Official Site: CLUB STATEMENT

[RSS Bot]

More... (http://www.hibernianfc.co.uk/news/5136)


Hibernian Football Club today responded to statements issued by David Low and by Mike Riley.

In summary, Hibernian Football Club:

believes in paying what it owes;
had its property assets valued by international property valuers seven months ago;
notes that Mr Low believes the Club is worthless – which confirms his position of summer 2014, when he proposed that shareholders give Hibernian to him for nothing ;
believes Mr Low is entitled to his opinions and that Hibernian supporters who care about the Club are also entitled to theirs.
Mr Low is an experienced financier and Mr Riley is Chairman of the Supporters Association. Mr Low is not a shareholder of this club. The Information Memorandum was issued to shareholders solely for their use. The Club has answered the four questions raised by Mr Low despite the fact that he has declared that he has no further interest in Hibernian or its share issue.

Mr Low is not acting as an adviser and has given his personal views. He has stated that any supporter considering investing in shares should seek the advice of a financial advisor authorised by the FCA, and on that we agree. Constructive analysis is always welcomed. Mr Riley has gone further and advised fans “not to put money in” clarifying that these are his “personal views as chairman” of the Supporters Association. He has not counselled supporters to seek out any other professional advice.

Both Mr Low and Mr Riley request details of the mortgage which the Club has arranged from the holding company. The arrangement – an interest free mortgage of £5 million repayable over ten years - has been announced now that the detailed terms have been approved by the Board.

Mr Riley has questioned why the Club should pay back the cash advanced to it by the holding company. The statement by Club Chief Executive Leeann Dempster issued on the day prior to Mr Riley’s statement made it plain that Hibernian is a club that meets its obligations.

Mr Low says that the Club’s assets are “overvalued at pre-recession and banking crisis levels”. The heritable property was valued by international property consultants Jones Lang LaSalle seven months ago on a depreciated replacement cost basis. The Club’s audited net assets at 31 July 2014 were £15 million.

In Mr Low’s opinion, shares in Hibernian Football Club “continue to have a negligible economic value”. Last summer Mr Low offered to acquire the entire issued share capital of the Club for a nil consideration. In other words, he required all 1,700 existing shareholders, including the holding company, to give up their shares to him for nothing. Mr Low’s current valuation of the Club’s shares is consistent with his approach seven months ago.

Helpfully, Mr Low has clarified that will not be making a new offer and that he will not be subscribing for new shares in the Club.

The share issue seeks to raise £2.5m from supporters. Their money will go directly into the Club. If fully subscribed, supporters will own 50% of the Club (to add to the 1% already in the hands of supporters) which in turn has the cash they subscribe as well as owning Easter Road Stadium and the Hibernian Training Centre.

Mr Low has raised four issues, each of which is addressed in turn below.

1 The contents of the Information Memorandum comply with the Financial Services and Markets Act 2000. It is not the practice of the Club to issue interim financial figures. In making arrangements for the share issue, the directors are confident that the Club’s operations for Season 2014-15 are fully funded. New shareholders will have an opportunity to contribute to the sporting ambition of the Club, as explained by the Chief Executive in her statement. Supporters will also have a voice at the boardroom table with two fans representatives elected through a democratic process.
2 The Club shop was re-branded as a Nike outlet as part of the Nike kit sponsorship deal in 2013. That means the day to day operations of the shop are managed on behalf of the Club’s kit supplier which has bigger buying power than the Club on its own. The advantage for the Club is that it does not have to buy and hold stock for the shop so that the working capital requirements are reduced. The arrangement provides lower operational risk to the Club, guaranteed returns with an upside possibility and is more profitable.
3 Details of the new mortgage arrangements have been published. The £5m mortgage is interest free and repayable over ten years. Mr Low’s funding proposals last summer included loans from shareholders which would have attracted interest at a rate of 5% per annum.
4 The arrangements for the transfer of shares in the articles have been in place for many years. However, as the share ownership in the Club widens, it is a matter which will be considered by the Board, including the new fans representatives, at an appropriate time in the coming months.
The Club reiterates that shareholders and supporters considering the share issue should take independent financial advice and only participate if they are able to and to the extent that reflects their own personal circumstances.

The Club has embraced radical change in a short space of time. The share issue gives supporters the opportunity to acquire a controlling interest in the Club. There are no barriers to that. The proposals will be discussed at the Annual General Meeting on 28 January 2015. Thereafter, it will be open to shareholders and supporters to submit applications from 2 February 2015. The take up of shares and the renewal of season tickets in March will add to the resources available to the Club to help achieve its sporting ambitions.

[johnbc70]

Game, set and match.

[Hibbyradge]

More... (http://www.hibernianfc.co.uk/news/5136)

It's all lies.

[CropleyWasGod]

My head is spinning with the change in PR attitude. Gone are the old days when the club barely said a word.

:)

[jacomo]

The way this club communicates is changing. Timely, direct and comprehensive, when it used to be terse and as limited as possible.

It also comes across as slightly intemperate, but not impolite. You can sense the exasperation from LD at these 'noises off' coming from people who really should know better.

There is a lesson here - don't criticise Hibs in public and expect the old 'no comment' routine. LD has shown herself to be the most credible speaker on this issue by far.

[Mon Dieu4]

I like our new approach of answering back and not just staying silent, things are definitely changing within:thumbsup:

[Beefster]

Boom, boom, boom, shake the room.

[Hibs90]

Well done Hibs. About time these fools shut up.

[Mon Dieu4]

Ah crops and jacomo beat me to it but glad I'm not the only one that feels that way:greengrin

[McD]

This seems a very polite yet firm 'bitch slap'.

I don't know know the man at all, but it appears that Mike Reilly has talked himself out into a very thin ledge which may well collapse under him.

[Bostonhibby]

A football club, it's income and all those devalued assets for nothing? You cant blame a guy for trying-especially if you can then wring an inflation beating return out of them after. Spiv.

[Benny Brazil]

Really hope the HSA members are having a few harsh words with Mr Reilly.
As for David Low - who cares what he thinks or says - he is irrelevant.

The club have made various statements this week to answer a small but vocal minority of people - all have answered the questions raised - good on them.
Time for these small minority of people to shut up and get behind the club.

[Billie Jo]

Mike Riley :blah:

GIRUY

[blackpoolhibs]

:slipper::slipper::slipper::slipper::slipper:

[Mon Dieu4]

Anyone have Tim Cooks email address I want to find out if I can take over Apple for nothing

[Onceinawhile]

No mocked up movie posters of David Low and Mike Reilly? Half a job as usual hibs.:rolleyes:

[kaimendhibs]

🙌🙌🙌🙌🙌👏👏👏👏. Well done Hibs

[blackpoolhibs]

No mocked up movie posters of David Low and Mike Reilly? Half a job as usual hibs.:rolleyes:

Not that i'd do it, but dumb and dumber 2 is out. Someone really should...........:wink:

[California-Hibs]

Love it! Well done Hibs! Echo the statements above, gone are the days of silence, our club has/continues to change for the better. Brilliant statement by the club!

[Onion]

My head is spinning with the change in PR attitude. Gone are the old days when the club barely said a word.

:)

Good to see the club answering questions directly, but need to bear in mind that there's a share issue at stake, so not exactly normal circumstances.

[deek]

How can anyone basically say, do not support the club and be considered a supporter is beyond me. BUT, a chairman of a supporters club saying that is unbelievable!!!! I would have him emptied. The club is very clear with it's intention of shares, and to be debt free after 10 years is brilliant. I will be subscribing to this share offer for sure. :thumbsup:

[greenpaper55]

I think those two have just been shot down in flames, well done Hibs for a clear and unequivocal statement.

[DaveF]

This seems a very polite yet firm 'bitch slap'

Indeed it is :greengrin

Pretty clear to all that LD is listening and taking no ***** from anyone.

[PatHead]

Great to see questions/objections getting answered swiftly.

[tamig]

Really hope the HSA members are having a few harsh words with Mr Reilly.
As for David Low - who cares what he thinks or says - he is irrelevant.

The club have made various statements this week to answer a small but vocal minority of people - all have answered the questions raised - good on them.
Time for these small minority of people to shut up and get behind the club.

I'm not a member of the HSA but how that man has remained in office so long - despite his numerous public howlers - really does beggar belief.

Excellent response from the club.

[Pretty Boy]

If LDs statement had the mouths on the ropes then the mortage statement was a standing 8 count and that is a knock out blow.

Support the club, offer a sensible alternative or shut up.

[Gmack7]

Hibernian is a club that meets its obligations:greengrin:greengrin for any charity theifs looking in:na na:

[Brightside]

Another smack out of the park. She's good eh!? This Riley fella needs to resign from his made up job asap. Another clown on what has been a busy forthnight for the circus.

[matty_f]

That's a good response. Well done Hibs.

[Jack]

In times gone by the club would have hidden under its stone rather than challenged statements from the Low Bhoy and MR.

Good to see we've grown a pair despite the obvious ;-)

[Hibbyradge]

Not that i'd do it, but dumb and dumber 2 is out. Someone really should...........:wink:

http://www.scotsman.com/webimage/1.2214553.1333537386!image/192213299.jpg_gen/derivatives/landscape_595/192213299.jpg

http://i1.dailyrecord.co.uk/incoming/article4043087.ece/alternates/s615/GP16989151.jpg

[trev the hat]

Excellent detailed thorough statement from Hibs again !!
Mike Riley makes me want to cancel my HSA membership his gaffs are Prince Phillip esc.
Time for ALL the mud slingers to move over, there's a club to support here & supporters who wish to support it.

[Arch Stanton]

Really hope the HSA members are having a few harsh words with Mr Reilly.
As for David Low - who cares what he thinks or says - he is irrelevant.

The club have made various statements this week to answer a small but vocal minority of people - all have answered the questions raised - good on them.
Time for these small minority of people to shut up and get behind the club.

I wonder how big the HSA is - it's certainly sounding like a one-man band.

It would be interesting to see a poll or petition showing how the numbers stack up in terms of fan support - a landslide in favour of Hibs you would think.

[Pete]

Hopefully these statements have answered some questions for people.

Mike Rielly, Kano and a lot of the HOH guys shouldn't be ridiculed as they obviously care deeply and are actually assets.

We are all winners here and anyone who still fails to see that is being deliberately obtuse for some reason.

It's not a battle.

[Greenworld]

Mike reilly needs to tender his resignation the fans do not need a so called leader like him. What does he and the other fsn groups not agreeing want exactly.........almost every other club would cut there hands of to be in our position

[Col2]

I think Mr Reilly might have some more spare time on his hands soon.

[givescotlandfreedom]

🙌🙌🙌🙌🙌👏👏👏👏. Well done Hibs

One of the things that frustrated me the most was the club's silence when (wrongly) criticised or attacked. It's great to see some bite.

[GreenCastle]

Hopefully these statements have answered some questions for people.

Mike Rielly, Kano and a lot of the HOH guys shouldn't be ridiculed as they obviously care deeply and are actually assets.

We are all winners here and anyone who still fails to see that is being deliberately obtuse for some reason.

It's not a battle.

Agreed - while some may not agree with the way they have acted they have asked important questions that needed answered.

I still have little faith in Farmer and RP though after previous years problems.

I have a feeling this is far from over though-but makes a change Hibs saying something instead - these statements wouldn't have been posted unless fans had made such a fuss.

[Pretty Boy]

Mike reilly needs to tender his resignation the fans do not need a so called leader like him. What does he and the other fsn groups not agreeing want exactly.........almost every other club would cut there hands of to be in our position

Mike Reilly isn't the fans leader. He's chairman of the HSA which represents a minority of Hibs fans and speaks only on behalf of the membership of that organisation. It's up to them to challenge him and/or remove him from his position.

[hibsbollah]

I don't think I've ever agreed with anything Reilly has said.

[Greenworld]

Yes I understand its the hsa but for gods sake pretty boy the guy is an embarrassment

[Smartie]

Hopefully these statements have answered some questions for people.

Mike Rielly, Kano and a lot of the HOH guys shouldn't be ridiculed as they obviously care deeply and are actually assets.

We are all winners here and anyone who still fails to see that is being deliberately obtuse for some reason.

It's not a battle.

Yep - spot on.

The statement providing info on the mortgage, then this, have answered a lot of questions I had.

And whilst the content is good it is the delivery that has impressed me most. Clear, concise and to the point, directly answering questions and demonstrating a no-nonsense approach to making this whole process as transparent as possible. I'm very impressed indeed. Again it really shows the past few years up for what they were.

Shame I'm skint really, but who knows what may lurk down the back of the sofa.

[Golden Bear]

Mike Reilly isn't the fans leader. He's chairman of the HSA which represents a minority of Hibs fans and speaks only on behalf of the membership of that organisation. It's up to them to challenge him and/or remove him from his position.

And on this occasion he's spouted his drivel without the authorisation of the HSA as a whole. Forget any thoughts of resignation, it should be a case of instant dismissal.

[Pretty Boy]

And on this occasion he's spouted his drivel without the authorisation of the HSA as a whole. Forget any thoughts of resignation, it should be a case of instant dismissal.

Agreed.

As I said though that's up to the members to decide.

People, including the press, refering to him as a 'fans chief' or whatever are just giving him an importance he doesn't deserve or have.

[stoneyburn hibs]

Not before time that the club spoke out,long may it continue. I also hope that these two groups fade back into the crowd and basically back the club's plan's. No more pish from HOH.

[DC_Hibs]

HSA contact address - info@hibsclub.co.uk

Surely the branches will be putting some pressure onto this buffoon....if their members agree of course.

[blackpoolhibs]

http://www.scotsman.com/webimage/1.2214553.1333537386!image/192213299.jpg_gen/derivatives/landscape_595/192213299.jpg

http://i1.dailyrecord.co.uk/incoming/article4043087.ece/alternates/s615/GP16989151.jpg

If only i knew how Dave? :confused:

[Baldy Foghorn]

Agreed.

As I said though that's up to the members to decide.

People, including the press, refering to him as a 'fans chief' or whatever are just giving him an importance he doesn't deserve or have.

The press give the "fans chief" label, I have had it on one of my press releases, and was raging at the time:greengrin

[gorgie greens]

I cant understand why Hibs never bit Low's hand off at such a generous offer and as for Reilly ,engage brain before moving lips.
Say one thing about the yams ,they all sang from the same hymn sheet.

[Kaff]

Good to have these Statements and news items released by the club. We're definitely on the way back and i'm proud of the way the club are being positive in taking on any unfounded criticism.

[Baldy Foghorn]

Good to have these Statements and news items released by the club. We're definitely on the way back and i'm proud of the way the club are being positive in taking on any unfounded criticism.

:agree::agree::agree:

[Baldy Foghorn]

I cant understand why Hibs never bit Low's hand off at such a generous offer and as for Reilly ,engage brain before moving lips.
Say one thing about the yams ,they all sang from the same hymn sheet.

Snap, crazy of Hibs to knock it back:greengrin

[kaimendhibs]

What a cheek by Hibs. Can't imagine why they would turn down a bid of ZERO pounds for the club! 😝

[worcesterhibby]

Go leanne..go Hibs…shut up Riley..you do not represent Hibs fans in any way

[Pretty Boy]

The press give the "fans chief" label, I have had it on one of my press releases, and was raging at the time:greengrin

I know you might not wish to say on here but would the HSA chairmanship be a position that in time would interest you?

You're a relatively well known face, know the HSA well and must have a level of respect amongst the membership.

[CropleyWasGod]

What a cheek by Hibs. Can't imagine why they would turn down a bid of ZERO pounds for the club! 😝
Was that in the media at the time? Struggling to remember.

Seem to mind STF saying the offer didn't meet...something. ...but might be making it up.

[BroxburnHibee]

Glad to see the club are not going to sit back and let people attack them anymore.

[Bleeds green]

HOH, Buy Hibs and MR what Lillian Gish excuse or conspiracies are you going to come out with now, uneducated, stone island worshipping phanees


Sent from my iPhone using Tapatalk

[Baldy Foghorn]

I know you might not wish to say on here but would the HSA chairmanship be a position that in time would interest you?

You're a relatively well known face, know the HSA well and must have a level of respect amongst the membership.

Hell no chance PB......

[CropleyWasGod]

Glad to see the club are not going to sit back and let people attack them anymore.
Think it reflects the different characters of RP and LD. Rod has never been comfortable in the spotlight. LD, though, is a woman in a man's world. .. and happy to bring it on.

[Turkish Green]

Debts should be paid. And if you can repay them with 0% interest then jolly good.

While the club has far better repayment terms, it still has to find £500K per year which is not helped with poor ST sales and skirmishes between the various warring factions.

[HappyAsHellas]

14129

[kaimendhibs]

Was that in the media at the time? Struggling to remember.

Seem to mind STF saying the offer didn't meet...something. ...but might be making it up.

Unless I've read it wrong it's in today's official statement.


Sent from my iPhone using Tapatalk

[PatHead]

HOH, Buy Hibs and MR what Lillian Gish excuse or conspiracies are you going to come out with now, uneducated, stone island worshipping phanees


Sent from my iPhone using Tapatalk

Really don't think we should be getting into snide and unhelpful remarks. Surely time to build bridges.

[IanM]

Superb response

Anyone else reading the statement doing this?

http://youtu.be/xbvvgwz2MGQ

Or that just me :p

[blackpoolhibs]

Hell no chance PB......

I'm sure you'd look suave in one of those green jackets Steve? :greengrin

[DaveF]

Really don't think we should be getting into shide and unhelpful remarks. Surely time to build bridges.

You're right but its perhaps understandable given some of the nonsense being fired the other way.

Everyone should be pulling together but there appears to be far too much bitterness involved (for whatever reason) for that happen.

Hope I'm wrong on that.

[WillowbraeHibby]

Think it reflects the different characters of RP and LD. Rod has never been comfortable in the spotlight. LD, though, is a woman in a man's world. .. and happy to bring it on.


Long may she continue.... :flag::flag:

[kaimendhibs]

Was that in the media at the time? Struggling to remember.

Seem to mind STF saying the offer didn't meet...something. ...but might be making it up.

In Mr Low’s opinion, shares in Hibernian Football Club “continue to have a negligible economic value”. Last summer Mr Low offered to acquire the entire issued share capital of the Club for a nil consideration. In other words, he required all 1,700 existing shareholders, including the holding company, to give up their shares to him for nothing. Mr Low’s current valuation of the Club’s shares is consistent with his approach seven months ago.


Sent from my iPhone using Tapatalk

[Baldy Foghorn]

I'm sure you'd look suave in one of those green jackets Steve? :greengrin

I could pretend I won the Masters:greengrin

[HibbyRod]

Hell no chance PB......


I'd vote for you BF! :thumbsup: (If I had a vote obviously! )

[Baldy Foghorn]

I'd vote for you BF! :thumbsup: (If I had a vote obviously! )

Do you not like me?:greengrin

[Gerard]

Well done Hibs for being open and having the courage to explain our financial situation.:wink::top marks:top marks:top marks:top marks:top marks:top marks:top marks:top marks:top marks

[IanM]

Was Mike Reilly not a candidate to become a fan on the board?

If he's voted in can we have a vote of immediate no confidence for the big jobbie?

[Baldy Foghorn]

Was Mike Reilly not a candidate to become a fan on the board?

If he's voted in can we have a vote of immediate no confidence for the big jobbie?

No......

[Jonnyboy]

It would be interesting if any dot netters that are members of a branch committee came on here and shared their views on the statement made by Mike Riley

[Baldy Foghorn]

It would be interesting if any dot netters that are members of a branch committee came on here and shared their views on the statement made by Mike Riley

I was surprised by it JC......Bizarre

[blackpoolhibs]

I could pretend I won the Masters:greengrin

:greengrin

[HUTCHYHIBBY]

Good social media skelp across the knuckles with a ruler from Hibernian FC. Waiting in anticipation for the responses.

[Robinho08]

Hopefully these statements have answered some questions for people.

Mike Rielly, Kano and a lot of the HOH guys shouldn't be ridiculed as they obviously care deeply and are actually assets.

We are all winners here and anyone who still fails to see that is being deliberately obtuse for some reason.

It's not a battle.

Agreed. ☺

[Baldy Foghorn]

Good social media skelp across the knuckles with a ruler from Hibernian FC. Waiting in anticipation for the responses.

With any luck there won't be any responses, that should be it....

[Tyler Durden]

I said this morning that the club should call the bluff of these jokers and provide as much information as they could. Still surprised that they've done that so quick and thrown in some good digs in the process!

LD is smashing it.

[HUTCHYHIBBY]

Say one thing about the yams ,they all sang from the same hymn sheet.

They never had the choice we have. If they hadn't have acted their club would be down the pan, it's far from a comparable situation.

[Billy Whizz]

It would be interesting if any dot netters that are members of a branch committee came on here and shared their views on the statement made by Mike Riley

I was thinking the same Jonnyboy. I'm an independent traveller and not a member of any supporters club. Is Mike allowed to say what he wants, or is he the spokesperson for a number of fans?

[Bad Martini]

The club has changed. All these statements defending ourselves and putting things straight, not being ****ed over by the Sfa and Cummings ban. I'm liking this ****.

Meantime, that last statement was excellent. Why the **** should anyone get our club for **** all??

Well done Hibs.

ENDOF

[Baldy Foghorn]

The club has changed. All these statements defending ourselves and putting things straight, not being ****ed over by the Sfa and Cummings ban. I'm liking this ****.

Meantime, that last statement was excellent. Why the **** should anyone get our club for **** all??

Well done Hibs.

ENDOF

:aok::not worth

[HibbyRod]

Do you not like me?:greengrin

OK, I don't have a vote S! :greengrin

However, without a doubt you would be the man to sort these doughnuts out!

I demand your Coronation, immediately!!!! :agree:

You know it makes sense!!!

Nae joke! :agree:

[CropleyWasGod]

Unless I've read it wrong it's in today's official statement.


Sent from my iPhone using Tapatalk
Yeah, but what was said at the time?

[ehf]

Mike Rielly, Kano and a lot of the HOH guys shouldn't be ridiculed as they obviously care deeply and are actually assets.

They are ladies' front bottoms.

[kaimendhibs]

Yeah, but what was said at the time?

Sorry mate, no idea. I live in lanarkshire so don't get the Evening News


Sent from my iPhone using Tapatalk

[Lago]

Mike Reilly is totally out of his depth, comes across as the pub bore thinks he knows everything about anything.

[JimBHibees]

The club has changed. All these statements defending ourselves and putting things straight, not being ****ed over by the Sfa and Cummings ban. I'm liking this ****.

Meantime, that last statement was excellent. Why the **** should anyone get our club for **** all??

Well done Hibs.

ENDOF

Agree totally, fantastic to see the club developing a backbone.

[brog]

In Mr Low’s opinion, shares in Hibernian Football Club “continue to have a negligible economic value”. Last summer Mr Low offered to acquire the entire issued share capital of the Club for a nil consideration. In other words, he required all 1,700 existing shareholders, including the holding company, to give up their shares to him for nothing. Mr Low’s current valuation of the Club’s shares is consistent with his approach seven months ago.


Sent from my iPhone using Tapatalk

That is possibly the best & most clever statement I have read from Hibs. Polite, agrees with David Low but at the same time illustrates that this guy is a chancer looking for a quick buck! Hibs have been dignified & very quiet until now re Low's offer. He's now let the genie out the box & is suffering the consequences. None of us know if this is purely down to LD but the professional difference in our PR & promoting ourselves is staggering & long overdue. Great stuff!

[Lurkio]

There is only one thing about that statement that concerns me, and it's the last sentence.

"The take up of shares and the renewal of season tickets in March will add to the resources available to the Club to help achieve its sporting ambitions."

That tells me that the current financial situation is pretty dire. Another question for the AGM perhaps.

[Billy Whizz]

There is only one thing about that statement that concerns me, and it's the last sentence.

"The take up of shares and the renewal of season tickets in March will add to the resources available to the Club to help achieve its sporting ambitions."

That tells me that the current financial situation is pretty dire. Another question for the AGM perhaps.

Did Leean not say when she came in, that she thought Hibs fans were having to renew too early in March?
Thought this might have kicked on until April/May or so

[Pete]

There is only one thing about that statement that concerns me, and it's the last sentence.

"The take up of shares and the renewal of season tickets in March will add to the resources available to the Club to help achieve its sporting ambitions."

That tells me that the current financial situation is pretty dire. Another question for the AGM perhaps.

The financial situation is a lot better than it was last month.

[matty_f]

There is only one thing about that statement that concerns me, and it's the last sentence.

"The take up of shares and the renewal of season tickets in March will add to the resources available to the Club to help achieve its sporting ambitions."

That tells me that the current financial situation is pretty dire. Another question for the AGM perhaps.
I'm surprised you took that sentiment from that statement to be honest. The shares and the season tickets will add to the resources - that indicates that there are existing resources to fund the sporting ambition.

That isn't indicative of a dire financial situation - especially in the context of a club that finds itself bank-debt free.

[CropleyWasGod]

There is only one thing about that statement that concerns me, and it's the last sentence.

"The take up of shares and the renewal of season tickets in March will add to the resources available to the Club to help achieve its sporting ambitions."

That tells me that the current financial situation is pretty dire. Another question for the AGM perhaps.
Doesn't say that to me. The fact that we have "existing resources" is actually quite encouraging. The debt holiday helps, of course, but to have such resources in such a crap season, financially, has to be a good sign.

[jonty]

There is only one thing about that statement that concerns me, and it's the last sentence.

"The take up of shares and the renewal of season tickets in March will add to the resources available to the Club to help achieve its sporting ambitions."

That tells me that the current financial situation is pretty dire. Another question for the AGM perhaps.

Dire straits indeed. no such thing a money for nothing.


https://www.youtube.com/watch?v=wTP2RUD_cL0

[Pretty Boy]

I'm surprised you took that sentiment from that statement to be honest. The shares and the season tickets will add to the resources - that indicates that there are existing resources to fund the sporting ambition.

That isn't indicative of a dire financial situation - especially in the context of a club that finds itself bank-debt free.

I struggle to see how our financial situation could be perilous really at this time?

We have no secured creditors, our main debt is to a benign benefactor and we continue to meet our obligations as they fall due. Barring a significant change in policy then we're unlikely to face a winding up orders anytime soon.

[Hibs Class]

Not reading the entire thread, but seen the club statement. If he has any sense, and if he loves the club as he professes to, then we'll have heard the last of Mike "fan's chief" Riley. If he chooses to continue waging war on the club then hopefully it'll be open season on him.

[CropleyWasGod]

I struggle to see how our financial situation could be perilous really at this time?

We have no secured creditors, our main debt is to a benign benefactor and we continue to meet our obligations as they fall due. Barring a significant change in policy then we're unlikely to face a winding up orders anytime soon.
I'd be surprised if the loan isn't secured, TBH. The club have used the word "mortgage", and that suggests security to me.

However, that is not of itself a bad thing.

[fat freddy]

David Low comes across as an opportunist from what I've read about him. A Celtic fan that seemingly tried to get involved with Rangers. Not sure he has any business sticking his nose into Hibs affairs. Here is an article which sheds some light on his past.... FERGUS MCCANNS SIDEKICK SET TO JOIN GREEN

DAVID LOW is suspected of being ready to try to gatecrash the Green Gang, which is now on the very brink of taking over Rangers.

Low is the rabid Celtic supporter and financial consultant who was at the centre of the Fergus McCann takeover of Celtic in 1994 and who masterminded McCann’s moves.

Now I understand that Low has opened a channel of communication to Charles Green, the man at the centre of the latest group of bidders for Rangers to be granted privileged status by the now seriously compromised administrators, Duff and Phelps.

It is not yet known what the exact nature of the communication between David Low and Charles Green has been. But SO FAR, David Low is not yet believed to be acting as an advisor to Charles Green and the Green Gang.

This latest news about who is linked to the Green Gang will come as another stunning blow to Rangers supporters who are already deeply suspicious of the MEN of MYSTERY who are behind front man Green and who Green refuses to name.

Already, disgraced agent Paul Stretford and his pal and one time business partner, Kenny Dalglish, have been named as those who are being lined up to play a part in running Rangers if Charles Green and his Gang get their hands on the Ibrox title deeds.

Now it is believed Low’s name can be added to those linked with Charles Green. David Low is believed to have been in touch to offer his services to the Green Gang.

Low, who has described himself as being an unreconstructed Celtic fan, is a season ticket holder at Parkhead.

As well as acting as a financial consultant, David Low is also a publican in Glasgow and he owns McPhabs on Sauchiehall Street, just west of Charing Cross.

It is claimed that at a Champions League Final pub party on Saturday night there was wild talk among some Celtic fans about David Low getting his feet under the Ibrox boardroom table and milking Rangers.

The news will not come as any surprise to those with long memories. For this is not the first time David Low has been involved in a bid to take over Rangers.

Low’s first foray was revealed in a bombshell story in the Daily Record in April 2010 when David Low confirmed he had been asked by a senior member of the Rangers Trust to address a small Trust sub-committee and give them advice on how to organise a fans’ buy out.

Low never got the chance as, according to the story, three of the members of the Trust sub committee refused to give their permission to allow the Celtic man access to their plans.

Six months earlier, in October 2009, in an interview with Hugh McDonald in the Herald - Low’s favourite newspaper - Low boldly stated: “This is a good time to buy Rangers.”

David Low has a close relationship with the Herald and in December 2009, two months after that interview with Hugh McDonald appeared, the Herald published an extract from David Low’s book, The McCann Takeover: The Inside Account, written with Francis Sheenan and published by Bolista, which charted the key role he played in wresting Celtic away from the White and Kelly families and bringing in Fergus McCann in 1994.

Now it is believed David Low, a self confessed unreconstructed Celtic supporter, who in October 2009, declared it was a good time to buy Rangers, may still believe it is and may now want to be part of Charles Green’s mysterious and extremely suspicious bid to snare Rangers, with the help of the probably soon to be under investigation administrators, Duff and Phelps.

And in another twist which will horrify Rangers supporters, I can reveal that David Low is a close confidant and contact of Odious Creep and if Low links with the Green Gang and moves in to take control of Rangers, Creep will be given unfettered access inside Ibrox.

Of course there are many Rangers supporters out there who will now accuse me of scaremongering. But they are the same fans who dismissed my attacks on Bill Ng, Bill Miller, the Chicago Mob and Andrew Ellis as scaremongering.

And who also questioned my constant attacks on the credibility of Duff and Phelps, plus the questions I have posed about the integrity of Duff and Phelps and in particular Duff and Phelps managing director, David Whitehouse and senior partner, David Grier.

As I have been right about all of them, I wonder what chances my critics will give me of being correct about rabid Celtic fan and self confessed unreconstructed Celtic supporter, David Low?

[Mikey]

There is only one thing about that statement that concerns me, and it's the last sentence.

"The take up of shares and the renewal of season tickets in March will add to the resources available to the Club to help achieve its sporting ambitions."

That tells me that the current financial situation is pretty dire. Another question for the AGM perhaps.

Nice try Eric but you really have to be more careful next time.

Cheerio :bye:

http://hydc.co.uk/gallery/academy-galleries-201011/

[marinello59]

Nice try Eric but you really have to be more careful next time.

Cheerio :bye:

http://hydc.co.uk/gallery/academy-galleries-201011/

:greengrin

[w pilton hibby]

There is only one thing about that statement that concerns me, and it's the last sentence.

"The take up of shares and the renewal of season tickets in March will add to the resources available to the Club to help achieve its sporting ambitions."

That tells me that the current financial situation is pretty dire. Another question for the AGM perhaps.

Oh FFS.

'That tells me that the current financial situation is pretty dire.'

It tells me that our CEO is advising that although all monies from share sales will go towards sporting ambition the majority of our spending will be met from season ticket revenue.

Your unfailing negativity means that this is how you read it. Nothing else.

[Pretty Boy]

Oh FFS.

'That tells me that the current financial situation is pretty dire.'

It tells me that our CEO is advising that although all monies from share sales will go towards sporting ambition the majority of our spending will be met from season ticket revenue.

Your unfailing negativity means that this is how you read it. Nothing else.

Don't worry about him, he's a Hearts fan and has been duly emptied.

[CentreLine]

Nice try Eric but you really have to be more careful next time.

Cheerio :bye:

http://hydc.co.uk/gallery/academy-galleries-201011/

My goodness you took your time but a belter of a send off :thumbsup:

[Barney McGrew]

A yam trying to lecture us on debt.

You really couldn't make it up.

[Spike Mandela]

Have never known the club so publically outspoken.

[Hibbyradge]

Nice try Eric but you really have to be more careful next time.

Cheerio :bye:

http://hydc.co.uk/gallery/academy-galleries-201011/

:faf:

Oh ma sides.

[lucky]

Mike Reillys role at the HSA is more about running the club rather than being a spokesman for the supporters. By all accounts the club is ran well but his public comments are awful. I doubt there will be a challenge to Mike about his latest gaffe

[FranckSuzy]

If there was one smilie which summed up the club's response, it is :spammy: Mind you, I suppose you could chuck in a :na na: for good measure too :thumbsup:

[blackpoolhibs]

If there was one smilie which summed up the club's response, it is :spammy: Mind you, I suppose you could chuck in a :na na: for good measure too :thumbsup:

I prefer this one. :slipper:

[Jack]

Really don't think we should be getting into snide and unhelpful remarks. Surely time to build bridges.

While I agree, I don't think it would be in anyone's best interest to hod their breath.

[FranckSuzy]

I prefer this one. :slipper:


We know that :rolleyes: :tee hee:

[macca70]

The Hibs Supporters Club has improved significantly since Reilly took over as it was in danger of really going doon the pan.

But as Chairman of HSA he should not be coming out with any damaging statements about the club at a time when things are starting take turn for the better and we're in the best position we've been in years.

Reilly seems self obsessed determined to make a name for himself.

After these comments, I think the the members should be demanding his resignation.

[FranckSuzy]

Just putting this out there.....but is there not a chance that MR could have been misquoted...? :tin hat: I think I will reserve judgement until I hear, from him, what he actually said :agree:

[marinello59]

Just putting this out there.....but is there not a chance that MR could have been misquoted...? :tin hat: I think I will reserve judgement until I hear, from him, what he actually said :agree:

Wasnt it a press release? Hard to misquote that.

[DaveF]

Just putting this out there.....but is there not a chance that MR could have been misquoted...? :tin hat: I think I will reserve judgement until I hear, from him, what he actually said :agree:

http://www.scotsman.com/sport/football/spfl-lower-divisions/hibs-supporters-group-chief-rejects-ownership-plan-1-3669431

[blackpoolhibs]

Just putting this out there.....but is there not a chance that MR could have been misquoted...? :tin hat: I think I will reserve judgement until I hear, from him, what he actually said :agree:

Going by previous bollox he's spouted, its a no from me.

[PatHead]

Just putting this out there.....but is there not a chance that MR could have been misquoted...? :tin hat: I think I will reserve judgement until I hear, from him, what he actually said :agree:

Wouldn't be the first time the press have been selective in chosing their quotes and the context in which they were said.

[kaimendhibs]

Just putting this out there.....but is there not a chance that MR could have been misquoted...? :tin hat: I think I will reserve judgement until I hear, from him, what he actually said :agree:

MMmm, no

[macca70]

Just putting this out there.....but is there not a chance that MR could have been misquoted...? :tin hat: I think I will reserve judgement until I hear, from him, what he actually said :agree:

This is a direct quote:

“I, myself, would advise fans not to put money in but I have made it clear these are my personal views as chairman.”

[NAE NOOKIE]

Lovin' this from the club and LD .... Its about time.

With all the information the club has released I really cant see how anybody can still doubt their intentions or honesty. There are a few good Hibbies out there who have been at odds with the club lately with the best of intentions, but as far as I can see things have moved on now and its time to bury the hatchet and come together. I cant help but question the motives of anybody now who still wants to be at odds with the club.

[Beefster]

Just putting this out there.....but is there not a chance that MR could have been misquoted...? :tin hat: I think I will reserve judgement until I hear, from him, what he actually said :agree:

I'm not sure in what way advising Hibs supporters not to contribute to HSL or buy shares could be misquoted. Having said that, now that he's been made to look an utter trumpet by Hibs and probably has unhappy branches on his hands, I wouldn't be overly surprised to see a u-turn of monumental proportions and claims of being mis-quoted/taken out of context etc.

[PatHead]

Wonder how many folk still think Leanne is a puppet for RP now? This would never have happened on his watch.

[Mikey]

Wonder how many folk still think Leanne is a puppet for RP now? This would never have happened on his watch.

I've been telling them for years that they need to speak out sometimes to quash the rumour, misinformation and lies. There are still people out there who think they pocketed the car park money.

[Just Alf]

I've been telling them for years that they need to speak out sometimes to quash the rumour, misinformation and lies. There are still people out there who think they pocketed the car park money.

They DIDN'T?????








:offski:

[John_the_angus_hibby]

“I, myself, would advise fans not to put money in but I have made it clear these are my personal views as chairman.”

By mentioning "as chairman" reduces any meaning as to it being a personal statement. He should have said "and not as chairman".

Twat.

Great comms Hibs. Keep it up. We are now heading a better direction, so can the Low's and Reilly's not just do one.


Sent from my iPhone using Tapatalk

[Hibbyradge]

They DIDN'T?????








:offski:

Nope.

That was me. :agree:

#minted

[emerald green]

Well, that's certain people put very firmly in their place I would say.

It's really great to see some firm leadership from those running this club at long long last.

[blackpoolhibs]

Well, that's certain people put very firmly in their place I would say.

It's really great to see some firm leadership from those running this club at long long last.

:agree:

[Argylehibby]

I've been telling them for years that they need to speak out sometimes to quash the rumour, misinformation and lies. There are still people out there who think they pocketed the car park money.

It was raised a few months back at a WT meeting that the club were too soft in general dealing with negative articles and comments in press / tv etc. One of the examples raised was the way Steven Thomson was allowed to accuse 2 of our players (on separate ocassians) of cheating and the club said nothing. I hope that this is a sign of things to come and that this "don't mess with us" attitude will extend beyond the share issue and we will now challange the likes of Thomson (and his namesake referee) when they step out of line.

[Just Alf]

Nope.

That was me. :agree:

#minted

Sorted! :greengrin

[Spike Mandela]

It's worth remembering that we are a Championship club with a £5m debt.

Whilst the reduction in bank debt and debt consolidation is welcome I would say financially "we're doing well, but we're no doing great".

We really need a big uptake in these shares if we want to augment our 'sporting ambition' especially if our stay in the championship is an extended one.

[Keith_M]

I'm not a member of the HSA but how that man has remained in office so long - despite his numerous public howlers - really does beggar belief.

Excellent response from the club.


:agree:

[CropleyWasGod]

It's worth remembering that we are a Championship club with a £5m debt.

Whilst the reduction in bank debt and debt consolidation is welcome I would say financially "we're doing well, but we're no doing great".

We really need a big uptake in these shares if we want to augment our 'sporting ambition' especially if our stay in the championship is an extended one.
I'd rather the money came in slowly, but steadily.
If we have, say,2m by August, every player and his agent wil be putting their wages up. If we get it over 2 to 3 years, we can spend it more wisely.