Knew before opening the link the article would be by one of the EEN's resident Jambos.
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The cadence of which Banderson writes his Jambo articles, I just picture him being a type of person who wofts his own farts into his face for enjoyment.
You're right, generations have seen them do it with other people's money, often misappropriated. They can't or won't get their head round how it could be done without really slurring the club's reputation.
The stigma of bumping the Lady Haig poppy fund and their own charities is not a smell I'd want following Hibs around in exchange for a couple of trophies. Much better to do it the way we did in 2016
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Rangers and Hearts are very different cases. The old Rangers deliberately gave their players 2nd contracts and concealed these from the SFA and HMRC. These were both illegal in law and against the SFA’s own rules and would normally result in forfeiting any game these players played in. Only the collusion with the SFA saved them from having titles stripped. Our very own Rod Petrie was part of the cover up.
Hearts didn’t break any football rules until the day they went into admin. They then were punished for it.
Scottish football still has no FFP rules because Sevco could not survive without the constant over spending.
Why clubs like Hibs give them a free pass all the time remains a mystery to me.
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Agreed. My point is cheating is cheating. Whether it's the blatant and systemic approach by R(IL), or the consequence of herts largess leading to Admin and subsequent punishment.
We shouldn't be saying it's ok to do this and win trophies assuming we 'get away with it', just because herts effectively have and, you could argue, so have The Rangers.
i'm still p'd off at an InAdmin Livi beating us in 2004 with players they couldn't afford.
I am not. Who else were HW going to get to commit to that type of lease?
They would have lost even more money over the lease period if they had told Hearts to bolt. Once Budge came in they were effectively a new organisation so easy for HW to do business with them.#
Still stinks all the same.
[QUOTE=Ozyhibby;6089615]Rangers and Hearts are very different cases. The old Rangers deliberately gave their players 2nd contracts and concealed these from the SFA and HMRC. These were both illegal in law and against the SFA’s own rules and would normally result in forfeiting any game these players played in. Only the collusion with the SFA saved them from having titles stripped. Our very own Rod Petrie was part of the cover up. Hearts didn’t break any football rules until the day they went into admin. They then were punished for it.
Scottish football still has no FFP rules because Sevco could not survive without the constant over spending.
Why clubs like Hibs give them a free pass all the time remains a mystery to me.
I'm sure I read that the SFA asked hearts if they had the funds to complete the season and they said that they did. They had lied as they went further into debt to complete the season so that they would not go into Admin until the end of the next season. This gave them more time to get rescued while still in the Premier division. The SFA were also to blame for not seeking proof of viability. A total farce.
[QUOTE=greenginger;6089646]and Craig Beattie... https://www.bbc.co.uk/sport/football/17451400
In a pub full of supporters of all the other clubs in Scotland, we can rightfully boast un-challenged of our cup wins - when Jambos (and Huns) do it there will always be a legitimate 'Ah but….. ' !
However, the worst crime/sin was plundering the charity-boxes - even the Hun didn't stoop that low !.
Hearts agree £22 million sale
Published: 14:51
Thursday 19 August 2004
Updated: 13:29
HEARTS announced today they have struck a deal to sell their Tynecastle home to house-builders Cala for up to £22 million.
The debt-ridden club will play their games at Murrayfield next season after reaching an agreement to groundshare with the Scottish Rugby Union.
The deal was announced by chairman George Foulkes following months of negotiations with a series of property developers.
The sale of the club’s historic home has to be confirmed by a vote of shareholders on September 13.
However, the club warned today that without the cash injection which the sale will bring it risks sliding into administration by the middle of next month. Hearts are currently more than 19m in debt and will raise a guaranteed minimum of 20.5m from the sale of the famous ground, which has been the Jambos home for more than 100 years.
The figure of 22m relies on planning approval for any major housing development on the site.
Edinburgh-based Cala Homes will now enter into discussions with the city council over their plans to build hundreds of homes on the site.
The council has drawn up a blueprint which envisages homes, shops and offices being built on the six-acre site and surrounding land.
Hearts will now move to Scotland’s national rugby stadium while the search continues for a site for a permanent new home.
Insisting the deal has been done in the best interests of the club, Mr Foulkes said today: "In the current circumstances, I believe that the proposals we publish today are in the best interests of Hearts, its shareholders and supporters.
"The proposals have the unanimous support of the board. These are prudent and sensible actions which address two unavoidable truths - that Tynecastle is not presently commercially viable and that Hearts must agree the sale of the stadium now to ensure we have sufficient working capital to continue to trade.
"Our proposals include a condition which allows us to withdraw from the sale of Tynecastle before January 31st 2005 if a financially viable alternative is acceptable to us.
"If no preferred alternative is found by January 31st - and no-one should give supporters false hope that this is possible - the sale of Tynecastle on these terms and the ground share at Murrayfield offers Hearts the resources and further time to search for and develop a home which meets the expectations of our supporters."
A statement from the club revealed that, without confirmation that the selling process was underway, major creditor Halifax Bank of Scotland may have been unable to provide additional lending over and above the existing facility from September 13. The club will now hold an EGM on that date when shareholders will vote on the offer.
However, it was also confirmed there is a clause in the "disposal" agreement which allows Hearts to withdraw from any proposed sell-off on or before January 31 next year should circumstances permit. However, withdrawal would carry a financial penalty of 75,000 for the club.
The sale is unlikely to be finalised before next spring and cannot be concluded before January 31, 2005. Hearts said that any cash remaining after clearing debts would be used as working capital and towards development of a new stadium.
News of the deal between Hearts and Cala boosted the market value of the Gorgie club. Just before midday, shares in the club jumped almost 12 per cent to 33.5 pence, valuing the business at 4.23m.
Under the terms of the groundshare deal, Hearts will pay the SRU 20,000 per game, with the football club playing all its league, cup and European fixtures there.
The SRU was quick to lay out the welcome mat to Hearts and their fans’ while stressing minimum inconvenience for followers of the oval ball game.
SRU chief executive Phil Anderton said: "We are pleased to have concluded finally an agreement with Hearts that will see them play at Murrayfield subject to the approval of their shareholders. Today’s announcement is a perfect fit in our long term strategy to see our first class facilities at Murrayfield Stadium used as a platform for excellence across the leisure business enabling us to re-invest in Scottish Rugby.
"In the immediate future we look forward to welcoming Hearts and their supporters to Murrayfield for the Uefa Cup matches beginning next month."
An SRU spokesman added that "as much as possible" fixture clashes would be avoided at a time when Edinburgh Rugby as well as Scotland will operate at the ground.
Chief Executive Chris Robinson today welcomed the move, insisting it provided stability for the club, something which has been missing in recent years. He insisted he had no intention of resigning in the aftermath of today’s development.
"I do not feel it is incumbent on me to resign. The club has a strong future and I think it is a great deal for the club. This is an opportunity to take the club on to a different level."
However, those living near the famous rugby ground were not so happy at the prospect of floods of football fans regularly descending on the area.
David Daulby, secretary of Murrayfield Community Council, said: "This will not please local residents at all. It is a very quiet residential area. Football crowds coming through the area will not be appreciated. The rugby is only a few times a year, but this will be every two weeks."
In Gorgie, business leaders expressed fears about the impact on the area.
Mohammed Kabil, owner of the Liquor Licence Store on Gorgie Road, said: "We are really going to struggle without the fans. I have been here 24 years and my livelihood depends on the Hearts fans."
But the businessman at the centre of a radical plan to keep Hearts in Gorgie as part of a vision for the whole area said he remained optimistic that today’s announcement did not spell the end for his plans.
Peter McGrail said: "This is not a surprise. They said they would enter into a conditional agreement. What I would be interested in is what kind of penalties and conditions are involved."
Mr McGrail had proposed a 20,000-capacity sports stadium complex located on the site of the council’s roads depot in McLeod Street, with Tynecastle High School moving to land occupied by the present stadium and private housing built where the school currently stands.
Cala Homes said: "We appreciate the significance of Tynecastle Stadium to Hearts supporters and their strong emotional attachment to the ground.
"This is a commercial transaction, based on the club’s decision to seek offers for the ground. The scale and nature of the agreement relieves the immediate financial pressures on the club, allowing it to continue in business and we have agreed conditions which give Hearts some degree of flexibility should the club’s circumstances change."
Four-year search for a new home
HEARTS have spent the last four years searching for a solution for the club’s ground problem.
Options have included staying at Tynecastle, moving to a new stadium or ground-sharing.
In December 2000, chief executive Chris Robinson revealed to 500 shareholders at the club’s annual general meeting proposals to construct a new stadium
after the club detailed record losses of 3.7 million for the year 1999-2000.
In April 2003, the possibility of Hibs and Hearts sharing a new multi-purpose stadium was first mooted.
In June 2003, Hibs and Hearts confirmed they were in talks to share a new purpose-built stadium at Straiton with the land for a new stadium to be given for nothing in a deal involving Hibs owner Sir Tom Farmer.
But in September 2003 Mr Robinson confirmed he was in talks with the SRU over moving the club to Murrayfield. In October 2003, Hearts shareholders voted in favour of the Murrayfield switch - sparking major protests from Hearts fans.
In December, Heart of Midlothian Supporters Trust met with businessman Robert McGrail to discuss his proposed bid to buy Tynecastle but the proposal was rejected by Hearts.
Then in early January Mr McGrail’s brother, Peter, revealed a business plan which would see Tynecastle become the focal point of a new state-of-the art sports complex.
But the plan was rejected out-of-hand by Mr Robinson.
In February Hearts confirmed Murrayfield would be their new home for the next three seasons, but Peter McGrail claimed his plan was still viable.
In April Hearts got a new chairman, George Foulkes, who assured fans a move to Murrayfield would be a temporary measure.
https://www.scotsman.com/news-2-1501...sale-1-1017263
We will all see on the 3rd of March what it’s like to support the most forward thinking and most modern day football team in Scotland.
We will be left in the wake of a modern day genius who is miles ahead in ideas and techniques than any other manager in this country........ I burst out laughing at my break when this was spouted....o and deadly serious too!
I did say that I’m glad Hibs are not as forward thinking and as modern as they are because
1. They are bottom of the league
2. 17 points behind
We as a club are stuck in the age of Dinosaurs when it comes to football with our out dated stand and cowshed training facilities.
Superb stuff with more to come tomorrow at lunch.
I have chuckled at work all day (I’m a jealous peg selling hobo)
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[QUOTE=Ozyhibby;6089672]There was a court case where Skacel was sued by his agent for his share of the Skacel/Hearts contract. Skacel claimed he had done the deal himself and the agent was due nowt.
The interesting thing was the agent claimed he was due his 10% on a sum that was twice the amount on Skacel’s registered contract.
In other words there was a whack of cash going to Skacel , not on his contract and no tax no doubt.
They guy is a proper Duncan and cannot see what is staring him right in the face. I ask (everyday) when the single tiered wonder will be finished to be told great things take time... I mentioned that spurs finished a 66,0000 stadium in the time it’s taken to get this far but it’s not got a great an atmosphere (not kidding here) as the Tiny has!
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I would strongly argue that was not the case. Hearts broke football rules throughout the 2012/13 season. They repeatedly paid wages late & were "punished" by not being able to register new players (who they couldn't pay anyway) from October 2012. Throughout that 2012/13 season Hearts, mainly in the form of David Southern, lied to the footballing authorities that they were "self-sufficient". They deliberately waited until season end, June 2013, before going into administration & thus avoiding the 15 point penalty for 2012/13 & relegation. Their debts were incurred long before that date. If they had been relegated for the 2013/14 season & then had to play in the Championship while under administration their recent history would look very different. Of course the SPFL were complicit in the lie in that they never once inspected the books despite Hearts defaulting on wages (& lying about it) for several months during 2012/13 season.
Your other comments are mostly accurate but let's not deflect in any way from the magnitude of the footballing/financial crimes committed by our neighbours.
Serious question. Is there a more delusional fanbase in world football? I'm struggling to think of any.
Hearts are treated very differently as far as public authorities are concerned. I know for a fact that the day before their 'opening Main Stand' game, the emergency services were 'texted' the day (late evening) before (one individual being at an event and being informed around 5pm) and summoned to an emergency meeting to ensure the game went ahead and safety certificates were signed off. Every organisation pulled out the stops for them. I hasten to add, the said senior person I know (and I read the text he received) had no Hearts allegiance whatsoever and was quite rightly peed off at their (Hearts) ineptitude.
How their 'opening game' went ahead still astounds me but doesn't surprise me. Dare I say personal allegiances prevailed :cb
You reminded me of one of my favourite jambo fail moments, which was in the last game at Tynecastle before the old stand came down.
Hearts had been knocked out the league cup groups despite a draw v the pars
But competition rules meant hearts had to take part in the first ever meaningless penalty shoot out for the bonus point
Already out the cup, hardly any jambos even hit the target in the shoot out
Lots of Boooooooooo at the conclusion
Lovely stuff
No. Rangers fans are a bit like that but at least they're a big club. Hearts fans think Celtic are their main rivals while battling Hamilton for relegation. Call themselves "the famous" when their own manager had never heard of them. Have a smaller unfinished stadium and smaller crowds than their city rivals who are 17 points ahead of them in a transitional season. Rent a training ground. Celebrated a home draw with Aberdeen like a Champions League win. Haven't won the league cup for 60 years and are about to finish behind the so called "wee team" for the 3rd season in a row. Their delusion is almost an illness.
Where did "The Famous" stuff come from anyway?
I always remember a newspaper article around the time of their ‘troubles’ in 2013/14. I think it was written by Graham Spiers.
Spiers attended one of their desperate supporter gatherings at Tiny when they were trying to get out of the mess they put themselves in.
He wrote that one of the questions put to their administration hierarchy by a supporter was.........’The fans were unaware of the £30m debt and we cannot understand how it happened’. Incidentally this did not include the £30m ‘cash for shares’ ruse carried out by Romanov.
Spiers observed that there was a collective silence across the room when the question was put forward. There was absolutely no acknowledgement from any supporters of the overspend on players for the previous 15 years and the success they achieved because of it.
What a bunch of cheating clowns.
I agree with everything you say but the problem is that the rules were and still are too weak to deal with them. Everyone knew what was happening but the authorities were powerless to deal with them.
Hibs are part of the problem here. I have never heard us advocate to implement any kind of ffp regime once. We seem happy to miss out on cups and Euro places while everyone else plays the system.
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Right up to the last minute the Lithuanian creditors were open to fresh offers. So I think the Salmond story is hogwash. The reason they took the £2.25 million was it was made clear their would be no planning permission apart for a sports stadium. So Tynie was worthless.
Genuine question, how much cash do you reckon Hearts have completely blown in total since the turn of the millenium between Romanov’s crooked millions, the begging bowl years, millions of their fans own pocket money, Anne Budgie’s mystery benefactor and the unfinished stand bottomless money pit?
They were over £36million in debt when they sold Craig Gordon for £9million odd and had only cut that down to £29million when they went into admin several years later. And the stand has escalated to £22.5million alone.
Must be in excess of £100 million down the drain surely - all for the same number of major trophies as Hibs in that time, a couple of Champions League qualifying round games, and on the verge of a 2nd relegation. They’ve taken the word underachievement to another level.
Word for word. 👍
That’s why they won’t go down, they’re the spawnyest bunch of yokels the world has ever seen. The red card on Saturday just highlights that.
Why has the SPFL chief executive never been asked who the mystery benefactors are either? Surely the rest of the clubs should be aware of this and how their accounts get signed off - especially having past history of defrauding the league and business’?
The accounting buffs will be able to give something more definitive but a gift from a director must be disclosed otherwise not.
There must some documentation that it is not a loan or interest free loan.
The money will be treated as non operating income and will be accounted for in the pre-tax profits which is where the taxation will take place.
There is no tax on the donation itself.
They are either desperately stupid or lying of course.
By 2004, the debts owed by Scottish football clubs was a huge story. Hearts had agreed a deal to sell Tynecastle and play at murrayfield, saying it was the only way the club could survive.
But the Jambos didn’t want to know... and jumped at the offer Vlad made them.
Just curious, but were you complaining about us overspending to get out of the championship for three years? Had we not kept up our spending we probably wouldn’t have won the cup, which in turn has resulted in the upturn since then. Or going further back to the turn of the millennium when we were overspending to get out of division 1 and then get into Europe and to a Scottish cup final in 2001?
Apparently Boyce is struggling to make the bottom of the table clash tomorrow night. Have these fuds ever played an important game without someone being injured/ill/struggling/at death's door and then makes a remarkable recovery!? Hope they get smashed
Hibs would not have breached any FFP rules while in the championship. They are usually carried out over a 3 year period to allow for bumps in the road.
I’ve said before that hiring Sauzee, Latapy etc nearly bankrupted the club and was a mistake. Not a popular opinion but it’s my opinion anyway.
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On that one I think whilst you could argue that point, assumptions would have been made around incomes from Tv revenues no one could have foreseen the fallout of that - that would have been the edgecase worst case scenario so I don’t blame Petrie for that one - he certainly reigned it it after that. - although Scott Lindsay would go on to argue that we do/did back the managers (Yogi has Stokes, Miller to name but two we also had Jonatan Johansson - who scored nada despite pedigree !)
They were signed when TV revenue was at it's highest and more was expected. When the arse fell out of it losses and debt rocketed. Hibs were one of the first clubs to react with the likes of Paul Fenwick left sitting in the stand to avoid triggering an appearance related clause in his contract and players and management renegotiating their contracts and accepting wage cuts.
Other clubs were ttoo slow to react and suffered the consequences - the likes of Dundee, Livingston & Dunfermline went far more mental than Hibs spending-wise relative to their income/turnover without the TV money.
No it is not. I was involved in a late offer to the Lithuanian creditors and they were interested. It would have topped the Budge offer. They were clearly not acting under the then first ministers influence. Can remember all the shenanigans around planning permission and restrictions at Tynecastle at the time to indicate no planning permission would be given for housing or a supermarket.
AFAIK there is no planning reason why Tynecastle Park would have special protection under planning legislation. Hertz supporters and local and national politicians would have fought against redevelopment but I don’t think that refusal of planning consent for a suitable use could have been refused on the basis of the need to retain the football stadium. From a planning viewpoint a perfectly good alternative was available nearby at Murrayfield. The Lithuanians were probably led to believe that the stadium could not be redeveloped but a determined developer could have been successful in my view.
A note in their accounts states:
'Tax effect of income not taxable in determining taxable profit £347' (that's in thousands) and the comparative figure for the previous year was £363,000. That can only be in relation to the donations, so yes, they have avoided tax to the tune of £710,000 over the last two years through receiving 'non-business' income.
Some might say they are still at it now.
But would have suffered a lot of bad will and intimidation from half of the city. I don't think any developer would have wanted to take the risk of failure. Hearts would have been dead as the Lithuanian creditors would not have accepted the offer from the administrators and forced Hearts into liquidation. They would then have inherited the stadium and sold it to a developer. I don't think the developer would get a very warm reception from the council or half the city. Not good for PR or sales. Hearts would have to be reformed and work their way up the leagues.
It was not like the Pie Man's deal where the sale of Tynecastle was to save the club from bankruptcy and they could have continued as Hearts in the top league playing at Murrayfield.
My experience of developers is that few of them are shrinking violets. For the vast majority profit is what counts and they are happy to see off local opposition if there’s sufficient profit on the horizon. As Peevemor says above a developer or investment company would have bought the site, if need be leave it empty for a while then claim it was dangerous and have to have it demolished. Who knows the old stand might have mysteriously caught fire. Once it had gone the opposition would dissipate. It’s a script that has been played out many times. Meanwhile the value of the site would continue to rise.
Ffs people, this is totally off-topic and entirely pedantic but can we stop this craze of the wrong usage of 'There' and 'Their' - it's doing ma nut in ! Starting to make posters on 'Throw-back'/'moron-media' look semi-intelligent !
The Lithuanian company was in admin as well. There was only one firm offer on the table and that was from FOH and Budge. I can totally see why an administrator would take it. They are not in the property speculation game. Had they not taken it and then failed to get as much on the open market they could have opened themselves up to legal problems. When companies go into admin, assets get sold at knock down prices, that’s just a fact of life. The administrator is looking for cash quickly, first of all to make sure he gets paid. There were no other offers on the table for Tynecastle. That’s just a fact.
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So following on from yesterday’s discussion with the office Duncan, lunchtime today was a hoot.
High Press: well no other team in the league (possibly barring the ugly west coast sisters) have the squad or manager to make this work EXCEPT the Hearts. Their squad has been trained in this technique daily and they are all well versed at what to do no one can cope with the pace of the attack.
I asked why they were bottom of the league and I’m still laughing now at the response.... on paper yes but they are easily top 2 or 3 material with regards the football they play, the squad they have and of course their top German coach!
Now I kid you not this boy is deadly serious to the point he’s totally deluded and has been brainwashed to believe the hype.
He doesn’t get they are bottom of the league because they are utter dross and are in with a real chance of relegation. O no, not a chance, false position and once the benefactors splash the cash in the summer they will be challenging on all fronts... dear o dear!!
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I actually went onto their fans forum......jeez, talk about obessed, kid you not, Hibs must get mentioned at least every 5 posts......its incredible.
What is quite funny, anyone who suggests that Herr Daniel isnt doing a good job or dares to suggest that he should be sacked is immediately rounded upon as a Hibs fan......why would any Hibs fan want him sacked??? One win in the league......he can stay as long as he keeps that record up.
There are some real gems from that era.
They've certainly changed their minds a good few times re. the pros & cons of Tynie.
Hearts plan big cover-up
Thu 18 Dec 2003 12.35 GMTFirst published on Thu 18 Dec 2003 12.35 GMT
Hearts today revealed they will attempt to hide any empty seating should they move to Murrayfield.
The debt-ridden Edinburgh club are keen to sell their Tynecastle home and groundshare at Scotland's national rugby union stadium.
Such a plan has already been condemned by the Federation of Hearts Supporters' Clubs, who claim the move would "decimate" the Jambos' following.
But chief executive Chris Robinson is determined to plough ahead and Hearts have released a detailed document condemning Tynecastle as "not fit for purpose".
However Hearts' average home crowd of around 12,000 would be swallowed up by a stadium that can hold more than 67,000.
The club plans to use only the lower tiers and the document reveals that cosmetic attempts to hide the unused seating have also been formulated.
It reads: "Should the club move to Murrayfield, we would look at ways of masking or blanking out the top tiers so that the impression of the stadium is much smaller and more compact."
Although the need to wipe out debts of more than £17m is the main reason for the desire to leave Tynecastle, there are additional reasons.
The 17,000-capacity ground features stands that are close to the pitch and while that creates a good atmosphere, new Uefa guidelines state that the current playing surface is too small for future European competition.
The document added: "Tynecastle, ironically, is much-loved by those in football precisely because it does not meet the regulations.
"The steep stands and closeness to a small, tight pitch create a unique atmosphere.
"Whatever the outcome, it is clear that the playing arena dimensions required will always mean that wherever the stadium is located or occupied, that atmosphere can never be recreated."
Robinson came under fire from former director Leslie Deans in recent weeks, with the latter urging fans to start a campaign to stay at Tynecastle.
But Hearts have argued that improvements would be just too expensive, and Robinson believes Murrayfield represents the best solution.
"Murrayfield has everything that can deliver viability to Hearts' business plan - corporate boxes, car parking, corporate facilities, space for perimeter advertising, seating without limited sight lines or restricted views, opportunities for licensed facilities," he said.
"Clearly it also has a significantly increased capacity. Many of the largest businesses in the world do not own their assets, but simply lease, rent or have arrangements to utilise them."
https://www.theguardian.com/football...wsstory.sport4
Nope .....but then what are they going to discuss?? How far ahead we are of them, how our stadium is bigger, crowds are bigger, how we have finished above them for 2 seasoms and now 3 times in a row, how we are challenging for Europe.......
I guarantee if we were in their position.....they wpuld have a 500 page thread on it....
But if you think we are more obessed......crack on.
Ask him if he's interested in a couple of grands worth of Vlad's special shares from that cash only issue I could do with a holiday so can let him have some if he's quick.
I've got a £4000 plastic owl he could have for £3999.99 if he's quick. Apparently it's the brother of the famous tiny castle one.
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Edinburgh is a cosmopolitan city. It’s the countries capital and internationally renowned. It doesn’t revolve round football. There would be literally dozens of developers that would have taken the land without batting an eyelid and would have seen any bad will as negligible.