Hearts bump HWU for training ground rent (merged)

[CropleyWasGod]

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The tramps should be back training on public parks.

Nah. Having to pay for their training facilities just hastens their end.

[Crossgates Hibs]

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I have absolutely NO DOUBT in my mind that this lot are being protected by political means, either fair or foul. However, if our politicians can get away Scot free with squandering £750m of our money on trams that were never needed, then protecting this lot should be a breeze for them

Cant help but agree with that unfortunately. If Hibs were in this position we would be goosed by now something stinks about all of this. My only hope is sevco happened so surely they will be allowed to fail and hopefully lose their tip of a ground.

[RoslinInstHibby]

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Nah. Having to pay for their training facilities just hastens their end.

exactly, the yams signed a 25 year contract and the Uni expect them to honour it....dont see the problem myself

[Bostonhibby]

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exactly, the yams signed a 25 year contract and the Uni expect them to honour it....dont see the problem myself

Is it because they are hearts? A club who have a tendency not to pay on time, or at all, and also to hold onto money that isn't there's whilst simultanously spending what they haven't got?
There's a creditors list running into hundreds all of whom have experience of the honour end of a contract with hearts.

Its easy to see why some are suspicious about why HWU had no problem renewing a deal with a business they allowed incredible laxity to in pursuing a previous debt that they were then bumped for by the very same business. Wish I had a credit arrangement like that.

Still its not really their money they are helping the yam out with...........again.

[RoslinInstHibby]

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Is it because they are hearts? A club who have a tendency not to pay on time, or at all, and also to hold onto money that isn't there's whilst simultanously spending what they haven't got?
There's a creditors list running into hundreds all of whom have experience of the honour end of a contract with hearts.

Its easy to see why some are suspicious about why HWU had no problem renewing a deal with a business they allowed incredible laxity to in pursuing a previous debt that they were then bumped for by the very same business. Wish I had a credit arrangement like that.

Still its not really their money they are helping the yam out with...........again.

but what would be the benefit to the uni of kicking them out now?

[Bostonhibby]

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but what would be the benefit to the uni of kicking them out now?

Credibility? There is a real stigma attached to how long they turned a blind eye to pursuing the original debt and a cynicism about how quickly they have continued the alliance.

How about the expectation that whatever financial planning they have used to underpin funding they are given won't go pear shaped because they appear to deal with organisations who are very poor credit risks, at best uncertain to be able to see out the contract at the price agreed.

The previous failure to collect, sue or terminate was very poor mismanagement of someone elses funds, very yam like really. What could possibly go wrong this time?

[CropleyWasGod]

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Credibility? There is a real stigma attached to how long they turned a blind eye to pursuing the original debt and a cynicism about how quickly they have continued the alliance.

How about the expectation that whatever financial planning they have used to underpin funding they are given won't go pear shaped because they appear to deal with organisations who are very poor credit risks, at best uncertain to be able to see out the contract at the price agreed.

The previous failure to collect, sue or terminate was very poor mismanagement of someone elses funds, very yam like really. What could possibly go wrong this time?

Would you say the same about the Police, stewarding companies and the likes who are owed money by Hearts, but who continue to trade with them post-administration?

[Bostonhibby]

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Would you say the same about the Police, stewarding companies and the likes who are owed money by Hearts, but who continue to trade with them post-administration?

If there was a thread about them all and their approach to the debt and willingness to get into bed with them yes CWG I would, more so with those that are paid for by the rest of us :-) even more so where our pink friends are concerned.

I do accept that under " normal" business rules that companies in admin and who have come out of it are likely to be better marks for their liabilities than previously but not many have financial business plans like this one. Very reliant on the diddies, an unknown number of whom will become diddies that didnae!

[CentreLine]

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If there was a thread about them all and their approach to the debt and willingness to get into bed with them yes CWG I would, more so with those that are paid for by the rest of us :-) even more so where our pink friends are concerned.

I do accept that under " normal" business rules that companies in admin and who have come out of it are likely to be better marks for their liabilities than previously but not many have financial business plans like this one. Very reliant on the diddies, an unknown number of whom will become diddies that didnae!

Do we know how many, if any, companies appear on both the hahahahearts list as well as sevco 5088?
Worse still, do we know if anyone managed to be on their lists and also those of Motherwell, Livi, Dundee and Dunfermline?

[CropleyWasGod]

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Do we know how many, if any, companies appear on both the hahahahearts list as well as sevco 5088?
Worse still, do we know if anyone managed to be on their lists and also those of Motherwell, Livi, Dundee and Dunfermline?

Sevco 5088 weren't in administration, though. They are the company that bought OldCo's assets.

AFAIK, though, the only creditor common to all 6 situations would be you and I

[Jack]

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Sevco 5088 weren't in administration, though. They are the company that bought OldCo's assets.

AFAIK, though, the only creditor common to all 6 situations would be you and I

Yup, I'd imagine the police, NHS, local council and any other statutory authority required to provide a service.

Voluntary organisations and charities are an optional extra.

[Part/Time Supporter]

Looking at some of the press coverage since this renegotiated deal was announced, it looks more like this was an internal argument within Hearts between BDO and the football staff than anything to do with HWU. Last midweek it's announced that HWU have won the bid for the improved facilities funded by the state. Jambos think great, we'll get use of some or all of that. A day or two later it's leaked to a friendly journalist (well known yam Brian McLauchlin) that oh no, those nasty beancounters at BDO are thinking of cancelling the HWU lease because it's too expensive. This has the potential to produce a bit of a backlash against BDO.

Three days later it's announced that HMFC and HWU have reached an amicable agreement. Then it's reported in the press effectively that "the terms are undisclosed, but it's understood that BDO have been convinced of the lease's value to HMFC". What that says to me is that there has been little or no change in terms of the lease, as you simply wouldn't get a negotiation and a decision out of a public body (HWU) that quickly. BDO have accepted whatever terms HWU were demanding, after caving into pressure from the HMFC football staff to continue the arrangement.

[greenginger]

Sound logic, PTS

[ACLeith]

Or BDO know the game's up and they will go pop before the first invoice pops through their letterbox?

[Bostonhibby]

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Looking at some of the press coverage since this renegotiated deal was announced, it looks more like this was an internal argument within Hearts between BDO and the football staff than anything to do with HWU. Last midweek it's announced that HWU have won the bid for the improved facilities funded by the state. Jambos think great, we'll get use of some or all of that. A day or two later it's leaked to a friendly journalist (well known yam Brian McLauchlin) that oh no, those nasty beancounters at BDO are thinking of cancelling the HWU lease because it's too expensive. This has the potential to produce a bit of a backlash against BDO.

Three days later it's announced that HMFC and HWU have reached an amicable agreement. Then it's reported in the press effectively that "the terms are undisclosed, but it's understood that BDO have been convinced of the lease's value to HMFC". What that says to me is that there has been little or no change in terms of the lease, as you simply wouldn't get a negotiation and a decision out of a public body (HWU) that quickly. BDO have accepted whatever terms HWU were demanding, after caving into pressure from the HMFC football staff to continue the arrangement.

This is a highly likely analysis, evidenced by the many many months that the same bodies ignored the accumulating debts they were incurring. Yamanomics in action in the public sector on this occasion.