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Oh come on; Sergey claimed to be in the know, latterly in fact to have been orchestrating the whole process. And whenever real-life events failed to cohere with his master plan, he mysteriously just happened to be "sailing" or otherwise incommunicado. Nothing more than an attention-seeking fantasist.
With respect ............. why are you blaming guys on our forum ???? They tried to get info for people on here , alot of it turned out to be correct . And a lot of it was said to debate on which it was . No one lead anyone a merry dance and you post suggests that you were lead to doing some sort of weird merry dance due to some posts and are really annoyed at sergey and others that you were dancing .................
Ok, with respect...... where do I say I'm blaming anybody? And what am I blaming said folk with?
The rest is , a cool story.
Game playing and wind up more accurate I think but give him the right of reply , till that last twist he wasn't far off the mark .yes he thought des santos was a fraud but turned out he was the one in the know for that last twist but surely we can forgive him for that .:wink:
Would be interesting to here from our Chairman on the issue of Sporting Integrity .Sevco in hindsight were thrown to the Wolves and everyone was baying for blood and they were hit every which way .I know liquidation meant the penalties had to be more severe but from an objective stance forgetting they are our rivals it does seem that they have had sympathy from the start and the fact it was a foreign owner seems to have resulted in poor wee hearts that criminal was corrupt and it's all his fault and not there's .
We still don't know how this is going to leave them financially ie assume they still can't sign up players till officially come out of admin but no doubt deals with current players to resign will start and they will start putting feelers out for new players .
Will there be scrutiny of thier finances and checks and balances put in place to ensure they aren't cheating again right at outset .Well the answer from Sevco s current situation is clearly No .That is the stark sad Truth of the matter and goes back to the crux of any Principled Stance on the Issue of Sporting Integrity as to me that's been lost sight of .
If they come back up in one season and straight into top six then you would be able to say they had in fact benefited after one difficult year Not sure there isn't more to come as there will no doubt be a willingness but all the Hearts minded Politicians who came to their rescue to help them with new ground and council funding and eases of planning permission to assist etc .
So we need to keep these issues alive and be the ones to remind them they are Dirty Cheating *******s ,starting with next Derby .If we let them away with this we are letting ourselves down .
No one else seems to be bothering so like the Liverpool campaign Justice For The 96 we need to keep reminding them of it Some might see that as Sour Grapes but the history of our club shows we were discriminated against and had to fight for survival .read Alan Lugtons books on our early history .
Will they be stripped of cups won when cheating ,not a chance .
Let's now move on to the next Derby game and ensure we are right behind our Team and hopefully our players can do the talking on the Pitch to send them on there way down with a defeat :flag:
My lack of posting is mainly due to other matters such as a bunch of clueless and classless morons trying to figure out who I am, getting it wrong but abusing the guy anyway.
Having caught up with the thread frankly I'm embarrassed by the behaviour and attitude of some.
My info is that the deal has been done. It likely will not be held up by frozen shares. My info is also that they will not be spending big nor will they have any more money. Whilst Budge is in control Hearts will be run very carefully because she can't risk losing her money.
All I've done throughout is give the info from within Tynecastle. Even BDO didn't know the final outcome I can only report what I'm being told.
There was no chance whatsoever of them ever just "disappearing" if the company was liquidated. They would re-emerge in some form.
The reason most right-minded people are brassed off is that they've managed to shed £25-30M of debt at a cost of .... relegation by 1 league. That's it. IMHO that is an absolute bargain. Other relegated teams get nothing. In the Yams case, it's like a parachute payment. Even the Huns paid 3 years in the lower leagues to lose their debt.
Seriously, there is nothing in this to discourage other football clubs from following the same unethical, ruinous path. Uncomfortable but in the end really, pretty painless.
A few points:-
1. Hearts were actually "punished" more than Rangers were. 15 points vs. 10. Everything else that happened to Rangers was as a direct result of their liquidation. ie commercial consequences.
2. "Will there be scrutiny of thier finances and checks and balances put in place to ensure they aren't cheating again right at outset". How do you define "cheating"? If, by that, you mean overspending as in Rangers case, they will be found out commercially pretty quickly. Other than that, the SFA are adopting the FFP regulations in due course.
3. "all the Hearts minded Politicians who came to their rescue to help them with new ground and council funding and eases of planning permission to assist " Not sure what you mean by this.
Sergey is genuine. I am not Sergey by the way. De Santos also right on how Ukio's problems would spill over into Hearts and alerted people to that via Bloomberg stories and also was on the money trail with fully referenced real size of debt. Still yesterday's events in Lith are shrouded in mystery and not transparent or possibly constitutional as far as creditors are concerned. Was there a meeting of creditors? Seems like a creditors committee acting on behalf of all the creditors and the fact that Ukio administrator announced via an email. Also caught BDO on the hop. More to come out of this and may not be over yet as far as all Ukio’s creditors are concerned.
Cheers Bajillions.
And for any of the balloons looking in who have contributed towards the hassle Bajillions has endured over the last week, well done to you, you must be really proud of yourselves. :rolleyes: Hows about concentrating on helping saving your pathetic little football team rather than giving it GIRFUY to Hibs and their supporters eh? Morons.
I dot think people have been directing it you, more Sergey. I think his latter posts where he was making out he was heavily involved with bringing hearts down and ripping into desantos, who was actually proved kind of right in the end is what have irked people.
I dont think Sergey misled us, not intentionally anyway. I just think he got caught up in it all and Mis read some of the goings in towards the end. When he started quoting kickback people and trying to wind them up from here I think it was starting to get out of hand, in the end, because people were gettin involved, things started moving discreetly in the background in lith land because there were so many leaks.
1) I did allude to Sevco being different because of liquidation but the general outcry from supporters of other clubs put chairmen in position they were having to take hard line against Sevco ..It seems to me that with Hearts no one else seems that bothered about situation apart from us .
2) do these FFP regulations deter clubs from overspending and does it make it more difficult to do this as without that then the moral of current story appears to be you can overspend and win things .Take a few years out and start again . I may be being simplistic in this but what's to stop budge once in control bringing others on to the board who are willing to invest new money and who she could sell the club onto Assume there is nothing legally Binding about the club handing over to a Supporters to own ,that could be jettisoned further down the line when it suits her
3) was looking ahead to what might happen as there has been talk of Tynie being sold and move to new stadium and folk were saying there may be the political will to help out Some form of community owned sporting resource and Hearts play their football there a Remember a while back the hibs board came out and were saying that the council seemed willing to explore helping hearts look to relocate to new stadium after we had completed Easter road and paid for it ourselves .
Or maybe I am in danger of sour grapes and am on the wrong track looking for conspiracy theories
Brian Jackson looked like the cat who got the cream on TV last night .Went as far to say he was 90 percent sure it would go through with a few obstacles to go so you have to assume they have a plan already in motion to overcome those obstacles .so while not all done and dusted and rubber stamped etc it sounds as good as unless someone puts another fly in the ointment .:wink:
Pishy Breeks Speaks... http://www.bbc.co.uk/sport/0/football/27062505
"Now" Sharts are in the right hands... Where have I heard that before... :cb
Dundee Utd and Aberdeen also widly overspent but came to an arrangement with their banks to wipe out a large part of their debt to them. The looser again will be Joe Public as he/she have to face higher charges to make good that shortfall. Again all the press did was offer congratulations on a job well done. Seems only the good guys get shafted and i, for one, am sick of it.
Completely different circumstances. Motherwell went into administration and didn't even get relegated.
http://i1.wp.com/theminorityreport.c...e-facepalm.jpg
Exactly. I made myself pretty unpopular with some on the Sevco thread when I expressed the view that the desire to see Rangers disappear was very little to do with sporting integrity and much more to do with seeing a much disliked rival suffer. ( I ain't saying that's wrong. :greengrin) The Hearts case would tend to suggest I was right. Only Hibs fans are as bothered about this as the rest of Scottish football was about Rangers but Hearts have committed the same 'crime.'
Hearts have been punished heavily. The signing restrictions and points deduction effectively relegated them before a ball was kicked this season. We shouldn't let ourselves be blinded by disappointment that they haven't suffered an even worse fate. Liquidation or not, they were never going to disappear totally. Personally I would miss the Derby anyway, for me it is what being a football fan is all about. This thread has been fun but it looks like the game is nearly over. I'd rather look forward now.
Everythings gone a bit haywire since yesterday. People exploding into two different folk n stuff.it's been fun. I'll miss this thread.
Glad you put punished in inverted commas. You will not find a Hearts supporter anywhere who did not think the Romanov era was worth it. Yet again a football administration has proven to be a useful business tool to shed massive debt and prove itself the great swindle that it truly is.
What is source for that since we don't even know if there was creditors meeting or if there is a cooling off period? We are all a bit in the dark on what has or has not happened in Lith. Bloomberg only have an email from the Ukio administrator, nothing else.
The source is Bryan Jackson.
I tend to believe him; his interview yesterday was very enlightening. He is firmly of the opinion that UKIO cannot go back on their decision. In his own words, that is because they have a creditors committee. Not sure what exactly he meant by that, but I have no reason to disbelieve him.
Sergey has been pretty much correct throughout & I believe he will be vindicated that there was no meeting scheduled for yesterday. I also doubt very much that any meeting actually took place, rather the deal was agreed by phone/email or whatever. Remember UKIO were only ratifying what had already been provisionally agreed at the meeting of creditors. I should declare an interest in that I have known S for far too many years & I can confirm he's not Bajillions or anyone else on this forum. Re Bajillions, his posts have been wonderful, keeping us informed as to what was going on at PBS throughout & again I believe in time he will be seen to have been 100% accurate.
Desantos/Sanger is another matter. He changed his mind more often than I change my shorts but incredibly, & unfortunately, he came up with an email from the Lith lawyers which turned out to be accurate. To all these guys & CWG, GG, Cav etc I say thanks for a hugely entertaining 10 months which has helped deflect attention from events on the pitch at ER.
PS, just to upset CWG one last time DR headline today says UB agree to sell - - to Budge! This could actually bite Yams on bum as I can see a lot of DD's being cancelled now a multi-millionaire is in charge.
Have i missed something? I thought there was a 'big announcement' today? :coffee:
Perhaps someone has hacked into Desantos details. Changed the username and password and now the real Desantos cannot get on to post anything? Desantos did come up with important knowledge late on.
I cant believe some folk actually thought they wud get liquidated they are jammy f#ckers and were always gonna scrap by and not get liquidated but its gonna be a hard few years for them
:agree: from me too. I'm grateful to the accountancy folks who have been helping us understand the process along the way, and to Bajillions for his input from his source behind the scenes at the Wongadome, and to GG for his tireless information hunting!. It's been an interesting year (and very entertaining, in parts), and hopefully there will be more fun to come.
Staggering that this drunken slavering hypocrite can extol the virtue of his part in bringing Romanov to Hearts and the glory of 2 Scottish cups whilst not mentioning he brought the club to within a hair's breadth of extinction. Then to claim that Hearts fan ownership will be the example for other clubs to envy and follow without mentioning to get to that position you have to jettison millions of debt by stiffing people for the money they are due.
Breath taking self righteousness and hypocricy.
No-one else bothered because, unlike what the 'Pink scarf-twirlers', for some reason actually believe, they're NOT a 'big team' - the only 'big' thing about them is their mouths, heads, debts etc. We'll see how long their belief in themselves lasts after a season or two of playing within their means for the first time in 30+ years - for many the culture-shock will be too much !
This from the EN today
Diehard fanatic Cllr Eric Milligan, one of Edinburgh’s longest-serving politicians who represents Gorgie at City Chambers, said Hearts chairwoman elect Ann Budge may someday become “the Joan of Arc of Heart of Midlothian”.He said: “It could be the start of a new dawn for Hearts but there is still much to be done. Hearts have a history that stands comparison with any club in the world – never mind Scotland. I have always felt Hearts should be owned and controlled by people that have the welfare of the city at their heart.
Welfare of the city at heart ! it would make you puke, the hypocrisy of the "establishment" is there for all to see.
Everyone is talking as if what's happened to Hearts has not been good. They are in the 1st Div ffs.
They have no money and their player budget has dropped to a third of ours. The fans have to hand over £6.3m to get control of the club and they still have to fund the rebuild of Tynecastle.
Since the money tap has been turned off they have only just matched a really crap Hibs team in the Derbies and they have finished below us in the league both seasons. They'll finish below us for a third year on the trot next year. When was the last time this happened?
Their success in the last 30 years was based on being able and willing to outbid us for players consistently with other people money. That is no longer an option for them.
Hopefully Butcher sorts us out in the summer and we can start to enjoy our superiority.
Did anyone else expect them to react any differently? You only need to look at the lack of apologies from Sevco for a precedent. Loads of backslapping about how they dodged a bullet and stiffed the creditors . However let's see if their self owned club ever materialises or if a couple of years in the Championship kills their appetites for that. How long before they are screaming for Budge or someone else to pump millions into their club as per Sevco. ****ersQuote:
Originally Posted by gr72867
Apart from when he said there was no way whatsoever, that UKIO/UBIG would accept the CVA. Never ever ever ever. Which is the main crux of the whole matter, and although he was right about there not being a creidtors meeting, it didn't really matter in the end did it?
How would you like your stake, Joan....I mean, Anne?
http://www.edinburghnews.scotsman.co...aved-1-3379492
Councillor Milligan also states........."this is just start of the process of rebuilding Hearts, we need to look at the stadium and what the realistic *ambitions are for the club.” Who is WE?
Also check out comment 3, apparently nobody was cheted out of money it's just normal business losses in administration.
More from the EN or should it be called the evening jambo ?
http://www.edinburghnews.scotsman.co...saga-1-3379498
It would seem they only got this through by telling the Liths that this was the best deal also Salmonds murky hand in the matter.
I'm just waiting on the "we'll win the champions league within 10 years" story.
Whats the odds on admin2 coming soon?
“Hearts will become the biggest fan-owned club in the country which I think is a great step forward and other clubs like Kilmarnock and Rangers are looking at us with envy."
Did Kilmarnock not just come to some deal to help clear their debt?
****in' fat pishy prick
By stealing tens of millions of other peoples money and paying for a team they couldnae afford with it. Still nae remorse or contrition from any of these ****bags, just gloating about what they've done while shafting others.Quote:
"We won the Scottish Cup twice,
I notice the thread title has been changed to remove chat about frozen shares, why? Does this not apply anymore?
the deal is done; Fat Salmond intervened and saved them.
Sergey was right all along that UKIO/UBIG were not really happy and willing to accept; Clearly they've been forced too. (which ties in with the sudden acceptance and no apparent meetings).
Politics and Football eh ?
By the by... I would advise not even looking at an "Evening Jambo" tonight..
Attachment 12441
What's all this? I just logged on and swallowed hard when I saw the thread title! Have those ***** received a last minute pardon from execution?
Don't tell me they're going to escape with just a relegation. Please don't!
I too am concerned that this potential Titanic sinking iceberg seems to have melted to a pile of slush. Was very much looking forward to the frozen shares test. Like the CVA creditors meeting, it seems to have been circumvented by deals struck behind closed doors. Perhaps it was always thus, and this is the sad lesson of this sordid little affair.
Still:
-relegation
-working within a reduced budget
-more farce ahead as FOH try to get the club from BIDCO
-more farce as FOH try to run it
-and still having them around for a derby
-potential for club to further discredited as case against UBIG unravels
Is not a bad haul.
Some astonishing quotes on there!
1. They believed a deal with the Lithuanians was all but dead as late as last week; This 100% confirms Bajillions information was accurate.
2. BDO go-betweens were tasked with persuading creditors that the deal was “best value” and a fair price for the club and assets. Uncertainty tainted the negotiations right up until the deal was signed and it is believed “rogue Hibs fans” had been “a distracting” influence by “writing directly” to the Lithuanians accusing BDO of fraud and suggesting assets had been heavily undervalued.A source said: “That was difficult because, unfortunately, it was taken seriously. It was a nuisance value because BDO had to answer those things and even had to find out who were writing them.”
This last statement is incredible & if true could land BDO in trouble.
3. But the News has been told UBIG’s main creditor had flatly refused the deal initially and had to be persuaded with pressure from UK Ambassador to Lithuania David Hunt.
Hopefully that creditor, presumably Siaulius, may still query the deal before April 27.
When PBS is sold for £10m in a few years I hope the Liths declare war on Gorgie! :greengrin
Dundee United and Aberdeen didn't 'wildly overspend' - their debts are/were a small fraction of the amount HoMFC (IA&R) failed to pay back to their creditors over the years. In stark contrast to Hearts and Rangers, United and Aberdeen have managed their finances responsibly and honourably - that includes negotiating an early settlement discount with their banks when they were able to make better financing arrangements.
As far as the banks are concerned they've got money in now instead of possibly years hence and possibly never. No doubt Rangers and Hearts disgracing themselves had an influence on the deals since they made Scottish football in general look higher risk meaning the arabs and the dons probably got a better deal. This sort of arrangement is made every day and there will be absolutely no effect on anybody's bank charges. Both clubs can be proud of their actions and deserve all the congratulations they got - I would love to see Hibs do something similar.
Lots of money for him, his firm and carefree coz despite him/BDO telling lies and being unethical during this whole process - When you have the support of Scottish government, then no wonder he is smug.
This CVA would have failed if it were any other club.
We laugh at them for calling themselves a big club, but I'm afraid we'd never have gotten the same political support.