Share Transfers Agreed/Cooling off period

[lapsedhibee]

Today's i newspaper reporting Hearts' problems as being fall-out from the Huns being out of the SPL. No mention of the problems being the result of many years of yamathematical mismanagement.

[DaveF]

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Today's i newspaper reporting Hearts' problems as being fall-out from the Huns being out of the SPL. No mention of the problems being the result of many years of yamathematical mismanagement.

I wondered how long it would take for some media outlets to start peddling nonsense like this

[DarrenSQH]

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Today's i newspaper reporting Hearts' problems as being fall-out from the Huns being out of the SPL. No mention of the problems being the result of many years of yamathematical mismanagement.

What a joke, even last season the wage bill was 8 million with an income of 7 million. Put tax bills and running the club on top of that and they would still be on their deathbead if they had real madrid in the league never mind rangers.

[Baldy Foghorn]

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I wondered how long it would take for some media outlets to start peddling nonsense like this

I agree, the Media will do anything to enforce their message on just how vital Derhun are to our game.... Nothing to do with years of total mismanagement from the yams of course....

[Alex Trager]

Can anyone get me up to date exactly with what they owe and why they are on the brink? Or even point me in the direction of something that can tell me. I never kept up to with rangers but want to with this

[Saorsa]

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Today's i newspaper reporting Hearts' problems as being fall-out from the Huns being out of the SPL. No mention of the problems being the result of many years of yamathematical mismanagement.

They were having problems long before the huns fell of their perch. IMO just a load of media bull**** tae try and make it look like they were right about the fallout from the huns getting punted.

[Caversham Green]

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Can anyone get me up to date exactly with what they owe and why they are on the brink? Or even point me in the direction of something that can tell me. I never kept up to with rangers but want to with this

The short answer is no. The last published figures were for June 2011 when they had Net Debt of £24.03m (not the £22m they claim in their prospectus) and their total creditors (a far more relevant figure IMO) was £31.3m.

Any serious prospectus would give a far more up to date figure, particularly since the latest year end was four months ago, which suggests the current figures will be significantly higher, but there's no way of finding that out unless HoMFC release new accounts.

[grunt]

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Any serious prospectus would give a far more up to date figure, particularly since the latest year end was four months ago, which suggests the current figures will be significantly higher, but there's no way of finding that out unless HoMFC release new accounts.

According to Fedovotas at the weekend, the Board "believes" they made a profit last year, without the need for debt forgiveness. As you say Cav, strange that this is only a belief when the year end was four months ago. I would be very interested to understand how they've made a profit, as they had an £8m shortfall the previous year.

[Thecat23]

Hearts are in real bother now. I think we should start snapping up the naming rights so that when they try and reform like Sevco the can't call themselves "the hearts" or anything else regarding the name Hearts as we will have bought the rights to them

On a serious note though, was told last night that it's actually a lot worse than what they are letting on. We've heard it a lot over the years and we can be forgiven for thinking it's just another rumour. But believe me I know a few folk in football who have close contacts with Hearts. He has said Admin really is on the cards now more than ever. Also said there is no chance of players wages being paid on time either next month. Will just have to wait and see if he's right.

[Jack Hackett]

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Can anyone get me up to date exactly with what they owe and why they are on the brink? Or even point me in the direction of something that can tell me. I never kept up to with rangers but want to with this

Keep checking this link http://www.scotsman.com/the-scotsman/obituaries

[Liberal Hibby]

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Anyone clued up on Lithuanian politics? Sergey perhaps? not sure if this is good or bad but my guess is it doesn't sound good for Vlad.......

http://www.bbc.co.uk/news/world-europe-20113840

Don't think it makes a lot of difference - but certainly won't harm his interests give the election winning parties are more pro-Russian than the previous government. Lithuania's economic problems stem from the fact that people can always make more money working in other EU countries than in Lithuania (unless it's playing for Hearts ), so they have seen a massive decline in their population.

[Jack Hackett]

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According to Fedovotas at the weekend, the Board "believes" they made a profit last year, without the need for debt forgiveness. As you say Cav, strange that this is only a belief when the year end was four months ago. I would be very interested to understand how they've made a profit, as they had an £8m shortfall the previous year.

http://www.bbc.co.uk/sport/0/football/20115241

"The cost of the squad that won silverware [the Scottish Cup] last season is £8m and our income is just short of £7m. Also, we need to speak about the cost of running the business, running Tynecastle - that adds to the gap and there are no realistic chances of covering this gap by normal income. We've exhausted pretty much all possibilities."

[HUTCHYHIBBY]

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I've been wanting this since that FTB tried tae kill Hibs. I'll never forgive or forget that. I'm no fussed about the half dozen that turned up at HOH, 99% of them wanted tae see Hibs gone. I want them tae get everything that's coming their way and then some.


**** h****s

My feelings exactly.

[Treadstone]

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Can anyone get me up to date exactly with what they owe and why they are on the brink? Or even point me in the direction of something that can tell me. I never kept up to with rangers but want to with this

As Caversham Green says however I suggest opening this link and reading page 18.

http://view.vcab.com/?vcabid=gheSelg...2%2015:19:02-6

[Bad Martini]

Rangers ****ed.

Hearts going the same way.

In hope this is our ground hog day.

ENDOF

[supershotmo]

If their 400,000 worldwide fanbase cough up £5.00 each they will have £250k left.

[PatHead]

I know the tax tribunal meet next month but how long will it take for them to issue a decision and how many appeals will Hearts have? The Rangers one seems to have gone on for ages.

[Peevemor]

http://www.scotsman.com/edinburgh-ev...bill-1-2603765

[The_Sauz]

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All it needs is R.I.H at the bottom

[Gatecrasher]

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http://www.scotsman.com/edinburgh-ev...bill-1-2603765

Hearts must think their fans are zipped up the back.....oh wait

[matty_f]

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http://www.scotsman.com/edinburgh-ev...bill-1-2603765

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Assuming the club is successful in relation to the HMRC case referred to above, the offer, if fully subscribed, should provide the club with sufficient working capital to achieve its goals for the 2012/2013 season without requiring additional funding. However, if the HMRC case goes against the club and/or the offer is not fully subscribed, the Club may have insufficient working capital to achieve its goals for the 2012/2013 season and may have to seek additional sources of funding.

How does that sit with the insistance that the share issue won't cover the tax bill?

[Malthibby]

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How does that sit with the insistance that the share issue won't cover the tax bill?

Strangely enough, it doesn't.
Starting to believe that the end is truly nigh.
GG

[JeMeSouviens]

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How does that sit with the insistance that the share issue won't cover the tax bill?

It says that if the share issue is a success they might just have enough to last the season but if the tax case hits they'll be f***ed anyway.

... and the EEN says this is "reassuring".

Well, I suppose it's reassuring for us.

[Twiglet]

Maybe one of the financial whizzes will be able to answer this.
Just had a wee look at the brochure out of interest and I noticed that they're offering incentives to buy shares, like free tickets to matches, hospitality, signed shirts and free season tickets. Are they allowed to do this?
In financial services there's rules about gifts in return for business, could this be viewed in the same way?

[21.05.2016]

Those jokers have been living way beyond their means for years, playing players that they could nowhere near afford and they have gotten away with this cheating for years. Finally its caught up with them and they deserve everything they get. We have the same carry on with hearts every year and now its time something is actually done about it.

I wont miss them. I want them to go the exact same way as their pals from Glasgow did.

Rot in hell jambos :fenlon:giruy:

Tick Tock . . .

[HoboHarry]

Also for the financial gurus out there. There is a lot of talk of admin and Vlad leasing Tynecastle back to the new entity. Given that it seems clear that Ukio/Ubig need cash quickly, why would admin be better than liquidation and selling the ground? They may not get the full asking price but they would get a lump sum now.

[Phil MaGlass]

[Golden Bear]

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If their 400,000 worldwide fanbase cough up £5.00 each they will have £250k left.

Not sure if you have the facts correct there Mo.

I was lead to understand that the 400,000 fans related to those in the Edinburgh area alone and their worldwide fan base will be many, many times in excess of that.

Let's not forget that they really are a BIG team.

[CropleyWasGod]

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Also for the financial gurus out there. There is a lot of talk of admin and Vlad leasing Tynecastle back to the new entity. Given that it seems clear that Ukio/Ubig need cash quickly, why would admin be better than liquidation and selling the ground? They may not get the full asking price but they would get a lump sum now.

IMO, administration is very unlikely. If there is one, the administrators will come to a very quick decision that there is no alternative to liquidation.

[HoboHarry]

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IMO, administration is very unlikely. If there is one, the administrators will come to a very quick decision that there is no alternative to liquidation.

Thank you, pretty much what I thought and I really don't understand why they are not seeing that themselves unless it is blind emotion/optimism.