Annual AGM and Loss Announcement

[Sergey]

Not posted anywhere else, but I understand that Friday 16th April is the provisional date for the announcement of their "improved figures."

This is when the deeds to the PBS are finally handed over to UBIG as part of their DfE thingybob as lieu of payment for the £17.6m that's long overdue.

[steakbake]

.... and this would mean?.... (sorry - pish at finance).

[bighairyfaeleith]

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.... and this would mean?.... (sorry - pish at finance).

it means hearts no longer own tynecastle and still have a massive amount of debt.

livingston hearts anyone

[Danderhall Hibs]

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it means hearts no longer own tynecastle and still have a massive amount of debt.

livingston hearts anyone

Do they own it just now? Only in name I'd say.

It looks like as if they'll be saying they've reduced their debt by "paying off" that loan of £17.6m.

[Gmack7]

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it means hearts no longer own tynecastle and still have a massive amount of debt.

livingston hearts anyone

i have always thought heart of west lothian had an air of inevitability about it

[Hainan Hibs]

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Not posted anywhere else, but I understand that Friday 16th April is the provisional date for the announcement of their "improved figures."

This is when the deeds to the PBS are finally handed over to UBIG as part of their DfE thingybob as lieu of payment for the £17.6m that's long overdue.

I'll take the day off just to celebrate this. Also might splash out on a nice bottle of wine and sit back and laugh at Le Shat and co's reaction

[bighairyfaeleith]

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Do they own it just now? Only in name I'd say.

It looks like as if they'll be saying they've reduced their debt by "paying off" that loan of £17.6m.

technically I believe it is owned by heart of midlothian FC, so if hearts where bought out the stadium stays with the club. Once this goes through they would have to buy it back seperately from buying the club. Also if hearts go bust, ukio can still sell the ground seperately as they own it and haven't went bust.

It won't wipe 17.6 million from there debt though as ubig can't afford to give ukio that much, I reckon closer to ten million, which will cover how much debt they have racked up in the twelve months so there debt will be roughly the same.

All IMHO ofcourse

[Gatecrasher]

you can shove yer heart of west lothian pish where the sun dont shine!

[Kato]

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i have always thought heart of west lothian had an air of inevitability about it

Not West enough for me. You'd still get "that smell" if the wind was wrong.

[jakki]

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you can shove yer heart of west lothian pish where the sun dont shine!

Ditto

[Martin]

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Not posted anywhere else, but I understand that Friday 16th April is the provisional date for the announcement of their "improved figures."

This is when the deeds to the PBS are finally handed over to UBIG as part of their DfE thingybob as lieu of payment for the £17.6m that's long overdue.

I'm sure they will use the money from the great champions league run they had - oh wait

[Mikey]

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I'll take the day off just to celebrate this. Also might splash out on a nice bottle of wine and sit back and laugh at Le Shat and co's reaction

They'll put a positive spin on it.

[Dashing Bob S]

Taken from Kickback:

"This can only be good news from a Hearts point of view. Let's face it, UBIG already technically own Tynecastle anyway, and all this does is reduces Hearts debt through a further equity switch. It also means that as formal owners UBIG now have a vested interest in aggressively pursuing Vladimir Romanov's stadium development plans. Let our evergreen with envy Hobo friends say that they will, we should be out celebrating."

Actually I just made this up because I can't be bothered going over there, but the reaction will be something along these lines.

[Steve20]

I don't see how this makes anything worse for them at all.

[Hainan Hibs]

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They'll put a positive spin on it.

That's what I love

[RIP]

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Not posted anywhere else, but I understand that Friday 16th April is the provisional date for the announcement of their "improved figures."

This is when the deeds to the PBS are finally handed over to UBIG as part of their DfE thingybob as lieu of payment for the £17.6m that's long overdue.

Another entralling episode from the man at the hub of hot news on iamfasninatedbyeverythinghearts.net

[down the slope]

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Another entralling episode from the man at the hub of hot news on iamfasninatedbyeverythinghearts.net

Yawn yersel ! the man is just getting stuck in and winding up the yambolinos.

[Hibernia Na Eir]

and Dundee Utd and Dunfermline are still celebrating the fact that they both knocked back VR's advances 5 or 6 years ago......

Only HMFC were so desperate to take the bandit on board. BIG ERROR. Time will tell....

[hibsbollah]

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Another entralling episode from the man at the hub of hot news on iamfasninatedbyeverythinghearts.net

[banchoryhibs]

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Taken from Kickback:

"This can only be good news from a Hearts point of view. Let's face it, UBIG already technically own Tynecastle anyway, and all this does is reduces Hearts debt through a further equity switch. It also means that as formal owners UBIG now have a vested interest in aggressively pursuing Vladimir Romanov's stadium development plans. Let our evergreen with envy Hobo friends say that they will, we should be out celebrating.".

At the risk of being accused of being a to be honest a DfE swap with the transferring of the ground deeds to Lithuania does not really make much of a difference at all. They are £££££M in debt with the bulk of this being secured against the stadium so it's true that technically UBIG (if indeed it is UBIG) have first shout on the stadium. Take the asset and a corresponding amount of debt off the balance sheet - no change - it's still a terrible mess.

Does this make them any less secure? Probably not as if Ripemoff was to sell the stadium he'd effectively be closing down the team - that would close down his "dripping roast" and stop a very good supply of hard cash flowing into his bank in Lithuania (or whatever other country he choses to send it!).

I'd say that this is a bit of a non story really.

[bighairyfaeleith]

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At the risk of being accused of being a to be honest a DfE swap with the transferring of the ground deeds to Lithuania does not really make much of a difference at all. They are £££££M in debt with the bulk of this being secured against the stadium so it's true that technically UBIG (if indeed it is UBIG) have first shout on the stadium. Take the asset and a corresponding amount of debt off the balance sheet - no change - it's still a terrible mess.

Does this make them any less secure? Probably not as if Ripemoff was to sell the stadium he'd effectively be closing down the team - that would close down his "dripping roast" and stop a very good supply of hard cash flowing into his bank in Lithuania (or whatever other country he choses to send it!).

I'd say that this is a bit of a non story really.

I disagree, hearts currently have x amount of debt and a stadium they could sell.

Vlad transfers the stadium to ubig and in theory takes away some of here debt. However due to bad management (vlad siphoning cash) and interest payments there debt will likely stay around the same level, maybe a couple of million off to appease the hordes, but certainly nothing like the 20 million thye could have go for the land five years ago.. UBIG get the stadium for very cheap, I reckon 10 million.

Then when vlad decides to stop propiing up hearts they will be left with more debt than before vlad came along and no stadium.

There ****ed and they still don't accept it's happening.

[cockneymike]

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I disagree, hearts currently have x amount of debt and a stadium they could sell.

Vlad transfers the stadium to ubig and in theory takes away some of here debt. However due to bad management (vlad siphoning cash) and interest payments there debt will likely stay around the same level, maybe a couple of million off to appease the hordes, but certainly nothing like the 20 million thye could have go for the land five years ago.. UBIG get the stadium for very cheap, I reckon 10 million.

Then when vlad decides to stop propiing up hearts they will be left with more debt than before vlad came along and no stadium.

There ****ed and they still don't accept it's happening.

Totally agree - this is what gaydamak did with Portsmouth, and let's look at what's happening there.....

[MB62]

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At the risk of being accused of being a to be honest a DfE swap with the transferring of the ground deeds to Lithuania does not really make much of a difference at all. They are £££££M in debt with the bulk of this being secured against the stadium so it's true that technically UBIG (if indeed it is UBIG) have first shout on the stadium. Take the asset and a corresponding amount of debt off the balance sheet - no change - it's still a terrible mess.

Does this make them any less secure? Probably not as if Ripemoff was to sell the stadium he'd effectively be closing down the team - that would close down his "dripping roast" and stop a very good supply of hard cash flowing into his bank in Lithuania (or whatever other country he choses to send it!).

I'd say that this is a bit of a non story really.

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I disagree, hearts currently have x amount of debt and a stadium they could sell.

Vlad transfers the stadium to ubig and in theory takes away some of here debt. However due to bad management (vlad siphoning cash) and interest payments there debt will likely stay around the same level, maybe a couple of million off to appease the hordes, but certainly nothing like the 20 million thye could have go for the land five years ago.. UBIG get the stadium for very cheap, I reckon 10 million.

Then when vlad decides to stop propiing up hearts they will be left with more debt than before vlad came along and no stadium.

There ****ed and they still don't accept it's happening.

I reckon the reality is somewhere in the middle of both these views.

It will only ever matter if/when Vlad decides he's had enough.
I can't see that happening in the near future either as Vlad is making a fortune from the Yams in interest payments, despite what they claim.

[banchoryhibs]

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Then when vlad decides to stop propiing up hearts they will be left with more debt than before vlad came along and no stadium.

There ****ed and they still don't accept it's happening.

Fair comment, it depends on the value placed on the stadium when the DfE swap takes place.

The ultimate outcome won't change - when Vlad leaves what's left behind will be a complete mess - no stadium, huge debt and a team in ruins. We live in hope.

[Jack]

If/when Hearts loose their stadium to another part of the Mad Vlad empire it will mean just one thing. The Empire will then be able to drain even more money from the deluded jambos in the form of rent.

Interest + registration fees + rent = probably about £7-8m a year.

[truehibernian]

Who cares All I know is that it is still f***ing magic beating them, so let's hope Romanov hangs around for a wee while longer yet so we have some magic derby wins to celebrate. I couldn't give two hoots what that rotten little club do on or off the pitch. Can't really understand the fascination with seeing Hearts fall off the football map to be honest. Derby days are what makes football brilliant. They cling on the this 108 years nonsense whilst some on here cling to this "you're going into liquidation" thing. I know it's banter, but to those who want Hearts to go under.........think about not having those emotions come 12 on Saturday. Excitement, fear, banter, nerves, joy, pain, etc etc. Give me derby days any day of the week..........so hopefully Romanov stays around a bit longer so we can still celebrate pumpetty pumping them Starting this weekend with a Stokes hat-trick please

[jgl07]

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I don't see how this makes anything worse for them at all.

They will be in a similar position to Hibs when the holding company owned the stadium rather than the football club.

This could have implications for turnover and catering revenue etc. It did for Hibs until the club had the stadium transferred back.

The debts will go down by some amount but there will be a ground rental to pay to UBIG. No-one knows how much the debt will be reduced by until the accounts are published (assuming they can get an auditor to sign them).

[Cropley10]

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Who cares All I know is that it is still f***ing magic beating them, so let's hope Romanov hangs around for a wee while longer yet so we have some magic derby wins to celebrate. I couldn't give two hoots what that rotten little club do on or off the pitch. Can't really understand the fascination with seeing Hearts fall off the football map to be honest. Derby days are what makes football brilliant. They cling on the this 108 years nonsense whilst some on here cling to this "you're going into liquidation" thing. I know it's banter, but to those who want Hearts to go under.........think about not having those emotions come 12 on Saturday. Excitement, fear, banter, nerves, joy, pain, etc etc. Give me derby days any day of the week..........so hopefully Romanov stays around a bit longer so we can still celebrate pumpetty pumping them Starting this weekend with a Stokes hat-trick please

Sorry but I would be very glad to never have another Derby. Our record of pumpetty pumping them is not that good is it?

I know they would reform, not disappear, and that they would end up back in the SPL. But I'd not shed a tear for them or for lack of Derbies... this may, or may not, have something to do with 22IAR and that Semi.

[Dashing Bob S]

I heard that UBIG refused to take the title deeds due to the condition of the asbestos stand.

[KerPlunk]

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I heard that UBIG refused to take the title deeds due to the condition of the asbestos stand.

Did you make that up as well ?