Paulie Walnut Posted February 20, 2013 Share Posted February 20, 2013 Douglas Fraser ?@BBCDouglsFraser Hearts' ground, Tynecastle, may have to be sold as Ukio, its Lithuanian owner's bank, is wound up, local Bloomberg reporter tells@bbcgms Link to comment Share on other sites More sharing options...
Guest oldcastlerock2012 Posted February 20, 2013 Share Posted February 20, 2013 The ground has been up for sale, along with the rest of the club, for a quite a while. It's just been totally over-valued by Romanov. If it's a forced sale, this could be good news for us and a great opportunity if there are any potential buyers lurking around hoping for a bargain. Link to comment Share on other sites More sharing options...
Paulie Walnut Posted February 20, 2013 Author Share Posted February 20, 2013 Douglas Fraser ?@BBCDouglsFraser Hearts FC finances: Links to collapse of Ukio Bankas very unclear amid complex relationships, local Bloomberg reporter tells @bbcgms Link to comment Share on other sites More sharing options...
Jambof3tornado Posted February 20, 2013 Share Posted February 20, 2013 So local bloomberg reporter hasnt a scooby amid very unclear complex relationships!!! Link to comment Share on other sites More sharing options...
babertonjambo Posted February 20, 2013 Share Posted February 20, 2013 Jeez, this guy is quick off the mark. Tell us something we don't know! Link to comment Share on other sites More sharing options...
Lambo the Jambo Posted February 20, 2013 Share Posted February 20, 2013 As we all have known for a while the administrators are going to be forced to make a quick sale of the club. Could be very positive for HMFC. Link to comment Share on other sites More sharing options...
Guest oldcastlerock2012 Posted February 20, 2013 Share Posted February 20, 2013 In tomorrow's news: "Hearts may or may not win the League Cup this season" Link to comment Share on other sites More sharing options...
Drewjambobusby Posted February 20, 2013 Share Posted February 20, 2013 I think we could see a Rangers type scenario unfolding here. A consortium comes in and buys the assets at bargain price same as Green did with Ibrox and Murray Park, and we have to start life again in 3rd Division as newco Hearts. In fact, can we get our original identity back as Heart of Midlothian ? and not Hearts FC ? Anyway i am sure it is going to move at a rate of knots. What we have to hope is , whatever happens, we come out of it debt free and still at Tynie. Link to comment Share on other sites More sharing options...
DETTY29 Posted February 20, 2013 Share Posted February 20, 2013 I think we could see a Rangers type scenario unfolding here. A consortium comes in and buys the assets at bargain price same as Green did with Ibrox and Murray Park, and we have to start life again in 3rd Division as newco Hearts. In fact, can we get our original identity back as Heart of Midlothian ? and not Hearts FC ? Anyway i am sure it is going to move at a rate of knots. What we have to hope is , whatever happens, we come out of it debt free and still at Tynie. Who is appointing a UK administrator? Link to comment Share on other sites More sharing options...
Guest oldcastlerock2012 Posted February 20, 2013 Share Posted February 20, 2013 I think we could see a Rangers type scenario unfolding here. A consortium comes in and buys the assets at bargain price same as Green did with Ibrox and Murray Park, and we have to start life again in 3rd Division as newco Hearts. In fact, can we get our original identity back as Heart of Midlothian ? and not Hearts FC ? Anyway i am sure it is going to move at a rate of knots. What we have to hope is , whatever happens, we come out of it debt free and still at Tynie. Not sure if would have to start as a newco or get relegated in the scenario of UKIO's administration forcing a Tynecastle sale. We're not owned by UKIO so it wouldn't be us going into admin so no penalties. The ground/club ownership would just be transferred. Link to comment Share on other sites More sharing options...
Coco Posted February 20, 2013 Share Posted February 20, 2013 My guess is that if UBIG have been so dependent on finance from Ukio Bankas they won't be very long in administration before going into liquidation. Unless there is another source of funds, perhaps private capital if VR wants and is able to hold onto some of his trophy assets. Link to comment Share on other sites More sharing options...
Barney Rubble Posted February 20, 2013 Share Posted February 20, 2013 I think we could see a Rangers type scenario unfolding here. A consortium comes in and buys the assets at bargain price same as Green did with Ibrox and Murray Park, and we have to start life again in 3rd Division as newco Hearts. In fact, can we get our original identity back as Heart of Midlothian ? and not Hearts FC ? Anyway i am sure it is going to move at a rate of knots. What we have to hope is , whatever happens, we come out of it debt free and still at Tynie. What are you havering about , those hours spent on mymumismysister.net has really comes in handy for you ! Link to comment Share on other sites More sharing options...
Guest oldcastlerock2012 Posted February 20, 2013 Share Posted February 20, 2013 My guess is that if UBIG have been so dependent on finance from Ukio Bankas they won't be very long in administration before going into liquidation. Unless there is another source of funds, perhaps private capital if VR wants and is able to hold onto some of his trophy assets. He held onto his Moscow property reportedly when they went after that. Link to comment Share on other sites More sharing options...
Drewjambobusby Posted February 20, 2013 Share Posted February 20, 2013 Is a UK Administrator pertinent ? I really don`t know just asking ? A transfer of ownership would be great. Obviously the debt is the key to future advancement. Cannot see them writing it off. Link to comment Share on other sites More sharing options...
Drewjambobusby Posted February 20, 2013 Share Posted February 20, 2013 What are you havering about , those hours spent on mymumismysister.net has really comes in handy for you ! WTF are you all bout mate ? I am just offerring my opinion. Isn`t that what forums are all about. Now run along and offer yours or just f off. Link to comment Share on other sites More sharing options...
Guest oldcastlerock2012 Posted February 20, 2013 Share Posted February 20, 2013 Is a UK Administrator pertinent ? I really don`t know just asking ? A transfer of ownership would be great. Obviously the debt is the key to future advancement. Cannot see them writing it off. The debt is not getting paid off ever by anyone. One way or the other, almost all of it will be written off. Wouldn't it be funny if we become debt free and someone sympathetic to the club gets us for a song due to a forced sale and we get to stay at Tynie, at least for a bit longer? AND we win two, maybe three, cups during the whole period. As a Romanov legacy, that would be a damn fine one. Link to comment Share on other sites More sharing options...
Stupid Sexy Flanders Posted February 20, 2013 Share Posted February 20, 2013 I think we could see a Rangers type scenario unfolding here. A consortium comes in and buys the assets at bargain price same as Green did with Ibrox and Murray Park, and we have to start life again in 3rd Division as newco Hearts. In fact, can we get our original identity back as Heart of Midlothian ? and not Hearts FC ? Anyway i am sure it is going to move at a rate of knots. What we have to hope is , whatever happens, we come out of it debt free and still at Tynie. Why would this happen, Hearts aren't going into administration/liquidation? Link to comment Share on other sites More sharing options...
Mister Dee Posted February 20, 2013 Share Posted February 20, 2013 We desperately need someone with serious money to show their hand shortly. The FOH need to make their move pretty soon, or their idea of fan ownership may disappear. Link to comment Share on other sites More sharing options...
Drewjambobusby Posted February 20, 2013 Share Posted February 20, 2013 Why would this happen, Hearts aren't going into administration/liquidation? Understand that although, i do think once UBIGS position becomes clear that this could be a possibility once administrators of UBIG start calling in assets ? Like i say don`t know , just trying to get a handle on it. Link to comment Share on other sites More sharing options...
Drewjambobusby Posted February 20, 2013 Share Posted February 20, 2013 The debt is not getting paid off ever by anyone. One way or the other, almost all of it will be written off. Wouldn't it be funny if we become debt free and someone sympathetic to the club gets us for a song due to a forced sale and we get to stay at Tynie, at least for a bit longer? AND we win two, maybe three, cups during the whole period. As a Romanov legacy, that would be a damn fine one. That would be the finest scenario. Link to comment Share on other sites More sharing options...
Pans Jambo Posted February 20, 2013 Share Posted February 20, 2013 This is getting a bit smelly for me! Bit by bit the news is drip fed and some reporter or another comes out with "news" about UBIG/UKIO/Hearts etc. WHat next? A BBC undercover reporter does a revealing documentary that goes on BBC2! Sounds familiar. So, just to be sure that I have woken up this morning: Romanov owns the majority share in Hearts FC and also has the majority share of UKIO Bankas UKIO Bankas are up shit creek with no money and is now in "temporary" administration. UKIO Bankas does "some" business with Hearts but according to our leader "nothing that will change the day to day running of the club". UKIO Bankas Investment Group (UBIG) are the ones that Hearts FC owe the debts to, and they dont have very much to do with UKIO Bankas. Is that right? Does Romanov also own UBIG then? Hearts owe several million pounds of debt to UBIG and also the tax payments (3 x ?500K lots). If Ukio Bankas gets liquidated, how does that affect Hearts IF they dont own any part of Hearts FC? OR Is is BECAUSE Romanov owns UKIO & UBIG that Tynecastle may have to be sold as he will have it somewhere listed as an asset that either he owns, or is owned by a company that he owns or is a major shareholder of? Seriously, I'm a bit confused on this issue. Also, If this does affect UBIG and they go into administration (as well as UKIO), would they not be treated by Hearts FC like any other supplier of goods and services to the club that goes into administration? I can see a BBC2 documentary on the cards!!! Link to comment Share on other sites More sharing options...
Balmain Posted February 20, 2013 Share Posted February 20, 2013 This is getting a bit smelly for me! Bit by bit the news is drip fed and some reporter or another comes out with "news" about UBIG/UKIO/Hearts etc. WHat next? A BBC undercover reporter does a revealing documentary that goes on BBC2!Sounds familiar. So, just to be sure that I have woken up this morning: Romanov owns the majority share in Hearts FC and also has the majority share of UKIO Bankas UKIO Bankas are up shit creek with no money and is now in "temporary" administration. UKIO Bankas does "some" business with Hearts but according to our leader "nothing that will change the day to day running of the club". UKIO Bankas Investment Group (UBIG) are the ones that Hearts FC owe the debts to, and they dont have very much to do with UKIO Bankas. Is that right? Does Romanov also own UBIG then? Hearts owe several million pounds of debt to UBIG and also the tax payments (3 x ?500K lots). If Ukio Bankas gets liquidated, how does that affect Hearts IF they dont own any part of Hearts FC? OR Is is BECAUSE Romanov owns UKIO & UBIG that Tynecastle may have to be sold as he will have it somewhere listed as an asset that either he owns, or is owned by a company that he owns or is a major shareholder of? Seriously, I'm a bit confused on this issue. Also, If this does affect UBIG and they go into administration (as well as UKIO), would they not be treated by Hearts FC like any other supplier of goods and services to the club that goes into administration? I can see a BBC2 documentary on the cards!!! Ubig own Hearts. Link to comment Share on other sites More sharing options...
Drewjambobusby Posted February 20, 2013 Share Posted February 20, 2013 This is getting a bit smelly for me! Bit by bit the news is drip fed and some reporter or another comes out with "news" about UBIG/UKIO/Hearts etc. WHat next? A BBC undercover reporter does a revealing documentary that goes on BBC2! Sounds familiar. So, just to be sure that I have woken up this morning: Romanov owns the majority share in Hearts FC and also has the majority share of UKIO Bankas UKIO Bankas are up shit creek with no money and is now in "temporary" administration. UKIO Bankas does "some" business with Hearts but according to our leader "nothing that will change the day to day running of the club". UKIO Bankas Investment Group (UBIG) are the ones that Hearts FC owe the debts to, and they dont have very much to do with UKIO Bankas. Is that right? Does Romanov also own UBIG then? Hearts owe several million pounds of debt to UBIG and also the tax payments (3 x ?500K lots). If Ukio Bankas gets liquidated, how does that affect Hearts IF they dont own any part of Hearts FC? OR Is is BECAUSE Romanov owns UKIO & UBIG that Tynecastle may have to be sold as he will have it somewhere listed as an asset that either he owns, or is owned by a company that he owns or is a major shareholder of? Seriously, I'm a bit confused on this issue. Also, If this does affect UBIG and they go into administration (as well as UKIO), would they not be treated by Hearts FC like any other supplier of goods and services to the club that goes into administration? I can see a BBC2 documentary on the cards!!! Hahaha. Yep your about as confused as me. However, strangely your post has answered some points for me. Link to comment Share on other sites More sharing options...
Stupid Sexy Flanders Posted February 20, 2013 Share Posted February 20, 2013 Understand that although, i do think once UBIGS position becomes clear that this could be a possibility once administrators of UBIG start calling in assets ? Like i say don`t know , just trying to get a handle on it. I didn't mean to make it sound like I've got a clue what's going on, I'm as/more confused than anyone! Link to comment Share on other sites More sharing options...
CBjambo Posted February 20, 2013 Share Posted February 20, 2013 Surely the bank building at St Andrews Square is a bigger asset than Tynecastle? Link to comment Share on other sites More sharing options...
thirdyboy1976 Posted February 20, 2013 Share Posted February 20, 2013 Just a thought & please for give me as business finance is not my strong point but in theory could someone buy Tynecastle without buying the rest of the club/business or does it all come as a package? Link to comment Share on other sites More sharing options...
CBjambo Posted February 20, 2013 Share Posted February 20, 2013 Just a thought & please for give me as business finance is not my strong point but in theory could someone buy Tynecastle without buying the rest of the club/business or does it all come as a package? Yes they could. Link to comment Share on other sites More sharing options...
The Great Khali Posted February 20, 2013 Share Posted February 20, 2013 I don't know what's going on and it scares me Link to comment Share on other sites More sharing options...
langsidejambo Posted February 20, 2013 Share Posted February 20, 2013 Vlad has shares in UBIG but is he the majority shareholder? Link to comment Share on other sites More sharing options...
McCrae Posted February 20, 2013 Share Posted February 20, 2013 As we all have known for a while the administrators are going to be forced to make a quick sale of the club. Could be very positive for HMFC. Why would they be forced to do a quick sale? It is possible this could happen, but it also could take years. We just don't know. Look at Northern Rock.... The bad debts and loans have not all been sold off yet. If Hearts debts is transferred to the bad loan bank... Their will be no time pressure for that bank to sell them. If the new bank thinks they can get more money by holding off a sale they will. Link to comment Share on other sites More sharing options...
Jezza Posted February 20, 2013 Share Posted February 20, 2013 Once again, the wankers in charge of the club, who have depended on the support for months now should clarify the situation ffs. We are getting treating like ******s here. Link to comment Share on other sites More sharing options...
Fermit the Krog Posted February 20, 2013 Share Posted February 20, 2013 Once again, the wankers in charge of the club, who have depended on the support for months now should clarify the situation ffs. We are getting treating like ******s here. The people that matter have more pressing issues at the minute. We're small fry in the grand scheme. And those at Tynecastle, don't have a clue what is happening. Hope this helps. Link to comment Share on other sites More sharing options...
fountainbridgehearts Posted February 20, 2013 Share Posted February 20, 2013 No news is good news. UBIG ain't in trouble are they?its ukio bankas that are Link to comment Share on other sites More sharing options...
Dallas Green Posted February 20, 2013 Share Posted February 20, 2013 Hearts FC Link to comment Share on other sites More sharing options...
Dunks Posted February 20, 2013 Share Posted February 20, 2013 Surely the bank building at St Andrews Square is a bigger asset than Tynecastle? Is that not owned by UBIG, rather than Ukio? It is possible that is was transferred as an asset to shore up the shortfall, but like everything else, we don't know the detail at this time. I suspect the temporary administrator is trying to ascertain the same. Link to comment Share on other sites More sharing options...
Jezza Posted February 20, 2013 Share Posted February 20, 2013 The people that matter have more pressing issues at the minute. We're small fry in the grand scheme. And those at Tynecastle, don't have a clue what is happening. Hope this helps. Well that's really not good enough then is it? I couldn't give a shit about pressing matters I give a shit about our club, we don have people running us you know! I'm not expecting an Easter message from Romanov but a little transpariccy would go a long way right now! Link to comment Share on other sites More sharing options...
soonbe110 Posted February 20, 2013 Share Posted February 20, 2013 I don't think so, though his family and friends own a fair chunk I think from memory I thought vlad owned about 33% but I don't know for sure. I think he is single biggest shareholder but not the majority shareholder ie. 51%or more. I believe Vlad + family members + his cronies own substantial majority of Ubig. Ubig is basically Vlad's investment vehicle. Used to be part of the Bank but was split off a few years ago. Don't know why, but probably so that the loans could be faciitated without Regulator knowing about them. Link to comment Share on other sites More sharing options...
Fermit the Krog Posted February 20, 2013 Share Posted February 20, 2013 Well that's really not good enough then is it? I couldn't give a shit about pressing matters I give a shit about our club, we don have people running us you know! I'm not expecting an Easter message from Romanov but a little transpariccy would go a long way right now! You need to untwist your knickers. You think David Southern has any idea what is happening within Ukio and the Lithuanian central bank? You think Serg is likely to say anything whilst at the same time actively encouraging interest in the club? (even if he did, I suspect you and others would claim he was just saying what he was told to. Puppet...Lapdug etc) When there's something to know, you'll hear about it. Stamping your feet and demanding answers just makes you look foolish. Link to comment Share on other sites More sharing options...
Juan Jose Carricondo Perez Posted February 20, 2013 Share Posted February 20, 2013 Until we know who is going to own the charge and what they intend to do with it then you can speculate all you want. UKIO overstated assets to liabilities by $420 million. ?6.8m is a very small part of that. Link to comment Share on other sites More sharing options...
King of the North Posted February 20, 2013 Share Posted February 20, 2013 People need to calm down. When the Huns were liquidated and died ( and no matter what bullshit is being peddled by the Hun hordes, that is exactly what happened), the popular line became 'aye, but it wiz the haulding company no the club, so it wiz.'. Which is bollocks, and we can tell it is bollocks because you don't lose your SPL place or have to wait three years to play in Europe for a simple ownership change. For us, it really is the company, not the club, which is in admin. If we are sold, if the ground is sold as part of that process, it has feck all to do with our status as a club. No admin, no docked points, no need for sevco style revisionism... Link to comment Share on other sites More sharing options...
Gene Parmesan Posted February 20, 2013 Share Posted February 20, 2013 If you listen to the interview, the Bloomberg guy clarifies that the stadium is still owned by Hearts, the loan security will probably transfer to Siauliu Bankas and that will remain as nothing more than a security (ie the floating charge) unless the loan is defaulted upon. It was a poorly framed, arguably leading, question. He also said that the whole situation is likely to end up in a fairly quick sale of Hearts, not immediate as the ownership structure had to be unravelled by the Lithuanian Central Bank first, but certainly within the timeframe that Sergejus mentioned at the weekend (by the end of the financial year). Link to comment Share on other sites More sharing options...
Jezza Posted February 20, 2013 Share Posted February 20, 2013 You need to untwist your knickers. You think David Southern has any idea what is happening within Ukio and the Lithuanian central bank? You think Serg is likely to say anything whilst at the same time actively encouraging interest in the club? (even if he did, I suspect you and others would claim he was just saying what he was told to. Puppet...Lapdug etc) When there's something to know, you'll hear about it. Stamping your feet and demanding answers just makes you look foolish. No I don't. Do you not think the folk in charge of the club have any clue what is going on? Is that what your saying? I couldn't care less if others or myself called Serge a lapdog, at least though the club would have addressed the support of the club. Link to comment Share on other sites More sharing options...
Fermit the Krog Posted February 20, 2013 Share Posted February 20, 2013 No I don't. Do you not think the folk in charge of the club have any clue what is going on? Is that what your saying? I couldn't care less if others or myself called Serge a lapdog, at least though the club would have addressed the support of the club. *sigh Do I think the folk in charge of the club have any idea of what is going on? The 'folk' in day to day charge of the club won't have the first clue about what is happening in Lithuania. You can choose to believe that or not. Last week when Ukio entered admin a statement was released. It appears you may have missed it. http://www.heartsfc.co.uk/articles/20130212/ukio-bankas_2241384_3073673 It's pretty clear and as the situation with regards Ubig hasn't yet changed I don't see any need for further comment. Link to comment Share on other sites More sharing options...
Stuart McNeill Posted February 20, 2013 Share Posted February 20, 2013 Little cousin got a hold of my phone >.>! Hopefully Tynecastle doesn't go down, still fairly positive about this though! Link to comment Share on other sites More sharing options...
Paolo Posted February 20, 2013 Share Posted February 20, 2013 In tomorrow's news: "Hearts may or may not win the League Cup this season" That would be better than their usual efforts. Link to comment Share on other sites More sharing options...
stirlo Posted February 20, 2013 Share Posted February 20, 2013 Its still unclear how this will all play out - but there is one major factual difference between our situation and Rangers - that difference being that HMRC was the major creditor in the case of Rangers. They had their own reasons for wishing to liquidate the oldco. In the case of Hearts, If you are the Bank looking to realise as much value as possible from the club in the quickest possible time, your best bet would be to sell the club as a going concern. The alternative would be to liquidate the club, which leaves you with an asset (Tynecastle) worth a maximum of ?6.5 million - but which will realise considerably less than that when you subtract the costs of the liquidator (plus marketing costs). For the moment, we are unlikely to know how this will unfold until we have a clearer picture of the position of UBIG in all this. Link to comment Share on other sites More sharing options...
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