Bloomsbury Bud Posted June 15, 2013 Report Share Posted June 15, 2013 Over the (approx) 7 years of Romanov, Hearts total debt increased by £1m, the real P&L damage was by Chris Robinson. Romanov made tactical mistakes that has put the future of Hearts into doubt. Those tactical mistakes that are most dangerous from what I can see are the stadium ownership and an annual budget premised on finishing 6th in the SPL. I think its as good as certain that Hearts will be relegated next season (ideally for us with Morton moving in the opposite direction). I don't want to enjoy Hearts' crisis, but when the time comes for SG and his consortium to move on, we need to make sure the new board observe all the prudence that's gone before them, and continue with it. Quote Link to comment Share on other sites More sharing options...
Dirty Sanchez Posted June 15, 2013 Report Share Posted June 15, 2013 I'm still not convinced. Peter Houston, who was interviewed for the manager's job, has since stated that their budget for next season is still one that that will allow them to compete at a decent level. Although, they could have been feeding him a load of shite, of course. Quote Link to comment Share on other sites More sharing options...
lovestreet Posted June 15, 2013 Report Share Posted June 15, 2013 Speaking with a Hearts fan who I know he is laughing up his sleeve stating that the west coast media are being taken for a rude and that there is no way Hearts are in any danger. I don't know what to think TBH Quote Link to comment Share on other sites More sharing options...
nedflanders123 Posted June 15, 2013 Report Share Posted June 15, 2013 Over the (approx) 7 years of Romanov, Hearts total debt increased by £1m, the real P&L damage was by Chris Robinson. Romanov made tactical mistakes that has put the future of Hearts into doubt. Those tactical mistakes that are most dangerous from what I can see are the stadium ownership and an annual budget premised on finishing 6th in the SPL. I think its as good as certain that Hearts will be relegated next season (ideally for us with Morton moving in the opposite direction). I don't want to enjoy Hearts' crisis, but when the time comes for SG and his consortium to move on, we need to make sure the new board observe all the prudence that's gone before them, and continue with it. You don't think that, not that long ago, having a squad of around 60 players on good wages had anything to do with the spiralling debt? Quote Link to comment Share on other sites More sharing options...
Bloomsbury Bud Posted June 15, 2013 Report Share Posted June 15, 2013 You don't think that, not that long ago, having a squad of around 60 players on good wages had anything to do with the spiralling debt? Of course I think that was crazy, clearly, Romanov could have managed the P&L in a better way. Quote Link to comment Share on other sites More sharing options...
Bart Simpson Posted June 15, 2013 Report Share Posted June 15, 2013 I'm still not convinced. Peter Houston, who was interviewed for the manager's job, has since stated that their budget for next season is still one that that will allow them to compete at a decent level. Although, they could have been feeding him a load of shite, of course. Debt excluded, Hearts have a comparatively big weekly turnover, perhaps the second or third largest in the SPL. Therefore seeing as they haven't been keeping up with VAT, PAYE, debt repayments etc... it's easy to see how they could portray this impression. The problem is that the balance has been skewed for too long and these issue are now coming back to bite. It's a sad state of affairs and I do feel sorry for honest fans who dig deep into their pockets for their club. I don't feel sorry for them as an institution though as their continued blatant avoidance of the rules has provided them with an unfair advantage and resulted in their current plight... Interesting comments on Radio Scotland this afternoon about the dynamics of what may happen to them. It is going to be an interesting summer... Quote Link to comment Share on other sites More sharing options...
bud77 Posted June 16, 2013 Report Share Posted June 16, 2013 At the end of last week it was reported that some of the players hadn't been paid, now it's being reported that none of the payers were paid.It's also being rumoured that the club could go into administration in 10 days. (If that is the finance director who has calculated it I'd expect administration tomorrow.) http://www.scotsman.com/sport/football/top-football-stories/hearts-face-administration-within-10-days-1-2968705 Quote Link to comment Share on other sites More sharing options...
lovestreet Posted June 16, 2013 Report Share Posted June 16, 2013 Terrible news Quote Link to comment Share on other sites More sharing options...
Dibbles old paperboy Posted June 16, 2013 Report Share Posted June 16, 2013 Was Hearts debt under Romanov not a lot higher than the £1m mentioned? Didn't they reduce the amount of debt Romanov had run up by swapping it for equity / shares? Any club that has the good fortune to flog a goalie for £9m and still run up increasing levels of debt kind of deserves all they get. They've had 10 managers in 7 years, and at one point had 60 full time players on their books, and also been unsuccessful in trying to dodge tax. The 3rd best supported team in Scotland should be capable of breaking even if it is run on a sound financial footing. Even before Romanov took over PWC said that alongwith Dunfermline, Hibs, Dundee and Livingston, Hearts were technically insolvent in 2003. Out of that grouping of clubs only Hibs got themselves out of trouble by banking the money they raked in from selling guys like Riorden, Brown, Thomson etc. Hearts could have done likewise with the money they made from selling Gordon, Hartley, Webster etc but instead they had a ridiculous sized squad on crazy wages and kept hiring and firing managers every 9 or 10 months or so. Quote Link to comment Share on other sites More sharing options...
Dibbles old paperboy Posted June 16, 2013 Report Share Posted June 16, 2013 http://www.scotsman.com/news/andrew-smith-the-price-to-be-paid-for-hearts-1-2968753 plenty of figures in this article which demonstrate why Hearts deserve little sympathy; eg almost 5 years of wages being paid late, a wage bill that tripled under Romanov and which wasn't reduced much after Setanta went bely up, losses of £5m and £6m in the last few years... Quote Link to comment Share on other sites More sharing options...
shull Posted June 17, 2013 Author Report Share Posted June 17, 2013 Administration now, Liquidation soon. Probably end up in the 3rd Division as a Newco and more importantly to the cheating cnuts .. DEBT FREE ! Quote Link to comment Share on other sites More sharing options...
Murray7 Posted June 17, 2013 Report Share Posted June 17, 2013 Quote Link to comment Share on other sites More sharing options...
insaintee Posted June 17, 2013 Report Share Posted June 17, 2013 Newcunto are not debt free Quote Link to comment Share on other sites More sharing options...
shull Posted June 17, 2013 Author Report Share Posted June 17, 2013 f**k them tae ! Quote Link to comment Share on other sites More sharing options...
Kendo Posted June 17, 2013 Report Share Posted June 17, 2013 If they are out of administration before the season starts they avoid any points deduction Quote Link to comment Share on other sites More sharing options...
foxbar_bud Posted June 17, 2013 Report Share Posted June 17, 2013 If they are out of administration before the season starts they avoid any points deduction No they don't, BBC reported that but its bollocks Quote Link to comment Share on other sites More sharing options...
shull Posted June 18, 2013 Author Report Share Posted June 18, 2013 A ' Hearts are f**ked ' special on Sportsound tonight at ten past 6 on 810 mw. Quote Link to comment Share on other sites More sharing options...
Seaside Nipper Posted June 18, 2013 Report Share Posted June 18, 2013 A ' Hearts are f**ked ' special on Sportsound tonight at ten past 6 on 810 mw. Will Stewart Milne appear mid meltdown and accuse the Jambos of ruining Scottish football................... Quote Link to comment Share on other sites More sharing options...
bluto Posted June 18, 2013 Report Share Posted June 18, 2013 Ach, the SFA just need to reorganise the leagues into a hexagonal shape and all of Scottish fitba's worries will be over. Quote Link to comment Share on other sites More sharing options...
Guest somner9 Posted June 18, 2013 Report Share Posted June 18, 2013 Just a wee tune to cheer up any jaked aff jambos! http://youtu.be/5AQXyPRj0EY Quote Link to comment Share on other sites More sharing options...
scottd Posted June 18, 2013 Report Share Posted June 18, 2013 Just a wee tune to cheer up any jaked aff jambos! http://youtu.be/5AQXyPRj0EY Choon!!! Quote Link to comment Share on other sites More sharing options...
shull Posted June 19, 2013 Author Report Share Posted June 19, 2013 David Weir says it's an absolute tragedy for Scottish Football with whats happened to Hearts. Pure pish David ! Hearts are cheats and if they die, good riddens. They'll be replaced by Morton and for that i'll be delighted. Those with a Jambo connection may find it tragic. f**kEM ! Quote Link to comment Share on other sites More sharing options...
WDR Posted June 19, 2013 Report Share Posted June 19, 2013 Now less than 7 weeks to the start of the season, will Hearts be around to fulfil their first fixture? Will they be around for our only home game against them on Dec 29th? Will they last the season? If they go kaput, after Aug 3, does the league continue with only 11 teams? We might lose income if they don't visit GHR on Dec 29, however if they fold mid-season would their share of the "SPL" wealth get divided up among the remaining 11 clubs? Quote Link to comment Share on other sites More sharing options...
reborn saint Posted June 19, 2013 Report Share Posted June 19, 2013 It's strange to think of why Hearts spent so much money they didn't have. Rangers did it and won titles and played in Europe latter stages. What in real terms did Hearts achieve? Quote Link to comment Share on other sites More sharing options...
RossTheBoss Posted June 19, 2013 Report Share Posted June 19, 2013 It's strange to think of why Hearts spent so much money they didn't have. Rangers did it and won titles and played in Europe latter stages. What in real terms did Hearts achieve?Two Scottish Cups. Think they got to a League Cup Final. Did they win? I don't recall... Quote Link to comment Share on other sites More sharing options...
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