Share Transfers Agreed/Cooling off period

[Dunderhall]

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The FoH thing depends on what capital they have been able to borrow or have been given by investors. The pledges are not going to be able to fund the takeover itself. Can't see them being able to pay what the stadium is even worth but Rangers showed you never know!

£2m upfront was the figure quoted.
Take off BDO's fees and you cant be too far off £1M remaining as a guess.

They are surely going have to up their game, or it's window dressing and the yamco route is really their preferred option.
They'll argue they did their best, keep on pledging etc.

[sidneyhibbie]

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I detect sarcasm there BH. Well Anderson has shown you then, the scoop they all wanted.

Barry Anderson ‏@BarryAnderson_84m
Federation of #Hearts Supporters Clubs says fans don't want Angelo Massone anywhere near Tynecastle. Full story in EN today. #SaveOurHearts

its all getting a bit heated over their now http://www.scotsman.com/sport/footba...arts-1-3003810

[hibseleven]

Most folk on here seem to think a % of pledges will get cancelled around Christmas time, or if they start to get a few trouncings. If the ****bos become a newco in Div3 owned by FOH do we think the pledges will disappear even quicker?

[Treadstone]

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its all getting a bit heated over their now http://www.scotsman.com/sport/footba...arts-1-3003810

Almost be worth FoH taking over just for the laughs. I predict 'power' struggle within 3 months if successful. I use power in the loosest term possible.

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Most folk on here seem to think a % of pledges will get cancelled around Christmas time, or if they start to get a few trouncings. If the ****bos become a newco in Div3 owned by FOH do we think the pledges will disappear even quicker?

Aye especially as a red cent has yet to be collected.

[Saorsa]

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Most folk on here seem to think a % of pledges will get cancelled around Christmas time, or if they start to get a few trouncings. If the ****bos become a newco in Div3 owned by FOH do we think the pledges will disappear even quicker?

Like snow of a dyke

[hibseleven]

Delighted!! Really looking forward to sitting in the Hotel in Penicuik awaiting the return of the mutant supporters bus after a few heavy defeats!!!!

[Tollhouse Hibee]

An update to all supporters of the Foundation of Hearts

Dear Supporter, An update to all supporters on the Foundation of Hearts database - including those who have signed up for direct debits and those who have not. It's been a busy few days since the bid was submitted to the administrators which would see Foundation of Hearts strongly positioned to acquire control of Heart of Midlothian FC. We wanted to update you on where we are, and what's going on behind the scenes. As you'll have no doubt seen in BDO's announcement, three bids were received for the club. Administrator Bryan Jackson told the media none were acceptable in their current form, but that is to be expected. Discussions will continue in the weeks ahead. Bryan and his colleague Trevor Birch, leading the Hearts administration process, have done a fantastic job, working with club staff to deliver relative progress after the darkness of three weeks ago. We agree completely with their assertion that this process will take time and therefore it could be a month before a preferred bidder is identified. Fundamentally, until UBIG joins Ukio Bankas in having its own administrator appointed there's a wait for all of us. The media have reported that HMFC Ltd and Five Stars Football Ltd are the other two bidding parties. The Foundation at this stage will not comment on the bids of other organisations. There’s been a fair amount of comment and conjecture, and perhaps even a bit of scaremongering from one or two individuals, but we’ve said all along we’re going to focus on what matters to us: Heart of Midlothian. The Administrators need a period of time to do their job and we will just let them get on with that job. The Foundation of Hearts is confident that the bid submitted on its behalf: Is the best financial bid for Hearts and its creditors Has cash ready to complete the transaction immediately Provides the strongest possible working capital solution Delivers lowest risk for creditors and the future protection and growth of the club Combines the best business people, and their capital, with genuine supporter interest and influence. Delivers a highly professionally run club with a clear way to engage Foundation members to the benefit and growth of the club A number of you are of course keen to know how the bid is structured. At the moment we can't discuss this as we are in a competitive situation. What we will say is it has been very sensibly thought through and delivers the outcome the Foundation of Hearts seeks: that potent mix of business expertise, capital and a highly engaged supporter base. Many of you reading this have now set up your direct debit, and even based on simple arithmetic you'll have worked out there's now well over £1m a year in additional revenue to the Club to repay the purchase price and invest in Hearts. We thank you, sincerely. Of course, we have room for more as the more revenue we have the quicker we can repay the purchase price and reinvest in Club. There is a very small playing squad and there is a funding gap to be covered. The more we have the more can be invested. So if you've not signed up, or you know friends or family that have not done so, we'd encourage you to get them involved ahead of our first planned draw down of money around 2nd August. We are now on the way towards 6,000 direct debits. This is no longer a bid, it's a movement. It's the biggest supporter led movement in the history of Scottish football. The more we have the more we can do together. Click here to set up a direct debit if you have not already done so. If you have already done so then pass this on to others. We will keep you up to date as things progress. To all of you we would simply like to say THANK YOU. The club has survived because of you, the supporters. Let’s now own the club and get the benefit of the new dawn that is breaking over Tynecastle. Yours in Hearts, Ian Murray Independent Chairman, Foundation of Hearts PS Remember your direct debit is 100% safe and secure, and all monies (minus very small administration charges) will be returned if the bid is not successful. It's a no risk situation!

[Pedantic_Hibee]

Is this the highly professional chap who didn't know if the donations were tax-deductible or not?

"This is a movement"

They. Just. Keep. On. Giving. And. Giving.

What an absolute embarrassment. I would be cringing on a daily basis if I was a Hearts fan.

[HibbySpurs]

That "statement" from FoH simply made me

[Treadstone]

First time thats been mentioned ?

PS Remember your direct debit is 100% safe and secure, and all monies (minus very small administration charges) will be returned if the bid is not successful. It's a no risk situation!

[Mr White]

I could believe that was ghost written by banderson.

[CropleyWasGod]

Interesting

What did I say earlier about posturing in the media?

Whilst they say:-

The Foundation at this stage will not comment on the bids of other organisations. There’s been a fair amount of comment and conjecture, and perhaps even a bit of scaremongering from one or two individuals, but we’ve said all along we’re going to focus on what matters to us: Heart of Midlothian. The Administrators need a period of time to do their job and we will just let them get on with that job.

They then go on to say why their bid is the best.

[Mr White]

It's the biggest supporter led movement in the history of Scottish football.

Always with the size fixation, always.

[SolentHibee]

I personally don't see much wrong with the letter; it's written to a group of like-minded individuals and is just seeking to keep the interest going. I also think that them calling it a 'movement' is actually a good way to sell the whole idea of fan ownership.

Unlike most on here, I think the yams have done a pretty good job of raising money - it may be a bit laughable when they are baking cakes but it is better than doing nothing, even if the amounts raised are trivial in the grand scheme of things and I suspect that the act of doing something makes them feel less powerless in their dire situation.

Don't get me wrong, I want to see them die, and I want the arrogant obnoxious welts in their fan base to hurt. A lot.

Whether they have the stamina to keep going is questionable but I think as fans they've done alright in helping their club in a time of crisis. You can make a big deal about the fact that only 6k out of a 400k fan base have pledged, but the fact that others have not signed up cannot be blamed on the 6k who have.

[Pedantic_Hibee]

Solenthibee, it's not so much that they aren't doing all they can right now (as highly amusing as it is to see grown men baking cakes and painting faces), it's the fact they've sat back and watched all this for the past five years and done absolutely NOTHING about it when everyone else could see it clearly.

[SolentHibee]

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Solenthibee, it's not so much that they aren't doing all they can right now (as highly amusing as it is to see grown men baking cakes and painting faces), it's the fact they've sat back and watched all this for the past five years and done absolutely NOTHING about it when everyone else could see it clearly.

Pedantic, yes I knew that would be the obvious response if anybody chose to make one. I entirely agree.

It suited them to accept it as they loved all of the other stuff that came with it, and their attempts at denial, or their implications that Hibs are just the same have me shaking my head in puzzlement, so I can see where you are coming from, the time to act was years ago.

incidentally, I always thought I hated Hearts the Club but I recently realised that the only reason I really want the club to fail is not becuase of the entity that is Hearts, it is really the arrogance of their fans that I hate. It is them that I want to really suffer, and the best vehicle for that to happen is by their club suffering.

[Saorsa]

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That "statement" from FoH simply made me

When I read this bit

highly professionally

I laughed the loudest.





From what I've seen they look like a shower of bungling idiots bumbling their way along day by day. Great that they now have a choice between that shower of halfwits and another crook.

[Mac]

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I personally don't see much wrong with the letter; it's written to a group of like-minded individuals and is just seeking to keep the interest going. I also think that them calling it a 'movement' is actually a good way to sell the whole idea of fan ownership.

Unlike most on here, I think the yams have done a pretty good job of raising money - it may be a bit laughable when they are baking cakes but it is better than doing nothing, even if the amounts raised are trivial in the grand scheme of things and I suspect that the act of doing something makes them feel less powerless in their dire situation.

Don't get me wrong, I want to see them die, and I want the arrogant obnoxious welts in their fan base to hurt. A lot.

Whether they have the stamina to keep going is questionable but I think as fans they've done alright in helping their club in a time of crisis. You can make a big deal about the fact that only 6k out of a 400k fan base have pledged, but the fact that others have not signed up cannot be blamed on the 6k who have.

I hate them using that word as a pledge, if you pledge something you physically give something, at present its all ifs, buts and maybes and there is no way BDO can take it seriously unless there is some serious money man behind it as a guarantor.

I woudl guess the SPFL will also have grave doubts at them being able to get past christmas never mind the end of the season

[green is good]

It's a movement all right, a bowel movement.

[LeithBoozy]

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It's a movement all right, a bowel movement.

Very good, a tad near tea-time, but very good.

[Jim44]

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Pedantic, yes I knew that would be the obvious response if anybody chose to make one. I entirely agree.

It suited them to accept it as they loved all of the other stuff that came with it, http://www.filmon.com/tv/api/channel/370?session_key=32e64131e1e67b6fa5c3bcf7fd07b9b0

incidentally, I always thought I hated Hearts the Club but I recently realised that the only reason I really want the club to fail is not becuase of the entity that is Hearts, it is really the arrogance of their fans that I hate. It is them that I want to really suffer, and the best vehicle for that to happen is by their club suffering.

It's not only the fans who are obnoxious and arrogant, they seem to attract the same qualities in their players. The whole ethos of their club stinks and they deserve a slow painful death.

[sidneyhibbie]

Talk about flying by the seat of your pants its heading for Liquidation and Newco if thats all thats left at the trough.

[jacomo]

It's a no risk situation!

Blimey. That's a hostage to fortune.

[Dunderhall]

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Spoke with our Council Estates Dept. yesterday and was told the sales brochure for old Tynecastle School are ready and will go on line today.

We will see what uses are being suggested for this site and if any particular reference is made to the distillery.

If it says what I think it will say I am going to forward a copy to BDO just to remind them Hibs.net are watching them !

Tynecastle School sale details now online.

Most relevant part being.

Planning
The site lies within the Control of Major Accident Hazard (COMAH) inner zone consultation distance for the North British Distillery. Works carried out as part of recent developments may have affected the extent of the zones. This can be explored further with the Health and Safety Executive. The effect of the COMAH is that development of the site is likely to be restricted to office, business and storage uses of an appropriate scale and character. This includes classes 4, 5 and 6 of the Use Classes Order and there will be limitations on the number of floors and employees within a building.

[HibeeMG]

What the hell did he sign his name with? A crayon... a big indelible marker?

[Mac]

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Tynecastle School sale details now online.

Most relevant part being.

ouch!!!

[Pedantic_Hibee]

Are the SPFL or whatever they're called not a bit anxious that they won't be able to guarantee fulfilling their fixtures? Surely they would be aware of this?

Sidneyhibbie, sharpen that pencil and get writing another strongly worded, yet concerned, letter.

[Treadstone]

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Blimey. That's a hostage to fortune.

"Right lads, the bid failed, and we are in fact extinct as of today, but like i said NO RISK"

[rcarter1]

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Pedantic, yes I knew that would be the obvious response if anybody chose to make one. I entirely agree.

It suited them to accept it as they loved all of the other stuff that came with it, and their attempts at denial, or their implications that Hibs are just the same have me shaking my head in puzzlement, so I can see where you are coming from, the time to act was years ago.

incidentally, I always thought I hated Hearts the Club but I recently realised that the only reason I really want the club to fail is not becuase of the entity that is Hearts, it is really the arrogance of their fans that I hate. It is them that I want to really suffer, and the best vehicle for that to happen is by their club suffering.

In the dying days of a failing marriage he was taken in by the seductive charms of the bombshell from overseas. Promises of all sorts of acts kept him loyal, subdued in spite of her tantrums and mood swings, and all along his 'mate' across the road has been saying - she'll break you're Heart in the end...

[CropleyWasGod]

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Are the SPFL or whatever they're called not a bit anxious that they won't be able to guarantee fulfilling their fixtures? Surely they would be aware of this?

Sidneyhibbie, sharpen that pencil and get writing another strongly worded, yet concerned, letter.

They will be aware of it, of course. If it's like last year, there will be confidential conversations happening.

I'm warming to the idea of the SPFL asking for a bond. That would sting.