Share Transfers Agreed/Cooling off period

[Hibrandenburg]

Everyone is forgetting one important fact. Anne Budge is one of their own so in effect they'll owe their debts to themselves. Can't possibly go wrong!

[lapsedhibee]

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Everyone is forgetting one important fact. Anne Budge is one of their own so in effect they'll owe their debts to themselves.

Lucky barstewards. With that unassailable financial base they'll soon outgrow us, we'll no longer be their rivals and no team in the world will ever beat them 5-0!

[Pretty Boy]

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Lucky barstewards. With that unassailable financial base they'll soon outgrow us, we'll no longer be their rivals and no team in the world will ever beat them 5-0!

European Champions within 5 years with a couple of World Cup stars plying their trade in front of the £51M super stand.

What can possibly go wrong with ambition like that?

[jacomo]

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OK, so assume 7000 x £16 x 12 months less the interest is ~ £1.1M

Pretty good going for the Diddies fundraising?

Aye not bad but they must keep that up for 5 years to repay the Biddies?

5 years in which they must live within their means, 5 years of not being the big team, 5 years of upkeep on the asbestos pit - namely what all other teams have to do - live within their means.

Do we really #believe this will happen?

All I see is a lingering sense of boredom among the idiots, followed in a few years time by some other admin/insolvency event.

Whatever happens - They and their financial behaviors will never be the same again.

I think it's at least possible that the biddies forgive at least some of the interest due / debt. After all we assume they are Jambos and not immune to emotional reasons to lend their support.

However I cannot see a long term future at Tynecastle for them. Budge or whoever might intend to cash out when they sell the site. And therefore with massive council subsidy, how can they afford to build a stadium of similar capacity anywhere in Edinburgh?

[Onion]

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OK, so assume 7000 x £16 x 12 months less the interest is ~ £1.1M

Pretty good going for the Diddies fundraising?

Aye not bad but they must keep that up for 5 years to repay the Biddies?

5 years in which they must live within their means, 5 years of not being the big team, 5 years of upkeep on the asbestos pit - namely what all other teams have to do - live within their means.

Do we really #believe this will happen?

All I see is a lingering sense of boredom among the idiots, followed in a few years time by some other admin/insolvency event.

Whatever happens - They and their financial behaviors will never be the same again.

That's one scenario. But this is a club that has proven itself to be without morals or shame who in desparation accepted an unknown foreign control freak take over everything. They've gone completely bust with £Millions of unpaid debts yet STILL have their home and top league status - along with all success they've enjoyed over the last few years.

What's REALLY changed that suggests they would not be prepared to do that again in a heartbeat? The Yams should be seen as druggies who sold their souls to the devil for short term fix, have OD'd and now trying to get clean. That might work for a while but a few months/years of utter crap and hardship will have them dreaming of glory and good old days.

My problem with this whole sorry affair is there is NOTHING to deter them from doing this all again ? The benefits completely outweigh the cost. There are plenty of Vlad-types around football who might see an ailing capital club, with a amoral fan-base, as a fun toy.

[monktonharp]

you do mean without a council subsidy?

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That's one scenario. But this is a club that has proven itself to be without morals or shame who in desparation accepted an unknown foreign control freak take over everything. They've gone completely bust with £Millions of unpaid debts yet STILL have their home and top league status - along with all success they've enjoyed over the last few years.

What's REALLY changed that suggests they would not be prepared to do that again in a heartbeat? The Yams should be seen as druggies who sold their souls to the devil for short term fix, have OD'd and now trying to get clean. That might work for a while but a few months/years of utter crap and hardship will have them dreaming of glory and good old days.

My problem with this whole sorry affair is there is NOTHING to deter them from doing this all again ? The benefits completely outweigh the cost. There are plenty of Vlad-types around football who might see an ailing capital club, with a amoral fan-base, as a fun toy.

all true.although I know quite a few that follow them and for the most part, they are decent guys, working and paying their way in society. the trouble I've got ,when we all have a few beers in us is that NONE of them regret anything that has happened. all worth it, in their opinion, and this was all said weeks ago well before any mention of a CVA settlement. for that, I hope it goes pear shaped for them

[Ozyhibby]

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OK, so assume 7000 x £16 x 12 months less the interest is ~ £1.1M

Pretty good going for the Diddies fundraising?

Aye not bad but they must keep that up for 5 years to repay the Biddies?

5 years in which they must live within their means, 5 years of not being the big team, 5 years of upkeep on the asbestos pit - namely what all other teams have to do - live within their means.

Do we really #believe this will happen?

All I see is a lingering sense of boredom among the idiots, followed in a few years time by some other admin/insolvency event.

Whatever happens - They and their financial behaviors will never be the same again.

I doubt they are expected to repay it in 5 years.
£5 million is a manageable debt for Hearts. Especially if they have a bit of extra income from the diddies.
The problem for them is the cost of a new stand (£5m?) and the upkeep of the other three poorly built stands. There is also the likelyhood of 1st Div football for at least 1 year and putting out a team they can afford (ie. Mince) for the first time in 30 years. This will have an effect on their income.
The debt itself though is serviceable provided they change their behaviour.


Bugger, just wrote all that and realised I'm agreeing with you.

[Geo_1875]

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all true.although I know quite a few that follow them and for the most part, they are decent guys, working and paying their way in society. the trouble I've got ,when we all have a few beers in us is that NONE of them regret anything that has happened. all worth it, in their opinion, and this was all said weeks ago well before any mention of a CVA settlement. for that, I hope it goes pear shaped for them

They just can't help themselves. Every one of them I know sees the club as an institution that must be saved even at a cost to the public purse. Entitlement junkies every one, even the seemingly normal ones.

[Springbank]

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They just can't help themselves. Every one of them I know sees the club as an institution that must be saved even at a cost to the public purse. Entitlement junkies every one, even the seemingly normal ones.

It may be a long slow burn but that mindset will be their undoing

The spl is better without rangers

Their visiting support is not missed in the stadium or in the surrounding streets

The sport is more competitive and importantly it is finally finally clean and credible

Hearts are just a mini version and that era has passed

Banks will not support that mindset any more and the demise of rangers has been important in allowing financial and sporting institutions to see that there is no significant harm to your bank by shutting down a basket case club of whatever size

[HUTCHYHIBBY]

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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.

I take it you forget to add a smiley at the end of the above?

[jonty]

I keep reading that they need to upgrade their stand 'very soon'. Is there a fixed timescale? Substantial upgrading will be required, no doubt, but never any confirmed dates.

Its always going to be a ****hole and it'll suit the championship/div1 to the ground. The danger is it'll need upgrading before getting back into the SPFL should they ever manage it (although Falkirk managed with 3 stands)

[jdships]

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I keep reading that they need to upgrade their stand 'very soon'. Is there a fixed timescale? Substantial upgrading will be required, no doubt, but never any confirmed dates.

Its always going to be a ****hole and it'll suit the championship/div1 to the ground. The danger is it'll need upgrading before getting back into the SPFL should they ever manage it (although Falkirk managed with 3 stands)

Understand , second hand, that the safety certificate is up for renewal early in 2014
Sure someone will confirm that
Thanks

[EK_Hibs]

Considering the spawny scrounging flumps are almost at 8000 monthly Direct Debits I just don't buy the absolute rubbish that these are going to 'dry up' for whatever reason?? Fair enough if there was only 2 or 3 thousand diddies but not 8 thousand! No chance.

I'd prefer to focus on the 'frozen UBIG shares' and whether or not these can derail the CVA prospects.

[jdships]

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Considering the spawny scrounging flumps are almost at 8000 monthly Direct Debits I just don't buy the absolute rubbish that these are going to 'dry up' for whatever reason?? Fair enough if there was only 2 or 3 thousand diddies but not 8 thousand! No chance.

I'd prefer to focus on the 'frozen UBIG shares' and whether or not these can derail the CVA prospects.

Surely given they will be relegated this season it surely depends greatly on results, continuing agreement with wives/ families to fork out hard earned cash , proof that the new owners can " deliver " on a sustainable basis .
I know of three Jambo's , who are not exactly poor, who have said their DD's will run until December 2014 and then they will reconsider based on " value for money "
Makes sense in the circumstances
Then again nothing is written in tablets of stone re the clubs future

[EK_Hibs]

Don't get me wrong it's certainly possibly that maybe 1 or 2 thousand diddies will cancel after they're repeatedly pumped and relegated this season. But as someone mentioned earlier in the thread they'll have a 'feel good factor' with new owners next season.

[Keith_M]

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....
The problem for them is the cost of a new stand (£5m?) and the upkeep of the other three poorly built stands.

There is also the likelyhood of 1st Div football for at least 1 year and putting out a team they can afford (ie. Mince) for the first time in 30 years. This will have an effect on their income....

If/When Heart decide to replace their crumbling Main Stand, I don't see it costing as little as 5M. IIRC, the Main Stand at ER cost more than that and it was built 13 years ago.

When you add the additional changes to the ground required by UEFA rules (which will kick in when they start building), it's going to be a bill for 10-15M.

Add that to the Loan to buy the club and it's suddenly a long way from debt free, IF they even get the CVA.

[HUTCHYHIBBY]

Have the share certificates been issued yet?

[Dashing Bob S]

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Have the share certificates been issued yet?

For most Jambos, the birth certificates have yet to be issued, so I anticipate the share certificates taking some time.

[SuperAllyMcleod]

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For most Jambos, the birth certificates have yet to be issued, so I anticipate the share certificates taking some time.

This is one of my favourite posts on all 1000+ pages of this thread - made me chuckle out loud.

Thanks

[greenpaper55]

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For most Jambos, the birth certificates have yet to be issued, so I anticipate the share certificates taking some time.

How right you are , superb.

[Sergey]

There's an interesting report in today's Sunday Times entitled "Inside Story" where they focus on the collapse of Bankas Snoras and its owners Vladimir Antonov and Raimondas Baranauskas. Both are currently fighting extradition from the UK back to Lithuania where they face charges of fraud to the tune of €500m.

The interesting part is that the Lithuanian authorities froze Antonov's/Snoras assets when they bankrupted the bank - these assets still remain frozen today, some three years down the line.

The similarities between Snoras and Ukio are uncanny. Both banks owned by a Russian crook - both owned basketball clubs - both owned football clubs that entered administration - both on the run from the Lith authorities.

[bingo70]

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There's an interesting report in today's Sunday Times entitled "Inside Story" where they focus on the collapse of Bankas Snoras and its owners Vladimir Antonov and Raimondas Baranauskas. Both are currently fighting extradition from the UK back to Lithuania where they face charges of fraud to the tune of €500m.

The interesting part is that the Lithuanian authorities froze Antonov's/Snoras assets when they bankrupted the bank - these assets still remain frozen today, some three years down the line.

The similarities between Snoras and Ukio are uncanny. Both banks owned by a Russian crook - both owned basketball clubs - both owned football clubs that entered administration - both on the run from the Lith authorities.

Was he able to sell Portsmouth despite the assets being frozen though?

If so maybe a precedent was set so won't be as complicated when it comes to selling hertz.

[Aldo]

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There's an interesting report in today's Sunday Times entitled "Inside Story" where they focus on the collapse of Bankas Snoras and its owners Vladimir Antonov and Raimondas Baranauskas. Both are currently fighting extradition from the UK back to Lithuania where they face charges of fraud to the tune of €500m. The interesting part is that the Lithuanian authorities froze Antonov's/Snoras assets when they bankrupted the bank - these assets still remain frozen today, some three years down the line. The similarities between Snoras and Ukio are uncanny. Both banks owned by a Russian crook - both owned basketball clubs - both owned football clubs that entered administration - both on the run from the Lith authorities.

Well I hope you've been over to Broke back and posted a link cos the FOH think all is Barry and with the intervention of Fat Salmond and the gang everything will be unfrozen.

Three years... That's brilliant just brilliant. No shares no takeover (if that's right)

[Gmack7]

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There's an interesting report in today's Sunday Times entitled "Inside Story" where they focus on the collapse of Bankas Snoras and its owners Vladimir Antonov and Raimondas Baranauskas. Both are currently fighting extradition from the UK back to Lithuania where they face charges of fraud to the tune of €500m.

The interesting part is that the Lithuanian authorities froze Antonov's/Snoras assets when they bankrupted the bank - these assets still remain frozen today, some three years down the line.

The similarities between Snoras and Ukio are uncanny. Both banks owned by a Russian crook - both owned basketball clubs - both owned football clubs that entered administration - both on the run from the Lith authorities.

do i detect a hint of hope?

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Was he able to sell Portsmouth despite the assets being frozen though?

If so maybe a precedent was set so won't be as complicated when it comes to selling hertz.

booooooo theres always one

[Mr White]

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Was he able to sell Portsmouth despite the assets being frozen though?

If so maybe a precedent was set so won't be as complicated when it comes to selling hertz.

Portsmouth started as a newco effectively did they not? English clubs don't look at that in the same way as we do apparently

[bingo70]

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booooooo theres always one

Sorry, think I'm still miserable after yesterday.

True though, don't give a monkeys how long that boys assetts are frozen for if he's allowed to sell his football club during that time and surely that's the point here?

Fingers crossed Sergey comes back shortly to put my mind at ease.

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Portsmouth started as a newco effectively did they not? English clubs don't look at that in the same way as we do apparently

That's what I was hoping to hear, thanks.

[Aldo]

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Sorry, think I'm still miserable after yesterday. True though, don't give a monkeys how long that boys assetts are frozen for if he's allowed to sell his football club during that time and surely that's the point here? Fingers crossed Sergey comes back shortly to put my mind at ease.

Yip if the club can be sold without the frozen shares then they may have a chance however if they can't then big grins all round.

3 years of admin. ;-)

[Sergey]

I've just had a look at the Portsmouth time-line.

Portsmouth went into administration on 23rd November 2011 and the reformed club owned by the Pompey Supporters Trust exited administration on 19th April 2013. That's nigh-on 18 months in administration.

Trevor Birch really should be making the Fuds aware of these times. "Out of Admin by Christmas" - aye, pull another cracker.

[Jonnyboy]

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For most Jambos, the birth certificates have yet to be issued, so I anticipate the share certificates taking some time.

Indeed and I'd like to see the look on their faces when they find out their sister's their mother

[Aldo]

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Indeed and I'd like to see the look on their faces when they find out their sister's their mother

And in some cases even their father!!