Share Transfers Agreed/Cooling off period

[Leithenhibby]

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Clutching. At. Straws.

Sadly, the cheating crunts will survive this.

Seriously.....

And how do you come to this conclusion?....

[Dashing Bob S]

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Seriously.....

And how to you come to this conclusion?....

I'm predicting it's going to go tits up big time for them.

[The Green Goblin]

To put all of this in perspective, anything that smells vaguely positive about the yams right now is about them escaping certain death to exist as a bare bones, struggling, poor, desperate version of their former unpleasant selves. It just makes all the "celebrating" from them seem even more amusing and pitiful really.

[weecounty hibby]

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Seriously.....

And how to you come to this conclusion?....

To be honest i agree with him. I know diddley squat about financial matters but i do know they are a lucky shower of *******s!

[Leithenhibby]

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To be honest i agree with him. I know diddley squat about financial matters but i do know they are a lucky shower of *******s!

Nothing has been decided as yet, they will suffer for years and years to come. No Mr money bags now to fund them.

This was always going to happen, the CVA was always going to be put on the table.

Let's just see who blinks first........

[#FromTheCapital]

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Starting the CVA process is way of forcing the debtor to put the real money on the table. The major creditors want to see what is really on offer to see if comes anywhere the value they would obtain by liquidating the assets. If the FOH money upfront is well short of that valuation which is likely to be the case the creditors will reject the CVA and proceed to liquidation. This is the start of the end game folks!

Find this very hard to believe. Everyone on here (including me) goes on about fannies like Barry Anderson or whoever putting a positive spin on everything, but this is just as bad.

[SteveHFC]

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Pissing myself at some of the creaming over on sickback. They actually think it's all going to be rosy. There team is down to start with, they won't have any real cash, they Prob won't come back up right away yet who comes out the woodwork? Our wee gimp Craigieboy :D A thread for "all us looking in" are they so deluded they think they will ever be close to what they were? In the words of Craigieboy himself I'm very much PLEASING at all this. Be even funnier if they still went tits up :D

Don't worry mate Craigieboy will be in tears next Wednesday after we put them out of the league cup

[The Green Goblin]

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Don't worry mate Craigieboy will be in tears next Wednesday after we put them out of the league cup

Yup. Tears of pride.

[Bristolhibby]

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Yup. Tears of pride.

So very proud.

[Waxy]

Now that think they're saved, there will be "sack locke" threads every saturday night. Sign rudi sign paulo.straight back into the jambo mentality.

[Chuck Rhoades]

Can someone PM the list of companies they are/were due cash to assp please?

[IWasThere2016]

The tax-dodging, charity-robbing, puddle-drinking, rat-eaters will still have a **** team, a **** stadium, no training facilities and Locke the cock! What's to worry about .. Oh, and they're going doon to join Der Hun and possibly their nemesis at Dens. The DDs will dry up and they've no real means of improving the financial situation. They will soon be irrelevant..

[Pedantic_Hibee]

Can't help but think their gloating over the road will come back to haunt them. Justifiably so given their crass lack of remorse for the amount of other innocent people's money they've spent.

It's a level playing field this year and we are already schooling them.

[Onion]

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Nothing has been decided as yet, they will suffer for years and years to come. No Mr money bags now to fund them.

This was always going to happen, the CVA was always going to be put on the table.

Let's just see who blinks first........

If they get out of Admin still owning their ground and (virtually) debt free, it will be a massive victory for them. Yes, immoral and abhorrent, but the Yams won't care about that. They were in a terrible state when Vlad took over. Since then, they've had £70M of investment, cup wins, great players, big Euro nights and virtually cleared their £20M of debt for the cost of what .... a 15 point penalty (and possible relegation) ?

If they agree a CVA, they'll still be in a better financial position than when Vlad took over and will quickly find new, willing investors.

[cocopops1875]

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Can someone PM the list of companies they are/were due cash to assp please?

No if it has anything to do with SmokeBombs

[Craig_in_Prague]

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If they get out of Admin still owning their ground and (virtually) debt free, it will be a massive victory for them. Yes, immoral and abhorrent, but the Yams won't care about that. They were in a terrible state when Vlad took over. Since then, they've had £70M of investment, cup wins, great players, big Euro nights and virtually cleared their £20M of debt for the cost of what .... a 15 point penalty (and possible relegation) ?

If they agree a CVA, they'll still be in a better financial position than when Vlad took over and will quickly find new, willing investors.

I dont think anyone really cares, other than hibs.net
The media has spinned the whole situation all along, to be different and never once have Hearts be shown in bad light.
They still have a small chance of staying up this season, with Killie to play this weekend - they win that & they could start clawing back points.

Years and years of cheaing and a pathetic wee points penalty. It's disgusting and makes me want to cut my ties with Scottish Football completely.

[Pretty Boy]

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If they get out of Admin still owning their ground and (virtually) debt free, it will be a massive victory for them. Yes, immoral and abhorrent, but the Yams won't care about that. They were in a terrible state when Vlad took over. Since then, they've had £70M of investment, cup wins, great players, big Euro nights and virtually cleared their £20M of debt for the cost of what .... a 15 point penalty (and possible relegation) ?

If they agree a CVA, they'll still be in a better financial position than when Vlad took over and will quickly find new, willing investors.

What new, willing investors? No one in their right mind would invest in Scottish football without an ulterior motive. If anyone was wishing to invest in Scottish football there are plenty teams that would bite their hand off for cash.

This news was hardly unexpected, the process of tabling a CVA was always going yo begin sooner rather than later and there is a decent chance it will be accepted. Hearts situation is a million miles from rosy though. A stadium in urgent need of attention, a team of youngsters nowhere near as good as they think, at least 1 season in the 1st division with the reduced revenue that goes with that.

Hearts have been living in a little bubble for years now whilst the rest of us have faced up to the financial realities of Scottish football. They will now learn what it's like to see players walk away for nothing when you can't meet their demands, having to sell players for less than fans think they are worth, missing out on free agents because you can't offer more than League 1 clubs in England etc.

As for their fans, **** them. That thread over on kickback is pitiful. Gloating about ripping of charities and small businesses, not big or clever. I've no sympathy for fans of clubs like Leeds, Portsmouth, Hearts or Rangers. They were happy enough to lord it over everyone when times were good so they can deal with it when times are bad.

[lyonhibs]

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Can't help but think their gloating over the road will come back to haunt them. Justifiably so given their crass lack of remorse for the amount of other innocent people's money they've spent.

It's a level playing field this year and we are already schooling them.

Just like in the last derby??

One thing strikes me, and I am far from an expert in financial matters. A CVA is - correct me if I'm wrong - a proposal on what repayment structure/% of debts would be repaid to creditors. Obviously, FOH have put one together that is credible/meets Ukio Bankas expectations. I suppose that in order for Ukio Bankas to have accepted it, they must have had a look at the numbers behind FOH in terms of pledges and the value thereof and decided that FOH are not a bunch of 2 bit shysters who are all talk. Fair enough.

But FOH don't actually own Hearts in any of its various guises, so for this CVA acceptance to mean much they still have to go through the small step of buying the club before they can start working on paying off its creditors to the tune of <insert risible pence in the pound here>. Is that right? Or is the CVA that Ukio Bankas have accepted actually FOH proposal to buy the club?

Either way, a long way to go but no doubt the "best" news HoMFC have had re: progress to exiting admin for quite some time.

[QMU-1875]

Would hearts be allowed to sign players if this goes through before transfer window? Seem to remember that SFA placed an embargo on them till end of February regardless of whether they were still in admin?

[Thecat23]

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Would hearts be allowed to sign players if this goes through before transfer window? Seem to remember that SFA placed an embargo on them till end of February regardless of whether they were still in admin?

Only under 21's in Jan if out of Admin I think. Then from Feb 1st any out of contract players can sign.

They may think this is all great news but they won't have any real cash to be honest to buy players and will defo go down. Hearts as we knew them are dead. Let them pretend all is great when really they are so ****ed they may never properly recover.

[CropleyWasGod]

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Can someone PM the list of companies they are/were due cash to assp please?

Here you go.Creditors List.pdf

[CropleyWasGod]

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If they get out of Admin still owning their ground and (virtually) debt free, it will be a massive victory for them. Yes, immoral and abhorrent, but the Yams won't care about that. They were in a terrible state when Vlad took over. Since then, they've had £70M of investment, cup wins, great players, big Euro nights and virtually cleared their £20M of debt for the cost of what .... a 15 point penalty (and possible relegation) ?

If they agree a CVA, they'll still be in a better financial position than when Vlad took over and will quickly find new, willing investors.

Not sure I agree.

When Vlad took over, they had an offer for Tynie of £22m. Their debt was £16m. Net assets therefore £6m.

If the CVA happens, their ground is worth (per the offer) around £5m. Their debt is not far short of that. The main stand needs replacing. They have very little working capital.

[Leithenhibby]

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If they get out of Admin still owning their ground and (virtually) debt free, it will be a massive victory for them. Yes, immoral and abhorrent, but the Yams won't care about that. They were in a terrible state when Vlad took over. Since then, they've had £70M of investment, cup wins, great players, big Euro nights and virtually cleared their £20M of debt for the cost of what .... a 15 point penalty (and possible relegation) ?

If they agree a CVA, they'll still be in a better financial position than when Vlad took over and will quickly find new, willing investors.

I hope they do come out of this owning the ground. Did you know that the insurance for the main stand alone is £300,000 pa, and that figure is from a few years back...

In the start, I always wanted them to be in a lower league with a young squad, and little to no experience. Never wanted them to die as I do want to get as much revenge as possible. We will never put that result to bed if they die, and we will, one day/ night, we will do them good and proper.

GGTTH

[truehibernian]

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Only under 21's in Jan if out of Admin I think. Then from Feb 1st any out of contract players can sign.

They may think this is all great news but they won't have any real cash to be honest to buy players and will defo go down. Hearts as we knew them are dead. Let them pretend all is great when really they are so ****ed they may never properly recover.

Alas TC, don't worry.......in February 2014 Sir Rudolph Skacel of Prague is going to come riding into Tynecastle on his trusty white steed 'FiveOne', and lead the maroon malcontents to safety by charging them up the table...........hope they have a huge nosebag for him.......Skacel that is, not the horse

I'm laughing apples at certain Hearts fans thinking their current squad will get a huge lift from this 'news' - in all my years following football I can't remember too many pro footballers reading the Financial Times or the Economist, rather they read the Sun and Nuts - players don't really give two hoots what's happening in board rooms or off the field. They play football and get a pay cheque (sometimes) for doing so. Hearts were always going to survive in one form or another and the players know that (they see The Rangers and Dunfermline still here as proof).

Certainly isn't going to raise skill levels on the field or make Locke a better 'manager'. Their huge battle this season is not admin, it's relegation - which could hurt them big time if they drop and don't come back up first time of asking.

[Thecat23]

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Alas TC, don't worry.......in February 2014 Sir Rudolph Skacel of Prague is going to come riding into Tynecastle on his trusty white steed 'FiveOne', and lead the maroon malcontents to safety by charging them up the table...........hope they have a huge nosebag for him.......Skacel that is, not the horse

I'm laughing apples at certain Hearts fans thinking their current squad will get a huge lift from this 'news' - in all my years following football I can't remember too many pro footballers reading the Financial Times or the Economist, rather they read the Sun and Nuts - players don't really give two hoots what's happening in board rooms or off the field. They play football and get a pay cheque (sometimes) for doing so. Hearts were always going to survive in one form or another and the players know that (they see The Rangers and Dunfermline still here as proof).

Certainly isn't going to raise skill levels on the field or make Locke a better 'manager'. Their huge battle this season is not admin, it's relegation - which could hurt them big time if they drop and don't come back up first time of asking.

Exactly mate. They really are going to toil when they drop. The squad as well that they will have will be rotten. As much as it's good for them that they will survive they are in for a torrid time on the park and that for me is PLEASING!

[greenginger]

http://translate.googleusercontent.c...Ydw0moSBjhu6Eg

Vlad going back to Lith. Land.

[Phil D. Rolls]

When I saw Jackson on the news last night, he didn't look like a man that had got out if jail. In fact, he said the Yams were only 4/10ths of the way to being saved, as there are two more big obstacles to overcome. I'd say his stance on yesterday's news was neutral at best.

The STV reporter pointed out, that even with a CVA, Dunfermline came within minutes of being liquidated last week. I think the Yams have dodged the first bullet, rather than made any progress.

The scenario has to be a good one. I can't think of any club that has entered administration and bounced back to its former status quickly. Rangers, Livingston, Dunfermline, Dundee, Leeds United, Portsmouth etc Of those Rangers (sorry Yams) are the only ones with a fan base that can generate enough income to out buy their opponents.

Unless anyone is mad enough to pump a fortune into Hearts, they will have to settle for developing their own talent, and competing for other clubs players on the same terms as the rest of us.

Yams that lived through the 70s know what's going on. It would be a real find if someone could turn up their "sack the board poster" circa 1980.

[clerriehibs]

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Exactly mate. They really are going to toil when they drop. The squad as well that they will have will be rotten. As much as it's good for them that they will survive they are in for a torrid time on the park and that for me is PLEASING!

If they do come through, regardless of whether it's premier or championship, their STs will sell well because of the 'feel good' factor.

Assuming the new debt isn't too onerous, seems to me they'll be in at least as good a situation for signing new players next season as anyone other than the infirm.

[Andy74]

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Not sure I agree.

When Vlad took over, they had an offer for Tynie of £22m. Their debt was £16m. Net assets therefore £6m.

If the CVA happens, their ground is worth (per the offer) around £5m. Their debt is not far short of that. The main stand needs replacing. They have very little working capital.

I presume the purchase price and initial working capital will all be debt on day one?

[Thecat23]

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If they do come through, regardless of whether it's premier or championship, their STs will sell well because of the 'feel good' factor.

Assuming the new debt isn't too onerous, seems to me they'll be in at least as good a situation for signing new players next season as anyone other than the infirm.

You think? I honestly can't see it mate. I think dropping down will have a huge effect. Plus where is the money coming from each year to maintain the cost of running the club and policing, keeping the stadium fit for folk to sit in? I really do think this will still end bad for Hearts overall and they will be less than average at best. Just my opinion of course. Suppose we'll have to just wait and see.