Jump to content

?1M Raised from shares


heartsfc_fan

Recommended Posts

Utter bullshit being spouted still;

 

"The club's majority shareholder Vladimir Romanov had put approximately 10% of his stake in the company up for sale."

 

Eh, no it wasn't. Well done to all who contributed.

Link to comment
Share on other sites

Utter bullshit being spouted still;

 

"The club's majority shareholder Vladimir Romanov had put approximately 10% of his stake in the company up for sale."

 

Eh, no it wasn't. Well done to all who contributed.

You're right mate. Definitely all new shares.

Link to comment
Share on other sites

Fantastic effort considering how quickly this was sprung on us and the time of year. Well done to everyone who contributed and ensured that the club survives.

Link to comment
Share on other sites

BBC Radio Scotland reported earlier that Hearts had raised over ?1 million, but were hoping for nearly ?2 million.

i.e negative spin.

It sounds like we have only raised half the amount whereas we have probably raised more like 70% of the initial target.

Link to comment
Share on other sites

Francis Albert

The second paragraph is wrong. They were new shares. And the fourth paragraph is surely wrong.

 

 

BBC Scotland reporting at its best.

 

Think I'll await the club announcement.

Link to comment
Share on other sites

tartofmidlothian

Brilliant. So an extra ?161,000 through ticket sales, and ?800,000 needed until season's end. More than achievable.

 

Well done everyone.

Link to comment
Share on other sites

A great effort by our supporters. At the start of the share issue ?1m would have been a good target I'm sure I read SF mentioning increased ticket sales for the remaining home games would bring us up to the ?1.8 mark. My only worry is the 500k tax bill in May but I suppose it can be taken care of through ST sales just hope that does not leave us short for next season.

It is important that we keep filling Tynie to keep the plan on course. The LC semi and hopefully getting to the final would also help our cashflow to get us through the season.

Link to comment
Share on other sites

tartofmidlothian

The club also say the share total might increase as postal applications are processed, and that they can still sell shares up until the United game on Sunday.

Link to comment
Share on other sites

Nice mention for Robbo

 

"I would also like to reserve special praise to a former player, manager and club legend that stepped forward when we most needed people to support us. John Robertson epitomises everything that is good about this club and its supporters. He was resolute and had the courage to ask the serious questions and make a positive contribution. He is symbolic of what is right about this club and in our eyes he mirrors the qualities shown by everyone that has invested to get the club to this stage.

Link to comment
Share on other sites

tartofmidlothian

"The club is still in a perilous position with a near ?800,000 shortfall between now and the end of the season. However if supporters rally at games at Tynecastle in the numbers that the club is clearly capable of generating then this in itself would make up almost the entire shortfall. Much of the rest could be generated through ticket sales for the Scottish Communities League Cup semi-final against Inverness."

 

:yas:

Link to comment
Share on other sites

tartofmidlothian

"I would also like to reserve special praise to a former player, manager and club legend that stepped forward when we most needed people to support us. John Robertson epitomises everything that is good about this club and its supporters. He was resolute and had the courage to ask the serious questions and make a positive contribution. He is symbolic of what is right about this club and in our eyes he mirrors the qualities shown by everyone that has invested to get the club to this stage."

 

:yas: :yas: :yas:

Link to comment
Share on other sites

Nelly Terraces

They'll not have processed the 2651 quid I stuck in yesterday, as I had to write them a cheque :deal2: , so add that to the total heh heh. :devilish:

Link to comment
Share on other sites

Special Agent Dale Cooper

Surely, since the deadline has been extended slightly, the money raised from 'the cardigan' can be used to purchase a final batch of JKB shares.

Link to comment
Share on other sites

John Montgomery

Brilliant result well done to everyone who decided they wanted to help by buying or contributing to shares and buying extra tickets.

Link to comment
Share on other sites

maroonlegions

"Heart of Midlothian feck off Hibernian ,we"ll support you evermore,we"ll support you evermore"

 

Great news for us and the club as a whole, lets keep it up,i am going to every home game i can .

Link to comment
Share on other sites

Provided we can reach the end of the season, we can move forward on the ownership front.

 

That will be a massive task in itself, mind.

Link to comment
Share on other sites

Brilliant. So an extra ?161,000 through ticket sales, and ?800,000 needed until season's end. More than achievable.

 

Spot in, and worth remembering that the figure of ?800k, is based in absolute worst case scenario. Any net income from player sales next month comes off that figure, as will any net savings in salary costs, from offloading any players.

Link to comment
Share on other sites

Steve_Jersey_HMFC

There's all the figures on the website..

 

http://www.heartsfc....2241384_3015011

 

Maybe a separate thread but there it is and a statement from Fed thanking everyone but reiterating that we're not out of the woods yet.

 

?161,000 from unbudgeted ticket sales.

 

Im take it inbudgeted means tickets they didnt think would sell so St Mirren accounted for a large part of that (maybe an extra 5/6k than expected) whereas we were expected to get what we did against Celtic, and maybe only expected to get 1/2 thousand less for sheep

In other words this figure doesnt represent every single matchday ticket sold since the doomsday statement? Just those that werent budgeted for..

Link to comment
Share on other sites

 

 

 

Im take it inbudgeted means tickets they didnt think would sell so St Mirren accounted for a large part of that (maybe an extra 5/6k than expected) whereas we were expected to get what we did against Celtic, and maybe only expected to get 1/2 thousand less for sheep

In other words this figure doesnt represent every single matchday ticket sold since the doomsday statement? Just those that werent budgeted for..

Exactly Steve, regular attenders are budgeted already, it's the extra bods that we need to encourage for every home game. Lets get together on the back of this excellent effort and push some more.

Link to comment
Share on other sites

we could sell 2 or 3 players next month, maybe mcgowan, zal and driver, the money from transfers plus the savings in wages could see us top the ?800,000

Link to comment
Share on other sites

we could sell 2 or 3 players next month, maybe mcgowan, zal and driver, the money from transfers plus the savings in wages could see us top the ?800,000

I'd take that, despite it leaving a big hole in our defence. Zal and Gowser about the only two we'd get a fee for and we need rid of Driver or for him to get a new contract on significantly reduced terms.

Link to comment
Share on other sites

kingantti1874

Well don Jambos, and well done to the club an excellent and transparent statement .

 

Lets keep the fundraining ideas going guys, and start with #selloutUTD - pester the **** out of everyone you know...

 

The Inverness game is now massively important, getting to the final would be a significant financial boost...

 

 

Link to comment
Share on other sites

This is a terrific effort by the fans in very tough economic times and makes me really proud to support HMFC.

 

I think Robbo deserves a special mention because you really could have forgiven him for not wanting to get involved in this - but its clear that he cares for HMFC that much that

he was prepared to put any issues he had with the current regime to one side in an effort to save the club.

 

I have absoloutely no doubt that Robbo was crucial in the relative success of the share issue.

 

We are by no means out the woods yet and must keep backing the club, but at least things are looking much more hopeful than they were a few weeks ago.

Link to comment
Share on other sites

The club statement is pretty good - at least it now acknowledges the ticket sales increase, but not the merchandise.

 

The figures are all a bit messy though, and the statement doesnt really provide clarity as to exactly where we are.

 

The "funding gap" when the share issue was launched was ?1.79m. Since that point the club agreed to pay a ?500k instalment to HMRC. So I presume the funding gap for the season is now ?2.29m. Has the club ever confirmed this?

 

At the time most fans agreed that any tax liability from our big tax case was as a result of an administrative screw up and the fans should not be held liable to pay it. Also at the time Serge said that the share issue money would not go towards any liability from the tax case - is this still the situation?

 

We also have the Celtic money, which must be classed as unexpected income - so another ?200k.

 

I guess the basic position is that the club MUST do some transfer exit business in the window. We must get some fees in, say a minimum of ?500k which I would guess is achievable, and just as importantly get some higher wages off the bill.

 

Anyway - well done to the people that count - the fans or supporters whatever - all contributors of money. No matter how it was donated or spent it has all counted to a fantastic effort

Link to comment
Share on other sites

The club statement is pretty good - at least it now acknowledges the ticket sales increase, but not the merchandise.

 

The figures are all a bit messy though, and the statement doesnt really provide clarity as to exactly where we are.

 

The "funding gap" when the share issue was launched was ?1.79m. Since that point the club agreed to pay a ?500k instalment to HMRC. So I presume the funding gap for the season is now ?2.29m. Has the club ever confirmed this?

 

At the time most fans agreed that any tax liability from our big tax case was as a result of an administrative screw up and the fans should not be held liable to pay it. Also at the time Serge said that the share issue money would not go towards any liability from the tax case - is this still the situation?

 

We also have the Celtic money, which must be classed as unexpected income - so another ?200k.

 

I guess the basic position is that the club MUST do some transfer exit business in the window. We must get some fees in, say a minimum of ?500k which I would guess is achievable, and just as importantly get some higher wages off the bill.

 

Anyway - well done to the people that count - the fans or supporters whatever - all contributors of money. No matter how it was donated or spent it has all counted to a fantastic effort

What was unexpected about Celtic money? Ticket money against them would very much have been budgeted for if that's what you're referring to.

Link to comment
Share on other sites

HEARTS director Sergejus Fedotovas today announced that the threat of liquidation no longer hangs over Tynecastle after more than ?1million was raised through the club?s share issue.

 

 

 

The Lithuanian thanked ?supporters for a phenomenal effort, which took the final total beyond ?1m following a late surge in sales of shares this week. The offer closed at 5pm yesterday, with Hearts reporting a seven-figure sum after ?an astonishing rally from fans.

Fedotovas said he had never encountered such a level of commitment from football fans before. Thanks to more than 4000 people who bought shares, Hearts are no longer in danger of going bust ? as had been the case just a few weeks ago when Her Majesty?s Revenue and Customs lodged a winding up order against the club over unpaid tax. More than 50 per cent of shares offered have been taken up and, although Hearts? initial aim was to raise ?1.79m, the fact they have surpassed ?1m is being considered a huge success.

?Despite the good effort, we will still be facing a funding gap until the end of the season, but this is significantly smaller than it was in the beginning,? said Fedotovas, speaking

exclusively to the Evening News. ?All the dangers of liquidation are in the past. Now we can work forward with confidence and look to achieve good

financial results for the club.

?We are looking into the

future and, if fans continue to support the club and continue coming to games, that will be enough to see the club to

financial stability.

?We have been able to raise over ?1?million. We regard this as a good foundation for the future and it helps us save the club at a difficult time. It

provides us funding required for the immediate short term.?

Last weekend, the total raised from shares was just over ?800,000. A late surge in sales brought the figure over the ?1m mark and Fedotovas admitted being astounded by supporters? dedication to the cause.

?The right words are not available to thank the fans for their efforts,? he continued. ?I believe over 4000 people have bought shares. Obviously, many more have helped in buying tickets for games and raising funds in other ways. We are really grateful to all of them.

?We will be looking to mark the efforts of the fans, either on the internet or somewhere at Tynecastle.

?I have definitely never experienced anything resembling this, the way the Hearts supporters have received the call and reacted to important things happening to the club.

?Obviously, I?m surprised that not a lot of wealthy businesses have been responsive to the share offer. Most of the donations were just small donations from simple fans. That shows we have a good core support which is really responsive to the situation.?

Link to comment
Share on other sites

kingantti1874

 

What was unexpected about Celtic money? Ticket money against them would very much have been budgeted for if that's what you're referring to.

 

He mean the payout all spl clubs get as a result of Celtic making knockouts o cl - think it is ?100k

Link to comment
Share on other sites

 

 

He mean the payout all spl clubs get as a result of Celtic making knockouts o cl - think it is ?100k

 

 

pretty sure that money turned out to be an urban myth?

Link to comment
Share on other sites

Francis Albert

The club statement is pretty good - at least it now acknowledges the ticket sales increase, but not the merchandise.

 

The figures are all a bit messy though, and the statement doesnt really provide clarity as to exactly where we are.

 

The "funding gap" when the share issue was launched was ?1.79m. Since that point the club agreed to pay a ?500k instalment to HMRC. So I presume the funding gap for the season is now ?2.29m. Has the club ever confirmed this?

 

At the time most fans agreed that any tax liability from our big tax case was as a result of an administrative screw up and the fans should not be held liable to pay it. Also at the time Serge said that the share issue money would not go towards any liability from the tax case - is this still the situation?

 

We also have the Celtic money, which must be classed as unexpected income - so another ?200k.

 

I guess the basic position is that the club MUST do some transfer exit business in the window. We must get some fees in, say a minimum of ?500k which I would guess is achievable, and just as importantly get some higher wages off the bill.

 

Anyway - well done to the people that count - the fans or supporters whatever - all contributors of money. No matter how it was donated or spent it has all counted to a fantastic effort

 

I don't remember the "funding gap" ever being equated to the ?1.79m ie the maximum income from the share issue. .

Link to comment
Share on other sites

we could sell 2 or 3 players next month, maybe mcgowan, zal and driver, the money from transfers plus the savings in wages could see us top the ?800,000

Hopefully we don't sell any players. We can raise the required 800k through ticket sales if we can sell out to the end of the season.

If we are to sell anyone in January let's make sure its after we have beaten ICT in the semi-final on 26 Jan. An appearance at Hampden in March for the final would clear the 800k in one fell swoop.

Link to comment
Share on other sites

The club statement is pretty good - at least it now acknowledges the ticket sales increase, but not the merchandise.

 

The figures are all a bit messy though, and the statement doesnt really provide clarity as to exactly where we are.

 

The "funding gap" when the share issue was launched was ?1.79m. Since that point the club agreed to pay a ?500k instalment to HMRC. So I presume the funding gap for the season is now ?2.29m. Has the club ever confirmed this?

 

At the time most fans agreed that any tax liability from our big tax case was as a result of an administrative screw up and the fans should not be held liable to pay it. Also at the time Serge said that the share issue money would not go towards any liability from the tax case - is this still the situation?

 

We also have the Celtic money, which must be classed as unexpected income - so another ?200k.

 

I guess the basic position is that the club MUST do some transfer exit business in the window. We must get some fees in, say a minimum of ?500k which I would guess is achievable, and just as importantly get some higher wages off the bill.

 

Anyway - well done to the people that count - the fans or supporters whatever - all contributors of money. No matter how it was donated or spent it has all counted to a fantastic effort

There was no extra money for Celtic reaching the last 16, only the190k per Club for them reaching the group stage. That would already have been factored in I think.
Link to comment
Share on other sites

Francis Albert

HEARTS director Sergejus Fedotovas today announced that the threat of liquidation no longer hangs over Tynecastle after more than ?1million was raised through the club?s share issue.

 

 

 

The Lithuanian thanked ?supporters for a phenomenal effort, which took the final total beyond ?1m following a late surge in sales of shares this week. The offer closed at 5pm yesterday, with Hearts reporting a seven-figure sum after ?an astonishing rally from fans.

Fedotovas said he had never encountered such a level of commitment from football fans before. Thanks to more than 4000 people who bought shares, Hearts are no longer in danger of going bust ? as had been the case just a few weeks ago when Her Majesty?s Revenue and Customs lodged a winding up order against the club over unpaid tax. More than 50 per cent of shares offered have been taken up and, although Hearts? initial aim was to raise ?1.79m, the fact they have surpassed ?1m is being considered a huge success.

?Despite the good effort, we will still be facing a funding gap until the end of the season, but this is significantly smaller than it was in the beginning,? said Fedotovas, speaking

exclusively to the Evening News. ?All the dangers of liquidation are in the past. Now we can work forward with confidence and look to achieve good

financial results for the club.

?We are looking into the

future and, if fans continue to support the club and continue coming to games, that will be enough to see the club to

financial stability.

?We have been able to raise over ?1?million. We regard this as a good foundation for the future and it helps us save the club at a difficult time. It

provides us funding required for the immediate short term.?

Last weekend, the total raised from shares was just over ?800,000. A late surge in sales brought the figure over the ?1m mark and Fedotovas admitted being astounded by supporters? dedication to the cause.

?The right words are not available to thank the fans for their efforts,? he continued. ?I believe over 4000 people have bought shares. Obviously, many more have helped in buying tickets for games and raising funds in other ways. We are really grateful to all of them.

?We will be looking to mark the efforts of the fans, either on the internet or somewhere at Tynecastle.

?I have definitely never experienced anything resembling this, the way the Hearts supporters have received the call and reacted to important things happening to the club.

?Obviously, I?m surprised that not a lot of wealthy businesses have been responsive to the share offer. Most of the donations were just small donations from simple fans. That shows we have a good core support which is really responsive to the situation.?

 

But as Hiugh Keevins asked in his (oddly) much admired article "what thanks do the fans get?"

Link to comment
Share on other sites

The club statement is pretty good - at least it now acknowledges the ticket sales increase, but not the merchandise.

 

The figures are all a bit messy though, and the statement doesnt really provide clarity as to exactly where we are.

 

The "funding gap" when the share issue was launched was ?1.79m. Since that point the club agreed to pay a ?500k instalment to HMRC. So I presume the funding gap for the season is now ?2.29m. Has the club ever confirmed this?

 

At the time most fans agreed that any tax liability from our big tax case was as a result of an administrative screw up and the fans should not be held liable to pay it. Also at the time Serge said that the share issue money would not go towards any liability from the tax case - is this still the situation?

 

We also have the Celtic money, which must be classed as unexpected income - so another ?200k.

 

I guess the basic position is that the club MUST do some transfer exit business in the window. We must get some fees in, say a minimum of ?500k which I would guess is achievable, and just as importantly get some higher wages off the bill.

 

Anyway - well done to the people that count - the fans or supporters whatever - all contributors of money. No matter how it was donated or spent it has all counted to a fantastic effort

Beating Inverness will be worth more than 500k. If we sell players we wont beat them.
Link to comment
Share on other sites

Francis Albert

800k the shortfall.

To be covered by players sales?

 

Try reading the Hearts statement.

 

It says increased attendances could cover most of the shortfall. I have no doubt we will try to raise money through player sales but the club is not saying it is relying on that, in fact it is saying that can't be relied on.

Link to comment
Share on other sites

Hopefully we don't sell any players. We can raise the required 800k through ticket sales if we can sell out to the end of the season.

If we are to sell anyone in January let's make sure its after we have beaten ICT in the semi-final on 26 Jan. An appearance at Hampden in March for the final would clear the 800k in one fell swoop.

if we make much more than ?800,000 we could sign cheaper replacments and offer new contracts to Barr, webster etc.

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.



×
×
  • Create New...