Share Transfers Agreed/Cooling off period

[Emerald]

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So to be clear.

There is a total transfer ban on Hearts until they can provide assurance to the SPL that they are no longer in any deficit in terms of wages, bonuses and any other player remuneration.

Then once (IF!) the SPL have satisfaction that Hearts have paid their outstanding dues there will be an easing of the transfer embargo to allow limited player movement (one in, one out, under 21 etc). This is to remain in place until the end of the Season.

Therefore Hearts are now effectively under a limited transfer embargo (at best) until the end of the season with the specific proviso that they cannot increase their wage bill by £1 even if they can evidence that they are up to date with all remuneration.

Is that correct?

Yes but I also think the current embargo will remain even when they do settle their payment issues The SPL then has to be satisfied that they are paying wages on time for a period (unstated) before they lift the current embargo. Thats how I read it.

[--------]

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So to be clear.

There is a total transfer ban on Hearts until they can provide assurance to the SPL that they are no longer in any deficit in terms of wages, bonuses and any other player remuneration.

Then once (IF!) the SPL have satisfaction that Hearts have paid their outstanding dues there will be an easing of the transfer embargo to allow limited player movement (one in, one out, under 21 etc). This is to remain in place until the end of the Season.

Therefore Hearts are now effectively under a limited transfer embargo (at best) until the end of the season with the specific proviso that they cannot increase their wage bill by £1 even if they can evidence that they are up to date with all remuneration.

Is that correct?

This would be how I would read it.

"Hearts will be subject to restrictions in registering players until the summer after being found in breach of Scottish Premier League rules. The club are currently banned from signing players, punishment for late payments to staff. The embargo will continue until the SPL are satisfied the "remuneration default" is no longer ongoing.

However, if the ban is lifted Hearts will only be able to sign under-21 players until the end of the season. Other restrictions would include only being able to sign replacements for players who had departed and such replacements representing a lower "annualised employment cost" than the corresponding departing players."

They can't sign anyone at all right now.

The only possibility being offered them is that IF they sort out the present mess, at best they'll be allowed to sign only U-21 players until the end of the season - and direct replacements only for players who have left, provided the new guys are being paid less than the guys who have gone.

And even this doesn't happen unless they convince the SPL that they've paid all salaries, bonuses and expenses up to date.

[EskbankHibby]

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Is Petrie even anything special in SPL terms? I thought he was an SFA man?

EDIT - The current SPL Board is made up of Ralph Topping (SPL Chairman), Neil Doncaster (SPL Chief Executive), Eric Riley (Celtic FC), Stephen Thompson (Dundee United FC), Duncan Fraser (Aberdeen FC) and Michael Johnston (Kilmarnock FC).

From the SPL Website.

Makes no difference with jambo logic it would appear. Even if it was a massive conspiracy headed by Petrie, so what? What happened to 'no-one likes us we don't care' mantra, what do they expect? They could resolve all of their problems by paying what they are due.

Absolutely staggering lack of self awareness, the default setting is to blame everyone else instead of a little bit of self analysis and humility.

Rapidly losing any sympathy i had for these sycophantic fuds, so terrfied of Vlad they blame absolutely anything else for their predicament.

[bathhibby]

Does this mean they can't sell their big earner ?
If so this puts a greater financial strain on them
Or havevI missed something ?

[RyeSloan]

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Yes but I also think the current embargo will remain even when they do settle their payment issues The SPL then has to be satisfied that they are paying wages on time for a period (unstated) before they lift the current embargo. Thats how I read it.

The SPL statement says:

"if and when the Club satisfies the SPL Board that the Remuneration Default is no longer ongoing"

They do not state that this includes a period of on time payments..it merely states that they require confirmation that there is no outstanding dues (i.e the default in no longer ongoing) therefore I don’t see where the concept of an unstated period of ontime payments arises before they move onto embargo lite....not that it matters too much. Effectivley the SPL are now controlling Hearts transfer policy and they are not allowed to sign any senior players until the end of the season at best (if they get that far!)

[RyeSloan]

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This would be how I would read it.

"Hearts will be subject to restrictions in registering players until the summer after being found in breach of Scottish Premier League rules. The club are currently banned from signing players, punishment for late payments to staff. The embargo will continue until the SPL are satisfied the "remuneration default" is no longer ongoing.

However, if the ban is lifted Hearts will only be able to sign under-21 players until the end of the season. Other restrictions would include only being able to sign replacements for players who had departed and such replacements representing a lower "annualised employment cost" than the corresponding departing players."

They can't sign anyone at all right now.

The only possibility being offered them is that IF they sort out the present mess, at best they'll be allowed to sign only U-21 players until the end of the season - and direct replacements only for players who have left, provided the new guys are being paid less than the guys who have gone.

And even this doesn't happen unless they convince the SPL that they've paid all salaries, bonuses and expenses up to date.

And that differs from my summary how?

[Emerald]

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The SPL statement says:

"if and when the Club satisfies the SPL Board that the Remuneration Default is no longer ongoing"

They do not state that this includes a period of on time payments..it merely states that they require confirmation that there is no outstanding dues (i.e the default in no longer ongoing) therefore I don’t see where the concept of an unstated period of ontime payments arises before they move onto embargo lite....not that it matters too much. Effectivley the SPL are now controlling Hearts transfer policy and they are not allowed to sign any senior players until the end of the season at best (if they get that far!)

By that I assumed they meant that wages and bonuses would have to be back to getting paid on time. So if they had only got up to date with these payments, I wouldn't have thought that the SPL would be satisfied that it isn't still an ongoing issue. Surely they would have to show that wages were being paid on time for a period too? Thats what I read into it but may be wrong (hope not though).

[Famous5forever]

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Yes but I also think the current embargo will remain even when they do settle their payment issues The SPL then has to be satisfied that they are paying wages on time for a period (unstated) before they lift the current embargo. Thats how I read it.

They should be made ti show that no only wages are up to date paye vat should also be gettin paid on time evidence oh this should also be provided and what about polis and water rates council tax commercial rates they could be bumpin peter to pay paul just sayin.

[RyeSloan]

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By that I assumed they meant that wages and bonuses would have to be back to getting paid on time. So if they had only got up to date with these payments, I wouldn't have thought that the SPL would be satisfied that it isn't still an ongoing issue. Surely they would have to show that wages were being paid on time for a period too? Thats what I read into it but may be wrong (hope not though).

Aye it's open to interpretation that's for sure...either way they are stuffed more than a Christmas turkey

[Bostonhibby]

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Except they're not.

Read the ruling again.

Unless they want to sign under 21 players who are free agents after the window closes, the embargo only affects January because the one in one out rule stops at the end of the season.

It could be business as usual from May.

The SPL have hardly punished them.

This is my concern - if the SFA had just said nothing at all then the original embargo was in place - why was the change neccesary or required? Slip it in over the holiday period and hope no one notices - very happy to be wrong on this one but it feels like another we step towards helping out an establishment side.

The original ban and its terms would have done for the time being, yet out of the blue a wee bit of potentially helpful tinkering emerges - at this rate the SFA and SPL will be building them a megasuperstadium and defaulting them straight into the Champions league as compensation. They never even managed a sentence in support of Hibs or our fans during Wallygate.

[Bostonhibby]

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Aye it's open to interpretation that's for sure...either way they are stuffed more than a Christmas turkey

And there's many a yam who has been doing much worse than a mere stuffing to a Xmas turkey - the RSPCA are bound to have been inundated............

[Famous5forever]

They should have grew a pair and points deducted them.

[Ozyhibby]

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This is my concern - if the SFA had just said nothing at all then the original embargo was in place - why was the change neccesary or required? Slip it in over the holiday period and hope no one notices - very happy to be wrong on this one but it feels like another we step towards helping out an establishment side.

The original ban and its terms would have done for the time being, yet out of the blue a wee bit of potentially helpful tinkering emerges - at this rate the SFA and SPL will be building them a megasuperstadium and defaulting them straight into the Champions league as compensation. They never even managed a sentence in support of Hibs or our fans during Wallygate.

Nothing to do with SFA. The original ban is still in place and will remain so until they are up to date with wages.

[Bostonhibby]

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Nothing to do with SFA. The original ban is still in place and will remain so until they are up to date with wages.

Thanks, getting a bit punch drunk / drunk trying to keep up with who is doing what to help them.............

[s.a.m]

BBCBMcLauchlin‏@BBCBMcLauchlin#Hearts have agreed a fee with a club in China for defender Ryan McGowan. The player will travel to China later this week to discuss terms

[Danderhall Hibs]

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BBCBMcLauchlin‏@BBCBMcLauchlin#Hearts have agreed a fee with a club in China for defender Ryan McGowan. The player will travel to China later this week to discuss terms

I'm sure I read he never signed for Rangers because he was ambitious? He'll make a few bob over there but will soon become a forgotten man.

[GoldenEagle]

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BBCBMcLauchlin‏@BBCBMcLauchlin#Hearts have agreed a fee with a club in China for defender Ryan McGowan. The player will travel to China later this week to discuss terms

The derby means absolutely everything to Hearts and I'm sure it'll be after the 3rd.

[#FromTheCapital]

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BBCBMcLauchlin‏@BBCBMcLauchlin#Hearts have agreed a fee with a club in China for defender Ryan McGowan. The player will travel to China later this week to discuss terms

The further that wee scrote is away from edinburgh the better. Hopefully it's a bumpy ride for the wee ****

[Danderhall Hibs]

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The derby means absolutely everything to Hearts and I'm sure it'll be after the 3rd.

I agree but can they take the chance of an injury to McGowan which wound mean no sale?

[Ozyhibby]

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BBCBMcLauchlin‏@BBCBMcLauchlin#Hearts have agreed a fee with a club in China for defender Ryan McGowan. The player will travel to China later this week to discuss terms

Disappointing. Hope the fee was not a big one.

[superfurryhibby]

Just to throw one in from the leftfield. How does anyone know Rangers didnae pay them the money for Lee Wallace ( the 500,000k that they offered). I´m not very good with secrets.....

One could assume if that were true than Vlad was swindling every last penny out of the believer pockets before the end comes.

[Famous5forever]

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Disappointing. Hope the fee was not a big one.

ma thoughts exactly cat wi 20 blo-dy lives that lot fur the life oh me just when i think its the end tae they wriggle off the hook honest to god this thread will be over a thousand pages long and we will still be hoping damm it.

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Just to throw one in from the leftfield. How does anyone know Rangers didnae pay them the money for Lee Wallace ( the 500,000k that they offered). I´m not very good with secrets.....

One could assume if that were true than Vlad was swindling every last penny out of the believer pockets before the end comes.

am liking your post i never thought oh that yea selling everything he can before pulling the plug

[s.a.m]

Mark Donaldson‏@Donaldson007 Hearing that Hearts will get around 400k for Ryan McGowan if the player agrees $2m contract with Chinese club.

[CropleyWasGod]

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SRM HEARTS Ltd

ftp://wck2.companieshouse.gov.uk/ima...1-08303440.pdf

I thought I would have a look at the company that runs the Hearts Shop.

Directors Mr & Mrs Henderson and Mr Alexander. Who are they ?

Turnover just over £ 1 million, with creditors of £160 k at the end of the year of accounts. Corporation Tax of £ 15,759 to pay cos it is a separate company from the Club with its Zillions of losses.

Can't see the point in setting something up just to pay extra Tax ? but its down amongst the creditors so may'be it does not count.

Cav / CWG any logic in this set-up ?

My reading of that is that the Hearts shop is independent of the Club. If that's the case, they will buy the stock from the manufacturer, and pay a licence fee to HMFC.... or perhaps buy it from HMFC themselves.

It seems that they rent the property at £60k pa, presumably from HMFC.

Either way, it seems like a nice wee earner. A Net Profit of £71k could have been handy to the main company.

[cabbageandribs1875]

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The derby means absolutely everything to Hearts and I'm sure it'll be after the 3rd.

but will hertz or the player take a chance in picking up an injury ? :)

[Ozyhibby]

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Mark Donaldson‏@Donaldson007 Hearing that Hearts will get around 400k for Ryan McGowan if the player agrees $2m contract with Chinese club.

If the fee is that high then there is no chance they will risk him against us.
Probably pushes their demise a further month down the line.
Oh well. It will be worth the wait.

[HoboHarry]

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If the fee is that high then there is no chance they will risk him against us.
Probably pushes their demise a further month down the line.
Oh well. It will be worth the wait.

Isn't he out of contract in the summer? If he is I find it hard to believe they will get that much at this point.

[Bostonhibby]

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Isn't he out of contract in the summer? If he is I find it hard to believe they will get that much at this point.

Who knows? Links between Scotland and China on political and economic levels seem to be growing. Mybe the divine leader has intervened on behalf of his club,

[CB_NO3]

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Isn't he out of contract in the summer? If he is I find it hard to believe they will get that much at this point.

I find 400k hard to believe. Motherwell are only getting 100k for Murphy and he is a class act and been a proven SPL player for about 3 or 4 year.

[CropleyWasGod]

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They are banned from signing anyone untill they are all up to date with wages. They are already behind on last months and they need to shell out another £350k in 16 days time. The only home game before then is the Derby which was sold out weeks ago so no new income their then.
None of this really matters to them at all compared with their biggest problem which is that they are fast running out of cash. If they can make it to the end of January they are doing well.

Add to that:-

VAT bill due, I believe, on the 5th.

PAYE & NI due on the 22nd, which will be much larger than normal given that the deferred wages were paid up in December.