Share Transfers Agreed/Cooling off period

[mutley]

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Can this July 12th deadline be extended as I cannae see anyone coming in with a meaningful bid?!

Anyone else find it quite annoying when a "deadline" gets extended...........if you can extend it then it's hardly a deadline!let's hope th 12th is D-day, feel sorry for Morton though as they will be this season's Dundee

[hibby rae]

Did they make any announcements on reaching their target regarding season ticket sales? I'm guessing they haven't sold 3000.

[Saorsa]

Jefferies saw Hearts’ finances unstitch at close quarters. He now describes the Russian-born businessman’s tenure at Tynecastle as having been a “disaster” for the club.

Aye, a disaster now that it's caught up with them otherwise they'd still be at it and no giving a **** about who they were ripping off. Fat roaster


GIRFUY

[JollyGreenGiant]

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desantos - thanks for sticking to your thoughts all along, that they would be liquidated. This was my feeling as well, as I couldn't really see any other outcome. Although it's not at that point yet, it certainly looks good.

Losing the PBS and becoming a newco at the bottom of Scottish football - is really a perfect outcome and unlike Rangers, they won't just waltz up through the leagues at a canter.

Losing your stadium, your club & its soul - is the real death of a club, not some tainted, cheated single cup final.

All in all - 'Pleasing'

Agreed, desantos posts always cheers me up!

How the 'big team' have fallen, crap team, admin cup, no bus fare haha

[CropleyWasGod]

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So as it stands with a day to go, FOH are the only one's with a bid in.

But they don't have a pot to pee in and cant pay anything up front, just a virtual pot of money from folk stating online that they will set up a regular DD to contribute regularly going forward.

Do we know that for sure?

According to STV yesterday, there were no bids in. The only people who will know how many bids are in are BDO.

[Sergey]

The mythical Scandinavians won't be putting a bid in.

http://sport.stv.tv/football/clubs/h...iday-deadline/

[davym7062]

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The mythical Scandinavians won't be putting a bid in.

http://sport.stv.tv/football/clubs/h...iday-deadline/

Awe naw, Viking hat for sale

[Saorsa]

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The mythical Scandinavians won't be putting a bid in.

http://sport.stv.tv/football/clubs/h...iday-deadline/

can just picture the scenes doon gorgay when this news gets out.

[Sanger]

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The mythical Scandinavians won't be putting a bid in.

http://sport.stv.tv/football/clubs/h...iday-deadline/

Keep The Faith - Liquidation here they go!

[JeMeSouviens]

So looks like only 2 bidders: the (shaky) Foundation of Muppetry and BobJam and the Club 9ers.

Rumour on sickbag this morning that the FoM bid will be £3M, but only half up front. To be fair, that's probably a sensible valuation of a basket case football club with a serious lack of working capital whose only valuable asset is the land their ground sits on. Unfortunately for them, it's well short of the valuation of the assets on a break up basis.

The BobJam 9ers strike me as serious bottom feeders so I can't see that going anywhere.

Barring mystery bidders (Massone is awfully quiet considering he was supposed to have £4.5M to bid with in November?), looks like BDO will have some serious decisions to make.

[HUTCHYHIBBY]

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let's hope th 12th is D-day

6th of June is D-Day! :)

[Matty_Jack04]

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Keep The Faith - Liquidation here they go!

Could one of the experts kindly explain what kind of scenarios we can expect tomorrow for jambogeddon? With it looking likely that its going to be between FOH and club 9 all barring any late arrivals I'm not quite sure what's in store...if anything.

can BDO say 'well FOH offer isn't good enough and the club 9 chancers havent got a pot to piss in so we're pushing the button on this chaps' or can they extend the deadline to see if they can tempt others into the mix

[Sanger]

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Could one of the experts kindly explain what kind of scenarios we can expect tomorrow for jambogeddon? With it looking likely that its going to be between FOH and club 9 all barring any late arrivals I'm not quite sure what's in store...if anything.

can BDO say 'well FOH offer isn't good enough and the club 9 chancers havent got a pot to piss in so we're pushing the button on this chaps' or can they extend the deadline to see if they can tempt others into the mix

Been plenty of time to get any real bids to come out. BDO will now move to liquidation where they can maximise money for creditors. Sell the ground and what's left of the club separately.

[CropleyWasGod]

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Could one of the experts kindly explain what kind of scenarios we can expect tomorrow for jambogeddon? With it looking likely that its going to be between FOH and club 9 all barring any late arrivals I'm not quite sure what's in store...if anything.

can BDO say 'well FOH offer isn't good enough and the club 9 chancers havent got a pot to piss in so we're pushing the button on this chaps' or can they extend the deadline to see if they can tempt others into the mix

First off, we probably won't have any definitive news tomorrow. Whatever happens, the deadline for bids is (I think) 5pm, so BDO will be considering their options over the weekend.

They may extend the deadline, a la Rangers, although that is only likely if there are other potential bidders who haven't yet finalised their bids. Indeed, BDO may be under pressure from the SPFL and SFA not to do so.

On the bids themselves, it's unclear what the Club9 bid is based on, ie through a CVA or a NewCo. There have been conflicting stories in the BBC on that.

I would expect that, whatever bids are in, BDO will be in touch with the UKIO admins over the weekend, to try and gauge their attitude. It will probably be next week before we know what their next move is.

[shagpile]

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Could one of the experts kindly explain what kind of scenarios we can expect tomorrow for jambogeddon? With it looking likely that its going to be between FOH and club 9 all barring any late arrivals I'm not quite sure what's in store...if anything.

can BDO say 'well FOH offer isn't good enough and the club 9 chancers havent got a pot to piss in so we're pushing the button on this chaps' or can they extend the deadline to see if they can tempt others into the mix

No point in an extension of the deadline. There will be no more bidders. The size [in monetary terms] of the bids from the two groups reflect the fact that they are goosed.
There is no mega wallet waiting to ride into town & throw cash at Hearts. There wasn't a mega wallet for the huns ,so there sure isn't going to be one for the yams. They're ****ed. Big time.

[Tricla]

Phanny

[Matty_Jack04]

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Quote attributed to Bob Jamieson in this morning's Scotsman:

“I’m a lifelong Hearts supporter who has kept an interest in this club for some time. Hearts is a club with a great reputation, it is 140 years old and has the potential to attract a big customer base even around Edinburgh. Neutrals would come to Hearts because it is a nice venue and there would be space. They were always a glamour club for me and have a good reputation for doing things properly.”

Dear Bob
What planet have you been on for the past 12 years?
or
Can I have some of what he's been having?
or
Are you in such denial that you are unable to be honest with yourself?
or
Just beat it weirdo!

.'neutrals would come to hearts because it is a nice venue and there would be space.'

Bob jaimieson 10 years old

[Peevemor]

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.'neutrals would come to hearts because it is a nice venue and there would be space.'

Bob jaimieson 10 years old

... unless you're over 4'6" tall and are sitting in the old stand.

[Matty_Jack04]

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Been plenty of time to get any real bids to come out. BDO will now move to liquidation where they can maximise money for creditors. Sell the ground and what's left of the club separately.

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First off, we probably won't have any definitive news tomorrow. Whatever happens, the deadline for bids is (I think) 5pm, so BDO will be considering their options over the weekend.

They may extend the deadline, a la Rangers, although that is only likely if there are other potential bidders who haven't yet finalised their bids. Indeed, BDO may be under pressure from the SPFL and SFA not to do so.

On the bids themselves, it's unclear what the Club9 bid is based on, ie through a CVA or a NewCo. There have been conflicting stories in the BBC on that.

I would expect that, whatever bids are in, BDO will be in touch with the UKIO admins over the weekend, to try and gauge their attitude. It will probably be next week before we know what their next move is.

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No point in an extension of the deadline. There will be no more bidders. The size [in monetary terms] of the bids from the two groups reflect the fact that they are goosed.
There is no mega wallet waiting to ride into town & throw cash at Hearts. There wasn't a mega wallet for the huns ,so there sure isn't going to be one for the yams. They're ****ed. Big time.

Thanks guys

[Andy74]

Any danger that a newco proposal could include Tynie like the Rangers situation? Who'd have though tens of millions of quid of property could have been bought for £5m?

Granted, they would need deep pockets to maintain or develop it.

[Col2]

As an aside.

We are bidding c£150k-£200k for a new player - to be determined if successful but no doubting the creditability

The yams are having a "admin cup" game on Saturday that they hope will raise c£10k each in terms of fund raising.

Poles apart. GIRUY HOMFC (IA)

[Speedway]

"When Dylan McGowan signed for the club he didn't have a locker; he put his clothes behind the washing machine because there was no room for them."

[CropleyWasGod]

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Any danger that a newco proposal could include Tynie like the Rangers situation? Who'd have though tens of millions of quid of property could have been bought for £5m?

Granted, they would need deep pockets to maintain or develop it.

It's possible, but there is one major difference.

If the recent adverts are to be believed, then BDO have already been marketing the property separately. D&P didn't do that for Ibrox, to my knowledge.

If, therefore, a NewCo gets Tynecastle , they will have got it at market value, even if that value might be perceived as being "on the cheap".

[Hibercelona]

"Glamour club" lol.

They're about as glamourous as MacKay's medal collection.

[jacomo]

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EEN said last Friday that FOH had secured some up front funding for a bid, but no figures were mentioned and the amount was contingent upon on how many pledges are made.

My guess is that FOH will be the only serious bid and they will be nominated preferred bidder by BDO. The process will then drag on for longer as FOH will want to go through a CVA rather than go straight to a newco situation. BDO will attempt to secure the UBIG shares for sale and negotiations will go on about the price. Only if that then fails would you then be heading towards an alternative resolution (either a newco led by FOH or full liquidation).

Ian Murray has said they have another source of finance aside from the pledges. It would be deeply stupid of him to say this if it was just a bluff.

I don't think it's impossible that they could have secured a lump sum up front, but if its a loan that needs to be repaid, what's it secured against? I presume the only option is the freehold for the PBS.

[Newry Hibs]

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Anyone else find it quite annoying when a "deadline" gets extended...........if you can extend it then it's hardly a deadline!let's hope th 12th is D-day, feel sorry for Morton though as they will be this season's Dundee

Wouldn't Morton be 'invited' to the top division (or maybe that was for the separate SPL last season) and could say no? I wonder if they would turn down the chance of a season in the top division (especially as we are certs for relegation without the Thumb blah blah 5-1 etc etc).

[Keith_M]

Dave Anderson, who was forced to resign because of the Edinburgh City Council Repairs episode, is involved in the Bob Jamieson / Club 9 Hearts bid.

Article


Nice company these people keep.

[jacomo]

Yup, now Jumbo Jim says the Romanov era was a disaster:

http://www.scotsman.com/sport/footba...arts-1-2997096

Happy enough to take his coin at the time though, and defend the regime in public. Yet another two-faced Yam who was happy to toe the line when it suited them and is now trying to ingratiate themselves with the fans / potential new owners again.

[--------]

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Quote attributed to Bob Jamieson in this morning's Scotsman:

“I’m a lifelong Hearts supporter who has kept an interest in this club for some time. Hearts is a club with a great reputation, it is 140 years old and has the potential to attract a big customer base even around Edinburgh. Neutrals would come to Hearts because it is a nice venue and there would be space. They were always a glamour club for me and have a good reputation for doing things properly.”

"Yesterday, Anderson confirmed that he was now advising Borders-based shoe salesman Bob Jamieson on his bid to buy out Hearts and sell off the Tynecastle stadium to developers. While employed by the city council, Anderson was involved in producing a report on the club’s future that concluded the refurbishment of Tynecastle was “not a viable option” and a new home for the club should be found."

So which is it, Dave? A "nice venue" or "not a viable option" in urgent need of replacement? Oh, sorry, the "neutral" you're advising wants to demolish the slum and replace it with bijou city-centre flats/bargain-basement shopping mall/shoe-manufacturing sweatshop? So it really doesn't matter, does it?

Gonnae get your criminal associates on the Council to build a "community" stadium for you for free? Or should I say that so glamorous a club with such an excellent business reputation for honesty, financial probity and transparency in all their dealings should have no trouble in attracting investment to build a new 400,000 seater Super-Maracana for the new club, rumoured to be named the Gorgie Gargoyles?

Wouldn't it be funny if these guys bought the stadium and began demolition, only to be told that the ground was so toxic due to the noxious effluvia from the distillery next door that they couldn't build anything on for at least a hundred years?

[HIBERNIAN-0762]

Well suited to each other by the looks of it, this guy's got some balls.