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Massone would be areal headache for the SFA, given that he has previous for being a catastrophe for Scottish football clubs. Think I'll just buy myself another big bag of popcorn and settle back for the rest of the feature.Quote:
Originally Posted by BarneyK
Aye. Ukio have security over Hearts' assets so that security needs to be released for Hearts to continue in business. The other creditors would have to take what is left over after Ukio have taken an amount to satisfy that security. UBIG could reject that, but it's unlikely they would do that because they would get nothing in liquidation. The potential complication after a deal is agreed with Ukio is if the shares held by UBIG are not able to be sold for Lithuanian legal reasons. But if the buyer can't agree a deal with Ukio first then that is no longer relevant.Quote:
Originally Posted by 7062
Has Massone been subjected to the "Fit and Proper Person" test yet?!
Absolutely not a ****ing hope he'd pass this given his track record in Scottish Football, surely? :confused:
A letter of recommendation from Sidney is being penned as we speak.Quote:
Originally Posted by The Story So Far...
Massone doesn't have millions. He claimed to have supported Livingston by ploughing in "millions" of his own money when they were cruising towards the second administration - when Ged Nixon and the Livingston 5 consortium took over and looked at the books, they highlighted what we knew all along - that this was utter pish.Quote:
Originally Posted by PapillonVert
Oh dear.Quote:
Originally Posted by BarneyK
He's an asset stripper.
He doesn't care about the football club. Only the opportunity to make a quick buck.
He can buy the asset (land), hand the club over to FoH for £1 or a dozen home-made iced buns and leave them with the problem of where they play their games. He could in fact even rent Tynie to them whilst he thinks about how to develop the site or wait for the land value to rise and then chuck them out.
Don't imagine that because Massone is in the bidding, he intends to continue with the football club. He sees an opportunity to make cash.
That's what I imagine his motivation is.
FoH tweets. :greengrin
.Quote:
Small point in addition to the "official stuff": it is important for calm. Nothing has changed. Failure to do deal always meant liquidation
I don't think they meant the 2nd tweet to read how I interpret it. :greengrinQuote:
A very impressive bid team (with top level "deal" expertise) is on top of things - its the next step in a process!
This is the SFA/SPL/SPFL/Bertram Mills circus we are talking about here.Quote:
Originally Posted by The Story So Far...
Massone will pass with flying colours.
Very few people who do these deals have a halfpenny in cash. With these people, it's often smoke and mirrors and others are usually left to clean up the mess later.Quote:
Originally Posted by The Story So Far...
Once they have waltzed off into the sunset with all the cash.
Ask Vlad.
Edit: I perhaps should have said "very few people who do these deals put up a halfpenny of their own cash....."
Could it possibly be that he couldn't care less whether he passes the SPFL's "fit and proper person" test if his aim is to get his grubbies on the land?Quote:
Originally Posted by The Story So Far...
The Thread heading needs changed, Admins.
How about "Liths send bidders away to think again" :greengrin
Quote:
Originally Posted by PapillonVert
He can easily get around any Fit And Proper Persons test by not being part of the board. He just needs to slink into the background - or get someone at the Daily Record to announce his 'wealth is off the radar'.
There is no test. It's basically a form that owners sign saying "I promise am no a dodgy geezer". Getting round it is simply a case of putting a puppet in charge instead.Quote:
Originally Posted by The Story So Far...
I think some people think it's like the scene in Skyfall where Bond is trying to be cleared for duty.
:top marksQuote:
Originally Posted by Bajillions
Intermission.:greengrin
http://www.dailyrecord.co.uk/sport/f...y-july-2101685
5 million needed according to this vid. Oh dear!! Dark skies over tincastle Today!:na na:
''Deep in the grubber'' Quote and a half!!!!
Boom :greengrinQuote:
Originally Posted by kdhibees1
Pretty much agree with that but he will want a lot more than a pound for Hearts. He knows they will pay just to keep the name. It is worth a lot to Hearts supporters. Bet you he wants half a million for that alone.Quote:
Originally Posted by PapillonVert
Like Vlad did for years? :wink:Quote:
Originally Posted by keekaboo
So, out of the frying (or should that be "baking") pan into the big burny fire?
In other words, this clutching at the straw of Massone not being allowed to take over the club is a piece of absolute nonsense?
If they handle their bid as well as they use apostrophes, we'll have nothing to worry about :greengrinQuote:
Originally Posted by #FromTheCapital
I think he is perfectly fit and proper to run a club like HoMFC.Quote:
Originally Posted by Bajillions
Just don't let him near my club.
Grammar alert!!!!!Quote:
Originally Posted by The Green Goblin
I noticed that too.Quote:
Originally Posted by The Green Goblin
Shocking.:grr:
Surely it's time now for the SPFL to put 'Plan Morton' into place!
:confused:
They can't act on what MIGHT happen.Quote:
Originally Posted by keekaboo
You just know that they are going to go into liquidation next week and the spffl will let them sta
Is the bottom line simply that they need to increase the bid by £iM to have the bid accepted? If it's as simple as that they're surely out of the woods as that sum can easily be achieved by their more affluent supporters if it means saving their club. Or is that a silly interpretation? :greengrin
That can't happen until Hearts are kaputQuote:
Originally Posted by keekaboo
@BBCchrismclaug
Quote:
Shortfall on offers for Hearts and what owner's administrators want could run into millions of pounds according to club's own administrators
Haud aff oan them derby tickets lads!
Whit tickets wid that be? :greengrinQuote:
Originally Posted by Treadstone
Cakes and face paints at the ready. We might have been a laughing stock last week but inshallah, the last laugh has yet to be had...Quote:
Originally Posted by Jim44
Quote:
Originally Posted by keekaboo
There is no "Plan Morton".
The "plan", if you can call it that, is to keep their heads in the sand for as long as possible. If the dung hits the dungclub good and proper and they have to take said heads out of sand, it'll be "censure"s all round for homofc plus help (financial, so-called temporary suspensions of signing-bans) to keep them going.
Correct.Quote:
Originally Posted by hibs4thecup1988
Cheating *****.
You misunderstand the term liquidation.Quote:
Originally Posted by hibs4thecup1988
When a company goes into liquidation, it stops trading. Therefore what you suggest just cannot happen.
If they're liquidated they won't exist.Quote:
Originally Posted by hibs4thecup1988
This isn't a repeat of the Rangers/The Rangers scenario.
You couldn't be further from the truth. Hearts have already asked for financial help and been told no. If Hearts are liquidated this is not a Sevco situation. It's incredibly unlikely there will be enough left over for them to continue.Quote:
Originally Posted by clerriehibs
The relevant thread over the road has the title...... "Not Looking So Good".
:hilarious
for them maybe, for everyone else, its a good monday :wink:Quote:
Originally Posted by Mikey
still head in sand stuff over thereQuote:
Originally Posted by Mikey
Why are people still saying they'll keep stumbling along with help from the authorities?
When Plan Liquidate is put into action there will be no Hearts.
So, I assume, I am then to prepare the sacrificial goat for this Extinction Event to happen then.:greengrinQuote:
Originally Posted by CropleyWasGod
I hope it is so.
However - death is far too honourable an event for the mutants, but I will accept the vast amounts of pain, suffering, humiliation and my own personal deep satisfaction to watch them ferkin die, bleeding, gutted, sliced and torn to shreds.
(Or is that going to far?) :)
Is it up the pecking order yet ? Fourth last time i looked.:protest:Quote:
Originally Posted by Mikey
NoQuote:
Originally Posted by zargonian
so, are the cake sales all done? no flour left in the cupboard?
boo hoo, jambos being crushed. Get in.
Is it really too much to expect the football authorities to make comment on the steps they are taking to protect the integrity of the league, fixture list or 'product' as they may describe it. Supporters from all teams deserve to know what they are signing up for - league wise - this season. At the moment there is significant uncertainty. Whether or not they can act but they can certainly comment!
BBC 'understands' have changed their tune in the sake of 2 hours from needing a mere million more from a bid to:
Hearts face
the prospect of liquidation unless someone outstrips present offers for the club
by millions, administrator Bryan Jackson has warned.
Jackson's counterpart looking after the affairs of the club's owners, Ukio
Bankas, has said none of the bids received for Hearts are acceptable.
They wouldn't have needed "Plan Morton" if they'd had the sense to apply the 18 point penalty in May and relegate them. They let them off because of legal speak bunkum and they're now unlikely to see the end of August.
Unlikely to see the START of august :wink:Quote:
Originally Posted by Mikey
"He who laughs last, laughs longest".Quote:
Originally Posted by steakbake
And I've bought a season ticket for 19 home games. Will the SPFL reimburse me if there are 11 teams in the league, because I don't see why Hibs should.
FoH statement today, must do a lot to put the Yams mind at ease.
http://static.ow.ly/docs/Foundation%...02013_1oS1.pdf
Monday 29th July 2013
Statement issued on behalf of Foundation of Hearts
The Foundation of Hearts and its advisors note today’s statement issued on behalf of Ukio Bankas administrator Gintaras Adomonis in relation to the possibility of liquidating Heart of Midlothian plc (in administration) should a satisfactory offer not be received.
Ian Murray MP, independent chair of the Foundation of Hearts said:
“Our bid team, working on behalf of the Foundation of Hearts continues to negotiate on the points of the bid submitted on our behalf to BDO.
“Meetings are scheduled for this week, and have been since our revised bid and proof of funding was submitted last Wednesday, as requested. It’s very much business as usual.
“We remain hopeful that we can demonstrate to the club’s creditors that our proposal provides the strongest return and carries the lowest risk, in short by far the best solution.
“This announcement from Lithuania does again, however, demonstrate the need for supporters to set up direct debits via foundationofhearts.org, if they can do so.”
ENDS.
29th July 2013
:agree:Quote:
Originally Posted by Hibee87
Seems as though "a million" should have read "millions".
Such a shame really. :cb
http://www.bbc.co.uk/sport/0/football/23491885
Keith Jackson just seem to pluck £5m out the air, he's no idea if thats the price or not? :confused:
Congratulations Geo. You have won today's "deliberate ironic mistake" prize :greengrinQuote:
Originally Posted by Geo_1875
(Original post now edited)
I'm sounding like a stuck record, but no-one outside of BDO, the bidders and the UKIO admins actually knows.Quote:
Originally Posted by blackpoolhibs
Amazing that McLauchlin is still getting the basic facts wrong.Quote:
Originally Posted by Golden Bear
"Jackson's counterpart looking after the affairs of the club's owners, Ukio Bankas, has said none of the bids received for Hearts are acceptable."
Instead of "liquidated" could we please use the term "liquidised". I know its wrong but its a lot more fun.
Quote:
Originally Posted by YehButNoBut
"Hopeful" or "Confident"?
They dinnae half like leaving things to the last minute, eh!!! Talk about clinging on for dear life!!!Quote:
Originally Posted by steakbake
Quote:
Originally Posted by YehButNoBut
Another excuse to beg for more cake bakes and pledges which never came to fruition .. Die you inbred Neanderthals . die !
Thanks Admins. It needed to be doneQuote:
Originally Posted by GodWasCropley
DesperateQuote:
Originally Posted by steakbake
Has the school been put up for sale yet or planning restrictions imposed due to the "blast zone"? It seems like a nice parcel of land is becoming available down Gorgie way for development.
GGTTH
They would have been in exactly the same position but it would have affected the Championship rather than the Premiership of the new SPFL.Quote:
Originally Posted by Mikey
So why is this different to "the rangers" then? I am easily confused. And when you say liquidated means they no longer exist does that mean everything sold off and they can't even play in 3rd division etc
When your club's about to die, and none else can buy......there's massone. When your starting to worry, you need cash in a hurry.....there's massone.
All the flumps they did drool, mad Vlad no longer rules - no amore! Clocks will tick, tick-a-tick-a-ticktick-a-tick-a tick and you'll sing, "Morte, morte"
Dean Martin kens!!
They won't have a stadium for a start, they also don't have time on their side.Quote:
Originally Posted by hibs4thecup1988
I think the wheels were put in motion for a newco at rangers months before it happened.
Rangers didn't have secured creditors that are rejecting lowball offers. Hearts also don't have anywhere near the commercial clout that Rangers had. If Hearts are liquidated part of that process would involve selling Tynecastle to the highest bidder so that UKIO can get as much money back for the lithunianian tax payer as possible. Commercial rights etc would also be sold but uncoupled from the stadium Hearts are worth a lot less money. The basis of a football club could be bought and entered into a competition but with the pyramid system it would be unlikely they'd get to skip ahead to the 3rd division.Quote:
Originally Posted by hibs4thecup1988
Are they Caunts no deed yet? Let the Bakeathon begin!
I said from the beginning due to how complicated this whole
Thing was along without the financial/commercial/retail clout rangers have, that they will be lucky to playing any sort of football this season, longer its gone the more chance that exactly what will happen
No not far enoughQuote:
Originally Posted by zargonian
Holding off on the admin could actually be the death of them.Quote:
Originally Posted by Bajillions
Mon the karma. :greengrin
Quote:
Originally Posted by Treadstone
So it's just the nectar points that's the issue then.Quote:
Originally Posted by YehButNoBut
Forget the face painting, get spending at Sainsburys.
Excellent!Quote:
Originally Posted by kdhibees1
Can I suggest "Morte Morte" instead of Karma Karma? :wink:
I think they would struggle to get a Newco company established and sorted out to enter the League system for this season.Quote:
Originally Posted by Bajillions
They will have to cool their heels for a year and try to get into the Lowland League for 2014-15. Or maybe they would have to start in Division Two of the East of Scotland League?
Hearts will be back in some form or another.......
......... Eventually!
Fixed that for ya. My Italian ain't what it ever was :greengrinQuote:
Originally Posted by Hibbyradge
Tactically, Hearts felt they couldn't go into admin late last season, as it would have meant a points deduction and possible relegation to first division.
WRONG MOVE!
By not doing so it now seems they've given themselves no chance to set a Newco before the season starts. Sadly, from their POV, they have messed things up badly. Their scenario now looks much akin to Third Lanark than The Rangers. It's doubtful whether Hearts, in ANY form, will be playing in ANY league competition next season. And almost certainly NOT at Tynecastle.
But 5-1, 1902, killed us as a club etc etc
Wouldn't be so sure. Without Tynecastle it would take a £20m investment to get them a new stadium in Edinburgh. Who has that kind of cash?Quote:
Originally Posted by jgl07
Bob Jamieson and his all star yank consortium was going to spend £45m on a new stadium. £20m thats a bargain.:cbQuote:
Originally Posted by Ozyhibby
Beautiful!! It's their way of working though.... let's leave everything to the last second again and again!! Beggars belief!!Quote:
Originally Posted by Dashing Bob S
Well if they do actually survive this wouldn't be too bad really, that could mean 7 years before they could get back to the top division IF EVER!! :greengrinQuote:
Originally Posted by jgl07
Is that a single tear trickling down my cheek as I read your post..............?Quote:
Originally Posted by Dashing Bob S
Nope...nope....it's just very cold winter weather here. :greengrin
how long have they got to get new bids in?
The 1st I think?Quote:
Originally Posted by bingo70
No-one has said. Thinking they'll get a couple of weeks at the most.Quote:
Originally Posted by bingo70
:cbQuote:
Originally Posted by CropleyWasGod
is there no chance the administrators take into account the seasons about to start and if no acceptable bid is on the horizon do the honorable thing and cut off the life support machine?Quote:
Originally Posted by CropleyWasGod
surely the SPFL have grounds to ask questions now?
I'm guessing this news is what McLaughlin was referring to in his "Wow" tweet.Quote:
Originally Posted by bingo70
Just bought my wife a lovely new appliance for the kitchen. :wink:
No, his phone went on to twitter and typed "WOW" in his pocket :agree:Quote:
Originally Posted by Hibbyradge
Are BDO making a statement this afternoon?
Trouser wowsers? :greengrinQuote:
Originally Posted by bingo70
I wouldn't think BDO will care too much about the season starting soon. After all, they are making money by the day.Quote:
Originally Posted by bingo70
Maybe that was the penny dropping for a member of the media who had until now been following the idea that all is barry....Quote:
Originally Posted by Hibbyradge
Aye, how silly of me, of course it did...Quote:
Originally Posted by bingo70
They made one a few hours agoQuote:
Originally Posted by Simkin911
http://www.heartsfc.co.uk/articles/2...241384_3331202
:agree:They should be right in there. First bids rejected out of hand and creditors alluding to liquidation is a RED FLAG in anyone's book, and the SPFL need to be looking after the interests of all the well run clubs in Scotland, not the shysters. At risk of stating the bleeding obvious, the press should be asking the SPFL what Plan B is if Hearts fail to agree a deal and get liquidated.Quote:
Originally Posted by bingo70
If the Yams start the season how many games will the SPFL give them before they pull the plug ? if only 2 or 3 games Morton could make that up and all the other Teams that shuffle up = the longer they leave it the harder it will be to catch up.
PS
Anyone thinking about buying tickets for the PBS they need to hold off or they could lose their money
I hope all the fandango-ing about is taken into consideration when new licences are applied for.:greengrin
Just remembered the disciplinary meeting with the SFA is now this Thursday, should be an interesting meeting. :agree:
http://www.bbc.co.uk/sport/0/football/23357790
I'm not sure what people actually expect the SPFL to do? They can't do anything as nothing has happened yet. Hearts have unfortunately not done anything that the SPFL hasn't already acted on. As I said earlier. It doesn't matter what happens now as the leagues are going to suffer some sort of problem.
But maybe Hearts get sold an make the start of the season? They play horridly bad but they are still there. It's not very fair that they were kicked out because they "might" get liquidated