Tynecastle Latest......


Jimmy Wallace
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bit surprised at the lack of discussion about this.  I don't mean on here, but in general in the media.  Seems to me there is a serious likliehood of the Ukio Bankas administrators calling in the debt, forcing the sale of Tynecastle, plunging Jambos into admin or worse, seeing them docked points and relegated and thus saving the tinks. :?

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Its been getting discussed on another thread Jim,but i know what you mean about the lack of media coverage on the subject,just to add to this anyway,Hearts have been trying to hold out admin. until they are safe in the league,they will be deducted 17 points,or hopefully the end of the season.My old Hearts (season ticket holder) mate says the rumours coming from there are very doom and gloom,theres even talk of total total shut down and this turning into another The Rangers fiasco

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  • 2 weeks later...

Spl looking into their rules regarding insolvency to see whats to happen to the Jambos.One possibility is getting docked 17 points,which would relegate them.Whilst i'd really miss my days out at the Polwarth,it would be better for Saints imo,as Dundee would still be sh++,therefore saving us from any relegation fears,but would bring their big support to help fill our coffers.

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Would the scum still be relegated, i.e. Dunfermline last season, and the 2nd placed team in the first comes up if hearts are docked? Thats how it worked when sevco went tits up. Dundee got promoted.

Edited by candalan
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Would the scum still be relegated, i.e. Dunfermline last season, and the 2nd placed team in the first comes up if hearts are docked? Thats how it worked when sevco went tits up. Dundee got promoted.

 

The difference is that Hearts would only go down to First Division, as the relegated team.

 

Last year, a team (if I remember rightly, I think they were called Glasgow Rangers) got righly punted out of the league set-up all together

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Indeed Hearts would go down as the relegated team as the season is still in progress. From what I can get from the BBC article the SPL are looking through the rules with their lawyers concerning parent companies of clubs being insolvent. As has been confirmed UBIG has asked to be declared insolvent so the points deduction could kick in now and doom Hearts before the club itself is insolvent.

 

"UBIG and their sister company Ukio Bankas, which has collapsed with debts of £380m, own 79% of Hearts' shares.

Hearts owe £10m to UBIG and £15m to Ukio Bankas, who are in the process of challenging a bankruptcy order in Lithuania."

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A can of worms indeed.  The SPL have to decide whether to deduct points before the end of the season (and therefore relegation) because the parent company has already requested administration, or not to deduct points because Hearts football club will have managed to fulfill or their match commitments before possibly going into administration themselves.

 

There is little point making comparisons with Rangers, because the rules have been changed since that debacle took place.  So I suspect it will really boil down to whether Donkeycaster etc 'want' Hearts to be relegated or not, and then they will interpret the rules to get want they want.  I suspect their decision will be finance based, that is, will the SPL be better off with Hearts in the SPL or Div 1.

 

Whatever happens, the Orks will feel hard done by having been dumped into Div 3, mainly because they are paranoid,  incapable of logical thinking, and probably can't spell 'liquidation' or 'administration', let alone understand the meaning.  So expect an increasing in grunting noises from the Glasgow area.

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Much more muddier waters than with Rangers (and that is saying something)..God knows what is really going on.

If anything, I'd expect 'punishment' to come next season rather than this one.

Yeah I agree - plus it gives the like of Preston and Co to get some finance organised IF the bank calls the £10 million in - Cannot see die hard Jambo businessmen letting their club go to the wall----but you never know -thank goodness it aint Saints in that mess.
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While I expect most fans will see this as a dodgy situation for donkeycaster etc, whereas they will see it as a great opportunity to choose who gets relegated. Another sign of how shockingly Scottish football is run. Is it any wonder that clubs are being mismanaged, when they are expected to compete in a mismanaged league governed by a mismanaged association.

Huge credit to Geoff and Steve Brown and their directors for achieving the impossible over the last three decades.

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No punishment, Dundee relegated.  No surprise really.  Does Hearts potentially starting on -15 points next season make any difference to us.  I'd like to think with the players we have committed - especially such a good goalkeeper - we won't be in a relegation battle next season?  Not counting any chickens mind you.

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