Hearts/Rangers debts

[ekhibee]

I just wondered, I've read a lot of comments saying that Heart's debt is approx. £35 million. I've also read that Ranger's debt is about £30 million. Okay, this might sound like a stupid question, but does that mean Heart's debt is even bigger than Rangers? Maybe somebody could tell me if I've picked this up wrong.

[Removed]

I just wondered, I've read a lot of comments saying that Heart's debt is approx. £35 million. I've also read that Ranger's debt is about £30 million. Okay, this might sound like a stupid question, but does that mean Heart's debt is even bigger than Rangers? Maybe somebody could tell me if I've picked this up wrong.

That's a toughie. Sounds like one for Caversham or Sergey :agree:

[hibs0666]

I just wondered, I've read a lot of comments saying that Heart's debt is approx. £35 million. I've also read that Ranger's debt is about £30 million. Okay, this might sound like a stupid question, but does that mean Heart's debt is even bigger than Rangers? Maybe somebody could tell me if I've picked this up wrong.

That is the case, although the huns are haggling with the taxman just now, and may well owe home another £20-30 million.

Mind you the yaks are also being investigated - outcome as yet unknown.

[Dashing Bob S]

That is the case, although the huns are haggling with the taxman just now, and may well owe home another £20-30 million.

Mind you the yaks are also being investigated - outcome as yet unknown.

Hearts debts are different though, they are extremely fortunate that they only owe the debts to themselves, unlike Rangers, who owe it to the taxman and the RBS.

How do Hearts do this? Well, think of them as the protagonist in the Joan Armatrading classic 'Me Myself I'. Me is HMFC, the football team, myself is a Lithuanian conglomerate UBIG, and I is a Lithuanian Bank, UKIOS.

They have just one real boss, Mr Romanov, who basically switches the debt around between them. It's a bit like what some people do with Visa, MasterCard and Amex.

If only silly Scottish businessmen like David Murray had adopted foolproof and innovative practises like Mr Romanov, Rangers would be in fine fettle now.

So Vlads business model rules: nothing could possibly ever go wrong with it. Suppose it's called Armatrading your way out of debt.

[Ozyhibby]

This also shows that Hearts are a BIG team with BIG team debts.

[RoscoHibby]

Sure I read recently that the currant buns could be stung by up to £50m by HMRC, its around £38m they are being investigated for, but if they appeal/take it to court and lose, its like another £13-14m they're due. And we can only hope and pray thats the case. Think they will struggle this season, and a few more to come. Which is nice.

For all we know, the yaks could be even more in the brown stuff than wee know about, info we currently have 'published accounts' ahem, but really, I'd be surprised if vlad wasn't employing some 'creative accounting' with them too.

So to answer the question, IMO, they are both completely donald ducked for the forseeable :bye: making this hibby very happy indeed!

[James70]

Hearts debts are different though, they are extremely fortunate that they only owe the debts to themselves, unlike Rangers, who owe it to the taxman and the RBS.

How do Hearts do this? Well, think of them as the protagonist in the Joan Armatrading classic 'Me Myself I'. Me is HMFC, the football team, myself is a Lithuanian conglomerate UBIG, and I is a Lithuanian Bank, UKIOS.

They have just one real boss, Mr Romanov, who basically switches the debt around between them. It's a bit like what some people do with Visa, MasterCard and Amex.

If only silly Scottish businessmen like David Murray had adopted foolproof and innovative practises like Mr Romanov, Rangers would be in fine fettle now.

So Vlads business model rules: nothing could possibly ever go wrong with it. Suppose it's called Armatrading your way out of debt.


Superb!! :faf::top marks

[Shaggy]

the big get out of jail card for rangers is its potential earning power. Unfortuneatly they have literally millions of fans... sad but true..... but on the bright side hearts have absolutely NO CHANCE of trading themselves out of debt :greengrin
Unless Vlad turns out to be Santa Claus instead of Satan........hearts will dwindle into to the dark..




hee hee:bye:

[Leithenhibby]

Hearts debts are different though, they are extremely fortunate that they only owe the debts to themselves, unlike Rangers, who owe it to the taxman and the RBS.

How do Hearts do this? Well, think of them as the protagonist in the Joan Armatrading classic 'Me Myself I'. Me is HMFC, the football team, myself is a Lithuanian conglomerate UBIG, and I is a Lithuanian Bank, UKIOS.

They have just one real boss, Mr Romanov, who basically switches the debt around between them. It's a bit like what some people do with Visa, MasterCard and Amex.

If only silly Scottish businessmen like David Murray had adopted foolproof and innovative practises like Mr Romanov, Rangers would be in fine fettle now.

So Vlads business model rules: nothing could possibly ever go wrong with it. Suppose it's called Armatrading your way out of debt.


"I sit here by myself and you know I love it"......:faf: :top marks

[greenginger]

[QUOTE=****gy;2514915]the big get out of jail card for rangers is its potential earning power. Unfortuneatly they have literally millions of fans... sad but true..... but on the bright side hearts have absolutely NO CHANCE of trading themselves out of debt :greengrin
Unless Vlad turns out to be Santa Claus instead of Satan........hearts will dwindle into to the dark..



Yeah, the second debt for equity swop by UBIG to reduce the Yams debt mountain seems to have dropped off the radar.
Santa Vlad has only a couple of weeks left to save the financial embarrassment of set of " Qualified Accounts ".

[matty_f]

Hearts debts are different though, they are extremely fortunate that they only owe the debts to themselves, unlike Rangers, who owe it to the taxman and the RBS.

How do Hearts do this? Well, think of them as the protagonist in the Joan Armatrading classic 'Me Myself I'. Me is HMFC, the football team, myself is a Lithuanian conglomerate UBIG, and I is a Lithuanian Bank, UKIOS.

They have just one real boss, Mr Romanov, who basically switches the debt around between them. It's a bit like what some people do with Visa, MasterCard and Amex.

If only silly Scottish businessmen like David Murray had adopted foolproof and innovative practises like Mr Romanov, Rangers would be in fine fettle now.

So Vlads business model rules: nothing could possibly ever go wrong with it. Suppose it's called Armatrading your way out of debt.

:top marks :faf::faf;

Superb post DBS.:agree:

[Jack]

the big get out of jail card for rangers is its potential earning power. Unfortuneatly they have literally millions of fans... sad but true..... but on the bright side hearts have absolutely NO CHANCE of trading themselves out of debt :greengrin
Unless Vlad turns out to be Santa Claus instead of Satan........hearts will dwindle into to the dark..




hee hee:bye:

They’ve millions of fans but if my fag packet calculations are anywhere near accurate they’ll need 100s of millions of fans!

Debt to bank >> £30m (although I understand this has come down a bit)
Tax man >> £35m being investigated
Tax man >> £15m penalties (that’s one penalty I don’t mind them getting)

Personal debt to
Murray >> £60m
Others >> £80m (I cant remember their names but it’s a £20m plus a £60m to two folk)

Now Rangers debt looks a lot worse cause that’s a whopping £220,000,000

The personal debt might not be a problem, a bit like the Yams owing it to themselves but its not been written off so is still there, while its there who else will lend them the millions only their fans think they deserve?


And they cant understand why no-one but a shark wants to buy them :rolleyes:

[sh00byd00]

If you're not taking the piss, which i think you are, i'd like to know where you came up with that 220,00,000 figure. I'm calling shenanigans. It has no more basis to it than me randomly coming on here stating Dundee Utd are £75,000,000 in debt all because i worked it out on a fag packet and a mate's mate told be stuff down the pub.

[Betty Boop]

Burnley have accepted a 'substantial' bid from Rangers for Chris Eagles. How can they afford this if they are in so much debt ?

[Pretty Boy]

I just wondered, I've read a lot of comments saying that Heart's debt is approx. £35 million. I've also read that Ranger's debt is about £30 million. Okay, this might sound like a stupid question, but does that mean Heart's debt is even bigger than Rangers? Maybe somebody could tell me if I've picked this up wrong.

I would say that Hearts are probably in an even worse position than your figures suggest given that they will have a turnover which is significantly less than Rangers.

[Danderhall Hibs]

I just wondered, I've read a lot of comments saying that Heart's debt is approx. £35 million. I've also read that Ranger's debt is about £30 million. Okay, this might sound like a stupid question, but does that mean Heart's debt is even bigger than Rangers? Maybe somebody could tell me if I've picked this up wrong.

:agree: 35 has always been a bigger number than 30.

:greengrin

[ancienthibby]

Burnley have accepted a 'substantial' bid from Rangers for Chris Eagles. How can they afford this if they are in so much debt ?

Maybe because they've sold Katie for so much??:greengrin

[Big Frank]

Hearts debts are different though, they are extremely fortunate that they only owe the debts to themselves, unlike Rangers, who owe it to the taxman and the RBS.

How do Hearts do this? Well, think of them as the protagonist in the Joan Armatrading classic 'Me Myself I'. Me is HMFC, the football team, myself is a Lithuanian conglomerate UBIG, and I is a Lithuanian Bank, UKIOS.

They have just one real boss, Mr Romanov, who basically switches the debt around between them. It's a bit like what some people do with Visa, MasterCard and Amex.

If only silly Scottish businessmen like David Murray had adopted foolproof and innovative practises like Mr Romanov, Rangers would be in fine fettle now.

So Vlads business model rules: nothing could possibly ever go wrong with it. Suppose it's called Armatrading your way out of debt.

Top Banana :top marks

[Betty Boop]

Maybe because they've sold Katie for so much??:greengrin

Aw right ! :greengrin

[Kaiser_Sauzee]

Hearts debts are different though, they are extremely fortunate that they only owe the debts to themselves, unlike Rangers, who owe it to the taxman and the RBS.

How do Hearts do this? Well, think of them as the protagonist in the Joan Armatrading classic 'Me Myself I'. Me is HMFC, the football team, myself is a Lithuanian conglomerate UBIG, and I is a Lithuanian Bank, UKIOS.

They have just one real boss, Mr Romanov, who basically switches the debt around between them. It's a bit like what some people do with Visa, MasterCard and Amex.

If only silly Scottish businessmen like David Murray had adopted foolproof and innovative practises like Mr Romanov, Rangers would be in fine fettle now.

So Vlads business model rules: nothing could possibly ever go wrong with it. Suppose it's called Armatrading your way out of debt.

:greengrin

[Jack]

If you're not taking the piss, which i think you are, i'd like to know where you came up with that 220,00,000 figure. I'm calling shenanigans. It has no more basis to it than me randomly coming on here stating Dundee Utd are £75,000,000 in debt all because i worked it out on a fag packet and a mate's mate told be stuff down the pub.

The £30m isn’t really up for discussion, its quite well known about.

The tax debt has been well publicised a couple of months ago, even the Scotsman had in ranging from £24m to £54m.

Also...
Latest accounts for Murray Sports, the vehicle used by the former Rangers chairman for his football holding, show the accumulated interest on loan notes payable to Murray Group Holdings in the event of a takeover of Rangers has risen from £44m to almost £48m, on top of the £60.6m loan. [Herald 15th April 2010]

So that’s another £48m :cool2:

The other personal loans I read about some months ago when the tax thing came to light, cant find a link.

But even if these other loans are a whole load of doo doo, or they have been moved elsewhere in the Murray empire, we’re still talking about £192,000,000.

[lapsedhibee]

:agree: 35 has always been a bigger number than 30.


:hmmm: First principle of yamathematics: A number can be as big or small as you want it to be.

[Dashing Bob S]

Burnley have accepted a 'substantial' bid from Rangers for Chris Eagles. How can they afford this if they are in so much debt ?

Don't want to ruffle any feathers, but it shows that Smith still has a sharp eye for a player and can ruthlessly swoop when he wants. I suspect the player has a claws to let him go if a certain amount is offered. After all, he must already have a decent nest egg from his premiership spell.

I just prey the deal falls through. Going to stop this now before I get in a right flap!

[James70]

I'm sure the Huns fans will be in raptors over this news, sounds a bit erie to me!

[Dashing Bob S]

I'm sure the Huns fans will be in raptors over this news, sounds a bit erie to me!

Aivary decent signing if it comes off.

[down the slope]

One mistake and he will be up in front of the beak ! .

[Kato]

Don't want to ruffle any feathers, but it shows that Smith still has a sharp eye for a player and can ruthlessly swoop when he wants. I suspect the player has a claws to let him go if a certain amount is offered. After all, he must already have a decent nest egg from his premiership spell.

I just prey the deal falls through. Going to stop this now before I get in a right flap!

Who asked you to shove yer beak in?

[Betty Boop]

Don't want to ruffle any feathers, but it shows that Smith still has a sharp eye for a player and can ruthlessly swoop when he wants. I suspect the player has a claws to let him go if a certain amount is offered. After all, he must already have a decent nest egg from his premiership spell.

I just prey the deal falls through. Going to stop this now before I get in a right flap!

:greengrin

[Caversham Green]

Don't want to ruffle any feathers, but it shows that Smith still has a sharp eye for a player and can ruthlessly swoop when he wants. I suspect the player has a claws to let him go if a certain amount is offered. After all, he must already have a decent nest egg from his premiership spell.

I just prey the deal falls through. Going to stop this now before I get in a right flap!

:agree: A very talon-ted player.

[The Silver Fox]

Hearts debt is potentially much worse. At the end of the day Rangers are slightly attractive to a buyer, they have a massive support and it swells ever bigger when they are in finals (glory hunter factor).

Hearts do not have the same attraction, they do not have potential buyers, no one will take on that debt and Vlad one day will be locked up. If he is remotely as stupid at banking as he is running Hearts then his other business intrests will collapse shortly.

It doesn't seem so long ago he was compared Roman Abramovich. Nobody says that much anymore??

[Dashing Bob S]

"I sit here by myself and you know I love it"......:faf: :top marks

Wouldn't that make a great sticky for any Yam who comes on here?

I wonder if the DJ at ER could be persuaded to play that song before derbies.