Share Transfers Agreed/Cooling off period

[Beefster]

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If the Yams had any sense, and wanted to put their money to use, they'd wait til the curtain comes down on their club and invest in whatever version of Hearts comes from the remains. That way their hard-earned (or state given, as is more likely the case with them) cash will actually be put to use, rather than flushed down the toilet.

A couple of my Yam mates are declining to throw money in the share issue as they think that administration/liquidation is an absolute certainty and are keeping their cash for whatever comes out of the other end.

[jacomo]

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There is NO DOUBT that Romanov will pay the 450k and funds will be there to keep them going to season-end at which point they will re-group.

What's stopping him then?

Vlad currently has the begging bowl out for £1.79m... except it was marketed as an "investment" in the club's future.

Yesterday, Hearts were forced to issue a statement to say that the information in their share issue brochure is now inaccurate because a new problem has surfaced. Don't you think they would have done anything to avoid that?

[matty_f]

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A couple of my Yam mates are declining to throw money in the share issue as they think that administration/liquidation is an absolute certainty and are keeping their cash for whatever comes out of the other end.

It would be the sensible thing to do. The share issue blatantly isn't enough to see them to the end of the season so they're odds on to go bust at some point, at which point ALL of the money raised by fans is lost completely and their shares are worthless (as if they weren't already...)

Anyone with half a brain in their head (and that rules out most of them, I know) would see that it would be a much better use of the money, and much better for the club, to let it go pop then invest in the new club as it'll be starting debt free so the finance raised will actually be useful.

[hibs0666]

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There is NO DOUBT that Romanov will pay the 450k and funds will be there to keep them going to season-end at which point they will re-group.

Do you really think that Romanov will pump in the necessary:

• a half million to pay the wee tax case
• four million to settle the big tax case (quote from wristy Robbo on the radio last night and he should know)
• 2 million to pay the club's running costs to the end of the season?

You might be right. Personally I do not think that there is a cat's chance in hell of Vlad being able or willing to pony up this amount when the club is pretty much worthless.

[Sergey]

It looks like their holding bank (Ukio) are in trouble, as there's been a run on their shares this week with a 10% drop in value.

http://www.nasdaqomxbaltic.com/marke...12&period=week

[PatHead]

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There is NO DOUBT that Romanov will pay the 450k and funds will be there to keep them going to season-end at which point they will re-group.

I really am not so sure.

Hearts are continuing to lose money at an alarming rate. What advantage is there to Romanov to keep them going until the end of the season? No-one is going to buy them unless he waives the debt. That won't happen for 2 reasons. 1.He can't afford to now. (The debt is almost half his stated wealth) and 2 He stands to get more back by shutting them down and selling off the land.

I personally think he is currently trying to get one last payday from the fans before closing it down. If they buy his shares they are effectively reducing the debt by £1.7 million (assuming they do fully subscribe). As the only secured creditor he gets his dabs on the money once liquidation costs are deducted.

He may pay the £450k tax bill to keep them going until the share issue in the hope that it will raise a lot more than £450k he has shelled out. He may also get a couple of transfer fees in January which once again would reduce debt thus increasing his payout.

Romanov has stated that he wants out and has no interest in football now. He has a history of walking away from clubs without any thought for the supporters. (look at Kaunus and Minsk).

In a cold business sense it is not logical for Hearts to limp on until the end of the season.

[Stevie Reid]

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Absolutely prepared to get shot down for this (riot gear at the ready) but this all brings back to me the haunting memories of Hands off Hibs and the Mercer saga - I've kind of nailed my opinion to the notice board in that whilst Hearts have absolutely brought this on themselves, I can't help but feel it would make our mid to long term a less more interesting and exciting.

I just love the derby and all it brings - no matter who is on top, better, more or less successful. I'd really miss it - and I suppose I'm maybe in the minority that knows people that work for Hearts and its jobs, livelihoods and the club on the line. I know I was devastated when I thought Hibs were going under.

I had a very enlightening chat yesterday with a former Hibs player - he recalled three stories, under three Hibs managers, where Hearts gazumped Hibs for players we'd had on trial and/or waiting to sign - not under Romanov I hasten to add. So they have, quite literally, been adopting the 'we will spend more than Hibs' policy for years - it's all coming home to roost - I was really surprised regards one of the players who nearly became a Hibee.

I want tax paid, bills paid to small traders who are owed money, and guys like Romanov to be responsible for their mismanagement. I do want Hearts punished for what essentially has been financial doping - but do I want them to disappear - no ! I think after the initial elation for many, as Joni Mitchell sang, 'you don't know what you got til it's gone' - and I want Hearts to be there to beat - again, and again, and again !

Hearts have been at it for years and years and years. Towards the end of Mercer's time, the days of signing Derek Ferguson and John Robertson for hundreds of thousands of pounds were well gone, and they had bargain basement managers in Tommy McLean and Sandy Clark, and were signing players such as Craig Nelson and Willie Jamieson. Enter the Pieman and things changed up again.

Jefferies was acquired from Falkirk and the money was spent again, initially on the likes of Rousset, Bruno and (wait for it) Eskillson, but more crucial signings were the likes of McCann, Cameron and Weir - these were not only players that we were also after, but were players that had been funded by Hearts getting extension after extension to keep the away end of Tynie open in the disgraceful state it was in, long after all other teams in the league (us very much included) had used any funds or available borrowing to get their stadium sorted to all seater in compliance with the Taylor Report. Hibs sacrificed signing quality for the sake of infrastructure and were ultimately relegated (although Jim Duffy rightly took the sole blame for that, replacing the likes of Michael O'Neill with Ian Cameron didn't do much for Miller in the eyes of a support of whom many he never really convinced) - Hearts spent money they didn't have on the team at the expense of their stadium, and won the Scottish Cup.

When Robinson then realised that winning the Scottish didn't generate the revenue required, the SMG money was acquired, and again spent on players - the debt built up to £20M, the sale of Tynecastle was agreed, and desperate Hearts turned to Romanov. We know the rest - they have been at it for more than a generation, and it looks like it may finally bring about their end.

[Matty_Jack04]

Vlad has left his 'sporting empire' to crumble cause he's lost interest he's also said this many times publicly, I wouldn't be too confident of him stepping in with a big cheque to save the day, also the only way he'l make anything from hearts is by liquidating as he/ubig will be major creditors? So faulkes and swans can kiss goodbye to there knock down price rescue packages that's pie in the sky chat trying to drum up support possibly to be the men in charge of yamco when the time comes. It's over for them look at Kaunas vlad left them to rot why are they any different

[McPhisto2]

http://local.stv.tv/edinburgh/199446...-for-the-club/

A director of Heart of Midlothian FC has said "a solution will be found" for the crisis hit club.

Sergejus Fedotovas flew into Edinburgh on Thursday morning to start talks on how to save the Tynecastle team.
Speaking exclusively to STV as he arrived at the stadium, he said they club would not go into administration.
Mr Fedotovas said: "I don’t believe that this is the end of Hearts. I am confident a solution will be found."
He also suggested that Scottish football as a whole had problems rather than just Hearts.
Representatives from the club's Supporter's Trust are meeting with Mr Fedotovas on Thursday evening.
It comes after HM Revenue and Customs lodged a winding up order against the club over an unpaid £450,000 tax bill.
The tax authority presented a petition to the Court of Session in Edinburgh to place the SPL club owned by Vladimir Romanov into liquidation earlier this month.
It is understood that the Tynecastle club is facing the action from HMRC over unpaid PAYE and National Insurance dating back several months, which is separate from their ongoing troubles with the tax authority.
Although the club said they were trying to sort out a payment plan with HMRC for the outstanding money, they later issued a plea to fans for help. Urging them to invest in the recently launched share scheme and buy tickets for three key upcoming games, they said we "could be entering the final days of the club's existence".
The latest dispute with the tax authority comes as Hearts are challenging a £1.75m bill at the First Tier Tax Tribunal relating to players loaned to the club by Lithuanian club FBK Kaunas, which is also owned by Mr Romanov.
Hearts recently launched a fans’ share issue for a 10% stake in the club, which the board denies would be used to raise around £1.79m in order to pay off its tax debt.
They are now urging fans to opt into the share scheme and buy tickets for three key upcoming games to help the club pay its tax bill.
Dany Brunton, a young coach with Hearts, has told fans he is donating his November wages to the club and urging supporters to "dig deep" to help their team.

[Hibee Ryan]

They're either gone, going or are going to be so weakened that relegation is definite.... Losing McGowan, Zalukias and Webster would be too much for them at the end of the season even if they manage to survive! This city is going to be ours from now on and I AM F****** LOVING IT GGTTH

[Phil D. Rolls]

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http://local.stv.tv/edinburgh/199446...-for-the-club/

A director of Heart of Midlothian FC has said "a solution will be found" for the crisis hit club.

They are now urging fans to opt into the share scheme and buy tickets for three key upcoming games to help the club pay its tax bill.
Dany Brunton, a young coach with Hearts, has told fans he is donating his November wages to the club and urging supporters to "dig deep" to help their team.

So is every other employee of Hearts, they just haven't been told yet.

[--------]

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That's it in a nutshell Windy.

They are F***ed, and wee Eck will have to find another club to support just like he had to find another brand of sausages to eat.

GGTTH

This may well be true, but it wouldn't hurt an email to your MSP or to Salmond himself just making your opposition clear.

[Hibee Ryan]

They can't do anything, just trying to make themselves look good in the hearts fans eyes

[Kato]

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Vlad has left his 'sporting empire' to crumble cause he's lost interest he's also said this many times publicly,

I think "lost interest" is a euphamism for "lost all my spare cash". People, especially the most gullible of Jambos*, think that Romanov still has a plan or is somehow waiting in the wings to swoop down and save Hearts. They forget the possibility that he has lost control of his businesses and just doesn't have a scooby what to do any more other than let them rot.

*98%

[--------]

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They can't do anything, just trying to make themselves look good in the hearts fans eyes

Well, a considerable section of the population of the Caldera are wondering why they're telking about helping Hearts when they refused to lift a finger for Rangers.

And there are lot more Rangers supporters than Hearts supporters.

[matty_f]

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http://local.stv.tv/edinburgh/199446...-for-the-club/

A director of Heart of Midlothian FC has said "a solution will be found" for the crisis hit club.

Sergejus Fedotovas flew into Edinburgh on Thursday morning to start talks on how to save the Tynecastle team.
Speaking exclusively to STV as he arrived at the stadium, he said they club would not go into administration.
Mr Fedotovas said: "I don’t believe that this is the end of Hearts. I am confident a solution will be found."
He also suggested that Scottish football as a whole had problems rather than just Hearts.
Representatives from the club's Supporter's Trust are meeting with Mr Fedotovas on Thursday evening.
It comes after HM Revenue and Customs lodged a winding up order against the club over an unpaid £450,000 tax bill.
The tax authority presented a petition to the Court of Session in Edinburgh to place the SPL club owned by Vladimir Romanov into liquidation earlier this month.
It is understood that the Tynecastle club is facing the action from HMRC over unpaid PAYE and National Insurance dating back several months, which is separate from their ongoing troubles with the tax authority.
Although the club said they were trying to sort out a payment plan with HMRC for the outstanding money, they later issued a plea to fans for help. Urging them to invest in the recently launched share scheme and buy tickets for three key upcoming games, they said we "could be entering the final days of the club's existence".
The latest dispute with the tax authority comes as Hearts are challenging a £1.75m bill at the First Tier Tax Tribunal relating to players loaned to the club by Lithuanian club FBK Kaunas, which is also owned by Mr Romanov.
Hearts recently launched a fans’ share issue for a 10% stake in the club, which the board denies would be used to raise around £1.79m in order to pay off its tax debt.
They are now urging fans to opt into the share scheme and buy tickets for three key upcoming games to help the club pay its tax bill.
Dany Brunton, a young coach with Hearts, has told fans he is donating his November wages to the club and urging supporters to "dig deep" to help their team.

I've just had it pointed out to me that Craig Whyte made similar claims about how Rangers wouldn't go belly-up shortly before they, erm, went belly-up.

[Sir David Gray]

Nothing would surprise me where Salmond and the SNP's concerned. It won't affect me as I don't vote for them anyway but if there is a hint of them trying to help Hearts out then it will signal the end of their independence aspirations.

[JPrinty]

Fat Robbo's just been on Talksport with the begging bowl out again!

[Hainan Hibs]

At least it provides the opportunity for the "Ahm nae voting fur fat arrogant jambo Eck" rants.

It's not hard to understand it is all bluster.

[Thecat23]

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Fat Robbo's just been on Talksport with the begging bowl out again!

That was just him begging for more lunch money, wait till he starts begging for the Hearts cause.

[Bristolhibby]

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Yup, like Rangers they are cheating every other taxpayer in the country, if this was just a company instead of a football club those same politicians would be slaughtering them.

Like Vodafone, eBay or Amazon?

If your big enough, you can get away with it. Fortunately Hearts arent.

J

[Speedway]

Apologies if this has been pointed out already, but has anyone else noticed a certain irony of a team in desperate need of a short term cash boost being sponsored by Wonga.Com?

[McPhisto2]

I know its a crap thing to do, but can't stop looking over at keechback.

Lots of them saying they've bought or will be buying shares etc but I can't help thinking to myself that isn't it universally understood at this point in time that no matter how much they raise through this issue, it still won't be enough? I mean, Fat Robbo's been on talksport, the club with their desperate pleas have been bleating but anyone with any financial nouse about them is still saying this is essentially a futile excercise.

So, why are they doing it?

[Craig_in_Prague]

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That was just him begging for more lunch money, wait till he starts begging for the Hearts cause.

PMSL

maybe he should go round begging to Greggs. He's invested plenty into them, they should be minted.

[Dalkeith]

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That was just him begging for more lunch money, wait till he starts begging for the Hearts cause.

Sergei Fedotovas will make statement on friday according to pish drawers on sky sports news

[Beefster]

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Like Vodafone, eBay or Amazon?

If your big enough, you can get away with it. Fortunately Hearts arent.

J

There's a massive difference between minimising taxes paid legally, like the companies you mention, and not paying PAYE etc like Rangers and Hearts.

[hibsmad]

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Typical people reacting to headlines without thinking. The Scottish Government won't do anything more that they did for the Huns.

As for Alex Salmond being a Yam, fair enough but he's not going to jump in with both feet on this issue.

Scotland's future is more important than one football club, regardless of whether he supports them or not, and he's perfectly aware of that.

I find it incredible people would allow their view on independence to be swayed over this.

Independence isn't about Alex Salmond or the SNP. There is a growing support for it amongst supporters of other parties as the Yes campaign and Labour for Independence demonstrate.

Fear not, hell awaits for Hearts.

I wouldn't worry about people voting against independence based on anything being said on this matter. A few posters have have said that they would vote against Salmond IF they help Hearts financially. There is ZERO chance of this happening.

I am sure therefore that when the vote comes around that it will be conducted in a fair manner with no anti Hearts bias directed towards the SNP from Hibs fans.

[Hibs Class]

On hearing the news of impending doom George sought out Mr Romanov to offer his congratulations

Foulkes.jpg

[Kato]

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I know its a crap thing to do, but can't stop looking over at keechback.

Lots of them saying they've bought or will be buying shares etc but I can't help thinking to myself that isn't it universally understood at this point in time that no matter how much they raise through this issue, it still won't be enough? I mean, Fat Robbo's been on talksport, the club with their desperate pleas have been bleating but anyone with any financial nouse about them is still saying this is essentially a futile excercise.

So, why are they doing it?

Brainless lemmings.

[EskbankHibby]

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Like Vodafone, eBay or Amazon?

If your big enough, you can get away with it. Fortunately Hearts arent.

J

See response from beefster Jamie.

Paying minimal taxes with enormous turnover, whilst morally questionable, is not in the same ballpark as actually witholding PAYE/NI.

You're just worried about not coming up for a derby ever again.