Rangers FC died. The club playing in red, white and blue at Ibrox are named 'The Rangers'.Quote:
Originally Posted by StevieC
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Rangers FC died. The club playing in red, white and blue at Ibrox are named 'The Rangers'.Quote:
Originally Posted by StevieC
I can't see it (long term admin) being feasible.Quote:
Originally Posted by StevieC
1- they'd begin every season on -15 points
2- they'd be under a player registration embargo every season
3- the two points above combined would see them consigned to the lower leagues or worse in perpetuity, with much reduced income keeping the likes of Tynecastle running would be impossible
... and we're off. :greengrinQuote:
Originally Posted by Nando™
EDC and Hearts will have the EC all over them like a bad rash if any public money is illegally used to assists Hearts in an anti-competitive way.Quote:
Originally Posted by StevieC
:wink:Quote:
Originally Posted by CropleyWasGod
They must never forget.
A Jambo 'mate' of mine just text me to say it's being announced their getting this CVA and their out of administration.
he beieves that there's about 7,000 fans who've pledged money on a monthly basis. Some business woman is going to bankroll Hearts and they money from the 7,000 will be used to pay her back.
how much would it cost to run a football such as Hearts? How much is said to be pledged by this group? If the people pledge an amount and decide they don't want to pay it (ie if Hearts are struggling in the Championship) then do they get chased for the money?!
As you can see all going over my head!
It's good that your Jambo mate got all this important info before journalists. :greengrinQuote:
Originally Posted by Paperboy
They approved the CVA in November. Nothing has changed sinceQuote:
Originally Posted by Paperboy
Again, this is old news. Her name is Anne Budge and the FOH claim to have approx 7600 direct debits.Quote:
he beieves that there's about 7,000 fans who've pledged money on a monthly basis. Some business woman is going to bankroll Hearts and they money from the 7,000 will be used to pay her back.
The Direct Debits can be cancelled at any time. There is no minimum commitmentQuote:
how much would it cost to run a football such as Hearts? How much is said to be pledged by this group? If the people pledge an amount and decide they don't want to pay it (ie if Hearts are struggling in the Championship) then do they get chased for the money?!
It's the business plan of dreams. All it needs to make it perfect is the return of misunderstood managerial genius Craig (why don't I get offered the really big jobs?) Levein, who will thankfully be parachuted in by Anne Budge, under threat of withdrawing her loan.Quote:
Originally Posted by Bajillions
Was your mate able to explain how they are going to get hold of the frozen shares, I'm intrigued!Quote:
Originally Posted by Paperboy
News travels fast down Gorgie way possibly the slowest paperboy ever.:wink::tee hee:Quote:
Originally Posted by Paperboy
Doesn't make sense... she pays them out of bother... the 7000 pay her back.... the Club then has no money to go on with...Quote:
Originally Posted by Paperboy
Do they not think these radge things out in their heads first ?
Is your mate stuck in November 2013?Quote:
Originally Posted by Paperboy
The way they think it'll work is thusly:Quote:
Originally Posted by Niffy
The loan will be used to buy the club.
The direct debits will be used to fill the funding gap between now and the end of this season (if they take over before then).
The FOH will then launch season ticket sales and run the club on their usual footballing income. In a 'self-sufficient' manner.
The direct debits will then be used to pay back the people (it's not just budgie) who have loaned FOH money.
The fact the FOH started collecting money 4 months ago and expected to have control before the end of the season shows how long this has already dragged on.
Bet Banderson is throwing a hissy fit at the Scotsman office right now.Quote:
Originally Posted by MehHFC
'Banderson, it's garbage. Your story contains nothing new and is pure wish-fulfilment. Even we can't publish it, and God knows we've printed some absolute rubbish from you in the past.'
'No it's no! I'm well clued up! Hertz are coming out of admin at 5:01pm today (or maybe 1:05pm tomorrow, cannae remember) and Levein and Hartley and Locke and Billy and JJ and Neilson - but not McKay - are the new managerial dream team, and they will get a seven figure sum as a war chest to rebuild in the summer. And Rudi and every other player that was good is signing on ahead of the semi final.'
Then 'good news' has made it to Craiglockhart-
Just overheard that they will be getting the shares on Wednesday, this is from the more educated jambo at my work who likes to think he is 'in the know', he said a journalist friend of his has told him this and he is convinced that it's true.
He's not been so excited in years.....
Couple of things:
it would be funny if they ran out of money and had to be liquidated, whilst FOH have hundreds of thousands in the bank that they can't use
if (big IF) it all goes through, the CVA etc then FOH will have a nice little nest egg for when they take over - or will they have allowed for that in the business plan
Just re-read that and it looks like I think it might happen - I believe Bajillions and Sergey, ain't gonna happen anytime soon!
1. if that happens, the money is to be repaid, minus a "processing fee"Quote:
Originally Posted by WeeWendy
2. the "nest egg" is supposed to pay for the CVA, in time.
Was the Budge/Levein love in reported anywhere?
Just thinking aloud but could they be keeping St sales for the week after the semi. As in buy a st get a ticket for the final guaranteed and the usual help save the club stuff or even bring this out the week leading up to the final meaning that the semi could really be **** or bust for them? Or does it really matter in the grand scheme of things?
I got that the dd's are to pay the diddies back, just thought the timeline might have been worked out from the point of takeover. The longer it takes in any case, the less time the diddies will be out of pocket?Quote:
Originally Posted by CropleyWasGod
I don't know why I'm bothering trying to understand it all, it ain't gonna happen!
Premature to say the least, its not going to change anytime soon.Quote:
Originally Posted by c31
Kickback...Quote:
Originally Posted by Jack
...I rest my case!
They didn't sell out for the league cup final last year so it's unlikely they will this year. Can't see even the daftest of Hearts fans buying a season ticket to secure a final ticket. They have a silly wee loyalty points system over there anywayQuote:
Originally Posted by BH Hibs
Are you fed up with the low interest rates currently being offered by the Banks and Building Societies?Quote:
Originally Posted by CropleyWasGod
If so put your money in the new FOH Bank. You'll get bugger all interest and if successful you will never see your money again.
If it fails you are guaranteed to get all your cash back. Less of course the amount that stuck to the sides of the FOH account and to the fingers of those operating it.
You know it makes sense!
Theyve lost 600 in 2 days :greengrinQuote:
Originally Posted by Paperboy
You will also get a nice fuzzy warm feeling knowing that you have done your bit.Quote:
Originally Posted by jgl07
..... or that may be the fact that you've peed yourself when you realise what else you could have done with the money.
Quote:
Originally Posted by CropleyWasGod
CWG - sorry may have missed this, but the Scotsman article states all £2.5m will go to UKIO - I thought Amdministrator's had first call
on the cash
I work in Craiglockhart and I've heard no such thing. But then the only Jambo in Craiglockhart I know is off sick.Quote:
Originally Posted by c31
All fees due to BDO after the date of the CVA have and will be taken out of the ongoing running costs of HMFC. The feeds payable from the CVA money are capped.Quote:
Originally Posted by DarlingtonHibee
And we have a refusal and a faller at the first!Quote:
Originally Posted by CropleyWasGod
Their 'Less 15% admin-fee' - bet that gives the average muppet a warm, cosy feeling - knowing that their hard-earned paid for all the champagne-beanos that FOH have been trying to entice 'Big-business' with. It certainly gives me a warm, cosy feeling knowing it !!
Just on the news that Heriot Watt Uni staff going on strike after a 1% pay rise was refused while the gaffer there gets a whopping 24% rise, perhaps if they had they money they are owed it might have made a difference and they continue to train there free of charge, remarkable bad business tact if this is still the case.
Understand the sentiment but it's national strike action as all HE staff are only getting 1%Quote:
Originally Posted by HIBERNIAN-0762
But of course it doesn't help when pillars of the community like Hearts stuff Unis for money.
Don't worry they will cope fine in the lower leagues selling there home baking and getting all these weans to hand over there piggy banks etc etc.then Rudi will be signing on to play for free for the rest of his life ,it just cant get any better being a Jambo just now Oh wait forgot about the Tattooed Psychopath being banned for the semi ,oh yes and the ongoing Will he won't he go (yep step forward billy brown ) and here was me thinking pan to season was overQuote:
Originally Posted by Paperboy
Does that mean that BDO are collecting fees now out of income?Quote:
Originally Posted by Bajillions
Would this arrangement go some way to explaining why UBIG/UKIO accepted the CVA in principle in the knowledge that they could effectively knock it back at a later date by not transferring shares? (to switch the fees over to Hearts rather than out of CVA income?)
:agree:Quote:
Originally Posted by Mellow Hibee
Kinda thought that but desperate times and all that. Also has the venue for the final been announced yet?Quote:
Originally Posted by Bajillions
Oh aye hopefully ICT hump them in the semi anyway
It would appear - in a word YES !!Quote:
Originally Posted by Mellow Hibee
:rolleyes:
Not yet. Ibrox Or Murrayfield seems like a good bet since Celtic Park is getting the SC FinalQuote:
Originally Posted by BH Hibs
St.Johnstone V Inverness could easily be accommodated at Easter Road.Quote:
Originally Posted by Bajillions
:agree:
Or tannadice if that's a bit easier for both teams travel-wise?Quote:
Originally Posted by Ozyhibby
Them v caley should have been played in perth or abadeen,and yes you are correct saints v caley could be played at easter but you would probably have to open more than one stand !!Quote:
Originally Posted by Ozyhibby
Fabulous! So BDO are effectively taking Hearts and their mug fans to the cleaners by flagging up the false dawn of the 'approved' CVA.Quote:
Originally Posted by jdships
They won't be happy on Kickback when the penny drops - though I wouldn't be waiting around too long for that!
When the penny drops you say? Rudi will be having that penny thank you very much.Quote:
Originally Posted by Dashing Bob S
Brings me back to my favourite kickback quote:Quote:
Originally Posted by nribs
Anyone know what the hold up is with the shares in Lithuania?
Them v caley should have been played in perth or abadeen,and yes you are correct saints v caley could be played at easter but you would probably have to open more than one stand !!Quote:
Originally Posted by Ozyhibby
Is there a reason for so many duplicate posts on here these days?Quote:
Originally Posted by weonlywon6-2
This will be the penny that is perpetually flipping, destined never to land I assume....Quote:
Originally Posted by Dashing Bob S
Mobile phones!!Quote:
Originally Posted by HUTCHYHIBBY
You would think Romanov could be the jokerQuote:
Originally Posted by Sergey
Mobile pbones.:greengrinQuote:
Originally Posted by Mikey
If you post from your phone, and then navigate back, it will re-post. I thought that had been cured, as it hasn't done that on my android phone for a while now :dunno:
Cheers G, will explain how I missed it :giggle:Quote:
Originally Posted by Sergey
If you mean the council are "skint" then yes they basically are, a bit like plenty of Scottish councils. I don't want to go political, if you catch my drift but if the current council were to ever think about assisting HMoFC with remodelling their stadium, ther would be uproar. the knaves and charlatans that have ridden the rollercoaster the is HMOFC should be taken to account, not the honest law abiding taxpayers and council tax payers of this fair city. apart from that, there would be demonstrations from our side. we cant stand by and let them piss all over us!Quote:
Originally Posted by StevieC
You only have to look at the mess Swansea council and Swansea City are in now with the EU to realise it is not going to happen.Quote:
Originally Posted by monktonharp
Hearts are a private business and are responsible for ensuring they have adequate premises to operate from.
A new Hearts would be the same.
well, it has hosted a euafa cup final before, 2nd leg iirc.:wink:Quote:
Originally Posted by Wee Scottie Dug
is there a reason for so many duplicate posts on here these days?Quote:
Originally Posted by HUTCHYHIBBY
I just wish someone can come up with an answer, as to how my new phone works! I sure as hell huvnae a clue:greengrin handy for finding out what time it is, saves me from wearing a watch, but that's about as good as it gets:wink:Quote:
Originally Posted by Jack Hackett
yep, I understand what you're getting at, and I am sure some Spanish clubs are in bother with the EU, or their local councils (Madrid, barca) . I recently had a conversation with a Spanish national, who has stayed in Edin. for over 35 years and became a Hibby, with his 2 sons. he told me his team from the old country was Deportivo la Caruna. they rent their ground fron the council for 1 Euro, per annum!! the local logic being, that big clubs, bring in big money when visiting their city. not gonna persuade our council to assist in that way, is it?:cb:Quote:
Originally Posted by Ozyhibby
Mobile phones!!Quote:
Originally Posted by monktonharp
Levine will soon be introduced in a messiah like event. Puddle drinkers will rush, 400,000 of them, from the corners of their slums to hail his new awakening strategy- a team, not only without a striker, but without a midfield. Ten men, will line up in front of the goal keeper and attempt to avoid relegation through belligerent drawing.
Had a chuckle at Sickboak this morning, where their current gripe is the number of penalties given against them this season compared to everyone else. Proof, apparently, that there's an SFA conspiracy and the men in black are out to get them.
Conveniently forgetting of course that (a) they have a team full of cloggers and (b) the opposition spend most of their time attacking Hertz box where said cloggers make stupid tackles and handle the ball.
They really are delusional.
They're also slow. At close of play on 14th September penalties against Hearts stood at 40% of the total awarded in the SPL.Quote:
Originally Posted by Barney McGrew
Before the weekend game with St Johnstone they had the same amount of penalties awarded against them as Dundee United. Was it a comspiracy then? There is no surprise that the team at the foot of the table are conceeding most penaltes, or that they have the poorest discipline.
But, as is the Heart way, lets blame somebody else. Pussies.
Brilliant #Allisbarry has latched on to this now.................Quote:
Originally Posted by Barney McGrew
https://twitter.com/BarryAnderson_8[/URL]
A wee disclaimer as well saying it was put together yesterday. Barry trying his best to let everyone know he didn't get his train of thought from sickback.Quote:
Originally Posted by FFupper
Yep, can see the excuse after they are liquidated and lose the wongadome.Quote:
Originally Posted by monktonharp
"But if we build them a stadium it will pay for itself in post card and edinburgh rock sales when 8 Cove Rangers fans arrive to have a big day oot in the city when they play the big team".
yup, he'd obviously done his homework, digging out the real facts ,did our Baz.Quote:
Originally Posted by Treadstone
cove rangers fans? they put the auld adage "tighter than an Aberdonian's Granny's purse" to shame. one bag o' rock between them:greengrinQuote:
Originally Posted by Bostonhibby
From #Allisbarry
@BarryAnderson_8: Price agreed for transfer of UBIG's 50 per cent #HMFC shares to Foundation of #Hearts. Needs rubber stamped legally. Full story in EN today.
is the frozen ones defrosted?? Sorry I'm a bit daftQuote:
Originally Posted by Thecat23
Can you ask him when the shares were unfrozen?Quote:
Originally Posted by Thecat23
I thought UBIG were getting nowt for their shares and it was UKIO who was getting the cash ?. I think Banderson is wrong again, what a walloper.
Of course the fact they can't buy the shares regardless of price will no doubt just be a minor inconvenience.
"needs rubber stamped legally"Quote:
Originally Posted by Thecat23
Is this the closest banderson has come to saying the "shares are frozen"?
Every story whiffs of spin and jackanory style delivarence.
why doesn't mr banderson tell his flock the reasons why this "rubber stamp" is taking so long ?
His next tweet a minute later then says they have to go through the legal process. walloper.Quote:
Originally Posted by Thecat23
Banderson is spineless, just daily fairy tales which the Yams want to hear, but no hard hitting investigation. No big news. Just the same story repeated over again with a new headline to make the situation look not so terminal.
If he's a Hearts fan he's doing nothing to help, he's just sleepwalking to oblivion like the rest of them.
The work of a moment if you've got heavy weights like Foulkes on your team, surely. He'll not put up with these little European nations having their own legal processes.Quote:
Originally Posted by greenlex
:agree:Quote:
Originally Posted by greenlex
Would that be the legal process that has been ongoing,the one that is still going and going?
I wonder who this "verbal"agreement is with?how can you agree to something like that "verbally"without knowing the legal outcome?:confused:
Where does he say it's a verbal agreement ?
UBIG are entitled to ask for something for their shares.Quote:
Originally Posted by greenpaper55
The question, though, is whether they can actually deliver them.
That would be good, what if they wanted £5 million for them ?.Quote:
Originally Posted by CropleyWasGod
They wouldn't get it.Quote:
Originally Posted by greenpaper55
And they know they wouldn't, so they wouldn't ask.
Their best bet is to ask for an amount that is affordable.
It's a guess:wink:Quote:
Originally Posted by grunt
Reason being,no shares to sell(frozen)would equate to no written agreement.
It would also be fair to say a verbal agreement could mean anything from "if" to "mabeys"
He really hasn't a clue. Sets himself up for a fall every time :DQuote:
Originally Posted by greenlex
jambo mate, is writing to me, saying shares are transferred to FOH, happy days.
- so, I assume brokeback, has this 'news' ?
and is it all dog poop then once again from allisbarry ??
Barry Bawheid is just getting himself in a wee froth over not very much. All that's happened is BDO have agreed a price for the shares they were all adamant they were getting for free a few weeks ago. This means BDO have failed at convincing UBIG that the share are worthless.
The legal process for this was always going to be the hardest part to overcome. Barry using words like "rubber stamped" shows what an absolute roaster he is. Rubber stamping something means that the process is so easy and so common that it's approved without due care and attention. This case couldn't be further away from that.
Quote:
Originally Posted by greenpaper55
This could be the big nose to nose stand off between Ubig Admins & FoHQuote:
Originally Posted by CropleyWasGod
FOH - Right, we want those shares
UBIG - Ok, sell you them for £3m
FOH - what! we don't have £3m
UBIG - How much do you have?
FOH - Eh, nowt really
UBIG - ok, then we will just hold on to the shares then
FOH - But, but, we want/need them
UBIG - ok, how much are you going to offer us?
FOH - Eh, nowt, we don't have any money
UBIG - fine, then we'll just hold on to them then
FOH - But, but, but, etc, etc, etc.
FoH are desperate for the shares and it seems it will all come down to how much hard ball UBIG Admins are prepared to play with them. (or at least that how it seems to me anyway, assuming the shares eventually are defrosted).
Allisbarry couldnae report correctly where his last ***** came from.
My 4 yo daughter could right a story that's more believable/factual.
Look, let's just stop being bitter and get real. The CVA has been approved, the price for the shares agreed, the transfer rubber stamped. So we might as well just close this thread now.
The shares will be in FOH's hands soon.
Very soon.
Just you wait and see. (Not that you'll be waiting long, of course.)
Well, Banderson's article is up for all to see:
Is this the first time Banderson has admitted the shares are frozen? A verbal agreement doesn't 'unfreeze' the shares. Ratification through the Lith courts isn't a formality - anything but.Quote:
A DEAL to transfer Ukio Bankas Investment Group’s 50 per cent shareholding in Hearts to the Foundation of Hearts has been agreed, the Evening News can reveal.
The agreement needs to be ratified legally in Lithuania, but would see a token £50,000 payment for the shares made to UBIG’s administrators, allowing the Edinburgh club to exit administration with the Foundation as their new owners.
Hearts’ administrators BDO are proceeding with caution in the hope that the deal can go through despite UBIG’s assets being frozen. Foundation of Hearts already have a £2.5million Creditors’ Voluntary Arrangement (CVA) in place to secure 29.9 per cent of the club’s shares from Ukio Bankas, who are also in administration. The CVA is conditional upon the fans’ umbrella group getting UBIG’s 50 per cent stake.
BDO have been in talks with UBIG’s administrators Bankroto Administrativo Paslaugos for some time trying to negotiate the handover of shares. This is the only remaining hurdle to Hearts exiting administration after the CVA was voted through last November.
There is now a verbal agreement between both parties for the transfer of shares at an agreed price. It has yet to be decided whether the £50,000 would come out of the £2.5m CVA fund – something Ukio Bankas administrators would need to agree to – or whether the Foundation would meet it as an additional payment.
As things currently stand, all of the CVA fund would go to Ukio Bankas, as they are Hearts’ only secured creditor and are owed £15m. UBIG, an an unsecured creditor, would get nothing from the CVA despite being owed around £9m.
BDO will continue to work on the deal and their hope is to have it finalised and signed as soon as possible, although they are relying on the legal process in Lithuania to move swiftly and in their favour. Hearts’ funding for the season is due to run out by the end of March and both BDO and the Foundation are keen for the club to be out of administration before then. Foundation of Hearts declined to comment on the matter.
Meanwhile, the Scottish Football Association have confirmed that Ryan Stevenson will miss Hearts’ League Cup semi-final against Inverness next month. He was red carded for violent conduct at St Johnstone on Saturday, meaning an automatic two-match ban for his club’s next two matches. Those are Saturday’s league trip to Ross County and then the semi-final.
No need to panic yet folks - there's a number of awkward hurdles for them to negotiate yet and time isn't on their side.
Banderson, king of the "ifs, buts and maybes".
Also the small matter of who pays the £50k.Quote:
Originally Posted by Sergey
There's certainly a need to panic - but only if you're an undercover Yam.Quote:
Originally Posted by Sergey
And in breaking news I've agreed in writing that I can buy Edinburgh Castle for £24 from the guy who sells tickets at the gate. He's just waiting for the lassie from the office to rubber stamp the paperwork.
Historic Scotland might have something to say about our agreement.
Just had a wee look over at Kickback and here's some quotes
Quote:
Originally Posted by Geoff Kilpatrick
Quote:
Originally Posted by Craigieboy
So the conclusion they've drawn from Barry's tweet is that the shares aren't frozen. Here's a quote from Barry's article.Quote:
Originally Posted by David Attenborough
Quote:
Hearts’ administrators BDO are proceeding with caution in the hope that the deal can go through despite UBIG’s assets being frozen.
Maybe you should ask her to show you how it's done :wink: :greengrinQuote:
Originally Posted by Aldo
Those JKB users can only be "undercover Hobos", either that or really, really stupid.
Suppose Jackson can just say that FoH has the shares even if they don't, because they have an agreement to get the shares.
He got away with saying that connected parties were not connected for the CVA vote ,so is anyone likely to argue the point if he says they are ready to come out of Admin. :confused:
Doh what a fud. ;-)Quote:
Originally Posted by MB62