:greengrin:greengrin:greengrin
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"Hearts salaries have been behind schedule in seven of the past 12 months"
and yet they expect this month was the 'last' month they will face problems - How do they arrive at this conclusion?
Where is money going to come from between now and next pay, and the next pay and the one after that?
What I dont understand is where they're getting the money to pay them today. I'm guessing its their 6 highest earners that haven't been paid which would amount to 10's if not 100's of thousands of pounds. If they couldn't pay them 3 days ago, what has happened in the last 3 days that has brought the new 'self sufficient' hearts that amount of money?
The trading while insolvent thing is a bit misleading. Broadly the rule is that if the directors incurred costs when they knew (or should have known) that the company would be unable to pay them then they could be held personally liable for those costs. This can only happen when the company suffers an insolvency event because until then the creditors will have an expectation of full payment. As it's written, the law is very strict and very clear, but in practice it doesn't seem to be pursued very strongly. The directors should be worried though, because if an insolvency event does take place they have very little defence against any lawsuit. In my long career I've advised directors to stop trading immediately (and that does mean NOW) maybe half a dozen times, but I've never seen a company in as bad shape as HoMFC is right now. I can honestly say that I wouldn't be at all surprised if we woke up one morning to find Tynie closed for good, particularly given Mr Romanov's recent comments and attitude.
Wow. On a rough calculation I make that approx 2,000 extra walk-up fans every fortnight just to service the debt, before they even start on their oversize wage bill. But of course with a fanbase of 400,000 that shouldn't be too much of a problem for the Big Team :greengrin
A lot of news sources now reporting they expect to have everyone paid by the end of today.
No hertz or the buns in the league, one can but dream,I have a feeling league restructuring will save the yams.
http://wck2.companieshouse.gov.uk/4d...b5/compdetails
Funnily enough, Companies House lists them as being about 6 weeks late with their Annual Return which would confirm the names of current Yam directors.
May'be nobody wants to be the fall-guy, or may'be they can,t raise the £ 13 filing fee. :greengrin
I'm thinking likewise. Although they have a home game on Sunday which is televised. Would ESPN/Sky pay the TV fee upfront? Add in a couple of thousand walk ups, and all the pie money, they might be able to survive this week. They will be at home next week also, but then its mid to end Nov before the next home game. Its going to be a tough Xmas for Ryan Stevenson and his family, but its obvious that they are not self sufficient, and that the mad one must be bailing them out, or they would need to shut down early Nov. :greengrin
:fenlon
:lolyam:
Were there not meant to be rules in place punishing teams who dont pay. Thought this was put in place after their last non-payment or is it the nonsense the players need to complain. One thing they shouldnt be allowed to do is sign new players though no doubt Skacel will be walking through the door in the next few days.
So what's happened between payday on Tuesday and today, that they have come up with the wages?
They haven't had money from Lithuania since the turn of the year, so where did it come from?
Bear in mind that it's the top earners who weren't paid.
http://www.scotprem.com/content/defa...2&newsid=11407
Quote:
– Specific requirements for SPL Clubs to pay their players and HMRC on time and be subject to sanctions if they do not. Clubs must also report to the SPL any failure to pay players or HMRC on time.
Yeah all points to the fact that barry anderson was talking ***** and hearts are a long way off being self sufficient. A normal football club can only make money in certain ways, i'd like to see how much the other spl teams have raked in the last 3 days when there has been absolutely nothing happening
We shouldn't kid ourselves here - the yaks continue to spend more than they take in, and Romanov/UBIG continues to pick up the tab for the balance. If that was not the case the yaks would have shut down already.
The problem in yak-land is that all cash coming into the club is immediately transferred to UBIG in Lithuania, and the club gets a periodic hand-out to fund the operation. The yaks in Scotland have no control over the size or timing of that monthly hand-out. However, the current size of the hand-out is more than the club can generate itself, but less than what it needs to pay its many bills.
I wouldn't be surprised if, one month, the hand-out from UBIG simply doesn't happen and the whole house of cards simply topples at that point. If it does happen it will be without warning but you can bet your bottom dollar that Roanov will blame everyone but himself for bringing the yaks to their knees. :thumbsup:
They seem to play better when their wages are late, maybe its a russian motivation thing? Start winning or dinny get your money on time, simples ;)
1. The club is not for sale - unless a madman puts in an insane offer.
2. It suits Romanovs bank to have the assets on their balance sheet
3. Romanov tried to buy Russian club Saturn and advised the Saturn owners they could forget about top division football and would have to accept a lower level if he took over, as the reason he was taking over was to route money. So it is likely Hearts will continue under this model - although Romanov had great interest initially that has changed due to other factors. However, he will keep them afloat for his own benefit but may also let them fall down a league as per his want.
4. Going into administration would benefit Romanov how?
With all this talk of winning trophies and medals by cheating, I couldn't help wondering what an older generation of fitba folk would make of it - such as the late great Brian Clough. Perhaps someone has a link?
On the zombieco thread somebody compared cash in and cash out and worked out when oldhuns were due to run out of money. Has anyone done the same for the pink palace parasites? I just dont understand how they can survive with say 3000 walk ups every fortnight paying an average of say £20. I would have thought that would have just about cover the six top paid soulsellers and Fuddley McFuddley. Has Vladdy stuck their season ticket cash in some long term Ukios back pocket in Lithuania that needs a notice period to free up cash?
In 1986 the football season seemed like just any other
but it wasn't.
It was different in many ways, as so were those that did the playing.
In 1986 the average age of the jambo player was 26...
In 2012 he is 19.
In inininininin 2012 he is 19.
(Singing Girls)
All those who remember that year
They won't forget what they've seen..
Destruction of men in their prime
whose average was 19
Dedededededede-Destruction
Dedededededede-Destruction
For those born post 80s apologies but at least this song didn't leave an imprint on your brain
http://m.youtube.com/#/watch?v=b3LdM...%3Db3LdMAqUMnM
1. The club is not for sale - unless a madman puts in an insane offer. Mr Romanov has stated that the club is for sale, but has quoted a ridiculous price for it. In truth HoMFC is worth zilch as an investment because the assets are covered twice over by debt and it continues to make a loss. I don't know whether he thinks his price is a clever negotiating gambit or he thinks he can recover some of his losses by continuing to run the club, but it seems to me that his greatest wish is for that horrible little club to stop pissing all his money up the wall.
2. It suits Romanovs bank to have the assets on their balance sheet. If Mr Romanov's bank is following Intenational Accounting Standards it will already have a full provision against the asset meaning that the value in the balance sheet is already zero - bacause, as I've probably mentioned, that's what they're worth.
3. Romanov tried to buy Russian club Saturn .....let them fall down a league as per his want. I can't comment on the Saturn thing, but it certainly looks like the 'money routing' thing was one of his initial reasons for getting involved in HoMFC in the first place. It seems to me that the whole thing has been a huge failure - it's notable that his bank closed its office in Edinburgh after only a few months and his football club is worthless.
4. Going into administration would benefit Romanov how? The club is trying to operate as if it was in administration already, but not making a very good fist of it. If Mr Romanov wants to achieve a turnaround he might be better to appoint a professional, suffer the fees and protect the club from external creditors. As it stands the club is worth nothing so he has nothing to lose, particularly if he comes out the other side with a healthy club as Boyle did at Motherwell. I think they're beyond that though. While we all know that the directors are puppets it would certainly be in their interest to effect an insolvency event because, with reference to my earlier post, their only defence against trading while insolvent charges went down the pan when Mr Romanov declared he was no longer willing to fund the club. In any case it may not be Mr Romanov who decides to take the administration route if it happens.
Not just a few Yams going without their wages, UBIG are 2 months behind paying their staff at their aluminium plant in Bosnia.
http://www.nezavisne.com/posao/privr...ta-163717.html
:agree:, have to say even some of the more nauseating jambos seem to have woken this morning to the surprisingly strong aroma of coffee.
Difficult not to enjoy the paradigm shift from "GIRUY 5-1 likesay", "big team", "we owe it to ourselves" to:
"We need help to get through this, not punished. And by 'help' I don't mean hand-outs, I mean just a bit of understanding and patience."
Yes that's right my friends we - and others - need to help the wee lambs out apparently. The rod of iron which the pink hordes agreed everyone should use against the nasty, insolvent Rangers should not be used against them.
I look forward to the cap in hand, forelock tugging, obsequious pink hordes begging for a crumb from the glorious Hibernian table.
they're like a smelly jobby - needs flushed away.
really hope they vanish (albeit, they will leave behind a stench.... but we can live with that).
Have they been paid yet? No, thought not.
The TV income will go to the SPL and is divided up using a formula based in league position.
The competing clubs will receive zero.
The crazy thing is why does the money seem to arrive one or two days after the wages were due. Every time this happens, it alerts the SPL and UEFA, and further undermines Hearts' financial credibility.
If you can pay the wages three days late then surely you can pay them on time?
This might be a nyth, but here goes. During the cold war there used to be a daily face off at the edge of Nato airspace. The Soviets would send a fighter over, and two planes from the RAF went to intercept them. The logic given was that if the planes didn't arrive then the USSR would assume Britain was undefended.
It's almost like Vlad does this to test out the vigilance of our footballing authorities. Let's face it, they aren't the sharpest tools, and I wouldn't put it past them to be unable to use a diary. If they forget to do something, he might use it to undermine them.
I'm just speculating here, and fully expect to be shot down - unlike the MIG fighters over the North Sea.
With all this Birac nonsense going on too, you have to assume that Vlad is dropping as many duds as he can while he's still got a few million to get him through his retirement. The prospect of him chucking the 5-8 million needed to get Hearts through to the end of the season seems more and more absurd. He would never see it again.
Hit them with 45 points :greengrin
Well they still don't seem to have been paid despite this morning's assurances. Usually we'd be getting the news all is well at the Pink Wonga Dome around the tea time mark.
Seems different this time.
Vlad's 65 now so he should be thinking about imminent retirement while he can still enjoy it. The Savilles had better hope he lasts another few years whilst he still owns their negligible assets and substantial debts. His laddie Rodney would have as much desire for his inheritance to be further sp(_)nked away in Gorgie as Brooks Mileson's did to continue funding Gretna when he sadly popped it.
Bye Bye Jam Tarts
"The darkest days in 40 years for the club". McGlynn on STV News. Coming up shortly.
:brokenyam::lolyam::brokenyam::jamboclow
:fenlon:jmcp::giruy::flag::hibees:pfgwa
http://sport.stv.tv/football/clubs/h...d-in-40-years/
:lolyam::lolyam::lolyam::lolyam:
"If you're a Hearts fan you can't be feeling that comfortable. You have to realise that.
He said: "I don't think there's any guarantees.
"You don't have to be the brains of Britain, do you? They've not got enough money in the bank to pay you.
straight from the horses mouth, worrying quotes if your a maroonsevco fan.
You never know our luck this thread could end up as long and amusing as the sevco implosion thread! this is (hopefuly) the start of a long period of dominance over them
:lolyam:
Lifted this from the UBIG website. They really did spin things well.
They don't have a pot to pi$$ in!Quote:
In recent years, tickets for Hearts home matches in this stadium, which accommodates approximately 17,500 football fans, have been sold out early in advance of the season. For this reason, the reconstruction of Tynecastle Stadium, seeking to increase its capacity, rearrange its accesses, and increase the stadium infrastructure to satisfy the various needs of the spectators, is one of the main real estate projects currently being implemented by UBIG.
They are stuffed, that McGlynn statement smacks of that Iraqi who kept insisting things would be alright. How can the football side be ok? They can't pay the players!
http://www.youtube.com/watch?v=CXl1GkWWGmA
It's a shame it is in the context of a war because that guy really made me laugh.
To be fair to McGlynn, I was listening to the start of sportsound this evening, and that twat Brian McLaughlin suggested to him that the SPL should maybe allow them to free up some money for players such as Rudi Skacel, and McGlynn dismissed it totally.
So would Benny from Crossroads as they don't have any money to free up. The transfer embargo is pointless now Vlad has pulled the plug as they cannot afford currnet expenditure so will be signing nae cant.
Their current predicament is completely self inflicted as the entire paedo nation sat back and watched while Vlad accummulated debt over numerous years overspending quicker than they accummulated sex crime convictions.
http://www.bbc.co.uk/sport/0/football/20001984
"By the end of play today". Well?
Maroonsevco.
Wonga knew exactly what they were doing when they hooked up with this shower of sh***.
Massive and topical free advertising :greengrin
edit
I wonder if they've offered them 'mates rates'
Are they paid yet?
They can stuff their "patience and understanding"
Bloody cheek, this is coming from a bunch of dorks with their "We are unbeatable" chants, teams like ourselves dont concern them because they will be challenging for the league title every season.
Dabating between Kevin Keegan and Bobby Robson as to who will take over as manager
New stadium, extra jobs for the locals, European League every season......we could go on and on
So as for that bunch of bampots wanting patience and understanding, as far as I'm concerned they can ram it right up their jacksy
:not worth
Rangers fans came out with the same type of pish several months ago, the SPL should be helping us not punishing us, etc. the SPL (powers) did try to bend over backwards to help Rangers until they realised that the fans wouldn't tolerate that.
in the yaks eyes, they're as big as rangers and as such, are due the same kind of institutional leeway and support..... They've got a long fall awaiting them
If you look at Hearts income and expenditure they have a much bigger worry in that it appears all their income seems to swallowed up before they even pay wages.
While their stand alone income (£23,130m) does not cover the wage bill (£24,794m) (over the last three years that accounts are available) what would worry me more would be that it does not cover their running costs (£23.131m) either. In fact, over those three years, if Hearts had paid no wages at all they would still have lost money.
While they keep spouting the "we owe it to ourselves" mantra and go on about how great Vlad ("do you know he dosent charge us interest?") is, it seems to me that someone, somewhere is charging them a wad and it's time they grew a set and asked some pertinent questions.
They are at the moment spinning plates, and have been for a while now, but they cant keep this up.
So any big proclamations yet? Or in Jambo world does a day have more than 24 hours? Or is close of play today just another load of pish spouted by them to try to pacify the players and idiot fans
Their website seems to be avoiding the issue this time. Generally they stick in a couple of sentences along the 'nothing to see here' line, but this time they've said nothing and Webster carefully avoids defining the issue in his interview.
http://www.heartsfc.co.uk/articles/2...241384_2953263
Not sure what to make of that really.
They're keeping their heads down on their website and on JKB in the hope that this issue will die a death and that the SPL will remove any sanctions, already imposed or to be announced on Monday. Arch Jambo Stuart Bathgate has been very quiet on the matter, reporting only bare facts with a spin suggesting that the situation at Tynecastle is a storm in a teacup and that this recent 'breaking of the rules' is minor and that the players are very comfortable with it, in that they were well informed in advance and that apparently this will never happen again. I think the SFA and SPL will swallow it and Skacel will be signed on Tuesday morning.
The silence speaks volumes. I have not gotten too excited in the past about these things but this time i really think they are in real deep ****. Their home match this weekend will see them pay the players but i would imagine that some other supplier will get stiffed on the back of it. Its. Not just hand to mouth but robbing Peter to pay Paul and any other phrase you can think of.
Only a matter of time before you hear the hun hordes saying "told you so, clubs cant survive without us" when they do go tits up.
BBCBMcLauchlin@BBCBMcLauchlin Hearts will face disciplinary hearing in Monday over failure to pay players on time in Sept. #bbcsportsound
September? Or is that a mistake
The SPL hearing on Monday relates to the non-payment of Septembers wages - not the October wages. That hearing will take place at a later date.
There's not a hope in hell that they will get off with this and I really hope that the SPL consider a points deduction, as a fine is a non-starter.
Hearts will face a disciplinary hearing on Monday for their failure to pay a number of players on time in September.
The Edinburgh club have admitted they have again been late with payments for October and will face a further hearing for that offence in the coming weeks.
http://www.bbc.co.uk/sport/0/football/20015324
They also shouldn't be permitted to field any unpaid players today.
Ryan Stevenson - You only have yourself to blame ...and Vlad .
Only the SPL would have a meeting about missed wages in September in October after missed wages in October :greengrin
Still think I would be looking to give them a suspended points deduction to ensure they didn't do it again :greengrin
When you consider the circumstances of his departure, he must have been desperate to re-sign for them...a massive loss of face, but he has a family to provide for and probably few options.
Vlad probably jumped at the chance to show his magnanimity, and once again welcome an errant sheep back to the fold. He would also have realized that he had him by the short and curlies and can treat him with even more disdain this time around.
It's a stick-on that he will be one of the half-dozen made to wait and will just have to bite his lip. If anyone kicks up a fuss this time, it will be McGowan...but then he only has to wait 'til January, when he'll be off tout de suite
He ought to have learned from last time that Hertz is not the place to find a stable wage to provide for your family. His other options might have been offering less money, but it'd be money he'd receive each month, on time.
If he doesn't feel like a total fanny now, then he's even stupider than he looks.
I had a look at Hearts close season signings ( 4 in total )
2 goalkeepers ?
A young guy from Raith, all managers like to bring a favourite with them. :wink:
Ryan Stevenson - I wonder if he was a gamble the Yams thought would get them into the Europa Cup group stages ? and get their hands on some serious gate receipts and T V money.
Then they were drawn against Liverpool. :greengrin Too late for plan B.
Wouldn't it just be tytpical of the SPL to hit them with a suspended punishment for September, knowing that they've already missed October's payment :greengrin
Here, they can copy and paste this to use..........
Sept - Transfer embargo
Oct - 3 points deduction
Nov - 6 point deduction
Dec - 12 points deduction
Jan - 24 point deduction
You can work out the rest :greengrin
And they need to have their meetings much more quickly. Nearly 6 weeks after the event isn't good enough.
He was one of the great zoo animal impersonators of his day, monkeys and apes being his speciality, but don't know if he won any medals for that though.
I thought you said "joking apart"? Oh, I see what you did there. :greengrin
What, you mean it was Johnny Morris doing the voices all the time? You'll be telling me Ray Allen was fisting Lord Charles next!! Where does it all end - Nookie bear couldn't really talk, Muffin the Mule is an offence. This modern world is killing me.:confused:
Are they paid yet?