insaintee Posted June 18, 2013 Report Share Posted June 18, 2013 Partick Thistle ?? I said stronger Quote Link to comment Share on other sites More sharing options...
shull Posted June 18, 2013 Report Share Posted June 18, 2013 If you keep this up there will be no teams left to play, what would you moan about then?That there's nae Teams to play and my Season Ticket wid be worthless. Quote Link to comment Share on other sites More sharing options...
bud77 Posted June 18, 2013 Report Share Posted June 18, 2013 Some may forget that Hearts were ideal for us in the final......Big support....already reached a level of cut backs that IMO made us favourites .....If we played Caley Thistle Hampden would have looked like a ghost town...They must pay a price and come back ....Admin should be enough for them. I don't think it will be as simple as admin should be enough for them. I think the admin process will take some time to be resolved because of the situation with UBIG and Ukio Bankas and who actually owns Tynecastle. It could take months just to get to a stage where the administrators can get through the books and identify all the creditors before they can even start to assess how bad the situation is for Hertz. In the meantime the new season will have started and the SPL will be wondering about Hertz ability to fulfill their fixtures, I understand they can ask for a cash bond in case they don't finish the season but where would that cash come from ? The other option would be to kick them out the league and put them into division 3 in case they go tits up before the end of the season. Quote Link to comment Share on other sites More sharing options...
reborn saint Posted June 18, 2013 Report Share Posted June 18, 2013 I don't think it will be as simple as admin should be enough for them. I think the admin process will take some time to be resolved because of the situation with UBIG and Ukio Bankas and who actually owns Tynecastle. It could take months just to get to a stage where the administrators can get through the books and identify all the creditors before they can even start to assess how bad the situation is for Hertz. In the meantime the new season will have started and the SPL will be wondering about Hertz ability to fulfill their fixtures, I understand they can ask for a cash bond in case they don't finish the season but where would that cash come from ? The other option would be to kick them out the league and put them into division 3 in case they go tits up before the end of the season. You make good points Bud .....I always thought Hearts would avoid Admin and I was wrong. £1millon minimum cost for this process is now guaranteed for a tax bill of £100,000. It's now clear they can't pay the wages and overheads for this month which means a cull of players and other staff. 6500 season tickets have been sold and they can be cancelled tomorrow. My point is Hearts will not be liquidated as there will always be more money in a cva...ie Tynecastle is worth He Haw in real terms. Quote Link to comment Share on other sites More sharing options...
scottd Posted June 18, 2013 Report Share Posted June 18, 2013 (edited) Was looking at the angst and comment on Jambos Kickback, and a webchat hosted by Ian Murray head of FoH the hearts fan group, and blow me if the platitudes, and 'don't worry about a business plan' comments coming from Murray. Along with several "yes, we'll just capitalise that" commments didn't remind me of the car crash that was 10000 hours. This guy Murray (very much like a geezer that lurks these boards) has got the Jambos all believeing there's a whole load of Grants, funding bodies and soft loans just waiting for them! All they have to do is pledge in their thousands and watch a huge unmanagable debt be transformed into THEIR huge unmanagable debt! This should be fun to watch the inevitable crash and burn of FoH only once it's flattered to deceive and raised unrealistic hope and expectation. That would be Ian Murray Labour MP, therefore well practised in the art of snake oil selling. Edited June 18, 2013 by scottd Quote Link to comment Share on other sites More sharing options...
bud77 Posted June 18, 2013 Report Share Posted June 18, 2013 You make good points Bud .....I always thought Hearts would avoid Admin and I was wrong. £1millon minimum cost for this process is now guaranteed for a tax bill of £100,000. It's now clear they can't pay the wages and overheads for this month which means a cull of players and other staff. 6500 season tickets have been sold and they can be cancelled tomorrow. My point is Hearts will not be liquidated as there will always be more money in a cva...ie Tynecastle is worth He Haw in real terms. But either UBIG or Ukio Bankas have part of their debt secured on Tynecastle so Hertz can't even sell the ground to gain cash. Season ticket money has already been spent, there's no games for a few weeks so no ticket sales or hospitality to get funds in. The 2 major shareholders are in liquidation so there could be problems with selling those shares if a credible bid is put forward - liquidation might be the only answer. It could simply be a case of the administrators looking at things and saying the club don't have any money or sufficient income to keep trading. Quote Link to comment Share on other sites More sharing options...
Guest somner9 Posted June 19, 2013 Report Share Posted June 19, 2013 But either UBIG or Ukio Bankas have part of their debt secured on Tynecastle so Hertz can't even sell the ground to gain cash. Season ticket money has already been spent, there's no games for a few weeks so no ticket sales or hospitality to get funds in. The 2 major shareholders are in liquidation so there could be problems with selling those shares if a credible bid is put forward - liquidation might be the only answer. It could simply be a case of the administrators looking at things and saying the club don't have any money or sufficient income to keep trading. And that is it in a nutshell. the estimate to buy from the administrator just Tynecastle is around £5million! Clearly the FoH won't raise anything near that, and as we know to our cost, despite multiple promises to the contrary (10000 hours anyone) Grants, funding, soft loans will not be forthcoming when all you have to offer for income is a string of pledges that can be dropped the minute you get a bad result. The stadium will be sold to a developer for around £5m it is valued at £6.3m in Hertz accounts and Cala homes bid at one time £22m for it. What will be left for FoH is to buy essentially the name/brand from the other creditor for say £2m with no doubt add-on/sell-on clauses and apply for Div 3. That said with the complexity of issues to be addressed, and time till the new season starts I think that would be very ambitious and not worth a 50p bet IMO. The reality is for at least a season Hearts might actually stop! As the defibrillator that is the ordinary fan won't be able to push past the self interested money men crowded round the RTA victim trying to bleed the patient of all cash before letting the only people who want to save it through! Quote Link to comment Share on other sites More sharing options...
lovestreet Posted June 19, 2013 Report Share Posted June 19, 2013 Just been Sky news that a UK based consortium have put in a bid for them, they will be fine. Quote Link to comment Share on other sites More sharing options...
Guest somner9 Posted June 19, 2013 Report Share Posted June 19, 2013 Just been Sky news that a UK based consortium have put in a bid for them, they will be fine. They're in admin and docked 15 points.... so far ya muppet Quote Link to comment Share on other sites More sharing options...
lovestreet Posted June 19, 2013 Report Share Posted June 19, 2013 They'll be fine now Quote Link to comment Share on other sites More sharing options...
Dibbles old paperboy Posted June 20, 2013 Report Share Posted June 20, 2013 They'll be fine now They've sold 7000 season tickets for this season and have literally no money now, that's about £2m for the 2013/14 already spent and they haven't paid wages and have various outstanding tax bills and then a CVA to try and negotiate. Average attendance at Tynecastle last year was about 13k, so you are looking at 50% of the money from ticket sales for next season already spent and facing a winding up order from HMRC on one set of tax bills, with other tax bills for VAT and PAYE due before the season kicks off. If they make it to the start of the season they will get money from the SPL (based on finishing 10th last season), sponsorship money and money from corporate hospitality to add to the 50% of matchday ticket sales left to sell for the season. The administrator hinted that if another 3000 fans buy season tickets in the next fortnight it should mean there is enoough money around during preseason and the first few months of the season to 'honour' the 10k season tickets which would have been bought for 4 months... which means they are looking at cash flow being OK only until November and they are hoping a CVA can be agreed and someone else can come in and buy the club and see them through until the end of the season. It didn't look as though the administrators might not rule out cancelling the 10k season tickets mid-season and asking fans to stump up a second time to watch their team. Quote Link to comment Share on other sites More sharing options...
faraway saint Posted June 20, 2013 Report Share Posted June 20, 2013 They've sold 7000 season tickets for this season and have literally no money now, that's about £2m for the 2013/14 already spent and they haven't paid wages and have various outstanding tax bills and then a CVA to try and negotiate. Average attendance at Tynecastle last year was about 13k, so you are looking at 50% of the money from ticket sales for next season already spent and facing a winding up order from HMRC on one set of tax bills, with other tax bills for VAT and PAYE due before the season kicks off. If they make it to the start of the season they will get money from the SPL (based on finishing 10th last season), sponsorship money and money from corporate hospitality to add to the 50% of matchday ticket sales left to sell for the season. The administrator hinted that if another 3000 fans buy season tickets in the next fortnight it should mean there is enoough money around during preseason and the first few months of the season to 'honour' the 10k season tickets which would have been bought for 4 months... which means they are looking at cash flow being OK only until November and they are hoping a CVA can be agreed and someone else can come in and buy the club and see them through until the end of the season. It didn't look as though the administrators might not rule out cancelling the 10k season tickets mid-season and asking fans to stump up a second time to watch their team. Could you imagine Shull's face if that was us? Quote Link to comment Share on other sites More sharing options...
lovestreet Posted June 20, 2013 Report Share Posted June 20, 2013 So all is well Quote Link to comment Share on other sites More sharing options...
shull Posted June 20, 2013 Report Share Posted June 20, 2013 Could you imagine Shull's face if that was us? Erskine Bridge ! Quote Link to comment Share on other sites More sharing options...
faraway saint Posted June 20, 2013 Report Share Posted June 20, 2013 Erskine Bridge ! Quote Link to comment Share on other sites More sharing options...
Guest somner9 Posted June 20, 2013 Report Share Posted June 20, 2013 They've sold 7000 season tickets for this season and have literally no money now, that's about £2m for the 2013/14 already spent and they haven't paid wages and have various outstanding tax bills and then a CVA to try and negotiate. Average attendance at Tynecastle last year was about 13k, so you are looking at 50% of the money from ticket sales for next season already spent and facing a winding up order from HMRC on one set of tax bills, with other tax bills for VAT and PAYE due before the season kicks off. If they make it to the start of the season they will get money from the SPL (based on finishing 10th last season), sponsorship money and money from corporate hospitality to add to the 50% of matchday ticket sales left to sell for the season. The administrator hinted that if another 3000 fans buy season tickets in the next fortnight it should mean there is enoough money around during preseason and the first few months of the season to 'honour' the 10k season tickets which would have been bought for 4 months... which means they are looking at cash flow being OK only until November and they are hoping a CVA can be agreed and someone else can come in and buy the club and see them through until the end of the season. It didn't look as though the administrators might not rule out cancelling the 10k season tickets mid-season and asking fans to stump up a second time to watch their team. I feel sorry for fans who have paid and are willing to pay again in response to the administrators plea. That said the administrator is only looking at keeping it going until a sale can be agreed, and if it can't all that fan money will be gone. If a sale does go through, does anyone honestly think that the new owners won't be looking for another issue of season ticket sales (bearing in mind they will have stumped up cash for a club where all the gate money has already gone again). It is criminal what HMFC did since last November with plea after plea for more fans cash, I don't see what the administrator is doing as any different because even they have no idea if it will help sell the club as is. It really should be liquidated and then the fans can see what difference their money can make. I can't see it ending with anything other than liquidation given that any new owner will want to sell 15000 ST's all over again to fund the fecking thing to season end! Quote Link to comment Share on other sites More sharing options...
Dibbles old paperboy Posted June 20, 2013 Report Share Posted June 20, 2013 I wonder if Hearts end up liquidated by Christmas if Neil Doncaster will claim the events were unforeseeable? There surely have to be doubts about whether Hearts can honestly fulfil this coming season's fixture list. Quote Link to comment Share on other sites More sharing options...
Kendo Posted June 20, 2013 Report Share Posted June 20, 2013 I wonder if Hearts end up liquidated by Christmas if Neil Doncaster will claim the events were unforeseeable? There surely have to be doubts about whether Hearts can honestly fulfil this coming season's fixture list. I agree, but what options does he have under the current rules? Quote Link to comment Share on other sites More sharing options...
Guest somner9 Posted June 21, 2013 Report Share Posted June 21, 2013 I agree, but what options does he have under the current rules? Let me draw your attention to the SPL rulebook: "Ninth Rule of SPL Rulebook: In the event that a member club suffers an insovency event in close season, that club will be deducted fifteen points. If said club are subsequently liquidated and cannot fulfill their fixtures, and If said club are Hearts who've cheated their way to trophies and champions league appearances the SPL rule book is clear... 'f**k'em'..! Extract from the Shull's Premier League Rule book Quote Link to comment Share on other sites More sharing options...
Kendo Posted June 21, 2013 Report Share Posted June 21, 2013 Let me draw your attention to the SPL rulebook: "Ninth Rule of SPL Rulebook: In the event that a member club suffers an insovency event in close season, that club will be deducted fifteen points. If said club are subsequently liquidated and cannot fulfill their fixtures, and If said club are Hearts who've cheated their way to trophies and champions league appearances the SPL rule book is clear... 'f**k'em'..! Extract from the Shull's Premier League Rule book But if they start the season and later become liquidated then what? Quote Link to comment Share on other sites More sharing options...
shull Posted June 21, 2013 Report Share Posted June 21, 2013 STILL f**kEM ! Quote Link to comment Share on other sites More sharing options...
lovestreet Posted June 21, 2013 Report Share Posted June 21, 2013 (edited) They will not be liquidated they will be bought over soon, this comes from a Hearts fan I know who is in the know just like me. Edited June 21, 2013 by lovestreet Quote Link to comment Share on other sites More sharing options...
Hambud Posted June 21, 2013 Report Share Posted June 21, 2013 They will not be liquidated they will be bought over soon, this comes from a Hearts can I know who is in the know just like me. you're a can in the know, or a just a Hearts can? Quote Link to comment Share on other sites More sharing options...
Guest somner9 Posted June 21, 2013 Report Share Posted June 21, 2013 They will not be liquidated they will be bought over soon, this comes from a Hearts fan I know who is in the know just like me. Quote Link to comment Share on other sites More sharing options...
E=Mc2 Posted June 21, 2013 Report Share Posted June 21, 2013 They will not be liquidated they will be bought over soon, this comes from a Hearts fan I know who is in the know just like me. There is no doubt someone, or more than one, will offer to buy them. I would like to know what they are buying. They are not buying a revenue stream from up to 10,000 season ticket holders whose monies are required to get them past the close season. I assume whoever is in charge of valuing the assets that are the Hearts FC and the stadium will be looking for a good few bob for the stadium. If I was looking to buy my football team and they had an old stadium which required sold off to someone like Tesco so I could get on and give my team a brand new ground with manageable running costs then that is a different story. That kind of thing has happened before. Quote Link to comment Share on other sites More sharing options...
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