Share Transfers Agreed/Cooling off period

[Glesgahibby]

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As the secured creditor, they are not bound by a positive CVA vote.

However, as a partly unsecured creditor, they have a vote in it. If they vote against it (or, indeed, don't vote at all), there will not be the 75% majority required to carry it.

Sorry CWG,I don't think I worded my question properly.
basicaly what I meant was can (if they wanted) UKIO admins take tyncastle at any point without going through a cva as they have security over tyncastle,or does the process of a cva for unsecured/secured creditors have to take place first.
In a nutshell if there's a cva on the table and they don't like it,they can say nope give us the keys and then vote on whatever is left.
Can they ask for the keys today(game over)

[Geo_1875]

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If they are in the 'Championship' next season it seems most likely that they will be out of administration by then. In which case, they should have some leeway to assemble a halfway competent squad that could bully most teams in that division. The Yams would probably like that - a team of hardened journeymen to hoof their way to runners up spot.

I think that they would probably have to overspend to get out of the Championship. So nothing new there then.

[CropleyWasGod]

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Sorry CWG,I don't think I worded my question properly.
basicaly what I meant was can (if they wanted) UKIO admins take tyncastle at any point without going through a cva as they have security over tyncastle,or does the process of a cva for unsecured/secured creditors have to take place first.
In a nutshell if there's a cva on the table and they don't like it,they can say nope give us the keys and then vote on whatever is left.
Can they ask for the keys today(game over)

I am pretty sure they could do that at any point.

The spin, though, is that they're not going to do that..... yet.

[TrinityHibs]

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I think that they would probably have to overspend to get out of the Championship. So nothing new there then.

Who will give them money. FoH will have the team but the security for the ground would lie with the Budge woman. The Diddies will be paying of the loan to buy the club. They will be using up next years ST cash to get to the end of the season. So walk ups and TV money to invest in the squad. Don't see many world cup stars coming in myself.

[Weststandwanab]

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I am pretty sure they could do that at any point.

The spin, though, is that they're not going to do that..... yet.

CWG they can indeed having given 28 days notice of the intention to do so and I agree with the spin but I think it is coming !

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Who will give them money. FoH will have the team but the security for the ground would lie with the Budge woman. The Diddies will be paying of the loan to buy the club. They will be using up next years ST cash to get to the end of the season. So walk ups and TV money to invest in the squad. Don't see many world cup stars coming in myself.

The $64,000 question indeed.

[Springbank]

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Who will give them money. FoH will have the team but the security for the ground would lie with the Budge woman. The Diddies will be paying of the loan to buy the club. They will be using up next years ST cash to get to the end of the season. So walk ups and TV money to invest in the squad. Don't see many world cup stars coming in myself.

Don't know if you saw Walter smith in the press 2 weeks ago going on about "rangers are different, we *need* to get through the divisions and entertain 45000 people" so he thought spending £18m to win Scotland's 4th tier was justifiable and sensible.

That type of "nothing learned nothing changed" mindset will definitely prevail at hearts, where they are not the brightest buttons in town.

So it's great to see the rangers in there too next season.
Cue mutual destruction as the money (they don't have) gets flung on a bonfire of mediocre journeymen

[Sergey]

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Who will give them money. FoH will have the team but the security for the ground would lie with the Budge woman. The Diddies will be paying of the loan to buy the club. They will be using up next years ST cash to get to the end of the season. So walk ups and TV money to invest in the squad. Don't see many world cup stars coming in myself.

What TV money do you get for playing in Division 1?

[Ozyhibby]

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Who will give them money. FoH will have the team but the security for the ground would lie with the Budge woman. The Diddies will be paying of the loan to buy the club. They will be using up next years ST cash to get to the end of the season. So walk ups and TV money to invest in the squad. Don't see many world cup stars coming in myself.

Very little tv money in championship. About £35,000 per club. Would even get me to play for them for that.

[Weststandwanab]

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What TV money do you get for playing in Division 1?

A minor distribution from the SPFL.

[Treadstone]

Noticed this the other day on the tweet machine. A director of the 'Big Hearts' charity i think (no s******ing at the back). Talking about the Wolfsburg game and who arranged it (against Golden Garys' wishes).

Lawrence Broadie ‏@lawrencebroadie21 Oct
@serialsockthief @mattleslie74 david Southern with full support and encouragement of BDO. There is a big cash flow deficit mar-June

[Keith_M]

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Hibs average at home in the first division was 10,433. A lot less than our average over the last 6 years.

Our average attendance last season was 10,489 (56 more per game). That includes full (or almost full) away ends when Hearts and Celtc visited.

I'd suggest our first division support was actually bigger than it is now.

However, that only happens if you kep winning.



UPDATE: I decided to check your assertion of the average over the last six years. Despite the fact we had 3 Cat A teams in the league for 5 out of 6 years (and two for last year), the average was 11,778, only 1,345 more per game.

[jgl07]

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Very little tv money in championship. About £35,000 per club. Would even get me to play for them for that.

What with Hearts and The Rangers in it?

[JeMeSouviens]

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Very little tv money in championship. About £35,000 per club. Would even get me to play for them for that.

It's gone up a bit following the league merger.

Bottom premier team gets 4.07% of central income (tv + sponsorship), top championship team gets 2.15%.

See http://sport.stv.tv/football/229106-...econstruction/

[Glesgahibby]

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I am pretty sure they could do that at any point.

The spin, though, is that they're not going to do that..... yet.

cheers mate,
the reason I ask is two fold..
1)if they couldn't,then they are just going through the formalitys of the cva process.
2)if they could,the longer UBIGs shares are not available,there's a chance they might pull the plug.
as for spin,they could give Calvin Harris a run for his money

[dangermouse]

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Hibs feature prominently in everything the Yams are doing - from the FoH video (endorsed by Ian Murray MP) to the '£51' a month DD option they highlighted. Personally I think it's pathetic and, to borrow a phrase, oozing with cringe. It's almost creepy.

We don't need to do the same. After all, what happened to Man Utd after they knocked LFC off their f***ing perch? They went on to achieve even more by embedding a culture of winning at the club.

It will nice if Hibs can establish dominance in Edinburgh. But that should be seen as the starting point for us, not the end goal.

I have just read a very interesting piece written by someone who followed Sir Alex during his last year in charge at Old Trafford. It included interviews on how he had made the whole club (not just the team) successful. It stemmed from a revamp of the youth system to not taking any active part in training but just observing. Don't ask me to post a link as it was a hard copy but if his philosophy was introduced at Hibs and allowed to grow we'd scoosh the league every year.

[NeilOrrSquareBa]

If HMFC secure a CVA and wipe their slate clean that will clear the way for significant investment in them from interested parties. FOH would conceed some if not all of their share holding against representative access to the running of their club so they can argue their goal is secured. The question of Tynecastle will be resolved by EDC [sponsored by the Scottish Government] creating a community stadium complex for HMFC and Edinburgh Rugby as tennants. Probably through PFI.
Assuming they go down this season they'll get the 2nd promotional spot from Div 1on offer next season after a play-off.
A CVA will be the best oportunity HMFC have of surviving and becoming a force in Scottish Fotball once again.
Not happy but I see this coming to pass.

[CropleyWasGod]

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If HMFC secure a CVA and wipe their slate clean that will clear the way for significant investment in them from interested parties. FOH would conceed some if not all of their share holding against representative access to the running of their club so they can argue their goal is secured. The question of Tynecastle will be resolved by EDC [sponsored by the Scottish Government] creating a community stadium comples for HMFC and Edinburgh Rugby as tennants. Probably through PFI.
Assumong they go down this season they'll get the 2nd promotional spot from Div 1on offer next season after a play-off.
A CVA will be the best oportunity HMFC have of surviving and becoming a force in Scottish Fotball once again.
Not happy but I see this coming to pass.

Not sure I agree.

For one thing, the slate will not be wiped clean. They will still have a significant debt to the funders, secured against an asset that needs expensive upgrading very quickly.

As for "interested parties", an investment in a football club these days, particularly in Scotland, is not something I would ever advise people to do if they're trying to make money out of it.

[NeilOrrSquareBa]

For one thing, the slate will not be wiped clean. They will still have a significant debt to the funders, secured against an asset that needs expensive upgrading very quickly.

Run that by me again? To whom would they owe a significant sum? I thought the CVA cleared their responsibilitite to the their creditors?

[CropleyWasGod]

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For one thing, the slate will not be wiped clean. They will still have a significant debt to the funders, secured against an asset that needs expensive upgrading very quickly.

Run that by me again? To whom would they owe a significant sum? I thought the CVA cleared their responsibilitite to the their creditors?

The purchase of the shares of the company is being funded by the likes of Ann Budge (under the BIDCO banner). That money has to be repaid, starting next year, from the working capital of the new owners (FANCO).

[Leishy1995]

http://www.heartsfc.co.uk/articles/20121025/hearts-to-launch-share-offer_2241384_2959577

The anniversary of the share issue. Credit @onthisdayhfc

[Jack]

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If HMFC secure a CVA and wipe their slate clean that will clear the way for significant investment in them from interested parties. FOH would conceed some if not all of their share holding against representative access to the running of their club so they can argue their goal is secured. The question of Tynecastle will be resolved by EDC [sponsored by the Scottish Government] creating a community stadium comples for HMFC and Edinburgh Rugby as tennants. Probably through PFI.
Assumong they go down this season they'll get the 2nd promotional spot from Div 1on offer next season after a play-off.
A CVA will be the best oportunity HMFC have of surviving and becoming a force in Scottish Fotball once again.
Not happy but I see this coming to pass.

Jeez peeps I nearly fell off my unicorn when I read that.
The kinda stuff the deluded ones dream about. But.

It's not going to happen.

None of it.

The significant money made me s******. I assume all the interested parties are currently in a darkened room somewhere?

The community stadium had me in stitches. EDC has no money and you think the Scottish Government have money to burn on this sort of thing after paying for the Commonwealth Games?

[greenginger]

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The purchase of the shares of the company is being funded by the likes of Ann Budge (under the BIDCO banner). That money has to be repaid, starting next year, from the working capital of the new owners (FANCO).

Plus football debts of £ 535180.00

[CropleyWasGod]

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Plus football debts of £ 535180.00

Indeed.

But that's the wages of a striker. They won't need one in the Chumpionship.

[NeilOrrSquareBa]

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The purchase of the shares of the company is being funded by the likes of Ann Budge (under the BIDCO banner). That money has to be repaid, starting next year, from the working capital of the new owners (FANCO).

Yes I recognise that debt [just didn't link it to the CVA]which I'm guessing is about £2.5m
Don't see that as an impediment to any interested party or consortium buying control of HMFC from FOH. Agreee Scottish foootbal is not an investment opportunity but I do belive there are enough Hearts minded people who are in a position to make a bid for the club to stabilise and fund them. The CVA paves the way for their interest to increase. FOH is is stop gap until that happens.

[Mikey]

There's a pattern developing here.

The people who know what they're talking about say it aint done yet and there's still a bit to go. The people who don't know what they're talking about have got them debt free, with either the PBS or a council built ground, and buying players the others can't afford.

I know who I'm listening to

[CropleyWasGod]

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There's a pattern developing here.

The people who know what they're talking about say it aint done yet and there's still a bit to go. The people who don't know what they're talking about have got them debt free, with either the PBS or a council built ground, and buying players the others can't afford.

I know who I'm listening to

I hope you're not accusing me of knowing what I'm talking about!

That way lies legal action.....

[Glesgahibby]

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There's a pattern developing here.

The people who know what they're talking about say it aint done yet and there's still a bit to go. The people who don't know what they're talking about have got them debt free, with either the PBS or a council built ground, and buying players the others can't afford.

I know who I'm listening to

Sometimes think I know what I'm talking about and sometimes
One thing for sure,I know the people I'm listening to

[Caversham Green]

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There's a pattern developing here.

The people who know what they're talking about say it aint done yet and there's still a bit to go. The people who don't know what they're talking about have got them debt free, with either the PBS or a council built ground, and buying players the others can't afford.

I know who I'm listening to

Yep, there's been a tendency throughout for some Hibs fans to invent ways that HoMFC could get out of their mess and end up stronger than before or simply predict that they wouldn't go into administration in the first place. The latest developments might mean they'll get out of administration (I'm not yet convinced about that) but the stronger bit just ain't gonna happen.

[jgl07]

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Yep, there's been a tendency throughout for some Hibs fans to invent ways that HoMFC could get out of their mess and end up stronger than before or simply predict that they wouldn't go into administration in the first place.

Plus the usual stuff about the Jambo Council building them a state of the art 25,000 seater stadium.

[O'Rourke3]

It feels as though this entire thread has turned into an Cable TV series. Loads of promise in the first two series, then a lot of padding and ridiculous plot lines until the rating go down and possibly finishing with an improbable end when the sponsorship goes or the audience move over to Glee.....

This is going to play out badly in the end for the Poppy Thieves but it will not be Game of Thrones spectacular death or execution - maybe more of a Theon plot line (for those that have read that far....) and so long as they are hurting and will be under financial pressure for the considerable, that'll do for me. I never wanted them gone but I did want them harmed

Like Mikey, I'll be sticking with those posters who bring some perspective to the thread and look forward to the next cliff hanger....

Meanwhile congratulations to whoever invented the STF rumour about paying the debt to the LH Foundation. That's got everyone wound up good and proper