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View Full Version : Sales of cake, custard, jelly and ice-cream soar in east Edinburgh!



Hibbyradge
08-12-2011, 01:17 PM
Get your supply in while stocks last!

http://www.scotsman.com/edinburgh-evening-news/other-sport/tensions_rise_among_unpaid_stars_as_angst_grows_ov er_tynecastle_club_s_finances_1_1993250

lapsedhibee
08-12-2011, 01:27 PM
Get your supply in while stocks last!

http://www.scotsman.com/edinburgh-evening-news/other-sport/tensions_rise_among_unpaid_stars_as_angst_grows_ov er_tynecastle_club_s_finances_1_1993250

"Sympathy for the unpaid Hearts players has only increased in the seven weeks since their wages were first delayed on October 16."

Eh, naw. :bye:

Woody70x2
08-12-2011, 01:41 PM
Get your supply in while stocks last!

http://www.scotsman.com/edinburgh-evening-news/other-sport/tensions_rise_among_unpaid_stars_as_angst_grows_ov er_tynecastle_club_s_finances_1_1993250

Missed that news article and it makes very pleasant reading :thumbsup:

Loved this bit:

However, before then, there is the not-so-small matter of applying to renew the club’s licence in tandem with UEFA’s Club Licensing and Financial Fair Play regulations. This must be done by March 31 next year. Club licensing laws demand that a huge list of conditions are met in order for a licence to be granted for the next season. Without it, clubs cannot compete in European competition the following season.

The conditions include the following: Any monies due to other clubs must be paid in full up to December 31, including transfer fees; clubs must provide a detailed chart of their overall structure, share capital, assets and turnover, plus audited financial statements and audited supplementary information not included in financial statements; any interim financial statements including profits and losses should also be submitted, along with a list of employees to December 31 and their relative inland revenue documents; wages must also be in proportion related to turnover.

So, in effect, by the end of this month, Hearts’ finances must be in impeccable order or the club could incur UEFA’s wrath. The players can only sit back and wonder what the future holds for them individually.

Moulin Yarns
08-12-2011, 01:52 PM
UEFA’s Club Licensing and Financial Fair Play regulations.

Selective extracts :greengrin


Article 50 – No overdue payables towards employees and social/tax authorities

1 The licence applicant must prove that as at 31 March preceding the licence season it has no overdue payables (as defined in Annex VIII) towards its employees or social and tax authorities as a result of contractual and legal obligations towards its employees that arose prior to the previous 31 December.
2 Payables are those amounts due to employees or social and tax authorities as a result of contractual or legal obligations towards employees. Amounts payable topeople who, for various reasons, are no longer employed by the applicant fall within the scope of this criterion and must be settled within the period stipulated in the contract and/or defined by law, regardless of how such payables are accounted for in the financial statements.
3 The term “employees” includes the following persons:a) All professional players according to the applicable FIFA Regulations on the Status and Transfer of Players; andb) The administrative, technical, medical and security staff specified in Articles 28 to 33 and 35 to 39.

Article 52 – Future financial information 1 The licence applicant must prepare and submit future financial information in order to demonstrate to the licensor its ability to continue as a going concern until the end of the licence season if it has breached any of the indicators defined in paragraph 2 below. 2 If a licence applicant exhibits any of the conditions described by indicator 1 or 2, it is considered in breach of the indicator:a) Indicator 1: Going concern The auditor’s report in respect of the annual or interim financial statements submitted in accordance with Articles 47 and 48 includes an emphasis of matter or a qualified opinion/conclusion in respect of going concern.b) Indicator 2: Negative equity The annual financial statements (including, where required, the supplementary information) submitted in accordance with Article 47 disclose a net liabilities position that has deteriorated relative to the comparative figure contained in the previous year’s annual financial statements, or the interim financial statements submitted in accordance with Article 48 (including, where required, the supplementary information) disclose a net liabilities position that has deteriorated relative to the comparative figure at the preceding statutory closing date.
Not just finance though ....


INFRASTRUCTURE CRITERIAArticle 24 – Stadium for UEFA club competitions
1 The licence applicant must have a stadium available for UEFA club competitions which must be within the territory of the UEFA member association and approved by the UEFA member association.
2 If the licence applicant is not the owner of a stadium, it must provide a written contract with the owner(s) of the stadium(s) it will use.
3 It must be guaranteed that the stadium(s) can be used for the licence applicant’s UEFA home matches during the licence season.
4 The stadium(s) must fulfil the minimum requirements defined in the UEFA Stadium Infrastructure Regulations and be classified at least as a UEFA category 2 stadium.
Article 25 – Training facilities – Availability
1 The licence applicant must have training facilities available throughout the year.
2 If the licence applicant is not the owner of the training facilities, it must provide a written contract with the owner(s) of the training facilities.
3 It must be guaranteed that the training facilities can be used by all teams of the licence applicant during the licence season, taking into account its youth development programme.
Article 26 – Training facilities – Minimum infrastructure
As a minimum, the infrastructure of the training facilities must include outdoor and indoor facilities, dressing rooms and a medical room.