Beacuse I suspect he doesn't have the dosh. He's reportedly offered £1m per year for 15 years. This would be payed by newyam renting the stadium (even if he was eventually to also buy the FC).Quote:
Originally Posted by Onion
Printable View
Beacuse I suspect he doesn't have the dosh. He's reportedly offered £1m per year for 15 years. This would be payed by newyam renting the stadium (even if he was eventually to also buy the FC).Quote:
Originally Posted by Onion
Now Shoeless Bob returns.
Need Massone for the mad house treble.
Latest from JKBmeltdown
Quote:
@JKBmeltdown: Any word from Sergey/Baj yet?
It does if you are a Lith creditor.Quote:
Originally Posted by bingo70
Has anybody asked Tom Engish ?Quote:
Originally Posted by robinp
He could be working for Budgie to soften up the yams for the big LQuote:
Originally Posted by Hibby70
BrilliantQuote:
Originally Posted by peter douglas
So before this development the only alternative to accepting this joke CVA was being left with a piece of land with scare stories attached.Quote:
Originally Posted by #FromTheCapital
Now there are other offers surely this totally weakens any position FOH and BDO have weaseled their way into.
Delays and liquidation surely loom.
Better start getting those DD's refunded...............
Yep this is gonna get messy :agree:Quote:
Originally Posted by Mikey
How much do we think the admin fee will turn out to be?Quote:
Originally Posted by Mikey
Heard it was 25%. Someone somewhere makes a few quid :)Quote:
Originally Posted by matty_f
51 percent.Quote:
Originally Posted by matty_f
So let me get this right- one of the new bids is £3m but it'll only be made if Budge fails on 2.5m
Why on earth would they now accept 2.5m if 3m is now in the public domain?
Maybe he is just offering 15million hoping to occupy Ukio and UBIG for another week or two and 'rupt the Yams. :greengrinQuote:
Originally Posted by Onion
From sickbag:
"We are all a pleasant bunch on JKB"
"Does munro even exist or is he a bajillions/sergay type fantasy"
I would make a sarcastic comment if I could think of anything funnier!
I thought it was 7.0% which was 6.2% plus expenses.Quote:
Originally Posted by Antwerphibs
It comes down to how well Jackson can persuade the Liths that these late offers are pie in the sky.Quote:
Originally Posted by The Governor
If I was Lithuanian I'd be tempted to explore them further. All this noise and scrambling around at the last minute certainly doesn't help BDO's story that the land is worthless and £2.5m is as good as it gets.
Nah, it'll be scottish cup related so that they don't throw a fit whilst they get fleeced. May be 19.02 percent for top bantz.Quote:
Originally Posted by GreenLake
Suppose the admins could accept the cva and investigate the other bids during the cooling off period.
Bumping them at that late stage would be akin to St Senddown scoring two in the final couple of minutes. Hilarious.
Quote:
Originally Posted by matty_f
They can't. FOH need the nod today to enable them to dip into the money already collected and start selling STs - they can only do this if they're sure the deal will go through (including getting the stadium).
I doubt a change of mind would be sufficient reason. From a Lithuanian point of view why even touch the CVA today when there's these other offers.Quote:
Originally Posted by matty_f
And I think we now know why BJ is over there. He must have known about these other bids and I suspect will be telling anyone who will listen to ignore them.
£1million in rent isn't going to leave much for paying the team and they still have the Riccarton rent to pay too. Pat should also make them pay back a sizable fee for the club and loot the FOH funds. After stripping their assets and bleeding them dry, let them have their club and compete somewhere in the West of Edinburgh Pub Sunday Leagues. That would still be a fraction of a punishment for their crimes.
So...... They deid yet? Wish they would just put the squealing animal to sleep. #inhumane
GGTTH
Does anybody else think this last minute 'development' is a load of Tom Kite designed to steal BDO's thunder on D day? The Liths won't be around for 15 years anyway to pick up the spoils.
What time is the coffin getting lowered?
its all we need/want to know
Jim, I agree. we've been told often enough that the Admins "job" is to get a much money as possible as soon as possible.Quote:
Originally Posted by Jim44
wierd :agree:
Brilliant :top marksQuote:
Originally Posted by Dashing Bob S
But hold on ..... the rotund linesman on the far side who used to be a commercial lawyer in London is flagging for "crimes of tortious interference in the box".
But it must be making them think that there is a damn sight more than £2.5m available if they go to an open sale.Quote:
Originally Posted by Just Alf
:tee hee:would love to be the one to pull the trigger! However, whatever the outcome of today there will be more squirming, thrapping about and agony:top marksQuote:
Originally Posted by Phil the Hibby
Have they arrested those responsible for selling Tynecastle High School for a pittance yet?
Presumably Shoeless Bob and Hapless Pat are positioning their bids for a liquidation scenario, ie this is what you could get if you reject the CVA.
As an aside whilst £15m is a big headline number it is £1m every year for 15 per the Scotsman. If I can recall some net present value maths from back in the day, £15m over 15 years is worth nothing like £15m today as a lump sum.
I did a quick calculation of the NPV of 15m over 15 years and using discount rates of 5%,10%,15% (take your pic) todays value of £15m is £10.9m, £8.4m or £6.7m. Certainly not £15m but also still a multiple of £2.5m and surely worth the Liths investigating further as others have said.
Today has a bit of a transfer deadline day feel to it.
True but as we are heading for a period of deflation, or at the least very low inflation, it could be not far off the mark.Quote:
Originally Posted by ano hibby
"Both Pat Munro and Bob Jamieson have claimed to be bidders for ownership of Hearts before and nothing materialised. Seem like spoilers."
Old George tweeting direct from.... wait for it.... Tunisia????? Did your plane take a wrong turning, George?
http://www.scotsman.com/sport/footba...-bid-1-3367638 :confused:
EDINBURGH-based businessman Pat Munro has made a late bid for Hearts, it has been announced.
Munro, who owns a plumbing business, has offered the Tynecastle club’s major shareholders - Ukio Bankas and UBIG - £15 million for the club, over a 15-year period in exchange for their joint 80 per cent shareholding.
He also wants ownership of the stadium, currently held by Ukio Bankas - at the end of that time period.
Munro has failed in the past with a number of attempts to take over Hearts, but administrators BDO and supporters group Foundation of Hearts are concerned at the impact the late bid will have in Lithuania.
Ukio Bankas and UBIG are in administration, with their creditors meeting in Lithuania today. A vote is expected on transferring shares in Hearts to prospective owner Ann Budge, but the club’s administrators fear Munro’s 11th-hour offer may delay things further.
It was revealed in March that Hearts have enough funding to last until the end of April, and a delay could be catastrophic for the Jambos.
Bryan Jackson, the administrator in charge at Tynecastle, has made it clear that the club will be liquidated if a company voluntary arrangement (CVA) worth £2.5 million agreed last November is not finalised in the next few weeks.
That as maybe but irrespective, a bid from a plumber for a football club over a 15 year period will need to be discounted at a pretty healthy rate.Quote:
Originally Posted by Weststandwanab
Correct. Time to put all this timewasting to bed. I have bought a new black tie for this, so it had better be put to use!Quote:
Originally Posted by Hibernia Na Eir
Regardless of who gets the approval to receive the shares...they will still be frozen and only the courts can defrost them.
My sperm count has took a good few hits the last 2 days, I don't no if I'll get through today. So much pleasure.
I thought that this 'frozen' issue was declared a red herring last week.Quote:
Originally Posted by Hibby Kay-Yay
No the Liths need as much distraction as possible.Quote:
Originally Posted by ano hibby
Keep the faith the big L is coming.
I don't think it was. I thought they were still in deep freeze.Quote:
Originally Posted by Jim44
he was my old next door neighbour quite a sound blokeQuote:
Originally Posted by H18sry
Any chance it could be after 12? Dinnae really want to get caught opening a rare malt on a monday morning:-)Quote:
Originally Posted by Weststandwanab
Announced where?Quote:
Originally Posted by H18sry
It's after 12 where I am at the moment. Very tempting to have a wee snifter right now.Quote:
Originally Posted by Bostonhibby
Quote:
Originally Posted by Onion
I don't know but I suspect it is because he doesn't have the money thus paying small chunks over many years. If that is the reason I is good news as they will have to live well within their means.
I think it would have to be as neither would involve fan ownership (#notcreatinghistory) so that would rule out FoH money to complete the season.Quote:
Originally Posted by ano hibby
I do not think it will actually happen until after the last league game has been played.Quote:
Originally Posted by Bostonhibby
However, BDO may well throw in the towel before then and as quickly as later today.
If the news goes the way I expect today I will be having at least one irrespective of the time.Quote:
Originally Posted by CyberSauzee
After Raith's triumph yesterday & today's news, the new song for the Yams must surely be;
Oh no, no, no, f****** Paddy Munro!! :greengrin
[QUOTE=Weststandwanab;3960075]I do not think it will actually happen until after the last league game has been played.
However, BDO may well throw in the towel before then and as quickly as later today.
If the news goes the way I expect today I will be having at least one irrespective of the time.
Me too, & maybe a drink as well!! :wink:
Always thought today would lead to just another delay by BDO supported by FOH funds, but with another offer on the table they are screwed. It will take time for the Liths to assess any new offer and Budgie/ FOH will not want to shore up the club while this happens.
IMHO this is make or break today. If CVA not a approved I think BDO will go straight to Big L.
Good enough for me thanks!Quote:
Originally Posted by Weststandwanab
BBCBMcLauchlin @BBCBMcLauchlin 26s
Majority of UBIG creditors vote in favour of accepting deal for shares in Hearts.#bbcsportscot :grr:
Hang on - Ukio haven't agreed anything yet :greengrinQuote:
Originally Posted by H18sry
£1-5 million for the Hearts - oh the irony...
No real surprise here, there's still more to come though. What's the state of play with ukio?Quote:
Originally Posted by H18sry
Is that it over then?Quote:
Originally Posted by H18sry
Quote:
Originally Posted by H18sry
Shares The Frozen Are
Absolutely . Ukio are big players in this shamblesQuote:
Originally Posted by jonty
"It looks like it could now go all the way the freezer test - the penalty shoot-out of corrupt football shenanigans."
My money is on them getting out this mess now. Either way they are finished as the Hearts we all know and hate. They will be a poor side for years to come and may never fully recover from this.
Foundation of Hearts @The_FOH 5m
@BBCBMcLauchlin is in Lithuania so breaking news that UBIG have agreed share transfer deal. We are half way there...
This is meaningless. Theyre getting £50 or £100k for shares which on paper are worthless ( patent CWG :wink: ). Its UKIO which matters.Quote:
Originally Posted by H18sry
No, Ukio are the ones who have to accept the £2.5mQuote:
Originally Posted by Hermit Crab
what does this mean i thought it was the other lot ukio bank that were they main player and they have not accepted anything yetQuote:
Originally Posted by H18sry
Ok cheers. They will though. Deep down you just know. Queue a flurry of strongly worded emails to the union admins.Quote:
Originally Posted by MacBean
No poop sherlock :greengrinQuote:
Originally Posted by Golden Fleece
But people still want to know what is happening at todays meeting :rolleyes:
FOH getting there info from a BBC twitter feed and not Brian Jackson:greengrinQuote:
Originally Posted by H18sry
Ukio will ok the deal.
It's down to the freezer test now.
@JamboSteven 5m
@jamiekborthwick when do we expect to here from UKIO?
Reply Retweet Favorite More Expand
@ConnorRoss17 5m
@jamiekborthwick when will that decision be made?
Reply Retweet Favorite More Expand
@IainVeitch1 4m
@jamiekborthwick do we find that out today?
Reply Retweet Favorite More Expand
Jamie Borthwick @jamiekborthwick 3m
@IainVeitch1 Yes.
Reply Retweet Favorite More Expand
Jamie Borthwick @jamiekborthwick 3m
@ConnorRoss17 Later today.
Really?
As a wise man once said :greengrin :
Step 1: Ubig have to approve
Step 2: Ukio have to approve
Step 3: Lithuanian courts have to unfreeze the shares that are part of an ongoing fraud investigation.
Steps 1 and 2 were always seen as going to happen.
Meantime, hearts have been relegated, playing youngsters that they can barely afford to pay, have a shambles of stand in need of maintenance and no-one willing to throw money at them any more. In short, they're a young squad about to be battered in the championship (if they're lucky). And still in administration.
I want them dead! I bet the Yams get away with this, what time will we know?
With you on this, only liquidation will please me!Quote:
Originally Posted by jakeshibs
They haven't got away with anything.Quote:
Originally Posted by jakeshibs
they're relegated, skint, in administration and no line of credit. In short, Donald ducked.
The icing on the cake would be Tynie taken away and liquidation forced, but they'll still be around.
Even if the big L happens they won't die, well technically they will for a few seconds, but they will resurrect as zombie Hearts. I think if them as a butterfly turning into a caterpillar.Quote:
Originally Posted by jakeshibs
[QUOTE=brog;3960080]Oh you are awful...Quote:
Originally Posted by Weststandwanab
You are welcomeQuote:
Originally Posted by Bostonhibby
Even if that is true two more hurdles to go.Quote:
Originally Posted by H18sry
No.Quote:
Originally Posted by Hermit Crab
This except more along the toad and tadpole line.Quote:
Originally Posted by Dashing Bob S
Interesting FOH tweeting "were half way there"what about the MOU?
Surely that would mean the other half is in the bag?:confused:
No matter what,the spin will continue and the yams will follow.
Did UKIO not agree in principal to the deal with Budge before this meeting today?Quote:
Originally Posted by Glesgahibby
Ukio will go through without a hitch, imho.Quote:
Originally Posted by Glesgahibby
Yes that's a far better analogy.Quote:
Originally Posted by Bishop Hibee
Could be wrong but I have a wee sneaky feeling another delay is on the cards:aok:Quote:
Originally Posted by matty_f
Someone get me a line to LithuaniaQuote:
Originally Posted by Glesgahibby
Ukio is the main obstacle, but this is what Admonis said last Monday.Quote:
Originally Posted by itslegaltender
http://www.dailymail.co.uk/sport/foo...ls-Hearts.html
Still think they'll slither out though:rolleyes:Quote:
Reports persist that Sialiu Bankas, who took over Ukio’s operations, have concerns over the deal on the table for Hearts.
But Admonis added: ‘As far as I’m aware, there is no objection to the deal being expressed by the creditors of Ukio bank.’
Aye but a plumber just chapped the door while they were on the phone to a shoe salesman:wink:Quote:
Originally Posted by itslegaltender
**** them. Hope the worst thing that could happen to them today actually does happen.
I am not sure about that.Quote:
Originally Posted by matty_f
I think you may be correct.Quote:
Originally Posted by Glesgahibby
Where's our experts today ?
Sergey is sailing in the English Chanel and unfortunately can't get on the forum. No idea where bajillions is.Quote:
Originally Posted by hibbymick
Sorry everyone, but I've always had this feeling deep down that they would get out of this one way or another. It just seems too good to be true that they will go into liquidation. If things go their way expect them to go ballistic. They will be unbearable. More so than ever. Hope I'm wrong.
Maybe they know the outcome is not good.Quote:
Originally Posted by Hermit Crab
Sailing in the English Channel :tee hee:Quote:
Originally Posted by Hermit Crab
More like a floating gin palace with not a sail in sight !.Quote:
Originally Posted by Mikey
A day out with Vlad in his Submarine.Quote:
Originally Posted by Mikey
Quote:
Originally Posted by emerald green
- they have been relegated
- their budget will be severely constricted
- They have no base of a squad
- Their stadium and infrastructure is decrepit and in need of rebuilding.
let them enjoy their "staying alive" party.
So what are we clinging on to is there anything I feel like slittingQuote:
Originally Posted by Mikey
my wrists
Thought they already had provisionally agreed the CVA subject to the shares issue being dealt with? :confused:Quote:
Originally Posted by MacBean
Not like Barry to get basic facts wrong:-Quote:
Originally Posted by Hermit Crab
Munro, who runs a plumbing business, has offered £15m over a 15-year period in exchange for the 80 per cent shareholding held by Ukio Bankas and UBIG. He also wants ownership of Tynecastle Stadium – currently held by Ukio – at the end of the 15 years.
:rolleyes:
Relegated is a small price to pay for the money they've been able to write off, and the Scottish cups they've won, in my opinion like.Quote:
Originally Posted by itslegaltender
Their budget has been severely constricted this season, and they managed to beat us 3 ****ing times!
Dunno what you mean about them having no base of a squad?
Their stadium has needed rebuilt for god knows how long. I dont expect they'll be forced to do anything about that though, so it's not really a big deal.
Undercover over on masorechocalatestarfishisback# :greengrinQuote:
Originally Posted by hibbymick
It's a bit like the transfer window without Jim White.Quote:
Originally Posted by hibbymick