Share Transfers Agreed/Cooling off period

[God Petrie]

Why would the Lithuanians take a few million when they could just sit on the debt for years and let them ***** every possible spare penny on paying them the full amount back.

Also, why would any potential owner pay a few million and suffer years of paying back the criminal debts of the previous owners when they could pick up the same club after their bust for pennies and start again. That also applies to the HMRC debt. £1.5m for absolutely nothing.

There seems to be a lot of logical leaps being made by the more simple and optimistic element of the hearts support. They are dead - they are just trying to save face while they splutter their last toxic breath.

[Beefster]

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This was the funniest thing I'd seen on here for a while until I saw this two minutes later....

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Hearts Bell End John Blobertson gets ready to depart for Lithuania with all the cash FOH have raised.

[Aldo]

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LateSt long tweet from Mark Donaldson.........

There's been plenty talk about the possibility of Hearts going into administration becasue of the financial problems with UKIO Bankas, but let's put aside the 'sensationalistic' journalism of some and take a moment to examine sensibly what could happen next.

The liquidation process against UKIO Bankas can be appealed, and even then any process for full liquidation could take months to carry out. Heart of Midlothian, of course, is just one of many businesses that banked with Ukio.

It's also important to think of the political angle here. Just how keen would the Lithuanian government be to close down a major Scottish institution? The country is set to take on EU presidency from 01 July 2013 for six months, therefore inter-country relations are very important to them right now.

By the way this isn't some sort of Pravda-esque diatribe, there are of course two sides to every story and Heart of Midlothian Football club is still liable for a very large amount of debt.

The Lithuanian government, or those working on their behalf with the UKIO Bankas case, will very quickly realise the club owes them a lot of money. However they will also realise there is next to no chance they will be able to recoup every last penny of that money.

That is where Supporter's Groups come in, or anyone else with cash who is keen to invest in our football club. If a realistic bid can be made to the Lithuanian government to take over the running of Hearts - just my opinion but I reckon circa 5 million - then there's more than a decent chance of the govt accepting the offer thinking 'xx million is better than 0 million'.

Should an offer for the football club not be forthcoming then we cannot forget there is also, of course, the chance the debt could be recalled, which Hearts would not be able to fulfil and administration would therefore likely follow - although this is something that, if it does happen, will not take place in the short term so there's practically no threat of relegation to Division One for Hearts next season.

To conclude, it's my belief that a reasonable seven figure offer for the football club - preferably sooner rather than later - would be entertained by the Lithuanian authorities as it would be one less thing for them to worry about when it comes to recouping as much money as possible.
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Blah blah blah head in the sand Donaldson. Take yur heed oot of Southerns ass for a second and have a proper look without your maroon tinted specks.

Regardless of what country you are in your beloved yams are owned by a foreign company who have are about to go tits up.

They will want to recoup and this means selling assets for as much as they can get.

So get a grip you total and utter yammish clown

Nuff said

[Col2]

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Fair enough but its all still ifs and buts. I reckon if they sell the stadium they will sell it to Hearts - ie they will take a few pennies in the pound and leave it at that. Very few people would spend money on land that will be considered 'hallowed ground' by the local community.

Hearts could do an administration in the summer, ditch a few more contracts, weadle some loan deals, and attract the kind of braindead roasters that Rangers did, and come out the traps with a cause to rally round.

Hearts are on a shoogly peg, but they are very very far from 'dead'. It seems that we keep preparing for a party that isnt going to happen. And the annoying element of their support will grow even stronger as a result.

Hence. Beat them. On the Pitch. As soon and as heavily as possible.

I am all for beating them on the pitch especially when they spend the same amount of money as we do not 3 times it.

Administration is not just a few penalty points and all is Barry. They would need to come out of admin and evening they did and convinced creditor to accept pence in pound, nobody would touch them with credit, all players could walk, they would most lose the pink bus shelter and they would need a fair amount of capital to get going again. This of course discounts the fact that season ticket money say 8000@ £300 = £2.4 would be lost and they would have to rely on supporters to make up the shortfall.

A summer administration would be a disaster for them and with a 14 point penalty at least and no Dundee late to the SPL scenario, they would be odds on for relegation and another administration on the cards say in a year or two.

[CropleyWasGod]

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Fair enough but its all still ifs and buts. I reckon if they sell the stadium they will sell it to Hearts - ie they will take a few pennies in the pound and leave it at that. Very few people would spend money on land that will be considered 'hallowed ground' by the local community.

Hearts could do an administration in the summer, ditch a few more contracts, weadle some loan deals, and attract the kind of braindead roasters that Rangers did, and come out the traps with a cause to rally round.

Hearts are on a shoogly peg, but they are very very far from 'dead'. It seems that we keep preparing for a party that isnt going to happen. And the annoying element of their support will grow even stronger as a result.

Hence. Beat them. On the Pitch. As soon and as heavily as possible.

Can't see your administration model working here. It needs the consent of the unsecured creditors (a CVA), and HMRC won't agree to it.

[Virginia Hibs]

Can I just say thank you to the people and the country of Lithuania for the lovely wedding anniversary present. Very much appreciated! We'll remember it for yonks and will have Hibs fans signing our special date for years!

[Gus Fring]

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Fair enough but its all still ifs and buts. I reckon if they sell the stadium they will sell it to Hearts - ie they will take a few pennies in the pound and leave it at that. Very few people would spend money on land that will be considered 'hallowed ground' by the local community.

Hearts could do an administration in the summer, ditch a few more contracts, weadle some loan deals, and attract the kind of braindead roasters that Rangers did, and come out the traps with a cause to rally round.

Hearts are on a shoogly peg, but they are very very far from 'dead'. It seems that we keep preparing for a party that isnt going to happen. And the annoying element of their support will grow even stronger as a result.

Hence. Beat them. On the Pitch. As soon and as heavily as possible.

What are Hearts going to buy the stadium with? Pies? Cakes? Because they don't have any money! "Hallowed Ground" is nonsense. A property developer or a supermarket is unlikely to care what was there before, neither would the people shopping/buying the flats.

There is no way they will be able to "do a Rangers" as even Rangers haven't managed that! They're still losing £1m a month in the 3rd division!

Beating them won't shut them up. You're living in a fantasy land if you think that'll happen. Let me ask you something, do you shut up when they beat us? I hope not.

[JeMeSouviens]

btw, don't know if it was mentioned above ... but according to Brian McLaughlin they've paid the first 500K to HMRC.

[weonlywon6-2]

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Fair enough but its all still ifs and buts. I reckon if they sell the stadium they will sell it to Hearts - ie they will take a few pennies in the pound and leave it at that. Very few people would spend money on land that will be considered 'hallowed ground' by the local community.

Hearts could do an administration in the summer, ditch a few more contracts, weadle some loan deals, and attract the kind of braindead roasters that Rangers did, and come out the traps with a cause to rally round.

Hearts are on a shoogly peg, but they are very very far from 'dead'. It seems that we keep preparing for a party that isnt going to happen. And the annoying element of their support will grow even stronger as a result.

Hence. Beat them. On the Pitch. As soon and as heavily as possible.

I have no idea how you can come out with that quote.Somebody somewhere wants a lot of money out of them and they just dont have it.

Yes they will survive in some shape or form but very very far from dead,nah dont think so

[Aldo]

Yam is biting on a FB post, saying that he's not a financial expert but we're obsessed with them and as far as we are concerned they have been going bust since 2005.

#deludedasevereithheadinthesand

Will wait and reply. Why are they all like this

[bighairyfaeleith]

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Surprised after services to Britain including single handily winning two world wars, the country hasn't presented Hearts with 50 million tax free cash and the keys to Leith Primary every Tuesday for the next 20 years.

I sincerely hope nobody associated with hearts is ever given the keys to a school, world war champions or not!!

[greenginger]

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What are Hearts going to buy the stadium with? Pies? Cakes? Because they don't have any money! "Hallowed Ground" is nonsense. A property developer or a supermarket is unlikely to care what was there before, neither would the people shopping/buying the flats.

There is no way they will be able to "do a Rangers" as even Rangers haven't managed that! They're still losing £1m a month in the 3rd division!

Beating them won't shut them up. You're living in a fantasy land if you think that'll happen. Let me ask you something, do you shut up when they beat us? I hope not.

Cala Developments did'nt care about hallowed ground a few years back. Come to think about it, would it not be a good idea to dig out a few of the headlines from back then about the £ 20 million deal for the land.

Fire a few copies over to the Lith. administrator to make sure he is aware what could be achieved for a cleared site sale.

[cam75]

Friend at work from Lithuania,says his aunt will have to wait up to 5 years to get her savings held by the bank back,yes I'm sure Lithuania government have a heavy heart when dealing with hmfc.

[Dashing Bob S]

In some ways, it's much better for Hearts to face the medicine right now, if possible, and take admin/relegation, lose the PBS, and play in a lower league. Even penniless and groundless, they at least have their fanbase.

If they do this, they might be able to disassociate themselves from the car cash of UKIOS/UBIG.

They do not want to be around this when criminal investigations into where the monies those companies (and therefore Hearts) have been funded with have come from. This could stop them playing in any league for some time, making it hard for them to retain a support.

[God Petrie]

Check out my conversation with @TheReal_Romanov on twitter for some laughs. I feel like I have lost a part of my life I will never get back with that conversation. Truly dismally stupid.

[Green Blood]

HMFC Deny rumours that their groundstaff have resigned due to non payment of salaries!

[IMG][/IMG]

[rcarter1]

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Can't see your administration model working here. It needs the consent of the unsecured creditors (a CVA), and HMRC won't agree to it.

This I wasnt aware of, so fair play. Other points have also been put forward to support the case that the Yams are up the creek. I do happily concede they are in a tricky spot, however I see a lot of escape routes for them.

My point is that any shaudenfreude over this situation for me is far better realised on the pitch.

[StevieC]

If it were me, from a purely business aspect, I would (assuming I could) take control of the stadium and rent it back to whatever football team emerged from administration/liquidation.

Whilst it's true that the football stadium is only of any use to The HoMFC, by the same token The HoMFC needs the football stadium.

A exorbitant high rent (just enough to allow them to keep trading) would be a much better way to claw back a substantial amount of the debt than selling it "on the cheap" to some supporters group.

The ball would then be in the court of the football club to pay the required rent or move out, and if it were the latter .. leaving an empty stadium with a nice chunk of land ready to sell on the open market.

We all know (deep down) that Hearts aren't going to disappear, and the share issues simply proves to the Lith's that they have a large group of people willing to throw money at football team, and they could potentially use it to their advantage.

[poolman]

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May I recommend the Springbank 15yo malt, green and black box, available in villeneuve wines on Broughton st...

I have a special bottle of glenmorangie quinta ruban that I was keeping for a trip to Whitby for my 60th birthday in July with a crowd of buddies

I'm very tempted to open it now

[Gus Fring]

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Check out my conversation with @TheReal_Romanov on twitter for some laughs. I feel like I have lost a part of my life I will never get back with that conversation. Truly dismally stupid.

That conversation sums up the majority of Yams. He's not got a very good grasp on what's happening. The administrator doesn't have to take the best offer if liquidating the company will raise more money than the offer to buy. Looking at some of his other tweets he seems to just make up any crap just to win an arguement, regardless of whether its true or not.

[rcarter1]

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If it were me, from a purely business aspect, I would (assuming I could) take control of the stadium and rent it back to whatever football team emerged from administration/liquidation.

Whilst it's true that the football stadium is only of any use to The HoMFC, by the same token The HoMFC needs the football stadium.

A exornitant high rent (just enough to allow them to keep trading) would be a much better way to claw back a substantial amount of the debt than selling it "on the cheap" to some supporters group.

The ball would then be in the court of the football club to pay the required rent or move out, and if it were the latter .. leaving an empty stadium with a nice chunk of land ready to sell on the open market.

We all know (deep down) that Hearts aren't going to disappear, and the share issues simply proves to the Lith's that they have a large group of people willing to throw money at football team, and they could potentially use it to their advantage.

this

[Gus Fring]

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If it were me, from a purely business aspect, I would (assuming I could) take control of the stadium and rent it back to whatever football team emerged from administration/liquidation.

Whilst it's true that the football stadium is only of any use to The HoMFC, by the same token The HoMFC needs the football stadium.

A exornitant high rent (just enough to allow them to keep trading) would be a much better way to claw back a substantial amount of the debt than selling it "on the cheap" to some supporters group.

The ball would then be in the court of the football club to pay the required rent or move out, and if it were the latter .. leaving an empty stadium with a nice chunk of land ready to sell on the open market.

We all know (deep down) that Hearts aren't going to disappear, and the share issues simply proves to the Lith's that they have a large group of people willing to throw money at football team, and they could potentially use it to their advantage.

Sorry, but their share issue shows nothing of the sort. They only met half their target despite painting the potential scenario in very blunt terms. There's only so much money Hearts fans will have to keep giving the club and it seems they've already exhausted it

[Kato]

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this

That's not what you said would happen further up.

[Gus Fring]

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this

I'm starting to get a whiff of Yam now. There survival in their current guise is VERY unlikely, you need to accept that. They can't be sold and they're up to their eyes in debt.

[Hibee87]

so im being told that the 15 mill debt still has 2 years of paying 'interest only' so the the 15 mill aint going to be called in.... im no financial whizz but does this not mean **** all now? As far as I am aware the liquidators want to retrieve as much money as possible as quickly as possible.

Also, I thought the stadium was collateral from UBIG to UKIO for 15 mil, and vlad used to the stadium as a bargaining tool to take the 15 mill out the bank..........fluck me im totally confused now like.


wake me up again when jambogeddon happens

[JeMeSouviens]

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That conversation sums up the majority of Yams. He's not got a very good grasp on what's happening. The administrator doesn't have to take the best offer if liquidating the company will raise more money than the offer to buy. Looking at some of his other tweets he seems to just make up any crap just to win an arguement, regardless of whether its true or not.

[greenginger]

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If it were me, from a purely business aspect, I would (assuming I could) take control of the stadium and rent it back to whatever football team emerged from administration/liquidation.

Whilst it's true that the football stadium is only of any use to The HoMFC, by the same token The HoMFC needs the football stadium.

A exornitant high rent (just enough to allow them to keep trading) would be a much better way to claw back a substantial amount of the debt than selling it "on the cheap" to some supporters group.

The ball would then be in the court of the football club to pay the required rent or move out, and if it were the latter .. leaving an empty stadium with a nice chunk of land ready to sell on the open market.

We all know (deep down) that Hearts aren't going to disappear, and the share issues simply proves to the Lith's that they have a large group of people willing to throw money at football team, and they could potentially use it to their advantage.

Good idea about squeezing the Yams but first you have got to collect the rent. Problems with that down at the Riocho Arena.

Secondly, who would pay to make the place habitable for next season ? In all today's excitement I forgot I was told yesterday the safety certificate for the PBS was not going to be re-newed without major alterations to the old stand. Can't vouch for the info. as it was second hand but not unexpected.

[Disc O'Dave]

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That conversation sums up the majority of Yams. He's not got a very good grasp on what's happening. The administrator doesn't have to take the best offer if liquidating the company will raise more money than the offer to buy. Looking at some of his other tweets he seems to just make up any crap just to win an arguement, regardless of whether its true or not.

And the bit in bold hits the nail firmly on its head when it comes to discussing football with anyone of a Yam persuasion......it gets so frustrating when you realise they have no principled stance on anything.....they just agree with whatever they think is best for Hearts at that given point in time, even if they argued the exact opposite the day before. That's why it was so easy for Vlad to piss them about without question.....Muppets deserve to have their club die, quite frankly....

[rcarter1]

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That's not what you said would happen further up.

No it isnt, but Im happy to accept that I dont know what is going to happen. The post I was agreeing to seemed to capture a lot of common sense regarding the situation and is seems as plausible as any scenario described elsewhere.

[Liberal Hibby]

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Yams are thinking his take is legit and likely.
eg


Although one of our boys has tweeted Donaldson and told him to google 'Portsmouth Snoras' to see how the Yams would get treated.

Here is one of the many results.

http://www.guardian.co.uk/football/2...rtsmouth-owner

Interesting quote:

"CSI said: "In the light of the recent events at Snoras Bank, Convers Sports Initiatives would like to reassure its companies, staff, and the fans of its teams and events, that it remains very much business as usual. We are operationally unaffected by Snoras Bank entering temporary administration."

Looks like the same PR person is now writing the Hearts media statements...