Share Transfers Agreed/Cooling off period

[Spike Mandela]

Deadline has passed and no word of any bidder dropping out yet.

[HibbySpurs]

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True - but this time around, hmrc's share of the debt isn't big enough for an effective vote. It is all down to the Lithuanian take on matters.

Aye, I know mate, was just using HMRC v the Huns as a case in point :-)

[Spike Mandela]

Radio Scotland reporting only FoH met the deadline but expecting other two bidders to put in late bids tonight.

What's the point of a deadline then?

[Keith_M]

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Radio Scotland reporting only FoH met the deadline but expecting other two bidders to put in late bids tonight.

What's the point of a deadline then?

IIRC, there were about 40 deadlines during Rangers Administration.

[Sanger]

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Radio Scotland reporting only FoH met the deadline but expecting other two bidders to put in late bids tonight.

What's the point of a deadline then?

Bob's warden just finishing off the letter now saying he has the money.

[HUTCHYHIBBY]

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Bob's warden just finishing off the letter now saying he has the money.

Hope his name isnae sidney!

[CropleyWasGod]

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IIRC, there were about 40 deadlines during Rangers Administration.

That's how really big teams do things.

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Radio Scotland reporting only FoH met the deadline but expecting other two bidders to put in late bids tonight.

What's the point of a deadline then?

Think BDO said "close of business" today. They do work long hours, the wee souls.

[sidneyhibbie]

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Tell them to read Insolvency News!

I Have said for weeks that the big L Is on the way BDO Are just stringing the yams along the 7k season tickets *****ed away is the final nail the house of cards will implode very very soon.

[PatHead]

SSN mentioned an improved offer by FoH, Anyone know what it is?

[Lucius Apuleius]

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I Have said for weeks that the big L Is on the way BDO Are just stringing the yams along the 7k season tickets *****ed away is the final nail the house of cards will implode very very soon.

Wow. You ever thought of writing a book? Prophets, Seers and Sages through the Ages? Sidney's Almanac?

[CropleyWasGod]

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SSN mentioned an improved offer by FoH, Anyone know what it is?

Given that we know nothing about the original offer, other than what's been guessed at, I'll guess it's "guess plus 10%".

[YehButNoBut]

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SSN mentioned an improved offer by FoH, Anyone know what it is?

Looking at this thread on Keekback some were worried after watching Jackson's interview on STV earlier that the FOH bid could have been too low and they may have been forced to drop out, so it may be that they have upped it just to make sure they are not kicked out of the process.

Some of them seem to think that the Massone bid may be the closest to being the preferred bidder, although they get a hard time for not supporting the FOH bid.

Link below to thread & STV interview (in case anyone missed it earlier)

http://www.hmfckickback.co.uk/index....-exit-process/

http://sport.stv.tv/football/clubs/h...-buy-the-club/

Interesting part of the STV interview where Jackson says that the fans have given & given & given & there will come a time when they cannot give any more.

If he believes that is the case then how can he accept the fans funding FOH is anything but a short term solution & cannot be accepted as proof of funding long term.

[cabbageandribs1875]

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And the Yams know that. All they have to do is play the first few games and they will assume the powers that be will do all they can to help them through the season, as the alternatives are utterly horrendous for the SPL. That will include the pre-payment of TV money, delay or removal of any o/s SPL/SFA fines, rearrangement of fixtures to maximise the Yams income/cash flow, and leniency when it comes to financial discipline/accounting.

this, unfortunately

not pleasing :(

[OrdHibby]

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SSN mentioned an improved offer by FoH, Anyone know what it is?

Two more have pledged bringing another £20 to the table.

[jacomo]

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Just a quickie, what will happen to hertz if they are liquidated before the season starts or are liquidated after it starts, and what will happen to the league if they are liquidated before/after season begins?

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Looking at this thread on Keekback some were worried after watching Jackson's interview on STV earlier that the FOH bid could have been too low and they may have been forced to drop out, so it may be that they have upped it just to make sure they are not kicked out of the process.

Some of them seem to think that the Massone bid may be the closest to being the preferred bidder, although they get a hard time for not supporting the FOH bid.

Link below to thread & STV interview (in case anyone missed it earlier)

http://www.hmfckickback.co.uk/index....-exit-process/

http://sport.stv.tv/football/clubs/h...-buy-the-club/

Interesting part of the STV interview where Jackson says that the fans have given & given & given & there will come a time when they cannot give any more.

If he believes that is the case then how can he accept the fans funding FOH is anything but a short term solution & cannot be accepted as proof of funding long term.

That Brian Jackson interview should be pretty chilling to any Yam.

If the money for the 7,000 STs sold before admin is gone, are they going to honour those STs and let them in anyhow? Or ask them to pay again. Presumably there's a big crossover between ST Holders and FOH pledgers, so if they say the season tickets are void they might just cancel their DDs to FoH sooner rather than later.

No way the SPFL can expect them to fulfil their fixtures next season though - no bidder has enough working capital to see them through it seems.

[essexhibee]

The idea of a club being run on pledges is ridiculous. What will happen when a number of the pledgers realise they can't afford what they are pledging and pull out?

Ridiculous idea that will never work surely.

[Ozyhibby]

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That Brian Jackson interview should be pretty chilling to any Yam.

If the money for the 7,000 STs sold before admin is gone, are they going to honour those STs and let them in anyhow? Or ask them to pay again. Presumably there's a big crossover between ST Holders and FOH pledgers, so if they say the season tickets are void they might just cancel their DDs to FoH sooner rather than later.

No way the SPFL can expect them to fulfil their fixtures next season though - no bidder has enough working capital to see them through it seems.

It sounds like (I can't seem to view it on my phone.) the focus of the interview is on the working capital part of the bid which you would think would be least important to the lithunians. Could this be because the football authorities have set a deadline for BDO to show that Hearts will be able to complete their fixtures.
There has been total silence on the subject from the SPFL but useless as they are I don't believe for a minute they are doing nothing.
Also, how many days to the derby? Would tickets not normally be on sale by now?

[Fat Penlon]

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Looking at this thread on Keekback some were worried after watching Jackson's interview on STV earlier that the FOH bid could have been too low and they may have been forced to drop out, so it may be that they have upped it just to make sure they are not kicked out of the process.

Some of them seem to think that the Massone bid may be the closest to being the preferred bidder, although they get a hard time for not supporting the FOH bid.

Link below to thread & STV interview (in case anyone missed it earlier)

http://www.hmfckickback.co.uk/index....-exit-process/

http://sport.stv.tv/football/clubs/h...-buy-the-club/

Interesting part of the STV interview where Jackson says that the fans have given & given & given & there will come a time when they cannot give any more.

If he believes that is the case then how can he accept the fans funding FOH is anything but a short term solution & cannot be accepted as proof of funding long term.

Some people on here wonder why others question the ability of BDO to do the right thing for the creditors or even question their integrity. Is it any wonder people doubt them when Brian Jackson still refers to UBIG as a bank in today's video! He even manages to talk about their 50% of the shares without mentioning that even if they are in admin in 2-3 weeks they as an asset of UBIG will still be frozen by the courts in Lithuania!

TOSSER!

[The Green Goblin]

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I Have said for weeks that the big L Is on the way BDO Are just stringing the yams along the 7k season tickets *****ed away is the final nail the house of cards will implode very very soon.

Welcome back....

[OrdHibby]

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The idea of a club being run on pledges is ridiculous. What will happen when a number of the pledgers realise they can't afford what they are pledging and pull out?

Ridiculous idea that will never work surely.

Everything in scottish football is ridiculous. The authorities have stood back and allowed this lot to make a mockery of the game in Scotland, or should that be an even BIGGER mockery. Where does this leave Morton ? Do they care ? Do they ****.
Imagine however a scenario where The Rangers had finished 2nd behind Partick Thistle last season, do you think we'd still be in this predicament ?

The authorities in the country have to go alone with the gorgay mutants.

Rant over.

GOOD To Be

[clerriehibs]

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That Brian Jackson interview should be pretty chilling to any Yam.

If the money for the 7,000 STs sold before admin is gone, are they going to honour those STs and let them in anyhow? Or ask them to pay again. Presumably there's a big crossover between ST Holders and FOH pledgers, so if they say the season tickets are void they might just cancel their DDs to FoH sooner rather than later.

No way the SPFL can expect them to fulfil their fixtures next season though - no bidder has enough working capital to see them through it seems.

Surely, while the club is the same legal entity as it was before admin, and if it's flogged as a going concern, then STs must be honoured? They'll only become worthless in the event of liquidation, no?

[H18sry]

If FOH are not given preferred status, does all the money that has been collected get returned

[AndyM_1875]

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If FOH are not given preferred status, does all the money that has been collected get returned

Minus an Admin charge , yes

[Onion]

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That Brian Jackson interview should be pretty chilling to any Yam.

If the money for the 7,000 STs sold before admin is gone, are they going to honour those STs and let them in anyhow? Or ask them to pay again. Presumably there's a big crossover between ST Holders and FOH pledgers, so if they say the season tickets are void they might just cancel their DDs to FoH sooner rather than later.

No way the SPFL can expect them to fulfil their fixtures next season though - no bidder has enough working capital to see them through it seems.

Of couse they will. Like all other creditors, they'll get a full refund of 8p in the £

[bingo70]

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Minus an Admin charge , yes

How can it? It's been given to the administrators to spend to keep the club afloat and has now been spent.

I think the original plan was to refund the payments if the bid failed but that changed when they went into admin.

[H18sry]

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How can it? It's been given to the administrators to spend to keep the club afloat and has now been spent.

I think the original plan was to refund the payments if the bid failed but that changed when they went into admin.

So what have the other bidders invested to keep them afloat does the fact that they are using FOH cash not give them an unfair advantage when preffered bidder status is announced.

[Part/Time Supporter]

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If FOH are not given preferred status, does all the money that has been collected get returned

FOH haven't collected any money from fans (yet).

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How can it? It's been given to the administrators to spend to keep the club afloat and has now been spent.

I think the original plan was to refund the payments if the bid failed but that changed when they went into admin.

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So what have the other bidders invested to keep them afloat does the fact that they are using FOH cash not give them an unfair advantage when preffered bidder status is announced.

FOH haven't put any funds into Hearts.

They're offering to buy Hearts out of administration, with up front capital from a few investors. Then they are proposing to fund ongoing cash deficits with these pledges from fans.

[H18sry]

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FOH haven't collected any money from fans (yet).





FOH haven't put any funds into Hearts.

They're offering to buy Hearts out of administration, with up front capital from a few investors. Then they are proposing to fund ongoing cash deficits with these pledges from fans.

What about all the bake sales and functions they have been holding and the charity football match they had last week that has raised money for FOH ?

[Dalkeith]

According to some ITK over the road FOH was the lowest of the 3 bids and less than half the value of the highest bid

"Despite FoH knowing all that, their bid was a distant third out of three, and less than half the top bid. That's makes me nervous that perhaps (just perhaps) they are trying to be a bit too clever, and that they may risk losing the chance to buy Hearts, in an unsuccessful attempt to save a few quid."

[Part/Time Supporter]

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What about all the bake sales and functions they have been holding and the charity football match they had last week that has raised money for FOH ?

I was referring to the bank account pledges.

As far as I am aware most of the "charity" fundraising over the last month or so has been providing funds to Hearts directly, rather than FOH.