Hearts Football Debt

[greenginger]

http://www.heraldscotland.com/sport/...rship.25842766


I was never convinced Hearts football debts had been settled before the season started.

Glad to see it has almost happened , I wonder who is getting stiffed instead.

[malagahibby]

[QUOTE=greenginger;4221532][url]http://www.heraldscotland.com/sport/football/football-debt-settled-as-club-step-closer-to-fan-

So all in all they paid just over 3m for a 29m debt.
They call The Rangers cheats ?
Unreal.

[brog]

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http://www.heraldscotland.com/sport/...rship.25842766


I was never convinced Hearts football debts had been settled before the season started.

Glad to see it has almost happened , I wonder who is getting stiffed instead.

Yes, I was with you in having serious doubts that these debts had been settled earlier. If they had it would have been shouted from the rooftops! It's also strange that they have to wait another 8 months or so before paying the final £23k. Why not pay it now? After all that's only about 20% of what they collected from us on our visit to PBS this season. I wonder if the SFA have been involved here. Theoretically Yams should not have been allowed to play before these debts were settled unless of course there was an agreed payment plan though that seems beyond the capabilities of the SFA!.

[ny1875]

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Yes, I was with you in having serious doubts that these debts had been settled earlier. If they had it would have been shouted from the rooftops! It's also strange that they have to wait another 8 months or so before paying the final £23k. Why not pay it now? After all that's only about 20% of what they collected from us on our visit to PBS this season. I wonder if the SFA have been involved here. Theoretically Yams should not have been allowed to play before these debts were settled unless of course there was an agreed payment plan though that seems beyond the capabilities of the SFA!.

They also bring in a few decent quality signings at this level. I'm sure Gomis and the likes aren't the leagues lowest earners, yet they delay 'paltry' sums such as £23k

[CropleyWasGod]

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Yes, I was with you in having serious doubts that these debts had been settled earlier. If they had it would have been shouted from the rooftops! It's also strange that they have to wait another 8 months or so before paying the final £23k. Why not pay it now? After all that's only about 20% of what they collected from us on our visit to PBS this season. I wonder if the SFA have been involved here. Theoretically Yams should not have been allowed to play before these debts were settled unless of course there was an agreed payment plan though that seems beyond the capabilities of the SFA!.

As I read the piece, it looks like that £23k wasn't actually payable until next season. So, technically, it's not late yet.

I do agree, though, that it was my understanding that all football debts had to be settled before granting the club a licence. I think commercial expediency has won out over technical interpretation.

[grunt]

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I think commercial expediency has won out over technical interpretation.

You mean they bent the rules?

[Bostonhibby]

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You mean they bent the rules?

Again, surely it would have been so much simpler if they just owed it to themselves like the last time when all was fine and dandy in planet yam?

[greenginger]

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As I read the piece, it looks like that £23k wasn't actually payable until next season. So, technically, it's not late yet.

I do agree, though, that it was my understanding that all football debts had to be settled before granting the club a licence. I think commercial expediency has won out over technical interpretation.

Also, I seem to remember an earlier statement from the FoH that they intended to negotiate with the football creditors about settlement.

I wonder if any creditors accepted less for an early settlement or Liverpool say wrote the amount off as it is loose change to them.

Not much chance of Barry asking a pertinent question,is there ? ie how much was actually paid.

[CropleyWasGod]

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Also, I seem to remember an earlier statement from the FoH that they intended to negotiate with the football creditors about settlement.

I wonder if any creditors accepted less for an early settlement or Liverpool say wrote the amount off as it is loose change to them.

Not much chance of Barry asking a pertinent question,is there ? ie how much was actually paid.

According to the Herald, one ex-player wrote his debt off.

[Hibby Gav]

They really are such a parasite of a club....yet the sportsound etc promote them like hard done to heroes.....
Edinburghs disgrace......

Thank God I'm a Hibby !

ggtth

[Col2]

Fair play to them for doing what they should have.

We are quick to critisise but we can't deny that Budge has acted with professionalism and dignity since she was appointed unlike the clowns that were running the club before hand.

They will still be the club that went bust and impacted £28m of creditors while benefiting from a clean slate. BUT Budge can't be held responsible for that.

[Spike Mandela]

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Fair play to them for doing what they should have.

We are quick to critisise but we can't deny that Budge has acted with professionalism and dignity since she was appointed unlike the clowns that were running the club before hand.

They will still be the club that went bust and impacted £28m of creditors while benefiting from a clean slate. BUT Budge can't be held responsible for that.

Hearts as a club can though but try getting a supporter to admit it. Too busy drowning all reality out with their self congratulatory back slapping.

[greenginger]

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According to the Herald, one ex-player wrote his debt off.

Hope it was'nt Andy Driver , he was owed about £ 80,000 IIRC.

[Kaiser1962]

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Fair play to them for doing what they should have.

We are quick to critisise but we can't deny that Budge has acted with professionalism and dignity since she was appointed unlike the clowns that were running the club before hand.

They will still be the club that went bust and impacted £28m of creditors while benefiting from a clean slate. BUT Budge can't be held responsible for that.

What is often overlooked is there was a further £18.7m of debt forgiveness, £22m of debt for equity swaps (which the Yam's disregard as it was a "legitimate business transaction") and some dodgy looking inter-co invoices between the Yams and FC Kaunas for a few million more.

[jacomo]

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Hearts as a club can though but try getting a supporter to admit it. Too busy drowning all reality out with their self congratulatory back slapping.

They should be docked 20 points with immediate effect for their cheating ways.*

*Blatant Jambo Kickback click bait.

[Cameron1875]

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According to the Herald, one ex-player wrote his debt off.

Not sure I believe that to be honest. Decent PR spin again from them though.

[hibs0666]

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Fair play to them for doing what they should have.

We are quick to critisise but we can't deny that Budge has acted with professionalism and dignity since she was appointed unlike the clowns that were running the club before hand.

They will still be the club that went bust and impacted £28m of creditors while benefiting from a clean slate. BUT Budge can't be held responsible for that.

Nah, she was just the parasite that stepped in to pick up the assets cheap when the debt was shed, and got the mug punters to underwrite her 'investment'.

Then she has the nerve to feel sympathy for us after her club had robbed over £60 million from Lithuanian taxpayers to win a couple of trophies.

No way will I associate her with professionalism or dignity.

[Chibs]

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Nah, she was just the parasite that stepped in to pick up the assets cheap when the debt was shed, and got the mug punters to underwrite her 'investment'.

correct

[Hibernia&Alba]

[QUOTE=malagahibby;4221606]

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[url]http://www.heraldscotland.com/sport/football/football-debt-settled-as-club-step-closer-to-fan-

So all in all they paid just over 3m for a 29m debt.
They call The Rangers cheats ?
Unreal.

Why don't we all just do the same, so creating a level playing field? Buy ourselves a couple of trophies via massive overspending, walk away from the debt and carry on our merry way?


Rhetorical questions, of course.

[buktapurple79]

Vile 'club'

[Forza Fred]

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correct

I hate the Yams but I see ms Budge as someone who got involved because of her affection for the club.

Not as business opportunity.

I'm sure she recognises that there are much better, hassle free business opportunities than being involved in a football club in all fairness to her

[givescotlandfreedom]

Maybe if Mrs Budge was so nice she'd see some of the money the club stole from their charities, the ambulance service, the taxman and small businesses was paid back instead of signing players on high wages and making many of us uncomfortable with their indignity in relation to the war and their apparently single handed victory in it.

[Chibs]

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I hate the Yams but I see ms Budge as someone who got involved because of her affection for the club.

Not as business opportunity.

I'm sure she recognises that there are much better, hassle free business opportunities than being involved in a football club in all fairness to her

ok we will see in the fullness of time.