Share Transfers Agreed/Cooling off period

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Originally Posted by Puzzle

Total and utter b*llsh*t. Sorry Steve but as much as you think liquidation or administration is wishful thinking by some on here, your own thoughts on the subject are as far removed from reality as the deranged warblings by the likes of "The Source" on the Scotsmans comments section.

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He's a fud alright that Source followed closely by Rolland who must think the answer to every single problem at the PBS is 1-5 1902 wee team

You really must read some of the utter garbage they come out with, they don't get it all they're own way of course, plenty Hibbies giving them it tight :wink:

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Originally Posted by matty_f

Someone's going to pay up to £7m for an almost worthless entity (as they're not buying the PBS I assume, given they say it'll be rented for 3 years), then they'll have to spend to build a team, then build a 25k seater stadium (having bought the land too)?

Really?

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The cooncil is waiting in the wings.

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Originally Posted by The Falcon

I have a nagging doubt that somehow this has been carefully engineered to suit Hearts as the board left by the back door of UBIG, just as the cops were coming in the front. I cant see where but nonetheless I am intrigued by their manouvering/shenanigans.

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This UBIG insolvency has been carefully choreographed by one of Fedetovas' chums. I'm sure they could easily have applied for an insolvency ages ago but have held out as long as they possibly could as a wee favour to old Feddy. He will be managing every loophole and financial piece of skullduggery that is still within his power.

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Originally Posted by clerriehibs

The cooncil is waiting in the wings.

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There is not a chance in hell the council will build the Yams a stadium. It would never get funding and even if it did (it won't) it would need to be multipurpose and that means a running track around it.

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Originally Posted by clerriehibs

The cooncil is waiting in the wings.

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Yup me thinks so. And this will not go away until they or the council build a new wongadome in partnership or in another part of he green belt cleared to help the yams. **** the council and **** councillors.

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Originally Posted by Bajillions

There is not a chance in hell the council will build the Yams a stadium. It would never get funding and even if it did (it won't) it would need to be multipurpose and that means a running track around it.

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Think they have gone to the council with a proposal to jointly build a stadium, renting Meadowbank as an interim solution realising administrator will take and sell Tynecastle. Have sources inside council who confirmed talks have been held. Although council unlikely to progress.

I really can't see how anyone will be able to buy the club, well, certainly the legal / corporate identity, anytime soon.

Hearts are at the heart (ugh) of a web of dodgy dealing and criminal activity. I'd imagine the Lithuanian state will be keen to unpick this mess, find where all the money came from and went to, to ensure they can nail the Mad one firmly to the wall.

All that will take time, years even. Hearts are frozen along with the rest of UBIGs assets and will surely stay that way. I can see the Admins / Liquidators selling off the stuff that can be sold from this mess, so in Hearts case the ground, but surely the club / company will remain frozen, as a central part of the investigation to come?


This being the case, at best FOH or whoever will be able to try and bid for the ground, maybe a few other things, but the dead husk of the club will remain frozen till the investigation ends. At best years from now whatever name the Yam newco, say AFC Hearts, takes might be able to bid to buy the name, as Florentina Viola eventually managed to get hold of the right to name itself Fiorentia a couple years after they went bust. All that will mean unlike The Rangers, there will be no chance of them claiming to be the same club, no argument about continuation or history...

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Originally Posted by Bajillions

There is not a chance in hell the council will build the Yams a stadium. It would never get funding and even if it did (it won't) it would need to be multipurpose and that means a running track around it.

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:agree:

Nae danger. If a stadium was to be built Edinburgh rugby would have as much claim as the Yams. Couldn't justify it and would get slapped back down as soon as capacity was mentioned.

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Originally Posted by VivaPalmeiras

Yup me thinks so. And this will not go away until they or the council build a new wongadome in partnership or in another part of he green belt cleared to help the yams. **** the council and **** councillors.

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Like Bajillions I don't think there is a snowballs hope in hell of the council helping out in any way. The cuffufle over Porty over green space and the reaction to their last attempt sees that as a non starter.

I'm sure that there wou be all hell to pay for the councillors who even mention it.

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Originally Posted by desantos0773

Think they have gone to the council with a proposal to jointly build a stadium, renting Meadowbank as an interim solution realising administrator will take and sell Tynecastle. Have sources inside council who confirmed talks have been held. Although council unlikely to progress.

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So 2 skint entities are planning on building a stadium together?

Meadowbank only holds 7500 so that would reduce Hearts income significantly (~43% lower attendances) and they need to give a certain number over to away fans (not sure if this is a % or a fixed number someone else may be able to answer that) I also don't think Meadowbank has undersoil heating, so that's a no go as far as SPL rules are concerned.

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Originally Posted by Spike Mandela

This UBIG insolvency has been carefully choreographed by one of Fedetovas' chums. I'm sure they could easily have applied for an insolvency ages ago but have held out as long as they possibly could as a wee favour to old Feddy. He will be managing every loophole and financial piece of skullduggery that is still within his power.

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One loophole he can't escape is the Wrongful Trading legislation in the UK.

Any debts run up by HMFC since their own insolvency was established (and that date can be argued so many different ways. For me, it is when UBIG stopped supporting them; for others, it could be prior to then) become the personal debts of the Board. So, not only is there a potential financial liability for them, there is also prosecution.

That said, those considerations look like small beer compared to the Lith allegations.

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Originally Posted by Bajillions

So 2 skint entities are planning on building a stadium together?

Meadowbank only holds 7500 so that would reduce Hearts income significantly (~43% lower attendances) and they need to give a certain number over to away fans (not sure if this is a % or a fixed number someone else may be able to answer that) I also don't think Meadowbank has undersoil heating, so that's a no go as far as SPL rules are concerned.

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If they end up homeless they only really have three options, none of them good:

Murrayfield, too big, expensive.

Easter Road, I doubt their fans could stomach that, or us for that matter. We'd probably charge them through the nose as well to cover the damage they'd undoubtedly do during every game.

Livingston, probably the only one they could afford, but reduced capacity and distance would hurt them.

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Originally Posted by Bajillions

So 2 skint entities are planning on building a stadium together?

Meadowbank only holds 7500 so that would reduce Hearts income significantly (~43% lower attendances) and they need to give a certain number over to away fans (not sure if this is a % or a fixed number someone else may be able to answer that) I also don't think Meadowbank has undersoil heating, so that's a no go as far as SPL rules are concerned.

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Except that the chances of them remaining in the SPL and attracting a crowd of even 57% of their current attendance are next to negligible.

(That's "next to" on the unlikely side of negligible).

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Originally Posted by Bajillions

So 2 skint entities are planning on building a stadium together?

Meadowbank only holds 7500 so that would reduce Hearts income significantly (~43% lower attendances) and they need to give a certain number over to away fans (not sure if this is a % or a fixed number someone else may be able to answer that) I also don't think Meadowbank has undersoil heating, so that's a no go as far as SPL rules are concerned.

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Yes the council has a great record of not being conned out of money for joint projects. The trams comes to mind.

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Originally Posted by Bajillions

So 2 skint entities are planning on building a stadium together?

Meadowbank only holds 7500 so that would reduce Hearts income significantly (~43% lower attendances) and they need to give a certain number over to away fans (not sure if this is a % or a fixed number someone else may be able to answer that) I also don't think Meadowbank has undersoil heating, so that's a no go as far as SPL rules are concerned.

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SPL rules?! Things they might abide by?

:faf:

oh stop it! My sides aree hurting! I usually look forward to your posts too!!!

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Originally Posted by desantos0773

Think they have gone to the council with a proposal to jointly build a stadium, renting Meadowbank as an interim solution realising administrator will take and sell Tynecastle. Have sources inside council who confirmed talks have been held. Although council unlikely to progress.

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There was a Council report from about 18 months ago on meetings and proposals for a Community Stadium and a land swop, the PBS for 15 acres or so at Sighthill.

It kind of got dropped like a hot potatoe when it turned out the independent report was written by a Yam shareholder. :wink:

I think Hearts said they would continue their quest for a new home themselves.

re: the possibility of the Council building a new Yam stadium, there is an interesting stushie developing in Northern Ireland. Crusaders FC is complaining that the proposed redevelopment of Windsor Park (funded by the NI Government) breaches competition law because it would be effectively state aid to Linfield.

http://www.bbc.co.uk/sport/0/football/22616193

This is in light of investigations started by the European Commission into similar aid for some Dutch clubs, including PSV.

http://www.bbc.co.uk/news/world-europe-22024669

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Originally Posted by greenginger

There was a Council report from about 18 months ago on meetings and proposals for a Community Stadium and a land swop, the PBS for 15 acres or so at Sighthill.

It kind of got dropped like a hot potatoe when it turned out the independent report was written by a Yam shareholder. :wink:

I think Hearts said they would continue their quest for a new home themselves.

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They had a meeting in April with the council on a new proposal.

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Originally Posted by Part/Time Supporter

re: the possibility of the Council building a new Yam stadium, there is an interesting stushie developing in Northern Ireland. Crusaders FC is complaining that the proposed redevelopment of Windsor Park (funded by the NI Government) breaches competition law because it would be effectively state aid to Linfield.

http://www.bbc.co.uk/sport/0/football/22616193

This is in light of investigations started by the European Commission into similar aid for some Dutch clubs, including PSV.

http://www.bbc.co.uk/news/world-europe-22024669

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Wasn't there something like this in Spain recently with Real Madrid involved?

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Originally Posted by greenginger

There was a Council report from about 18 months ago on meetings and proposals for a Community Stadium and a land swop, the PBS for 15 acres or so at Sighthill.

It kind of got dropped like a hot potatoe when it turned out the independent report was written by a Yam shareholder. :wink:

I think Hearts said they would continue their quest for a new home themselves.

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And 18 months ago the council thought Hertz owned the PBS.

It roughly costs £1 million per 1000 seats and that excludes the land costs. Never going to happen.

http://local.stv.tv/edinburgh/103034...clubs-stadium/


I think that is a report on the latest survey/proposal/delusion. Just remembered Council are not allowed to enter joint projects with any organisation whose financial viability is not Triple A rated. I don't think 6 out of a 100 cuts it. :greengrin

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Originally Posted by Hot Shot Hamish

And 18 months ago the council thought Hertz owned the PBS.

It roughly costs £1 million per 1000 seats and that excludes the land costs. Never going to happen.

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Pedantically, they do. Albeit, it's the most negative of negative-equity situations..... :greengrin

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Originally Posted by Mikey

Wasn't there something like this in Spain recently with Real Madrid involved?

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:agree:

http://www.independent.co.uk/sport/f...d-8557550.html

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Originally Posted by Mikey

Wasn't there something like this in Spain recently with Real Madrid involved?

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Real Madrid and Barcelona had special tax deals for years allowing foreign superstars to pay the minimum of tax.

This had to end with all the austerity measures in the country. Also Madrid got a present from Franco back in the day, of about 100 acres of parkland near the city centre which was used as training grounds and practice pitches.

However since the 70's, when finances get tight they just hive off a dozen or so acres to the estate agents.

Now that's what is really meant by an establishment Club ! :greengrin

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Originally Posted by greenginger

http://local.stv.tv/edinburgh/103034...clubs-stadium/


I think that is a report on the latest survey/proposal/delusion. Just remembered Council are not allowed to enter joint projects with any organisation whose financial viability is not Triple A rated. I don't think 6 out of a 100 cuts it. :greengrin

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I'm sure last time this surfaced, no-one was talking about a joint venture. The council would be building an arena, because they need one, allegedly, and the hertz spin on it was that they would rent it, but provide their requirements on the stadium's format.

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Originally Posted by clerriehibs

I'm sure last time this surfaced, no-one was talking about a joint venture. The council would be building an arena, because they need one, allegedly, and the hertz spin on it was that they would rent it, but provide their requirements on the stadium's format.

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Not in my life that would happen, if it did I would be proud to be cheerleader at a massive protest up the High Street

They can GTF, their arrogance is breathtaking.

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Originally Posted by Jack

Like Bajillions I don't think there is a snowballs hope in hell of the council helping out in any way. The cuffufle over Porty over green space and the reaction to their last attempt sees that as a non starter.

I'm sure that there wou be all hell to pay for the councillors who even mention it.

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Not even for combined with Edinburgh Rugby and some athletics venue?

I hope so Jack - they've proved themselves incapable of managing any infrastructure/capital spending project - you still cruising?

May'be the Yams could have a 3 - way share here. :greengrin


http://www.scotsman.com/edinburgh-ev...urgh-1-2938171

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Originally Posted by greenginger

http://local.stv.tv/edinburgh/103034...clubs-stadium/


I think that is a report on the latest survey/proposal/delusion. Just remembered Council are not allowed to enter joint projects with any organisation whose financial viability is not Triple A rated. I don't think 6 out of a 100 cuts it. :greengrin

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Surely there's ways around that - the Norwegians come in and build a half Ikea/half multiparty stadium and lease it to the dafties...

Stadiums?
Where the yams are going city park would meet requirements.

Is Meadowbank not due to be demolished?