Share Transfers Agreed/Cooling off period

[Sergey]

@BBCBMcLauchlin
Hearts have agreed to accept £400,000 from Rangers as final payment for Lee Wallace. £500,000 was due to be paid in the summer#BBCSPORTSCOT

That doesn't even cover their tax liability that's due.

[mad giraffe]

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The audit opinion only provides assurance for the following accounting year, not beyond. Hearts' last set of accounts was to 30 June 2011 and it was signed off in May 2012. All the opinion is effectively saying is that they are assured that UBIG would continue to support HMFC until 30 June 2012.

The very fact that the (heavily qualified) audit opinion is signed and accounts are filed so late should be a warning sign to suppliers and would be buyers. Indeed, the FOH statement issued the other day complained about the lack of assistance from the HMFC board on this point, that the accounts are now 20 months behind.

I would have said 12 months from date of signature

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Which all begs the question - what exactly do auditors do, if the can only ever comment on the evidence offered to them? No crook is going to let an auditor have free rein on the books, and if the auditor can't enforce divulgence ... what a waste of time and money.

I think here the auditors did state they never had any info. The spl / uefa should have had rules in place to say this is unacceptable and insisted on the info.

[jacomo]

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That doesn't even cover their tax liability that's due.

Having been through their own financial crisis last year, it's touching to know that in times of need, the Huns will lend a hand to their fellow Diet Huns, doing all they can to help a fellow club who have fallen on hard times... Oh hang on, they've shafted them!

[Hermit Crab]

@BBCBMcLauchlin
Hearts have agreed to accept £400,000 from Rangers as final payment for Lee Wallace. £500,000 was due to be paid in the summer.


@BBCBMcLauchlin
Lithuanian Bank Ukio Bankas owned by Hearts majority shareholder collapsed with debts of around £376 million#bbcsportscot

...

[#FromTheCapital]

Hmm I wonder why they're so desperate to get the money now rather than wait a couple of months for an extra 100k.

Did hearts not turn down a similar offer from rangers not so long ago?

There could be trouble ahead (or fun for us hibees!) anyone seen any submarines getting loaded with cash recently???

[greenginger]

Does Hector know ? That half million was ring fenced to pay the first installment of the Yams tax dodging agreement. I think the time table of payments was so the first installment would be met.

Close them down now, its being merciful, don't you know.

Hmm I wonder why they're so desperate to get the money now rather than wait a couple of months for an extra 100k.
Did hearts not turn down a similar offer from rangers not so long ago?
There could be trouble ahead (or fun for us hibees!) anyone seen any submarines getting loaded with cash recently???

Or, could this be how the wages were paid on Friday, just be being revealed now ?

[jgl07]

Does Hector know ? That half million was ring fenced to pay the first installment of the Yams tax dodging agreement. I think the time table of payments was so the first installment would be met.

Close them down now, its being merciful, don't you know.

Can Hector not freeze Hearts banking facilities as appears to have happened to Coventry City?

They probably need the cash to pay the March wage bill. Next years season ticket money should deal with April and May but beyond that, no-one knows. I suspect that even the gullible Yams will keep hold of their season ticket money at this stage.

[EH6 Hibby]

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Hmm I wonder why they're so desperate to get the money now rather than wait a couple of months for an extra 100k.
Did hearts not turn down a similar offer from rangers not so long ago?
There could be trouble ahead (or fun for us hibees!) anyone seen any submarines getting loaded with cash recently???

They've got their normal tax bill due in a few days I think.

[DaveF]

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@BBCBMcLauchlin
Hearts have agreed to accept £400,000 from Rangers as final payment for Lee Wallace. £500,000 was due to be paid in the summer.

Excellent - That £400,000 will hopefully be straight into Vlad and co's back pocket. Surely it won't stay on these shores where Hearts can use it?

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They've got their normal tax bill due in a few days I think.

Tomorrow (22nd)

[Hibby Kay-Yay]

Where will they find x million due to UBIG at the end of the season?

[Mikey]

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They've got their normal tax bill due in a few days I think.

They do indeed. And courtesy of Rangers they can now pay it.

I wonder which rabbit they'll pull out of the hat to cover the next big bill?

[NOLA]

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Ha! Brings back memories, was at St Tams 87-93 and there was one Hearts fan in the whole school. Was a Hibs area that's for sure.

was it Johnny Doig his maither looked like his faither and his faither looked like a morlock.

[Spike Mandela]

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@BBCBMcLauchlin
Lithuanian Bank Ukio Bankas owned by Hearts majority shareholder collapsed with debts of around £376 million#bbcsportscot

woah, if you say it quick it doesn't sound like much.

[#FromTheCapital]

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They do indeed. And courtesy of Rangers they can now pay it.

I wonder which rabbit they'll pull out of the hat to cover the next big bill?

They must be running out of rabbits. The Wallace money and season ticket sales will be lucky to see them till the start of next season. What are they going to do then if they haven't already vanished?

[bingo70]

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They do indeed. And courtesy of Rangers they can now pay it.

I wonder which rabbit they'll pull out of the hat to cover the next big bill?

Driver says hertz will always be here so pressumably he knows?
Foulkes says hearts are self sufficient now so he's bound to know?

Either that or they're both a couple of slavering ****wits who still have no idea the **** they're in?

[Ozyhibby]

So 10% of the money the Hearts fans raised for the fake share issue went on giving a discount to the new Rangers?

[HibeeMG]

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So 10% of the money the Hearts fans raised for the fake share issue went on giving a discount to the new Rangers?

A fair and valid (unlike the share "issue") point.

[CropleyWasGod]

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They've got their normal tax bill due in a few days I think.

Tomorrow.

[Spike Mandela]

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They must be running out of rabbits. The Wallace money and season ticket sales will be lucky to see them till the start of next season. What are they going to do then if they haven't already vanished?

Haven't they still got Templeton money to come?

[johnbc70]

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was it Johnny Doig his maither looked like his faither and his faither looked like a morlock.

It was indeed! The only Hearts fan in the whole school!

[Treadstone]

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So 10% of the money the Hearts fans raised for the fake share issue went on giving a discount to the new Rangers?

Spot on.

Gies yer money cause we are going to fart away £100k for the sake of a few weeks.

#allisbarry

[Part/Time Supporter]

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Haven't they still got Templeton money to come?

No. Paid half in August and second half in November.

[Leithenhibby]

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No. Paid half in August and second half in November.

Yaasss.

Nae rabbits left, Shirley!!..........

http://www.youtube.com/watch?v=rCZO9xeYA8g

[crash]

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Excellent - That £400,000 will hopefully be straight into Vlad and co's back pocket. Surely it won't stay on these shores where Hearts can use it?

Coincidentally £400K is the figure I heard mentioned by someone with connections to Heriot Watt with respect to the rent owed to them by Hearts,although they havent till now wanted to rock the boat with their bedfellows at Riccarton,this news may well waken them from their slumber

[PatHead]

Hearts board recently attended a training course.


http://www.youtube.com/watch?v=LS70x-bQRWI

[Seveno]

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Can Hector not freeze Hearts banking facilities as appears to have happened to Coventry City?

They probably need the cash to pay the March wage bill. Next years season ticket money should deal with April and May but beyond that, no-one knows. I suspect that even the gullible Yams will keep hold of their season ticket money at this stage.

Which banking facilities would those be ? The Bank of Vlad's Back Pocket ?

[Hibernia Na Eir]

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They do indeed. And courtesy of Rangers they can now pay it.

I wonder which rabbit they'll pull out of the hat to cover the next big bill?

they'll stagger/lurch from week to week, month to month and no doubt finish up coming out a bucket of 5hite but smelling of roses....

That's the Hearts Way.

[Baldy Foghorn]

The merrick's Business Acumen knows no bounds......They really are desperate, and struggling to scrape money on a daily basis....How long can this charade be sustained?

[greenginger]

http://www.bbc.co.uk/sport/0/football/21539704



Looks like the Yams got the money last week and thats what paid Friday's wage bill. Tax and N I. due tomorrow if there is anything left in the kitty.

I take it , it was Chuckie Green who spilled the beans on this story. McGoo says he is in the dark !

[Saorsa]

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http://www.bbc.co.uk/sport/0/football/21539704



Looks like the Yams got the money last week and thats what paid Friday's wage bill. Tax and N I. due tomorrow if there is anything left in the kitty.

I take it , it was Chuckie Green who spilled the beans on this story. McGoo says he is in the dark !

He should take of those daft goggles then when the sun isnae oot