Yams not paid again/Hearts for sale

[hibs0666]

Today was no-pay-day. :wink:

I can see the players getting terribly agitated about this and, as usual, do hee-haw about it because they know that no other bam would be daft enough to pay them yam-type salaries.

[Cropley10]

Are you saying they were due to be paid and haven't? Or are you saying they're just due to be paid today? :confused:

[hibs0666]

Are you saying they were due to be paid and haven't? Or are you saying they're just due to be paid today? :confused:

BBC and STV reporting that the first-team wages due to have been paid today have not been received.

[Supraninja]

http://sport.stv.tv/football/scottish-premier/hearts/279576-hearts-players-wages-overdue-for-second-month/

I find link.

[Beefster]

Least surprising news of the year.

The players will, anonymously, bleat to the press whilst doing the square root of hee-haw.

[poolman]

BBC and STV reporting that the first-team wages due to have been paid today have not been received.


Instead of a new 10 page thread on this can we not just resurrect an old one about the Yams not gettin paid, there's bound to have been a few :greengrin

[Cropley10]

Instead of a new 10 page thread on this can we not just resurrect an old one about the Yams not gettin paid, there's bound to have been a few :greengrin

:agree: and merge them all in to one mega-thread?

[MSK]

Least surprising news of the year.

The players will, anonymously, bleat to the press whilst doing the square root of hee-haw.Looks like someone has already done that ..vlads lie detector must be in overdrive right now ...:agree:

[Spike Mandela]

This time I have to say it serves them right the spineless lot of them. They had the chance to get the SPL, SFA and Players Union involved the last time but they bottled it.

If they had balls at all they wouldn't accept even an hours delay in their pay this time but I doubt they have it in them.

[GloryGlory]

Vlad knows from the players' supine response to previous non-payment just how far he can go. Is anyone surprised that he is taking advantage?

Cue next month and the month after, same story....

[Www1875hfc]

Must be finding the funds really difficult to come by just now after a few weeks without a home fixture. :greengrin

Still,nothing to worry about chaps,this happens at all the BIG clubs seemingly?



Tick Tock.

[magpie1892]

This time I have to say it serves them right the spineless lot of them. They had the chance to get the SPL, SFA and Players Union involved the last time but they bottled it.

If they had balls at all they wouldn't accept even an hours delay in their pay this time but I doubt they have it in them.

I dunno. I think they'll get stuck in this time if it's more than a few days late.

[Andy74]

It's happened before but it's all adding up to a serious cash problem in Vlad's businesses.

What a shame.

[Geo_1875]

Can't we just set up a reminder for the 16th of every month and bump this story instead of going through the whole thing again?

[Jack]

Can't we just set up a reminder for the 16th of every month and bump this story instead of going through the whole thing again?

You're an IT guy, why don’t you just set it up. :rolleyes:

While you're at it can you do me an auto text for when anyone mentions ‘Hibs’ AND ‘cheap option’ so that once again the myth can be dispelled? :devil:

[Moulin Yarns]

Hertz players not being paid according to the BBC just now

[poolman]

Hertz players not being paid according to the BBC just now


Keep up PH :greengrin

[BEEJ]

Perhaps pay-day delays will now become a monthly event at the PBS as a means of Vlad 'encouraging' the higher paid players to seek new clubs in the January window.

Whatever the reason it's an utter travesty over yonder and I can barely bring myself to look on...........







:faf:

[Moulin Yarns]

Keep up PH :greengrin

Sorry but i'm working and have been ootanaboot so maybe missed previous bulletins.

[itchy07]

What are they moaning about! They only got paid last week, surely they can't of spent it all already! Nothing to see here, move along. We just don't understand how big club finance works.

[MB62]

Perhaps pay-day delays will now become a monthly event at the PBS as a means of Vlad 'encouraging' the higher paid players to seek new clubs in the January window.

Whatever the reason it's an utter travesty over yonder and I can barely bring myself to look on...........

:faf:

Maybe we could try and entice Sutton to us in January, seeing as G.O'C is going to either America or Saughton, apparently. :wink:

[YehButNoBut]

From todays BBC website http://news.bbc.co.uk/sport1/hi/football/15757782.stm

:******:

Hearts again fail to pay first-team players on timeHearts' first-team squad have not been paid their monthly salaries.

It is the second month in succession that the Tynecastle players have been late in receiving their wages from the club (http://www.hibs.net/sport1/hi/football/15600052.stm), which is more than £30m in debt.

The players had to wait 19 days for last month's pay but were persuaded not to complain to the Scottish Premier League by manager Paulo Sergio. Hearts, who are refusing to comment on the reason for the latest delay, are looking to reduce operating costs.

Earlier this month owner Vladimir Romanov indicated that he would consider selling the club (http://www.hibs.net/sport1/hi/football/15612850.stm), and a Tynecastle statement revealed that spending on players would fall.
"Hearts must prepare to reduce investment in the playing squad to match the income in the coming season and turn to the Academy for its new additions," read a statement on the club's website.

[PatHead]

Would have been more surprised if they had been paid on time.

[Liam_Hibs]

This is comical! What an embarrassment.. :agree:

[poolman]

What are they moaning about! They only got paid last week, surely they can't of spent it all already! Nothing to see here, move along. We just don't understand how big club finance works.<br><br><br>http://i40.tinypic.com/bybg8.jpg[/IM


[IMG]http://i40.tinypic.com/bybg8.jpg

[allezsauzee]

To be fair it's only 2 weeks since their last wage. I'm sure they can flog a few medals to make up any shortfall as well

[mixumatosis]

It's like the campfire scene in Blazing Saddles. No matter how many times I see this, it's still funny.

[Heraghty's]

Probably nothing to do with this (from Bloomberg financial news website):

Lithuanian bank shares dropped to the lowest in a month after a media reports about prosecutors planning investigations into suspected dealings at a local bank.
AB Snoras Bankas shares fell as much as 4.1 percent today to 0.234 euros ($0.31), while AB Ukio Bankas (UKB1L) (http://www.bloomberg.com/apps/quote?ticker=UKB1L:LH) dropped 3.39 percent to 0.228 euros at 2:22 p.m. in Vilnius. AB Siauliu Bankas (SAB1L) (http://www.bloomberg.com/apps/quote?ticker=SAB1L:LH) traded at 0.285 euros, down 2.06 percent. The Nasdaq OMX Vilnius index fell 0.85 percent.
Lithuania’s largest newspaper Lietuvos Rytas (http://www.lrytas.lt/), which is owned by Snoras’ subsidiary, cited unidentified people as saying prosecutors are planning a probe at an unnamed bank. The Prosecutor General’s office denied the media report on its website today, while the central bank called for the rejection of “irresponsible” “speculation about banking stability.” :wink:

[LeithBoozy]

Maybe Vlad has decided to pay them quarterly and fogot to tell them, worrying times at Gorgie.

[Dashing Bob S]

We've been going on about this for years, but it's evident that things have changed drastically from the old days of 'operational difficulties' declarations to 'we have to sell our players'.

Hearts as a business transparently don't have the money to pay there employees, and it's now evident than Romanov either won't pay (or worse, can't, as in doesn't have) money from his Lithuanian concerns to honour contracts.


I know we've been sitting back and enjoying this ride for ages, and although there have been innumerable frustrating endings, it really does now seem like its time to jostle for those ringside seats and enjoy this saga unfolding over the next few months.


in the meantime, i'd just like to wish all my Jambo pals a merry christmas and happy new year.

[Baader]

Surely the Council have set aside taxpayers' money for this regular event...

[Nailrod]

We've been going on about this for years, but it's evident that things have changed drastically from the old days of 'operational difficulties' declarations to 'we have to sell our players'.

Hearts as a business transparently don't have the money to pay there employees, and it's now evident than Romanov either won't pay (or worse, can't, as in doesn't have) money from his Lithuanian concerns to honour contracts.


I know we've been sitting back and enjoying this ride for ages, and although there have been innumerable frustrating endings, it really does now seem like its time to jostle for those ringside seats and enjoy this saga unfolding over the next few months.


in the meantime, i'd just like to wish all my Jambo pals a merry christmas and happy new year.

:faf:

[Nailrod]

Chant for the derby game (while waving pound coin):

"Come and have a pound if you think you're poor enough!"

[steakbake]

We've been going on about this for years, but it's evident that things have changed drastically from the old days of 'operational difficulties' declarations to 'we have to sell our players'.

Hearts as a business transparently don't have the money to pay there employees, and it's now evident than Romanov either won't pay (or worse, can't, as in doesn't have) money from his Lithuanian concerns to honour contracts.


I know we've been sitting back and enjoying this ride for ages, and although there have been innumerable frustrating endings, it really does now seem like its time to jostle for those ringside seats and enjoy this saga unfolding over the next few months.


in the meantime, i'd just like to wish all my Jambo pals a merry christmas and happy new year.

Hand me a cup of tea and a biscuit.

[GlesgaeHibby]

"The club is experiencing an income shortfall due to lower than expected transfer monies. Our future funding is secure but requires time to be organised."The club also unfortunately failed to reach agreement with HMRC which would have allowed it time to pay a tax bill in excess of £1million, that was settled in full yesterday."As such we are currently looking at options to identify new income opportunities and obtain funding for the players' salaries."

:faf:

They are donald ducked!!

http://www.heartsfc.co.uk/articles/20111116/salary-update_2241384_2517740

[R'Albin]

"The club is experiencing an income shortfall due to lower than expected transfer monies. Our future funding is secure but requires time to be organised."The club also unfortunately failed to reach agreement with HMRC which would have allowed it time to pay a tax bill in excess of £1million, that was settled in full yesterday."As such we are currently looking at options to identify new income opportunities and obtain funding for the players' salaries."

:faf:

They are donald ducked!!

http://www.heartsfc.co.uk/articles/20111116/salary-update_2241384_2517740

:faf:

[Judas Iscariot]

It's all part of their Sponsorship deal with Wonga..

[HibeeMG]

"The club is experiencing an income shortfall due to lower than expected transfer monies. Our future funding is secure but requires time to be organised."The club also unfortunately failed to reach agreement with HMRC which would have allowed it time to pay a tax bill in excess of £1million, that was settled in full yesterday."As such we are currently looking at options to identify new income opportunities and obtain funding for the players' salaries."

:faf:

They are donald ducked!!

http://www.heartsfc.co.uk/articles/20111116/salary-update_2241384_2517740

You forgot the bit at the bottom:


On new-look HeartsTV today, Mehdi Taouil replies to fans' Facebook queries in an exclusive Q&A session.

I wonder if he'll be asking the Hearts fans how to go about applying for a crisis loan! :greengrin

[PatHead]

Even Hearts are admitting it is serious- ya dancer!!!!!!!!!!

Wonder who else is due money and what to do on January 2nd now.

[Andy74]

"The club is experiencing an income shortfall due to lower than expected transfer monies. Our future funding is secure but requires time to be organised."The club also unfortunately failed to reach agreement with HMRC which would have allowed it time to pay a tax bill in excess of £1million, that was settled in full yesterday."As such we are currently looking at options to identify new income opportunities and obtain funding for the players' salaries."

:faf:

They are donald ducked!!

http://www.heartsfc.co.uk/articles/20111116/salary-update_2241384_2517740

Here boys and girls is the definition of 'having to sell players' as opposed to us choosing to sell players when the time and price is right.

They rely on transfer income just to keep huge losses 'manageable' and to allow finance for things such as salalries. Mental.

[mglancy23]

:spider:
"The club is experiencing an income shortfall due to lower than expected transfer monies. Our future funding is secure but requires time to be organised."The club also unfortunately failed to reach agreement with HMRC which would have allowed it time to pay a tax bill in excess of £1million, that was settled in full yesterday."As such we are currently looking at options to identify new income opportunities and obtain funding for the players' salaries."

:faf:

They are donald ducked!!

http://www.heartsfc.co.uk/articles/20111116/salary-update_2241384_2517740

:thumbsup::cb:dj::faf::flag::hibees:thumbsup:

[HibeeMG]

I have to say that I'm a little disappointed that we didn't get a faxed statement from the Mad One.

I wonder if someone's going to get the summons to Lithuania for putting out a truthful statement.

[ScottB]

So they paid HMRC £500k last month, then owed them a further £1million this month? How much do they actually owe then?

Basically it sounds like they had to scrape every last penny together to keep the taxman from shutting the doors, and now there's nothing left...

[DaveF]

No money for current things like salaries, yet future funding is secure :confused:

So that future security will be any dough raised from Templeton and anyone else they can whore to the OF.

Totally Bonkers.

[Barney McGrew]

"As such we are currently looking at options to identify new income opportunities and obtain funding for the players' salaries."

Cue another fire sale at the church hall before their next home game :tee hee:

I wonder what other 'opportunities' we could think of to help them out? :greengrin

[Cabbage East]

Bit disappointed there's no statement from Mr Romanov.

[GloryGlory]

Is there not a contradiction in that statement?

First sentence - looking to pay wages soon.

Later on - "As such we are currently looking at options to identify new income opportunities and obtain funding for the players' salaries."

How can they say they will pay wages soon if they have to look at income opportunities to generate funding?

[brog]

Cheerio, cheerio, cheerio!! All together now! :bye:

[GloryGlory]

No money for current things like salaries, yet future funding is secure :confused:

So that future security will be any dough raised from Templeton and anyone else they can whore to the OF.

Totally Bonkers.

Their pals at CEC will make sure of that!

[PaulSmith]

I hope that they aren't trading whilst insolvent...

[PatHead]

In the best words of Dad's Army

They are doomed I tell you, doomed :agree:

:bye: :na na::thumbsup:

[Kaiser1962]

I know we've been sitting back and enjoying this ride for ages, and although there have been innumerable frustrating endings, it really does now seem like its time to jostle for those ringside seats and enjoy this saga unfolding over the next few months.

Unfortunately when these things go they tend to do so at a rate of knots. When the button is pressed you are talking weeks at best, probably days.

[greenginger]

What is the chances they are up to date with their Business Rates due to our Council ? Absolutely None.

Where's Cardownie now ? Have they paid their share of the Report which said the PBS was'nt fit for human habitation. ?


I think the Council Tax Payers deserve to be told ! :aok:

[PatHead]

Unfortunately when these things go they tend to do so at a rate of knots. When the button is pressed you are talking weeks at best, probably days.

and with any luck hours or even minutes. Tick, tock

[Dashing Bob S]

Hand me a cup of tea and a biscuit.

Consider it done. Earl Grey okay?

[Lucius Apuleius]

Consider it done. Earl Grey okay?

Personally I have just sat down with a nice little Camomile brew to watch these wonderful events unfold.:greengrin

[hibs0666]

Is there not a contradiction in that statement?

First sentence - looking to pay wages soon.

Later on - "As such we are currently looking at options to identify new income opportunities and obtain funding for the players' salaries."

How can they say they will pay wages soon if they have to look at income opportunities to generate funding?

Church hall jumble sale time I reckon. :wink:

[Billy Whizz]

Church hall jumble sale time I reckon. :wink:


Maybe pick up a couple of players on the cheap:rolleyes:

[mixumatosis]

That's a pretty staggering statement.

Since they've already stated that they will have to look to the academy for future additions to the first team squad it amounts to saying that they must produce a consistent supply of saleable assets (young players) in order to fund the wages of the current first team squad. If the assets they produce turn out not to be saleable (ie. they produce crap young players), or the market for such assets crashes (ie. everyone knows they are skint so refuses to offer more than one of Colin's bags of sweeties), they are insolvent.

That's not a strong business plan.

I'm not saying any of this is news to anyone here, but for a club who would usually make the Stasi seem open and accountable it marks a pretty remarkable admission from those in charge.

[Nailrod]

"The club is experiencing an income shortfall due to lower than expected transfer monies. Our future funding is secure but requires time to be organised."The club also unfortunately failed to reach agreement with HMRC which would have allowed it time to pay a tax bill in excess of £1million, that was settled in full yesterday."As such we are currently looking at options to identify new income opportunities and obtain funding for the players' salaries."

Expect a larger than usual number of Lithuanian pickpockets operating in the Hibs stands on derby day...

[mglancy23]

Wonder when mad Vlad will annoucne a 5 year season ticket deal?

:faf::titanic:

[Kaiser1962]

and with any luck hours or even minutes. Tick, tock


I can tell you're racked with tension and anxiety as to the fate of our neighbours. There are telephone helplines you can use if it gets too much. :greengrin

[robinp]

http://www.financialdirector.co.uk/IMG/248/119248/charity-tin-370x229.jpg?1288107711

[PatHead]

My take on their website is

The club is experiencing an income shortfall due to lower than expected transfer monies. Our players are crap, no one wanted them last time round and Rangers haven't paid us for Wallace yet
Our future funding is secure but requires time to be organised. Business speak for the Bank (which we own by the way) won't extend our overdraft
The club also unfortunately failed to reach agreement with HMRC which would have allowed it time to pay a tax bill in excess of £1million, that was settled in full yesterday. HMRC are wise to us now and we have towonder who we can bump for the time being.
As such we are currently looking at options to identify new income opportunities and obtain funding for the players' salaries.We are desperate does anyone want to help!



This could be the best Christmas ever............................................

http://www.heartsfc.co.uk/articles/20111116/salary-update_2241384_2517740[/QUOTE]

[ScottB]

No money for current things like salaries, yet future funding is secure :confused:

So that future security will be any dough raised from Templeton and anyone else they can whore to the OF.

Totally Bonkers.

Thing is though, they will have to pay these guys before January, or they will break their contracts and saunter off on their own.

Wouldn't surprise me if they stopped paying anyone that wasn't deemed a saleable asset to save funds, letting them break their contracts now, then try and sell the Templeton / Driver type player in January, leaving them with the Youth team basically.


If they lack the cash to pay anyone, they won't have anyone to sell in January, as the ones that are worth anything will be the ones likeliest to break their contracts, as they won't fear not getting another club.

[Kojock]

I find this thread in extremely bad taste. Laughing at people who have not recieved their salary for the 2nd month running is a disgrace and certainly not Hibs class. These people have children to feed and bills need to be paid, It goes against my principles to take any pleasure or satisfaction out of the situation the players find themselves in.













But in this case I am prepared to make an exception.

GIRUY YA YAM TRUMPETS:faf::faf::hahaha::hahaha::lolyam::lolyam:

[Kaiser1962]

My take on their website is

The club is experiencing an income shortfall due to lower than expected transfer monies. Our players are crap, no one wanted them last time round and Rangers haven't paid us for Wallace yet



Nor are they likely to anytime soon, certainly not until after a decision of the tax case and, if that goes against them, the Wallace money comes into the category of "Not a Hope in Hell" and gets lost with the rest when the club go bust.


Which, incidentally, would be the same reason Hearts are using (pay the taxman) for not paying the players wages. Which also sounds suspiciously like the reason they used last month.

Oh joy of joys :thumbsup:

[Andy74]

Thing is though, they will have to pay these guys before January, or they will break their contracts and saunter off on their own.

Wouldn't surprise me if they stopped paying anyone that wasn't deemed a saleable asset to save funds, letting them break their contracts now, then try and sell the Templeton / Driver type player in January, leaving them with the Youth team basically.


If they lack the cash to pay anyone, they won't have anyone to sell in January, as the ones that are worth anything will be the ones likeliest to break their contracts, as they won't fear not getting another club.

Maybe but I do think that even if it is delayed, Ubig will find a way to move some cash about to get some over here. If their management of Hearts is anyhting to go by they don't really care about debt and will just create a problem somewhere else for a period until they can move that too.

[Mikey]

If they hadn't been fiddling the tax in the first place they wouldn't be in a position where they're having to find lump sums of £0.5m and £1m at a time.

Has Campbell Ogilvie still got a top job in Scottish football? He's totally ****ed up both Rangers and Hearts.

I must remember to buy him a pint if our paths ever cross :greengrin




in the meantime, i'd just like to wish all my Jambo pals a merry christmas and happy new year.

Come off it Bob, you're just like me.

You haven't got any Jambo pals :aok:

[ScottB]

If they hadn't been fiddling the tax in the first place they wouldn't be in a position where they're having to find lump sums of £0.5m and £1m at a time.

Has Campbell Ogilvie still got a top job in Scottish football? He's totally ****ed up both Rangers and Hearts.

I must remember to buy him a pint if our paths ever cross :greengrin


Vice President at the SFA isn't he? The same job as his polar opposite, the Iron Mouser himself.

How Ogilvie is still in work, and not the subject of criminal proceedings is beyond me, at the least complicit in the same scam at two different clubs...

[down the slope]

What about this trumpet on Keekback


Romanov has the money, he's a smart guy though. He's trying to get rid of the high earners from the club by deliberately not paying them on time. This will make the Agents think the club's going bust which will mean they will go looking for new clubs and then eventually we'll get rid of the high earners off of the wage bills! And that's straight from someone inside Tynecastle, why do you think the non-playing staff(office workers etc) always get paid on time? And why do you think the youngsters are going out on loan? He's fed up putting money into the club for high earners, he'll be trying to get the youngsters playing well so he can sell them for a greater price in the later on years.

They are nuts , we all knew you have to be a bit Haigs to follow the yams but this just proves it !.

[Nailrod]

Balancing Hearts books at the moment must be like juggling turds - desperately trying not to drop any, while doing your level best to avoid catching any...

Hey mods - can we have a new 'turdjuggler' smiley in the jambo section?

[Beefster]

Vice President at the SFA isn't he? The same job as his polar opposite, the Iron Mouser himself.

How Ogilvie is still in work, and not the subject of criminal proceedings is beyond me, at the least complicit in the same scam at two different clubs...

President. He took over this year.

[sauzee1966]

Now I am not an expert at all this but if COMPANY. CANNOT MEET ITS OBLIGATIONS and does not have sufficient funds to service its debt ( ie Woolworths, Habitat, Gretna FC etc ) the surely the company is insolvent. Salaries are a fundamental and usually largest outgoing for any business. If these cannot be paid then they are trading while insolvent. If they owed real money to any other institution the chains would be on the gates. Surely the SPL / SFA have rules on trading for clubs..... Finally they have admitted the issues we all know about. It will only take one creditor to get nervy...and and the pack of cards will tumble. Anyone owed money by the yams??? If you do claim it pronto before all assets are gone ( do they actually own any assets???? )


Poor wee souls...Brokeback will implode tonight!!






"The club is experiencing an income shortfall due to lower than expected transfer monies. Our future funding is secure but requires time to be organised."The club also unfortunately failed to reach agreement with HMRC which would have allowed it time to pay a tax bill in excess of £1million, that was settled in full yesterday."As such we are currently looking at options to identify new income opportunities and obtain funding for the players' salaries."

:faf:

They are donald ducked!!

http://www.heartsfc.co.uk/articles/20111116/salary-update_2241384_2517740

[Dashing Bob S]

If they hadn't been fiddling the tax in the first place they wouldn't be in a position where they're having to find lump sums of £0.5m and £1m at a time.

Has Campbell Ogilvie still got a top job in Scottish football? He's totally ****ed up both Rangers and Hearts.

I must remember to buy him a pint if our paths ever cross :greengrin




Come off it Bob, you're just like me.

You haven't got any Jambo pals :aok:


I'm using 'pals' in the ironic way, Mikey, (think Gary Numan's Are 'Friends' Electric). Obviously what I really mean is 'social inadequates and mental ******s who waste valuable oxygen'.


Would love to see Campbell O at Parkhead next.

[TheBall'sRound]

Nor are they likely to anytime soon, certainly not until after a decision of the tax case and, if that goes against them, the Wallace money comes into the category of "Not a Hope in Hell" and gets lost with the rest when the club go bust.


Which, incidentally, would be the same reason Hearts are using (pay the taxman) for not paying the players wages. Which also sounds suspiciously like the reason they used last month.

Oh joy of joys :thumbsup:

Just to be clear - paying the taxman for most companies isn't that big a deal, especially when the company has no Corporation tax to pay due to running a fairly horrific string of tax losses. In this case it can only be withheld PAYE which all of us "employed" people have deducted from our salaries each month.

So basically it's tax they collect on the Revenue's behalf which really doesn't belong to them. It's the players' own income tax contributions that Hearts keep moaning about (and tried to avoid) paying!

The principle is the same if it's a VAT bill - it isn't their money so they shouldn't be spending it! Any tiny iota of sympathy you may have for this diseased arse of a club should be redirected to the (few) modestly paid, honest players who keep missing bill payments and can't rely on a steady income from their "world famous" employers.

[Beefster]

How long until City of Edinburgh Council steps in with a large emergency, non-repayable, loan for an important Edinburgh employer?

[Kaiser1962]

Just to be clear - paying the taxman for most companies isn't that big a deal, especially when the company has no Corporation tax to pay due to running a fairly horrific string of tax losses. In this case it can only be withheld PAYE which all of us "employed" people have deducted from our salaries each month.

So basically it's tax they collect on the Revenue's behalf which really doesn't belong to them. It's the players' own income tax contributions that Hearts keep moaning about (and tried to avoid) paying!

The principle is the same if it's a VAT bill - it isn't their money so they shouldn't be spending it! Any tiny iota of sympathy you may have for this diseased arse of a club should be redirected to the (few) modestly paid, honest players who keep missing bill payments and can't rely on a steady income from their "world famous" employers.


I know all this:wink:

I have no sympathy for them whatsoever and they are, indeed, humanity's hemorrhoids. :greengrin

[nortonhibby]

Today was no-pay-day. :wink:

I can see the players getting terribly agitated about this and, as usual, do hee-haw about it because they know that no other bam would be daft enough to pay them yam-type salaries.

The end is in sight now for them mad vlad is for the offski and the pbs is rusting away to nothing and the asbestos stand will soon be closed its a health hazard.

[Mikey]

diseased arse of a club


:hilarious

[PaulSmith]

Whereswallace? I feel another stunt surely

[Nailrod]

Maybe but I do think that even if it is delayed, Ubig will find a way to move some cash about to get some over here. If their management of Hearts is anyhting to go by they don't really care about debt and will just create a problem somewhere else for a period until they can move that too.

There's a limit to how long you can play that game Andy, and cash is obviously getting tortuously tight in Vladville. Bear in mind that Hearts are a complete dog. Since the day Vlad took over they've eaten money. There is no longer any earthly prospect of Ubig/Ukio getting back the money they've poured in. With the state of the Euro-economy it could be that Ukio/Ubig are very close to the edge, and Vlad will certainly not throw any cash away on Hearts that could be used to salvage some other part of the empire that might offer some future prospects.

I wouldn't be at all surprised if he cuts his losses and walks away, hanging on to Tynecastle as the only marketable asset (although its value will have plummeted in comparison with 'the glory years'.

[Mikey]

Kickback is an absolute hoot this afternoon :greengrin

[mixumatosis]

Whereswallace? I feel another stunt surely

He's in the ground.

Mixumatosis does not condone the celebration of the death, in song or otherwise, of any individual, even if they are a fat jambo canute, who wanted hibs dead.

[Saorsa]

"The club is experiencing an income shortfall due to lower than expected transfer monies. Our future funding is secure but requires time to be organised."The club also unfortunately failed to reach agreement with HMRC which would have allowed it time to pay a tax bill in excess of £1million, that was settled in full yesterday."As such we are currently looking at options to identify new income opportunities and obtain funding for the players' salaries."

:faf:

They are donald ducked!!

http://www.heartsfc.co.uk/articles/20111116/salary-update_2241384_2517740:faf:

Get the fans tae do some busking? :dunno:

http://pixelmaverick.com/wp-content/uploads/2011/01/BanjoBoy.jpg



http://pixelmaverick.com/wp-content/uploads/2011/01/BanjoBoy.jpg</a>

[Liam_Hibs]

What about this trumpet on Keekback


Romanov has the money, he's a smart guy though. He's trying to get rid of the high earners from the club by deliberately not paying them on time. This will make the Agents think the club's going bust which will mean they will go looking for new clubs and then eventually we'll get rid of the high earners off of the wage bills! And that's straight from someone inside Tynecastle, why do you think the non-playing staff(office workers etc) always get paid on time? And why do you think the youngsters are going out on loan? He's fed up putting money into the club for high earners, he'll be trying to get the youngsters playing well so he can sell them for a greater price in the later on years.

They are nuts , we all knew you have to be a bit Haigs to follow the yams but this just proves it !.

That is staggering! How deluded and confused.

Comedy gold! :thumbsup:

[Spike Mandela]

The shortfall in expected transfer monies relates to money due from Sunderland when Craig Gordon makes a certain number of appearances.

Talk about living hand to mouth...

[matty_f]

The shortfall in expected transfer monies relates to money due from Sunderland when Craig Gordon makes a certain number of appearances.

Talk about living hand to mouth...

I think they just still haven't got the hang of when the transfer windows are...

[cam75]

Can see hearts players getting Paper bags 0f Euros, late night drop offs and men wearing dark sun glasses at night and trying to explain that to the bank??Nothing to see here now:taxi:taxi:taxi

[iwasthere1972]

The Hearts squad have brought out their new single which should be in all good shops (obviously not in theirs) in time for Christmas. It's a remake of an old UB40 classic.


http://www.youtube.com/watch?v=GiIQdlTv6K4

[iwasthere1972]

What about this trumpet on Keekback


Romanov has the money, he's a smart guy though. He's trying to get rid of the high earners from the club by deliberately not paying them on time. This will make the Agents think the club's going bust which will mean they will go looking for new clubs and then eventually we'll get rid of the high earners off of the wage bills! And that's straight from someone inside Tynecastle, why do you think the non-playing staff(office workers etc) always get paid on time? And why do you think the youngsters are going out on loan? He's fed up putting money into the club for high earners, he'll be trying to get the youngsters playing well so he can sell them for a greater price in the later on years.

They are nuts , we all knew you have to be a bit Haigs to follow the yams but this just proves it !.

:hilarious

The part in bold is quite an easy one to work out but not quite so when you have the brains of a Yam. Mrs Mop will not be on the same annual salary as their overpaid Champions League Winning squad.

The word trumpet springs to mind.

[YehButNoBut]

BBC Scotland has learned that one of the reasons for the income shortfall is due to former keeper Craig Gordon - who was transferred to Sunderland for £9m in 2007 - not playing a sufficient number of matches for the English Premier League club, which would trigger an automatic payment to Hearts.

Knew there was something about Steve Bruce I liked. :aok:

http://news.bbc.co.uk/sport1/hi/football/15757782.stm

[Andy74]

BBC Scotland has learned that one of the reasons for the income shortfall is due to former keeper Craig Gordon - who was transferred to Sunderland for £9m in 2007 - not playing a sufficient number of matches for the English Premier League club, which would trigger an automatic payment to Hearts.

Knew there was something about Steve Bruce I liked. :aok:

http://news.bbc.co.uk/sport1/hi/football/15757782.stm

What an awful business model that relies on transfer fees and extras.

Live within the turnover - quite simple.

In any case they are losing £10m per year so the lack of cash has a lot more to it than not receiving the odd extra windfall now and again and a lot more to do with not being able to fund the contracts they have handed out.

[R'Albin]

What an awful business model that relies on transfer fees and extras.

Live within the turnover - quite simple.

In any case they are losing £10m per year so the lack of cash has a lot more to it than not receiving the odd extra windfall now and again and a lot more to do with not being able to fund the contracts they have handed out.

Don't we have the same issue though only to a much lesser extent?

[heidtheba]

Chant for the derby game (while waving pound coin):

"Come and have a pound if you think you're poor enough!"

or...


"Who put the cash in the jambos banks...
no one
no one"

[fatbloke]

This is absolutely outrageous and no fun for Hearts players families - even allowing for the fact that none of them are exactly skint. AND Where is that apology for an ar5e Shaun Lawson just to slaver absolute cack about how it's not what it actually is a total****inshamblesofaclub and it's dodgy operating practices.

I personally do not want HOMOFC to go out of business but.......

[Aldo]

How the he'll can they survive the way they do. Surely the bubble will have to burst sooner or later.

I will hopefully watch as they all suffer after what that knob Mercer tried to do to my club.

They are 36 mill + in debt and mad Vlad has had his fill. The ***** on broke back have their heads in the sand ( or up each others *****)

Surely they are in breach of contract not paying wages and therefore the un paid players could walk.

FWIW the can all Get Tae

GIRUYYYF

[Andy74]

Don't we have the same issue though only to a much lesser extent?

I don't think so in the same way.

For a start we have a wage bill that is less than our turnover and has a margin built in which the club beleive is sustainable in terms of a cushion for other costs and for potentially not meeting the turnover we budget for.

They are specifically clearly budgeting way over their turnover.

I think with the low level of existing debt and low cost of funding we are prepared to risk short term losses from time to time, particularly when circumstances like more than desired churn of managers and playing staff happen. This can be covered by players aales when needed or desired but it's not crucial to meet payments.

[Cropley10]

"The club is experiencing an income shortfall due to lower than expected transfer monies. Our future funding is secure but requires time to be organised."The club also unfortunately failed to reach agreement with HMRC which would have allowed it time to pay a tax bill in excess of £1million, that was settled in full yesterday."As such we are currently looking at options to identify new income opportunities and obtain funding for the players' salaries."

:faf:

They are donald ducked!!

http://www.heartsfc.co.uk/articles/20111116/salary-update_2241384_2517740

Meanwhile over on Kickback are they still 'serenely calm' or are they 'just a little bit concerned'?

[Billy Whizz]

Sportsound saying that Craig Gordon's injury had stopped an "add on" payment to Hearts.
It's all the spotty ones's fault

[SunshineOnLeith]

When do they get the Poppy Appeal money?

[Hermit Crab]

Sportsound saying that Craig Gordon's injury had stopped an "add on" payment to Hearts.
It's all the spotty ones's fault

Chick Young now singing our praises regarding the way Hibs are run financially. He said he'd much rather be in position Hibs are in than the position Hearts are in.

Erm no brainer Chick :greengrin

[Hibernia Na Eir]

I want the very very worst to happen to hearts. And i want it painful for every one of their fans. I want them dragged through the gutters and their name tarnished forever.....

[Hibernia Na Eir]

When do they get the Poppy Appeal money? their players and fans could start stealing tins from haymarket and gorgie pubs :)

[poolman]

"The club is experiencing an income shortfall due to lower than expected transfer monies. Our future funding is secure but requires time to be organised."The club also unfortunately failed to reach agreement with HMRC which would have allowed it time to pay a tax bill in excess of £1million, that was settled in full yesterday."As such we are currently looking at options to identify new income opportunities and obtain funding for the players' salaries."

:faf:

They are donald ducked!!

http://www.heartsfc.co.uk/articles/20111116/salary-update_2241384_2517740


Lower than expected transfer monies........Pah

Why didn't they take that £4m they said they had been offered for Driver, the permanent incumbent of a hospital cubicle, by an "unamed club" :fibber:

[Www1875hfc]

P.F.A Set to investigate unpaid salaries at Tynecastle
http://sport.stv.tv/football/scottish-premier/hearts/279671-pfa-scotland-contact-earts-over-players-wages/?utm_source=dlvr.it&utm_medium=twitter

[BroxburnHibee]

P.F.A Set to investigate unpaid salaries at Tynecastle
http://sport.stv.tv/football/scottish-premier/hearts/279671-pfa-scotland-contact-earts-over-players-wages/?utm_source=dlvr.it&utm_medium=twitter

I can just imagine....................

PFA spokesman - "Vlad is it true you've no played the players again?"

Vlad - " Yep - I'm no paying they cheatin shysters until I absolutely have to"

PFA Spokesman - "OK then"

:greengrin

[oldbiker]

:faf:
I can just imagine....................

PFA spokesman - "Vlad is it true you've no played the players again?"

Vlad - " Yep - I'm no paying they cheatin shysters until I absolutely have to"

PFA Spokesman - "OK then"

:greengrin

[forthhibby]

[QUOTE=poolman;2990892][QUOTE=GlesgaeHibby;2990582]"The club is experiencing an income shortfall due to lower than expected transfer monies. Our future funding is secure but requires time to be organised."The club also unfortunately failed to reach agreement with HMRC which would have allowed it time to pay a tax bill in excess of £1million, that was settled in full yesterday.[COLOR=#570017][FONT=Arial]"As such we are currently looking at options to identify new income opportunities and obtain funding for the players' salaries."


http://www.heartsfc.co.uk/articles/20081002/this-saturday-gorgie-bonanza_2241384_1410153

[Kaiser1962]

Meanwhile over on Kickback are they still 'serenely calm' or are they 'just a little bit concerned'?


Jambof3tornado states

"once again I am untroubled by this.

That is all."

And in response RudiMustScore posts

"Basically a NON Story.....the reasons are here and the players will be paid asap apparently." (and provides the link)
http://sport.stv.tv/football/scottish-premier/hearts/279621-hearts-promise-player-payment-after-paying-1-million-plus-tax-bill/

The headline is Hearts admit they can't afford to pay their players





Classic stuff :greengrin

[Saorsa]

P.F.A Set to investigate unpaid salaries at Tynecastle
http://sport.stv.tv/football/scottish-premier/hearts/279671-pfa-scotland-contact-earts-over-players-wages/?utm_source=dlvr.it&utm_medium=twitterFat lot of good that'll dae if the players are http://i19.photobucket.com/albums/b168/jamie1971/smilies/chicken3-1.gif and dinnae have the baws tae follow it through.

[Benny Brazil]

This is absolutely outrageous and no fun for Hearts players families - even allowing for the fact that none of them are exactly skint. AND Where is that apology for an ar5e Shaun Lawson just to slaver absolute cack about how it's not what it actually is a total****inshamblesofaclub and it's dodgy operating practices.

I personally do not want HOMOFC to go out of business but.......

I personally do.

[Biggie]

hmmm...if Craig Gordon plays again for Sunderland, they have to pay hearts more money :hmmm: wonder if he'll ever get back into the 1st team...lol

[Andy74]

I personally do.

So do I. The real Hearts died years ago anyway.

[Cropley10]

If they hadn't been fiddling the tax in the first place they wouldn't be in a position where they're having to find lump sums of £0.5m and £1m at a time.

Has Campbell Ogilvie still got a top job in Scottish football? He's totally ****ed up both Rangers and Hearts.

I must remember to buy him a pint if our paths ever cross :greengrin:

:faf:

[Cropley10]

The end is in sight now for them mad vlad is for the offski and the pbs is rusting away to nothing and the asbestos stand will soon be closed its a health hazard.

If Mad Vlad was indeed for the offski why would he pay £1.5m in tax?

Can you explain ?

[Cropley10]

What about this trumpet on Keekback


Romanov has the money, he's a smart guy though. He's trying to get rid of the high earners from the club by deliberately not paying them on time. This will make the Agents think the club's going bust which will mean they will go looking for new clubs and then eventually we'll get rid of the high earners off of the wage bills! And that's straight from someone inside Tynecastle, why do you think the non-playing staff(office workers etc) always get paid on time? And why do you think the youngsters are going out on loan? He's fed up putting money into the club for high earners, he'll be trying to get the youngsters playing well so he can sell them for a greater price in the later on years.

They are nuts , we all knew you have to be a bit Haigs to follow the yams but this just proves it !.

It's a cunning plan. Let all the high earners leave. For nothing. Just to get them off the wage bill. In fact, when you think about it, it's absolutely genius.

[clerriehibs]

Jambof3tornado states

"once again I am untroubled by this.

That is all."

And in response RudiMustScore posts

"Basically a NON Story.....the reasons are here and the players will be paid asap apparently." (and provides the link)
http://sport.stv.tv/football/scottish-premier/hearts/279621-hearts-promise-player-payment-after-paying-1-million-plus-tax-bill/

The headline is Hearts admit they can't afford to pay their players







Classic stuff :greengrin

... and some clown is more worried about Shaun ... which is fair enough, I suppose, assuming it's Lawson.

[Barney McGrew]

If Mad Vlad was indeed for the offski why would he pay £1.5m in tax?

Can you explain ?

If they are going to go into administration, it's better to be at a time of his choosing and with a 'friendly' administrator that he appoints.

If he defaults with the Revenue, they go to court and the court appoints one, who won't be anywhere near as understanding.

[PaulSmith]

If Mad Vlad was indeed for the offski why would he pay £1.5m in tax?

Can you explain ?

Threat of jail, his assets being taken by hmrc with him getting fek all?

[Dashing Bob S]

They've been fiddling tax, fiddling kids, and now they're actually doing it as nature intended -with violins- as the self-pitying choruses start to come in from the PBS.

[MB62]

If Mad Vlad was indeed for the offski why would he pay £1.5m in tax?

Can you explain ?

Does he have a choice? If HMRC have refused terms for repayment and demanded it up front, what options do they have?

1 - Pay up and continue to survive until players are sold in January

2 - Don't pay and get closed down?

[Kaiser1962]

Threat of jail, his assets being taken by hmrc with him getting fek all?


Vlad is not a director of the Yams so they'd have trouble making it stick.

[Gala Foxes]

UKIO Bankas will never get a banking licence to trade in the UK so there is no way Romanov will hang about

[nortonhibby]

If Mad Vlad was indeed for the offski why would he pay £1.5m in tax?

Can you explain ?

how can i explain the actions of an insane mad man other than the actions you detail above are indeed madness.

[degenerated]

They've been fiddling tax, fiddling kids, and now they're actually doing it as nature intended -with violins- as the self-pitying choruses start to come in from the PBS.

:hilarious

[steakbake]

Does he have a choice? If HMRC have refused terms for repayment and demanded it up front, what options do they have?

1 - Pay up and continue to survive until players are sold in January

2 - Don't pay and get closed down?

Exactly. The club has to be kept going or else he will have nothing at all to recoup some of his money.

[Cropley10]

Exactly. The club has to be kept going or else he will have nothing at all to recoup some of his money.

He's a genius!

[steakbake]

He's a genius!

He's just not interested in HMFC any more and this is his way of limiting his losses. He doesn't give a monkeys about the unpaid players cos for him, it's not about football anymore.

This could go t!ts up just in time for Xmas. Ho ho ho...

[nonshinyfinish]

They've been fiddling tax, fiddling kids, and now they're actually doing it as nature intended -with violins- as the self-pitying choruses start to come in from the PBS.

:hilarious

Great stuff.

[Saorsa]

Hearts admit they can't afford to pay their players







Classic stuff :greengrin:tee hee: :LOL: :hilarious :faf: :rotflmao:

[Cropley10]

He's just not interested in HMFC any more and this is his way of limiting his losses. He doesn't give a monkeys about the unpaid players cos for him, it's not about football anymore.

This could go t!ts up just in time for Xmas. Ho ho ho...

I still don't see the end-game for Vlad. He is having to find more and more hard cash, just to stop the Taxman from winding them up. A dignified withdrawal would involve massive 'down-sizing' in costs, the sale of assets and then what?

I think he'll carry on, but Hearts will cease to be able to cheat by living beyond their means.

[PaulSmith]

Vlad is not a director of the Yams so they'd have trouble making it stick.

But his laddie is

http://www.heartsfc.co.uk/page/TheBoard/0,,10289,00.html

[greenginger]

They've been fiddling tax, fiddling kids, and now they're actually doing it as nature intended -with violins- as the self-pitying choruses start to come in from the PBS.


I think they must also have been Fiddling forms. To be granted a EUFA license to play in Europe a club must confirm to its Association that it has no outstanding Tax liabilities on a date, I think its 31st May.

Could the Yams have been up to date with Tax, Vat Etc, then and be due £ 1.5 Million in October ?

I think they fiddled their Euro License application and cost clubs who finished below them EURO participation .

[Ship Hibs]

would never have expected him to be up to something a bit dodgy http://www.bloomberg.com/news/2011-11-15/lithuanian-bank-shares-fall-on-media-report-about-investigation.html

[YehButNoBut]

From twitter

@anthonyabrown (https://twitter.com/#%21/anthonyabrown) Anthony Brown
Lithuanian bank owned by a guy called Vladimir, the majority shareholder of a British football club, has gone into temporary administration

@anthonyabrown (https://twitter.com/#%21/anthonyabrown) Anthony Brown
...Hearts fans can relax tho.. the bank is called Snoras and is owned by Vladimir Antonov, the Portsmouth majority shareholder

@JamesNursey (https://twitter.com/#%21/JamesNursey) James Nursey
Lithuanian bank #Snoras (https://twitter.com/#%21/search?q=%23Snoras) in temporary administration. #PFC (https://twitter.com/#%21/search?q=%23PFC) #Portsmouth (https://twitter.com/#%21/search?q=%23Portsmouth) #Pompey (https://twitter.com/#%21/search?q=%23Pompey) owner Vladimir Antonov is Snoras' majority shareholder!

@anthonyabrown (https://twitter.com/#%21/anthonyabrown) Anthony Brown
To anyone retweeting that Vladimir tweet, please retweet the second part as well, so I don't look like a stirrer, ha! This is backfiring!

Maybe the Hearts Vlad's bank is next in line. :greengrin :brokenyam::lolyam::******::jamboclow:yamlaugh:

[nortonhibby]

I still don't see the end-game for Vlad. He is having to find more and more hard cash, just to stop the Taxman from winding them up. A dignified withdrawal would involve massive 'down-sizing' in costs, the sale of assets and then what?

I think he'll carry on, but Hearts will cease to be able to cheat by living beyond their means.

erm what assets ? okay if they demolished the PBS And that would not be cheap, who would buy the site in the middle of a lot of slum flats ?
whats it worth ?
that leaves there squad who have not been paid yet again, and his plan seems to off load the high earners who actually might be worth a few quid so when they all go in January.

Its bye bye:taxi

[Greentinted]

But his laddie is

http://www.heartsfc.co.uk/page/TheBoard/0,,10289,00.html

Perfect exit strategy: Baby Vlad gets to be the top banana after asking his old man for a cowboy outfit this xmas. :kbacker: :xlol

[Kaiser1962]

But his laddie is

http://www.heartsfc.co.uk/page/TheBoard/0,,10289,00.html



If one word describes Rodney then that word is "EXPENDABLE" :greengrin

[Hibby cal]

Don't see what the problem is, can't the players
Just get on the phone to there shirt sponsors
WONGA . Com . Surley they could sort them
Out with a payday advance .

[YehButNoBut]

From twitter

@anthonyabrown (https://twitter.com/#%21/anthonyabrown) Anthony Brown
Lithuanian bank owned by a guy called Vladimir, the majority shareholder of a British football club, has gone into temporary administration

@anthonyabrown (https://twitter.com/#%21/anthonyabrown) Anthony Brown
...Hearts fans can relax tho.. the bank is called Snoras and is owned by Vladimir Antonov, the Portsmouth majority shareholder

@JamesNursey (https://twitter.com/#%21/JamesNursey) James Nursey
Lithuanian bank #Snoras (https://twitter.com/#%21/search?q=%23Snoras) in temporary administration. #PFC (https://twitter.com/#%21/search?q=%23PFC) #Portsmouth (https://twitter.com/#%21/search?q=%23Portsmouth) #Pompey (https://twitter.com/#%21/search?q=%23Pompey) owner Vladimir Antonov is Snoras' majority shareholder!

@anthonyabrown (https://twitter.com/#%21/anthonyabrown) Anthony Brown
To anyone retweeting that Vladimir tweet, please retweet the second part as well, so I don't look like a stirrer, ha! This is backfiring!

Maybe the Hearts Vlad's bank is next in line. :greengrin :brokenyam::lolyam::******::jamboclow:yamlaugh:

From todays Bloomberg Businessweek although not Vlad's bank it sounds all to familiar and this bank is a similar size to Ukio Bankas, sounds like Lithuanian banks may be in for a tough time.

http://www.businessweek.com/news/2011-11-16/lithuanian-government-takes-over-bank-snoras-on-credit-risk.html

The Lithuanian government took over Bankas Snoras AB, the country’s fifth-largest bank by assets on concern that its liabilities may exceed its assets.

The Baltic nation’s government held an emergency meeting in Vilnius today after the Lietuvos Bankas said Snoras ignored its recommendations to reduce its credit risk and appointed a state administrator. All operations at Snoras have been halted until Nov. 21, the central bank said in a statement. “The government has decided to take over the bank’s shares for public needs,” said Finance Minister Ingrida Simonyte at a press conference.


Baltic governments are working to keep their economies from slipping into recession after they suffered the European Union’s worse contractions during the 2009 global crisis. The takeover follows a similar move in Latvia, which seized Parex Banka AS to protect it against a run on deposits and later split the ailing institution.

[Albion Hibs]

Don't see what the problem is, can't the players
Just get on the phone to there shirt sponsors
WONGA . Com . Surley they could sort them
Out with a payday advance .

Surely they will get a preferential rate....say 3000%.

[PatHead]

I must admit I was confused as to why Vlad would come up with £1m for HMRC if he was wanting out, it has however occured to me that if Hearts are his banks biggest account then he needs to keep them afloat to keep the banks assets looking okay, thus avoid the fate of the other Lith bank. It would also appear as though he can't/won't extend the credit line to cover their salaries. Once again are his bank really that close to their limits?

I would also assume that his banking career would suffer if Hearts were to go under.

So in summary he/they are knackered.

Lets all laugh at Jam Tarts, lets all laugh at Jam Tarts,.......................

[Dr Jimmy]

If Ukio went into administration would that not just mean the administrators would try and get as much as possible for all the assets? Therefore someone could buy hearts for a few million?
I have no idea if correct, just asking the question.
It would be much better if he asset stripped them to recoup his money, as that could **** them right up.
One for Caversham Green...?

[Caversham Green]

If Mad Vlad was indeed for the offski why would he pay £1.5m in tax?

Can you explain ?

There's still an administration petition in place that was raised by HMRC back in August (it's different from the winding up petition that was recently dismissed). I've explained over on the PM board why administration is probably the last thing that 'Mr Romanov' wants and an order raised by HMRC would be even worse. The £0.5m was paid back in July in response to the winding up petition, the latest £1+m is new. If it had resulted in an HMRC-induced administration they would not come out the other end.


I still don't see the end-game for Vlad. He is having to find more and more hard cash, just to stop the Taxman from winding them up. A dignified withdrawal would involve massive 'down-sizing' in costs, the sale of assets and then what?

I think he'll carry on, but Hearts will cease to be able to cheat by living beyond their means.

I don't think 'Mr Romanov' has an end game. I think he doesn't have a clue what he's doing and probably never did and what we're seeing is the culmination of five years of mismanagement on a monumental scale. I wonder how the Yams feel about his recent purchase of a £17m jet now.

Incidentally, £24m of their debt is due for repayment on 31 December 2011.


When sorrows come, they come not single spies,
But in battalions

[Barney McGrew]

Incidentally, £24m of their debt is due for repayment on 31 December 2011.

I knew there was a large sum due in December, but I didn't know it was quite that much.

Happy New Year yam bams :partyhibb

[Saorsa]

Incidentally, £24m of their debt is due for repayment on 31 December 2011.Can they no just put that off a while as they owe it tae themselves? :dunno:

[SteveHFC]

:faf::faf::faf::yamlaugh::lolyam::brokenyam::rotfl mao:

[Mikey]

Incidentally, £24m of their debt is due for repayment on 31 December 2011.


Can they no just put that off a while as they owe it tae themselves? :dunno:


The Debt For Equity swaps conveniently sorted that out for them in the past. I don't know if that would be an option for them again.

I know a man in Caversham who will have a better idea though :greengrin

[Tranent Hibby]

Incidentally, £24m of their debt is due for repayment on 31 December 2011.

Where did this come from folks. Surely the debt is due to the owner and therefore its not an issue.

[Caversham Green]

If Ukio went into administration would that not just mean the administrators would try and get as much as possible for all the assets? Therefore someone could buy hearts for a few million?
I have no idea if correct, just asking the question.
It would be much better if he asset stripped them to recoup his money, as that could **** them right up.
One for Caversham Green...?

It's actually UBIG rather than Ukio that HoMFC owe all the money to, and UBIG that owns them. They don't seem to have a relationship with Ukio any more. If it was UBIG in administration the first thing the administrator would is close HoMFC down - they're costing money on a daily basis with no hope of recovery. They haven't made a true profit this century, don't appear to have any realistic prospect of making one in the foreseeable future and debt massively exceed assets so they are worth nothing as a going concern. On the other hand, closing them down would free up the one tangible asset they have and at least recoup some of the money that's been lost.

I agree asset stripping is the way to go - sell off as much of the intangible assets (i.e. players) as he can and repay some of the debt that way and then get some more back by selling Tynie. But that means keeping UBIG out of trouble in the meantime and there must be some doubts about his ability to do that.

[frazeHFC]

I like the previous thread with all the videos better, if i am being fussy on the amount of threads that basically say: GIUY YA YAM TWATS! :lolyam:

[Caversham Green]

Can they no just put that off a while as they owe it tae themselves? :dunno:


Incidentally, £24m of their debt is due for repayment on 31 December 2011.


Where did this come from folks. Surely the debt is due to the owner and therefore its not an issue.

In theory they could just refinance it, but the last time a large amount fell due (Feb 2010 I think) they moved it around to other companies, suggesting that the original creditor (Ukio) couldn't sustain it. It depends on UBIG's condition whether they can now carry such a bad debt, and no-one knows what condition UBIG are in. The lack of funds available HoMFC offers some signals though.

[Kaiser1962]

There's still an administration petition in place that was raised by HMRC back in August (it's different from the winding up petition that was recently dismissed). I've explained over on the PM board why administration is probably the last thing that 'Mr Romanov' wants and an order raised by HMRC would be even worse. The £0.5m was paid back in July in response to the winding up petition, the latest £1+m is new. If it had resulted in an HMRC-induced administration they would not come out the other end.


Is it not possible the £1m is the sum of the VAT, PAYE etc etc as the end of Septembers VAT would include their Season Ticket sales also?


OR

The July payment was actually the VAT for the last quarter (or the last two) of last financial year which is why HMRC are getting so excited and the £1m+ again is the first two of this year, which would explain why HMRC would not allow them a further extension?

Either way it is not yet the end of November and their season money is gone and, it looks like, money they collect for the VAT (if thats involved which I suspect it is) has also been spent. They cant pay their players until the Lith Cooncil deposit their employees pay cheques into UKIO or UBIG receives their monthly maintenance contracts/standing order payments at the end of the month.

We will find out soon enough I suppose but it dosent look good down gorgie way.

[Bishop Hibee]

Incidentally, £24m of their debt is due for repayment on 31 December 2011.

And yet the yams still do nothing :ostrich:

It could be a very happy new year indeed :titanic:

[PatHead]

Is it not possible the £1m is the sum of the VAT, PAYE etc etc as the end of Septembers VAT would include their Season Ticket sales also?


OR

The July payment was actually the VAT for the last quarter (or the last two) of last financial year which is why HMRC are getting so excited and the £1m+ again is the first two of this year, which would explain why HMRC would not allow them a further extension?

Either way it is not yet the end of November and their season money is gone and, it looks like, money they collect for the VAT (if thats involved which I suspect it is) has also been spent. They cant pay their players until the Lith Cooncil deposit their employees pay cheques into UKIO or UBIG receives their monthly maintenance contracts/standing order payments at the end of the month.

We will find out soon enough I suppose but it dosent look good down gorgie way.

Does from where I am sitting

[Seveno]

It's actually UBIG rather than Ukio that HoMFC owe all the money to, and UBIG that owns them. They don't seem to have a relationship with Ukio any more. If it was UBIG in administration the first thing the administrator would is close HoMFC down - they're costing money on a daily basis with no hope of recovery. They haven't made a true profit this century, don't appear to have any realistic prospect of making one in the foreseeable future and debt massively exceed assets so they are worth nothing as a going concern. On the other hand, closing them down would free up the one tangible asset they have and at least recoup some of the money that's been lost.

I agree asset stripping is the way to go - sell off as much of the intangible assets (i.e. players) as he can and repay some of the debt that way and then get some more back by selling Tynie. But that means keeping UBIG out of trouble in the meantime and there must be some doubts about his ability to do that.

Is the PBS not owned by Ukio Bankas ?

[tamig]

Jambof3tornado states

"once again I am untroubled by this.

That is all."

And in response RudiMustScore posts

"Basically a NON Story.....the reasons are here and the players will be paid asap apparently." (and provides the link)
http://sport.stv.tv/football/scottish-premier/hearts/279621-hearts-promise-player-payment-after-paying-1-million-plus-tax-bill/

The headline is Hearts admit they can't afford to pay their players





Classic stuff :greengrin

It's when you read comments by ****s like that that you really do want them to disappear. The arrogance and complacency is beyond belief.

[hibs0666]

In a normal company the payment of salaries is normally the 'gold standard' process. Suppliers can, and are. dicked around when the cash runs out but cash is normally available to pay the staff.

With that being the case the yams have now effectively said that all bets are off regarding payments, and you can be your house that payments to suppliers will be in pretty bad place as well.

[BroxburnHibee]

Incidentally, £24m of their debt is due for repayment on 31 December 2011.

Is that from their accounts?

[tamig]

erm what assets ? okay if they demolished the PBS And that would not be cheap, who would buy the site in the middle of a lot of slum flats ?
whats it worth ?
that leaves there squad who have not been paid yet again, and his plan seems to off load the high earners who actually might be worth a few quid so when they all go in January.

Its bye bye:taxi

Great to see the taxi back in business norton :thumbsup:

[KB1]

I wonder if the match day suppliers e.g. Caterers, G4S etc will be paid, this could impact their ability to actually forfil their next home fixture!!!

[Caversham Green]

Is it not possible the £1m is the sum of the VAT, PAYE etc etc as the end of Septembers VAT would include their Season Ticket sales also?


OR

The July payment was actually the VAT for the last quarter (or the last two) of last financial year which is why HMRC are getting so excited and the £1m+ again is the first two of this year, which would explain why HMRC would not allow them a further extension?

Either way it is not yet the end of November and their season money is gone and, it looks like, money they collect for the VAT (if thats involved which I suspect it is) has also been spent. They cant pay their players until the Lith Cooncil deposit their employees pay cheques into UKIO or UBIG receives their monthly maintenance contracts/standing order payments at the end of the month.

We will find out soon enough I suppose but it dosent look good down gorgie way.

I have a feeling the £500k was an instalment on an old debt, which is why HMRC issued the winding up petition. Instalment agreements usually carry a condition that in the event of a late payment the balance falls due immediately, so it could be that the £1m was the rest of that debt. £1m seems high for a quarter's VAT even allowing for season tickets and the sale of Wallace and PAYE is normally sealt with as a separate payment. It could be that the HoMFC staement has lumped them all together though. It could also be the settlement on their investigation, but I suspect we would have heard more about that in the press.

Certainly, HMRC demanding immediate payment is a direct consequence of their 'big' company policy of delaying payment of creditors for as long as possible.

[Dashing Bob S]

In theory they could just refinance it, but the last time a large amount fell due (Feb 2010 I think) they moved it around to other companies, suggesting that the original creditor (Ukio) couldn't sustain it. It depends on UBIG's condition whether they can now carry such a bad debt, and no-one knows what condition UBIG are in. The lack of funds available HoMFC offers some signals though.

Yes, it does, sadly. :violin:

[Kato]

They've been fiddling tax, fiddling kids, and now they're actually doing it as nature intended -with violins- as the self-pitying choruses start to come in from the PBS.

Read this. It's the truth.

[Caversham Green]

Is the PBS not owned by Ukio Bankas ?

No, HoMFC still own the place, but it is subject to a charge in favour of one of Mr Romanov's companies - as are all the club's assets.


Is that from their accounts?

:agree: It's buried away in one of the related party notes.

[BroxburnHibee]

:agree: It's buried away in one of the related party notes.

Cheers - any idea where about I might find this without having to read accounts for hours :greengrin

[magpie1892]

Hearts, like the hun, could be bought for £1. The only assets the club has are Tynecastle and the playing squad. I'm told, by a denizen of this board who knows much about such things, that the current value of the Tynecastle 'footprint' is about £6-8 million in this market (excluding demolition costs), i.e. a far cry from the c.£25m at the time of the VR takeover when domestic and comm prop markets were at their zenith.

Total debts are around the £38 million mark, maybe a wee bit more.

Hearts are losing £30,000 every single day.

A generous valuation (very generous, if you keep running the gauntlet of: a) not paying your players, and, b) basically telling the bigger earners to find another club) of the playing squad would be about £2.5 million. Definite buyer's market in this regard as if you came in with £100,000 cash for Kyle or £75,000 for Sutton, they'd bite your hand off. I've seen Hearts about a dozen times this season and their best player without doubt is Stevenson. £100,000 would do it - though I know what he's on and my other half earns a lot more.

In short, and while threads like these have been going for, literally, years now - they're ****ed. The European/Global turndown is a huge factor but the club is bled dry now. The main stand (I'm there more often than most Jambos) is, literally, Victorian and a total death trap.

The end game is here. At last.

[Caversham Green]

Cheers - any idea where about I might find this without having to read accounts for hours :greengrin

Actually I told a fib - it's not buried in the related party notes at all, it's under the creditors due in more than one year note - bottom of page 20 if you have the accounts.

[Lofarl]

People are tugging themselves into a frenzy over this. How many times this year have we heard the Yams are going bust. Christ it was not even 3 weeks ago that we had the last one. That one had the added drama of a winding up order and a Vlad rant.

They always seem to squirm their way out of oblivion, this time will be no different. I will believe it when I see the padlocks go on the gates of Tynecastle. The players are sheep, they will be strung along again untill the last moment when Vlad decides to stop his wee game and pay them.

Prove me wrong please :greengrin

[Sas_The_Hibby]

I think it's shocking that an upstanding and caring institution like Heart of Midlothian, loved by us all - remember Auld Reekie supports them with pride - is expected to pay tax, as if they were just any common or garden football club that is so conventional as to pay its bills on time.

Hearts are above all that tawdry money centred way of working and have realised they should not be dirtying their hands by paying wages to players for whom the joy of playing for the Pride of Edinburgh should be more than adequate recompense for their meagre efforts.

Furthermore......oh, I can't keep this up - pass me the sick bucket! :greengrin

[HFC 0-7]

People are tugging themselves into a frenzy over this. How many times this year have we heard the Yams are going bust. Christ it was not even 3 weeks ago that we had the last one. That one had the added drama of a winding up order and a Vlad rant.

They always seem to squirm their way out of oblivion, this time will be no different. I will believe it when I see the padlocks go on the gates of Tynecastle. The players are sheep, they will be strung along again untill the last moment when Vlad decides to stop his wee game and pay them.

Prove me wrong please :greengrin

IMO, they will not be wound up etc. I think what will happen is Vlad will pay the wages of anyone he feels can obtain a fee in january, the rest will be left without wages in the hope they do leave so that it will no be an outgoing for Vlad. I think Vlad will just keep hearts ticking over and will sell any young players that is worth anything until he has the debt down to such a level that he can sell the club, or, recoup the last of any money by selling tynie and then leave. Interestingly though I have heard that UBIG have debts to other banks, not just Ukio, and they are not extending any borrowing and are actually putting pressure on them to have monies repaid. Not sure if anyone can confirm this though.

[ScottB]

Hearts, like the hun, could be bought for £1. The only assets the club has are Tynecastle and the playing squad. I'm told, by a denizen of this board who knows much about such things, that the current value of the Tynecastle 'footprint' is about £6-8 million in this market (excluding demolition costs), i.e. a far cry from the c.£25m at the time of the VR takeover when domestic and comm prop markets were at their zenith.

Total debts are around the £38 million mark, maybe a wee bit more.

Hearts are losing £30,000 every single day.

A generous valuation (very generous, if you keep running the gauntlet of: a) not paying your players, and, b) basically telling the bigger earners to find another club) of the playing squad would be about £2.5 million. Definite buyer's market in this regard as if you came in with £100,000 cash for Kyle or £75,000 for Sutton, they'd bite your hand off. I've seen Hearts about a dozen times this season and their best player without doubt is Stevenson. £100,000 would do it - though I know what he's on and my other half earns a lot more.

In short, and while threads like these have been going for, literally, years now - they're ****ed. The European/Global turndown is a huge factor but the club is bled dry now. The main stand (I'm there more often than most Jambos) is, literally, Victorian and a total death trap.

The end game is here. At last.

I'd say they are in a far worse state than Rangers. At least you could imagine them eventually being able to pay of a £40million debt. Hearts never could. Even for a quid nobody is buying that mess unless Vlad writes everything off, and I can't see him doing that out the kindness of his heart.

I think, as you say, we may be about to switch from wondering if, to wondering when. To my mind the big question is whether they can even make it to January to try and sell everyone off. If there's no cash for wages, I can't imagine the squads patience will last with the transfer window opening, armed with the knowledge that they'd make more cash as free agents...

[The Green Goblin]

I wonder if the union will advise them to refuse to play, if they have not been paid?

And....is anyone else absolutely gobsmacked at the sheer levels of denial the yam fans are still showing?

GG

[clerriehibs]

Hearts, like the hun, could be bought for £1. The only assets the club has are Tynecastle and the playing squad. I'm told, by a denizen of this board who knows much about such things, that the current value of the Tynecastle 'footprint' is about £6-8 million in this market (excluding demolition costs), i.e. a far cry from the c.£25m at the time of the VR takeover when domestic and comm prop markets were at their zenith.

Total debts are around the £38 million mark, maybe a wee bit more.

Hearts are losing £30,000 every single day.

A generous valuation (very generous, if you keep running the gauntlet of: a) not paying your players, and, b) basically telling the bigger earners to find another club) of the playing squad would be about £2.5 million. Definite buyer's market in this regard as if you came in with £100,000 cash for Kyle or £75,000 for Sutton, they'd bite your hand off. I've seen Hearts about a dozen times this season and their best player without doubt is Stevenson. £100,000 would do it - though I know what he's on and my other half earns a lot more.

In short, and while threads like these have been going for, literally, years now - they're ****ed. The European/Global turndown is a huge factor but the club is bled dry now. The main stand (I'm there more often than most Jambos) is, literally, Victorian and a total death trap.

The end game is here. At last.

Re the bits in bold ... why? :confused::confused:

[BroxburnHibee]

Actually I told a fib - it's not buried in the related party notes at all, it's under the creditors due in more than one year note - bottom of page 20 if you have the accounts.

Cheers I found them eventually - page 18 though :wink:

So are we looking at another D for E here or re-financing?

I'd love to think they would call it in but we've heard it all before havent we?

[Saorsa]

In theory they could just refinance it, but the last time a large amount fell due (Feb 2010 I think) they moved it around to other companies, suggesting that the original creditor (Ukio) couldn't sustain it. It depends on UBIG's condition whether they can now carry such a bad debt, and no-one knows what condition UBIG are in. The lack of funds available HoMFC offers some signals though.That could be promising and possibly excellent news then :greengrin

[degenerated]

good opportunity for this trumpet to get another airing :greengrin

http://img213.imageshack.us/img213/6933/16knf45.png (http://imageshack.us/photo/my-images/213/16knf45.png/)

[Sir David Gray]

Hearts, like the hun, could be bought for £1. The only assets the club has are Tynecastle and the playing squad. I'm told, by a denizen of this board who knows much about such things, that the current value of the Tynecastle 'footprint' is about £6-8 million in this market (excluding demolition costs), i.e. a far cry from the c.£25m at the time of the VR takeover when domestic and comm prop markets were at their zenith.

Total debts are around the £38 million mark, maybe a wee bit more.

Hearts are losing £30,000 every single day.

A generous valuation (very generous, if you keep running the gauntlet of: a) not paying your players, and, b) basically telling the bigger earners to find another club) of the playing squad would be about £2.5 million. Definite buyer's market in this regard as if you came in with £100,000 cash for Kyle or £75,000 for Sutton, they'd bite your hand off. I've seen Hearts about a dozen times this season and their best player without doubt is Stevenson. £100,000 would do it - though I know what he's on and my other half earns a lot more.

In short, and while threads like these have been going for, literally, years now - they're ****ed. The European/Global turndown is a huge factor but the club is bled dry now. The main stand (I'm there more often than most Jambos) is, literally, Victorian and a total death trap.

The end game is here. At last.

Tynecastle's an asset!? :confused:

[BroxburnHibee]

good opportunity for this trumpet to get another airing :greengrin

http://img213.imageshack.us/img213/6933/16knf45.png (http://imageshack.us/photo/my-images/213/16knf45.png/)

:tee hee:

[aunty joyce]

. . .you may feel Petrie is tight with the purse strings but i'd rather have him than the crew over the other side of the city - signing players they cannot afford :-0

[sambajustice]

A Hearts, well, aquaintance at work told me that Obua was on something like 12k or 13k a week, this was after bonus' though. I think he said it was Xk basic, along with another Xk if he played and then another Xk win bonus. He said that it didnt matter if he ( i assume this would go for all the players) was in the team to play, if they he got a win bonus.

Obviously dont know how true this is if it all, but if it is even partially correct, it would certainly explain the above claim that the brown jumpered outfit are losing the equivalent of 30k a day!!

What a hoot!!

Undecided whether i would like them to go clean out of business or lose all their players, be forced to play 17, 18, 19 yr old guys and be on the end of some utter humpings and hopefully get relegated!

Either would do for me really!

[iwasthere1972]

good opportunity for this trumpet to get another airing :greengrin

http://img213.imageshack.us/img213/6933/16knf45.png (http://imageshack.us/photo/my-images/213/16knf45.png/)

That's a view Vlad is familiar with. :greengrin

[muzzhfc]

one of the numpties who posts on the scotsman had this to say . . .
"This was always going to happen, after the last late payment, due to fixtures and the international break we have not played at tynie, hence no cash flow in. The players would be expecting this, so really nothing to get all moist about down at the docks. I will stick my neck out and say the salaries won't be until after the next home game, money comes in, salaries get paid after that............ Talk of admin and the end being just round the corner is just plain daft as Vlad would be the biggest losser, now he might be many thinks, but a losser he is not."

im sorry, but even i can tell that this wasnt caused by the late payment. if you read the statement on bbc its a begging statement because their club has been run worse than a cake stand by an obese american

[Spike Mandela]

Reality sets in for Stuart Bathgate and Fatty Foulkes at last........

http://www.scotsman.com/sport/football/european/hearts_admit_they_can_t_pay_wages_1_1969402

http://www.scotsman.com/sport/football/european/not_a_hitch_or_a_glitch_but_real_problems_for_hear ts_1_1969423

[Kato]

Undecided whether i would like them to go clean out of business or lose all their players, be forced to play 17, 18, 19 yr old guys and be on the end of some utter humpings and hopefully get relegated!



Lots of humpings and lots of relegations.

[iwasthere1972]

I would like to know what Hearts have done with the money they collected from the 400,000 season ticket holders.

[Saorsa]

Undecided whether i would like them to go clean out of business Absolutely nae doubt in my mind, I'd like tae throw a party and dance on their grave.

[Archie70]

I would like to know what Hearts have done with the money they collected from the 400,000 season ticket holders.

Same as they did with the cash they got for winning the Champions League. Blew it on world cup stars!

[Sergey]

It isn't just the Yam players who haven't been paid, Lothian & Borders Police are overdue an unsettled bill that could see them negate their next home match.

They've not got a pot to piss in.

[Kato]

So the whole Wonga thing.

Do you think Vlad was taking the piss signing them up?

The had UKIO BANKAS KIRKUS the whole time then up pops Wonga in the season he torpedoes them (see what I did there).

[greenginger]

It isn't just the Yam players who haven't been paid, Lothian & Borders Police are overdue an unsettled bill that could see them negate their next home match.

They've not got a pot to piss in.

Any idea about business rates, utilities, Training ground ----------the list of expenditures which would be of a less priority than wages seems endless :greengrin

[Kato]

It isn't just the Yam players who haven't been paid, Lothian & Borders Police are overdue an unsettled bill that could see them negate their next home match.

That's outrageous. They should do it for free. Don't they realise the world is free of Kaiser Bill's Fascist Boer Party because of Hearts?

[Nailrod]

or...


"Who put the cash in the jambos banks...
no one
no one"

Nice one.
Suggests another to me, to the tune of that old religious belt-out "Who built the Ark?"

"Who paid the Hearts?
No-one No-one
Who paid the Hearts?
Brother no-one paid the Hearts"

[HibeeMG]

Surely Stephen Hendry and Ronnie Corbett will be able to lend them a few quid! :tee hee:

[TRC]

Nice one.
Suggests another to me, to the tune of that old religious belt-out "Who built the Ark?"

"Who paid the Hearts?
No-one No-one
Who paid the Hearts?
no-one paid the Hearts"


or Cry your eyes Vlad
"I know it's hard but no one wants to buy you
Cry your eyes vlad
But craig thompson is a peado"

[Nailrod]

If Mad Vlad was indeed for the offski why would he pay £1.5m in tax?

Can you explain ?

The reason for this is that Vlad is now in full-on turd-juggling mode.

Hearts owe UBIG thirty-odd million pounds. There's no prospect of that money ever being repaid, but for the time being it appears on UBIG's books as an 'asset'. If Hearts cease to fuction, then the whole amount will have to be written off UBIG's balance sheet immediately, as a massive loss.

This would be a reason for switching the debt from Ukio to UBIG. As an investment vehicle, UBIG will come under less stringent regulation than a bank. Ukio couldn't keep pretending that the Hearts debt is still a sound asset.

So Vlad can't afford just to let Hearts go bust. But keeping them going is a massive cash drain. With the current state of the economy in Europe, and particularly the financial economy, it's clear that there isn't any part of Vlad's rusty Lithuanian washer manufacturing empire that's producing anything like the cash needed. Which is why the wages are getting later and later.

I very much doubt that Vlad has any 'end-game' right now. He'll be living from hand to mouth. Just limping through to January without welshing on his players' contracts, so he can sell a few of them and realise some cash rather than losing them to breach of contract, will probably look like 'success' from where he's standing.

[Dashing Bob S]

A Hearts, well, aquaintance at work told me that Obua was on something like 12k or 13k a week, this was after bonus' though. I think he said it was Xk basic, along with another Xk if he played and then another Xk win bonus. He said that it didnt matter if he ( i assume this would go for all the players) was in the team to play, if they he got a win bonus.

Obviously dont know how true this is if it all, but if it is even partially correct, it would certainly explain the above claim that the brown jumpered outfit are losing the equivalent of 30k a day!!

What a hoot!!

Undecided whether i would like them to go clean out of business or lose all their players, be forced to play 17, 18, 19 yr old guys and be on the end of some utter humpings and hopefully get relegated!

Either would do for me really!

Do we have to choose? Why not both, the relegations and humpings for few years, then perhaps, clean out of business?

[Chibs]

Two articles in the scotsman about their cash flow problems and unable to say when players will be paid.

The end is near tick tock :na na:

[Peevemor]

http://www.scotsman.com/sport/football/european/hearts_admit_they_can_t_pay_wages_1_1969402


Players fear they might not be paid again as transfer window exits loom as club blames cashflow problem on £1m tax bill and shortfall in transfer money

This is money that they collected for the government, and wasn't theirs to use in the first place.

http://www.scotsman.com/sport/football/european/not_a_hitch_or_a_glitch_but_real_problems_for_hear ts_1_1969423

[Geo_1875]

Just heard the new Wonga advert on radio. They must be aiming it at Vlad. "When you need to borrow to see you through tomorrow....". It's hilarious.

[PeeKay]

Just heard the new Wonga advert on radio. They must be aiming it at Vlad. "When you need to borrow to see you through tomorrow....". It's hilarious.

Oh the delicious irony:greengrin

[Septimus]

To misquote T.S.Elliot.

This is the way the Jambo's end,
Not with a bang but a whimper.

[Dibben]

Just heard the new Wonga advert on radio. They must be aiming it at Vlad. "When you need to borrow to see you through tomorrow....". It's hilarious.

:thumbsup:

[Iain G]

So too does Gary Mackay, who last night reiterated his pledge, made in Saturday’s Scotsman, to help the club in any way possible.

“If there’s a role for me to play to help secure the long-term future of the club, then everybody knows I’m just a phone-call away,” the club’s appearances record-holder said.

Sorry Gary, you all sold your soul to Romanov and this is just another step forward in the long slow lingering death...

Interesting the Scotsman talks about ways to address the problem and how UKIO Bankio would get their money back, surely selling off the players and any other assets and flogging the ground to developers may just cover their debt levels?

Would have been better staying with the Pieman :agree:

[Barney McGrew]

Absolutely nae doubt in my mind, I'd like tae throw a party and dance on their grave.

Indeed. I've got a nice bottle of red in the cupboard that I may take down to Gorgie in the near future and crack open as I watch the demolition trucks tear the bus shelter down to the ground.

There's not a single thing I'd miss about their tawdry institution.

[happiehibbie]

Yes it is funny but let’s cast our minds back to when a certain Mr Mercer highlighted the fact that Duff and Gray put our club in the same situation I have never felt so low in my life on a sporting front. This is the situation t Hearts are in now.
They are no different from us we need Hearts and Hearts need us unfortunately the economic climate and selling yourself to the devil (Mad Vald) Hearts need to find someone who like Kenny McLean could knock on STF door and ask for help. I wish them luck !!
No One wants to lose there club I know I didn’t

[The Falcon]

Yes it is funny but let’s cast our minds back to when a certain Mr Mercer highlighted the fact that Duff and Gray put our club in the same situation I have never felt so low in my life on a sporting front. This is the situation t Hearts are in now.
They are no different from us we need Hearts and Hearts need us unfortunately the economic climate and selling yourself to the devil (Mad Vald) Hearts need to find someone who like Kenny McLean could knock on STF door and ask for help. I wish them luck !!
No One wants to lose there club I know I didn’t


Thing is that STF was always an option, albeit a reluctant one, who Kenny knew and, more importantly had the means and the network to step in. His name alone was a guarantee and, if I recall, it cost him around £3m in cash and his time.

The difference at Hearts is there appears to no one on the horizon even remotely capable of getting anywhere near the money they will require, which will probably be around the £30m mark, and the rest if Vlad is looking to recoup the DFE swaps. Asset stripping is the only way Vlad will get anything back shortish term. Sell everything.

[lucky]

The quotes from yam fans are brilliant. One want Sean Connerry and Billy Connelly to buy the club. Even though the two are Celtic fans.

Another wants the fans to buy it. Starting with his £1500. So using his maths £1500 into £36m is roughly 24000 bams coughing it up. I really am enjoying see them suffer

[Cropley10]

Thing is that STF was always an option, albeit a reluctant one, who Kenny knew and, more importantly had the means and the network to step in. His name alone was a guarantee and, if I recall, it cost him around £3m in cash and his time.

The difference at Hearts is there appears to no one on the horizon even remotely capable of getting anywhere near the money they will require, which will probably be around the £30m mark, and the rest if Vlad is looking to recoup the DFE swaps. Asset stripping is the only way Vlad will get anything back shortish term. Sell everything.

Sell everything!? Well, I know we're not flush, but maybe we should get the ball rolling when the new manager comes in with a cheeky bid for some of their better players. No need. To move house, guaranteed wages paid every month.

Who could add to our squad?

[The Falcon]

The quotes from yam fans are brilliant. One want Sean Connerry and Billy Connelly to buy the club. Even though the two are Celtic fans.

Another wants the fans to buy it. Starting with his £1500. So using his maths £1500 into £36m is roughly 16000 bams coughing it up. I really am enjoying see them suffer


The best thing about all this is that they really dont have a scooby. They think they are working to some sort of master plan.


Superb :thumbsup:

[Benny Brazil]

Yes it is funny but let’s cast our minds back to when a certain Mr Mercer highlighted the fact that Duff and Gray put our club in the same situation I have never felt so low in my life on a sporting front. This is the situation t Hearts are in now.
They are no different from us we need Hearts and Hearts need us unfortunately the economic climate and selling yourself to the devil (Mad Vald) Hearts need to find someone who like Kenny McLean could knock on STF door and ask for help. I wish them luck !!
No One wants to lose there club I know I didn’t

Sorry HH dont agree - yes I remember only to well how it felt - but we were never as arrogant as there fans were/still are. We hadnt splashed out millions on players and wages, promises of European glory,winning the league, world cup stars, £51million "now thats what we call an application" new stand. We fought to save our club - it would appear they dont think anything is wrong - they still think Romanov is God.

If they go out of business then so be it - I wont lose any sleep over it and I wont feel bad for them. I dont think it will happen.

[greenginger]

They won't lose their Club. There will always be a Heart of Midlothian F C of sorts. Clubs like Dundee and Livingston were up to their nostrils in the Brown Stuff and they are still here.

I think a good few of them will lose their arrogant " Big Club " fantasy . :thumbsup:

[Green_one]

The quotes from yam fans are brilliant. One want Sean Connerry and Billy Connelly to buy the club. Even though the two are Celtic fans.

Another wants the fans to buy it. Starting with his £1500. So using his maths £1500 into £36m is roughly 24000 bams coughing it up. I really am enjoying see them suffer

Sean alters his team every few years. I have seen him at Rangers too.

You are displaying Jambo maths. It would take 24,000 Jumbos at £1500 a head to get £36m cleared. Very unlikely in either case.

The ideas will get crazier

[Benny Brazil]

Indeed. I've got a nice bottle of red in the cupboard that I may take down to Gorgie in the near future and crack open as I watch the demolition trucks tear the bus shelter down to the ground.

There's not a single thing I'd miss about their tawdry institution.

I'll bring the champers and the deck chairs Barney and join you.

[HUTCHYHIBBY]

Is Gary going to auction off all his medals?

[MSK]

Sorry HH dont agree - yes I remember only to well how it felt - but we were never as arrogant as there fans were/still are. We hadnt splashed out millions on players and wages, promises of European glory,winning the league, world cup stars, £51million "now thats what we call an application" new stand. We fought to save our club - it would appear they dont think anything is wrong - they still think Romanov is God.

If they go out of business then so be it - I wont lose any sleep over it and I wont feel bad for them. I dont think it will happen.There may have been a time, a long long time ago that I would have been concerned at the demise of hearts ..now ...I hope they rot..horrible club, stinking ****hole of a ground... rotten to the core...

[Iain G]

Is Gary going to auction off all his medals?

Well that should help raise...um, hang on, working it out....

X No of medals x Going Rate for those medals on Ebay...

Hang on, getting their, gotta find my calculator as this is a hard one...

Right, medals x current going rate...

Equals, very roughly of course....I may beed to get Stephen Hawking to check my working here as it's such a big massive calculation...

Wait, I've got it, medals x cash value equals...

....About the square root of f*** all :greengrin

[James70]

Have the Yams tried contacting Fergus Muirhead at the BBC, Reporting Scotland?

He is supposed to be a top man at addressing viewers financial problems!

:greengrin :greengrin :greengrin

[sambajustice]

Sell everything!? Well, I know we're not flush, but maybe we should get the ball rolling when the new manager comes in with a cheeky bid for some of their better players. No need. To move house, guaranteed wages paid every month.

Who could add to our squad?

Most of them unfortunately!!

[Spike Mandela]

There may have been a time, a long long time ago that I would have been concerned at the demise of hearts ..now ...I hope they rot..horrible club, stinking ****hole of a ground... rotten to the core...

With the current standard and financial woes of Scottish football Hibs and their fans have enough to worry about keeping theirselves afloat never mind the neighbours. They are big enough and UGLY enough to fight their own corner even though it seems they are untroubled for now.

[Sylar]

They won't lose their Club. There will always be a Heart of Midlothian F C of sorts. Clubs like Dundee and Livingston were up to their nostrils in the Brown Stuff and they are still here.

I think a good few of them will lose their arrogant " Big Club " fantasy . :thumbsup:

Not to the tune of £30+ million they weren't!

[Hainan Hibs]

I'll bring the champers and the deck chairs Barney and join you.

Ill bring along the nibbles and canapes :agree:

[Hibernia Na Eir]

let hearts die

that is all.

[Chibs]

Delusion

From Wikipedia, the free encyclopedia

This article is about psychiatric condition. For the concept in Eastern spirituality, see Delusion (spirituality) (http://en.wikipedia.org/wiki/Delusion_(spirituality)).
"Delusionism" redirects here. For Wikipedia delusionism (also known as "inletionism"), see meta:delusionism (http://meta.wikimedia.org/wiki/delusionism).
See also: Delusional disorder (http://en.wikipedia.org/wiki/Delusional_disorder)




Classification and external resources


F (http://en.wikipedia.org/wiki/ICD-10_Chapter_F)22 (http://apps.who.int/classifications/icd10/browse/2010/en#/F22)


297 (http://www.icd9data.com/getICD9Code.ashx?icd9=297)


D003702 (http://www.nlm.nih.gov/cgi/mesh/2011/MB_cgi?field=uid&term=D003702)



A delusion is a false belief (http://en.wikipedia.org/wiki/Belief) held with absolute conviction despite superior evidence.[1] (http://en.wikipedia.org/wiki/Delusion#cite_note-wordnet-0) Unlikehallucinations (http://en.wikipedia.org/wiki/Hallucination), delusions are always pathological (http://en.wikipedia.org/wiki/Psychopathology) (the result of an illness (http://en.wikipedia.org/wiki/Illness) or illness process).[1] (http://en.wikipedia.org/wiki/Delusion#cite_note-wordnet-0) As a pathology, it is distinct from a belief based on false or incomplete information, dogma (http://en.wikipedia.org/wiki/Dogma), poormemory (http://en.wikipedia.org/wiki/Memory), illusion (http://en.wikipedia.org/wiki/Illusion), or other effects of perception (http://en.wikipedia.org/wiki/Perception).
Delusions typically occur in the context of neurological or mental illness (http://en.wikipedia.org/wiki/Mental_illness), although they are not tied to any particular disease and have been found to occur in the context of many pathological states (both physical and mental). However, they are of particular diagnostic importance inpsychotic (http://en.wikipedia.org/wiki/Psychosis) disorders including schizophrenia (http://en.wikipedia.org/wiki/Schizophrenia), paraphrenia (http://en.wikipedia.org/wiki/Paraphrenia), manic (http://en.wikipedia.org/wiki/Mania) episodes of bipolar disorder (http://en.wikipedia.org/wiki/Bipolar_disorder), and psychotic depression (http://en.wikipedia.org/wiki/Psychotic_depression).

Does this ring any bells of anyone you know

[Moulin Yarns]

So they paid HMRC £500k last month, then owed them a further £1million this month? How much do they actually owe then?

Basically it sounds like they had to scrape every last penny together to keep the taxman from shutting the doors, and now there's nothing left...

in the banking crisis of 1825 a small family run bank in London was losing £1000 an hour as clients withdrew their cash. by mid morning they had only £2000 left, so they took all their large denomination notes to the bank of England and changed it into pennies etc. this slowed the flow enough to keep them going to the end of the day, by which time addition funds had been found. That's the way to go for Hearts,

they pay, but only pennies :greengrin

[Kojock]

Blaming a £1m tax bill – which the club claims was settled this week – and a shortfall in transfer monies.

Can anyone confirm if the Yams actually did shell out 1 mil to the taxman or is this another smokescreen from the Mad one.

:lolyam:

[down the slope]

Delusion

From Wikipedia, the free encyclopedia

This article is about psychiatric condition. For the concept in Eastern spirituality, see Delusion (spirituality) (http://en.wikipedia.org/wiki/Delusion_(spirituality)).
"Delusionism" redirects here. For Wikipedia delusionism (also known as "inletionism"), see meta:delusionism (http://meta.wikimedia.org/wiki/delusionism).
See also: Delusional disorder (http://en.wikipedia.org/wiki/Delusional_disorder)




Classification and external resources


F (http://en.wikipedia.org/wiki/ICD-10_Chapter_F)22 (http://apps.who.int/classifications/icd10/browse/2010/en#/F22)


297 (http://www.icd9data.com/getICD9Code.ashx?icd9=297)


D003702 (http://www.nlm.nih.gov/cgi/mesh/2011/MB_cgi?field=uid&term=D003702)





A delusion is a false belief (http://en.wikipedia.org/wiki/Belief) held with absolute conviction despite superior evidence.[1] (http://en.wikipedia.org/wiki/Delusion#cite_note-wordnet-0) Unlikehallucinations (http://en.wikipedia.org/wiki/Hallucination), delusions are always pathological (http://en.wikipedia.org/wiki/Psychopathology) (the result of an illness (http://en.wikipedia.org/wiki/Illness) or illness process).[1] (http://en.wikipedia.org/wiki/Delusion#cite_note-wordnet-0) As a pathology, it is distinct from a belief based on false or incomplete information, dogma (http://en.wikipedia.org/wiki/Dogma), poormemory (http://en.wikipedia.org/wiki/Memory), illusion (http://en.wikipedia.org/wiki/Illusion), or other effects of perception (http://en.wikipedia.org/wiki/Perception).
Delusions typically occur in the context of neurological or mental illness (http://en.wikipedia.org/wiki/Mental_illness), although they are not tied to any particular disease and have been found to occur in the context of many pathological states (both physical and mental). However, they are of particular diagnostic importance inpsychotic (http://en.wikipedia.org/wiki/Psychosis) disorders including schizophrenia (http://en.wikipedia.org/wiki/Schizophrenia), paraphrenia (http://en.wikipedia.org/wiki/Paraphrenia), manic (http://en.wikipedia.org/wiki/Mania) episodes of bipolar disorder (http://en.wikipedia.org/wiki/Bipolar_disorder), and psychotic depression (http://en.wikipedia.org/wiki/Psychotic_depression).

Does this ring any bells of anyone you know





This was one of the latest postings from the "other" side

Posted Today, 11:04
Total non story . Players will get their wages in a week or so id imagine....just like last time and the time before...chill out dudes

[1875er]

This was one of the latest postings from the "other" side

Posted Today, 11:04
Total non story . Players will get their wages in a week or so id imagine....just like last time and the time before...chill out dudes

http://www.davethechimp.co.uk/_news/uploaded_images/mail-798955-798993.png

DONT PANIC

[johnrebus]

Blaming a £1m tax bill – which the club claims was settled this week – and a shortfall in transfer monies.

Can anyone confirm if the Yams actually did shell out 1 mil to the taxman or is this another smokescreen from the Mad one.

:lolyam:


Tax Bill?

I would not believe anything that comes out of Tynecastle.

Blaming a tax bill? So is it the fault of the Inland Revenue then? Hearts have not made a profit since John Robertson was under twelve stone, so what tax is this exactly? VAT is due to Customs and Excise, not the Inland Revenue, so I can only guess that we are talking about PAYE for the staff, so £1.5m paid within the last few weeks seems like a hell of a backlog in payments.

This all smells of *****.

:confused:

[Andy74]

So too does Gary Mackay, who last night reiterated his pledge, made in Saturday’s Scotsman, to help the club in any way possible.

“If there’s a role for me to play to help secure the long-term future of the club, then everybody knows I’m just a phone-call away,” the club’s appearances record-holder said.

Sorry Gary, you all sold your soul to Romanov and this is just another step forward in the long slow lingering death...

Interesting the Scotsman talks about ways to address the problem and how UKIO Bankio would get their money back, surely selling off the players and any other assets and flogging the ground to developers may just cover their debt levels?

Would have been better staying with the Pieman :agree:

Does anyone recall exactly what Ubig will have lost so far?

The club was about £20m in debt to begin with. It's now nearer £40m but there have been some debt for equity swaps and some debt forgiveness.

I'd be thinking around £50m already down the tubes for them??

The only way to recoup any of it now is to close the doors and sell the land and maybe mitigate that loss by £10m or so.

I don't see any of the other Scotsman ideas making much sense.

Anyone 'investing' or buying the club will want that £40m written off and even then they will need significant cash for the stadium unless the Council step in and do that for them, which is likely unfortunately.

Either way Hearts are going to have to stop playing the big team and have a squad the size of the rest of us and paid about the same. Still, being them they will still be able to be competitive at that!

[declan macmanus]

Lithuanian bank shares tumbled after the government took over Bankas Snoras, the country's fifth largest bank. Ukio Bankas fell 16%, the biggest one day drop since Feb 25, 2000. The government took over Snoras yesterday after the central bank appointed a state administrator on concern about the management of credit risk and alleged illegal operations.

Not the best time to be relying on a Lithuanian bank for your survival.


Sent from my iPhone using Tapatalk

[brog]

I don't think 'Mr Romanov' has an end game.[/B] I think he doesn't have a clue what he's doing and probably never did and what we're seeing is the culmination of five years of mismanagement on a monumental scale. I wonder how the Yams feel about his recent purchase of a £17m jet now.

Incidentally, £24m of their debt is due for repayment on 31 December 2011.

Agreed, I recently met with 3 prominent political Jambos, one of whom is regularly vilified on these pages. None of us could work out where he's now going. There was a concensus that he's probably taken advantage of the extensive laundromat facilities in the Gorgie area in the last 6 years. We also thought that his original intent was probably to milk any partners, like the cooncil, & then walk away with what he thought may be large profits. We all agreed however that latter scenario has gone & he's now just looking to liquidate what pitiful assets he has left before they shrink to nothing. Make no mistake, the end game is now in play. I seriously doubt if the players will be paid until after the Gorgie fire sale opens on NY day.

[sambajustice]

“I think we’re still on amber, not yet on red. All of us should start saving, and working, and thinking of alternatives.”

Jesus!!! Thats a lot of saving they'll all have to do!! :greengrin

[SquashedFrogg]

Jesus!!! Thats a lot of saving they'll all have to do!! :greengrin

To be fair 400,000 x £100 would cover it :agree:

[Argylehibby]

Blaming a £1m tax bill – which the club claims was settled this week – and a shortfall in transfer monies.

Can anyone confirm if the Yams actually did shell out 1 mil to the taxman or is this another smokescreen from the Mad one.

:lolyam:

A bill they originally claimed they had settled some time ago, so which statement is the lie (or are they both)!

[Hibs Class]

Tax Bill?

I would not believe anything that comes out of Tynecastle.

Blaming a tax bill? So is it the fault of the Inland Revenue then? Hearts have not made a profit since John Robertson was under twelve stone, so what tax is this exactly? VAT is due to Customs and Excise, not the Inland Revenue, so I can only guess that we are talking about PAYE for the staff, so £1.5m paid within the last few weeks seems like a hell of a backlog in payments.

This all smells of *****.

:confused:

These two merged around 6 years ago to form HM Revenue and Customs so it's now a little harder to work out what the payments to HMRC represent.

[nonshinyfinish]

A bill they originally claimed they had settled some time ago, so which statement is the lie (or are they both)!

I assumed that the two are different bills, each representing an installment of whatever the total they owe to HMRC is. Might be entirely wrong though.

[Seveno]

I don't buy the 'we need them' viewpoint. Do Newcastle United need a city rival ?

Without Hearts, we will grow to become a bigger club.

[blackpoolhibs]

I don't buy the 'we need them' viewpoint. Do Newcastle United need a city rival ?

Without Hearts, we will grow to become a bigger club.

Exactly, let the xxxxxxx die.

[Andy74]

Exactly, let the xxxxxxx die.

I might have had a different view ten years ago, but now I don't. They deserve all they get.

There's a very big I told you so coming. That's the thing. We did the sums for them, we saw what was happening. They were happy to laugh it up.

Well keep laughing ya plums!

[CentreLine]

I don't buy the 'we need them' viewpoint. Do Newcastle United need a city rival ?

Without Hearts, we will grow to become a bigger club.

Newcastle earn £50m+ from tv revenue alone in the EPL. Make no mistake, we need hahahahearts if only for the comedy value but we need them none the less. And they need us too more than ever now

[KeithTheHibby]

Shambles of a club and in the real crap now.

In all my time of watching football I cannot think of another professional club being run in such a way.

The non-payment of wages for employees is not surprising given the way that club operates however the last 2 months have been a real eye opener.

With Romanov bleating to the press about not investing anymore cash coupled with the statement regarding the wages it is apparent they are totally skint - both those statements smack of a cry for help if you ask me.

[nortonhibby]

I might have had a different view ten years ago, but now I don't. They deserve all they get.

There's a very big I told you so coming. That's the thing. We did the sums for them, we saw what was happening. They were happy to laugh it up.

Well keep laughing ya plums!


Cant see them lasting much longer the piggy bank has ran out no money to even pay the wages i can see players just walking out as they would be in breach of contract.

[hibeesdude]

It's really sad over on brokeback just now it's all denial and how come hmrc aren't being this inflexible with rankgers.

It's like watching bambi realising its mothers been killed, or the look in a baby seals eyes before the hunter swings his club ☹☹

Still ........hellishly funny though

[ScottB]

I might have had a different view ten years ago, but now I don't. They deserve all they get.

There's a very big I told you so coming. That's the thing. We did the sums for them, we saw what was happening. They were happy to laugh it up.

Well keep laughing ya plums!

I don't think this site has a font size large enough for the coming 'I Told You So' :greengrin

[steakbake]

I might have had a different view ten years ago, but now I don't. They deserve all they get.

There's a very big I told you so coming. That's the thing. We did the sums for them, we saw what was happening. They were happy to laugh it up.

Well keep laughing ya plums!

Totally with you on that.

There was a time when I would have thought: what a shame. Not any longer. Suck it up ya goons. I predict a happy Xmas.

[Barney McGrew]

It's really sad over on brokeback just now it's all denial and how come hmrc aren't being this inflexible with rankgers

IIRC, Rangers are paying current VAT, the ongoing court case they have is them disputing the amount they have to pay with regards to image rights and foreign payments etc.

Hertz aren't paying what they are due to be paying as a routine matter of course which is why our good friends at HMRC are rightly sticking the boot in.

[lapsedhibee]

I recently met with 3 prominent political Jambos, one of whom is regularly vilified on these pages.

Well name them so that we can vilify the other two an aw!

[ScottB]

IIRC, Rangers are paying current VAT, the ongoing court case they have is them disputing the amount they have to pay with regards to image rights and foreign payments etc.

Hertz aren't paying what they are due to be paying as a routine matter of course which is why our good friends at HMRC are rightly sticking the boot in.

Pretty much, the amount Rangers are disputing is currently ring fenced in their bank accounts, and the £40million odd is up to the courts. So Rangers are doing what they should be doing.

Hearts obviously haven't been paying tax on wages, which is totally ridiculous.