Share Transfers Agreed/Cooling off period

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Originally Posted by Caversham Green

Just what I was about to say. Any other club - including Rangers - and there would be fans at the ground showing a bit of solidarity, even if it might not achieve much.

That bunch of smug flippant losers deserve everything that's coming.

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100%

"too busy working" "the big hoose must stay open"

Folk are getting paid of at there club its all going pear shaped and that's the crap they come away with, they just don't care do they. Losers.

When do i send the wreath. **** them.

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Originally Posted by Hibbyradge

The thing is, no-one under the age of about 30 will have any concept of what Hearts look like when living within their means.

Mercer starting the overspending in the 80's, Robinson cranked it up and Romanov, using everyone's money except his own, took it to the obscene level which may well see their club die.

They've been like an addict needing a bigger and bigger fix until eventually, the same thing which gives them such illicit pleasure, kills them.

Hearts must have spent circa £140m since Romanov came to town when their real turnover would have provided less than half of that. Not a single penny of that was spent securing Hearts future.

Just as an addict finds sobriety very difficult to handle, Hearts fans will be in cold turkey for years watching a team they can actually afford.

If you think Petrie gets a hard time for his prudence, wait till you see how Hearts' new owner is treated.

Third force no more.

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Been trying to put into words exactly as you've said but you've saved me from it (Thanks !!) - a 'Tsunami of Reality' is heading straight for that age-group and it'll be very interesting to see how many survive !!

NOT a 'Big Team', nothing special, just another Scottish Football Club (MAYBE ??) - they don't, and never did, 'own us', and we were NEVER, EVER in 'their Shadow' - we've just been patiently waiting for them to come back from their 30+ years 'Walkabout' ............. and it's gonna be oh-so-sweet !!!!

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Originally Posted by steviehibsleith

At work whats on Stv news now ?
All bad news i hope :cb

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More press than yams at the savilledome says it all, press conference at 5 o'clock, staff to be paid off.


The deluded ones don't give a **** about there club.


RIP h*****

BDO bill for 11 months at Portsmouth £2.2m, £200k / month average.

The above were the rough costs for the Pompey admin, where are they going to find this amount from Hearts??

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Originally Posted by Andy74

It's not nice but Hearts fans themselves think its all worth it. I suppose that includes seemingly innocent members of their staff losing their jobs. This is part of what they have encouraged and enjoyed to win a couple of cups. Perhaps the sight of normal punters leaving their jobs later will change their worth it stance. Doubt it though.

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:agree: And add in the money lost to ordinary Lithuanians. Heartless of Midlothian.

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Originally Posted by AberGreen

To be fair, in 1990 when the news broke about Mercer's take over, I and many others headed straight for the stadium as we wanted to hear what was going on. There was a virtual vigil for the entire time it was going on. Nowadays, you're better being at home with your laptop and Sky Sports News.

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If you want to be a passive consumer of news, yes.

If you want to make the news, you need to *do* something. I would imagine a visible sign of support / defiance would raise morale and add momentum to the FoH campaign. Make a really big noise and the UK-wide media - who have mostly ignored this story - might take a greater interest, perhaps flushing out support from fans who live outside Scotland.

Today and tomorrow are absolutely critical in determining Hearts' future.

They can do what they want, however.

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Originally Posted by YehButNo But

BDO bill for 11 months at Portsmouth £2.2m, £200k / month average.

The above were the rough costs for the Pompey admin, where are they going to find this amount from Hearts??

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It will be taken out of the proceeds if they are eventually sold.

From Jim Spence' twitter. Gary Locke pacing about awaiting news if any player cuts.

Attachment 10367

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Originally Posted by Craig_in_Prague

a ken we're in a difficult position with the money problems n that, but I hink we can stay up, coz 15 points isnae really that much, I ken its mare than 10 and possibly less than 20, but we huv the best youngsters in the world and i fancy we kin finish 2nd and win the cup again. we are a big club, a massive club, and this is my dream job, we just huv tae focus on the fitbaw ken

something along those lines ?

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"massive club" is a cert to get a mention.

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Originally Posted by JeMeSouviens

It will be taken out of the proceeds if they are eventually sold.

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So any bid will have to cover this cost as well as include an attractive CVA proposal and offer immediate solution to running costs. How much do we reckon this could come to?

Pretty brutal when you see ordinary workers getting sacked.

Might encourage some of the roasters on kickback to start showing a bit backbone and humility as opposed to the shocking attitude most have shown so far.

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Originally Posted by McPhisto2

Right I don't get it. How does bidding to keep the club running resolve any issues?

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It may be cheaper for a buyer to pay the wages for a month or two for some of the players than to recruit the same number of players later (agent fees, signing on fees, if not transfer fees). Also if they let some of the senior players go and are still under an embargo for most (if not all) of this season then they will have little chance of staying up. All of these factors would affect a buyer's decision as to how much to offer (if anything).

There's a big misconception (mainly amongst Hearts fans) that an Administrator must accept the best bid for the club. That isn't true. You only have to look at Dunfermline who had 2 bids turned down because they weren't suitable.

It's unlikely anyone who gives the administrator money is going to do so without any caveats attached and if BDO aren't agreeable (preferred bidder etc) then they'll be told to shove their money.

The Yam press (Ewan Murray, Brian Mclaughlin, Barry Anderson et al) are doing their usual, hearing a snippet of info and then blowing it up and portraying it as a sticking plaster over Hearts problems. They have learned nothing from doing this previously.

Hearts currently have no income, that problem needs to be solved somehow, BDO also need to make sense of the financials at the club so that any bids can be handled correctly. Then they need to begin the difficult process of somehow getting UBIG's shares in Hearts unfrozen. Then they need to get whoever is in charge at UBIG to accept the transfer of said assets. Next up is convincing the UKIO administrator to sell their 29.9% shareholding to the bidder and not sell the stadium so the offer needs to be worth enough to make a convincing case there.

Anyone got anything to add?

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Originally Posted by Filled Rolls

See all these years we've been waiting for them to implode, did nobody realise that jobs would be lost. I think the crocodile tears for those heading to the buroo are a bridge too far.

Lets get back to enjoying the cartoon, and not be too worried about people having pianos dropping on them. If you really care about them heading out the door help them find a job. I'd be surprised if they didn't see this coming.

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This for me. Whilst it's not nice that folks are getting emptied from their jobs. It was always going to be this way. We've pretty much all been wanting them deid. So I say bin the lot of them. It's not changed anything for me.
I do however hope those unfortunates find alternative employment.
GGTTH

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Originally Posted by Bajillions

There's a big misconception (mainly amongst Hearts fans) that an Administrator must accept the best bid for the club. That isn't true. You only have to look at Dunfermline who had 2 bids turned down because they weren't suitable.

It's unlikely anyone who gives the administrator money is going to do so without any caveats attached and if BDO aren't agreeable (preferred bidder etc) then they'll be told to shove their money.

The Yam press (Ewan Murray, Brian Mclaughlin, Barry Anderson et al) are doing their usual, hearing a snippet of info and then blowing it up and portraying it as a sticking plaster over Hearts problems. They have learned nothing from doing this previously.

Hearts currently have no income, that problem needs to be solved somehow, BDO also need to make sense of the financials at the club so that any bids can be handled correctly. Then they need to begin the difficult process of somehow getting UBIG's shares in Hearts unfrozen. Then they need to get whoever is in charge at UBIG to accept the transfer of said assets. Next up is convincing the UKIO administrator to sell their 29.9% shareholding to the bidder and not sell the stadium so the offer needs to be worth enough to make a convincing case there.

Anyone got anything to add?

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Karma's a bitch. Jambogeddon.

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Originally Posted by Bajillions

There's a big misconception (mainly amongst Hearts fans) that an Administrator must accept the best bid for the club. That isn't true. You only have to look at Dunfermline who had 2 bids turned down because they weren't suitable.

It's unlikely anyone who gives the administrator money is going to do so without any caveats attached and if BDO aren't agreeable (preferred bidder etc) then they'll be told to shove their money.

The Yam press (Ewan Murray, Brian Mclaughlin, Barry Anderson et al) are doing their usual, hearing a snippet of info and then blowing it up and portraying it as a sticking plaster over Hearts problems. They have learned nothing from doing this previously.

Hearts currently have no income, that problem needs to be solved somehow, BDO also need to make sense of the financials at the club so that any bids can be handled correctly. Then they need to begin the difficult process of somehow getting UBIG's shares in Hearts unfrozen. Then they need to get whoever is in charge at UBIG to accept the transfer of said assets. Next up is convincing the UKIO administrator to sell their 29.9% shareholding to the bidder and not sell the stadium so the offer needs to be worth enough to make a convincing case there.

Anyone got anything to add?

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UK & LT laws are different and this isn't simply a case of transferring inter-company debts/shares, given even more problems in the fact that one is filing for insolvency and the other is currently in administration. Also, bear in mind that UBIG are under criminal investigation. Things are far murkier than the Yam press would have you believe and this could drag on for a considerable time.

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Originally Posted by Bajillions

There's a big misconception (mainly amongst Hearts fans) that an Administrator must accept the best bid for the club. That isn't true. You only have to look at Dunfermline who had 2 bids turned down because they weren't suitable.

It's unlikely anyone who gives the administrator money is going to do so without any caveats attached and if BDO aren't agreeable (preferred bidder etc) then they'll be told to shove their money.

The Yam press (Ewan Murray, Brian Mclaughlin, Barry Anderson et al) are doing their usual, hearing a snippet of info and then blowing it up and portraying it as a sticking plaster over Hearts problems. They have learned nothing from doing this previously.

Hearts currently have no income, that problem needs to be solved somehow, BDO also need to make sense of the financials at the club so that any bids can be handled correctly. Then they need to begin the difficult process of somehow getting UBIG's shares in Hearts unfrozen. Then they need to get whoever is in charge at UBIG to accept the transfer of said assets. Next up is convincing the UKIO administrator to sell their 29.9% shareholding to the bidder and not sell the stadium so the offer needs to be worth enough to make a convincing case there.

Anyone got anything to add?

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I would've thought that with the possible exception of the Foundation of Muppetry, anybody willing to meet a funding gap would be looking for a period of exclusivity? Can't see Ukio's liquidator agreeing to that unless they have a clear indication of the likely quanta* of all possible bidders? And surely at least some sort of cursory glance at the books might be in order before that? In the equivalent early days of the Hun saga, the Hun journos (Traynor, Chick Young etc) all expected the Huns to be out of admin in time to qualify for next season's European competition. I think the deadline for that was the end of March. How did that one go? :greengrin


* quanta are back, happy days! :wink:

@jamiekborthwick: Lord Foulkes tells STV he met with Lithuanian ambassador in London today to discuss Hearts http://t.co/KjqUCMGVBv

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Originally Posted by green glory

@jamiekborthwick: Lord Foulkes tells STV he met with Lithuanian ambassador in London today to discuss Hearts http://t.co/KjqUCMGVBv

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Maybe he should have done that 1st time round, before he endorsed 'r Romanov

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Originally Posted by green glory

From Jim Spence' twitter. Gary Locke pacing about awaiting news if any player cuts.

Attachment 10367

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Pictured alongside a Saab. How apt.

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Originally Posted by Billy Whizz

Maybe he should have done that 1st time round, before he endorsed 'r Romanov

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Attachment 10368

Never!

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Originally Posted by green glory

@jamiekborthwick: Lord Foulkes tells STV he met with Lithuanian ambassador in London today to discuss Hearts http://t.co/KjqUCMGVBv

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Did he change his troosers before he met him? Bet that was an in-depth conversation that had the Lith ambassador on the edge of his seat......or not if pishy breeks hadn't changed his troosers lol.

On a serious note, didn't someone say ages ago on here that Lithuania are trying to get membership of the EU or something similar this year and that
they're trying to suppress any negativity around them. If so, there could be moves afoot to quash all this nonsense over some two bit scottish football club pretty sharpish?

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Originally Posted by green glory

Attachment 10368

Never!

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Fatty Foulkes and his face that looks like a well skelped erse!!

The pink hoose must stay open.

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Originally Posted by Pretty Boy

Pretty brutal when you see ordinary workers getting sacked.

Might encourage some of the roasters on kickback to start showing a bit backbone and humility as opposed to the shocking attitude most have shown so far.

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Nah, they are sorted and too busy at work to give a toss about anyone at there club losing jobs, **** them, the ordinary workers are now finding out what a bunch of ******* losers the fans of the club they worked for.

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Originally Posted by green glory

@jamiekborthwick: Lord Foulkes tells STV he met with Lithuanian ambassador in London today to discuss Hearts http://t.co/KjqUCMGVBv

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As soon as that guy's name is mentioned my immediate thoughts turn to impending malpractice and skullduggery.

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Originally Posted by green glory

@jamiekborthwick: Lord Foulkes tells STV he met with Lithuanian ambassador in London today to discuss Hearts http://t.co/KjqUCMGVBv

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Hearts are lucky they have a man of such power and influence:rolleyes:

Hopefully the Lithuanian ambassador reminds him Romanov and Ubig's dealings are under criminal investigation and the Lithuanian state will be looking after their own interests first..

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Originally Posted by Northernhibee

Certain players who were only ever there for the money should look at the effect it's had and be ashamed of themselves.

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What for? Vlads to blame for paying the silly money.

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Originally Posted by McPhisto2

On a serious note, didn't someone say ages ago on here that Lithuania are trying to get membership of the EU or something similar this year and that they're trying to suppress any negativity around them. If so, there could be moves afoot to quash all this nonsense over some two bit scottish football club pretty sharpish?

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Lithuania have been in the EU since 2004.

They are supposed to join the Euro on January 1 2015.

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Originally Posted by Bajillions

There's a big misconception (mainly amongst Hearts fans) that an Administrator must accept the best bid for the club. That isn't true. You only have to look at Dunfermline who had 2 bids turned down because they weren't suitable.

It's unlikely anyone who gives the administrator money is going to do so without any caveats attached and if BDO aren't agreeable (preferred bidder etc) then they'll be told to shove their money.

The Yam press (Ewan Murray, Brian Mclaughlin, Barry Anderson et al) are doing their usual, hearing a snippet of info and then blowing it up and portraying it as a sticking plaster over Hearts problems. They have learned nothing from doing this previously.

Hearts currently have no income, that problem needs to be solved somehow, BDO also need to make sense of the financials at the club so that any bids can be handled correctly. Then they need to begin the difficult process of somehow getting UBIG's shares in Hearts unfrozen. Then they need to get whoever is in charge at UBIG to accept the transfer of said assets. Next up is convincing the UKIO administrator to sell their 29.9% shareholding to the bidder and not sell the stadium so the offer needs to be worth enough to make a convincing case there.

Anyone got anything to add?

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Aye,they're ****** :-)