Share Transfers Agreed/Cooling off period

[Dashing Bob S]

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do you HONESTLY think they will?

No chance, unfortunately.

I see it completely the other way. I'd LOVE them to start the season fifteen points down with that squad, but there's no way that's going to happen.

Sadly they'll be spared that humiliation by liquidation. They won't be playing anywhere next season.

[Caversham Green]

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If there is a shortfall next weekend BDO will make 'yet another' appeal and no doubt something or some mystery benefactor will plug the shortfall.

Hearts won't fold because BDO run out of money before season, no chance imo. Administration process will run it's course to either CVA or liquidation and newco.

That's possible, but not certain. They're already pretty desperate and the ST sales are nowhere near where they should be IMO. Two weeks from the day they made the appeal is not a hard and fast deadline either. There seems to be an almost superstitious belief that they'll get out of it because they're Hearts - they might they might not, but if things don't improve greatly from where they are now they won't.

I'll say again, BDO have no choice in the matter, if they run out of money they will close down (i.e. liquidation from which a newco might emerge). The alternative is to use their own money and you'll never get accountants to do that.

[johnrebus]

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I see it completely the other way. I'd LOVE them to start the season fifteen points down with that squad, but there's no way that's going to happen.

Sadly they'll be spared that humiliation by liquidation. They won't be playing anywhere next season.

Nah, can't see that happening.

Did they not write a begging letter to JK Rowling? Three quarters of a million quid is a drop in the ocean to her.

[greenginger]

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Rather than 'no chance', it'll be 'no choice' if they don't bring in enough money.

The 3,000 season tickets isn't really the target though, the gist of what BDO were saying is that ST sales were 3,000 down from last year and if those fans bought this year they expected to have enough money to make it to the start of the season. They will have other avenues as well, but they are very limited.

The bottom line is they need a certain amount of money to keep HoMFC open. If they don't have it they will have no option but to close down. Why is that so difficult to understand?

I think they will have some options.

Appeal to rich Jambos for a few quid, did that woman Budge not say she would help out, then the players and staff could take wage cuts until the season starts. Only business rates ,rent, utilities are un-negotiable.

I think the the deciding factor will be if there is a Serious bidder that will satisfy the Liths.

They might even get a preferred bidder to part fund the administration, like D&P and Chuckie last year.

[Dashing Bob S]

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That's possible, but not certain. They're already pretty desperate and the ST sales are nowhere near where they should be IMO. Two weeks from the day they made the appeal is not a hard and fast deadline either. There seems to be an almost superstitious belief that they'll get out of it because they're Hearts - they might they might not, but if things don't improve greatly from where they are now they won't.

I'll say again, BDO have no choice in the matter, if they run out of money they will close down. The alternative is to use their own money and you'll never get accountants to do that.

Yes, I think Hearts have led such a charmed life that not only generations of their own support, but sadly, some of ours have bought into this bizarre notion of their financial omnipotence. The truth is that they've been protected from fiscal realities by a couple of egotists and a criminal, incompetent nutcase. Now there are no juggling clowns left in the circus, and they are finally staring reality in the face. It isn't pretty, and unless they can somehow extract more cash from a support who seem to have hit saturation point, the plug will be pulled. As you say, accountants tend to see things differently than Jambo-leaning police chiefs, councilors, or officials at a University.

[greenginger]

Of course there is the pre-season friendly at Dunfermline for the Admin. Cup.

Anyone know why its over there and not at the PBS. Its all about raising cash and they must know they would get a bigger crowd here than over the Forth.

There's not a problem with their safety certificate or anything trivial like that ?

[Sergey]

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I think they will have some options.

Appeal to rich Jambos for a few quid, did that woman Budge not say she would help out, then the players and staff could take wage cuts until the season starts. Only business rates ,rent, utilities are un-negotiable.

I think the the deciding factor will be if there is a Serious bidder that will satisfy the Liths.

They might even get a preferred bidder to part fund the administration, like D&P and Chuckie last year.

As things currently stand, the hypothetical 'serious' bidder will need to stump-up £25m to satisfy the Lithuanians as assets are frozen and criminal investigations are under way.

There won't be any hurried sale to appease HoMFC.

[Ozyhibby]

If they don't make the target this week then it's likely they will cut back to the bone. The bare minimum to keep operational. Cut all youth squads except the u20s which I think they have to have. Possibly cut the remaining senior pros. Move out of Heriot Watt unless they continue to give them it free.
None of this changes anything as far as getting a CVA or keeping Tynecastle but I imagine it's the way BDO will go in an attempt to try and complete the admin.

[FranckSuzy]

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Rather than 'no chance', it'll be 'no choice' if they don't bring in enough money.

The 3,000 season tickets isn't really the target though, the gist of what BDO were saying is that ST sales were 3,000 down from last year and if those fans bought this year they expected to have enough money to make it to the start of the season. They will have other avenues as well, but they are very limited.

The bottom line is they need a certain amount of money to keep HoMFC open. If they don't have it they will have no option but to close down. Why is that so difficult to understand?

Just a thought, but what with their premature posturings about Wonga's 'donation' , how many of them have trotted off on their hols during the Edinburgh trades fortnight, after payday, thinking they were saved? Therefore not buying another ST, donating flour and eggs or holding a tombola?

[hibs0666]

I hope we hear a bit more about his Golden Batallion.

[Northernhibee]

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If they don't make the target this week then it's likely they will cut back to the bone. The bare minimum to keep operational. Cut all youth squads except the u20s which I think they have to have. Possibly cut the remaining senior pros. Move out of Heriot Watt unless they continue to give them it free.
None of this changes anything as far as getting a CVA or keeping Tynecastle but I imagine it's the way BDO will go in an attempt to try and complete the admin.

If this happens I'd be desperate for us to play them at some point. We'd hit double figures easily.

[sidneyhibbie]

I cant comprehend some of the crap over on brokeback they seem to think all is rosey and its business as usual, they are re arranging the deck chairs on the Titanic and the inevitable sinking will happen its only a matter of time

[Mac]

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I cant comprehend some of the crap over on brokeback they seem to think all is rosey and its business as usual, they are re arranging the deck chairs on the Titanic and the inevitable sinking will happen its only a matter of time

It is incredible some of the comments, i truly believe the majority must be about 12 and thick as mince!!


I am now hoping they do actually make the start of the season in the SPL, then they might then suddenly realise the pitfalls attached to administration, they wont sign anyone and will literally be playing kids with a few desperados who took pay cuts knowing there wasnt much else out there for them and then acting like some sort of leg ends, they will get royally pumped most weeks and actually am looking forward to playing them next season, not often ive said that in 30 odd years watching them.

[The Leith Dutch]

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a few desperados who took pay cuts knowing there wasnt much else out there for them

And surely in these situations their agents will have ensured that either the pay returns to the original level in relatively short order or that their client is free to walk with no transfer fee and trouser a a half decent signing fee?

[CropleyWasGod]

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This 3000 season ticket sales is a ploy to get money in to cover BDOs fees, even if some mad consortium can manage to bid a million at the point of sale the major creditors beween them are due 25 million they wont accept the cva and its liquidation and all this effort to get 3000 sales will be lost on BDOs fees.
They must have their heads in the sand to not see the obvious.

At the risk of repeating myself.... again..... BDO won't get paid until Tynecastle is sold.

[jonty]

If we come to the situation where the shares need to be traded/sold/identified for whatever purposes, will the recent share sale be taken into consideration and who owns them (was it a new share issue, diluting other share holdings, or a selling of vlads?)

What does the SPL/SFL/SPFL consider the minimum number of players required to field a team?
Is there a minimum requirement that a club must have in terms of the number of players and/or ages of players?

We've had a season unbeaten against them and won the last derby so i'm not overly fussed about playing them next season.

[Beefster]

A few days ago we had Hearts/BDO begging for the SFA penalty not to be financial. Today, we have Pishy Locke begging for no transfer embargo penalty from the SFA (he's actually pleaded for the SFA not to punish Hearts at all).

Do all big teams spend their time begging for stuff - money, pledges, conversions, no penalties, wage cuts, rivals to play friendlies etc etc etc?

[Kato]

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(was it a new share issue, diluting other share holdings, or a selling of vlads?)

It was a dilution of Vlad's. Although they haven't been registered or issued so probably no dilution has taken place. Despite this the "share issue" was being portrayed in the Scottish press as recently as last week as being a sale of ten percent of Vlad's shareholding to the fans. Must have taken a lot of research that one.

[CropleyWasGod]

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It was a dilution of Vlad's. Although they haven't been registered or issued so probably no dilution has taken place. Despite this the "share issue" was being portrayed in the Scottish press as recently as last week as being a sale of ten percent of Vlad's shareholding to the fans. Must have taken a lot of research that one.

Gimme strength.

[Kato]

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Gimme strength.

Wasn't barry, may have been English

[CropleyWasGod]

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Wasn't barry, may have been English

English or Scottish, it's rubbish.

[sidneyhibbie]

This clown has not got a clue http://www.bbc.co.uk/sport/0/football/23112102 talking about bringing new players and been punished enough

[jonty]

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English or Scottish, it's rubbish.

But where are they then? if it was a dud selling of a % of vlads shares, he presumably still holds them (and the cash). If he did sell his i'm assuming that would be registered somewhere
If its a new share issue, (IIRC) it needed to be registered (which it wasn't) and no subsequent shares have been registered.


So basically, a brochure has been printed, suckers have bought into it, the money has been paid to the club (and presumably in one hand and out the other) and no-one is any the wiser.

Without wanting to sound too critical, it would appear that the yams have been taken for a ride. If that's not fraud, then what is? (I realise this isn't new information, but its still fun to recap)

[Hibercelona]

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This clown has not got a clue http://www.bbc.co.uk/sport/0/football/23112102 talking about bringing new players and been punished enough

He thinks Hearts shouldn't be punished for the same thing twice.

Well maybe if they stop breaking the same rules over and over, that wouldn't happen ya c**k.

[Treadstone]

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This clown has not got a clue http://www.bbc.co.uk/sport/0/football/23112102 talking about bringing new players and been punished enough

I take it no one from the PR dept was dispensed with by the admins. Every interview with anyone who has ever farted in Swynecastle has been about "been punished enough", "getting punished twice for the same offence" and "the squad, bare bones" . The PR guff machine is in overdrive and I expect more from English tomorrow.

[Dunderhall]

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This clown has not got a cluehttp://www.bbc.co.uk/sport/0/football/23112102 talking about bringing new players and been punished enough

"We have already been punished," he said. "If they give us another transfer embargo, they're punishing us for the same thing twice. "

Eh, no.
Those on bob-a-job-back.co.uk might believe you though.

[Spike Mandela]

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He thinks Hearts shouldn't be punished for the same thing twice.

Well maybe if they stop breaking the same rules over and over, that wouldn't happen ya c**k.

The options open to the SFA are a fine, an embargo or a censure. So Hearts don't want a fine or the embargo.

Can the SFA be seen to only give Hearts a censure when Dunfermline got the extended embargo? A punishment Bryan Jackson considered fair by the way.

The point Locke misses is the reason the embargo is there is that other clubs and fans were fed up of seeing financially stricken clubs ditching their debt through administration then new owners coming in and splashing out cash on new players straight away whilst creditors, HMRC and sacked staff are left trailing in their wake.

I hope the SFA issue a season long embargo.

[Hibs07p]

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If they don't make the target this week then it's likely they will cut back to the bone. The bare minimum to keep operational. Cut all youth squads except the u20s which I think they have to have. Possibly cut the remaining senior pros. Move out of Heriot Watt unless they continue to give them it free.
None of this changes anything as far as getting a CVA or keeping Tynecastle but I imagine it's the way BDO will go in an attempt to try and complete the admin.

My understanding is that the 6 young players signed are part of some european funded apprenticeship scheme, and are safe. I don't know if we have the same scheme in place at EM or we are self funded. Anyone in the know might be able to comment further.

GGTTH

[sidneyhibbie]

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The options open to the SFA are a fine, an embargo or a censure. So Hearts don't want a fine or the embargo.

Can the SFA be seen to only give Hearts a censure when Dunfermline got the extended embargo? A punishment Bryan Jackson considered fair by the way.

The point Locke misses is the reason the embargo is there is that other clubs and fans were fed up of seeing financially stricken clubs ditching their debt through administration then new owners coming in and splashing out cash on new players straight away whilst creditors, HMRC and sacked staff are left trailing in their wake.

I hope the SFA issue a season long embargo.

And a Big fine would be nice

[WeeWendy]

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My understanding is that the 6 young players signed are part of some european funded apprenticeship scheme, and are safe. I don't know if we have the same scheme in place at EM or we are self funded. Anyone in the know might be able to comment further.

GGTTH

The SFA runs an MA (Modern Apprenticeship) programme for academy players, and Hibs are involved I believe. The SFA did have European funding for some elements of their National Youth Project, and I think still do (http://www.scottishfa.co.uk/scottish...12&newsID=5975), but according to the website the MA is funded by Skills Development Scotland:

http://www.scottishfa.co.uk/scottish....cfm?page=2661