The generic Hearts thread

[FilipinoHibs]

This quote is hidden because you are ignoring this member. Show Quote

Just the four banks made it onto Hearts very own creditors list of shame.

Mind you 2 of them got bumped for £22m.

Hibs did a commercial deal with our bank to actually give them money as the banks were keen to exit football as a risk due to their experiences with the likes of Hearts.

Sent from my SM-A750FN using Tapatalk

We paid the bank back in full. Farmer provided a £9.5 million loan to Hibs which went directly to the bank. This covered the principal of the loan plus the present value of future interest payments. Farmer turned £4.5 million of the loan into shares and the other £5 million into an interest free mortgage. Ron bought the shares and the outstanding mortgage which he turned into new shares.

http://www.hibernianfc.co.uk/news/5060

Bear in mind to, that Romanov wrote off/converted to shares £40 million of debt, not part of Hearts' final £30 million debt. These were loans from Ukio Bankas to UBIG, Romanov's investment vehicle, then on to Hearts. Romanov never paid the loans made to UBIG back to Ukio Bankas. This was part of the €300 million hole in Ukio Bankas's balance sheet that led to its' bankruptcy.

[Bostonhibby]

This quote is hidden because you are ignoring this member. Show Quote

We paid the bank back in full. Farmer provided a £9.5 million loan to Hibs which went directly to the bank. This covered the principal of the loan plus the present value of future interest payments. Farmer turned £4.5 million of the loan into shares and the other £5 million into an interest free mortgage. Ron bought the shares and the outstanding mortgage which he turned into new shares.

http://www.hibernianfc.co.uk/news/5060

Bear in mind to, that Romanov wrote off/converted to shares £40 million of debt, not part of Hearts' final £30 million debt. These were loans from Ukio Bankas to UBIG, Romanov's investment vehicle, then on to Hearts. Romanov never paid the loans made to UBIG back to Ukio Bankas. This was part of the €300 million hole in Ukio Bankas's balance sheet that led to its' bankruptcy.

I believe you are right on both counts

Whatever the actual numbers no one can argue Hibs never paid their way with a deal that was an astute business decision that acceptable to both sides. A million miles removed from the way Hearts built up the major debts here then avoided paying their creditors.

Sent from my SM-A750FN using Tapatalk

[bigwheel]

This quote is hidden because you are ignoring this member. Show Quote

We paid the bank back in full. Farmer provided a £9.5 million loan to Hibs which went directly to the bank. This covered the principal of the loan plus the present value of future interest payments. Farmer turned £4.5 million of the loan into shares and the other £5 million into an interest free mortgage. Ron bought the shares and the outstanding mortgage which he turned into new shares.

http://www.hibernianfc.co.uk/news/5060

Bear in mind to, that Romanov wrote off/converted to shares £40 million of debt, not part of Hearts' final £30 million debt. These were loans from Ukio Bankas to UBIG, Romanov's investment vehicle, then on to Hearts. Romanov never paid the loans made to UBIG back to Ukio Bankas. This was part of the €300 million hole in Ukio Bankas's balance sheet that led to its' bankruptcy.

we did pay in "full"... it was a renegotiated deal that the bank agreed to - which got us better terms and paid up any debt we had....

[Green Badger]

This quote is hidden because you are ignoring this member. Show Quote

I take it the 007 is his IQ

Hearts007 Hearts007
Posted 1 hour ago
1 hour ago, jambopilms said:
Why does it matter it's all paid for, mostly by benefactors who have done coughed up because of Budge. most clubs are crippled for years paying back debt for a new stand/ stadium. We have a stand better than we can't afford for no debt.

Unless your Hibs who ripped off the bank..oops sorry ..meant come to an arrangement..then let the tax payer put millions towards it

Quote

I think an IQ of 7 is being generous.

[greenginger]

Other unpaid “ debts “ of our Gorgie chums.

when Vlad took over Hearts were in hock to B of S for about £ 18 m. He transferred the debt to Ukio with a reduction of about £ 2 m.

Also, there was the £ 5/6 m convertible loan from Scottish Media Group which the lender decided not to convert . They eventually had to accept a fraction of their loan in repayment.

[jacomo]

Absolutely love it when those thickos try and criticise Hibs for supposed financial improprieties. Just reminds us all what two-faced cheats they are.

Some people say ‘Yam’ is not an appropriate nickname. They might be right. Your average root vegetable is a lot smarter.

[bringbackbenny]

Keep digging, another 3 points in the statement league from Queen Ann.

We would like to clarify our position on a comment made by Ann Budge during a broadcast interview that has, by some, been taken out of context.

“You shouldn't be awarded a title if you haven't played 38 games; you shouldn't be relegated if you haven't played 38 games, and all sorts of other things in between. Some rules were changed, others weren't."

Ann was speaking in reference to the SPFL rules, with the broader point being that it is unfair to change some rules and not others, and not expressing an opinion on whether or not clubs such as Dundee Utd, and Celtic if the Premiership is called, will be deserving winners of their titles, which some articles suggest.

The Club's position has always been one of “promotions but no relegations” on the grounds that there should be no losers in this situation if the season cannot be finished.

[Bostonhibby]

This quote is hidden because you are ignoring this member. Show Quote

Absolutely love it when those thickos try and criticise Hibs for supposed financial improprieties. Just reminds us all what two-faced cheats they are.

Some people say ‘Yam’ is not an appropriate nickname. They might be right. Your average root vegetable is a lot smarter.

And a lot more attractive

Sent from my SM-A750FN using Tapatalk

[FilipinoHibs]

This quote is hidden because you are ignoring this member. Show Quote

we did pay in "full"... it was a renegotiated deal that the bank agreed to - which got us better terms and paid up any debt we had....

Prior to bank deal we owed bank £6,2 million and holding company £3 million. Farmer paid off bank debt plus interest with loan to Hibs - £6,5 million. We owed holding company £9.5 (6,5 + 3)million now. Holding company converted £4.5 million of loans into shares. Remaining £5 million turned into a interest free mortgage repaid at £500,000 a year. There was no write off of the bank debt. Farmer took a hit converting £4.5 million of holding company's loan to shares.

[Hibs4185]

This quote is hidden because you are ignoring this member. Show Quote

Prior to bank deal we owed bank £6,2 million and holding company £3 million. Farmer paid off bank debt plus interest with loan to Hibs - £6,5 million. We owed holding company £9.5 (6,5 + 3)million now. Holding company converted £4.5 million of loans into shares. Remaining £5 million turned into a interest free mortgage repaid at £500,000 a year. There was no write off of the bank debt. Farmer took a hit converting £4.5 million of holding company's loan to shares.

I am 99.9% sure the bank debt was £6.2 million which we both agree on. I am sure STF made a deal and paid £4.8 million back, which was then repaid at £40k a month for 10 years.

I think the holding company debt was converted to shares. Def had a deal from the bank but I deal in the commercial world daily and several banks were doing deals to get out of certain sectors. It’s a perfect solution to both parties especially if there is a will on both sides.

[greenginger]

I

This quote is hidden because you are ignoring this member. Show Quote

I am 99.9% sure the bank debt was £6.2 million which we both agree on. I am sure STF made a deal and paid £4.8 million back, which was then repaid at £400k a month for 10 years.

I think the holding company debt was converted to shares. Def had a deal from the bank but I deal in the commercial world daily and several banks were doing deals to get out of certain sectors. It’s a perfect solution to both parties especially if there is a will on both sides.

£ 400 k a month for 10 years !! That’s almost as good as Budges deal with FoH.

[BoomtownHibees]

This quote is hidden because you are ignoring this member. Show Quote

I am 99.9% sure the bank debt was £6.2 million which we both agree on. I am sure STF made a deal and paid £4.8 million back, which was then repaid at £400k a month for 10 years.

I think the holding company debt was converted to shares. Def had a deal from the bank but I deal in the commercial world daily and several banks were doing deals to get out of certain sectors. It’s a perfect solution to both parties especially if there is a will on both sides.

So we paid £48m over the 10 years 😳

[AltheHibby]

This quote is hidden because you are ignoring this member. Show Quote

I think an IQ of 7 is being generous.

Okay. Maybe it's the number of teeth he has.

[Rumble de Thump]

This quote is hidden because you are ignoring this member. Show Quote

Keep digging, another 3 points in the statement league from Queen Ann.

They keep talking about "no losers in this situation, "no punishment", "no penalties" etc. Have they explained why they think Hearts should benefit from this situation?

[Hibs4185]

This quote is hidden because you are ignoring this member. Show Quote

I


£ 400 k a month for 10 years !! That’s almost as good as Budges deal with FoH.

Haha I meant £40k a month. Sitting typing with stupid gloves on 🧤

[Sudds_1]

This quote is hidden because you are ignoring this member. Show Quote

Okay. Maybe it's the number of teeth he has.

Or the age of his sister/ wife

[Sudds_1]

This quote is hidden because you are ignoring this member. Show Quote

She is Scotland's Trump in every way.

Hmm....same hair colour 🤔🤔

[Sudds_1]

This quote is hidden because you are ignoring this member. Show Quote

Put her on the world stage, God for bid, and I think we see her full potential.

God, what an image...seeing her full potential 🤮🤮🤮

[Tully]

Who gives a monkey's about how it was paid back,the long and the short is that the deals been done , the puddle drinkers will never understand no matter what or how it was paid back,they are just all spewing that there so called big club is again up ****creek and trying to find a way to wriggle out of relegation, make no mistake if it was any other club at the bottom they wouldn't give a second thought to league reconstruction, let's Just sit back and see what happens

[whiskyhibby]

Budge is beginning to sound more and more like Romanov after each embarrassing interview ��

[Bostonhibby]

This quote is hidden because you are ignoring this member. Show Quote

Who gives a monkey's about how it was paid back,the long and the short is that the deals been done , the puddle drinkers will never understand no matter what or how it was paid back,they are just all spewing that there so called big club is again up ****creek and trying to find a way to wriggle out of relegation, make no mistake if it was any other club at the bottom they wouldn't give a second thought to league reconstruction, let's Just sit back and see what happens

Yep, they were lost the minute the concept of paying back arose!

Sent from my SM-A750FN using Tapatalk

[jacomo]

This quote is hidden because you are ignoring this member. Show Quote

They keep talking about "no losers in this situation, "no punishment", "no penalties" etc. Have they explained why they think Hearts should benefit from this situation?

Yes, do keep up.

Budge explained that Hearts spent a lot of money this season to try and avoid the drop. The fact that they were 4 points adrift in 12th place when th season was suspended is apparently immaterial... I think the logic is that, as a big and famous club, Hearts should not be ‘punished’ by relegation.

[calumhibee1]

This quote is hidden because you are ignoring this member. Show Quote

Yes, do keep up.

Budge explained that Hearts spent a lot of money this season to try and avoid the drop. The fact that they were 4 points adrift in 12th place when th season was suspended is apparently immaterial... I think the logic is that, as a big and famous club, Hearts should not be ‘punished’ by relegation.

I can’t believe she doesn’t realise how stupid that logic sounds to everybody that isn’t a hearts fan.

“We tried to buy our way out of trouble by spending money we don’t have and still managed to make an absolute arse of it over an 18 month period where we were the worst team in the league. As such, we should be REWARDED for our quite incredible failings.”

[Bostonhibby]

This quote is hidden because you are ignoring this member. Show Quote

They keep talking about "no losers in this situation, "no punishment", "no penalties" etc. Have they explained why they think Hearts should benefit from this situation?

They're right to demand all these things, nothing out of the ordinary should apply, season's ended slightly early through no one's fault so let's just do what has been done for many decades.

You don't even need to set up any wee groups to shoot the breeze about how tough things are for Hearts.

Award the top team the title and relegate the bottom team, they're certainly there on merit this season. Sporting integrity.

Sent from my SM-A750FN using Tapatalk

[ekhibee]

Has anybody seen the Q and A on the BBC Scotland website? The Q and A between Budge and Tom English I meant. I don't know if it really qualifies as a question and answer session, he seems to agree with virtually everything she says. I know this might be controversial but I've got more respect for her than I do for him. She said she'd seen no evidence of bullying. English has turned into a really loathsome creature, he gets free coverage to air his biased views and gets no comeback.

[G B Young]

https://www.bbc.co.uk/sport/football/52338285

If you can be bothered wading through it all, English doesn't half let her off easy here.

She 'genuinely can't remember' which club got a loan despite being one of those who approved it?! You'd assume a journalist would respond that it's hard to take such a claim seriously without corroboration and would ask the SPFL to confirm or deny this. Yet he just accepts it as fact. Imagine Doncaster getting asked such a question and responding with 'Um, I can't actually remember'. He be rightly laughed at - or his senility called into question.

Also, her claim that 'other clubs have likened an internal review to marking their own homework'. 'Other clubs' have not said this, just Steven Gerrard.

And I don't even understand that stuff about the 'Sorry Ann' message...

English is clearly Budge's 'preferred choice' of journo due to his largely sycophantic behaviour towards her. He portrays her as some sort of 'Grande Dame' of Scottish football and just airbrushes over her many mistakes and non-sensical utterances.

Jeez, can you imagine any other club reading through that interview and thinking 'yep, she's convinced me she has a great case for reconstruction'?! There's nothing, nothing at all, within what she says that qualifies as a valid argument for that. She doesn't want Hearts relegated, that's all the bluster amounts to.

[munchar]

Does he ask her if it’s unfair for clubs to go down, is it unfair for clubs not to come up? Would she be as vocal if Hearts weren’t bottom? Would she be lobbying for reconstruction? Does she agree they’re the worst team in the league by a distance? Have you been spending money on contracts you can’t afford? Etc,etc..
No he won’t, but that should be getting asked as a journalist!!

[Rumble de Thump]

This quote is hidden because you are ignoring this member. Show Quote

Has anybody seen the Q and A on the BBC Scotland website? The Q and A between Budge and Tom English I meant. I don't know if it really qualifies as a question and answer session, he seems to agree with virtually everything she says. I know this might be controversial but I've got more respect for her than I do for him. She said she'd seen no evidence of bullying. English has turned into a really loathsome creature, he gets free coverage to air his biased views and gets no comeback.

He's a very poor interviewer.

[greenpaper55]

Just as a wee aside, i wonder if many of the Hearts players have a clause in their contracts which means they are able to leave if the club was relegated. This might benefit Hearts as they will have to live within their means next season Ha ! but they might struggle to put a competitive team on the field, shame.

[CapitalGreen]

This quote is hidden because you are ignoring this member. Show Quote

Has anybody seen the Q and A on the BBC Scotland website? The Q and A between Budge and Tom English I meant. I don't know if it really qualifies as a question and answer session, he seems to agree with virtually everything she says. I know this might be controversial but I've got more respect for her than I do for him. She said she'd seen no evidence of bullying. English has turned into a really loathsome creature, he gets free coverage to air his biased views and gets no comeback.

Tom English seems to get a free pass for any s*** he comes out with because he once called out the old firm for sectarianism.