Share Transfers Agreed/Cooling off period

[Nando™]

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Could it be feasible for them to trundle along in administration for months/years to come?
They'd obviously need additional funding (season tickets/FOH?) but I'm sure Portsmouth were in administration for quite a while under similar circumstances.

To be honest, if they don't reach an agreement with the Liths sometime soon then they'd probably be better (assuming they can still buy the stadium from UKIO) going down the liquidation route?
Rangers have shown that you can liquidate and still be the same team (?) so they may be as well liquidating sooner rather than later.

Rangers FC died. The club playing in red, white and blue at Ibrox are named 'The Rangers'.

[The_Todd]

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Could it be feasible for them to trundle along in administration for months/years to come?
They'd obviously need additional funding (season tickets/FOH?) but I'm sure Portsmouth were in administration for quite a while under similar circumstances.

To be honest, if they don't reach an agreement with the Liths sometime soon then they'd probably be better (assuming they can still buy the stadium from UKIO) going down the liquidation route?
Rangers have shown that you can liquidate and still be the same team (?) so they may be as well liquidating sooner rather than later.

I can't see it (long term admin) being feasible.

1- they'd begin every season on -15 points
2- they'd be under a player registration embargo every season
3- the two points above combined would see them consigned to the lower leagues or worse in perpetuity, with much reduced income keeping the likes of Tynecastle running would be impossible

[CropleyWasGod]

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Rangers FC died. The club playing in red, white and blue at Ibrox are named 'The Rangers'.

... and we're off.

[GreenLake]

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The PBS is a HUGE money drain though .. and will need substantial investment to bring it up to standard.
The risk, if they lose it, is that EDC get involved in some sort of community stadium project (I know they are skint but it would still be a worry).

EDC and Hearts will have the EC all over them like a bad rash if any public money is illegally used to assists Hearts in an anti-competitive way.

[Nando™]

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... and we're off.

They must never forget.

[Paperboy]

A Jambo 'mate' of mine just text me to say it's being announced their getting this CVA and their out of administration.

he beieves that there's about 7,000 fans who've pledged money on a monthly basis. Some business woman is going to bankroll Hearts and they money from the 7,000 will be used to pay her back.

how much would it cost to run a football such as Hearts? How much is said to be pledged by this group? If the people pledge an amount and decide they don't want to pay it (ie if Hearts are struggling in the Championship) then do they get chased for the money?!

As you can see all going over my head!

[SaulGoodman]

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A Jambo 'mate' of mine just text me to say it's being announced their getting this CVA and their out of administration.

he beieves that there's about 7,000 fans who've pledged money on a monthly basis. Some business woman is going to bankroll Hearts and they money from the 7,000 will be used to pay her back.

how much would it cost to run a football such as Hearts? How much is said to be pledged by this group? If the people pledge an amount and decide they don't want to pay it (ie if Hearts are struggling in the Championship) then do they get chased for the money?!

As you can see all going over my head!

It's good that your Jambo mate got all this important info before journalists.

[Gus Fring]

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A Jambo 'mate' of mine just text me to say it's being announced their getting this CVA and their out of administration.

They approved the CVA in November. Nothing has changed since

he beieves that there's about 7,000 fans who've pledged money on a monthly basis. Some business woman is going to bankroll Hearts and they money from the 7,000 will be used to pay her back.

Again, this is old news. Her name is Anne Budge and the FOH claim to have approx 7600 direct debits.

how much would it cost to run a football such as Hearts? How much is said to be pledged by this group? If the people pledge an amount and decide they don't want to pay it (ie if Hearts are struggling in the Championship) then do they get chased for the money?!

The Direct Debits can be cancelled at any time. There is no minimum commitment

[jacomo]

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They approved the CVA in November. Nothing has changed since



Again, this is old news. Her name is Anne Budge and the FOH claim to have approx 7600 direct debits.



The Direct Debits can be cancelled at any time. There is no minimum commitment

It's the business plan of dreams. All it needs to make it perfect is the return of misunderstood managerial genius Craig (why don't I get offered the really big jobs?) Levein, who will thankfully be parachuted in by Anne Budge, under threat of withdrawing her loan.

[HUTCHYHIBBY]

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A Jambo 'mate' of mine just text me to say it's being announced their getting this CVA and their out of administration.

he beieves that there's about 7,000 fans who've pledged money on a monthly basis. Some business woman is going to bankroll Hearts and they money from the 7,000 will be used to pay her back.

how much would it cost to run a football such as Hearts? How much is said to be pledged by this group? If the people pledge an amount and decide they don't want to pay it (ie if Hearts are struggling in the Championship) then do they get chased for the money?!

As you can see all going over my head!

Was your mate able to explain how they are going to get hold of the frozen shares, I'm intrigued!

[BH Hibs]

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A Jambo 'mate' of mine just text me to say it's being announced their getting this CVA and their out of administration.

he beieves that there's about 7,000 fans who've pledged money on a monthly basis. Some business woman is going to bankroll Hearts and they money from the 7,000 will be used to pay her back.

how much would it cost to run a football such as Hearts? How much is said to be pledged by this group? If the people pledge an amount and decide they don't want to pay it (ie if Hearts are struggling in the Championship) then do they get chased for the money?!

As you can see all going over my head!

News travels fast down Gorgie way possibly the slowest paperboy ever.

[Niffy]

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A Jambo 'mate' of mine just text me to say it's being announced their getting this CVA and their out of administration.

he beieves that there's about 7,000 fans who've pledged money on a monthly basis. Some business woman is going to bankroll Hearts and they money from the 7,000 will be used to pay her back.

how much would it cost to run a football such as Hearts? How much is said to be pledged by this group? If the people pledge an amount and decide they don't want to pay it (ie if Hearts are struggling in the Championship) then do they get chased for the money?!

As you can see all going over my head!

Doesn't make sense... she pays them out of bother... the 7000 pay her back.... the Club then has no money to go on with...

Do they not think these radge things out in their heads first ?

[The_Todd]

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A Jambo 'mate' of mine just text me to say it's being announced their getting this CVA and their out of administration.

he beieves that there's about 7,000 fans who've pledged money on a monthly basis. Some business woman is going to bankroll Hearts and they money from the 7,000 will be used to pay her back.

how much would it cost to run a football such as Hearts? How much is said to be pledged by this group? If the people pledge an amount and decide they don't want to pay it (ie if Hearts are struggling in the Championship) then do they get chased for the money?!

As you can see all going over my head!

Is your mate stuck in November 2013?

[Gus Fring]

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Doesn't make sense... she pays them out of bother... the 7000 pay her back.... the Club then has no money to go on with...

Do they not think these radge things out in their heads first ?

The way they think it'll work is thusly:

The loan will be used to buy the club.
The direct debits will be used to fill the funding gap between now and the end of this season (if they take over before then).
The FOH will then launch season ticket sales and run the club on their usual footballing income. In a 'self-sufficient' manner.
The direct debits will then be used to pay back the people (it's not just budgie) who have loaned FOH money.

The fact the FOH started collecting money 4 months ago and expected to have control before the end of the season shows how long this has already dragged on.

[jacomo]

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It's good that your Jambo mate got all this important info before journalists.

Bet Banderson is throwing a hissy fit at the Scotsman office right now.

'Banderson, it's garbage. Your story contains nothing new and is pure wish-fulfilment. Even we can't publish it, and God knows we've printed some absolute rubbish from you in the past.'

'No it's no! I'm well clued up! Hertz are coming out of admin at 5:01pm today (or maybe 1:05pm tomorrow, cannae remember) and Levein and Hartley and Locke and Billy and JJ and Neilson - but not McKay - are the new managerial dream team, and they will get a seven figure sum as a war chest to rebuild in the summer. And Rudi and every other player that was good is signing on ahead of the semi final.'

[c31]

Then 'good news' has made it to Craiglockhart-

Just overheard that they will be getting the shares on Wednesday, this is from the more educated jambo at my work who likes to think he is 'in the know', he said a journalist friend of his has told him this and he is convinced that it's true.

He's not been so excited in years.....

[WeeWendy]

Couple of things:

it would be funny if they ran out of money and had to be liquidated, whilst FOH have hundreds of thousands in the bank that they can't use

if (big IF) it all goes through, the CVA etc then FOH will have a nice little nest egg for when they take over - or will they have allowed for that in the business plan


Just re-read that and it looks like I think it might happen - I believe Bajillions and Sergey, ain't gonna happen anytime soon!

[CropleyWasGod]

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Couple of things:

it would be funny if they ran out of money and had to be liquidated, whilst FOH have hundreds of thousands in the bank that they can't use

if (big IF) it all goes through, the CVA etc then FOH will have a nice little nest egg for when they take over - or will they have allowed for that in the business plan

1. if that happens, the money is to be repaid, minus a "processing fee"

2. the "nest egg" is supposed to pay for the CVA, in time.

[Jack]

Was the Budge/Levein love in reported anywhere?

[BH Hibs]

Just thinking aloud but could they be keeping St sales for the week after the semi. As in buy a st get a ticket for the final guaranteed and the usual help save the club stuff or even bring this out the week leading up to the final meaning that the semi could really be **** or bust for them? Or does it really matter in the grand scheme of things?

[WeeWendy]

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1. if that happens, the money is to be repaid, minus a "processing fee"

2. the "nest egg" is supposed to pay for the CVA, in time.

I got that the dd's are to pay the diddies back, just thought the timeline might have been worked out from the point of takeover. The longer it takes in any case, the less time the diddies will be out of pocket?

I don't know why I'm bothering trying to understand it all, it ain't gonna happen!

[HUTCHYHIBBY]

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He's not been so excited in years.....

Premature to say the least, its not going to change anytime soon.

[Sergey]

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Was the Budge/Levein love in reported anywhere?

Kickback...

...I rest my case!

[Gus Fring]

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Just thinking aloud but could they be keeping St sales for the week after the semi. As in buy a st get a ticket for the final guaranteed and the usual help save the club stuff or even bring this out the week leading up to the final meaning that the semi could really be **** or bust for them? Or does it really matter in the grand scheme of things?

They didn't sell out for the league cup final last year so it's unlikely they will this year. Can't see even the daftest of Hearts fans buying a season ticket to secure a final ticket. They have a silly wee loyalty points system over there anyway

[jgl07]

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1. if that happens, the money is to be repaid, minus a "processing fee"

Are you fed up with the low interest rates currently being offered by the Banks and Building Societies?

If so put your money in the new FOH Bank. You'll get bugger all interest and if successful you will never see your money again.

If it fails you are guaranteed to get all your cash back. Less of course the amount that stuck to the sides of the FOH account and to the fingers of those operating it.

You know it makes sense!

[hibees 7062]

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A Jambo 'mate' of mine just text me to say it's being announced their getting this CVA and their out of administration.

he beieves that there's about 7,000 fans who've pledged money on a monthly basis. Some business woman is going to bankroll Hearts and they money from the 7,000 will be used to pay her back.

how much would it cost to run a football such as Hearts? How much is said to be pledged by this group? If the people pledge an amount and decide they don't want to pay it (ie if Hearts are struggling in the Championship) then do they get chased for the money?!

As you can see all going over my head!

Theyve lost 600 in 2 days

[CropleyWasGod]

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Are you fed up with the low interest rates currently being offered by the Banks and Building Societies?

If so put your money in the new FOH Bank. You'll get bugger all interest and if successful you will never see your money again.

If it fails you are guaranteed to get all your cash back. Less of course the amount that stuck to the sides of the FOH account and to the fingers of those operating it.

You know it makes sense!

You will also get a nice fuzzy warm feeling knowing that you have done your bit.


..... or that may be the fact that you've peed yourself when you realise what else you could have done with the money.

[DarlingtonHibee]

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You will also get a nice fuzzy warm feeling knowing that you have done your bit.


..... or that may be the fact that you've peed yourself when you realise what else you could have done with the money.

CWG - sorry may have missed this, but the Scotsman article states all £2.5m will go to UKIO - I thought Amdministrator's had first call

on the cash

[The_Todd]

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Then 'good news' has made it to Craiglockhart-

Just overheard that they will be getting the shares on Wednesday, this is from the more educated jambo at my work who likes to think he is 'in the know', he said a journalist friend of his has told him this and he is convinced that it's true.

He's not been so excited in years.....

I work in Craiglockhart and I've heard no such thing. But then the only Jambo in Craiglockhart I know is off sick.

[Gus Fring]

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CWG - sorry may have missed this, but the Scotsman article states all £2.5m will go to UKIO - I thought Amdministrator's had first call

on the cash

All fees due to BDO after the date of the CVA have and will be taken out of the ongoing running costs of HMFC. The feeds payable from the CVA money are capped.