UBIG assets are frozen in order to stop Vlad pulling a fast one.Quote:
Originally Posted by lapsedhibee
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UBIG assets are frozen in order to stop Vlad pulling a fast one.Quote:
Originally Posted by lapsedhibee
:top marksThe media repeatedly gives 0 mention of this. There are many many hurdles in place for a buyout of Hearts that were not present in the Sevco saga. The big differences are the secured debt, frozen assets and that the Seller, Buyer and Administrator are highly unlikely to be working in cahoots.Quote:
Originally Posted by hibs0666
So my Flats or Houses bid is devalued with just have to disguise it as Fans Of Hearts and see how much I can raiseQuote:
Originally Posted by gogsy23
I don't think the loan moves were done for that purpose, but it does look like the UBIG loan is unsecured now. I think the intention behind the debt shifting was to artificially prop up Ukio's balance sheet in a last-ditch effort to postpone the inevitable insolvency until an escape plan could be formulated. That escape plan appears to have involved HoMFC remaining solvent - again by artificial means. In truth, I think they've made an almighty mess of the whole thing.Quote:
Originally Posted by grunt
One way they could conceivably exit administration is if a new buyer paid sufficient money into the administration fund to make a CVA acceptable to UBIG's administrator. That wouldn't clear the Ukio debt though and the new buyer could still be left with the problem of finding £15m in two years unless they could also buy the security from Ukio's administrator.Quote:
Originally Posted by CropleyWasGod
Not cheap, not what any of the prospective buyers claim to want and HoMFC would still suffer at least one points penalty, but it could happen.
They would be a creditor in a CVA only to the extent of the unsecured part of the debt, though. Given that the major asset would be the subject of their security, I doubt that a CVA would have any merit. Unless the sale of Tynie provided a larger sum than the £10m security, there would next to nothing available for the CVA.Quote:
Originally Posted by desantos0773
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Originally Posted by lapsedhibee
What have the whisky people got to do with all this?!?
Would it be inhaling a toxic combination of asbestos and whisky fumes that makes yams beLIEve so easily? :dunno:Quote:
Originally Posted by clerriehibs
so they really did just lend it to themselves, and it wasn't a problem.Quote:
Originally Posted by grunt
Just a problem for the other ukio/ubig creditors, of course.
I'd love to see/hear the spl spin on this if it comes to fruition.
Given there are likely to be criminal proceedings and jail sentences I doubt there will be anyone even answering the phone in Lith to Fredo who might be in a position to help hahahearts.Quote:
Originally Posted by Spike Mandela
Would all of this explain in part why hahahearts have continued to pay HMRC thus ensuring that HMRC are not in a position to block a CVA? It just seems that there has been a great deal of juggling with debt for no obvious reason except perhaps removing the impact that HMRC policy might have on an administration bid.Quote:
Originally Posted by CropleyWasGod
Are they still here ?
If they are, no one cares! We have a final to concern ourselves with!Quote:
Originally Posted by happyhibbie
True ..but Im no concerned ..:aok:Quote:
Originally Posted by Curly1875
May as well get this back on the first page. Got to take my mind off today's hoofball with this summers comedy extravaganza.
Are they deid yet?
ggtth
Sorry for the thread hijack but need to pick you up on this point, yesterday wasn't hoofball, it was dissapointing result but if anything we were too tippy tappy and slow in midfield.Quote:
Originally Posted by CyberSauzee
Anyway, back on topic, **** the hearts
The one true anaesthetic to yesterday's defeat is returning to this thread and the sorry state this bunch of mugs find themselves in:greengrin
Bloke on Kickback claiming they have informed the SPL that they may be moving out of Tynecastle next season.
More of this type of news will help take away the disappointment of yesterday.
Hearts announce Danny Wilson has signed a permanent deal.
Goodwillie & Boyd next??
http://www.heartsfc.co.uk/articles/2...241384_3192360
It really does seem like AllisBarry, and we are the deluded ones... :rolleyes:Quote:
Originally Posted by YehButNo But
So is he still under contract with Liverpool! :confused:
"Danny, who spent the second half of last season on loan at Tynecastle, has agreed to sign a three year deal upon expiration of his current contract at Liverpool".
Amazing how they continue to do this without even having a pot to pee in, this kind of arrogance does my box in and if the SFA don't look in to why they can't pay back (and never will) the zillions they owe then why are they allowed to sign players (even if players have left)Quote:
Originally Posted by YehButNo But
I think it's about time we started cheating like this as it's clear nothing will get done about it. :rolleyes:
He'll be under contract until for the next couple of weeks so can't officially sign for hearts just now.Quote:
Originally Posted by LeithenHibby
I'm really not fussed by this news, if they want to ***** a fair whack of there budget on a pretty average defender then that's up to them.
Also worth remembering Rangers before tehy folded tried to sign daniel cousin in the days before administration.
At the agm last week they were pretty open about the fact they'll likely start next season -15 points.Quote:
Originally Posted by HIBERNIAN-0762
Quote:
Originally Posted by bingo70
:agree: It's not a done deal yet!....... ST sales pitch methinks :aok:
This is the sickbag rumour quote mentioned above. The poster claims he got the following from among the suits at Hampden yesterday. First part sounds fairly plausible and second part top notch but perhaps a bit over hopeful. Suspect it would be a worst case scenario if the Lithquidators play proper hardball. :wink:
Bit in bold, they really, really just don't get it do they? I've not murdered anyone for over a year, how can you punish me? :rolleyes:Quote:
Originally Posted by RussianHats on sickbag
So if Wilson has signed for HoMFC I assume the SPL have opened the transfer window early?
It really is something that the SPL need to look at, HoMFC have already admitted they don't have enough money to see out the season. They are hoping that they can raise £1.5m from a fan membership scheme and £1m from player sales throughout the season. Their audited accounts state "These conditions, along with the uncertainties in the cash flow projections explained in note 1 to the financial statements, indicate the existence of a material uncertainty which may cast significant doubt about the company's ability to continue as a going concern." This isn't a club taking finance out for expansion or using an arranged overdraft/loan/funding to speculate on a player or two, this is a club which is crossing its fingers and hoping for the best. Some of the clubs in the SPL have smaller total wage budgets than HoMFC are looking at fleecing their fans for again.
I don't know if the SPL have any regulations on clubs providing assurance that they can fulfil their fixtures, but if they don't then they should IMHO.
I was speaking to a Hearts fan the other day who told me that they were still due money for Templeton and McGowan as part of the transfers. This is where a large chunk of the £1m transfer fee expectation comes from. Is this true as I thought that they had received all their fees for those two?
Hearts have signed a new player - what exactly is difficult to understand about this?
Don't think anyone finds it difficult to understand just odd that a club which admits it cannot see out the season without a cash injection is going around, and allowed under SPL rules, to sign players. I suspect that come the middle of the season they will do what Dunfermline did when they signed Brewster, Crawford, Kozma etc and announce half way through the season that they can't afford the players and they (the players) will have to take a massive wage cut.Quote:
Originally Posted by Tyler Durden
It's very plausible.Quote:
Originally Posted by JeMeSouviens
In June they have interest payments and HMRC payments due of around £135k, with a wage bill of around £500k to meet, based on the £6m annual wage bill mentioned (I think) at the time of the share issue.
In July, they have interest payments and HMRC payments due of around £135k, with a wage bill of around £290k to meet, based on the £3.5m annual wage bill mentioned (I think) by Robbo at the time of the share issue.
This means that in these two months where there is no real income* other than season ticket sales they have a to pay out nearly £1.1m. They needed £1.8m to see out this season just finished but only raised £1.5m, meaning that they will have used £300k of the 13/14 season ticket income (assuming they hadn't already budgeted to use that) to get them to the end of May. They claim to have sold 6k season tickets for next season which will be around £1.4m income (assuming they have similar average prices to Hibs @ £12 per game) so they'll have used virtually all the season ticket money by the end of July, 1 month into the new season.
* There will be some income from friendly matches and merchandise sales (new kit) but I would imagine that friendlies struggle to break even with policing and stewarding costs taken into account and the money they will make from replica kit sales is minimal.
They are clinging on in the desperate hope that someone will buy them ... and ****ing sharpish!Quote:
Originally Posted by PatHead
Even if they did, are any prospective buyers really going to have the sort of funds available to make up the shortfall from spending next year's ST money already? :wink:
They will get some prize money (no s******ing at the back!) from their plucky 10th place finish (c £300K I think) and if they limp on until September they'll get the upfront SPL distribution (c £600K). I think you might be slightly overestimating their wage bill since several high earners are already released and they probably won't bring the new faces on board until very close to the new season start. On the other hand, I think it's pretty likely that most of the ST money they've already taken in has already been spent.Quote:
Originally Posted by Sergio sledge
It will be interesting to see how the Muppets react if they actually do try to launch their membership scheme. :greengrin
Is there a sponsor for the SPL in place or have I mixed it up with something else?Quote:
Originally Posted by JeMeSouviens
I understand that they are signing Wilson as he has a large back garden. They can use his shed for the changing rooms and he has a nice patio that will easily accommodate the last remaining 15 yams. Mrs Wilson has offered to sell teas from out of the kitchen window.
spot on.Quote:
Originally Posted by HIBERNIAN-0762
seems our footballing authorities will bend over backwards to try to save hearts. Every obstacle is overcome with their help and guidance.
I can't think of a single time when a company was in such a hideously dire position but still contiues to trade without a care.
I can't ever see them going under.
No surprise the timing of this a day after we lost in the final. So he has a current contract at Liverpool which will likely run out at the end of the month. There will be loads of caveats that Wilson's advisors will have written in. Lets see how it goes and if he actually plays there.Quote:
Originally Posted by LeithenHibby
Not yet. I imagine they're waiting for the "SPFL" rebrand.Quote:
Originally Posted by PatHead
Really got to laugh at them on other newspaper forums spouting they will be in the top 4 next season, no problem :hilarious and we will be ones relegated.
You got to give them credit for brightening up our Monday :aok:
Giving them credit is the last thing anyone should do :greengrinQuote:
Originally Posted by HIBERNIAN-0762
Just spat oot ma tea lolololololQuote:
Originally Posted by Seveno
a wee bit early to be having your tea?Quote:
Originally Posted by Seven up
According to rumours on Facebook, they are very close to signing kris boyd too...beggars belief it really does!!
If rumours like that are true (and if they're still alive in six months), these players aren't going to be paid when we get into October/November and the cash-flow sh** hits the fan. No hobonomics here... just facts.Quote:
Originally Posted by Borderhibbie76
Where is that future wage money going to come from? It's not. They're just digging themselves an even bigger hole.
Quote:
Originally Posted by Borderhibbie76
And as it stands, they haven't signed anyone at this time!
It's all part of their ST sales plan :wink: Chill.
GGTTH
They have a deluded support that had convinced themselves this is the sort of player they need to go for, and the club needs them to buy season tickets and 'donate' another £1.5million on top of that.Quote:
Originally Posted by makaveli_619
I'd expect a couple of token 'big names' (who have few, if any other options) to join over the summer in an effort to convince the puddle drinkers to hand over their cash. If they went with a squad they could afford more realistically, the fans would keep their cash and they'd die anyway. One last attempt at 'speculating to accumulate' for them before they die.
Let them have Boyd if they want, he's done f all at Killie and will just be another drain on their dwindling bank balance.
"I believe the club has a bright future with a lot of good young players." - Danny Wilson on signing for Hearts.
:shocked::shocked::shocked::shocked::shocked:
I have absolutely no sympathy for any player that signs for the manky mob and then three months later they fail to get paid or they go bust. They can access the same info we can and can see what a shower the jambos are and how close to going down the pan, so they have no excuses and can have no moans when it goes mammaries aloft.
Their agents should be run out of town for giving them such bad advice though.
Hey! I finally hit 1000 posts! I've been on Hibs.net since practically the beginning so it's taken me a looooooong time to get there. Some guys are up to 30,000 posts by now.Quote:
Originally Posted by blindsummit
Some of us do post a lot of ***** though. I reckon I have made about 6 decent posts. :greengrinQuote:
Originally Posted by blindsummit
Ah the mythical great youngsters of hearts that we keep hearing about but don't ever actually see. Next season will be interesting if they get their 15 point deduction cos they're pish.Quote:
Originally Posted by essexhibee
Its getting silly now. They can't pay their players on time, they have stated they are unable to pay their debts, they have pumped the ordinary Lith for £70m, they have only recently stiffed the ordinary (?) Yam for £1m+, they have been caught out perpetuating a tax dodge are are having to repay the money in stages because they cant afford it, they are actually planning to enter administration when it suits them, they openly admit they do not have enough funds to see out the season. So why the **** are they allowed to continue signing players?
Now they're taking the p1$$.
Exactly. So much for this "golden generation" the same generation who we beat with a younger side on their own patch.Quote:
Originally Posted by #FromTheCapital
You're far too good to yourself :wink:Quote:
Originally Posted by marinello59
So much for their claims that we're obsessed with them. On SCF day, there were FOUR posts on this thread; and these were just throw-away remarks. Tell that to any yams coming away with any such claims.
:kettle::greengrinQuote:
Originally Posted by TQM
Spot on, they demoted Dunfermline for just having a £150k debt (and this paid by the way but too late) and they got an instant points deduction yet this stinking mire are zillions in debt all over the place yet they are allowed to sign players? where's the justice here.Quote:
Originally Posted by Kaiser1962
Unbelievable :confused:
Generous. :wink:Quote:
Originally Posted by marinello59
Quote:
Originally Posted by JeMeSouviens
Sickbag story consistent with stories that Hearts in discussion with council on finding somewhere else to play and administrators going to show no mercy given the fact that Hearts have blown nearly £70 million of the Lithuanian people's money.
Part two is consistent with all the analysis here on their cash flows. I can see 15 points being deducted for UBIG going insolvent and then another 15 docked when Hearts go into administration to stop HMRC winding them up.
Just how bad is Danny Wilson if he's agreeing to sign for Yams before he's even out of contract!! If he thinks Yams is best offer he'll get then either he's awful/deluded or he has a get out clause which may see him picking up 2 signing on fees in a short space of time.
Don't think they can be deducted the points twice, would be hilarious if they could but don't think that would happen.Quote:
Originally Posted by desantos0773
Quote:
Originally Posted by desantos0773
But the full knowledge that the SPL has on the ground move and their insolvency given the Hearts request for a cash advance shows that last Monday's meeting was never going to relegate them so desperate are they to keep Hearts in The SPL. But SPl are going to end up with egg on there face when one of their clubs has to leave their ground and have double penalty points applied with the SPL having full knowledge of their complete and utter bankruptcy.
Don't know who you have been talking to (smartly dressed well known character in Glasgow perchance?) but that is *exactly* the information I have.Quote:
Originally Posted by brog
Agents are smelling blood at Tynecastle - they are fxxxed AND they have a PR mountain to climb.
Or as football agents call it, the Perfect Storm. Clients being advised "sign for Hearts but make sure you've got the Lith Admin release clause"
Quote:
Originally Posted by bingo70
I am hopeful!
"They" (whoever they are) didn't demote Dunfermline for having a £150k debt. Dunfermline went into administration, suffered the consequent points deduction, and ultimately were relegated after a play-off.Quote:
Originally Posted by HIBERNIAN-0762
Hibs have a c.£6m debt. Do you think we should be demoted as well? :greengrin
I suspect most of my 1000 haven't been that great either :greengrinQuote:
Originally Posted by marinello59
Our debt and theirs are obviously two different scenarios I would have thought Crops :wink:Quote:
Originally Posted by CropleyWasGod
wheres the 'like' button when you need it... :greengrinQuote:
Originally Posted by marinello59
Is this it then? Is this the official explanation? Cos otherwise I can't for the life of me understand why anyone would sign for a club which even the most optimistic Jambo knows will be in administration shortly and therefore your contract may be terminated. Why would you sign unless you were a complete moron? Oh, hold on...Quote:
Originally Posted by Springbank
I've wondered about that for a few days.Quote:
Originally Posted by bingo70
Can't quite find clarity in the rules but I can't see anything to stipulate only one penalty may be suffered.
I suspect the points deduction followed by Hearts own insolvency event would be a pretty deep hole for them to fall into though.
And about as hilarious as it gets...
Skacel next per chance? One year deal, coaching role and number 51 on the shirt. Add in Chis Boyd and they will be renewing season tickets and taking out new membership schemes before you can say Jamboshafting.
Then the wages will be delayed from August much to Hearts board surprise....and here we go again..
:agree:Quote:
Originally Posted by Springbank
A second points deduction is a possibility and a punishment that is available to the board, it does have the caveat of "at the boards discretion" however. If UBIG suffered and insolvency event and this caused Hearts to also suffer an insolvency event, this could result in 2 point deductions but the SPL would be unlikely to apply a second. If a decent amount of time passes however then the SPL could do it.Quote:
Originally Posted by bingo70
I don't think they'll get hit for two points deductions, first for the confirmation that UBIG are insolvent followed by one for entering admin. They could argue that the two are linked (despite their claims that they are "self-sustaining").
But when they fail to pay wages on time yet again next season the SPL will have little option but to use a points deduction for a repeated breach of the same rule.
I was told I made one in 2004. I still celebrate its anniversary every 14th March.Quote:
Originally Posted by marinello59
Must have been that post wishing me a happy birthday then :greengrinQuote:
Originally Posted by Beefster
Wasn't talking to the particular gentleman you refer to but I do know some agents down here & as you say they've been anticipating the perfect storm scenario re Yams for some time. My experience is agents are always first to know what's going on which helps explain my continuing confidence that Yams absolutely best scenario is admin & a 15 point deduction. I continue to think it will be much worse (for them of course)!Quote:
Originally Posted by Springbank
Maybe Hearts players don't believe that things are as bad at Hearts as we believe, when you read why Wilson signed a 3 year deal with them.
Quotes like these below makes you think are things at Hearts as bad as we believe they are??
I don’t think the club would offer me a contract if there was no future here.
But the club have said all along that there is nothing for the players to concern ourselves with.
If we do start with a deduction, it is something we will need to meet head-on. But there is no guarantee of that happening. So we will need to just wait and see.
http://www.thescottishsun.co.uk/scot...ny-Wilson.html
Or check the dates:Quote:
Originally Posted by YehButNo But
http://www.bbc.co.uk/sport/0/football/16967931
Then
http://www.bbc.co.uk/news/uk-scotlan...-west-17015966
:cb
Does he not read the newspapers? Well except for the EEN where #Allisbarry.Quote:
Originally Posted by YehButNo But
Pure PR spin to sell Season tickets and 'Membership Schemes' to the puddle drinkers.Quote:
Originally Posted by Geo_1875
If Hearts sign nobody and cut their wage budget to a realistic level, the vast ranks of the deluded will keep their cash in their pockets. Signing Wilson / Boyd / Skackel will have them 'believing' again and flocking to empty what's left of their bank accounts into Fedotovas', er, the club's back pocket.
Both options result in their death, but the signing a few 'exciting' names route will see a lot more cash flow into their coffers before the plates stop spinning. It's no loss for the players as long as they get their signing on fee upfront and most of their wages before things do go pop, they'll pack up and move somewhere else.
From the headlines I assume he has already signed a contract of sorts but obviously can't be registered with the SFA until the transfer window opens. Where would that leave him when they go pop?
Quote:
Originally Posted by Geo_1875
If they went pop, the contract would be void, but.........
If they messed up a little, and got another player registration ban, could they still have to pay him without being able to play him.
I also think that the Hearts are the last bit of Vlads empire that might be generating cash, don't forget that young Romanov is still chairman ! and the rest of the board are from Lithuania where salaries are nowhere near as well paid as here so it's a nice wee earner while it lasts.Quote:
Originally Posted by ScottB
Is there any word on these much sought after shares ( the ones that were going towards their "state of the art" wholly owned revered youth academy )
Have they been sent out to the piggy bank dippers yet :rolleyes:
Danny's always got his singing career to fall back on...
Being here is wonderful...........
Everything is wonderful,Quote:
Originally Posted by Greendrongo
Being here is heavenly...
Quote:
Originally Posted by tamig
mary's prayer :greengrin
Quote:
Originally Posted by tamig
Quote:
Originally Posted by cabbageandribs1875
"Everything is free" :wink:
"Suddenly the heavens rolled
Suddenly the rain came down"
I got it a bit mixed up. Was a while ago now.anyway i suspect the yams will add all the signings they can in the next couple of weeks. Sure sign they know a transfer embargo is on its way.Quote:
Originally Posted by tamig
AllisbarryQuote:
Originally Posted by tamig
Is the UKIO appeal this week ? 30th rings a bell.
I've just been on Keechback, checking out the Hertz' fans take on all this. Amazingly, they appear to believe a fans takeover is done and dusted and are now debating the in and outs of said deal!! There is no mention of asstes being "frozen", hence an inability to conclude such a deal at present. Discussion of financial difficulties for the club is non-existant. Increasingly, indeed, they are slagging each other on a personal level.
http://i43.tinypic.com/aw553n.gifQuote:
Originally Posted by Bill Milne
Quote:
Originally Posted by Bill Milne
There are lots of reasons to criticise Hearts fans, but I have to concede that they have plenty of justification for engaging in this course of action.
will wait with baited breath. it's a bit unreal to see this thread drop off the front page. c'mon Crops , Cav, greenginger etc . we need news, preferably bad.........for that lotQuote:
Originally Posted by Treadstone
Some refreshing news over on the PM board. :wink:
well worth a ten spot. :greengrin
What news?Quote:
Originally Posted by Www1875hfc
As someone who has looked at this thread every morning since it began...Quote:
Originally Posted by Www1875hfc
That's no' fair ! :wink: