Share Transfers Agreed/Cooling off period

[Treadstone]

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Whoever buys the club will essentially have all the equity, whilst holding the FoH to ransom. FoH pledgers will have to commit cash, probably long term, to the club to keep it going, in return for what? Will they have shares? Unlikely. Will they be able to vote at an AGM? No. Will they have any say in anything at all? No. Will they ever get back their "investment"? No. Will Hearts win the Champions' League with their team of World Cup stars, fans filling their £60M new stand at every game? No.

FoH will find themselves trotted out when their is a community aspect to anything HoMFC do.
FoH could find themselves as footballs 'Lib Dems' - no chance of power on their own but catapulted to 'Kingmakers' by virtue of pledges.

[sidneyhibbie]

Newco http://videocelts.com/2013/07/blogs/...or-newco-route

[God Petrie]

So FOH are basically their only option now? lol

[God Petrie]

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Newco http://videocelts.com/2013/07/blogs/...or-newco-route

That articles a bit bizarre due to the Celtic slant on it. Open the door for Killie and Aberdeen to newco too? Really?

Their weird ability to perceive themselves as victims is getting worse.

[Moulin Yarns]

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Newco http://videocelts.com/2013/07/blogs/...or-newco-route

http://www.youtube.com/watch?v=NZyVZFJGX5g

[Treadstone]

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http://www.youtube.com/watch?v=NZyVZFJGX5g

RanTic can turn anything into an Old Firm bun fight.

[sidneyhibbie]

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http://www.youtube.com/watch?v=NZyVZFJGX5g

1st comment on that article sums it up.

I said all along that the Sevco “newco” route set a precedent for others to follow. In Hearts case they still need to find a corrupt administrator who will sell Tynecastle off on the cheap to the “newco” thereby not acting in the interest of the creditors as they are legally bound to do, but once again, since Duff & Phelps set a precedent to act out with the law, it is obvious other teams will follow suit. It could be argued Scotland is the most corrupt fraudulent football federation on the planet, but when teams fail to pay millions of pounds worth of bills and get away with it by merely declaring themselves a “newco” with the same name, badge, strip etc. Scotland’s football federation will be seen clearly in the eyes of the world for what they truly are.

[CropleyWasGod]

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1st comment on that article sums it up.

I said all along that the Sevco “newco” route set a precedent for others to follow. In Hearts case they still need to find a corrupt administrator who will sell Tynecastle off on the cheap to the “newco” thereby not acting in the interest of the creditors as they are legally bound to do, but once again, since Duff & Phelps set a precedent to act out with the law, it is obvious other teams will follow suit. It could be argued Scotland is the most corrupt fraudulent football federation on the planet, but when teams fail to pay millions of pounds worth of bills and get away with it by merely declaring themselves a “newco” with the same name, badge, strip etc. Scotland’s football federation will be seen clearly in the eyes of the world for what they truly are.

Didn't you already say that BDO are corrupt, though?

[Craig_in_Prague]

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So FOH are basically their only option now? lol

who are 2000 short on what they wanted in pledges?

Allisbarry

[Dunderhall]

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I've never understood how FoH funds could be used to structure a bid for the club. Their money is based on goodwill that could disappear at any time by contributors simply cancelling their direct debits.
By appeasing the fans re ST's (understandable as they're the only source of income) BDO are making the club less attractive to potential buyers, surely this can only end one way and that's a newco.

It was never a goer from day 1 as they simply wouldn't have had the capital up front to make a bid.
Yesterday they announced they now had two sources of funds, pledge now etc.
From what's being said now it looks like these two sources are two of the other bids and they'll pick one.

So the FoH pledgers don't even know who they are getting into bed with and will have overall control of the club.
Transparency my ****, just more smoke and mirrors.

Not complaining mind.

[dangermouse]

Question: Why is 12th July being referred to as the glorious 12th? Is it because this is the deadline for bids for HoMoFC or has the grouse season been brought forward a month?

[CB_NO3]

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Question: Why is 12th July being referred to as the glorious 12th? Is it because this is the deadline for bids for HoMoFC or has the grouse season been brought forward a month?

http://m.youtube.com/index?&desktop_uri=%2F

12th July, maybe so this mob can march along Gorgie Road and have a party. Haha

[green glory]

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Question: Why is 12th July being referred to as the glorious 12th? Is it because this is the deadline for bids for HoMoFC or has the grouse season been brought forward a month?

The glorious 12th refers to the 12th August which is the start of Grouse shooting season.

Also my wedding anniversary. Coincidentally 12 years this year.

[Bostonhibby]

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FoH will find themselves trotted out when their is a community aspect to anything HoMFC do.
FoH could find themselves as footballs 'Lib Dems' - no chance of power on their own but catapulted to 'Kingmakers' by virtue of pledges.

Very good analogy but surely you mean the Monster Raving Loonies, or Monty Pythons' Extremely Silly Party? The FOH front man fits perfectly as leader of both.

[#FromTheCapital]

**** the hearts...

That is all

[Treadstone]

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**** the hearts...

That is all

Informative and to the point.

[Part/Time Supporter]

FOH say they are minded to reject the proposal from McKie to join forces and will instead use their other source of funding.

http://www.bbc.co.uk/sport/0/football/23194475

[Glory Lurker]

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There was never any Planning Application submitted to City of Edinburgh Council to build houses on Tynecastle. I don't doubt that discussions took place between CEC and Cala, but nothing more. That is not to say any application would not be looked upon favourably, as regeneration of a run down and depressed area of the city would always be looked at as an improvement, especially if the Cooncil didn't have to pay for it, and there would be lots of gain for the Cooncil with developer contributions to education, affordable housing etc.

I don't know what the Planning Department would make of an application for development, but even if it's something they would work with I think it's what happens at the stage before any application is made that we should be looking at. My feeling is that (assuming a CVA doesn't work out) the odds are the future is Newcohmfc playing at Tynecastle.

Even if there was a developer with an interest in the site, there is no way they would be willing to stump up their full price until they got planning permission for their proposed development. Any offer they made to buy the place would therefore be pre-conditional on them getting planning, which naturally puts a question mark over whether there would ever be a final deal with that developer (even if (and again, I don't know) the proposed scheme is something the Planning Department would look at). If Newcohmfc was to offer a price not a million miles off that developer's figure then that might be more attractive as it (presumably) would have less strings attached.

Of course, all of this is based on there actually ever being an offer from an interested developer. There is no certainty of this whatsoever. What is absolutely certain just now is either that (1) there will be a CVA or (2) if not, there will be a Newcohmfc desperate to keep the team at Tynecastle. Both keep football at Tynecastle.

[Treadstone]

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FOH say they are minded to reject the proposal from McKie to join forces and will instead use their other source of funding.

http://www.bbc.co.uk/sport/0/football/23194475

FoH playing a good hand here. Telling McKie "we have a better offer, any advance on yours ?"

Still think they could get burned though.

[Hibbyradge]

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Even if there was a developer with an interest in the site, there is no way they would be willing to stump up their full price until they got planning permission for their proposed development.

Cala were ready to pay £20.5m for the land only 9 years ago.

[Glory Lurker]

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Cala were ready to pay £20.5m for the land only 9 years ago.

I'm not saying no developer will be interested. I just think it is far from a given that one coming on the scene would mean game over for Tynecastle.

Re Cala: I didn't follow this in detail at the time as it was obvious Vlad would not go with Murrayfield, but I would be beyond astounded if Cala would have handed over a price without first getting planning permission.

[dangermouse]

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The glorious 12th refers to the 12th August which is the start of Grouse shooting season.

Also my wedding anniversary. Coincidentally 12 years this year.

I knew that. Happy Anniversary when it comes. I was 20 years in April. Murderers get less

[Hibbyradge]

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I'm not saying no developer will be interested. I just think it is far from a given that one coming on the scene would mean game over for Tynecastle.

Re Cala: I didn't follow this in detail at the time as it was obvious Vlad would not go with Murrayfield, but I would be beyond astounded if Cala would have handed over a price without first getting planning permission.

http://news.bbc.co.uk/sport1/hi/foot...an/3656082.stm

http://www.heraldscotland.com/sport/...s-cala-1.77698

[JeMeSouviens]

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Cala were ready to pay £20.5m for the land only 9 years ago.

The £20.5M was with a ton of conditions attached relating to getting planning for a certain density of housing. I think that figure was right at the top end and it was generally assumed a few million would be knocked off by the time Hearts actually got any money.

FoH's (allegedly) independent valuations for Tiny were £5.6M in use as a football stadium, £6M as a development site.

[Hibbyradge]

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The £20.5M was with a ton of conditions attached relating to getting planning for a certain density of housing. I think that figure was right at the top end and it was generally assumed a few million would be knocked off by the time Hearts actually got any money.

FoH's (allegedly) independent valuations for Tiny were £5.6M in use as a football stadium, £6M as a development site.

My point is that developers were prepared to buy the land 9 years ago despite a lack of planning permission.

FWIW, I think FOH's valuation is deliberately low, understandably so.

[Heisenberg]

@edinburghsport: We have learned that the consortium looking to buy Hearts, being led by Gordon McKie, will not now bid. More soon on http://t.co/4RQNn1YqDM

[Treadstone]

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My point is that developers were prepared to buy the land 9 years ago despite a lack of planning permission.

FWIW, I think FOH's valuation is deliberately low, understandably so.

And still miles above anything they could realistically offer.

[Glory Lurker]

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http://news.bbc.co.uk/sport1/hi/foot...an/3656082.stm

http://www.heraldscotland.com/sport/...s-cala-1.77698

Thanks. I am totally comfortable that Cala's offer would have been conditional on getting planning first before it all happened. There's no way they would have offered a deal whereby they could have ended up massively out of pocket as landlords of a football stadium.

[steakbake]

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@edinburghsport: We have learned that the consortium looking to buy Hearts, being led by Gordon McKie, will not now bid. More soon on http://t.co/4RQNn1YqDM

Oh no...!

Yasss! First post on 7...yes, 7-0

[green glory]

@edinburghsport: We have learned that the consortium looking to buy Hearts, being led by Gordon McKie, will not now bid. More soon on http://t.co/4RQNn1YqDM

All the places are starting to fall into... erm... apart.