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View Full Version : Hibs are totally skint and on the edge of administration



Hibbyradge
01-09-2017, 09:13 AM
I'd first like to point out that I understand that everything is relative.

I remember feeling "minted" when, as a 14 year old, I found a £20 note in an empty packet of Kensitas King Size I'd been kicking along the street.

On the contrary, I know very wealthy self employed people who "can't afford" to take a couple of days off for a golf trip.

But I can't quite rationalise the comments I read from hearts supporters who are baffled that Hibs could afford the transfer window we've just had, whilst holding on to John McGinn.

We're clearly in big trouble.

Could some of our resident financial aficionados please outline exactly how perilous a state our fiscal affairs are in, and give a rough estimate as to when we can expect a 15 point deduction for going into administration.

Yours,

Crippled by worry in York

Kato
01-09-2017, 09:16 AM
I believe the term is "tick-tock".

Bostonhibby
01-09-2017, 09:18 AM
They really are idiots.

We just knocked back offers of upwards of a million which our directors would grab if the numbers supported their funny wee tale.

You'd think they'd know what a real administration and run up to it would look like by now.

All those creditors and the smell won't go away.

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FilipinoHibs
01-09-2017, 09:22 AM
They really are idiots.

We just knocked back offers of upwards of a million which our directors would grab if the numbers supported their funny wee tale.

You'd think they'd know what a real administration and run up to it would look like by now.

All those creditors and the smell won't go away.

Sent from my SM-J320FN using Tapatalk

We moved players on and brought players in with no or little transfers fees paid but £1 mill plus for Cummings. Increased season ticket sales and bigger away support in this league worth £2 mill plus. Allows us to pay a higher wage for players coming in.

Arch Stanton
01-09-2017, 09:23 AM
Pretty dire outlook I agree, but at least we will know what to do about it.

Foundation of Hibs anyone?

SON OF PADDY
01-09-2017, 09:27 AM
I'd first like to point out that I understand that everything is relative.

I remember feeling "minted" when, as a 14 year old, I found a £20 note in an empty packet of Kensitas King Size I'd been kicking along the street.

On the contrary, I know very wealthy self employed people who "can't afford" to take a couple of days off for a golf trip.

But I can't quite rationalise the comments I read from hearts supporters who are baffled that Hibs could afford the transfer window we've just had, while holding on to John McGinn.

We're clearly in big trouble.

Could some of our resident financial aficionados please outline exactly how perilous a state our fiscal affairs are in, and give a rough estimate as to when we can expect a 15 point deduction for going into administration.

Yours,

Crippled by worry in York





I'll admit right now "I'm no expert" but basically we just copied the famous Heart's master plan.
As a famous football pool's winner once said !
"Spend Spend Spend " 💸💸💸💸💸💸

jakedance
01-09-2017, 09:28 AM
I think the real turning point for our finances was advancing out the group stages of the league cup.

Bostonhibby
01-09-2017, 09:29 AM
Pretty dire outlook I agree, but at least we will know what to do about it.

Foundation of Hibs anyone?Great idea. We can all save money up to buy shares in our club.

Then follow the yam model and divert it instantly to working capital, maintenance, building a stand then whatever Mrs Budge decides to do next with their money. Funding the next big crisis event should be interesting.

Still not one share for the share ownership super model.

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Hibbyradge
01-09-2017, 09:35 AM
I think the real turning point for our finances was advancing out the group stages of the league cup.

:faf:

Good point, well made.

Borderhibbie76
01-09-2017, 09:40 AM
They really don't have a clue do they...unlike them we own out stadium our VERY OWN training ground (no rent paid or kicked out to let the 3rd eleven play rugby) we had years of allowing the playing side to suffer whilst we built all of the above. Now they have 3 crumbling stands and a 4th they are struggling to complete, a relatively poor squad of unknowns bar 1 or 2 and a megalomaniac in charge of everything from the boardroom to the pitch. Suck it up Jambos....this is how it feels on a level playing field 🤣🤣🤣

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SirDavidsNapper
01-09-2017, 09:43 AM
Turning down over a million when we are crippled financially. Blatant cheating if you ask me.

snooky
01-09-2017, 09:47 AM
The minute we start dipping into charity boxes I will agree with them.

FilipinoHibs
01-09-2017, 09:49 AM
They really are idiots.

We just knocked back offers of upwards of a million which our directors would grab if the numbers supported their funny wee tale.

You'd think they'd know what a real administration and run up to it would look like by now.

All those creditors and the smell won't go away.

Sent from my SM-J320FN using Tapatalk
They did not have a clue even when the Ukio Bankas was in trouble it was ok because they were dealing with the invrstment co. They never wondered where the money was coming from. Never questioned how Romanov could wtite off debt or convert to shares. We are seeing the same denial over their farce of a stand. I think they are the group to take financial warnings from.y

Kojock
01-09-2017, 09:49 AM
Speculate to accumulate, it's the only way. It would be worth suffering the embarrassment of administration if we won a cup and could make hand gestures at our neighbours.

Bostonhibby
01-09-2017, 09:49 AM
The minute we start dipping into charity boxes I will agree with them.Signing the tranmere fans scapegoat that morecambe sent back plus a guy from relegated Raith is just one step away from having to dip into the charity box again surely?

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Bostonhibby
01-09-2017, 09:52 AM
They dud not have a clue even when the Ukio Bankas was in trouble it was ok because they were dealing with the invrstment co. They never wondered where the money was coming from. Never questioned how Romanov could wtite off debt or convert to shares. We are seeing the same denial over theur of a stand. I think they are the group to take financial warnings from.[emoji106] owing to yourselves seemed to be their preferred method of avoiding the consequences of the inevitable administration event.

They know their stuff. Never learn.

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660
01-09-2017, 09:55 AM
I'm still getting over the shame of cheating by negotiating the payment of a debt to our creditors as opposed to going into administration.

southern hibby
01-09-2017, 09:55 AM
Difference between us being skint and them is the number 4.

They have 4 fingers and 1 thumb on one hand and 1 finger on the other. We know this because they show us every opportunity they get. This adds up to 6.

We on the other hand ( pardon the pun ) have 4 fingers and 1 thumb on each hand adding up to 10.

This is why they can't add like normal everyday folk. Oh no, no, no they add like the idiots they are.

Tell them Not to worry about us but bother about, shares for their money that's going to pay for a stand they haven't got the money for. Or world class players they really don't have or will anytime soon or getting humpt of big teams in Scotland like Peterhead.

I firmly believe they have only 1 agenda in life, to get 1 over Hibs, everything else is irrelevant to them. Probably only saved their club so they have something in their petty little lives to dream about, getting something over us.

GGTTH

Sir David Gray
01-09-2017, 10:06 AM
You're not really skint if you owe it to yourself.

FilipinoHibs
01-09-2017, 10:08 AM
You're not really skint if you owe it to yourself.

Unfortunately as they found out you can borrow from yourself but eventualky have to pay it back

surreyhibbie
01-09-2017, 10:09 AM
Great idea. We can all save money up to buy shares in our club.

Then follow the yam model and divert it instantly to working capital, maintenance, building a stand then whatever Mrs Budge decides to do next with their money. Funding the next big crisis event should be interesting.

Still not one share for the share ownership super model.

Sent from my SM-J320FN using Tapatalk

But, but, they had a shareholders meeting last night....didn't think they had any?

well, they have one shareholder, but she wasn't there...:confused:

Colr
01-09-2017, 10:11 AM
Pretty dire outlook I agree, but at least we will know what to do about it.

Foundation of Hibs anyone?

We'll be fine. I can bake pretty excellent cakes.

Keith_M
01-09-2017, 10:12 AM
I heard that STF is subsidising Hibs year after year, which is obviously against the FFP rules, but has now got fed up and is going to put Hibs into Administration to clear our debts by Christmas.

We're currently collecting money for various charities and those funds are being used to pay the players in drabs and drabs.

To distract attention from all of the above, we've sent undercover agents in to the construction companies building Hearts' new stand and are deliberately making a mess of it to make them look bad.

MyJo
01-09-2017, 10:13 AM
You're not really skint if you owe it to yourself.

They would have got away with it if it wasn't for those pesky charities and local business that they also owed money to.

surreyhibbie
01-09-2017, 10:14 AM
I heard that STF is subsidising Hibs year after year, which is obviously against the FFP rules, but has now got fed up and is going to put Hibs into Administration to clear our debts by Christmas.

We're currently collecting money for various charities and those funds are being used to pay the players in drabs and drabs.

To distract attention from all of the above, we've sent undercover agents in to the construction companies building Hearts' new stand and are deliberately making a mess of it to make them look bad.

The last bit sounds like a good idea...

Keith_M
01-09-2017, 10:14 AM
But, but, they had a shareholders meeting last night....didn't think they had any?

well, they have one shareholder, but she wasn't there...:confused:


I believe both the Director of Football and the Head Coach were there, and spent a lively evening pinging pointed questions back and forward.

Ozyhibby
01-09-2017, 10:27 AM
The last bit sounds like a good idea...

But totally unnecessary as it appears to be happening anyway. [emoji23]


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high bee
01-09-2017, 10:30 AM
It's clear that we were budgeting on selling our stars for top dollar but then they got injured/refused to sign new contracts so they are all leaving for free or a dev fee if we're lucky.

Might need to cancel my sky subscription so I can increase my D/D to the club. After all Queen B is giving up £300k in interest to pay for the stand or is she just postponing the payment of it? I can't tell anymore.

--------
01-09-2017, 10:38 AM
I have the email address of a kindly Nigerian general who'll gladly give the club $6,000,000. All they have to do is send him the details of the club's general purposes bank account and he'll make 'the transfer'.

I was speaking to him on the telephone the other day and he seems to know a great deal about Edinburgh - especially the Gorgie end of the town.

Strangely, he speaks with a Lithuanian accent ... :vladsheep:

greenginger
01-09-2017, 10:41 AM
Great idea. We can all save money up to buy shares in our club.

Then follow the yam model and divert it instantly to working capital, maintenance, building a stand then whatever Mrs Budge decides to do next with their money. Funding the next big crisis event should be interesting.

Still not one share for the share ownership super model.

Sent from my SM-J320FN using Tapatalk

Not quite 100% true.

Some deceased Jambo willed his shares to FoH , so they have a couple of hundred.

That will be about 0.0000000001 % since Vlad diluted the share holding to hell.

SuperAllyMcleod
01-09-2017, 10:43 AM
We'll be fine. I can bake pretty excellent cakes.

Thank goodness for that - I'm a useless baker and was worried that I'd have sleepless nights wondering where the cakes were coming from.

Thought about buying from Greggs and selling them on - not at full price obviously [emoji4]

HUTCHYHIBBY
01-09-2017, 10:49 AM
We'll be fine. I can bake pretty excellent cakes.

Is that better or worse than exceedingly good?

bigwheel
01-09-2017, 10:52 AM
I'd first like to point out that I understand that everything is relative.

I remember feeling "minted" when, as a 14 year old, I found a £20 note in an empty packet of Kensitas King Size I'd been kicking along the street.

On the contrary, I know very wealthy self employed people who "can't afford" to take a couple of days off for a golf trip.

But I can't quite rationalise the comments I read from hearts supporters who are baffled that Hibs could afford the transfer window we've just had, whilst holding on to John McGinn.

We're clearly in big trouble.

Could some of our resident financial aficionados please outline exactly how perilous a state our fiscal affairs are in, and give a rough estimate as to when we can expect a 15 point deduction for going into administration.

Yours,

Crippled by worry in York

It is quite simple...they remain hugely embarrassed by the outrageous cheating and debt that took them in to administration , and they dream that something will happen like that to us..to help them feel a bit better

Michael
01-09-2017, 10:53 AM
We didn't sign about 10 players in January which helps.

Keith_M
01-09-2017, 10:53 AM
I'm currently baking some Pumpernickel. Hopefuly it'll make a dent in our massive debts...


...though probably only if I throw it at the Bank Manager.

Hibbyradge
01-09-2017, 10:53 AM
Is that better or worse than exceedingly good?

Better, I would think.

They're pretty and they're excellent.

Bostonhibby
01-09-2017, 10:55 AM
Not quite 100% true.

Some deceased Jambo willed his shares to FoH , so they have a couple of hundred.

That will be about 0.0000000001 % since Vlad diluted the share holding to hell.Bloody hell, no wonder it's held out as the best ownership model in the world. Happy to stand corrected.

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Iain G
01-09-2017, 10:57 AM
The problem is we keep buying two bags of sweeties instead of just the one, it's costing us double what we need to be paying, no wonder we are skint!

MyJo
01-09-2017, 11:08 AM
This is getting really serious guys, does anyone have a large model of a farmyard animal spare that we could lend the club? :dunno:

Deansy
01-09-2017, 11:13 AM
I'd first like to point out that I understand that everything is relative.

I remember feeling "minted" when, as a 14 year old, I found a £20 note in an empty packet of Kensitas King Size I'd been kicking along the street.

On the contrary, I know very wealthy self employed people who "can't afford" to take a couple of days off for a golf trip.

But I can't quite rationalise the comments I read from hearts supporters who are baffled that Hibs could afford the transfer window we've just had, whilst holding on to John McGinn.

We're clearly in big trouble.

Could some of our resident financial aficionados please outline exactly how perilous a state our fiscal affairs are in, and give a rough estimate as to when we can expect a 15 point deduction for going into administration.

Yours,

Crippled by worry in York

Blame it on 'Jambo Throwbacks' - credit to Hearts as NO other club has such a site !. JKB is a fans 'Virtual Wishing-Well' - they just post whatever keech is on their (slow, damaged) minds at the time and wish it comes true !. Unfortunately, the collective Jambo I.Q. being what it is, the 'Wish' becomes fact and then, again, in typical Jambo fashion, the 'Wish' grows arms and legs !

Running a full-time, professional football club honestly is NOT something our neighbours have much experience of (well, apart from what they read about us) and shouldn't be laughed at - if anything they're more to be pitied, really. All that money and effort they've put into saving their club but 2 seasons of 'Playing Within Their Means' and already there's signs of them returning to that very, very dark place .......................

tamig
01-09-2017, 11:14 AM
We didn't sign about 10 players in January which helps.

Only because of the perilous state of our finances obviously.

wpj
01-09-2017, 11:21 AM
This is getting really serious guys, does anyone have a large model of a farmyard animal spare that we could lend the club? :dunno:

Maybe we could put a model caravan in the lobby at ER to collect coins? Hobo aid, peg shaped cakes?

Jack Hackett
01-09-2017, 11:25 AM
Balloons with an inflated sense of importance... And we all know what happens when you over inflate a balloon.

007
01-09-2017, 11:26 AM
We didn't sign about 10 players in January which helps.

And we don't bin most of our new players within a few months.

snooky
01-09-2017, 11:30 AM
We'll be fine. I can bake pretty excellent cakes.

Aha - we're blessed with yet another Baker Boy :aok:

rodhibs55
01-09-2017, 11:30 AM
Don't we have and Owl, and old bath and some signs we can sell.

lord bunberry
01-09-2017, 11:31 AM
I think the time has come for a beat the goalie competition

Mick O'Rourke
01-09-2017, 11:33 AM
They really don't have a clue do they...unlike them we own out stadium our VERY OWN training ground (no rent paid or kicked out to let the 3rd eleven play rugby) we had years of allowing the playing side to suffer whilst we built all of the above. Now they have 3 crumbling stands and a 4th they are struggling to complete, a relatively poor squad of unknowns bar 1 or 2 and a megalomaniac in charge of everything from the boardroom to the pitch. Suck it up Jambos....this is how it feels on a level playing field 🤣🤣🤣

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I thought at first it read bedroom !

lord bunberry
01-09-2017, 11:36 AM
I thought at first it read bedroom !
Same thing with that lot :greengrin

Speedy
01-09-2017, 11:39 AM
Turning down over a million when we are crippled financially. Blatant cheating if you ask me.

What's the point in getting money in if it's only going to go to our creditors. Might as well keep the player :greengrin

MyJo
01-09-2017, 11:46 AM
Don't we have and Owl, and old bath and some signs we can sell.

Unfortunately not, the only thing the club own is the largest football stadium in edinburgh and our own dedicated training facility, that's the drawback of being the wee team when times are tought like this.

SirDavidsNapper
01-09-2017, 11:59 AM
Does this mean we could take the administration cup Hearts won against Dunfermline off them? Haha whose laughing now yams?

pentlando
01-09-2017, 12:07 PM
The problem is we keep buying two bags of sweeties instead of just the one, it's costing us double what we need to be paying, no wonder we are skint!

We could always employ Colin Calderwood to help us cut back on this...he's excellent at looking in both bags before choosing the better bag :dunno:

Radium
01-09-2017, 12:10 PM
Surely this can't be true

https://uploads.tapatalk-cdn.com/20170901/67f59f41614f3e1e632c368ce0edd53a.png

[emoji850]


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NAE NOOKIE
01-09-2017, 12:16 PM
It has to be said the signs are there that we are heading towards an administration event like the one Hearts went through.

After the shame of Tom Farmer sitting down with the bank and negotiating a mutually agreed settlement for our debt I understand he is currently on the run and hiding in a wardrobe two flats along from mad Vlad in Moscow ..... I have to thank JKB for educating me on this one, I thought negotiations like this were above board and fairly common business practice, I now know that its cheating the taxpayer.

The share issue is a con as well .... every penny is going straight into STF's pocket as is the season ticket money, I know this from JKB and eventually the authorities will start asking questions about where we are getting the money to pay player and staff wages because its clearly not from these sources ..... I have to admit that's a real worry ..... How long until an investigation of Farmer's business dealings reveal that he has massive interests in pension funds and the like from which he is diverting money into the club through one of Rod Petrie's shady offshore accounts?

The Hearts fans are giving us a wake up call here and given what happened to them we would do well to pay attention, they ignored our warnings and look what happened. We should have seen the signs ourselves a few years back when Farmer's mouthpiece Petrie came out with all that nonsense about brand new east stands delivered on time and on budget with a capacity of over 6,000 completing a fully UEFA compliant stadium the fans could be proud of ........ whatever happened to that ????

TICK !!! TOCK !!!

Onion
01-09-2017, 12:17 PM
No surprise, been overspending for 3 years now.

Sooner Hibs go into Admin, the sooner we can focus on making up the 15 point penalty. Hibs being above honest clubs like Hearts is just embarrassing.

Still think we can win the Cup, though :aok:

Deansy
01-09-2017, 12:17 PM
An example of the average Jambo's knowledge of all-things financial - from a thread in 'Jambo Throwback's in 2009 discussing their debt (which was alleged to be approx £17m at that time) and what the actual amount was -

http://www.hmfckickback.co.uk/index.php?/topic/63271-l17m-payment/page-2


'So, there is no payment to be paid' ?


Sharp as a ball, eh !

High-On-Hibs
01-09-2017, 12:22 PM
I'll worry when we start holding cake bake sales and start paying washed up hasbeens to pull pints down by the club.

NORTHERNHIBBY
01-09-2017, 12:33 PM
We might need to sell a quarter of our ground at a knock down price if we knew any takers.

Kato
01-09-2017, 12:41 PM
Don't worry, Hibbys. I've secretly been selling pegs for years in case this happens. Cakes!?!?! That's for Jambos.

Geo_1875
01-09-2017, 12:47 PM
I'll start worrying when our CEO announces that we are completely self-sufficient.

Keith_M
01-09-2017, 12:53 PM
surely this can't be true

https://uploads.tapatalk-cdn.com/20170901/67f59f41614f3e1e632c368ce0edd53a.png

[emoji850]




fake news!!!!!

SirDavidsNapper
01-09-2017, 01:24 PM
Surely this can't be true

https://uploads.tapatalk-cdn.com/20170901/67f59f41614f3e1e632c368ce0edd53a.png

[emoji850]


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Just papering over the cracks

Callyballybe
01-09-2017, 01:27 PM
****** me I'm glad I'm not a yam. What a horrible existence it would be...

Keith_M
01-09-2017, 02:00 PM
I heard we're so desperate for cash we're selling three game ticket packages for only 40 quid and Season Ticket Holders can bring their mates along for only 15 quid a time.

Nicho87
01-09-2017, 02:04 PM
They're the vastly experienced club when it comes to administration. Maybe we are seeking their advice.

MB62
01-09-2017, 02:11 PM
Surely this can't be true

https://uploads.tapatalk-cdn.com/20170901/67f59f41614f3e1e632c368ce0edd53a.png

[emoji850]


Sent from my iPhone using Tapatalk

Forever the wee team Leeann. Our Windows are nowhere near as good as those on the new Yam (still to be completed) stand.

Bostonhibby
01-09-2017, 02:26 PM
I heard we're so desperate for cash we're selling three game ticket packages for only 40 quid and Season Ticket Holders can bring their mates along for only 15 quid a time.If we gave everyone that signed up to this a plastic owl I reckon that would clinch it. Could sit them in any empty seats and claim a sell out.

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Iain G
01-09-2017, 02:38 PM
Our only hope is to get relegated as soon as we can as we can't afford to be in the big league and pay big league players their wages! Will be glad when we get back to our level and not entertain these ideas of being above our station and get back to signing big lumping cloggers from the likes of Raith Rovers and back to a place where every key member of staff has at least two jobs (this saves on wages and halves the number of seats we need to own!) as that is our position in life and I honestly don't know what we were thinking...never mind putting actual seats in our stadium, maybe we could sell these to the Hearts to help cut our huge overheads and Ian Black could paint them pink at the weekends for them?

NZ Green
01-09-2017, 02:45 PM
Those in glass stadiums shouldn't throw stones.

Tornadoes70
01-09-2017, 02:55 PM
Those in glass stadiums shouldn't throw stones.

:faf:

Especially those made with sleek glass.

:giruy2:

tynehibs
01-09-2017, 03:42 PM
Can we not start signing players out with our budget and stop paying the present staff would that transform us into a big team ?

lord bunberry
01-09-2017, 03:55 PM
Surely this can't be true

https://uploads.tapatalk-cdn.com/20170901/67f59f41614f3e1e632c368ce0edd53a.png

[emoji850]


Sent from my iPhone using Tapatalk
She's lying, we're ****ed. The financial experts over the road have spoken.
My life is going to be so empty without the club I love.:cb

Hibs1969
01-09-2017, 05:48 PM
Clearly only one thing can save us from the impending threat of administration...............Chips

Eyrie
01-09-2017, 06:06 PM
Maybe we could persuade a football legend with links to our club like Ryan McGivern to accept an all-expenses paid trip to Edinburgh so he can host a fundraiser?

Waxy
01-09-2017, 06:19 PM
Those in glass stadiums shouldn't throw stones.
Weirdly it'll look like the biggest GREENhouse in Edinburgh. Well maybe in the top ten after the omni centre.

Bostonhibby
01-09-2017, 06:19 PM
Maybe we could persuade a football legend with links to our club like Ryan McGivern to accept an all-expenses paid trip to Edinburgh so he can host a fundraiser?It's one step away from exploiting a challenged individual by selling them a plastic owl for £4000 but needs must.

Maybe we could make a complete laughing stock of ourselves by getting a green plastic coo and inviting simple fans to stuff their loose change into it so we can finance a major construction project.

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andybev1
01-09-2017, 06:25 PM
breaking news......apparently.


After the most expensive transfer window in history, we have now seen massive signings from all of the clubs down south and abroad but not in Scotland, apart from maybe Celtic.....what is happening? we are fast becoming a laughing stock!

It is just as well that Hearts, that grand old (smelly) lady of scottish football, may be able to save our collective red faces.....
After a last-minute whip round, in the pubs around gorgie, the club are now in a position to buy the biggest Transfer window in world football to be the centre-piece to their new 'glass curtain' stand.

Hibs are said to be furious....ly pi&*ng themselves.:yw:

Tinribs
01-09-2017, 08:32 PM
I watched a couple of episodes of that pottery show a few months ago, pretty sure I could "throw" a Hibs cash cow together...🐄

mca
01-09-2017, 08:37 PM
Happy to Send Some Cakes...

:thumbsup:

Callyballybe
02-09-2017, 11:21 AM
Those in glass stadiums shouldn't throw stones.

😂😂

Iain G
02-09-2017, 04:19 PM
I watched a couple of episodes of that pottery show a few months ago, pretty sure I could "throw" a Hibs cash cow together...🐄

Is that the Harry Pottery programme where they show you how to make your own seats out of clay? 😀

emerald green
02-09-2017, 05:38 PM
It is quite simple...they remain hugely embarrassed by the outrageous cheating and debt that took them in to administration , and they dream that something will happen like that to us..to help them feel a bit better

:agree: Also, if the Lithuanian authorities had not agreed a CVA with UKIO Bankas who owned 29% of the club, and held security over Tynecastle, HoMFC would have suffered the same fate and humiliation which Rangers, Gretna and Airdrie all suffered.

Something else they would rather not talk about.

Bostonhibby
02-09-2017, 06:10 PM
:agree: Also, if the Lithuanian authorities had not agreed a CVA with UKIO Bankas who owned 29% of the club, and held security over Tynecastle, HoMFC would have suffered the same fate and humiliation which Rangers, Gretna and Airdrie all suffered.

Something else they would rather not talk about.Any ideas about why the authorities chose to go down the path they did? I'd have gambled on the asset being worth more as affordable housing or commercial development or something like that.

Jeez, could have knocked the whole thing down and built a decent 4 sided football stadium along the lines of St Mirren for about £10m and sold it to foundation of flumps, albeit the pitch will never ever be as big as the buddies or eufa compliant.

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emerald green
02-09-2017, 06:38 PM
Any ideas about why the authorities chose to go down the path they did? I'd have gambled on the asset being worth more as affordable housing or commercial development or something like that.

Jeez, could have knocked the whole thing down and built a decent 4 sided football stadium along the lines of St Mirren for about £10m and sold it to foundation of flumps, albeit the pitch will never ever be as big as the buddies or eufa compliant.

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Your question in bold. That has always seemed strange to me. No doubt someone will come on here with the answer!

I really don't want to get into political stuff, but it is well known that Scotland's First Minister at the time - well known Jambo Alex Salmond - personally lobbied the Lithuanian authorities at the bequest of HoMFC's administrators. How relevant or effective this was, I've no idea.

Ultimately, it was Hearts largest creditor UKIO Bankas who agreed to sell their shares to Budge's Bidco for £2.5m. What their thinking was, again I don't know. HoMFC had gone into administration with debts of £30m.

All of the above was in the public domain of course.

Keith_M
02-09-2017, 06:40 PM
Any ideas about why the authorities chose to go down the path they did? I'd have gambled on the asset being worth more as affordable housing or commercial development or something like that.

Jeez, could have knocked the whole thing down and built a decent 4 sided football stadium along the lines of St Mirren for about £10m and sold it to foundation of flumps, albeit the pitch will never ever be as big as the buddies or eufa compliant.



It may be totally unconnected but Alex Salmond, Hearts Supporter and then First Minister, paid them a visit immediately before the decision was made.

Bostonhibby
02-09-2017, 06:46 PM
It may be totally unconnected but Alex Salmond, Hearts Supporter and then First Minister, paid them a visit immediately before the decision was made.I thought that may have been a factor [emoji6]

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Bostonhibby
02-09-2017, 06:48 PM
Your question in bold. That has always seemed strange to me. No doubt someone will come on here with the answer!

I really don't want to get into political stuff, but it is well known that Scotland's First Minister at the time - well known Jambo Alex Salmond - personally lobbied the Lithuanian authorities at the bequest of HoMFC's administrators. How relevant or effective this was, I've no idea.

Ultimately, it was Hearts largest creditor UKIO Bankas who agreed to sell their shares to Budge's Bidco for £2.5m. What their thinking was, again I don't know. HoMFC had gone into administration with debts of £30m.

All of the above was in the public domain of course.I thought the visit might not have been a coincidence. Scottish leaders visit Lithuania all the time.

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weecounty hibby
03-09-2017, 07:08 AM
This gets banded about all the time but there has never been a shred of proof about it. Salmond was/is one of the shrewdest politicians going about, there has never been any scandal from his private life on any level. He is a jambo but is hardly a ST holder who never misses a game but folk choose to believe that he persuaded the Lithuanian govt to write of millions of pounds. More likely that Vlad still had some away with officials both in Lithiania and in Russia and that was where the trading was done. My opinion obviously but I would like to see evidence of this deal before I change my mind

Peevemor
03-09-2017, 07:54 AM
Salmond probably did lobby the Lithuanians to influence their decision, something I think he'd have done had it been any Scottish club. As it turned out, £2.5m eventually made it's way back to Lithuania - I'm not sure it would have been much more had things been done differently.

Famousfivehh
03-09-2017, 08:27 AM
I'm going down the Co Op see if I can lift their charity box.

Jones28
03-09-2017, 08:29 AM
Ah yes, hence the desperate sale of our prize asset on a first come first serve basis...

Jones28
03-09-2017, 08:34 AM
I'm going down the Co Op see if I can lift their charity box.

Go to Waitrose, they'll have bigger boxes full eh fivers n tenners n that

CropleyWasGod
03-09-2017, 08:34 AM
Lest this becomes a Hibs.net fact, it wasn't the Lithuanian government that was persuaded to write off millions. It was the administrators of UBIG who were the key players. To what extent they were pressurised by others is unknown, but it was an understandable decision to accept the cash now rather than some unknown amount sometime in the future.

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weecounty hibby
03-09-2017, 09:07 AM
Lest this becomes a Hibs.net fact, it wasn't the Lithuanian government that was persuaded to write off millions. It was the administrators of UBIG who were the key players. To what extent they were pressurised by others is unknown, but it was an understandable decision to accept the cash now rather than some unknown amount sometime in the future.

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Why do you always come on these threads talking sense. We all know that Alex Salmond threatened to invade Lithuania if they didn't accept the Jambo terms.

Hibbyradge
03-09-2017, 09:12 AM
This gets banded about all the time but there has never been a shred of proof about it. Salmond was/is one of the shrewdest politicians going about, there has never been any scandal from his private life on any level. He is a jambo but is hardly a ST holder who never misses a game but folk choose to believe that he persuaded the Lithuanian govt to write of millions of pounds. More likely that Vlad still had some away with officials both in Lithiania and in Russia and that was where the trading was done. My opinion obviously but I would like to see evidence of this deal before I change my mind

I suppose it depends on your definition of "a shred". http://www.dailymail.co.uk/sport/football/article-2605868/Hearts-saved-liquidation-deal-struck-Edinburgh-businesswoman.html

Scotland's First Minister, Alex Salmond, had entered the increasingly-fraught fight to save the club.

The Hearts fan had spoken to Lithuanian politicians amid fresh delays in Vilnius.

Salmond’s dramatic late intervention was at the behest of Tynecastle administrator Bryan Jackson, of accountancy firm BDO, who was battling against the clock to seal a rescue deal.

Salmond said: 'At the bequest of the Hearts administrators, I phoned the Lithuanian ambassador to try and facilitate the important moves that are being made.
'I should say, I'm a Hearts supporter - I declare an interest - but I have made the same approaches when necessary with other football clubs in Scotland who have been similarly struggling.

'I would always do that as First Minister because it's part of the First Ministerial role to help Scottish Football and help Scottish clubs when you can, and I'm sure that everyone in Scottish football, whichever team they support, wants to see Hearts back fighting fit, and part of the firmament of our national game.
'They were helpful conversations and progress has been made. We're hoping that things will reach a successful conclusion.'



And something similar from The Scotsman. (http://www.scotsman.com/sport/football/teams/hearts/i-need-to-do-all-i-can-for-hearts-alex-salmond-1-3377777)

CropleyWasGod
03-09-2017, 09:21 AM
Why do you always come on these threads talking sense. We all know that Alex Salmond threatened to invade Lithuania if they didn't accept the Jambo terms.I'm a ****ing wow at parties.

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Sammy7nil
03-09-2017, 09:26 AM
I suppose it depends on your definition of "a shred". http://www.dailymail.co.uk/sport/football/article-2605868/Hearts-saved-liquidation-deal-struck-Edinburgh-businesswoman.html

Scotland's First Minister, Alex Salmond, had entered the increasingly-fraught fight to save the club.

The Hearts fan had spoken to Lithuanian politicians amid fresh delays in Vilnius.

Salmond’s dramatic late intervention was at the behest of Tynecastle administrator Bryan Jackson, of accountancy firm BDO, who was battling against the clock to seal a rescue deal.

Salmond said: 'At the bequest of the Hearts administrators, I phoned the Lithuanian ambassador to try and facilitate the important moves that are being made.
'I should say, I'm a Hearts supporter - I declare an interest - but I have made the same approaches when necessary with other football clubs in Scotland who have been similarly struggling.

'I would always do that as First Minister because it's part of the First Ministerial role to help Scottish Football and help Scottish clubs when you can, and I'm sure that everyone in Scottish football, whichever team they support, wants to see Hearts back fighting fit, and part of the firmament of our national game.
'They were helpful conversations and progress has been made. We're hoping that things will reach a successful conclusion.'



And something similar from The Scotsman. (http://www.scotsman.com/sport/football/teams/hearts/i-need-to-do-all-i-can-for-hearts-alex-salmond-1-3377777)

I wonder what the "same approaches" were?

Keith_M
03-09-2017, 09:34 AM
It may be totally unconnected but Alex Salmond, Hearts Supporter and then First Minister, paid them a visit immediately before the decision was made.


I would like to point out that I did write that it may be unconnected...





Not that I believe that but there is still a slim possibility.

:wink:

weecounty hibby
03-09-2017, 10:57 AM
I suppose it depends on your definition of "a shred". http://www.dailymail.co.uk/sport/football/article-2605868/Hearts-saved-liquidation-deal-struck-Edinburgh-businesswoman.html

Scotland's First Minister, Alex Salmond, had entered the increasingly-fraught fight to save the club.

The Hearts fan had spoken to Lithuanian politicians amid fresh delays in Vilnius.

Salmond’s dramatic late intervention was at the behest of Tynecastle administrator Bryan Jackson, of accountancy firm BDO, who was battling against the clock to seal a rescue deal.

Salmond said: 'At the bequest of the Hearts administrators, I phoned the Lithuanian ambassador to try and facilitate the important moves that are being made.
'I should say, I'm a Hearts supporter - I declare an interest - but I have made the same approaches when necessary with other football clubs in Scotland who have been similarly struggling.

'I would always do that as First Minister because it's part of the First Ministerial role to help Scottish Football and help Scottish clubs when you can, and I'm sure that everyone in Scottish football, whichever team they support, wants to see Hearts back fighting fit, and part of the firmament of our national game.
'They were helpful conversations and progress has been made. We're hoping that things will reach a successful conclusion.'



And something similar from The Scotsman. (http://www.scotsman.com/sport/football/teams/hearts/i-need-to-do-all-i-can-for-hearts-alex-salmond-1-3377777)
I knew all that and it is in the public domain as told by Salmond himself. The insinuation by a lot of folk is that he did something underhand. I don't believe he did and as he says he did similar with other clubs. Probably Motherwell, Dundee, Airdrie and der Hun.

Keith_M
03-09-2017, 11:07 AM
I wonder what the "same approaches" were?


He went to all the other Administrators as well and asked them, for the sake of future relations between the two countries, if they would agree to a payment of zero pence in the pound for the debt owed, ignore the money that was ripped of from Pensioners and ordinary Bank Account holders and sell the shares in the club for a pittance, despite the land owned by the club being suitable for re-sale and a potentially much larger debt repayment.


Nothing underhand about that at all, as he did is so even handedly with each club.

greenlex
03-09-2017, 12:14 PM
This gets banded about all the time but there has never been a shred of proof about it. Salmond was/is one of the shrewdest politicians going about, there has never been any scandal from his private life on any level. He is a jambo but is hardly a ST holder who never misses a game but folk choose to believe that he persuaded the Lithuanian govt to write of millions of pounds. More likely that Vlad still had some away with officials both in Lithiania and in Russia and that was where the trading was done. My opinion obviously but I would like to see evidence of this deal before I change my mind
Even if he did persuade them it's not exactly a crime. First minister uses position to help Scottish company. Doing his job to be fair.

Sammy7nil
03-09-2017, 12:21 PM
Even if he did persuade them it's not exactly a crime. First minister uses position to help Scottish company. Doing his job to be fair.

Yip I agree so long as they intervene for every scottish company. I doubt the FM does.

GreenOnions
03-09-2017, 12:26 PM
I've never liked Alex Salmond. He also looks like a stereotypical Hearts supporter - bewilderingly smug.

hibees 7062
03-09-2017, 12:32 PM
I've never liked Alex Salmond. He also looks like a stereotypical Hearts supporter - bewilderingly smug.

Pwick of a man

snooky
03-09-2017, 12:49 PM
Pwick of a man

Straight out of the "Jonathan Ross Famous Quotes" annual

heidtheba
03-09-2017, 01:20 PM
"I'm sure that everyone in Scottish football, whichever team they support, wants to see Hearts back fighting fit"

Aye, finger on the pulse there Mr Salmond.

CropleyWasGod
03-09-2017, 01:22 PM
Yip I agree so long as they intervene for every scottish company. I doubt the FM does.He intervened at the request of the administrator, not of his own volition. If the admin of another club asked for his help, it would be his job to accede.

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Bostonhibby
03-09-2017, 02:21 PM
I wouldn't ordinarily expect any government minister from any part of the UK to intervene on behalf of a foreign owned privately held business where relatively few jobs are involved. UK businesses of this size go to the wall frequently with barely a whimper from the political classes, market forces, paying your way, living within your means, trade legally and all that.

Just saying like.

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Just Alf
03-09-2017, 03:00 PM
I wouldn't ordinarily expect any government minister from any part of the UK to intervene on behalf of a foreign owned privately held business where relatively few jobs are involved. UK businesses of this size go to the wall frequently with barely a whimper from the political classes, market forces, paying your way, living within your means, trade legally and all that.

Just saying like.

Sent from my SM-J320FN using TapatalkI think folks are making Salmond's "intervention" a much bigger thing than it actually is. I know what you're saying but while the company was small in terms of size it was/is big in terms of public prominence so it's easy to see why politicians, when asked, get involved... Heck.. They get involved with the closure of a telephone box!

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jonty
03-09-2017, 03:01 PM
I'm a ****ing wow at parties.

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I can vouch for this.
After 30 minutes he's sitting on his own. Cropley-nae-mates. :greengrin

Bostonhibby
03-09-2017, 03:10 PM
I think folks are making Salmond's "intervention" a much bigger thing than it actually is. I know what you're saying but while the company was small in terms of size it was/is big in terms of public prominence so it's easy to see why politicians, when asked, get involved... Heck.. They get involved with the closure of a telephone box!

Sent from my SM-G925F using TapatalkThey're like moths to a candle if there's a vote or a bit of reflected glory or self interest ..................

A busted small insolvent UK business is just that, normally barely a flicker.

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CropleyWasGod
03-09-2017, 05:56 PM
I can vouch for this.
After 30 minutes he's sitting on his own. Cropley-nae-mates. :greengrinMince of course. I wouldn't be seen dead at a party I'd been invited to.......

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Eyrie
03-09-2017, 06:57 PM
Mince of course. I wouldn't be seen dead at a party I'd been invited to.......

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Groucho Marx?

Criswell
03-09-2017, 10:56 PM
I am just thankful that we have never needed special pleading from our First Minister to a foreign govt to help get us out of a monumental financial hole, and that we have never experienced the humiliation of administration.

jgl07
03-09-2017, 11:06 PM
Even if he did persuade them it's not exactly a crime. First minister uses position to help Scottish company.
What about the Scottish companies and individuals fleeced by Hearts and Rangers?

When Alex was First Minister, him and his retinue were regulars at Howies on Waterloo Place.

My daughter worked there at the time and Alex would usually ask for the receipt to be presented without wine and beer being itemised.

She quite liked Alex nonetheless.

FilipinoHibs
04-09-2017, 04:30 AM
Lest this becomes a Hibs.net fact, it wasn't the Lithuanian government that was persuaded to write off millions. It was the administrators of UBIG who were the key players. To what extent they were pressurised by others is unknown, but it was an understandable decision to accept the cash now rather than some unknown amount sometime in the future.

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Yes it was clear the Edinburgh establishment would block building on Tynecastle apart from the shambolic stand. Not the administrators who accepted the cash offer. They needed creditors to accept.

FilipinoHibs
04-09-2017, 04:38 AM
Even if he did persuade them it's not exactly a crime. First minister uses position to help Scottish company. Doing his job to be fair.

The adminstrators were still open to fresh offers right up to the last minute as one of posters on here proved. It was clear only going to be sold as a football club. That is why only FOH and Budge only buyers. Nobody would get planning permission for houses or supermarket. Old edinburgh establushment closed ranks. No bankruptcy and other buyers.

The Leith Dutch
04-09-2017, 06:48 AM
I wouldn't ordinarily expect any government minister from any part of the UK to intervene on behalf of a foreign owned privately held business where relatively few jobs are involved. UK businesses of this size go to the wall frequently with barely a whimper from the political classes, market forces, paying your way, living within your means, trade legally and all that.

Just saying like.

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To be fair Football Clubs are not treated like (or run like) regular businesses no matter how much people wish they were or think they should be and no matter how much they are increasingly purely about money. Having lost out to the hun (both big and wee versions) as they spent money they didn't have sticks in the throat but nonetheless football clubs will be treated differently.

Politicians on many sides intervene on their behalf (whether fans or not).
You can argue that's them representing a community institution or you can argue it's a cheap and cynical attempt to look good to the voters.

Iain G
04-09-2017, 07:30 AM
Getting this thread back on topic...

We should organise a peg-a-thon amongst the support to see how many pegs we can all make and get a stall at the next dockside market to sell them with all proceeds to go to the Rod Petrie moustache wax fund.

Have managed to make 3 pegs over the weekend to get us started...

Bostonhibby
04-09-2017, 08:15 AM
To be fair Football Clubs are not treated like (or run like) regular businesses no matter how much people wish they were or think they should be and no matter how much they are increasingly purely about money. Having lost out to the hun (both big and wee versions) as they spent money they didn't have sticks in the throat but nonetheless football clubs will be treated differently.

Politicians on many sides intervene on their behalf (whether fans or not).
You can argue that's them representing a community institution or you can argue it's a cheap and cynical attempt to look good to the voters.

Can't argue with any of that but wouldn't mind seeing the minutes of their meetings though, in the interests of open and honest politics obviously:wink: