Share Transfers Agreed/Cooling off period

[Saorsa]

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Who is the blonde woman supposed to be? Lamont? She was also in the all is Barry cartoon.

Somebody mentioned on the other thread and suggested it was jenny dawe, of Edinburgh council. I dinnae ken what she looks like so I can neither confirm or deny but it would seem logical as she is a yam.

[Baldy Foghorn]

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Somebody mentioned on the other thread and suggested it was jenny dawe, of Edinburgh council. I dinnae ken what she looks like so I can neither confirm or deny but it would seem logical as she is a yam.

She is an old munter, so more than likely to be a merrick

[degenerated]

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She is an old munter, so more than likely to be a merrick

She is a sparryheid though her other half has a season ticket at ER. When I emailed her about the council funded survey on hearts stadium last year she responded saying she would not be minded to support any council involvement with any stadium for them. She also went on to point out she had backed hibs bid on the lochend butterfly.

[jgl07]

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She is a sparryheid though her other half has a season ticket at ER. When I emailed her about the council funded survey on hearts stadium last year she responded saying she would not be minded to support any council involvement with any stadium for them. She also went on to point out she had backed hibs bid on the lochend butterfly.

But Jenny Dawe lost her seat on the City of Edinburgh Council last year!

[Crazyhorse]

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Lead to believe it won't be long until hearts accounts are finalised. Showing an operating profit of half a million. Can only assume there has Been an injection like last year.

Antwerp what are you saying here? That they are righting the ship (sub) and are going avoid the catastrophe we have all been hoping for.

[Kaiser1962]

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Antwerp what are you saying here? That they are righting the ship (sub) and are going avoid the catastrophe we have all been hoping for.

It is worth remembering that that the figures for the overdue accounts are, in reality, up to the end of June 2012 at the very latest. A lot has happened since then.

[degenerated]

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But Jenny Dawe lost her seat on the City of Edinburgh Council last year!

The email was from November 2011, she was leader if the council at time.

[Caversham Green]

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The previous accounts state at item 25 Post balance sheet events - " since the year end, the Company has received £ 2.9 million of compensation income receivable under a contract to sell football players. "


The £ 2.9 million plus the run to the cup final would make that figure possible but interest charges would return their bottom line to the Red to the tune of about £ 1 million.

Added to that, in the year they'll be reporting they've sold Wallace and Johnsson (and possibly someone else) won the Scottish cup and had a lucrative Euro tie with Spurs, so this could actually be their first true profit since their return from the front line. It's littered with one-offs so nothing to get too excited about, but it will increase the price for anyone wanting to buy them.

I think the sticking point will be the auditors though. I can't see how they can provide any sort of opinion in the current circumstances - no word of an extension of the debt facility and UBIG apparently on the brink anyway. A secondary security granted to a bank that's just gone bust. Something else needs to happen before the auditors can sign off a report IMO.

[Part/Time Supporter]

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The previous accounts state at item 25 Post balance sheet events - " since the year end, the Company has received £ 2.9 million of compensation income receivable under a contract to sell football players. "


The £ 2.9 million plus the run to the cup final would make that figure possible but interest charges would return their bottom line to the Red to the tune of about £ 1 million.

That's a very strange phrase. It reads as if they have sold off multiple players for that fee to another company, which would then receive income from other clubs when the players were actually transferred. That would explain (for example) the phrase in that email Mikey reproduced that they had already got a certain amount of money for Ryan McGowan, and that selling him (and the reported fee) wouldn't help the club.

This isn't completely abnormal. For example, in Portugal there are some of these player funds where a company buys stakes in (say) a Benfica player and then receives the equivalent percentage of the fee when the player is sold on.

eg http://en.wikipedia.org/wiki/Benfica_Stars_Fund

[JeMeSouviens]

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That's a very strange phrase. It reads as if they have sold off multiple players for that fee to another company, which would then receive income from other clubs when the players were actually transferred. That would explain (for example) the phrase in that email Mikey reproduced that they had already got a certain amount of money for Ryan McGowan, and that selling him (and the reported fee) wouldn't help the club.

This isn't completely abnormal. For example, in Portugal there are some of these player funds where a company buys stakes in (say) a Benfica player and then receives the equivalent percentage of the fee when the player is sold on.

eg http://en.wikipedia.org/wiki/Benfica_Stars_Fund

Speaking of which, I'm wondering about the timing of their ST launch. By all accounts they needed the discounted Wallace money from the Huns to pay Feb wages and crowds at the Wongadome have nosedived therefore you would think STs should've been out weeks ago. I wonder if they've done a Ticketus/Huns type securitisation deal?

The ST launch at least explains why Charlie "mouth of Sauron" Mann and Soggy Biscuits Preston were going mental on the radio the other night.

Great news for a newco scenario as well, the new club would be asking the morons to stump up a second time.

[greenginger]

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Added to that, in the year they'll be reporting they've sold Wallace and Johnsson (and possibly someone else) won the Scottish cup and had a lucrative Euro tie with Spurs, so this could actually be their first true profit since their return from the front line. It's littered with one-offs so nothing to get too excited about, but it will increase the price for anyone wanting to buy them.

I think the sticking point will be the auditors though. I can't see how they can provide any sort of opinion in the current circumstances - no word of an extension of the debt facility and UBIG apparently on the brink anyway. A secondary security granted to a bank that's just gone bust. Something else needs to happen before the auditors can sign off a report IMO.

Item 25 of the accounts specifically mentions receiving £ 700,000 for Wallace and £510,000 for Jonnson being included in the total of £ 2.9million received ( period 1/7/2011 to date of accounts 5/4/2012 )

Who were the other players ?

They will also have to include the £1.5 million still due to HMRC.

[Caversham Green]

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Item 25 of the accounts specifically mentions receiving £ 700,000 for Wallace and £510,000 for Jonnson being included in the total of £ 2.9million received ( period 1/7/2011 to date of accounts 5/4/2012 )

Who were the other players ?

They will also have to include the £1.5 million still due to HMRC.

Just had a look - that note reads to me like the player sales are in addition to the £2.9m, but it's not entirely clear. They will be including the full £1.5m receivable for Wallace in these accounts as it wasn't contingent on anything and has now been received in full, but they will also have to include the tax liability as you say. I don't know if there were any other players sold, I just had a feeling I was missing someone.

[Hibby Kay-Yay]

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Just had a look - that note reads to me like the player sales are in addition to the £2.9m, but it's not entirely clear. They will be including the full £1.5m receivable for Wallace in these accounts as it wasn't contingent on anything and has now been received in full, but they will also have to include the tax liability as you say. I don't know if there were any other players sold, I just had a feeling I was missing someone.

Did they not agree a final payment of 100k less to get the money now? Or am I mixing this with another player?

[Sergio sledge]

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Just had a look - that note reads to me like the player sales are in addition to the £2.9m, but it's not entirely clear. They will be including the full £1.5m receivable for Wallace in these accounts as it wasn't contingent on anything and has now been received in full, but they will also have to include the tax liability as you say. I don't know if there were any other players sold, I just had a feeling I was missing someone.

Did they sell Ryan Stevenson also? It beggars belief that a club can have taken in £2.9m in fees + McGowan, won the Scottish Cup (with all the associated prize money & additional earnings) and had lucrative UEFA cup ties against Spurs and Liverpool, had a share issue/bake sale which raised £1m in the last year and a half, and yet still be in the financial state that they are. That must be £6m over and above ordinary turnover in that period.

[greenginger]

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Did they sell Ryan Stevenson also? It beggars belief that a club can have taken in £2.9m in fees + McGowan, won the Scottish Cup (with all the associated prize money & additional earnings) and had lucrative UEFA cup ties against Spurs and Liverpool, had a share issue/bake sale which raised £1m in the last year and a half, and yet still be in the financial state that they are. That must be £6m over and above ordinary turnover in that period.

The £ 2.9 million referred to in ther last published accounts was money received/contracted to receive after the accounts period 30/6/2011 untill the accounts were actually signed 5/4/2012.

So who left the PBS in this period for big bucks apart from Wallace and Jonnson ?

[Caversham Green]

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Did they not agree a final payment of 100k less to get the money now? Or am I mixing this with another player?

No, I think you're right - they'll have to knock that £100k off in these accounts.

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Did they sell Ryan Stevenson also? It beggars belief that a club can have taken in £2.9m in fees + McGowan, won the Scottish Cup (with all the associated prize money & additional earnings) and had lucrative UEFA cup ties against Spurs and Liverpool, had a share issue/bake sale which raised £1m in the last year and a half, and yet still be in the financial state that they are. That must be £6m over and above ordinary turnover in that period.

Stevenson walked because of the late wages and the way the club was being run. Did they sell Templeton before 30th June though? It might be him I'm thinking of.

If Vlad is to be believed they've had more than double their ordinary turnover by way of parent company funding for each of the last six years, and it's highly unlikely that they'll ever repay it. That's why they should suffer the points deduction without question when UBIG go under.

[JeMeSouviens]

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No, I think you're right - they'll have to knock that £100k off in these accounts.



Stevenson walked because of the late wages and the way the club was being run. Did they sell Templeton before 30th June though? It might be him I'm thinking of.

If Vlad is to be believed they've had more than double their ordinary turnover by way of parent company funding for each of the last six years, and it's highly unlikely that they'll ever repay it. That's why they should suffer the points deduction without question when UBIG go under.

Templeton was still playing for Hearts at the start of this season. He was the obligatory player to escape a red card but be retrospectively punished in the first derby.

[Caversham Green]

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The £ 2.9 million referred to in ther last published accounts was money received/contracted to receive after the accounts period 30/6/2011 untill the accounts were actually signed 5/4/2012.

So who left the PBS in this period for big bucks apart from Wallace and Jonnson ?

As P/TS says, the note is very strangely worded. It doesn't read like it relates to HoMFC players being sold, more like some sort of fees for acting as agents. These accounts are going to be very interesting if they ever do appear.

[Part/Time Supporter]

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The £ 2.9 million referred to in ther last published accounts was money received/contracted to receive after the accounts period 30/6/2011 untill the accounts were actually signed 5/4/2012.

So who left the PBS in this period for big bucks apart from Wallace and Jonnson ?

Nobody (Stevenson was sold to Ipswich for two and six).

That's why I'm suggesting that there must be some contract in place with a third party (I guess controlled by Romanov) that has given HMFC an advance on transfer fees, but that party then receives the funds when they are actually sold.

To be fair it actually looks like being a good deal for HMFC, given that the only players sold since then are Templeton and McGowan. That raised about £1M in fees, but there are hardly any other players worth anything that they control. And that advance transfer cash probably got them out of a big hole last season.

[Caversham Green]

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Templeton was still playing for Hearts at the start of this season. He was the obligatory player to escape a red card but be retrospectively punished in the first derby.

Aye, so he was. I guess it was just those two that were sold then.

[s.a.m]

Scotsman‏@scotsmandotcomFormer Dundee United boss Peter Houston has confirmed his interest in Hearts job, but has "loads of questions" http://bit.ly/XTEKL3

[Spike Mandela]

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Scotsman‏@scotsmandotcomFormer Dundee United boss Peter Houston has confirmed his interest in Hearts job, but has "loads of questions" http://bit.ly/XTEKL3

He won't get loads of answers

[greenginger]

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Nobody (Stevenson was sold to Ipswich for two and six).

That's why I'm suggesting that there must be some contract in place with a third party (I guess controlled by Romanov) that has given HMFC an advance on transfer fees, but that party then receives the funds when they are actually sold.

To be fair it actually looks like being a good deal for HMFC, given that the only players sold since then are Templeton and McGowan. That raised about £1M in fees, but there are hardly any other players worth anything that they control. And that advance transfer cash probably got them out of a big hole last season.

Yeah, but like all advances they need to be repaid sometime. I wonder if it involved that Russian Football agent that supplied Kingston back in the Yam happy times ?

Be quite funny if Mckie and Hearts Foundation succeed in their take-over and find they have an unwelcome partner - Igor and the Head -Hunters, looking for the balance of the £2.9 million plus interest at rates that would make Wonga blush.

[21.05.2016]

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Scotsman‏@scotsmandotcomFormer Dundee United boss Peter Houston has confirmed his interest in Hearts job, but has "loads of questions" http://bit.ly/XTEKL3

Im sorry but what manager in their right mind would even consider taking a managerial position at that utter shambles of a club! Yes i'm sure its well paid but the whole club is a farce and that manager is just a puppet to a higher power.

You would have to be a complete fool to take that job if you ask me!

[21.05.2016]

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He won't get loads of answers

Nobody ever does, I don't think anybody really has a clue what the hell is going on at the corrupt shambolic organisation that is Heart of midlothian FC.

[Platinum Scotty]

If you arent working and someone is daft enough to offer you a large wage for a couple of days/weeks/months then why not take it? Gaps on the CV are harder to explain and albeit working for the Yams is madness but at least its paid madness......

[Spike Mandela]

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If you arent working and someone is daft enough to offer you a large wage for a couple of days/weeks/months then why not take it? Gaps on the CV are harder to explain and albeit working for the Yams is madness but at least its paid madness......

Ehhhhhhhh, this is optional, no?

[Platinum Scotty]

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Ehhhhhhhh, this is optional, no?

Spike - damn good point.............maybe thats one of the questions Houston was asking 'can I expect to see pay hit my bank account on a regular basis should i take the job'

[Treadstone]

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Im sorry but what manager in their right mind would even consider taking a managerial position at that utter shambles of a club! Yes i'm sure its well paid but the whole club is a farce and that manager is just a puppet to a higher power.

You would have to be a complete fool to take that job if you ask me!

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If you arent working and someone is daft enough to offer you a large wage for a couple of days/weeks/months then why not take it? Gaps on the CV are harder to explain and albeit working for the Yams is madness but at least its paid madness......

Common factor in names mentioned for Yams manager , Derek McInnes , Peter Houston and Fat Striker :

They all have a P45 handy.

[cocopops1875]

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Common factor in names mentioned for Yams manager , Derek McInnes , Peter Houston and Fat Striker :

They all have a P45 handy.

"This job will appeal to a wide range of people"