Share Transfers Agreed/Cooling off period

[Caversham Green]

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The general feeling I have seen on FB from Jamtards is they know its coming but want to make it through to June without being penalised.

I don't care how long it takes, even if they remain in SPL next season - as long as they suffer for their past, death by a thousand cuts will do me just fine.

A few short months ago they were dismissing the idea of administration as 'hobonomic' nonsense and now they're desperately hoping they can hold off the inevitable to delay relegation by one season. Now try telling them that they'll struggle to get out of administration again... It's all moving slowly at the moment but they are in a very bad place and it can only get worse. Sit back and enjoy the view.

[NW]

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Why does it need to be near Gorgie ?
And not true on the second point as out of town would be far cheaper

The club will want to stay in Gorgie and the council and locals will too. Is there a lot of land which is big enough with the right permissions near Edinburgh? If so cant see it being that cheap.

[Green Blood]

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A few short months ago they were dismissing the idea of administration as 'hobonomic' nonsense and now they're desperately hoping they can hold off the inevitable to delay relegation by one season. Now try telling them that they'll struggle to get out of administration again... It's all moving slowly at the moment but they are in a very bad place and it can only get worse. Sit back and enjoy the view.

Far better watching them getting battered to death rather than one knockout killer blow!!

[NW]

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A few short months ago they were dismissing the idea of administration as 'hobonomic' nonsense and now they're desperately hoping they can hold off the inevitable to delay relegation by one season. Now try telling them that they'll struggle to get out of administration again... It's all moving slowly at the moment but they are in a very bad place and it can only get worse. Sit back and enjoy the view.

Is there anything to stop Hearts going into Admin, agreeing a deal with HMRC and continuing on. If they can get someone to do a deal with Liths for stadium what is the point of the liths persuing the debt?

[cocopops1875]

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The club will want to stay in Gorgie and the council and locals will too. Is there a lot of land which is big enough with the right permissions near Edinburgh? If so cant see it being that cheap.

Who gives a f*** what they want?
And they themselves did the groundwork for a move out of town with the online survey

[Onion]

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The thing that is most farcical about this is is if administration happens after the end of the season it's actually not in Hearts interest to pick up any more points.

It'll be a 3rd of what they get this season, meaning that any games they win this season will mean a further point of next seasons total

Points deduction next season suits the Yam mentality. They'll just use is as another incentive to get above Hibs

[NW]

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Who gives a f*** what they want?
And they themselves did the groundwork for a move out of town with the online survey

ok. Who pays for it?

[jonty]

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Have they taken to cake baking too ha ha. I think a community garden would be better, a place for people to reflect

Given they've got a budget of just over £40 million for the new Portobello High School (http://portobellohighschool.org.uk/w...March-2014.pdf) I don't see why they couldn't do it. Speculate to accumulate and all that

[Hibee87]

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I think a building company certainly a UK wide one indifferent to what some in Edinburgh would think. A property developer may buy and sit on as they did in the 70s.

Remember Lithuanian central bank has about £300 million hole to fill. Real debt of HMFC to Ukio Bankas likely to be in region of £40 million plus if take into account write-downs and debt for equity swaps. I remember it being quoted as £35 million at one point in official accounts.

Money required to buy Hears and stadium is circa £10 million. Nobody could do that outside administration/liquidation as they would have to take debts as well. And nobody or any consortium has anywhere that amount of money.

I think we will end up see Hearts going into administration and then liquation. HMRC who are outside UB debt will want some of their money back.


Ground will be sold and fans consortium could by the club at £1-2 million and re-appply to enter SFL and rent Meadowbank. That is their best scenario!

Totally off topic to you post, but you sound as though you live/work in lithuania am I correct?

What I would like to know is have you had/know of any dealings with the liquidators of Ukio and are they a forgiving type? Reason I ask is according to todays EEN hearts are desperatly trying negotiate with the administrators of Ukio to allow them to service the debt as the yare doing and not call in the 15 mill they owe until 2 years time. What is the likely hood of this actually happenig? I would assume that would say bolt to hearts and that they want as much money as quickly as they can and then wash their hands of all things hearts

[NW]

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[/B][/I]

Far better watching them getting battered to death rather than one knockout killer blow!!

what battering are they getting??? Nothing really

[WestEndHibee]

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what battering are they getting??? Nothing really

Patience man, Patience.

[NW]

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Patience man, Patience.

I prefer reality. I think too many have let emotions take in the way of reality.

Many people have been patient re this for many years.

[Caversham Green]

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FAO: Caversham and CWG ( two guys by the way who have done a great job )


What do you think will be the ultimate outcome in this Yam farce

Also does this mean that Ukio Bankas will now not be opening their fandabbydozy flagship branch in Castle St now

There are so many factors involved that it's difficult to predict an outcome. We're concentrating on the current news of Ukio's problems just now, but there's also the problem of UBIG's assets being frozen (so they can't get a new owner) and Companies House chasing them for audited accounts - if they haven't already started a criminal prosecution process they will soon. If they somehow escape all that they're left with a massively diminished playing squad, no money (they're using next season's money now) and a ground that would shame a midden. If they enter administration I can't see a realistic exit for them and liquidation looms and we'll see maroonsevco appearing.

Other than that they need a miracle.

[Green Blood]

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what battering are they getting??? Nothing really

Aye, patience man its coming! This is a bit like sex, foreplay just started with a wee feel o her titties, best yet to come!!

[Springbank]

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The bit in bold is the interesting part of all of this, anyone know if they have had to do something akin to this to a football team in Lithuania?

I think if you look up Portsmouth Fc administration on google you get a good insight. Some similarities..dodgy money, dodgy people, dodgy practices, tainted trophy win, lithuanian bank goes pop, football club suffers long term decline ....

[DC_Hibs]

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That would be the tenants responsibility. Owner would rent premises as seen, the upkeep etc Hearts problem. What alternative do they have?

Not in the commercial property business I've been involved in (real world).

[Caversham Green]

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Is there anything to stop Hearts going into Admin, agreeing a deal with HMRC and continuing on. If they can get someone to do a deal with Liths for stadium what is the point of the liths persuing the debt?

If they go into administration there's nothing available for the ordinary creditors so they couldn't agree a deal with HMRC (who have a policy of opposing CVAs in any case). Administration would have done them good a year or two ago but it looks extremely dangerous for them now. In any case, as I said in my last post, the Ukio situation is only one of their many problems.

[NW]

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Not in the commercial property business I've been involved in (real world).

I think if you approached Hearts and said, I will buy your stadium and rent it back to you at £500,000 per year but its your responsibility to ensure it keeps up with legal requirements, I think they would bite you hand off.

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If they go into administration there's nothing available for the ordinary creditors so they couldn't agree a deal with HMRC (who have a policy of opposing CVAs in any case). Administration would have done them good a year or two ago but it looks extremely dangerous for them now. In any case, as I said in my last post, the Ukio situation is only one of their many problems.

okey dokey. thanks.

[Caversham Green]

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I think if you approached Hearts and said, I will buy your stadium and rent it back to you at £500,000 per year but its your responsibility to ensure it keeps up with legal requirements, I think they would bite you hand off.

Hearts can't sell their stadium until they settle their debt to Ukio, which we're told is £15m. You'd be a fool to pay that for a half-mill annual return.

[Danderhall Hibs]

2 things I’d like to see:
Facebook being deleted
“x” at the end of a text being made illegal (unless a bird is texting in a flirtatious manner)

I reckon we could get these things through Parliament quicker than it’s going to take for Hearts to go pop?

[Sergio sledge]

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So it is only value is really current use. TBH its a good investment opportunity for someone.

Offer say £2.5 m for Stadium, charge Hearts £0.5 m per year rent on a taken as seen basis. After 7 years its a profitable machine.

It's a long read, but I'd recommend that you look at the report that was produced for HoMFC and the council here: http://www.edinburgh.gov.uk/downloads/file/6125/report_on_stadium_options_for_heart_of_midlothan_f ootball_club

A couple of points from this which limit the potential for a cheap purchase and rent back to HoMFC:

Annual maintenance of the stadium in excess of £1m.
Annual dispensation given by UEFA to continue using a non-compliant stadium.

Any purchaser of the stadium would have to take into account (increasing) annual maintenance costs, already in excess of £1m, before working out what to charge HoMFC in rent. Rent would have to be at least £1.5m

You are working on the assumption that a property developer would not be able to use the land, but the report produced for HoMFC and the council states:

"Under this site specific risk assessment of the ethanol storage, the majority of the site falls out with the consultation zones arising from a major event in the ethanol storage tanks. Our assessment concludes that the effects of a major accident hazard in the ethanol storage tanks to be acceptable and should not therefore place a restriction on any re-development of the majority of the site. It is recommended that the club officials discuss the findings of this report with the local planning authority."

Basically, whilst the exclusion zone covers most of Tynecastle at present, this is based on the zone being taken from the edge of the distillery site, and not the specific risk within the distillery site (the ethanol tanks) if the zone is taken from the risk within the distillery site, then the majority of Tynecastle is out with the exclusion zone and could be redeveloped for any use. This could be used by a developer to support any development they wanted. At the time of this report, HoMFC themselves stated that the site would be worth around £8m-£10m on the open market, so I would imagine the administrator of UKIO will be looking to fully satisfy the £6.8m security they have over the ground. The FOH or whoever wishes to bid will have to come up with at least that much to get the club.

[Green Blood]

Phase 1 of HMFC's recovery plan implemented today!


[IMG][/IMG]

[Gus Fring]

As it stands just now the media and Yam apologists are under the impression that Hearts will be quite far down the line for the lith administrator therefore buying them time, which may very well be true.

I would assume however that UBIG will be dealt with much quicker and I think that's going to be the key to all of this. As I've said before, it's like a set of dominos but once UBIG goes, Hearts are even more buggered than they are now (and they're already seriously buggered)

Correct me if I'm wrong?

[greenlex]

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Seems a bit extreme having a front page splash and getting STV to turn up at Tynie if there is nothing going on

Still think they will squirm through till the end of the season - hopefully not though

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They aren't the big team. They are the UBIG team.

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2 things I’d like to see:
Facebook being deleted
“x” at the end of a text being made illegal (unless a bird is texting in a flirtatious manner)

I reckon we could get these things through Parliament quicker than it’s going to take for Hearts to go pop?

I'd also like to see the following phrases be deemed unlawful and punishable.
6am in the morning and 10pm at night. FFS the am and pm are there for a reason!!!!!!
Ps the times could be anything Ive just used them as an example.
Punishment of death should suffice

[cocopops1875]

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ok. Who pays for it?

Who pays for anything ? The current stadium is barely fit for purpose.

[Beefster]

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2 things I’d like to see:
Facebook being deleted
“x” at the end of a text being made illegal (unless a bird is texting in a flirtatious manner)

I reckon we could get these things through Parliament quicker than it’s going to take for Hearts to go pop?

I'm with you. The last time I didn't put an 'x' on the end of one of Mrs Beefster's text messages, I got a "what's wrong with your moany pus" in response. Ridiculous.

[Hibee87]

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It's a long read, but I'd recommend that you look at the report that was produced for HoMFC and the council here: http://www.edinburgh.gov.uk/download..._football_club

A couple of points from this which limit the potential for a cheap purchase and rent back to HoMFC:

Annual maintenance of the stadium in excess of £1m.
Annual dispensation given by UEFA to continue using a non-compliant stadium.

Any purchaser of the stadium would have to take into account (increasing) annual maintenance costs, already in excess of £1m, before working out what to charge HoMFC in rent. Rent would have to be at least £1.5m

You are working on the assumption that a property developer would not be able to use the land, but the report produced for HoMFC and the council states:

"Under this site specific risk assessment of the ethanol storage, the majority of the site falls out with the consultation zones arising from a major event in the ethanol storage tanks. Our assessment concludes that the effects of a major accident hazard in the ethanol storage tanks to be acceptable and should not therefore place a restriction on any re-development of the majority of the site. It is recommended that the club officials discuss the findings of this report with the local planning authority."

Basically, whilst the exclusion zone covers most of Tynecastle at present, this is based on the zone being taken from the edge of the distillery site, and not the specific risk within the distillery site (the ethanol tanks) if the zone is taken from the risk within the distillery site, then the majority of Tynecastle is out with the exclusion zone and could be redeveloped for any use. This could be used by a developer to support any development they wanted. At the time of this report, HoMFC themselves stated that the site would be worth around £8m-£10m on the open market, so I would imagine the administrator of UKIO will be looking to fully satisfy the £6.8m security they have over the ground. The FOH or whoever wishes to bid will have to come up with at least that much to get the club.

Good Stuff, I have asked this qestion a number of times and had no answer - how much does it cost to run tynie? 1mill was the figure in my head so must have heard it somewhere.

FOH, if by some miracle obtained the stadium for nothing, lets say they were gven it for arguments sake (we know that would not happen, but lets just pretend) how the **** would they manage to pay tha on top of everything else and have a winning side on the pitch? the answer is .....they canny!! no matter what way I seem to look at things it aint going to be pretty for our jambo chums. not unless some mad man with money to burn comes along and is happy to lose his fortune........

[Danderhall Hibs]

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I'm with you. The last time I didn't put an 'x' on the end of one of Mrs Beefster's text messages, I got a "what's wrong with your moany pus" in response. Ridiculous.

Incredible. I don't even put an "x" on the end when I'm begging for a ride.

Edit - maybe that's where I'm going wrong?

[kdhibees1]

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Slightly off topic but my mate is a car salesman with Volkswagen on Gorgie Road. They store about 10 to 15 cars in the car park at the main stand at Tynecastle, something they have done for years with the club, they have some sort of agreement. Anyway they got told yesterday to have all the cars moved from the car park as soon as possible. Bit strange considering they have been there for about 4 years.

'Quick, get they cars away from the stadium as the Russian hat kicker brigade are about to cause mayhem, again!!!!!!''

[bingo70]

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Incredible. I don't even put an "x" on the end when I'm begging for a ride.

Maybe if you put the occasional x at the end you wouldn't have to beg for a ride.