I was thinking along similar lines, surely if the Foundation of Fuds has to prop up the administration BDO cant see it as a going concern...legally, financially?Quote:
Originally Posted by HFCDaveA
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I was thinking along similar lines, surely if the Foundation of Fuds has to prop up the administration BDO cant see it as a going concern...legally, financially?Quote:
Originally Posted by HFCDaveA
If foh and it's members agreed to it, this would be a legitimate source of income....for as long as it lasted.Quote:
Originally Posted by EuanH78
Can't see why they wouldn't tbh...they bent over and took it up the jacksy when the 'share' money was diverted from Youth Development to paying the tax man
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Originally Posted by lapsedhibee
:agree:
What a fuds of bunchQuote:
Originally Posted by Just Alf
If BDO use the fans funds to keep the club going, and they don't manage to get their hands on the shares then the **** will hit the fan, big time.Quote:
Originally Posted by Jack Hackett
See my added comment above :greengrinQuote:
Originally Posted by Onion
The fuds are masochists
This sounds like a script from 'The Producers'!Quote:
Originally Posted by robinp
How to make money out of a flop? Oversubscribe!
"Springtime for Vladimir Romanov......."
:greengrin.....It scans as wellQuote:
Originally Posted by jgl07
We are told that BDO's job is to keep the club trading as a going concern but we all know they will accept handouts from FOH rather than liquidating the club in 8 weeks. If that happens will the club be a going concern? No it will be relying on others as it has done for over 25 years. The true legal administration process doesn't apply to hearts and didn't to rangers.
Sadly I think that they are so vacant that they will just accept it blindly like all the previous waste products that have hit their fans!Quote:
Originally Posted by Onion
It's all about scale, the bigger the club the bigger the total percentage of shares they have. :agree:Quote:
Originally Posted by robinp
Yes it will be.Quote:
Originally Posted by Fat Penlon
Going concern is defined as the ability of a company to continue to operate for the foreseeable future. If that ability is based on the donations of supporters, then so be it.
Would that income be liable to tax?Quote:
Originally Posted by CropleyWasGod
Possibly.Quote:
Originally Posted by Geo_1875
From HMRC's own manual:-
if the character in the recipient's hands is that of a payment made in order that the money may be used in the recipient's business, to supplement trading or other business receipts and to enable the recipient to carry on business, or otherwise to preserve and maintain trading stability and solvency, then it will be a taxable trading receipt (Smart v Lincolnshire Sugar Co Ltd [1937] 20TC643 at 670; British Commonwealth International Newsfilm Agency Ltd v Mahany [1962] 40TC550 at 578 and 582)
You know more about this than me CWG so fair enough if that's how it works it just doesn't make much sense to me. I suppose all football clubs rely on fans putting money in its just 99% of clubs normally only expect a fan to buy a season ticket and the odd bit merchandise where as using the model BDO are working to FOH will need much more than the norm from the fans to keep the club going. Hearts as a fan owned club dependant on DD's and unable to obtain credit will never be able to live out with their means again. #pleasing #strugglingQuote:
Originally Posted by CropleyWasGod
Oh it's a crap business model for the future, totally agree with you there. But in the short-term, it would probably work for them.Quote:
Originally Posted by Fat Penlon
:singing: Winter for all the sad Yams.....:singing:Quote:
Originally Posted by jgl07
Remember the Gretna precedent.
If the Yams run out of money at the end of March (as Jackson maintains) and they have to be liquidated, then the SPFL will have a major headache as all results involving the Yams will need to be cancelled. It would also hurt the other clubs in the bottom six as three would lose a home game after the split.
So expect the SPFL to cite Gretna and advance the Yams the prize money for finishing bottom so that they can complete their fixtures this season. Once the season is over then the SPFL won't care if they get liquidated and will have planned for a replacement team if that does happen (probably the winner of the Lowland League).
Bonds. Bonds so that teams last the season. Lessons not learned eh?!
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Originally Posted by Eyrie
I think they would just expunge all fixtures involving them, and have a free weekend for the other teams in the league where the subsequent fixtures would have been. Which would leave time to reflect. And chortle.Quote:
Originally Posted by VivaPalmeiras
We're now 75% certain that Amanda Knox will be exonerated, its just the small formalities of the Italian legal process to go through...Quote:
Originally Posted by Geo_1875
Not to mention the 75% certainty of the 'Yes' vote. All we need now is the actual vote. #RubberStampedQuote:
Originally Posted by Dashing Bob S
Yeah. Apparently Silvio Berlusconi says it will all be fine if Amanda re-enacts the so-called sex-game. With him.Quote:
Originally Posted by Dashing Bob S
That might be a dodgy precedent if Gary Locke wants to go down the same route.
The Gretna situation was different in that the man who was supplying them with the funds to keep them going took gravely ill suddenly and as such the cash-flow stopped towards the end of the season. Hearts have been in this situation since before the start of the season.Quote:
Originally Posted by Eyrie
Time travelling, human-hunting death droids ken whit's goan on.... What are they trying to tell us???
http://www.dvdbeaver.com/film2/DVDRe...ricallarge.jpg
Having read through today's posts, there are a couple of things that have struck me as obvious but are being ignored.
FOH don't have to give BDO any money, they simply have to give the go ahead for BDO to start selling season tickets. FOH didn't want this but as has been pointed out earlier, they have been collecting DD money for months and have around £800K in the bank. Remember that any cash BDO doesn't spend will still be there when FOH take over.
Indeed, if BDO said that they are going to charge Premiership prices next season for the season tickets - with the promise of reducing them the following season (and the first season they are back in the top flight) - then I'm sure the jumbos would go for it. If they say it is necessary to save the club then it may even result in the same season ticket response they got last year and we would have to put up with massaged attendance figures for the championship. The yams would see that as a win win ffs.
Also, a lot of chat about not being able to borrow in the future. While the banks may not give them any cash, they have already found a few Biddies to lend them money. These Biddies, or others, may decide to lend them cash - in much the same way STF does for us.
Hopefully, the exit from admin is slow and we at least get to see them with a second points deduction to almost guarantee a two year spell down there.
But the talk in the summer was that they could run out of money by Christmas, yet the SPFL let the Yams start the season so that isn't a factor.Quote:
Originally Posted by Bajillions
Gretna then went into liquidation when the season was over so the SPL was simply delaying the inevitable. Depending on events in Lithuania, the Yams could go down the same route or survive. The SPFL is most likely to advance them the prize money to avoid fixture chaos and help them make it to the end of the season. That gives another six weeks or so to see whether the shares remain frozen.
Theres no promotion from the lowland league. Also when there is they would need to play the highland league winner for that place.Quote:
Originally Posted by Eyrie
I'd forgotten about the Highland League, but the playoff for promotion can simply be brought forward a season to fill the gap in Division 2 caused by the trickle down effect of a liquidated Yams leaving a vacancy in the Championship.Quote:
Originally Posted by SMAXXA
I doubt that they'll be liquidated though - as has been pointed out the Save Hearts In Trouble DDs will be used to keep them alive. How many deluded roasters will ask for their money back if it means putting their club out of business?
Umbrellas all round! From Foxy Knoxy to Golden Gazza!Quote:
Originally Posted by CropleyWasGod