few years in the current economic climate.

Sergey
02-02-2010, 10:32 PM
Don't know enough about it but someone on here (think it was cavershem green) who does says this isn't an option this time round, not sure why though?

Because it's a loan payable to Ukio Bank and not UBIG.

The bank cant accept anything else except reddies.

:wink:

macca70
02-02-2010, 10:33 PM
Non story, £17.6 million will be switched from the left pocket to the right pocket :agree:

Schimples

Part/Time Supporter
02-02-2010, 10:33 PM
Whats to stop Vlad using his influence at UBIG towrite off that 17M, or at least part of it?

Some paper exercise shifting money around or deferring like that will probably happen, but a) it's odd that nothing has happened yet; b) he doesn't have full control of Ukio Bankas (unlike UBIG). The other shareholders in Ukio Bankas would not be happy with just getting a whole load of (worthless) Hearts shares for £17.6M.

sixtwo
02-02-2010, 10:34 PM
Debt for Equity swap coming up.

Is there any equity to swap? is that viable?

Hearts are a mess!:thumbsup:

Danderhall Hibs
02-02-2010, 10:35 PM
I've got no idea what this is all about but I'm sure it'll not affect them any more than the "debt" already is.

Having said that Sunday's my birthday so I'm hoping for a nice gift from Vlad and that this weekend.

.Sean.
02-02-2010, 10:36 PM
As i see it refinancing the current 17.6 million (:faf:) is their only option, but are the bank guarunteed to do it? What are the consequences for the Big Team if the bank tell them to bolt?

Leithenhibby
02-02-2010, 10:37 PM
Can this evening get any better...:faf::thumbsup:

What a night on the ...:hnet:

Dashing Bob S
02-02-2010, 10:37 PM
Because it's a loan payable to Ukio Bank and not UBIG.

The bank cant accept anything else except reddies.

:wink:

Would that mean that the title deeds to the PBS couldn't be accepted as colatoral and that the bank would insist on an immediate sale of the stadium as a loss-cutting exercise?

macca70
02-02-2010, 10:42 PM
As i see it refinancing the current 17.6 million (:faf:) is their only option, but are the bank guarunteed to do it? What are the consequences for the Big Team if the bank tell them to bolt?

They'll need to get on the phone to McEwan Fraser to get there big pink hoose sold within 21 days :agree:

The_Todd
02-02-2010, 10:43 PM
Whats to stop Vlad using his influence at UBIG towrite off that 17M, or at least part of it?

Why on earth would he do that? He has them where he wants them.

Iain G
02-02-2010, 10:43 PM
Come on, move along, nothing to see here, there is no problem, how can there be a problem when you owe the money to yourself, all is well, nothing to see, my isn't it a nice day, why LOOK, over THERE, theres Gary MacKay talking to himself while rummaging through that dustbin...why not go see if he owes moneyto anyone (including himself) and stop looking in here where THERE IS NOTHING TO SEE....

...go away and stop looking...

...no I can't here a big clock ticking, have you had your ears cleaned recently???

.Sean.
02-02-2010, 10:44 PM
So, uhm, it kinda looks like the Hertz are ****ED :faf:

Silver Fox
02-02-2010, 10:45 PM
Surely Ukio already have the deeds as colateral (sp) in lieu of the loan?

sauzee1966
02-02-2010, 10:49 PM
guys whats the problem and panic...all is as cool as a Russian Sub in Vladivostok.
Its all based on very sound banking priciples.
1- Only tell them what they want to hear.
2- If they want any more info...bury it and then promise untold riches.
3- If anyone sniffs around and starts to think there is something iffy...make sure he makes lots of money...quickly!
4- This is electronic debt and as such nice computers and printers can produce things, statements, balances, share certificates etc to fool the local fools.
5- all will be ok and we all have money and we will all make lots and lots of cash.
6- Open a nice room in a very expensive office block...block out the windows...stuff it full of very old PCs and lock the doors.



Now this worked for some guy in New York and he made Billions!!!

So my view is that Vlad is the Bernie Maddoff of Edinburgh.

Really nice little Pyramid scheme.....but always falls eventually:notworthy:





Can this evening get any better...:faf::thumbsup:

What a night on the ...:hnet:

greenginger
02-02-2010, 10:56 PM
Just to add to their woes I see the Companies House web-site has the Hearts Accounts to July 2009 as now overdue ( there's a surprise )

Any guesses Which month/year they will appear and the overall debt figure.

I'll start at April and £39 Million.

weonlywon6-2
02-02-2010, 11:02 PM
Non story, £17.6 million will be switched from the left pocket to the right pocket :agree:

Schimples

yeah i would say so. the mad one will know what he is doing i`m sure.

now how much could we get for land in gorgie ?:wink::wink:

weonlywon6-2
02-02-2010, 11:05 PM
I've got no idea what this is all about but I'm sure it'll not affect them any more than the "debt" already is.

Having said that Sunday's my birthday so I'm hoping for a nice gift from Vlad and that this weekend.

youve no had to wait till the weekend for a pressie,what a few days its been,if you get another pressie your a spoilt [email protected]!!!:wink::greengrin

Hank Schrader
02-02-2010, 11:24 PM
Just to add to their woes I see the Companies House web-site has the Hearts Accounts to July 2009 as now overdue ( there's a surprise )

Any guesses Which month/year they will appear and the overall debt figure.

I'll start at April and £39 Million.

Shocking and embarrassing that they should be late two years in a row with their year end accounts. The late filing penalties are steeper for PLC's than private companies and I am sure the Companies Act 2006 has brought in stiffer penalties for repeat offenders.

I wonder if the auditors are having trouble getting all the info they need in order to NOT qualify the accounts for a second year running.

NORTHERNHIBBY
02-02-2010, 11:27 PM
Unortunately for the Hearts, it looks like they will need to look at their first team squad and sell all their most valuable assets. That should help to lower the overall debt to about £17.6 million.

NOLA
03-02-2010, 01:05 AM
if they keep shifting their debt from one hand to the other, then i take it romanov the Hibbie is just waiting for the banking crisis to be over so as he can reap peoples interest payments to cover all liabilities?

DaveSo
03-02-2010, 10:29 AM
How come no one in the press has picked up on this potential big story ?
Have not seen a snifter about it in the media.
Surely they should be asking Hearts for their comments regarding it and how they plan to deal with it :confused:

JeMeSouviens
03-02-2010, 10:39 AM
The ownership of the bank is shown here:

http://www.ub.lt/ShowPage.aspx?MenuC=1917&ShowDoc=inv.akcininku_struktura&PageLang=ENG&PageFontSize=

So between, Vlad, Vlad's mum and UBIG he does hold over 50%.

sambajustice
03-02-2010, 10:44 AM
While i'd love it to happen this topic is getting ever so tedious!! Every week on here just about there is a new thread about Hearts going under! This has been going on for about 3 years now!

Its boring!!!

Lets just enjoy pissing ourselves at their joke of a team and if anything else happens then great!

New Corrie
03-02-2010, 10:45 AM
So, uhm, it kinda looks like the Hertz are ****ED :faf:


Not so sure Sean, Ayr United foolishly never included a sell on clause in the Ryan Stevenson deal, so when Hearts sell him on for £20 mil that should alleviate any financial worries.

CropleyWasGod
03-02-2010, 10:50 AM
So he, or at least UBIG will own even more of the club. How much does he currently have?

215% :greengrin

All of it in short and curlies.

s.a.m
03-02-2010, 11:35 AM
As I understand it, it's not UBIG (the conglomerate) but the bank, which the debt is owed to. The most likely arrangement is to deffer the debt for another few years, but the bank's board/shareholders might insist on the transfer of assets (the deeds to the PBS) as collateral.

It might be an interesting week. I know that we're a bit bored predicting the Yams demise, but the storm clouds are certainly gathering, and it seems very flawed to imagine that the bank could simply let this one ride for another few years in the current economic climate.


Not me. In fact, in my darker moments it keeps me going.

s.a.m
03-02-2010, 11:36 AM
While i'd love it to happen this topic is getting ever so tedious!! Every week on here just about there is a new thread about Hearts going under! This has been going on for about 3 years now!

Its boring!!!

Lets just enjoy pissing ourselves at their joke of a team and if anything else happens then great!

See above. Surely you don't have to be Grown Up and Clever all the time?

Dashing Bob S
03-02-2010, 03:06 PM
Not me. In fact, in my darker moments it keeps me going.

Actually, I'm trying to be all smart and grown up, but I'm lying. I've enjoyed every minute of it.

Dashing Bob S
03-02-2010, 05:38 PM
At least they have a special relationship with the Scottish Cup and have a tie to look forward to on Saturday to take their mind of Sunday's debt repayment.


Whoops!

ginger_rice
03-02-2010, 05:52 PM
guys whats the problem and panic...all is as cool as a Russian Sub in Vladivostok.
:

:faf::faf:

jabis
03-02-2010, 05:58 PM
Not me. In fact, in my darker moments it keeps me going.

Aaaaaww ....big hugs Sue !

As for me,I enjoy the threads,although they can get boring(a bit like watching reruns of Top Gear :greengrin)

Alfred E Newman
03-02-2010, 06:03 PM
surely they will just borrow some money to pay of the debt. From themselves of course. :faf::faf::faf:

s.a.m
03-02-2010, 06:54 PM
Aaaaaww ....big hugs Sue !

As for me,I enjoy the threads,although they can get boring(a bit like watching reruns of Top Gear :greengrin)

Many thanks.

Obviously I'm just easily amused.:rolleyes: (Although watching reruns of Top Gear might be a step too far......)

Hibs07p
04-02-2010, 08:07 PM
3 days and counting. :thumbsup:

whiskyhibby
04-02-2010, 08:13 PM
So he, or at least UBIG will own even more of the club. How much does he currently have?

at this rate of debt/equity swapping the Jumbos must have a Market value of £50+M............

Or else they are being creative with the accounts!

Phil D. Rolls
04-02-2010, 08:20 PM
At least they have a special relationship with the Scottish Cup and have a tie to look forward to on Saturday to take their mind of Sunday's debt repayment.


Whoops!

No it's the league cup they're looking forward to this year...."be nice to bring home the diddy cup", or something like that.

Houchy
04-02-2010, 08:23 PM
My father in law is a yam and has told me that he hates Hibs on a number of occassions now. He is currently on holiday in the Dominican Republic until next Wednesday and I can think of nothing more satisfying than calling him up Sunday night (having already taken great pleasure in telling him his team, sorry, group of individuals, were pumped out the cup by St Mirren) and telling him that Hearts are no more. I think I would actually drive there and pick him up just to gloat for 6000 or so miles:greengrin.

ScottB
04-02-2010, 08:23 PM
at this rate of debt/equity swapping the Jumbos must have a Market value of £50+M............

Or else they are being creative with the accounts!

Hey, it's keeping Rangers going!

Hakim Sar
04-02-2010, 08:29 PM
i think it is an absolute stick on that there will be money paid upfront as a token payment and signal of intent

wouldnt be surprised if hearts pay the last 5 years worth of interest (probably 2 weeks late) and start the whole thing again from square one.

ie they will gamble on extending the loan/mortgage further for next 5 years and pray for a windfall or a dramatic increase in ..... guess what..... yup you guessed it PROPERTY PRICES

i have just described a way of debt for equity but i think that the fact they have had no outlay on transfer fees means a certainty that behind the scenes Serjius Fedetovas is getting ready to write a cheque to pay off interest

difference between hertz and man utd is man utd use their profits to service the debt interest

hertz have no profit - make of that what you will .netters!!!!!!

:bye:

Hibby Kay-Yay
04-02-2010, 08:34 PM
****, no this again...

It can't be debt if they own it to themselves :rolleyes:



:devil:

Winston Ingram
04-02-2010, 08:37 PM
I'm confused by the fact that it is Sunday that the debt is due to paid and obviously that isn't a business day. To me this money must then be paid on Friday surely:confused:

I can understand why JKB aren't getting to worried about as they have proven themselves on numerous occasions that they are just ****in deluded muppets. However, this payment is well known so why isn't there a huge furore in the press about it?

I fully expect to see or hear nothing about it between now and accounts time when it'll just appear in a different column due to some more creative accounting:agree:

Dashing Bob S
04-02-2010, 08:43 PM
I'm confused by the fact that it is Sunday that the debt is due to paid and obviously that isn't a business day. To me this money must then be paid on Friday surely:confused:

I can understand why JKB aren't getting to worried about as they have proven themselves on numerous occasions that they are just ****in deluded muppets. However, this payment is well known so why isn't there a huge furore in the press about it?

I fully expect to see or hear nothing about it between now and accounts time when it'll just appear in a different column due to some more creative accounting:agree:

The press are basically cowardly ratbags, they function largely as PR for the sattelitte broadcasters nowadays. They aren't going to start any serious investigations into football club finances until it goes pear shaped and there's a major casualty.

Hakim Sar
04-02-2010, 08:52 PM
funny how romanov owns 100% of the club but not the stadium

funny how if hearts can only service interest the debt stays the same

funny how the interest will be back again in 5 years and hearts will still not be running at a profit

funny how through all this madness , romanov will magically obtain the deeds to PBS to securitise the debt

funny how romanov will use tynecastle as security to punt the debt to a different bank and then if he choses to walk away HE SELLS TYNECASTLE TO THE NEW CREDITORS, UKIO WALKS AWAY WITH 10 YEARS OF INTEREST PAYMENTS IN THEIR POCKET

AND HEARTS HAVE THE SAME DEBT AND NO STADIUM

Princess Anne can come up during 6 nations with the red tape and scissors and in her posh snooty royal voice declare

''I formally decree this establisment closed!!!!!''

que huge hurrahs doon the port o'leith

The_Todd
04-02-2010, 09:35 PM
Well, looky looky what we have here, a Yam with enough braincells to realise something's amiss and acknowledges there's a £16m repayment to be made.

http://www.hearts.vitalfootball.co.uk/article.asp?a=187090 (http://www.hearts.vitalfootball.co.uk/article.asp?a=187090)

Maybe they're not all so blind, after all.

Dashing Bob S
04-02-2010, 09:59 PM
It's just good football management, Yamstyle. It was all organised in the unlikely event (which sadly came to pass) that they weren't in the Scottish Cup action, in order to provide some weekend drama for the 400,000.

matty_f
04-02-2010, 10:06 PM
I reckon that there's every chance that Sunday will come and go with nothing of note happening to the Yams.

down-the-slope
04-02-2010, 10:28 PM
next wheeze will be a sell and lease back of stadium...that way the bank has a chunk of its cash back (on paper anyway) and lease payments will be another way to fleece the club along with interest payments on the remaining loan.

the_ginger_hibee
04-02-2010, 10:36 PM
I reckon that there's every chance that Sunday will come and go with nothing of note happening to the Yams.

:agree:

Major non-event. Yam semi-final style.

BEEJ
04-02-2010, 11:54 PM
I reckon that there's every chance that Sunday will come and go with nothing of note happening to the Yams.
:agree:

Sergey might pick up some announcement next week from the eastern European stock markets that he seems to monitor routinely. But we won't feel any earth tremors on Sunday.

iwasthere1972
05-02-2010, 12:56 AM
Anyone out there know how the sales of the Yam/Scotland top that was advertised on their official site last year did. It was a quality product :jamboak: and should have brought in enough cash for Vlad to pay up on Sunday. Maybe enough left over for the new stand. :devil:

Phil D. Rolls
05-02-2010, 01:36 PM
Anyone out there know how the sales of the Yam/Scotland top that was advertised on their official site last year did. It was a quality product :jamboak: and should have brought in enough cash for Vlad to pay up on Sunday. Maybe enough left over for the new stand. :devil:

This bloke I know (not me you understand) was in the Yam superstore to buy a Xmas present for a friend of his daughter's, and that top was on sale there at £25.

It looked like one of those cheap immo strips you can buy in Spain, total tat. (At least that's what I was told).

MB62
05-02-2010, 02:16 PM
That was an excellent article by Specs Haver and if there were more Yams like him/her, they might have a chance of standing up and being counted, and maybe making a difference.

Unfortunately for them, they just don't have it in them to either realise their problem, :ostrich: :ostrich: or the bottle to do something about it.

Dashing Bob S
05-02-2010, 02:55 PM
:agree:

Sergey might pick up some announcement next week from the eastern European stock markets that he seems to monitor routinely. But we won't feel any earth tremors on Sunday.

It's the probable outcome, given the complex set of arrangements they have. But like the Huns, they will learn that banks don't mess around with debt. They have been tolerated up till now because they've been putting hard cash payments into the Lith bank and or UBIG conglomerate three times a year, through 1) sale of ST's to muppets, 2) transfer fees in Jan/summer windows.

The Goncalves/Casa/Jeff affair shows how much the strategy of player sales is important to Vlad (and the shareholders, officers of his bank). The market seems to have dried up and it must be getting to the point where ST's are no longer worthwhile to maintain this strategy.

As for 'owing it to themselves' if the conglomerate is profitable (it isn't) then other parts of it might theoretically be used to sub Hearts. But it's just running up more debt to the bank. That will need to be addressed at some point. I have a feeling that there will be further bad news for the Yams on Monday. There might be no need to sell the ground right now (the conglomerate own it anyway) but once the property market improves, its a racing cert to go.

Dr Jimmy
05-02-2010, 03:12 PM
Well, looky looky what we have here, a Yam with enough braincells to realise something's amiss and acknowledges there's a £16m repayment to be made.

http://www.hearts.vitalfootball.co.uk/article.asp?a=187090 (http://www.hearts.vitalfootball.co.uk/article.asp?a=187090)

Maybe they're not all so blind, after all.

Great article, can you post Part 3 when it happens?

Caversham Green
05-02-2010, 03:23 PM
I reckon that there's every chance that Sunday will come and go with nothing of note happening to the Yams.

Something will happen - it has to. We'd have heard something by now if it was going to be earth-shattering, so it's likely just to be a re-financing of the debt (unlikely, given the apparent state of Ukio) or a pay-off by UBIG. Definitely no debt for equity swap, because HoMFC would have to increase their authorised share capital, and that needs approval at a general meeting, which needs 21 days notice.

The next exciting instalment is whether they have exceeded their borrowing powers and what the auditors will say about their already overdue accounts.

jgl07
05-02-2010, 05:38 PM
Something will happen - it has to. We'd have heard something by now if it was going to be earth-shattering, so it's likely just to be a re-financing of the debt (unlikely, given the apparent state of Ukio) or a pay-off by UBIG. Definitely no debt for equity swap, because HoMFC would have to increase their authorised share capital, and that needs approval at a general meeting, which needs 21 days notice.

The next exciting instalment is whether they have exceeded their borrowing powers and what the auditors will say about their already overdue accounts.
Does anyone know when Hearts next AGM is due?

I seem to recall something about changing their financial year so as to delay the next AGM and set of accounts.

Can anyone else remember anything about this.

The latest accounts only go up to July 31 2008.

That is closing in on two years ago.

scoopyboy
05-02-2010, 05:52 PM
Does anyone know when Hearts next AGM is due?

I seem to recall something about changing their financial year so as to delay the next AGM and set of accounts.

Can anyone else remember anything about this.

The latest accounts only go up to July 31 2008.

That is closing in on two years ago.

Last year they issued their figures on the same day as our under 19s won the league at Motherwell, which IIRC was late April. I remember laughing all the way through in the car and I was on my own, got some funny stares.

Last AGM Mid Mayish.

Mikey
05-02-2010, 07:35 PM
That was an excellent article by Specs Haver and if there were more Yams like him/her, they might have a chance of standing up and being counted, and maybe making a difference.

Unfortunately for them, they just don't have it in them to either realise their problem, :ostrich: :ostrich: or the bottle to do something about it.

If he posted that over the road he'd get slaughtered. In fact, I haven't looked but I suspect it is being slaughtered!

There's another problem I can see that he doesn't mention. He touches on the loyalty of the fans, but that very loyalty is stopping them from doing something about Romanov. If they were to protest it would be tantamount to admitting that their team isn't as good as they keep telling everyone it is and an admittance that they're not as good as the Hibs. They won't do that and would rather continue with the pretence!

Last season there were plenty of them on here telling us that the league table doesn't lie. Presumably it does now :wink:

Sergey
05-02-2010, 07:50 PM
:agree:

Sergey might pick up some announcement next week from the eastern European stock markets that he seems to monitor routinely. But we won't feel any earth tremors on Sunday.

My apologies to all. I've actually had to do some work this week and haven't been on the ball.

I've Monday off, though :greengrin

jacomo
05-02-2010, 08:25 PM
Well, looky looky what we have here, a Yam with enough braincells to realise something's amiss and acknowledges there's a £16m repayment to be made.

http://www.hearts.vitalfootball.co.uk/article.asp?a=187090 (http://www.hearts.vitalfootball.co.uk/article.asp?a=187090)

Maybe they're not all so blind, after all.

Reads like a piece by Shaun Lawson... it's certainly long-winded enough.

Some of you may recall that early on in Vlad's time, Shaun writing a 3-parter setting out a 5 year plan on how Hearts were set to dominate European football, thanks to the genius of a successful Russian businessman.

Now that the penny is dropping, this Hearts punter has made the stunning realisation that Vlad might not actually care about his club?!

This piece is at least more accurate - it recycles chat that's been happening on this site for years - but has similar conjecture and speculation.

Here's the FACTS - Hearts have sold their club, ground and soul to a man who's motivations may be opaque, but certainly don't include the welfare of their football club.

the_ginger_hibee
05-02-2010, 08:34 PM
Reads like a piece by Shaun Lawson... it's certainly long-winded enough.

Some of you may recall that early on in Vlad's time, Shaun writing a 3-parter setting out a 5 year plan on how Hearts were set to dominate European football, thanks to the genius of a successful Russian businessman.

Now that the penny is dropping, this Hearts punter has made the stunning realisation that Vlad might not actually care about his club?!

This piece is at least more accurate - it recycles chat that's been happening on this site for years - but has similar conjecture and speculation.

Here's the FACTS - Hearts have sold their club, ground and soul to a man who's motivations may be opaque, but certainly don't include the welfare of their football club.

Very expertly summed up. :agree:

This site can let fanciful speculation run their heads and it does get all a bit 'repetitive'. The Hearts are in a bad enough state anyway, lets just laugh at the facts, cause they're funny enough!

Hibs07p
07-02-2010, 10:40 AM
Are the cant's still with us?
If there is no announcement tomorrow regarding this due payment, what is Vlad up to behind the smoke and mirrors? :greengrin

Winston Ingram
07-02-2010, 11:15 AM
Are the cant's still with us?
If there is no announcement tomorrow regarding this due payment, what is Vlad up to behind the smoke and mirrors? :greengrin

I don't think we will hear anything until the accounts are out - whenever that will be:agree:

Jack
07-02-2010, 11:39 AM
Assuming all this is true about the money being due today Ö is there any reason why there should be a [press] announcement about it or how its been dealt with?

It may have already be a done deal.

I know this might sound a bit yamish but if itís a loan within the same group of companies why should it be public knowledge now what's happened to it?

Mellow Hibee
07-02-2010, 01:56 PM
Assuming all this is true about the money being due today Ö is there any reason why there should be a [press] announcement about it or how its been dealt with?

It may have already be a done deal.

I know this might sound a bit yamish but if itís a loan within the same group of companies why should it be public knowledge now what's happened to it?

I agree with that in a general sense but owning a football club is a bit different. The supporters are the people who pay you a substantial amount of cash every year and showing them a little respect by being transparent with the finances of what is their club would generally be the norm.

Sergey
07-02-2010, 02:09 PM
Assuming all this is true about the money being due today Ö is there any reason why there should be a [press] announcement about it or how its been dealt with?

It may have already be a done deal.

I know this might sound a bit yamish but if itís a loan within the same group of companies why should it be public knowledge now what's happened to it?

Given the fact that Fedotovas sent out an email communique in December to fans stating that the situation was being addressed, I'd have thought that the same supporters would be welcoming of an answer, or at the very least, an update, unless of course the matter hasn't been resolved.

Still, if they incur excessive penalty fees or extortionate interest rates, they'll not need to worry as they owe it to themselves.

Dashing Bob S
07-02-2010, 03:36 PM
Given the fact that Fedotovas sent out an email communique in December to fans stating that the situation was being addressed, I'd have thought that the same supporters would be welcoming of an answer, or at the very least, an update, unless of course the matter hasn't been resolved.

Still, if they incur excessive penalty fees or extortionate interest rates, they'll not need to worry as they owe it to themselves.

I would ask Fat :fibber:Jeff about this. He'll be in the know. :wink:

Caversham Green
07-02-2010, 03:52 PM
Assuming all this is true about the money being due today Ö is there any reason why there should be a [press] announcement about it or how its been dealt with?

It may have already be a done deal.

I know this might sound a bit yamish but if itís a loan within the same group of companies why should it be public knowledge now what's happened to it?

It's certainly true, the date and amount are specified in the accounts to 31 July 2008 to draw attention to potential going concern problems. Because of this and the fact that the auditors were forced to cast doubt on the continuing support from the parent company means that the club has a duty to advise the shareholders that the loan has been settled/refinanced. Any club that didn't hold its fans in total contempt would also want to let them know how the problem has been dealt with.

Ukio are not a member of the UBIG group (which is another reason why the debt for equity swap couldn't work), and since they deemed a £13m loan from Vlad sufficiently material to make a statement, I would have thought the HoMFC loan would warrant some sort of publicity.

Maybe we'll hear something tomorrow.

TRC
07-02-2010, 03:57 PM
And of course Vlad will have had his taxes done by the 31st jan as Moira Stuart tells him to. Good luck Yams I tink you may need it, either that or a rather large Iron curtain to hid behind :wink:

jgl07
07-02-2010, 08:44 PM
It's certainly true, the date and amount are specified in the accounts to 31 July 2008 to draw attention to potential going concern problems. Because of this and the fact that the auditors were forced to cast doubt on the continuing support from the parent company means that the club has a duty to advise the shareholders that the loan has been settled/refinanced. Any club that didn't hold its fans in total contempt would also want to let them know how the problem has been dealt with.

Ukio are not a member of the UBIG group (which is another reason why the debt for equity swap couldn't work), and since they deemed a £13m loan from Vlad sufficiently material to make a statement, I would have thought the HoMFC loan would warrant some sort of publicity.

Maybe we'll hear something tomorrow.
Or maybe not.

Vlad is exactly noted for his slavish compliance to company law.

steakbake
07-02-2010, 09:33 PM
Here we are again - another one of our famous h/net deadlines and tynecastle is still standing.

In future, can we relegate this sort of speculation to "The Dug Out" thread or something?

Alex Trager
07-02-2010, 09:35 PM
here we are again - another one of our famous h/net deadlines and tynecastle is still standing.

In future, can we relegate this sort of speculation to "the dug out" thread or something?
this

Hank Schrader
08-02-2010, 12:08 AM
this

This

akita
08-02-2010, 12:46 AM
This

Yes

Woody1985
08-02-2010, 12:51 AM
This

this

gets on my tits!

Don't know why but when I see that written in agreement in a post it does my head in. Weird. :LOL:

akita
08-02-2010, 01:10 AM
this

gets on my tits!

Don't know why but when I see that written in agreement in a post it does my head in. Weird. :LOL:

This

Hank Schrader
08-02-2010, 01:45 AM
this


this

gets on my tits!

Don't know why but when I see that written in agreement in a post it does my head in. Weird. :LOL:

Does my head in too. Especially when the person using it has questionable posting habits and Jambo-ish tendancies.

akita
08-02-2010, 01:54 AM
Does my head in too. Especially when the person using it has questionable posting habits and Jambo-ish tendancies.

Is that me or him you're talking about????

Hank Schrader
08-02-2010, 09:06 AM
Is that me or him you're talking about????

Not you. :wink:

steakbake
08-02-2010, 09:35 AM
Not you. :wink:

Me? :grr: :wink:

Hank Schrader
08-02-2010, 09:59 AM
Me? :grr: :wink:

:devil:

steakbake
08-02-2010, 10:32 AM
:devil:

This. :coffee:

matty_f
08-02-2010, 10:58 AM
Something will happen - it has to. We'd have heard something by now if it was going to be earth-shattering, so it's likely just to be a re-financing of the debt (unlikely, given the apparent state of Ukio) or a pay-off by UBIG. Definitely no debt for equity swap, because HoMFC would have to increase their authorised share capital, and that needs approval at a general meeting, which needs 21 days notice.

The next exciting instalment is whether they have exceeded their borrowing powers and what the auditors will say about their already overdue accounts.

Anything happened yet? :dunno:

:greengrin

jacomo
08-02-2010, 11:22 AM
Anything happened yet? :dunno:

:greengrin

I heard a little boy crying "wolf" outside just a minute ago...

Is this relevant?

:yawn:

Danderhall Hibs
08-02-2010, 11:46 AM
I heard a little boy crying "wolf" outside just a minute ago...

Is this relevant?

:yawn:

Were you on the URGENT East Stand coming soon thread?

bawheid
08-02-2010, 11:53 AM
Were you on the URGENT East Stand coming soon thread?

:tsk tsk:

URGENT

Fife-Hibee
08-02-2010, 11:55 AM
It seems that sickboak is of line, is that it then:devil:

Twa Cairpets
08-02-2010, 11:59 AM
I agree with that in a general sense but owning a football club is a bit different. The supporters are the people who pay you a substantial amount of cash every year and showing them a little respect by being transparent with the finances of what is their club would generally be the norm.

A fair and balanced post, but completely missing the point that the use of the words "respect", or "transparent finances" is punishable by death over Tynecastle way.

Part/Time Supporter
08-02-2010, 12:08 PM
You lot are like a bunch of kids in the back of the family car

Are the Yams bust yet?

:greengrin

jacomo
08-02-2010, 12:48 PM
Were you on the URGENT East Stand coming soon thread?

Yes I was... lots of chatter, but nothing to see.

Caversham Green
08-02-2010, 01:43 PM
Anything happened yet? :dunno:

:greengrin

Yes.

matty_f
08-02-2010, 01:46 PM
Yes.

:thumbsup: What's happened?

Caversham Green
08-02-2010, 01:48 PM
:thumbsup: What's happened?

One of the two things I said would happen - dunno which one though, it might be both.

Maybe we'll hear something today.

MB62
08-02-2010, 01:55 PM
One of the two things I said would happen - dunno which one though, it might be both.

Maybe we'll hear something today.

In the words of Dick Dasterdly

WHAT'D HE SAY, WHAT'D HE SAY?

Caversham Green
08-02-2010, 02:16 PM
In the words of Dick Dasterdly

WHAT'D HE SAY, WHAT'D HE SAY?

I don't actually know that anything's happened, I'm just working on the basis that something must have because the repayment was due yesterday. The two alternatives were:

UBIG pay off the loan (i.e. HoMFC end up owing it to UBIG rather than UKIO) or
Ukio refinance it - i.e. extend the repayment date.
It's also possible that a combination of the two has happened - UBIG pay off say £10m and Ukio refinance the rest. If anything more exciting had happened we'd probably have got wind of it by now. As it is I'm surprised they haven't said anything given the scale of the loan, but that's Vlad for you.

Part/Time Supporter
08-02-2010, 02:17 PM
I don't actually know that anything's happened, I'm just working on the basis that something must have because the repayment was due yesterday. The two alternatives were:

UBIG pay off the loan (i.e. HoMFC end up owing it to UBIG rather than UKIO) or
Ukio refinance it - i.e. extend the repayment date.
It's also possible that a combination of the two has happened - UBIG pay off say £10m and Ukio refinance the rest. If anything more exciting had happened we'd probably have got wind of it by now. As it is I'm surprised they haven't said anything given the scale of the loan, but that's Vlad for you.

Judging by the shambles that is HOMFC, they've probably forgotten about it completely.

:faf:

MB62
08-02-2010, 02:44 PM
Judging by the shambles that is HOMFC, they've probably forgotten about it completely.

:faf:

They have maybe tried to conveniently forget about hoping it would go away.
Probably tried the old :ostrich: ploy.

s.a.m
08-02-2010, 03:18 PM
Judging by the shambles that is HOMFC, they've probably forgotten about it completely.

:faf:

Imagine you are going about your business, when you suddenly remember that the Jambos owe you 40,000,000 quid.:greengrin

I'm actually jealous of Vlad. It's like getting to be the James Bond villain with the white cat, but for real.

Geo_1875
08-02-2010, 03:24 PM
The cheque's in the post!!!

HFC 0-7
08-02-2010, 03:28 PM
Technical Glitch. The same one that caused the players wages to be delayed. At this point hearts will probably say they arent paying it because it wasnt as good as they thought it was, ala Beslija.

Speedway
08-02-2010, 03:32 PM
Ultimately, I think, that if Hearts continue to spend more than they earn; their debt is only ever going to get bigger.

Woody1985
08-02-2010, 05:15 PM
Ultimately, I think, that if Hearts continue to spend more than they earn; their debt is only ever going to get bigger.

If they don't spend more than they earn it's still going to get bigger. They don't pay interest on their loan (despite it still accumulating) don't you know. All big clubs don't pay their interest and let it accumulate. :faf:

Silver Fox
08-02-2010, 11:13 PM
I'm surprised there's not been more on this. :confused:

Danderhall Hibs
08-02-2010, 11:17 PM
I'm surprised there's not been more on this. :confused:

I'm not. We're forever plotting their downfall but nothing ever happens.

Ed De Gramo
08-02-2010, 11:19 PM
Here we are again - another one of our famous h/net deadlines and tynecastle is still standing.

In future, can we relegate this sort of speculation to "The Dug Out" thread or something?

:top marks

It's all a load of pish!

Its no gonna happen so sadly certain people will have to put away their jizzing sock...

Silver Fox
08-02-2010, 11:44 PM
I'm not. We're forever plotting their downfall but nothing ever happens.

I was just expecting an announcement from them saying it had been dealt with in one of the ways as predicted by Caversham, this 17m was in their accounts and not dreamt up by a .netter. :greengrin

Dashing Bob S
09-02-2010, 02:49 AM
I'm not. We're forever plotting their downfall but nothing ever happens.

Except:

1. The debt keeps increasing.
2. Managers keep getting fired.
3. Key players keep leaving.
4. Bad Lithuanians keep coming in.
5. Fans keep disguising themselves as seats.

greenlex
09-02-2010, 07:26 AM
Except:

1. The debt keeps increasing.
2. Managers keep getting fired.
3. Key players keep leaving.
4. Bad Lithuanians keep coming in.
5. Fans keep disguising themselves as seats.
get your rocks off get your rocks off honey.

Pedantic_Hibee
09-02-2010, 07:29 AM
They'll most likely sneak it into the accounts where they reveal they've shattered the £40m overdraft limit and Vlad's having to resort to pimping wee Rodney on Calton Hill to keep their head above water.

Hibby70
09-02-2010, 07:37 AM
get your rocks off get your rocks off honey.had the exact same thought when i read it. Makings of a great song there.

KerPlunk
09-02-2010, 07:42 AM
I was just expecting an announcement from them saying it had been dealt with in one of the ways as predicted by Caversham, this 17m was in their accounts and not dreamt up by a .netter. :greengrin


http://www.semplefraser.co.uk/index.php?s=50&c=175&p=2099

:cool2:

Silver Fox
09-02-2010, 08:13 AM
http://www.semplefraser.co.uk/index.php?s=50&c=175&p=2099

:cool2:

Nothing mentioned in there, thats the last debt for equity swap. :yawn:

matty_f
09-02-2010, 08:20 AM
Nothing mentioned in there, thats the last debt for equity swap. :yawn:

I have no doubt that if they'd paid off the money they'd be making a big song and dance about it, to show how well they're run and that.

At the same time, I can't see UBIG/UKIO or whoever they're owing the money too, making a big deal about calling it in. My gut feeling is that we just won't hear anything of note about it one way or the other.

KerPlunk
09-02-2010, 08:41 AM
Nothing mentioned in there, thats the last debt for equity swap. :yawn:

Oh, pardon me Mr. Buffet - now, where's me birch twigs ?..............:dummytit:

Silver Fox
09-02-2010, 09:44 PM
Oh, pardon me Mr. Buffet - now, where's me birch twigs ?..............:dummytit:


Sorry? The article is dated 09/07/08, the loan was due for repayment 07/02/10 I'm not getting the relevance to the article posted or your comments :confused:

Sergey
09-02-2010, 09:53 PM
It might just be pure coincidence, but doesn't the Yams league position have some similarity to the Ukio share price :agree:

http://www.hibs.net/message/picture.php?albumid=20&pictureid=170

Silver Fox
09-02-2010, 10:11 PM
It might just be pure coincidence, but doesn't the Yams league position have some similarity to the Ukio share price :agree:

http://www.hibs.net/message/picture.php?albumid=20&pictureid=170

aye! :agree: Thats uncanny! :agree:

whiskyhibby
09-02-2010, 10:18 PM
http://www.semplefraser.co.uk/index.php?s=50&c=175&p=2099 (http://www.semplefraser.co.uk/index.php?s=50&c=175&p=2099)

:cool2:

Interesting in that at the £12M for 13% Debt for Equity swap, it values the Jumbo's at close on a £100M?..............or I am being too simplistic with my Hobonomics assessment???

:notworthy::notworthy:

1two
10-02-2010, 11:28 AM
Interesting in that at the £12M for 13% Debt for Equity swap, it values the Jumbo's at close on a £100M?..............or I am being too simplistic with my Hobonomics assessment???

:notworthy::notworthy:
probably yes since its closer to 92 mil
must have been your hobo rounding errors :-)

CentreLine
15-02-2010, 08:03 PM
It might just be pure coincidence, but doesn't the Yams league position have some similarity to the Ukio share price :agree:

http://www.hibs.net/message/picture.php?albumid=20&pictureid=170

C'mon Sergey, there must be some news on this front. It can't simply have been swept under the carpet. Surely companies must explain how it is a huge debt has not been paid. Or if in fact it has been paid???????????????????

Sergey
15-02-2010, 08:16 PM
C'mon Sergey, there must be some news on this front. It can't simply have been swept under the carpet. Surely companies must explain how it is a huge debt has not been paid. Or if in fact it has been paid???????????????????

It's currently Lietuvos valstybės atkūrimo diena in Lithuania and everything is on shut-down, even the spin-doctors :agree:

hibsfan7
15-02-2010, 09:51 PM
nothing to worry about they owe the money to themselves
it is just a major distraction away from his plans for world domination of the banking business
we will not be laughing when he sings the likes of messi,xavi,torres and win the treble and the champions league

us wee teams just do not understand how mad vlads mind works

Petrie's Tache
16-02-2010, 07:24 AM
Except:

1. The debt keeps increasing.
2. Managers keep getting fired.
3. Key players keep leaving.
4. Bad Lithuanians keep coming in.
5. Fans keep disguising themselves as seats.

Tune of primal scream get your rocks off:

Debt keeps increasing
Players keep leaving
Mikey keeps whorin
Us Junkies keep scorin
Nades at the meat rack
****ging Suso bareback
You bithces keep bithcin
Youre clap will keep itchin
Aint no use in praying
Thats the way it staying BABY

YEAH YEAH YEAH

Pull your c8cks off pull your c8cks of wnakers
Wake up right now
Wake up right now Jambos


And repeat.

Dashing Bob S
16-02-2010, 03:33 PM
get your rocks off get your rocks off honey.

:faf: I hear a primal scream coming from Jose Goncalves.

Hibby70
16-02-2010, 04:13 PM
and a prize icecream from chritian nade

CentreLine
16-02-2010, 04:32 PM
It's currently Lietuvos valstybės atkūrimo diena in Lithuania and everything is on shut-down, even the spin-doctors :agree:

Hmmm :hmmm:Even the spin doctors have nothing to say??????? It must be terminal nurse :agree:

Thanks for the update, we are relying on you :notworthy:

Sergey
19-02-2010, 01:14 PM
This £17.6M just doesn't go away.

http://www.heartsfc.co.uk/articles/20100219/sergejus-stadium-update_2241384_1970691

Good to see that the stand is back on track, too.

This should keep the Yams happy for a little while longer.

cockneymike
19-02-2010, 01:18 PM
Tune of primal scream get your rocks off:

Debt keeps increasing
Players keep leaving
Mikey keeps whorin
Us Junkies keep scorin
Nades at the meat rack
****ging Suso bareback
You bithces keep bithcin
Youre clap will keep itchin
Aint no use in praying
Thats the way it staying BABY

YEAH YEAH YEAH

Pull your c8cks off pull your c8cks of wnakers
Wake up right now
Wake up right now Jambos


And repeat.

:top marks

Sergey
19-02-2010, 01:26 PM
Just reading the glibly worded statement on the Yams official site, the wording of the DfE swap is rather interesting...


Sergejus also revealed that the second debt for equity plan he wrote about in his Christmas email is likely to form part of the stadium proposals.

That could be the deeds for the PBS gone.

BEEJ
19-02-2010, 02:07 PM
Just reading the glibly worded statement on the Yams official site, the wording of the DfE swap is rather interesting...



That could be the deeds for the PBS gone.
Noticed that as well. :hmmm:

Their next AGM could be interesting.

Andy74
19-02-2010, 02:25 PM
Noticed that as well. :hmmm:

Their next AGM could be interesting.

You know it won't be. They will be given a story that will amaze and delight the, and no further questions will be asked.

mim
19-02-2010, 02:25 PM
"He (Romanov) provides millions of pounds each season to support this club....."

Can anyone spot these millions in the last few years' accounts?

BEEJ
19-02-2010, 02:29 PM
You know it won't be. They will be given a story that will amaze and delight the, and no further questions will be asked.
Yes - the smoke and mirrors approach to corporate reporting and PR is the much more likely scenario.

Just wishful thinking on my part. :greengrin

Mikey
19-02-2010, 03:28 PM
"He (Romanov) provides millions of pounds each season to support this club....."

Can anyone spot these millions in the last few years' accounts?

Well someone's telling them lies.........


Remigijus Jurgelaitis, Mr Romanov's spokesman, said: ďThe decision not to pay dividends is not related to the club sponsorship matters. Mr Romanov has never financed the club from his own funds.

Taken from HERE (http://www.timesonline.co.uk/tol/news/uk/scotland/article6116175.ece).

Caversham Green
19-02-2010, 03:29 PM
Just reading the glibly worded statement on the Yams official site, the wording of the DfE swap is rather interesting...



That could be the deeds for the PBS gone.

What he's saying there is that the proposed DfE is tied in with the building of the stand, so it's not going to resolve the £17.6m question directly or indirectly. In fact it's not going to solve the debt problem in any way whatsoever and may indeed coincide with the transfer of ownership of the whole stadium.

On the one hand it makes absolute sense to raise equity finance to fund infrastructure spending. On the other, the all-singing, all-dancing stand is now going to be one that hums and shuffles its feet a bit. This will need new plans and a new planning application, while the £1.4m of Hearts' money that has already been spent will presumably be written off (not to mention the salary of the new director who was appointed specifically to oversee the development).

Given UBIG's track record with other stadium developments it ain't gonna happen today or tomorrow.

Sergey
19-02-2010, 09:57 PM
What he's saying there is that the proposed DfE is tied in with the building of the stand, so it's not going to resolve the £17.6m question directly or indirectly. In fact it's not going to solve the debt problem in any way whatsoever and may indeed coincide with the transfer of ownership of the whole stadium.

On the one hand it makes absolute sense to raise equity finance to fund infrastructure spending. On the other, the all-singing, all-dancing stand is now going to be one that hums and shuffles its feet a bit. This will need new plans and a new planning application, while the £1.4m of Hearts' money that has already been spent will presumably be written off (not to mention the salary of the new director who was appointed specifically to oversee the development).

Given UBIG's track record with other stadium developments it ain't gonna happen today or tomorrow.

Good summary, and as I said in my earlier post, the £17.6m simply won't disappear.

New plans....New application :yawn: I've categorically stated from my first ever posts on this forum that the whole Vlad thing is purely about gleaning a piece of real-estate and has absolutely sod-all to do with football.

It's so brazenly obvious and predictable.

It's stared them in the face for years, yet they've still given UBIG/Ukio/Vlad some mileage to come up with the goods.

I really hope that they die. While it's been a long and slow process, the end game is nigh.