Share Transfers Agreed/Cooling off period

[StevieC]

"The accounts in the Bank were owned by offshore companies: Korofalt Ventures Ltd, Mita Group Ltd"

This immediately brought back memories of their shirt sponsor in 1986

Mita won the league, Mita won the cup

[jabis]

after reading that it's no wonder Fatty Foulkes has gone quiet

[SteveHFC]

A SCANDINAVIAN consortium is piecing together a takeover bid to buy Hearts.

SunSport can reveal a group of six, who all studied in Edinburgh, have come up with a deal to buy out Vladimir Romanov. And they want the Hearts Foundation fans’ group on board to help run the club.
The consortium, whose ages range from 40 to 60 and span business backgrounds in banking, oil engineering, shipping and venture capitalism, would look to run things along a Scandinavian-type model.
That would see the club split into a separate sporting body and limited company.
The Hearts Foundation would control the former, with the new consortium managing the latter.
The sporting body would make money from selling its commercial rights to the limited company at the latest market rates.
Additional funds would be raised through a membership scheme — similar to the one used by German clubs — along with transfer income and a ticket revenue agreement.
It’s likely there would be NO cash injections from the potential new owners, who would expect the sporting arm to be self sustainable.
They would know their budget at the start of each season, leaving them free from the instability that has dogged the Tynecastle club.
SunSport understands provisional talks have already taken place between a consultant the consortium have used and the Foundation.
It’s hoped terms can be put to the fans’ group next week. But as yet no dialogue has taken place with Hearts directors.
Romanov has slapped a £50m price tag on the club, but they currently have debts of around £22.4m and it would be likely the Scandinavians would look to do a deal in the region of £10-£15m.
It’s understood the group members are based in Norway and Sweden and have been involved in ownership of clubs in Scandinavia in the past, although at a minor level.
Three of the group would take a more active part, with the remaining three taking a back seat.
They would lean on the experience of Norwegian football, which has just entered into a period of stability after previous overspending left clubs struggling.
A source close to the consortium said: “It’s still early days but the consortium have looked into this and haven’t run away.
“This model would be built on a realistic assessment of a club the size of Hearts.
“There’s no reason why the club shouldn’t be the third biggest in the country and challenging.”

Read more: http://www.thesun.co.uk/sol/homepage...#ixzz2IqeejxO4

[Viva_Palmeiras]

Gurrrr-deee-chickee!

At least the catering an masseus would be sorted. Sauna bill would rocket ;)

[Chibs]

Got as far as sunsport can reveal and stopped reading.
Complete and utter PISH

[Spike Mandela]

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A SCANDINAVIAN consortium is piecing together a takeover bid to buy Hearts.

Romanov has slapped a £50m price tag on the club, but they currently have debts of around £22.4m and it would be likely the Scandinavians would look to do a deal in the region of £10-£15m.

Read more: http://www.thesun.co.uk/sol/homepage...#ixzz2IqeejxO4

Hold on, the journalist has forgotten to add that of course Vlad owes the debt to himself

[Greendub]

The norwegian league is worse than the Scottish league

So I hope they do take over hearts, and they float down through the leagues to the bottom

[rcarter1]

Would be typical for Hearts to slide out from under a rock. Kind of hope something happens though, because all this will they wont they is getting a little trying. God forbid they start pumping money into them however....

[bingo70]

I can't see a consortium with no emotional link to hearts just paying 8-10m with no likelihood of getting a return, far more likely to be similar to the glazier deal at utd where they borrow the money and then add it to hearts debt, they'd then have to finally start living within there means, pay back the debt and still need to renovate their stadium.

In the unlikely event this deal comes off although it isn't the sexy doomsday outcome we hoped for the future still wouldn't look too rosy for them imo.

[Www1875hfc]

If this deal goes through,the puddle drinkers could get Ikea to build a main stand for them?

[Viva_Palmeiras]

Good old Craig Whtye was a venture capitalist was he not?

[Mon Dieu4]

like how they have all these plans but no one has actually talked to the main man yet, its the equivalent of me and my pals having a chat about how we are going to take over Apple

[hibsbollah]

Six ex-students want to play Championship Manager all day in real life.

I take it its a slow news day at the Bun?

[Pretty Boy]

'Sunsport can reveal', an anonymous source so no direct quotes from anyone and the revelation that no one has even bothered to tell Romanov of this master plan?

Well I'm convinced. No doubt the Fuds will be lubing up for their latest saviour. 6 men rather than 1 this time though, looks like they are getting a bit kinky.

Also they should be the 'third biggest club in the country'???

Surely some mistake they have 400 000 fans and are the big team.

[Hibrandenburg]

They should maybe just buy the club history and set up new in Hammerfest.

[Mon Dieu4]

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Six ex-students want to play Championship Manager all day in real life.

I take it its a slow news day at the Bun?

the killing part 4 could be set at the Wongadome

[HIBERNIAN-0762]

What a load of undiluted pash, there is no way, repeat no way the crackpot will accept this bid, he has the yaks by the buster browns and won't let them go to this lot, what a joke!

[EskbankHibby]

Mikey Forrester? Norwegian investors?

[Jack]

It’s understood the group members are based in Norway and Sweden and have been involved in ownership of clubs in Scandinavia in the past, although at a minor level.

Another pile of *****.

A look at the actual state of the club, even debt free, and the cash it would take to bring them into the middle of last century, never mind this, will see this lot scarpper. Their dewy eyed / pished student memories of 20/40 years ago will assume, quite rightly, that the stadium is now European compliant – instead its a subject of some controversy that its allowed to stay open at all in its present state.

As for the bit I’ve highlighted.

There's a few on here have ownership at a minor level, aka a few shares in Hibs.

Fancy putting in a bid? I’m sure between us we could have these Foundation (more the powder puff stuff wimin used to use although the liquid[ation] has potential for a joke, rather than anything substantial) folk running to the press with tales of a syndicate saviours a few from the North and other investors from the East.

Do you think the Foundation have any cash? Some sting that could be. I’ll have to give it some thought.

[#FromTheCapital]

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Mikey Forrester? Norwegian investors?

[blackpoolhibs]

Anyone find it funny that a club squillions in debt, and a stadium that needs pulling down and built again, have people interested in buying them?

And a team in the same league, same city with little debt and a brand spanking new stadium struggle to get one, or even new investment?

Surely this consortium would be better investing in Hibs, or maybe the whole story is a complete load of pish?

[joe breezy]

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Anyone find it funny that a club squillions in debt, and a stadium that needs pulling down and built again, have people interested in buying them?

And a team in the same league, same city with little debt and a brand spanking new stadium struggle to get one, or even new investment?

Surely this consortium would be better investing in Hibs, or maybe the whole story is a complete load of pish?

Yeah there's a better deal to be had at ER, maybe Mr Farmer should issue a press release re the potential investment opportunity

[jdships]

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I can't see a consortium with no emotional link to hearts just paying 8-10m with no likelihood of getting a return, far more likely to be similar to the glazier deal at utd where they borrow the money and then add it to hearts debt, they'd then have to finally start living within there means, pay back the debt and still need to renovate their stadium.

In the unlikely event this deal comes off although it isn't the sexy doomsday outcome we hoped for the future still wouldn't look too rosy for them imo.

I have a friend ( now retired) who worked with Deloitte as a ' Liquidation Administrator' and above is almost to the letter what he said to me yesterday !!!

They would have two options
Live within their means or slide back into the financial abyss

Interesting times ahead at PBS methinks

[Bostonhibby]

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'Sunsport can reveal', an anonymous source so no direct quotes from anyone and the revelation that no one has even bothered to tell Romanov of this master plan?

Well I'm convinced. No doubt the Fuds will be lubing up for their latest saviour. 6 men rather than 1 this time though, looks like they are getting a bit kinky.

Who knows, maybe it's ABBA? Vlad is into all that 70's style dancing queen stuff and many of the Yaks still wear the gear so there must be a possibility................

[#FromTheCapital]

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I have a friend ( now retired) who worked with Deloitte as a ' Liquidation Administrator' and above is almost to the letter what he said to me yesterday !!!

They would have two options
Live within their means or slide back into the financial abyss

Interesting times ahead at PBS methinks

I don't want them just to live within their means, thats what every other team is doing. Hearts have been enjoying a fair amount of sucess over the years by not living within their means so I want them to be punished severely for that.
The best outcome hearts can possibly hope for in this whole mess is to live within their means. Wish they would just die

[MB62]

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Who knows, maybe it's ABBA? Vlad is into all that 70's style dancing queen stuff and many of the Yaks still wear the gear so there must be a possibility................

I think you've sussed it as thay are A Big Bundle of Arsoles

[1875er]

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Mikey Forrester? Norwegian investors?

Brilliant!!!

[hibsmad]

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I don't want them just to live within their means, thats what every other team is doing. Hearts have been enjoying a fair amount of sucess over the years by not living within their means so I want them to be punished severely for that.
The best outcome hearts can possibly hope for in this whole mess is to live within their means. Wish they would just die

I too share your wish.

However if they do manage to squirm out and find someone who is willing to borrow the money needed to buy out Vlad, while adding it to Hearts debt. Surely then living within their means would mean dealing with a budget far lower than ours while the debt is being repaid. This you would hope, would result in us pumping them a good few times over the years to come.

Not my favoured outcome but still not bad.

[Keith_M]

I'm not going to quote anyone, in order to protect the guilty, but....


Norwegian Investors? IKEA? ABBA?

You guys do know the latter two are actually SWEDISH?

[Bostonhibby]

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I'm not going to quote anyone, in order to protect the guilty, but....


Norwgian Investors? IKEA? ABBA?

You guys do know the latter two are actually SWEDISH?

Guilty as charged your honour, bit of a play on the term Scandinavian to suit my own ends, not that you would have expected the words to be twisted when discussing the fine upstanding institutions that are the yam bams and their owners.

When the Norwegians pull out the Swedes will be in like a flash, an investment opportunity like this doesn't come up that often. A Nigerian prince is next in line - just as soon as he gets his hands on their shareholders register he will write to them all, assuming they ever issue shares and create one.