Share Transfers Agreed/Cooling off period

[Moulin Yarns]

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I doubt it was ever intended to be, or for Hearts themselves. There's a reason why a warrant has been issued for his arrest and that he's on the run from the authorities. I think the ongoing criminal investigations on where the money came from that was put through Hearts to pay for those salaries, are potentially far more damaging for the club than anything we have seen so far. It's daft to speculate, but here's what I think will happen.

Scenario One
1. FOH named preferred bidder.
2. Bid dismissed by Lithuanians as too low.
3. Hearts proceed to liquidation, or another appeal to fans results in upped bid, which fails - Hearts proceed to liquidation.

Scenario Two
1. FOH named preferred bidder.
2. Lithuanians unable to accept/reject "at present moment in time" due to frozen assets/pending investigations etc
3. Hearts carry on in administration.
4. Hearts hit cash flow problems before Christmas - enforced liquidation.

I think there will be a request from Lithuanian government and police authorities, in cooperation with UK police and tax officials (not happy at being bumped) to examine all financial and legal documents held by and relating to the club covering the tenure of Romanov, and the possible questioning of all Hearts directors over this period to determine what they knew about the sources of the finance for the inflated player contracts.

Many people are being a little taken in by the local media perspective and looking to see an end game to Hearts problems. I'm a glass is half-full man, and I really believe that these problems are only just beginning.

My hero

[Platinum Scotty]

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I doubt it was ever intended to be, or for Hearts themselves. There's a reason why a warrant has been issued for his arrest and that he's on the run from the authorities. I think the ongoing criminal investigations on where the money came from that was put through Hearts to pay for those salaries, are potentially far more damaging for the club than anything we have seen so far. It's daft to speculate, but here's what I think will happen.

Scenario One
1. FOH named preferred bidder.
2. Bid dismissed by Lithuanians as too low.
3. Hearts proceed to liquidation, or another appeal to fans results in upped bid, which fails - Hearts proceed to liquidation.

Scenario Two
1. FOH named preferred bidder.
2. Lithuanians unable to accept/reject "at present moment in time" due to frozen assets/pending investigations etc
3. Hearts carry on in administration.
4. Hearts hit cash flow problems before Christmas - enforced liquidation.

I think there will be a request from Lithuanian government and police authorities, in cooperation with UK police and tax officials (not happy at being bumped) to examine all financial and legal documents held by and relating to the club covering the tenure of Romanov, and the possible questioning of all Hearts directors over this period to determine what they knew about the sources of the finance for the inflated player contracts.

Many people are being a little taken in by the local media perspective and looking to see an end game to Hearts problems. I'm a glass is half-full man, and I really believe that these problems are only just beginning.

works for me!!!

[Twa Cairpets]

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Sure, but many half decent clubs in the first place have done quite well and clawed their way back and on the face of it, clubs which were never going to win leagues etc anyway are probably rightly were they are just now even after administration.

Let's face it, once Rangers come back to the Scottish Premiership, it won't be long until they start winning things again. Though this is an exception to the rule.

Don't really buy into this.

The list of clubs who've gone into administration have all (again with the exception I'd say of Motherwell) suffered. Portsmouth, Coventry, Luton, Charlton, Leeds - all premier clubs not so long ago, all now struggling, despite (except Luton) being decent sized clubs. Southampton years in wilderness, same with Palace.

The Huns have been punished - whether we think they got what was due to them or not is moot - in a footballing sense they've been out of the top flight for at leat three years - that is not insignificant. We may want them to suffer for ever, but that would be neither just nor realistic.

Hearts will come out of this - if they do come out of it - hugely weakened.

[hibsmad]

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I doubt it was ever intended to be, or for Hearts themselves. There's a reason why a warrant has been issued for his arrest and that he's on the run from the authorities. I think the ongoing criminal investigations on where the money came from that was put through Hearts to pay for those salaries, are potentially far more damaging for the club than anything we have seen so far. It's daft to speculate, but here's what I think will happen.

Scenario One
1. FOH named preferred bidder.
2. Bid dismissed by Lithuanians as too low.
3. Hearts proceed to liquidation, or another appeal to fans results in upped bid, which fails - Hearts proceed to liquidation.

Scenario Two
1. FOH named preferred bidder.
2. Lithuanians unable to accept/reject "at present moment in time" due to frozen assets/pending investigations etc
3. Hearts carry on in administration.
4. Hearts hit cash flow problems before Christmas - enforced liquidation.

I think there will be a request from Lithuanian government and police authorities, in cooperation with UK police and tax officials (not happy at being bumped) to examine all financial and legal documents held by and relating to the club covering the tenure of Romanov, and the possible questioning of all Hearts directors over this period to determine what they knew about the sources of the finance for the inflated player contracts.

Many people are being a little taken in by the local media perspective and looking to see an end game to Hearts problems. I'm a glass is half-full man, and I really believe that these problems are only just beginning.

I love your positive posts on the matter Bob.

Thank you, not for the first time, for raising my spirits just when I start to tell myself that they are going to sneak through this relatively unscathed.

I sincerely hope that you are right.

[MADE IN LEITH]

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Don't really buy into this.

The list of clubs who've gone into administration have all (again with the exception I'd say of Motherwell) suffered. Portsmouth, Coventry, Luton, Charlton, Leeds - all premier clubs not so long ago, all now struggling, despite (except Luton) being decent sized clubs. Southampton years in wilderness, same with Palace.

The Huns have been punished - whether we think they got what was due to them or not is moot - in a footballing sense they've been out of the top flight for at leat three years - that is not insignificant. We may want them to suffer for ever, but that would be neither just nor realistic.

Hearts will come out of this - if they do come out of it - hugely weakened.

Sure, It is a hard one to swallow mate, however the bottom line is they will still exist and eventually and come out of it. Three years in my opinion is not a long time and Rangers will be a force in the near future, you can count on that. Further, if Hearts do manage to get out of this, they will still "function" in the Scottish Premiership which isn't a strong League in the first place.

Being realistic, in the English Premiership, there are some clubs which Jockey between the Leagues and have their day, though your right Administration has had a major factor on their stance throughout the years. But I am not wholly buying the principle that Admin is totally to blame for clubs standing over a degree of time.

[CropleyWasGod]

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Sure, It is a hard one to swallow mate, however the bottom line is they will still exist and eventually and come out of it. Three years in my opinion is not a long time and Rangers will be a force in the near future, you can count on that. Further, if Hearts do manage to get out of this, they will still "function" in the Scottish Premiership which isn't a strong League in the first place.

Not sure if this is a given, TBH.

They are struggling financially at the moment, and I can't see how they are going to deal with that without cutting their cloth drastically.

[jdships]

One of my neighbour's is a " hands on " member of FOH .
Chatting this morning he is very optimistic for the immediate future but has reservations of the sustainability of working capital without major sponsorship(s)

His quote "........ there is great euphoria among the support at present but to sustain that the team will have to deliver and make progress
and , with the probability of relegation, ensure promotion back to the Premier League . This remembering that in all probability Rangers will also be in the " Championship " next season "

Thought this made a fair bit of sense

[MADE IN LEITH]

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Not sure if this is a given, TBH.

They are struggling financially at the moment, and I can't see how they are going to deal with that without cutting their cloth drastically.

Yeh mate....time will tell.

[Onion]

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You have zero credibility on this issue. I could drag up literally dozens of posts by you along the lines of "administration will never happen".



Presumably if it was such a success, they would seek to repeat it?

If they keep the ground, their SPL status, and clear all their debts in one stroke then why wouldn't they ?? In terms of risk/reward, it would be one of the best bits of business in Scottish Football .... ever ! The only people who might not think so would be the Liths.

[CropleyWasGod]

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If they keep the ground, their SPL status, and clear all their debts in one stroke then why wouldn't they ?? In terms of risk/reward, it would be one of the best bits of business in Scottish Football .... ever ! The only people who might not think so would be the Liths.

... except that they wouldn't.

They would still have debts to whoever put the money up to buy the club, as well as the football debts.

[Kaiser1962]

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Not sure if this is a given, TBH.

They are struggling financially at the moment, and I can't see how they are going to deal with that without cutting their cloth drastically.

Totally agree. They are in trouble.

[Liberal Hibby]

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The only people who might not think so would be the Liths.

Who are pulling all the strings in their administration - so why on earth are they going to allow Hearts to get off?

[PatHead]

Does anyone know a realistic timescale now that FoH are named preferred bidder and have access to the books? How long do they have to submit their final offer? I assume it will either be accepted or rejected fairly sharpish as the Liths have been quite quick in responding so far. (Ignoring the fact that assets are frozen.

[Seveno]

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I doubt it was ever intended to be, or for Hearts themselves. There's a reason why a warrant has been issued for his arrest and that he's on the run from the authorities. I think the ongoing criminal investigations on where the money came from that was put through Hearts to pay for those salaries, are potentially far more damaging for the club than anything we have seen so far. It's daft to speculate, but here's what I think will happen.

Scenario One
1. FOH named preferred bidder.
2. Bid dismissed by Lithuanians as too low.
3. Hearts proceed to liquidation, or another appeal to fans results in upped bid, which fails - Hearts proceed to liquidation.

Scenario Two
1. FOH named preferred bidder.
2. Lithuanians unable to accept/reject "at present moment in time" due to frozen assets/pending investigations etc
3. Hearts carry on in administration.
4. Hearts hit cash flow problems before Christmas - enforced liquidation.

I think there will be a request from Lithuanian government and police authorities, in cooperation with UK police and tax officials (not happy at being bumped) to examine all financial and legal documents held by and relating to the club covering the tenure of Romanov, and the possible questioning of all Hearts directors over this period to determine what they knew about the sources of the finance for the inflated player contracts.

Many people are being a little taken in by the local media perspective and looking to see an end game to Hearts problems. I'm a glass is half-full man, and I really believe that these problems are only just beginning.

I think and hope that you are correct, Bob. There has to be more than a suspicion that Vlad used Hearts for at least some money laundering. The Lithuanian Financial Crime Unit is unlikely to let this go.

[Twa Cairpets]

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... except that they wouldn't.

They would still have debts to whoever put the money up to buy the club, as well as the football debts.

Pocking up WhileTheChiefs point from earlier, if they keep their SPL status at the end of this season, having played all their games, they will have done a bloody good job from a football perspective. This is not in any way to given the merest scintilla of credit to how it is that they have arrived in the position they are in, but ignoring all the crap and acknowledging that they are an institution of the lowest, basest type, if they stay up with that squad then Locke deserves to have the fans build him his own statue, probably reminiscent of "Mannequin Pis" in Brussels but with more lifelike fluid. He'd like that. Allegedly

[PatHead]

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I think and hope that you are correct, Bob. There has to be more than a suspicion that Vlad used Hearts for at least some money laundering. The Lithuanian Financial Crime Unit is unlikely to let this go.

Just hope they don't think they are as well to accept the "first" offer and can carry out investigations after the sale is concluded.

[PatHead]

Not wanting to bring politics into the thread just wanted to highlight the quality of man F0H have on their side.

[Just Alf]

Begging letter going out today.....

"Dear Yam,
Yesterday, the joint administrators of Hearts announced that the bid submitted on behalf of the Foundation of Hearts would be “preferred bidder”.

This is a very important announcement and one all the staff were hoping for.

It is an important milestone in the process to get Hearts back on its feet, particularly because it allows the Foundation and the club the opportunity to work together to promote the importance of direct debits.

So far I am told 6,000 supporters have signed up to a monthly commitment from just £10, but to deliver a supporter-controlled Hearts the reality is the more subscriptions the Foundation has, the better it is for the club.

For that reason today I am asking, if you are able, to sign up to a monthly direct debit for the Foundation of Hearts, if you’ve not already done so.

We’ve seen the incredible unity of the club in recent weeks following a very difficult summer. There’s now a real opportunity to create something very special – a moment in Scottish football history.

I know you’ve dug so deep in recent times, for which we’re thankful, but I hope this can be one last push which gives us a future to be excited about.

Set up your Direct Debit today...
Click here and play your part in history

Mon on the Hearts!


Gary Locke
Manager, Heart of Midlothian FC
PS - If you've already set up a direct debit, don't worry, the Foundation has your details - and I thank you sincerely for your support!"

[Liberal Hibby]

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We’ve seen the incredible unity of the club in recent weeks following a very difficult summer. There’s now a real opportunity to create something very special – a moment in Scottish football history.

They seem to be getting their 'moments' and 'movements' mixed up. Which is it? Perhaps both 'a movement moment'?

And if Locke saves them from the drop maybe they'll erect a monument for the movement, moment?

Mmmmmm....

[greenginger]

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Just hope they don't think they are as well to accept the "first" offer and can carry out investigations after the sale is concluded.

Seeing as the majority of Vlad/UBIG/Ukio Bankas "assets" seemed to be property or development sites is there any reason for the Ukio Admin. to rush in and take the first offer for the PBS ?

I think it will be a considered decision as to what is in the best interests of the Ukio Bankas creditors.

[Twa Cairpets]

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Begging letter going out today.....

"Dear Yam,

....

Mon on the Hearts!

"Mon on"?
Fuds

[Phil D. Rolls]

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Begging letter going out today.....

"Dear Yam,
Yesterday, the joint administrators of Hearts announced that the bid submitted on behalf of the Foundation of Hearts would be “preferred bidder”.

This is a very important announcement and one all the staff were hoping for.

It is an important milestone in the process to get Hearts back on its feet, particularly because it allows the Foundation and the club the opportunity to work together to promote the importance of direct debits.

So far I am told 6,000 supporters have signed up to a monthly commitment from just £10, but to deliver a supporter-controlled Hearts the reality is the more subscriptions the Foundation has, the better it is for the club.

For that reason today I am asking, if you are able, to sign up to a monthly direct debit for the Foundation of Hearts, if you’ve not already done so.

We’ve seen the incredible unity of the club in recent weeks following a very difficult summer. There’s now a real opportunity to create something very special – a moment in Scottish football history.

I know you’ve dug so deep in recent times, for which we’re thankful, but I hope this can be one last push which gives us a future to be excited about.

Set up your Direct Debit today...
Click here and play your part in history

Mon on the Hearts!


Gary Locke
Manager, Heart of Midlothian FC
PS - If you've already set up a direct debit, don't worry, the Foundation has your details - and I thank you sincerely for your support!"

Does this mean they have been told they need to up their offer, or the club is liquidated?

[CropleyisGod]

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I doubt it was ever intended to be, or for Hearts themselves. There's a reason why a warrant has been issued for his arrest and that he's on the run from the authorities. I think the ongoing criminal investigations on where the money came from that was put through Hearts to pay for those salaries, are potentially far more damaging for the club than anything we have seen so far. It's daft to speculate, but here's what I think will happen...

…Portly round faced man in bright stripy blazer enters room…

Mr MP: Hi, I’m Mr MP, Chairman of Save Hearts In Trouble...We are very pleased to have been confirmed as preferred bidders for YOM FC. I’m here to see the books…

Mr BJ [rising from large desk held together with duck tape and supported by bricks): Good to meet you…was that S.H.I.T. you said? I’m with BOD the YOM FC administrators and I’m looking forward to doing business with S.H.I.T..

…the two men shake hands warmly.

Mr BJ: We’ve prepared a diligence room with all the supporting documentation which I’ll take you to shortly…

…Mr BJ rises from his desk. He opens a door into a cupboard and brings out two one piece white overall suits and two protective masks…

Mr BJ: You’ll need to put on this protective clothing I’m afraid, the diligence room is caked in flaking asbestos. You’re wheezing enough as it is and I’m not sure our liability insurance covers you…Ha!Ha!Ha!

…Mr MP struggles to fit his huge torso into the white suit and the mask barely covers the small nose on his massive round head. The two men exit the BOD office and head down a dark, unlit, corridor…

Mr BJ [opening another door, freshly painted]: here it is. The diligence room. I’ll leave you to it because my wife doesn’t like me being in here for long.

Mr MP: Ok, no worries. Surely it can’t be that bad?...

…Mr MP looks around and all he can see is a huge pile of what looks like hamster bedding filling the room…

Mr MP: HOLD ON! Where’s the books?

Mr BJ [pointing at the huge pile of shredded paper]: That’s them there…Mr Ramius the previous owner told us, as he jumped into a taxi, that this was standard practice at the beginning of Administration in his mother Russia.

Mr MP: But what can we do with that?

Mr BJ: Well we got the under 20 team to try and stick the bits together with sellotape for a few days but frankly that caused more problems than it solved, even though every one of them is worth at least £10m…they’re not the brightest. Don’t you know anyone who can help?

Mr MP: Only Lord Pishybreeks but we can’t afford his expenses.

…to be continued

[Lester B]

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"Mon on"?
Fuds

[StevieC]

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but I hope this can be one last push which gives us a future

If the missus had had as many "last pushes" as Hearts, we'd still be waiting on our youngest to be born!

[jacomo]

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"Mon on"?
Fuds

Losing a football match to this guy is shaming.

[Gus Fring]

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Losing a football match to this guy is shaming.

We didn't lose to him, we lost in spite of him

[Broken Gnome]

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Does this mean they have been told they need to up their offer, or the club is liquidated?

Going by the article behind the Times paywall this morning, yes. Can't see it anywhere else. Liquidation threat unless FoH find an extra million in the next two months, and the court case to appoint Lithuanian administrators won't be concluded for another month.

[Sanger]

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Going by the article behind the Times paywall this morning, yes. Can't see it anywhere else. Liquidation threat unless FoH find an extra million in the next two months, and the court case to appoint Lithuanian administrators won't be concluded for another month.

What's the source of the Times £1 million more needed? Given FOH are rumoured to up their bid to £3m and were still described as being millions short. That would make the Liths looking for £4 million which means FOH were not millions short. £4m must be well short of any land valuation of the ground.

[greenpaper55]

The times piece is here

http://www.thetimes.co.uk/tto/sport/...cle3845664.ece

it does not look good for them.