Share Transfers Agreed/Cooling off period

[EuanH78]

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I zapped it because the link was dead. And as you'll see I've posted again without the link

Things are backing up rapidly it seems

I see what you did there

[Www1875hfc]

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You'd think they'd have the sense to remove this by now,

http://www.heartsfc.co.uk/articles/2...241749_1091705

:fenlon

Has anybody got the pic wi flying pigs wi the new £51 million main stand in the background ?

[Tyler Durden]

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When the debt was up at around £36m they were paying £5000 every day in interest. At £24m it wouldn't be unreasonable to pitch that figure at around £3500.

That's the benefit of owing money to yourself................. if you're Vlad

I think previous quotes from Fedotovas or one of Vlad's minions, indicated the interest was capitalised ie rolled up into the debt. So they've never serviced the debt basically. That's part of the reason I never believe the figures Hearts or the EEN quote their current debt at.

I love how Banderson makes the concept of being self sustaining such a unique noble venture. Total imbecile.

[Part/Time Supporter]

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We've been hearing about them going bust for ages. It won't happen.

Why?

[SteveHFC]

[SloopJB]

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Why?

It's perhaps better to think they wont go bust, if they do then it gets dealt with in the usual calm manner that is Hibs.net.
If they don't.... so what? didn't think they would anyway.

Washing machines have gone into overdrive because some have insisted that Hearts simply can't go on.

Well they have.

I know, I know. Say for long enough they will go bust and one day you or your great great grandchildren will be right.

[Saorsa]

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Has anybody got the pic wi flying pigs wi the new £51 million main stand in the background ?

Nae sign of the stadium, did find one of the flying pigs though

[WarringtonHibee]

I hope this is is the beginning of the end, can't wait for the filthy *******s to vanish. :fenlon

[BroxburnHibee]

Have they paid them yet?

[Part/Time Supporter]

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It's perhaps better to think they wont go bust, if they do then it gets dealt with in the usual calm manner that is Hibs.net.
If they don't.... so what? didn't think they would anyway.

Washing machines have gone into overdrive because some have insisted that Hearts simply can't go on.

Well they have.

I know, I know. Say for long enough they will go bust and one day you or your great great grandchildren will be right.

That's all psychology speaking, not an actual reason.

When folk were talking before about the Hearts situation 3-4 years ago, Romanov was funding them. The wage delays back then were caused by him being a bit irregular in that funding. They're still spending more than they're earning and they now have no outside source of finance. Unless they dump payroll (which they can't, as players have contracts) or gain outside finance (Romanov changes his mind), they will go bust.

[Mikey]

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Have they paid them yet?

Nope!

[ScottB]

So how can they actually keep trading at this point? I'm looking at Caversham and our other resident experts here...

Isn't it an offence to keep trading while knowing you are insolvent? This is a company with costs far beyond its income, it can't even meet its payroll obligations and its owner has publicly stated he won't fund them anymore. Surely that all paints a picture of a business that should be shut down?


Will the players grow some stones and actually complain and free themselves from their contracts this time? Again all public statements would suggest they aren't likely to be paid on time, maybe even at all. Surely Ryan Stevenson's poor wife will already be sick with the worry the moron has dumped her back into...


In any case, The SPL will have to act or Rangers, quite rightly in all honesty, will start kicking up a massive fuss if Hearts are let off with this crap yet again. They've had how many warnings and now a transfer embargo, yet still they continue. The club obviously knew the mess it was in, yet continues to buy players, and would presumably have tried to sign Skackel if they'd been allowed to. It's time for point deductions.

I suspect that will happen, they'll have at least 3 points docked, if not more if they miss more payments, then in January everyone who can be punted will be, if they haven't bailed on their contracts and they will struggle on with the youth team and could well go down. Vlad needs to keep them alive to allow his bank to keep feeding on all the debt payments, it doesn't matter what state they are in I suspect. I doubt they will 'die' but I reckon they will be in some state until they find someone to buy out the Mad One or he decides to put them out of their misery.

[Coco Bryce]

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Has anybody got the pic wi flying pigs wi the new £51 million main stand in the background ?

This one

homofcplanninghh7.jpg

[Dashing Bob S]

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That's all psychology speaking, not an actual reason.

When folk were talking before about the Hearts situation 3-4 years ago, Romanov was funding them. The wage delays back then were caused by him being a bit irregular in that funding. They're still spending more than they're earning and they now have no outside source of finance. Unless they dump payroll (which they can't, as players have contracts) or gain outside finance (Romanov changes his mind), they will go bust.

Like you, I suspect that this is the reasoning behind their current problems. Romanov has been emotionally distancing himself from the club, in concert with his winding down of financial support. It could be that he's simply lost interest or, probably more to the point, that he can no longer afford to lose more money on them. When they beat Gretna on the penalty shoot out, he was engaged and euphoric. When Thomson awarded them the final against us, he was distant and muted. Some Yam chums have seen this coming for a while - he's de facto pulled the plug. With the Huns demise and the recession, he has the 'general malaise of Scottish football' as his get out clause.

This one feels more like the end than previous ones, but most of us are so bored with them playing possum we now no longer care about the process by which the sink into oblivion, just wake us up when its done.

[Ozyhibby]

If the season ticket money is now gone, the SPL have paid them in full, they have spent all the extra cash they made from the cup final and the tie with Liverpool and now don't have enough money to cover the wages for this month, they will not see out the month without a payment being sent from Lithuania.
They have 2 home game with a max of 2000 paying customers at each. That would bring in £80,000. Their wage bill is around £800,000 a month. Someone is going to have to beg Vlad or else call in the administrators.
Am I missing something, are there any other sources of income at this time of year?

[Minder]

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If the season ticket money is now gone, the SPL have paid them in full, they have spent all the extra cash they made from the cup final and the tie with Liverpool and now don't have enough money to cover the wages for this month, they will not see out the month without a payment being sent from Lithuania.
They have 2 home game with a max of 2000 paying customers at each. That would bring in £80,000. Their wage bill is around £800,000 a month. Someone is going to have to beg Vlad or else call in the administrators.
Am I missing something, are there any other sources of income at this time of year?

They can always go guising!

[CallumLaidlaw]

http://m.scotsman.com/sport/football...oday-1-2588281

[Viva_Palmeiras]

Salmond has spoken - "the nonesense ends in 2014"

[Www1875hfc]

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This one

homofcplanninghh7.jpg

Thanks Coco, Thats the 1 ah was looking for.

[Peevemor]

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This one

homofcplanninghh7.jpg

They guy who put that together must be some sort of creative genius.

[hibbill2002]

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They can always go guising!

[Smiggy 7-0]

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Salmond has spoken - "the nonesense ends in 2014"

Salmond is a complete TWAT

[Craig_in_Prague]

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http://m.scotsman.com/sport/football...oday-1-2588281

"Hearts salaries have been behind schedule in seven of the past 12 months"

and yet they expect this month was the 'last' month they will face problems - How do they arrive at this conclusion?

Where is money going to come from between now and next pay, and the next pay and the one after that?

[#FromTheCapital]

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http://m.scotsman.com/sport/football...oday-1-2588281

What I dont understand is where they're getting the money to pay them today. I'm guessing its their 6 highest earners that haven't been paid which would amount to 10's if not 100's of thousands of pounds. If they couldn't pay them 3 days ago, what has happened in the last 3 days that has brought the new 'self sufficient' hearts that amount of money?

[Part/Time Supporter]

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"Hearts salaries have been behind schedule in seven of the past 12 months"

and yet they expect this month was the 'last' month they will face problems - How do they arrive at this conclusion?

Where is money going to come from between now and next pay, and the next pay and the one after that?

They're crossing their fingers that Romanov relents and chucks them a few million to prevent points deductions and/or administration.

[Mikey]

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What I dont understand is where they're getting the money to pay them today. I'm guessing its their 6 highest earners that haven't been paid which would amount to 10's if not 100's of thousands of pounds. If they couldn't pay them 3 days ago, what has happened in the last 3 days that has brought the new 'self sufficient' hearts that amount of money?

It could only be Vlad. I'd be very, very surprised if it happens though.

[Mikey]

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They're crossing their fingers that Romanov relents and chucks them a few million to prevent points deductions and/or administration.

That's exactly what it would be, as he won't see it again.

[Caversham Green]

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So how can they actually keep trading at this point? I'm looking at Caversham and our other resident experts here...

Isn't it an offence to keep trading while knowing you are insolvent? This is a company with costs far beyond its income, it can't even meet its payroll obligations and its owner has publicly stated he won't fund them anymore. Surely that all paints a picture of a business that should be shut down?


Will the players grow some stones and actually complain and free themselves from their contracts this time? Again all public statements would suggest they aren't likely to be paid on time, maybe even at all. Surely Ryan Stevenson's poor wife will already be sick with the worry the moron has dumped her back into...


In any case, The SPL will have to act or Rangers, quite rightly in all honesty, will start kicking up a massive fuss if Hearts are let off with this crap yet again. They've had how many warnings and now a transfer embargo, yet still they continue. The club obviously knew the mess it was in, yet continues to buy players, and would presumably have tried to sign Skackel if they'd been allowed to. It's time for point deductions.

I suspect that will happen, they'll have at least 3 points docked, if not more if they miss more payments, then in January everyone who can be punted will be, if they haven't bailed on their contracts and they will struggle on with the youth team and could well go down. Vlad needs to keep them alive to allow his bank to keep feeding on all the debt payments, it doesn't matter what state they are in I suspect. I doubt they will 'die' but I reckon they will be in some state until they find someone to buy out the Mad One or he decides to put them out of their misery.

The trading while insolvent thing is a bit misleading. Broadly the rule is that if the directors incurred costs when they knew (or should have known) that the company would be unable to pay them then they could be held personally liable for those costs. This can only happen when the company suffers an insolvency event because until then the creditors will have an expectation of full payment. As it's written, the law is very strict and very clear, but in practice it doesn't seem to be pursued very strongly. The directors should be worried though, because if an insolvency event does take place they have very little defence against any lawsuit. In my long career I've advised directors to stop trading immediately (and that does mean NOW) maybe half a dozen times, but I've never seen a company in as bad shape as HoMFC is right now. I can honestly say that I wouldn't be at all surprised if we woke up one morning to find Tynie closed for good, particularly given Mr Romanov's recent comments and attitude.

[Hibbie0762]

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When the debt was up at around £36m they were paying £5000 every day in interest. At £24m it wouldn't be unreasonable to pitch that figure at around £3500.

That's the benefit of owing money to yourself................. if you're Vlad

Wow. On a rough calculation I make that approx 2,000 extra walk-up fans every fortnight just to service the debt, before they even start on their oversize wage bill. But of course with a fanbase of 400,000 that shouldn't be too much of a problem for the Big Team

[green glory]

A lot of news sources now reporting they expect to have everyone paid by the end of today.