Share Transfers Agreed/Cooling off period

[Ray_]

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If they can just get hold of the shares I think they might get through this. FOH have the benefit of experienced politicians like Ian Murray and Lord Foulkes who will be able to use their track record managing public funds in the running of the club. The FOH expense sheets will be of particular interest in the coming years not just for these politicians claims, but for more rudimentary individuals such as ex-players.

Wait until they put their expense claims in! That'll need a new round of cake sales & Rudi's bar skills.

[Ronniekirk]

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If they can just get hold of the shares I think they might get through this. FOH have the benefit of experienced politicians like Ian Murray and Lord Foulkes who will be able to use their track record managing public funds in the running of the club. The FOH expense sheets will be of particular interest in the coming years not just for these politicians claims, but for more rudimentary individuals such as ex-players.

There is no guarantee so called experienced Politicians can manage finances any better you only have to look at the over spends on the new parliament and the trams .

[Weststandwanab]

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Not sure if I am reading this right (BBC story) but I see the initial deal for the shares has been done but the stadium has still not even been discussed.

I would love it to be true (Kevin Keegan style). Sure, you can have shares in a club that is worth nothing but we will keep your biggest asset and try and get as much money as possible for it by selling to the highest bidder.

That is not how this game works - see CWG answer.

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If they can just get hold of the shares I think they might get through this. FOH have the benefit of experienced politicians like Ian Murray and Lord Foulkes who will be able to use their track record managing public funds in the running of the club. The FOH expense sheets will be of particular interest in the coming years not just for these politicians claims, but for more rudimentary individuals such as ex-players.

Experienced in what ?

[Glesgahibby]

DR/Scotsman are both stating they broke this story two weeks ago.
The story then was,a verbal agreement had taken place between FOH and UBIGs admins for purchase of shares.DR/Scotsman are now stating agreement has been made to transfer shares after"UBIGs creditors meeting agrees this" and the" Lithuanian court unfreeze(rubber stamps)the shares".
For reassurance in my own sanity,I have shown these story's to friends/family who have no interest in football whatsoever.There conclusion "EXACT SAME STORY"as two weeks ago.
No written agreement,no date for meeting,no court date and still in administration !

[CropleyWasGod]

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There is no guarantee so called experienced Politicians can manage finances any better you only have to look at the over spends on the new parliament and the trams .

Whoosh

[CropleyWasGod]

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They think they're saved but the best analogy I can think of is walking into a car showroom and striking a deal with the cleaner. The cleaner has no authority to sell the car.

Better analogy is the one I used earlier.

You and I agree that you are buying my house. There is an inhibition on the sale of the house. There can therefore be no sale.

[EuanH78]

Banderson tweeting hmfc money will run out end of march but foh are able to provide funding shortfall.

Thoughts, resident experts?

[Craig_in_Prague]

Hibs will win the Scottish Cup.

Subject to scoring more goals in the final than their opponents, but Terry Butcher has a verbal agreement with his squad & that it was they'd like to happen.

[CropleyWasGod]

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Banderson tweeting hmfc money will run out end of march but foh are able to provide funding shortfall.

Thoughts, resident experts?

According to the FOH constitution, which someone posted on here, I'm not sure that's in their powers.

That said, if it's the difference between keeping the club going and the L word, I would expect enough members to vote to change the consitution.

[Platinum Scotty]

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According to the FOH constitution, which someone posted on here, I'm not sure that's in their powers.

That said, if it's the difference between keeping the club going and the L word, I would expect enough members to vote to change the consitution.

Thanks CWG - must confess its always a bit confusing for me with this lot but for once what I thought is what you've confirmed......would be interesting to see how quickly they can change their constitution tho.............

[GlasgowHibee]

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Banderson tweeting hmfc money will run out end of march but foh are able to provide funding shortfall.

Thoughts, resident experts?

They won't run out of money, FOH must have well over a million in the bank now and Jackson and co' can release the begging bowls for the spuds to empty their monthly social into "their" club.

[StevieC]

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Banderson tweeting hmfc money will run out end of march but foh are able to provide funding shortfall.
Thoughts, resident experts?

I'm no expert, resident or otherwise, but I said a week ago that I expect the DD money to be used to get Hearts to the end of the season. I know it goes against the original purpose for the DD money, and that they could also find that it gets used and they still get liquidated, but if it gives them a glimmer of hope then they'll just do it. At least this time they will have an opportunity to ask those donating, as opposed to the "fake" share issue.

[Craig_in_Prague]

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I'm no expert, resident or otherwise, but I said a week ago that I expect the DD money to be used to get Hearts to the end of the season. I know it goes against the original purpose for the DD money, and that they could also find that it gets used and they still get liquidated, but if it gives them a glimmer of hope then they'll just do it. At least this time they will have an opportunity to ask those donating, as opposed to the "fake" share issue.

I think it's all on timescales.
I'm an MP Ian Murray was on Radio Scotland earlier and if it's a case of ticking things over for a number of weeks, he is sure that will happen. But, if it's more likely to be months.... different story.

Really hope the meetings in Lithuania keep getting pushed out.

'mon the slippage

[StevieC]

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They won't run out of money, FOH must have well over a million in the bank now and Jackson and co' can release the begging bowls for the spuds to empty their monthly social into "their" club.

As much as that? Aren't the figures something like 6,800 donating an average of £16?
I was thinking that it would be less than half that amount just now and (assuming no cancellations) it wouldn't be anywhere near that amount by the time it's needed to be used.

[greenginger]

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I'm no expert, resident or otherwise, but I said a week ago that I expect the DD money to be used to get Hearts to the end of the season. I know it goes against the original purpose for the DD money, and that they could also find that it gets used and they still get liquidated, but if it gives them a glimmer of hope then they'll just do it. At least this time they will have an opportunity to ask those donating, as opposed to the "fake" share issue.

I would have thought it would be a lot simpler just to start selling next seasons tickets.

Changing F0H constitution to allow the D/D cash to support an entity they don't own might be all.very.complex and who knows may require 100% approval of the fannies and Hibs.net may have a vote

[ahibby]

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DR/Scotsman are both stating they broke this story two weeks ago.
The story then was,a verbal agreement had taken place between FOH and UBIGs admins for purchase of shares.DR/Scotsman are now stating agreement has been made to transfer shares after"UBIGs creditors meeting agrees this" and the" Lithuanian court unfreeze(rubber stamps)the shares".
For reassurance in my own sanity,I have shown these story's to friends/family who have no interest in football whatsoever.There conclusion "EXACT SAME STORY"as two weeks ago.
No written agreement,no date for meeting,no court date and still in administration !

The Monday story was obviously a re-hash to try and lift their spirits (Hearts fans) after being humiliated by ICT. I'm surprised at the Media (especially BBC) for letting Hearts manipulate them in such a way that makes them look pathetic.

[GlasgowHibee]

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As much as that? Aren't the figures something like 6,800 donating an average of £16?
I was thinking that it would be less than half that amount just now and (assuming no cancellations) it wouldn't be anywhere near that amount by the time it's needed to be used.

Thought it was a bit more than that myself, "Pleasing"

[7062]

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According to the FOH constitution, which someone posted on here, I'm not sure that's in their powers.

That said, if it's the difference between keeping the club going and the L word, I would expect enough members to vote to change the consitution.

Do you think the folk that are supposed to be due the money from the dd's are members? It would probably only be them that might not be happy.

[StevieC]

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I think it's all on timescales.
I'm an MP Ian Murray was on Radio Scotland earlier and if it's a case of ticking things over for a number of weeks, he is sure that will happen. But, if it's more likely to be months.... different story.

Is there a figure for the monthly expenditure at Hearts?

I reckon that FoH could have around £800k to play with up until the start of next season. They would need to fund the club for 4 months once the BDO money runs out. Once next season starts they could effectively remain in administration for another season and survive on their season ticket, DD and matchday income.

I'm starting to think that they may actually avoid the big L, but they are really going to struggle (in the Championship) for the next two or three years.

[Glesgahibby]

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The Monday story was obviously a re-hash to try and lift their spirits (Hearts fans) after being humiliated by ICT. I'm surprised at the Media (especially BBC) for letting Hearts manipulate them in such a way that makes them look pathetic.

Yip
i forgot to mention the BBC.
The best bit is,the yams buy this propaganda.
i notice this time there is no statement from the UBIG spokesperson/cleaner/doorman ?

[greenginger]

http://www.portsmouth.co.uk/sport/po...ited-1-5820027

Antonov sent back to face the music ( he will doubtless appeal )

All his assets frozen by Lithuanian Court including Convers Sports Initiatives plc which owned 100% of Portsmouth F C shares.

Shares still frozen, Portsmouth F C is now a Newco.

[Platinum Scotty]

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Is there a figure for the monthly expenditure at Hearts?

I reckon that FoH could have around £800k to play with up until the start of next season. They would need to fund the club for 4 months once the BDO money runs out. Once next season starts they could effectively remain in administration for another season and survive on their season ticket, DD and matchday income.

I'm starting to think that they may actually avoid the big L, but they are really going to struggle (in the Championship) for the next two or three years.

StevieC - would be good to see that monthly expenditure figure, if they havent got money to operate with from next month then the war chest to pay for next year and its football debt will not last long thats for sure.....would love for the outgoings to be higher than the projected incomings, which even if you look on Keekback that are "guessing and hoping" that its @ £121k a month, but thats probably optimistic!!!

I'm still hoping for the big L tho!

[Ross4356]

I am right in think we get our money from tickets sales, tv, sponsors and merchandise? If they are the same what will they need the FOH DD money for?

[CropleyWasGod]

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I am right in think we get our money from tickets sales, tv, sponsors and merchandise? If they are the same what will they need the FOH DD money for?

To repay the people who put up the money for the purchase of the club.

[GreenLake]

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Experienced in what ?

http://www.mirror.co.uk/news/uk-news...3#.UvDGOXnF8pE
http://www.scotsman.com/news/lord-fo...-row-1-1302626

[Hermit Crab]

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http://www.mirror.co.uk/news/uk-news...3#.UvDGOXnF8pE
http://www.scotsman.com/news/lord-fo...-row-1-1302626

So pishy breeks has been caught out in the expenses scandal. Robbing *******

[Ozyhibby]

Hearts and Hibs both have turnovers around £7m per annum. If you are working to a balanced budget then both clubs spend about £583k per month.
This year, hearts will be spending less than that as they have cut costs back to the bone.

[Ross4356]

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To repay the people who put up the money for the purchase of the club.

Cheers, what about after this is done?

[CropleyWasGod]

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Cheers, what about after this is done?

If there are still any D/D's still being paid, it will be used for running costs.

[QMU-1875]

What will hurt them more is if we start winning games. The hurt and seethe over their if we won the Scottish this season would eclipse their liquidation. They are truly obsessed with the famous Hibernian FC.