Share Transfers Agreed/Cooling off period

[PatHead]

I hear Rudi Wagesnatcher is going to their match on Saturday. Cue lots of Oohs and playing with their members down Tynecastle way this weekend.

[Dashing Bob S]

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There are 4 ways to liquidation for them:

1. Ukio admin not satisfied with improved offer for security over Tiny.
2. UBIG admin (once appointed) not satisfied with CVA offer (0p/£).
3. UBIG admin unwilling or unable to sell shares (currently frozen).
4. Run out of cash attempting to overcome 1-3.

Looks a pretty tall order to me. The Ukio admin wants this sorted sooner rather than later and my speculative hunch is that the rumoured £5M is their compromise bottom line. Can't see the muppets getting to that so liquidation still looks most likely to me.

Everybody who is getting excited, just focus on this post and ignore all the piss and wind from Murray, Banderson etc. Unless somebody comes in with a lot more money than FOH has now (and there are huge barriers to that for any sane business person) the scenario is still liquidation within the next couple of weeks, or struggling on to somewhere between October and the New Year, then running out of cash and liquidating then.

[Ozyhibby]

The EEN has turned into a Hearts Fanzine these days.

[Bostonhibby]

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I hear Rudi Wagesnatcher is going to their match on Saturday. Cue lots of Oohs and playing with their members down Tynecastle way this weekend.

Might even make an actual cash donation, if someone lends him a tenner.

[Weststandwanab]

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I don't see any Business men having £ 100,000 's sloshing around in bank accounts ready to hand over to FoH.

If they are business minded at all their money will be invested in property, bonds etc,none of which is easily accessible without considerable cost.

I would guess they would be looking to borrow money from banks or whatever to fund their promised loans to purchase HOMFC.

That would be a different kind of interest rate altogether.

Spot on IMO

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Our resident insolvency worker (RobinP?) will have a better insight into that. There is always a lot of work at the beginning, which can slow down. However, in this case, there is still a lot of high-value work to be done.

I agree particularly in this case.

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That's it, after years of having a good MP in Nigel Griffiths...... Ian Murray and Labour can go and F*** themselves. Wonder if he would have done same for us, doubt it.

More chance of me being First Minister tonight

[HUTCHYHIBBY]

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I hear Rudi Wagesnatcher is going to their match on Saturday. Cue lots of Oohs and playing with their members down Tynecastle way this weekend.

I believe he was pulling pints in The Polworth Tavern at the weekend.

[Platinum Scotty]

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Everybody who is getting excited, just focus on this post and ignore all the piss and wind from Murray, Banderson etc. Unless somebody comes in with a lot more money than FOH has now (and there are huge barriers to that for any sane business person) the scenario is still liquidation within the next couple of weeks, or struggling on to somewhere between October and the New Year, then running out of cash and liquidating then.

Bob, as a chap who is out of the country and relies on this forum, this is exactly the sort of post I need to be seeing...there are a couple of Yams down here and i cant wait for their team to go belly up !!

[StevieC]

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I think he means McDonald's

They built a McDonalds in memory of Muirton Park?? I don't get the connection

[Seveno]

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They built a McDonalds in memory of Muirton Park?? I don't get the connection

Yeh, they built the new stadium on old MacDonald's farm.

[connerg]

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I know of a very affluent Hearts season ticket holder,match sponsor etc who is a Director of a very large engineering company in Livingston, who was asked if he would be interested in contributing £250K for FOH

He told them to bolt

Was it ae?

[poolman]

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I believe he was pulling pints in The Polworth Tavern at the weekend.

Aye,he was

Local Yams pulling at their little weenies up Polwarth way

[brog]

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Lets hope the Ht score is 0 - 3 lets see the response to the begging bowl

Question for those with far more knowledge that me have any idea of BDO's cost to date £120k or is that way of the mark?

It was just under £190k for the month to July 19. If activity has continued at the same rate to now the total will be about £400k, or £1 per fan!

[johnrebus]

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No there is certainly a Morrison's supermarket on the site.

Ach, Morrisons, Asda, Tesco, Sainsbury, McDonalds. Lidl, Aldi - who cares?

Just as long as there is one of them just off the east end of Gorgie Road real soon.



PS

Am sure I saw some kind of memorial on the site of Muirton Park years ago?

But then again, I don't know what ****ing day it is........,

[YehButNoBut]

OK who complained then??

http://www.scotsman.com/sport/footba...role-1-3056761

Hearts administration: Ian Murray defends role

AFTER some growing unease about the amount of time he is devoting to the cause of saving a football club that is not based in his constituency, Federation of Hearts chairman and Edinburgh South MP Ian Murray yesterday presented his case for the ­defence.

The politician estimated the amount of time he spends on important business which relates to the club as only four hours per week.

Murray yesterday said he has only had one visitor to his constituency office on Minto Street in Edinburgh to complain about the time he is committing to FoH, who were last week named preferred bidders by BDO, Hearts’ administrators. Murray’s involvement as a figurehead has been invaluable – not just because of the profile he is able to command, but also because of his background in business. He is Labour’s Shadow Minister for employee relations, postal and consumer affairs.

However, not everyone is happy with Murray’s association with the task of saving Hearts, further details of which were revealed at Tynecastle on Monday when the politician fronted a press conference that explained many of the ins and outs of how the supporters’ group intended to finance their bid to purchase the club. A statement said “the process is far from complete and is likely to take a significant time working to achieve”.

A letter to The Scotsman from someone claiming to be an Edinburgh South constituent has called on Murray to step aside from his role as chairman and “re-direct his full attention to the job we elected him to do”. The letter also claims there is a petition being prepared that is to be delivered to Murray’s office. However, the MP was eager to set his detractors straight yesterday. He pointed out that he was only speaking to The Scotsman after he had completed his parliamentary duties for the day. With the exception of the two big press conferences, I have been doing this in my own time,” he said. “I answer the odd email and take the odd phone call – I genuinely am doing this in my own time.”

“Another thing I would say is that some people go swimming, collect stamps or go train spotting in their spare time, I am spending my spare time on Hearts. I don’t see what the problem is.

“What people won’t report is the dozen and dozens of letters and emails I have had from constituents thanking me for getting involved and representing their views. Because although Tynecastle is not in the constituency a lot of the fanbase is.”

He estimated that his involvement takes up about four hours a week. “Unless I have the audacity to watch a match – but that is in my own time too,” he said.

“I do regularly 70 to 80 hour weeks so four hours is tiny in comparison. I still receive and answer some 700 emails a day and do more than 175 open surgeries a year. My commitment and life is to my constituency first and foremost.”

Murray will be present at Saturday’s game against Aberdeen which is being sponsored by FoH. He will address the supporters during the half-time interval at Tynecastle in an attempt to promote the FoH bid to take control of the club.

While admitting that his original prediction that FoH’s bid would take only three months to push through was a “a little on the optimistic side”, Murray denied that his involvement is impacting on his parliamentary commitments and says he has the support of his fellow MPs at Westminster.

Murray stressed he is committed to fulfilling the aims set out when he emerged as the fans’ figurehead in April. Full supporter control of the club is the objective and he is due to speak about the fan-owned model in a debate on Radio 4 this weekend – and in his own time. “If I am at Westminster the [FoH] meetings take place either late on a Thursday evening and or a Friday evening, and if I am not at Westminster they take place on a Tuesday,” he said. “We have probably three meetings a month – we don’t have them every week.

“The only time where I have taken time during my working day if I am being completely honest was two media calls we have done – once when we put a bid in and once when we were given preferred bidder status. They took about an hour and a half.

“All the other political parties have supported me in this, so I don’t think it is a political thing,” Murray added. The politician acknowledged, however, that he had personally faced down one unhappy visitor to his constituency office.

“He was a Hibs fan who wanted to talk about Hearts,” he recalled. “I said I am sorry I ­cannot talk about Hearts this is my parliamentary office and that is something I am doing in my own time. Then he explained that he was a constituent so I was happy to talk to him. He went away satisfied with my explanation. He said he was glad to have come in and chat to me.”

“I have helped out dozens of businesses locally, including high-profile ones,” Murray added. “I would do the same if any business was asking me to give them assistance to save jobs and save the business. It is just because it is the emotional cocktail of football that creates the problem – but it is still a business that employs a lot of people.”

[Hibby70]

700 emails a day! Aye right.

[greenginger]

Well that bullsh*t will have used up Murray's 4 hour allocation for this week !


We won't see or hear from him this week , I don't think.

[c31]

Basically he is saying that all the 'people' who are due money don't matter as long as his hobby is ok

[magpie1892]

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Not sure the supermarket was ever built over Broomfield.

Last time I passed (in the train) looked like the site was part car park / part derelict land?

There's a Morrison's (formerly Safeway) there, 100%, with a car park.

(p.s. you can see it on Google maps)

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Being cold hearted and logical about it, the pitch is constantly being cut, churned up and replaced. I doubt any trace of anyone scattered there remains.

You forgot that old, Scottish constant: rain!

[Kato]

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I do regularly 70 to 80 hour weeks

Believe me for an MP that is getting off lightly.

I'm pretty easy about his involvement to be honest. The more trumpets and flumps they have on board the better.

[PapillonVert]

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Basically he is saying that all the 'people' who are due money don't matter as long as his hobby is ok

Indeed a public servant paid by the public who is prepared to overlook the wilful non-payment of PAYE-deducted income tax, national insurance, VAT, council tax, police bills, rental payments to publicly-subsidised HW University not to mention the numerous charities ripped off along the way. Still, as long as he can have four hours a week to indulge his "hobby" what do the millions owed to the public purse matter?

A massive disservice being done to the honest, tax-paying, bill-paying public by this alleged "public servant" as well as to all those football clubs competing with HMFC who didn't refuse to pay their dues so that they could employ players they otherwise couldn't afford.

[Barney McGrew]

The article reads to me like the Scotsman have joined in the cheerleading for FoH that the EEN have been guilty of for the last month or so.

It comes across very cynical of those who have had the temerity to question what their elected MP has been up to, while at the same time giving him every opportunity to trot out a load off excuses.

[Treadstone]

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The article reads to me like the Scotsman have joined in the cheerleading for FoH that the EEN have been guilty of for the last month or so.

It comes across very cynical of those who have had the temerity to question what their elected MP has been up to, while at the same time giving him every opportunity to trot out a load off excuses.

Reads like a pre-emptive strike. He is definitely worried if he has to do something like this. This won't have gone unnoticed by his party bosses.

[magpie1892]

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The article reads to me like the Scotsman have joined in the cheerleading for FoH that the EEN have been guilty of for the last month or so.

It comes across very cynical of those who have had the temerity to question what their elected MP has been up to, while at the same time giving him every opportunity to trot out a load off excuses.

I completely agree, and you're right, but being purely objective, there are huge commercial considerations behind the editorial line on this (and many other) topic/s at Barclay House.

The Scotsman's circulation (paid for) is about 28,500 daily. This is about a third of what the Press and Journal sells. The owners of TS, Johnston Press, paid £250m for the four Scotsman titles and they're now worth about 5% of that. Basically, the Evening News is keeping the whole show going.

So, on this basis, it makes a great deal of sense for them to run an editorial line which is pro-Hearts as: a) it sells papers to yams and, b) stimulates 'debate' among Hibbies about any (arguable) pro-Hearts line.

Basically, the Scotsman and its holding group is in very serious trouble and it's not going to do TS and the EN any good to go with back pages like: 'Hearts certain to be liquidated'. It would be hugely damaging and we have .net to have the truth discussed and analysed.

I know the majority of the Scotsman, Evening News and SoS sports staff personally having worked at all three titles and there's only a couple of yams among them.

They are trying - desperately - to sell papers. That's all there is to it.

[Bostonhibby]

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Reads like a pre-emptive strike. He is definitely worried if he has to do something like this. This won't have gone unnoticed by his party bosses.

Ain't going to say who but I know a labour party official who is a big football fan as well, was discussing this roaster with him and whilst he said there is absolutely nothing wrong with doing you bit for your team etc he nearly spilt his beer when I mentioned the "independent" chairman part and how, as a labour supporter myself I was concerned at how Murray might be construed by some as sending the message that as a full time labour MP he really didn't seem to give a monkeys about the trail of creditors left behind. He certainly isnt campaigning for the victims to be paid.

As he really doesn't know Edinburgh that well I suggested (for a bit of mischief) that it gives the impression that the party leans heavily towards the yam and maybe others will allow that to influence their voting intentions

[scott7_0(Prague)]

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700 emails a day! Aye right.

The figure could well be true and accurate, all those spam mails from Wonga, Cash Convertors, ChequePoint, Money Convertor etc etc

[Bostonhibby]

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The figure could well be true and accurate, all those spam mails from Wonga, Cash Convertors, ChequePoint, Money Convertor etc etc

Then there's the russian ladies looking for partners and Nigerian businessmen offering to buy your football team if you will just buy into their share issue first....................

[johnrebus]

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I completely agree, and you're right, but being purely objective, there are huge commercial considerations behind the editorial line on this (and many other) topic/s at Barclay House.

The Scotsman's circulation (paid for) is about 28,500 daily. This is about a third of what the Press and Journal sells. The owners of TS, Johnston Press, paid £250m for the four Scotsman titles and they're now worth about 5% of that. Basically, the Evening News is keeping the whole show going.

So, on this basis, it makes a great deal of sense for them to run an editorial line which is pro-Hearts as: a) it sells papers to yams and, b) stimulates 'debate' among Hibbies about any (arguable) pro-Hearts line.

Basically, the Scotsman and its holding group is in very serious trouble and it's not going to do TS and the EN any good to go with back pages like: 'Hearts certain to be liquidated'. It would be hugely damaging and we have .net to have the truth discussed and analysed.

I know the majority of the Scotsman, Evening News and SoS sports staff personally having worked at all three titles and there's only a couple of yams among them.

They are trying - desperately - to sell papers. That's all there is to it.

Makes complete sense to me.

The Scotsman is virtually dead in the water, with circulation dropping faster than a tarts drawers.


The quality of the sports journalism must have the likes of John Rafferty spinning in his grave.

[magpie1892]

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Makes complete sense to me.

The Scotsman is virtually dead in the water, with circulation dropping faster than a tarts drawers.


The quality of the sports journalism must have the likes of John Rafferty spinning in his grave.

It's getting to the point where the Scotsman (£1.20!!!) is going to have to fold or go online only. On a financial basis, there's no reason to continue. When I left (2004) it was still doing just under 90,000 copies daily. I've not been in the building for a couple of years but I know a couple of 'high ups' in addition to the 'rank and file' who tell me that the atmosphere in the place is poisonous with back-biting and internal politics at an all-time high.

Most of the poison and manoeuvring is coming from those who remain in the building who are (certainly in journalism), unemployable elsewhere. When I was there the place was stacked with people who came in, surfed the net, filed a 500-word story and went home. There's still a few of them left.

FWIW, I think the Evening News is still a decent paper. It needs to be.

[HUTCHYHIBBY]

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Basically he is saying that all the 'people' who are due money don't matter as long as his hobby is ok

Aye, and that all the other political parties support that opinion, alright then!

[YehButNoBut]

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Aye, and that all the other political parties support that opinion, alright then!

Can't think all (or any) of the other parties would support a tax dodging, charity stealing organisation such as Hearts.