:agree:Quote:
Originally Posted by Ozyhibby
It would seem a rather fraudulent stance if this were the case, no?
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:agree:Quote:
Originally Posted by Ozyhibby
It would seem a rather fraudulent stance if this were the case, no?
How would it be so? The buyers know what the position is, so how are they being defrauded?Quote:
Originally Posted by Spike Mandela
How will the assets being frozen by the Lithuanian state authorities effect BDO's progress?Quote:
Originally Posted by CropleyWasGod
It means that they can't take possession of the shares owned by UBIG. Without them, a sale of the shares can't happen.Quote:
Originally Posted by Dashing Bob S
But why then invite bids on such a short timescale of 12th July if it is so complex? Is this possibly when BDO will know for certain from Lithuania if they can sell assets?Quote:
Originally Posted by CropleyWasGod
I have 2 theories about that.Quote:
Originally Posted by Spike Mandela
The first is that the McKie group wants to get in as soon as possible.... he's made some comments about signing players before the start of the season. If they don't get a bid accepted quickly, I think they will pull out. Hence, BDO have to maximise the chance of a decent bid from them at least.
The second, less likely, notion is that BDO may have an inkling that the shares WON'T be available any time soon. They might therefore want to get the process over and done with sooner rather than later, as there would be little point persisting with the administration.
Would BDO be able to do a deal for Hearts as a going concern? By that I mean - they've stripped out the high earners, cut their cost and other things being equal would turn a profit. Except they have loans to Ukio that they need to pay interest and capital on.
So if a consortium could get the finance together to meet these overheads could they buy the name and entity (or whatever it is called) of the club - while the renting the remaining assets (ie Tynie) while its ownership was resolved/criminal investigations run their course etc...
Semi decent?!Quote:
Originally Posted by Rawr.rar
Steady on :faf:
Maybe the captaincy is a bit of a sweetener to up his sale price?Quote:
Originally Posted by Rawr.rar
That's a dreadful defence.Quote:
Originally Posted by Rawr.rar
from Brokeback
Quote:
BDO have published "Business for sale" Heart of Midlothian plc in yesterdays Financial Times. Interestingly it states:
"... the business and assests ............ including the brand and freehold stadium"
It goes on:
" Founded in 1874, with 16 league and cup wins
Freehold of 17,500 all seater Tynecastle Stadium
Average attendance of c. 13,000, with a loyal fan base including c. 10,000 season ticket holders
Heart of Midlothian Football Club brand and associated goodwill
Squad of 22 players, together with a highly skilled, loyal and experienced workforce"
Formal offers by 5.00pm on Friday 12 July 2013.
Interestingly, that was posted on here last week. It was taken down as it appeared to be confidential.Quote:
Originally Posted by Sir Alf R
Seen him today at hairy twatt (in full training gear number 4 dunno if he had that lat year) workmate gave him a wee smug smile captain Wilson caught his eye put his head down and scurried off, even he is embarrassed
If they buy the name, through a new company, that's the same as the Rangers situation. The new company would have to apply to the SPFL and the SFA for a new membership.Quote:
Originally Posted by Liberal Hibby
"Brand and assets" sounds like they aren't even trying to sell the existing company. If my understanding of that phrase is correct they will instead sell the "Hearts" business and assets from the existing company to a new company. Which would then leave them open to punishments at the discretion of the SPFL. Of course Rangers would then demand that "Hearts" should be put into the bottom division, because it would be practically the same as what happened to them.Quote:
Originally Posted by Sir Alf R
But couldn't the UKIO admins block a sale that didn't cover their security?Quote:
Originally Posted by CropleyWasGod
Have you seen the actual ad? I'm intrigued now.Quote:
Originally Posted by Part/Time Supporter
I dont think they could block the sale but could demand the 8m (which i believe is the value of the site in security to the debt) anytime.Quote:
Originally Posted by Geo_1875
No, I was just responding to what was in the post above. I would like to see the full wording as well.Quote:
Originally Posted by CropleyWasGod
The speed at which BDO are doing this also suggests they think hearts could be relegated to the bottom and have been told to sort it out sharpish by the spfl.
All of us who live in Edinburgh South can relax again, looks like Ian Murray is catching up on all the time he has wasted with the Hearts Foundation and is back to real parlimentery business again:
Who ate all the burgers?
It's £6.8m fixed charge over the property, and a floating charge over all of the assets.Quote:
Originally Posted by CB_NO3
found the add online
http://www.businessesforsale.com/ft/...ub-Assets.aspx
Business description
Joint Administrators of Heart of Midlothian plc offer for sale
the business and assets of this Edinburgh-based
Scottish Premier League football club, including the
brand and freehold stadium.
- Founded in 1874, with 16 League and Cup wins
- Freehold of 17,500 all-seater Tynecastle Stadium
- Average attendance of c.13,000, with a loyal fan base including
c.10,000 season ticket holders
- Heart of Midlothian Football Club brand and associated goodwill
- Squad of 22 players, together with a highly skilled, loyal and experienced workforce
Formal offers should be submitted to the Joint Administrators
by 5pm on Friday 12 July 2013.
Please use the 'Contact Seller' form for more information
Asking price - available on requestQuote:
Originally Posted by Sir Alf R
c'mon folks, someone has got to find out :-)
not really sure if this 'advert' indicates anything good/bad right now... (?)
whoring themselves though, desperate trash.
£70 onoQuote:
Originally Posted by Sir Alf R
£51 or £19.02 :wink:Quote:
Originally Posted by Greendrongo
Was this on ebay or gumtree?Quote:
Originally Posted by Sir Alf R
Thanks, that's quite explicit that they are selling the "business and assets" of Hearts, rather than the shares of the existing HMFC limited company. If you look back at the Rangers stuff from a year ago, Duff & Phelps used the exact same phrasing "business and assets" when describing the sale of Rangers FC to Sevco.
If that is genuine, and I have my doubts, that is the Rangers Newco situation. It's definitely a different ad to the prospectus that was issued last week.Quote:
Originally Posted by Sir Alf R
There are some glaring errors in it:-
1. it isn't an SPL club.
2. they wouldn't be if the name was sold as suggested.
Two German Biscuits and the proceeds of my weekend tombola.