Cagey Posted June 14, 2013 Report Share Posted June 14, 2013 Not paid their wages & have now got a transfer ban. They can`t afford to sign anyone anyway. Quote Link to comment Share on other sites More sharing options...
HOODLUM65 Posted June 14, 2013 Report Share Posted June 14, 2013 ,............ Probably getting good cut and another one from his next club. ==========~ Sorry Cagey, but a good cut of what, xxxx all. They're pink lint and as still on the books of Liverpool, we will still be getting paid by them. His " signing on" fee and monthly salary would not yet have commenced. If Hearts cannot pay staff already contracted, through the "close season", I fail to see where this " cut" is gonna come from. Quote Link to comment Share on other sites More sharing options...
Cagey Posted June 14, 2013 Report Share Posted June 14, 2013 ==========~Sorry Cagey, but a good cut of what, xxxx all.They're pink lint and as still on the books of Liverpool, we will still be getting paid by them.His " signing on" fee and monthly salary would not yet have commenced.If Hearts cannot pay staff already contracted, through the "close season", I fail to see where this " cut" is gonna come from.============May have got a signing on fee & agents cut . The season ticket money had to go somewhere. Quote Link to comment Share on other sites More sharing options...
HOODLUM65 Posted June 14, 2013 Report Share Posted June 14, 2013 Aye you could be right about the season ticket money.There seems to be precedents here. Quote Link to comment Share on other sites More sharing options...
Carron Posted June 15, 2013 Report Share Posted June 15, 2013 http://www.telegraph.co.uk/sport/football/teams/hearts/10119115/Hearts-put-entire-squad-up-for-sale.html "Season-ticket sales are 20 per cent down on Hearts' most conservative estimates and the majority of money that has come in from fans renewing their briefs has already been spent." Quote Link to comment Share on other sites More sharing options...
Cagey Posted June 15, 2013 Report Share Posted June 15, 2013 http://www.telegraph.co.uk/sport/football/teams/hearts/10119115/Hearts-put-entire-squad-up-for-sale.html "Season-ticket sales are 20 per cent down on Hearts' most conservative estimates and the majority of money that has come in from fans renewing their briefs has already been spent." Not a Hearts fans so shouldn't give a toss but what has it been spent on. Quote Link to comment Share on other sites More sharing options...
slf Posted June 15, 2013 Report Share Posted June 15, 2013 http://www.telegraph.co.uk/sport/football/teams/hearts/10119115/Hearts-put-entire-squad-up-for-sale.html "Season-ticket sales are 20 per cent down on Hearts' most conservative estimates and the majority of money that has come in from fans renewing their briefs has already been spent." ================================================================================================================== doon a great big maroon plug hole. Dr Christmas Jones 1 Quote Link to comment Share on other sites More sharing options...
john1962 Posted June 16, 2013 Report Share Posted June 16, 2013 I have no sympathy for Hearts fans. They were desperate to get rid of Chris Robinson and have cosied up with mad Vlad while he went on all of his rants and spent the budget of a small country. They have been happy to rip it right out of supporters of smaller clubs along the way. Won cups playing players they knew they could not afford. Quote Link to comment Share on other sites More sharing options...
Dr Christmas Jones Posted June 16, 2013 Report Share Posted June 16, 2013 I have no sympathy for Hearts fans. They were desperate to get rid of Chris Robinson and have cosied up with mad Vlad while he went on all of his rants and spent the budget of a small country. They have been happy to rip it right out of supporters of smaller clubs along the way. Won cups playing players they knew they could not afford. This all sounds very familiar Quote Link to comment Share on other sites More sharing options...
john1962 Posted June 16, 2013 Report Share Posted June 16, 2013 This all sounds very familiar I was thinking that as I wrote it. The only thing missing seems to be the dodgy second contract. HOODLUM65 1 Quote Link to comment Share on other sites More sharing options...
mainstand Posted June 16, 2013 Report Share Posted June 16, 2013 Yhe sad thing is that this will cost you and I. Most Hearts fans that I know have used credit cards to buy their season tickets, At the end of the day if tehy go into administration there will be claims in to the banks and that will be a cost to the rest of us. Quote Link to comment Share on other sites More sharing options...
Nelly78 Posted June 17, 2013 Report Share Posted June 17, 2013 (edited) This is where I don't understand how it works. They owe HMRC bits and bobs, but if they go into administration and seek a CVA, their primary creditors will be the bank and the other dudes in Lithuania, who they owe 15m and 10m to, Surely there would be an absolute requirement to sell the assets to repay the maximum amount. In the Rangers case it was the club in administration, but in this case the assets must be owned by the Lithuanians, and as a football stadium it's worth x, but as a bit of real estate land it is worth many times more. Ibrox was listed and Murray Park constrained from redevelopment, and both were in a shite hole. Tynecastle is a housing developer's dream. In my view Hearts have to stay afloat as a company or the whole lot will be liquidated and they will have no place to start again from. It's a pretty dreadful state of affairs. I do feel extremely sorry for the fans who have parted with cash to try to keep them going, but the complete separation of the money and ownership from the football on the park seems to me to make the future of Tynecastle and other assets completely a business decision, and nothing to do with football. ================================================================= Murray Park is in a decent area, just on the outskirts of Milngavie, however pretty sure there is a presumption against development of the site, plus part of it is situated in a flood plain so, even if this situation was to change, it would cost a fortune to develop anyway. 6 or 7 years ago Tynecastle would have been a developer's wet dream. Nowadays, no chance. Secondary location, suitable mainly for flats, pretty much everything a developer isn't looking for just now. The Lithuanians do however own several other, far more saleable assets in Edinburgh. Edited June 17, 2013 by Nelly78 Quote Link to comment Share on other sites More sharing options...
ex-montrosesaintee Posted June 17, 2013 Report Share Posted June 17, 2013 administration this afternoon according to rumours. Glug glug glug. Quote Link to comment Share on other sites More sharing options...
Carron Posted June 17, 2013 Report Share Posted June 17, 2013 From BBC News Hearts will go into administration within the next 24 hours. Papers have been lodged with the court of session in Edinburgh to formally begin the process. KPMG will be the company taking on the administration of the troubled Tynecastle club, while staff have been informed of the situation. If Hearts remain in administration by the opening of season 2013-14 in August, a points deduction of 15 points would be incurred. Quote Link to comment Share on other sites More sharing options...
dave mc Posted June 17, 2013 Report Share Posted June 17, 2013 Between their points penalty and Thistle being poor and County weaker,i reckon we're safe already scotty gordon 1 Quote Link to comment Share on other sites More sharing options...
541ntees Posted June 17, 2013 Report Share Posted June 17, 2013 From BBC News Hearts will go into administration within the next 24 hours. Papers have been lodged with the court of session in Edinburgh to formally begin the process. KPMG will be the company taking on the administration of the troubled Tynecastle club, while staff have been informed of the situation. If Hearts remain in administration by the opening of season 2013-14 in August, a points deduction of 15 points would be incurred. ----------------------------- doesnt the 15 point deduction(third of last years 45points) happen as soon as they go into admin? Quote Link to comment Share on other sites More sharing options...
rik2304 Posted June 17, 2013 Report Share Posted June 17, 2013 Dundee must be pretty annoyed. Managed to just struggle on long enough. Quote Link to comment Share on other sites More sharing options...
rik2304 Posted June 17, 2013 Report Share Posted June 17, 2013 And yet they STILL tried to sign Wilson the other week. They are their own worst enemy. Quote Link to comment Share on other sites More sharing options...
rik2304 Posted June 17, 2013 Report Share Posted June 17, 2013 Hope the 2 Scottish Cups were worth it. Quote Link to comment Share on other sites More sharing options...
Dr Christmas Jones Posted June 17, 2013 Report Share Posted June 17, 2013 Another shambles Quote Link to comment Share on other sites More sharing options...
PerthSeany Posted June 17, 2013 Report Share Posted June 17, 2013 When Romanov came in, i was about to turn 15 and even at that age I could see this coming... Its beyond me why no one at Hearts questioned him buying the club? Quote Link to comment Share on other sites More sharing options...
Dave H Posted June 17, 2013 Report Share Posted June 17, 2013 so the best they can hope for is a points reduction? So august is the start of the new season! So legally do the points not get docked off this reasons final total? Or does it make any odds as they are most likely out of business in a season or two! Time to merge or buy over livingston league position aka airdrie- clydebank Quote Link to comment Share on other sites More sharing options...
saintcraigieboy Posted June 17, 2013 Report Share Posted June 17, 2013 Think Hearts may well be third division or worse next year. Don't know all the admin/liquidation process but doesn't sound great. Can't see the banks go for a CVA. Quote Link to comment Share on other sites More sharing options...
ex-montrosesaintee Posted June 18, 2013 Report Share Posted June 18, 2013 Think Hearts may well be third division or worse next year. Don't know all the admin/liquidation process but doesn't sound great. Can't see the banks go for a CVA. But if they go for a CVA, won't the Lithuanian Bank and the other holding company make up more than 75% of the creditors and therefore call the shots in a CVA case. They could agree to paying back 1p in £1,000,000 and HMRC would have to tow the line would they not? This could go either way in my mind, either administration will be quick, most of the debt written off and Hearts continue (with or without a points deduction), or the Lithuanians will sell up everything and Hearts will be homeless and broke, with no assets whatsoever, and be unable to even apply for the 3rd division. Interesting few weeks ahead. Quote Link to comment Share on other sites More sharing options...
Cagey Posted June 18, 2013 Report Share Posted June 18, 2013 Battle now about who the administrator is going to be.The Lithuanions want Sevco liquidators BDA or something. How is that liqudation going by the way. Quote Link to comment Share on other sites More sharing options...
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