Because they can't get their grubby paws on anywhere near a realistic level of capital just now?Quote:
Originally Posted by Beefster
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Because they can't get their grubby paws on anywhere near a realistic level of capital just now?Quote:
Originally Posted by Beefster
I think the Huns probably shade it. They actually let their club die and then let their new one slip into the hands of some seriously shady shysters.Quote:
Originally Posted by NumberSeven
Hearts haven't had the opportunity to make the same mistake twice yet. But you can be certain that they'll follow follow in The Rangers footsteps.Quote:
Originally Posted by JeMeSouviens
As like most things, hearts will copy their big hun pals.Quote:
Originally Posted by Hibercelona
90,000?Quote:
Originally Posted by desantos0773
The Zombies have apparently sold 29,000 ST's for next season. I think that's 10,000 down on their first season's. Ouch.
I've heard BDO expect at least one more bid before close of business today, all hopes are currently pinned on that materialising. I don't know what the FOH offer is as BDO aren't telling any Hearts employees at this time. I get the impression that unless it was hugely improved over what has been touted previously then they'll be starting up the liquidiser.
How long until we hear what the accepted bid is?Quote:
Originally Posted by Bajillions
If no bids are successful what will that mean for hearts?
:cbThat must be from Boab the shoe salesman advised by cooncil fraud-steer. Does anyone think this will amount to serious money upfront?Quote:
Originally Posted by Bajillions
In The Rangers defence, their fans didn't have much time to mobilise. Everything kinda came out of the blue.
Fans of Hearts have known this would happen for at least five years and did NOTHING to prevent it.
it's understandable, though. A large section of their fans have been brought up supporting a false-image - they've never seen their club at it's true-level. The fact they're (maybe) going to find out soon EXACTLY what they're really like - without the money/mercenaries - is one of the reasons I want them to survive. 30+ years of their 'Finance-Football' business model deserves pay-back in the most hurtful, agonising ways - on the pitch and getting ripped a new-one in each and every game. The pictures of their fans greeting buckets in 1986 on 'Sir Albert Kidd' day still gives me that warm, happy-as-****** feeling - this season should see similar images becoming the weekly-norm !!!Quote:
Originally Posted by Jim44
Rangers still seemed to do a hell of a lot more than that gutless, pathetic bunch in gorgie!Quote:
Originally Posted by Pedantic_Hibee
Met up yesterday with an old mate , a Jambo , who signed a DD for £30 a month.
His take on it is he will go along with it until a new owner is in place or at worst until 31st December and then he is withdrawing .
I understand his loyalty in signing up and think his plan is probably the best way for all those who are committed .
The new owners have to run Hearts as a business not a plaything
Time will tell
I know a few jambos that have been quite wary over signing up a DD for FoH.Quote:
Originally Posted by jdships
It'll take a few days at least.Quote:
Originally Posted by NumberSeven
They'll be liquidated as that would then be the only way to recover anything for the creditors. I personally think this is what anyone who wants to own Hearts is waiting for. Pick up the football side of stuff cheaper and have a ready made brand to start a new team with.Quote:
Originally Posted by NumberSeven
Apparently FOH have been saying they've gotten loans from businessmen which will be paid back using a % of the monthly donations. This hasn't been heavily publicised as it essentially means Hearts would be in debt from the 1st second of this new ownership and the pitch for donating to FOH was that all the money would be put towards running the club.Quote:
Originally Posted by desantos0773
As I've said before, general consensus is that FOH are a mickey mouse outfit who change their minds every 5 minutes but they have to be entertained because they're would be uproar otherwise
It will be some time before we get anywhere near an "accepted" bid. BDO don't have the power to accept a bid.Quote:
Originally Posted by NumberSeven
If there is an "acceptable" (cf accepted) bid, that bidder will be given preferential status. An announcement on that would happen, I would expect, next week. After that, the bidder would do their due diligence, and BDO do their due diligence on the bidder.
If the bid is based on a CVA, that process will take a few weeks to organise. If it's based on an asset sale, the timescale will be much shorter.
In either case, it will be a while before anything is accepted.
The bit in bold is the biggest flaw in the FOH's plan. Football fans have a tendency to be incredibly reactive.Quote:
Originally Posted by jdships
Say Hearts got pumped from us in the first Derby. Some fair weather fans would cancel their Direct Debits.
Say Hearts get to December and are rooted to the bottom of the league. More fair weather fans would cancel their Direct Debits.
Say Hearts get relegated, Even more fair weather fans would cancel their Direct Debits.
It's way more likely they'll lose donations than they'll gain them.
I think we are agreeing. I'm just suggesting that BDO wouldn't advise accepting a suitable bid that depended on thousands of A N Others keeping up their non legal agreement Direct Debits.Quote:
Originally Posted by Beefster
Would appear to be so as my friend admitted for both him and his three mates who signed up it was very much a " knee jerk" thing .Quote:
Originally Posted by NumberSeven
Seems too that few wives are not happy with "throwing good money after bad " ( my pals wife's comment !!!!!!!!!!!)
:rolleyes:
just had a message from a Morton supporting friend of mines who claims Neil Doncaster was at Cappielow on Tuesday evening checking out facilities. Waiting to see what else he can tell me.
Sky Sports Scotland@ScotlandSky30sSky Sources understand Hearts have rejected a second bid from Nottingham Forest for Jason Holt.
Maybe he had to stop in for a Lillian Gish on his way to another meeting?Quote:
Originally Posted by hibseleven
I would have thought the Cappielow facilities are good enough. If Ross County can come up to scratch, I'm sure Greenock Morton can.
Edit: seems they already have had it in mind:
http://www.greenocktelegraph.co.uk/s...stadium-plans/
How can BDO be doing their job properly if they're rejecting income?!Quote:
Originally Posted by Heisenberg
I guess it makes sense that they don't want to appear to be holding a fire sale just as they're trying to find a buyer.Quote:
Originally Posted by Heisenberg
There are 3 potential reasons:-Quote:
Originally Posted by Judas Iscariot
1. they may be holding out for a higher bid.
2. they have to make sure that there is a team in place for the start of the season.
3. they have to keep some semblance of a team, to maximise any potential offers.
All of these would, I suggest, be them "doing their job properly."
It would be interesting to know how much that bid was...Quote:
Originally Posted by Heisenberg
Quote:
Originally Posted by CropleyWasGod
I see...
Re. point 1, is the risk of putting Notts off altogether not a greater worry than a lower fee?
Re. point 2, with no cash there won't be a team anyway?!
A lot less than the yams £1m guesstimate I'd suspect. Probs around 150k is my guess based on the fact that they are not really in a position to play hardball..Quote:
Originally Posted by grunt
There's not been any appeals for cash lately so I presume they've got enough money to keep them going for the time beingQuote:
Originally Posted by Judas Iscariot
On 1, it's a gamble sure, but by accepting the first or second bid, that's putting out a signal that all players can be bought for pennies.Quote:
Originally Posted by Judas Iscariot
On 2, by all accounts they do have cash to make it to the start of the season. IIRC, Trevor Birch said they have enough to make it to Christmas.
I'm taking it as Forest letting Holt know the score before he TUPEs over to a Newco.Quote:
Originally Posted by grunt
Cheers :aok:Quote:
Originally Posted by CropleyWasGod
On another note..
Does anyone know why NONE of their preseason games have been played at the Saville-dome?!
:confused:
Same reason as NONE of ours have been played at E.R :confused:Quote:
Originally Posted by Judas Iscariot
This...Quote:
Originally Posted by Treadstone
I suspect the vultures have been circling for a while and are beginning to decend/make their presence known to certain players...
Loving it
"I'm given to believe its a high four figure sum."Quote:
Originally Posted by grunt
Preseason games are generally gash and a waste of money. Trips away can be fun but home games are normally dull.Quote:
Originally Posted by Hibee87
Perhaps only having euro games at er will generate more interest and increased attendance/income?
Dunno?
£9,999? :dunno: He's no worth that much surely.Quote:
Originally Posted by Dashing Bob S
STV understands £75k. I'm not surprised its been knocked back, that is a bit low. Holt looks decent to me.Quote:
Originally Posted by Dashing Bob S
Would he TUPE over automatically? There would be some dubiety here at least surely. Can anyone remember what the situation re TUPE and Rangers was?Quote:
Originally Posted by Treadstone
It's an unnecessary cost, especially if you can get the other side to split the gate with you anyway at their ground.Quote:
Originally Posted by Judas Iscariot
Aye, Sevco done whatever they wanted regardless of other folks' perception of the rules. :aok:Quote:
Originally Posted by Lester B
They are probably waiting for them to go to 90k so they can exaggerate and claim it was 100k or better, a "six figure sum".Quote:
Originally Posted by Treadstone
That poor big team. What happened to those CL wins, World Cup stars, new stands and fanbase of 400,000? It seems so long ago now...it's almost like it never really happened.
I think rangers players had the option to move accross or walk away, I Cant remember who walked but a couple did and went to england, then did rangers not say they were unable to play pending a court hearing as they were trying to claim they were duy compo of some sorts :confused:Quote:
Originally Posted by Lester B
And that is?Quote:
Originally Posted by Hibee87
Thanks!:aok: So it wasn't an actual TUPE situation, thought not. Couldn't really be as sevco was a new company although they could make a claim that they had the assets of the previous company i.e. Greyskull, so could attempt a challenge that it was a related undertaking. If HMFC do liquidate and sell PBS they wouldn't even have that straw to cling to so it would be a blank slate in terms of new employment contracts. The entire squad, what is left of it, could choose to walk.Quote:
Originally Posted by Hibee87
Probably not the biggest worry they have at the moment mind you!:greengrin
Sorry just re read my post and realised it is slightly confusing as if I knew............Quote:
Originally Posted by Judas Iscariot
what I meant to say was NONE of ours have been at home either.
Think they took Whittaker, Naysmith and others to court over it. Nothing happened.Quote:
Originally Posted by Hibee87
NewHuns lost the TUPE case and ended up with only a legal bill to show for their efforts:
http://scotslawthoughts.wordpress.co...ute/#more-3437
Pleasing :party:Quote:
Originally Posted by JeMeSouviens
I think we have to pay for decent teams to play at Easter Road and there's the policing costs etc too.Quote:
Originally Posted by Judas Iscariot
We don't get big enough crowds to cover those expenses.
We either break even or make a few bob when we play away.
:agree: The added bonus is it gives the newly relaid pitch time to bed inQuote:
Originally Posted by Hibbyradge
Tells a story about the traditions of the two teamsQuote:
Originally Posted by Bajillions
Hibs hold off to let the pitch settle, as the ball will spend time there
Hearts hold off to give the old stand roof some respite...
As the wrecking ball will be visiting shortly ;)Quote:
Originally Posted by Springbank
I see..Quote:
Originally Posted by Hibbyradge
I was hoping there was an issue with their ground... Main stand safety certificate for example :cb
Is there any truth that the FOH bid was in a box containing shiny beads,mirrors and fools gold. Ian Murray ....M.P! Was last seen dressed as Christopher Columbus on the Gorgie Rd looking for the BDO natives situated on the shores of the PBS!....:confused:
Apparently he exchanged his box of trinkets for Big chief BDO's daughter...Poka-Hun-Tis !!!..
Can see a lot of young Hearts fans missing out on their Christmas presents if that's when they next go begging again.Quote:
Originally Posted by CropleyWasGod
Hope the SFA take such a hard line. http://www.bbc.co.uk/sport/0/football/23259898
No new bids yet, for anyone wondering.
You're right. FoH are a confused bunch with no clear aim of what they are trying to do.Quote:
Originally Posted by Bajillions
They're going on about membership schemes that mimic European giants like Bayern, Real Madrid, Barca, Benfica, etc. The difference is that all of these schemes require you to pay your money up front, then you're a member for the year.
FoH are requiring income per month on an on-going basis, and as you and countless others have pointed out, this income can dry up literally overnight if enough DDs are cancelled. There is no contract, so how can you base a business model on a non-guaranteed income stream?
There's a thread on Keekback where they're all bricking it as someone has it on good authority that a consortium led by Massone has submitted an offer to BDO today.Quote:
Originally Posted by Bajillions
Hopefully true and it trumps the FOH bid to become preferred bidder.
http://www.hmfckickback.co.uk/index....30306-massone/
I think they started this without really expecting to win the bid. Murray will be crapping himself right now.
Quote:
Originally Posted by Bajillions
I'm using my E-Bay tactics and only bidding at 16:59.
p.s. That is also the VALUE of my bid.
#allisbarry :cool:
Apparently there's no truth in that. My understanding is that if Massone did bid then BDO would tell him to bolt anyway due to his past dealings.Quote:
Originally Posted by YehButNoBut
This is obviously a joke but it's disconcerting the number of people who actually think this process works like an auction. Where if someone bid £5m then BDO would release a statement saying "Anyone going to offer 6?"Quote:
Originally Posted by keekaboo
There are also those who honestly believe that BDO have to accept whatever is offered to them if there is only one bidder. That bid has to be more favourable in terms of a return for the creditors than liquidation and I really can't see how the FOH can get close unless they've had a significant cash injection in the last week
I've seen the famous @thejamieryan tweet sir rod telling him that FoH are the only bidders. I bloody hope so
"Joel should have told us but he never knew because he was in prison." :greengrinQuote:
Originally Posted by PatHead
Club 9 Sports have bid, this is the one BDO were hoping for. They aren't expecting any more.
Still 15 minutes to deadline, tock, tick
Worth noting Club 9's blether on the Sevco affair and consider whether they view the yams in the same way -Quote:
Originally Posted by Bajillions
"In the statement, Club 9 said: ‘We understand that it has been strongly rumoured that our group planned to “liquidate” the club. It should be made clear that any party that attempts to acquire the club, eliminate the debts, affect a turnaround, invest monies and put the club back on solid ground is in fact “saving” the club from liquidation and preserving its past and its future.
‘In an asset purchase, all of the good and valuable assets (records, marks, names, trophies, players, staff, history) are preserved and separated from the bad and harmful liabilities (tax bills, bad contracts, creditors), which have put the club into administration and which act to force the entirety into liquidation.
‘By putting all of the assets into a different corporate structure, the assets are, in fact, rescued from liquidation. Such a transaction would be very similar to the one that occurred at Leeds United in 2007, which simultaneously rescued that club, maintained its proud history and allowed the club to shed its debt burden so that it could have the opportunity for future success.’"
Quote:
Originally Posted by Leishy1995
They may well be as it appears that other interested parties are stepping aside with, I suspect, the view that then Hearts minded individuals will not be bidding against each other and hopefully the bidder will pick up the whole shooting match for the minimum outlay. Once the fuds have secured ownership then other interested parties will collude with the new (skint) owners as to how best to take it forward having shafted the Liths.
I suspect that is the cunning plan.
Why would the Lithuanians accept a paltry offer when they can liquidate and sell the ground for more?Quote:
Originally Posted by The Falcon
This from The Herald in 2012 :greengrin
Club 9 Sports describe their approach as seeking to revive struggling companies "through cost-cutting and aggressive sales and marketing". Their most recent venture was the purchase of Quad City Mallards, a minor league professional ice hockey team based in Illinois. The Mallards went out of business for almost one month last year until Club 9 Sports rescued them, but there have been setbacks since, including the late payment of player wages.
"We did have a cash crunch, which is not unusual when you deal with an entity that's been losing a lot of money," Pritchett told the local press. "For a couple of days, we had a payroll shortage, but we rectified that. It was kind of a blip, and we got caught without games and other expenses. In our view, it's not a big deal. It's just the ugliness of a turnaround."
The Mallards have grown attendance and revenue figures, and the performance of the team has improved, although investment has been modest. Club 9 Sports claim to be connected to 24 sporting clubs or organisations, although many seem due to the historical involvement of the 75-year-old Carl Scheer, a vastly experienced administrator and executive in US sports, as a senior advisor.
http://www.heraldscotland.com/sport/...again.17090270
3 bids in for Hearts seemingly.
http://sport.stv.tv/football/clubs/h...adline-passes/
Administrators BDO have received three bids from potential buyers for Heart of Midlothian.
Joint administrators Bryan Jackson and Trevor Birch set Friday, July 12, as a deadline for interested parties to submit their proposals to buy Hearts.
The club, which is in debt to the tune of £25m, entered administration on June 19 and BDO will now assess the bids to establish which could deliver a CVA. Fan-backed Foundation of Hearts submitted their offer on Thursday, having gained monthly contributions from more than 5000 supporters of the Tynecastle side. STV understands the two bids received on Friday include one from an American-backed group and another unnamed bidder who has not previously been revealed in the media.
Mr Jackson said he would hold further discussions with bidder and the administrators of Ukio Bankas and was "unable to put timescale on announcing preferred bidder."
Hearts' ownership is complex, with insolvent bank Ukio Bankas having a claim to 29.9% of the company, plus Tynecastle Stadium. Ukio is owed £10m by Hearts.
Meanwhile the club's former holding company, UBIG, has 50% of the shareholding and is owed £10m. UBIG has declared insolvency in Lithuania but bankruptcy practitioners have yet to be appointed to the firm.
Until the insolvency process begins at UBIG, the assets are frozen and the 50% shareholding in Hearts cannot be obtained by BDO to sell as part of the CVA.
Meanwhile the capital club also announced season ticket sales had passed the 10,000 mark, having bought over 3,000 briefs in the past three weeks.
They shouldnt but we dont know if there have been any offers for the ground. They will probably take the best offer that is made.Quote:
Originally Posted by joe breezy
Has the ground as a piece of property (no hoofball club attached) been advertised yet?Quote:
Originally Posted by The Falcon
They can't really gauge that without going into liquidation although BDO's ads will have brought out some indications if that route will raise more the FOH and any other bids. That is what Ukio and UBIg will compare in weighing up their options. Any developer will bid significantly more real upfront than FOH or other bids but still be picking up a bargain.Quote:
Originally Posted by The Falcon
Hmmm. My source is still only aware of 2 bidsas of about 4:50. Either the third was very late or BDO are falsely inflating the number.
What knowledge or source is this based on? Why will they not get the best deal for creditors? As has been discussed before this is a different case to sevcoQuote:
Originally Posted by The Falcon
States 3 bids on Hearts website also.Quote:
Originally Posted by Bajillions
http://www.heartsfc.co.uk/articles/2...241384_3236194
Good news guys, BDO have just been in touch and the last minute hibs.net bid was the highest offer. We're now preferred bidders.
I TOLD you £3.75 and a bag of liquorice allsorts would be enough!
:na na:
:agree: Given the high esteem the Global population holds the Yams for doing the double in World Wars and single-handedly saving the whole of Scottish Football, it would have just been embarrassing if only ONE or even TWO bidders expressed an interest in saving this great institution. THREE sounds like a full house and allows DBO to continue their charade of the Yams being saveable.Quote:
Originally Posted by Bajillions
Watch the surprise & mysterious bidders melt away once BDO are quizzed further and for FOH to become the front runner :greengrin
Sky sports reporting 3 bids
Awww, you mean you have pledged our full resource of liquorice allsorts for that heap of s**t. That's the last time you get near the keys of the safe.Quote:
Originally Posted by keekaboo
So 1 is the FOH.
2 is club 9.
Who is bid 3 from?
Hmmmm mysterious
SSN saying Massone. Why don't Hearts just say?
That would be a turnip for the books then.Quote:
Originally Posted by The Falcon
Unless FoH have acquired more upfront capital then a big risk they may not be the preferred bid.
However it's just the opening round, it doesn't mean that any party can't up their bid at this stage after the initial assessment by BDO as far as I understand it.
Maybe they do have extra funds to call on.
Quite funny though if they succeeded and they ended up not as the majority shareholder after all this.
I heard the 3rd bid was the imperial war museum in London in recognition of their efforts in winning both WWs.Quote:
Originally Posted by Waxy
they plan to move the main stand down to London as part of their collection to help recind the "YAMs go home" talk from WWII.
no coincidence it's closed until 29th July, and new gallery space opens next year. :cb
Maybe Donald Trump getting one over on Alex Salmond.
Quote:
Originally Posted by Waxy
If 1 bid is from club 9 that completely contradicts their assertion the other day that they were Yam fans & would leave a clear path for FoH. They probably saw the FoH bid & realised it was a complete farce with no chance of succeeding. If the 3rd bid is from Massone I can see the Liths pulling the plug sharpish!
I thought Club 9 were the caravaner and Americans? I think it was the Scandinavians who pulled out as the didn't want to work against FOH?Quote:
Originally Posted by brog
Quote:
Originally Posted by YehButNoBut
This is crux of the matter. The rest is just piss and wind. Hearts are running out of time. What the Doncaster's of this world have to decide is: can they let them participate this season under these circumstances?
If it's Massone, surely FOH are the yams only hope?
It was the Scandinavian Jambos that withdrew.Quote:
Originally Posted by brog
Club 9 are the ones with Bob Jamieson. Initially reported as a NewCo proposal, but I'm not so sure now.
Bid 3 may be the one that I feared.... the late runner, under the radar, a la Charlie Green.
Sorry, it's all very complex!:greengrin You may be correct but I thought Peebles Boaby had also said something along the lines of working with FoH. This has been a great close season but ma heid is now officially nippin!Quote:
Originally Posted by nribs
It's also bulldust. The media keep repeating the line that the shares will somehow be defrosted when UBIG goes into administration. I can't see why that follows.Quote:
Originally Posted by Dashing Bob S
Bryan Jackson was just on Reporting Scotland referring to UBIG as a bank and that they were trying to talk to the current Directors.
Do BDO know what they are doing ?
Brother in Law is a yam blowhard who rarely attends games but is definitely a believer, like most of rhe cardigan ironning types the decision was made for him by his trouser wearing good lady, a much loved Hibby who is a season ticket holder. Their children will be brought up Hibbies, she's decided and he's been told. Its what that typw of yam allow to happen to them.Quote:
Originally Posted by jdships
Possibly camera-fright. This is what is on the BBC website, from BJ:-Quote:
Originally Posted by Seveno
"Further discussions will now take place with the bidders and also with the legal representatives of the administrators of AB Ukio Bankas,"
That makes sense.
That's what i was thinking, are they just tagging the yams along? he said that the 3 bids were nowhere near what is required to buy them, plus they have to deal with the Liths as well.Quote:
Originally Posted by Seveno
Why not just relegate the cheating B******S now!
:confused:
The bit in bold, did he really say that at this stage.Quote:
Originally Posted by HIBERNIAN-0762
That is a millions miles away from what he was saying on RS. He was talking about UBIG and getting hold of the 50% of the shares.Quote:
Originally Posted by CropleyWasGod
Relegation isn't a punishment option. It's a consequence of becoming a newco. Rangers weren't "relegated". They essentially left the structure and re-entered in SFL3.Quote:
Originally Posted by HIBERNIAN-0762
Who knows what will happen but frankly if the Lithuanians refuse a CVA DBO will threaten them with getting virtually nothing back. Tynecastle is only valuable with planning permission and you can bet the council/ Salmond will not allow that. We have to make sure the council and our dear first Minister don't play foul. There are virtually no other assets. Totally unfair, if this happens, as they are cheating runts but I suspect you could get the whole thing for £3 or 4 million. The question is does one of their 400,000 fans have £4m? FoH are a non runner so its really down to who this 3rd bid is?
It would get planning for a supermarketQuote:
Originally Posted by Islington Hibs