Dr. Bapswent Posted February 21, 2013 Share Posted February 21, 2013 Hearts have agreed to accept ?400,000 from Rangers as final payment for Lee Wallace. ?500,000 was due to be paid in the summer#BBCSPORTSCOT Link to comment Share on other sites More sharing options...
jambovambo Posted February 21, 2013 Share Posted February 21, 2013 Hmmmph. Probably just as well - better to get it now, as we need it really badly, than wait and maybe not get it from them later. Link to comment Share on other sites More sharing options...
scott_jambo Posted February 21, 2013 Share Posted February 21, 2013 Hearts have agreed to accept ?400,000 from Rangers as final payment for Lee Wallace. ?500,000 was due to be paid in the summer#BBCSPORTSCOT :wtf: Do these guys pay any of their debts? Absolute disgrace. Link to comment Share on other sites More sharing options...
Ron Burgundy Posted February 21, 2013 Share Posted February 21, 2013 Makes sense,might not be here in the summer without that cash. Link to comment Share on other sites More sharing options...
Hugh Phamism Posted February 21, 2013 Share Posted February 21, 2013 @BBCBMcLauchlin Hearts have agreed to accept ?400,000 from Rangers as final payment for Lee Wallace. ?500,000 was due to be paid in the summer#BBCSPORTSCOT and @BBCBMcLauchlin Lithuanian Bank Ukio Bankas owned by Hearts majority shareholder collapsed with debts of around ?376 million#bbcsportscot Link to comment Share on other sites More sharing options...
Paolo Posted February 21, 2013 Share Posted February 21, 2013 Hmmmph. Probably just as well - better to get it now, as we need it really badly, than wait and maybe not get it from them later. They may go bust again anyway. I think Rapid Vienna accepted a reduced deal also. Link to comment Share on other sites More sharing options...
Dr. Bapswent Posted February 21, 2013 Author Share Posted February 21, 2013 Not sure if this is a decent deal.... or a worrying development... Link to comment Share on other sites More sharing options...
redm Posted February 21, 2013 Share Posted February 21, 2013 Not sure if this is a decent deal.... or a worrying development... I'm tempted to go with the latter.... Sounds awfully like a panic decision. We can't afford to lose ?100k so there must be immediate and pressing problems which made them take this decision. Link to comment Share on other sites More sharing options...
Dazo Posted February 21, 2013 Share Posted February 21, 2013 Not sure if this is a decent deal.... or a worrying development... Both ? Link to comment Share on other sites More sharing options...
Alwaysinourshadows Posted February 21, 2013 Share Posted February 21, 2013 Romanov getting his money early as he is ###### Link to comment Share on other sites More sharing options...
scott_jambo Posted February 21, 2013 Share Posted February 21, 2013 We are another SPL club. There is a rule against this. Regardless of whether Hearts and Rangers want to cut a deal - Rangers must pay their debts in full or the SPL should pick up the rest as they have a pot available. We should take the ?400,000 then the new owners should challenge the legality of the deal struck between the two clubs and chase the remainder. Link to comment Share on other sites More sharing options...
Mr Romanov Saviour of HMFC Posted February 21, 2013 Share Posted February 21, 2013 Tell you what, if it wasn't for Rangers FC we'd be dead and buried by now. Thank you, friends from the west. Link to comment Share on other sites More sharing options...
Dr. Bapswent Posted February 21, 2013 Author Share Posted February 21, 2013 I'm tempted to go with the latter.... Sounds awfully like a panic decision. We can't afford to lose ?100k so there must be immediate and pressing problems which made them take this decision. Surely not connected to the dissolution of Ukio Bankas? Could be we need cash to pay for stuff... Or we are gathering in cash because we soon might not exist in which to claim the cash at all! Oh dear... Link to comment Share on other sites More sharing options...
BoJack Horseman Posted February 21, 2013 Share Posted February 21, 2013 I'm tempted to go with the latter.... Sounds awfully like a panic decision. We can't afford to lose ?100k so there must be immediate and pressing problems which made them take this decision. We can't lose money we never had. ?400k now obviously means a lot more to us than ?500k in the summer. Link to comment Share on other sites More sharing options...
jambos are go! Posted February 21, 2013 Share Posted February 21, 2013 VR getting in as much as he can before he sells? Link to comment Share on other sites More sharing options...
Stuart McNeill Posted February 21, 2013 Share Posted February 21, 2013 Romanov cashing in whatever he can! Link to comment Share on other sites More sharing options...
Guest Bilel Mohsni Posted February 21, 2013 Share Posted February 21, 2013 Smashing. Could somebody please just buy our club and un-fasten the bondage equipment that has us prostrate over a barrel with our well-lubed bottom on display for any creep around to spank or pump the absolute shite out of. Maybe Lee will offer some compensation to us... Like Boyd did when he waived his signing on fee from Rangers to help Killie? Nah? Wishful thinking, eh? Link to comment Share on other sites More sharing options...
Balders Posted February 21, 2013 Share Posted February 21, 2013 We have a ?500K tax bill due in May? So may be gathering as much together to help with that as well as with the running costs until the end of the season Link to comment Share on other sites More sharing options...
deejtee Posted February 21, 2013 Share Posted February 21, 2013 Other clubs seem to have accepted a reduced payment and did we not offer to cut the amount for early settlement last year? ?400,000 won't save Vlad's bank but it may save us so it seems ok to me. Link to comment Share on other sites More sharing options...
oh ah grantona Posted February 21, 2013 Share Posted February 21, 2013 We have a ?500K tax bill due in May? So may be gathering as much together to help with that as well as with the running costs until the end of the season This hopefully will be the reason with the 400k being ring fenced for this purpose Link to comment Share on other sites More sharing options...
Mr Romanov Saviour of HMFC Posted February 21, 2013 Share Posted February 21, 2013 Anyone who thinks 400k we are getting now is being kept for May has chucked it. Like everything at this club, they've probably barely thought about that and will make it up as they go along. Link to comment Share on other sites More sharing options...
Francis Albert Posted February 21, 2013 Share Posted February 21, 2013 I was never sure why all the outstanding Wallace money wasn't paid out of SPL prize money in line with the SPL rules when it all became due upon Rangers Oldco entering administration. Anyway I think this is just another example of the hand to mouth existence we are living, and since the first thing some people fret about if there is a hint of trouble with Newco is "what about the Wallace money?" , it does at least eliminate one uncertainty about the future. Link to comment Share on other sites More sharing options...
Jezza Posted February 21, 2013 Share Posted February 21, 2013 Hopefully the money goes right into the club. Link to comment Share on other sites More sharing options...
SectionDJambo Posted February 21, 2013 Share Posted February 21, 2013 Rapid Vienna are pursuing old co for the rest of their money. Will we do the same? Won't get 100k but could get something. If getting this in early saves possible penalties from hmrc for late payment of the first tax instalment, then it makes sense. This, plus we were expecting to sell somebody else in the current windows. Maybe Zaliukas getting injured stopped his possible transfer to Young Boys? Immediate shortfall from this made up? Link to comment Share on other sites More sharing options...
jambovambo Posted February 21, 2013 Share Posted February 21, 2013 This plus driver deals means we need cash desperately. I doubt it's being done in preparation of covering possible debts being called in. More the fact that cash flow is a much bigger issue that I feared. We need to have money to trade now or were in real trouble. I don't see this as a positive if I'm honest. However, needs must and cash flow is life blood of any business. Something slightly ironic about the Huns doing this. I'll bet it was Hearts who made the call ... Link to comment Share on other sites More sharing options...
Balders Posted February 21, 2013 Share Posted February 21, 2013 Anyone who thinks 400k we are getting now is being kept for May has chucked it. Like everything at this club, they've probably barely thought about that and will make it up as they go along. Maybe I am giving them too much credit but we have to be making some plans to pay this bill, we have known about it since November and we simply cannot be late this time or HMRC will throw the book at us. Given that Rapid Vienna also agreed a settlement this week for Jelavic it may just be that Rangers are now working through their debts and making offers at the moment that are take it or leave it, therfore that could explain the timing. Link to comment Share on other sites More sharing options...
Drumelzier Posted February 21, 2013 Share Posted February 21, 2013 Can't help thinking about how much our current shirt sponsers would have charged for a 3 month loan on 400K, surely no where near 100K. Link to comment Share on other sites More sharing options...
Guest Bilel Mohsni Posted February 21, 2013 Share Posted February 21, 2013 Rangers... Bending us over and taking everything they want from us since 1874. I'm just amazed that anyone connected with Hearts still views them with anything less than the contempt we all reserve for the mhanks and the vermin to be honest. Link to comment Share on other sites More sharing options...
DETTY29 Posted February 21, 2013 Share Posted February 21, 2013 This hopefully will be the reason with the 400k being ring fenced for this purpose It won't be ring fenced. Season ticket money will cover the first HMRC installment. We desperately need cashflow to and in order:- 1) Pay HMRC PAYE/NI/VAT- rememeber no more late paying or it's straight to winding up order 2) Wages - next stop points deduction 3) Critical bills that could stop games being played. On top of the many worries I have is that we could start using ticket money received for the Hibs game and League Cup Final as working capital and not in a position to hand over on time. That would be serious brown stuff. Link to comment Share on other sites More sharing options...
Francis Albert Posted February 21, 2013 Share Posted February 21, 2013 I'll bet it was Hearts who made the call ... And Rapid Vienna did coincidentally in the same week? Link to comment Share on other sites More sharing options...
Mr Romanov Saviour of HMFC Posted February 21, 2013 Share Posted February 21, 2013 Rangers... Bending us over and taking everything they want from us since 1874. I'm just amazed that anyone connected with Hearts still views them with anything less than the contempt we all reserve for the mhanks and the vermin to be honest. How do you know Hearts never approached them and made a deal? Shall we just give them it back and go bust then to save face? Link to comment Share on other sites More sharing options...
Dallas Green Posted February 21, 2013 Share Posted February 21, 2013 Tell you what, if it wasn't for Rangers FC we'd be dead and buried by now. Thank you, friends from the west. As horrible as it is. It's true EDIT: Although we ourselves had a massive say in our club surviving. Link to comment Share on other sites More sharing options...
Guest Bilel Mohsni Posted February 21, 2013 Share Posted February 21, 2013 Alternatively they might be doing us a favour. Depressing times. No, they really are not. It is anything but a ******* favour pal. It may be what we need in order to keep going but it is certainly not a ducking favour to pay 100k less on a debt due to the receiver being skint. Link to comment Share on other sites More sharing options...
Gambo Posted February 21, 2013 Share Posted February 21, 2013 Hopefully getting cash in to pay off McGlynn. Link to comment Share on other sites More sharing options...
Francis Albert Posted February 21, 2013 Share Posted February 21, 2013 Can't help thinking about how much our current shirt sponsers would have charged for a 3 month loan on 400K, surely no where near 100K. Yes nowhere near 100k. More like a few million at their interest rates. Link to comment Share on other sites More sharing options...
Guest Bilel Mohsni Posted February 21, 2013 Share Posted February 21, 2013 How do you know Hearts never approached them and made a deal? Shall we just give them it back and go bust then to save face? I'm 100% certain we did approach them... Galling as it is. Link to comment Share on other sites More sharing options...
Dazo Posted February 21, 2013 Share Posted February 21, 2013 No, they really are not. It is anything but a ******* favour pal. It may be what we need in order to keep going but it is certainly not a ducking favour to pay 100k less on a debt due to the receiver being skint. The debt isn't actually due yet. Link to comment Share on other sites More sharing options...
Guest Bilel Mohsni Posted February 21, 2013 Share Posted February 21, 2013 The debt isn't actually due yet. I know. Link to comment Share on other sites More sharing options...
Paolo Posted February 21, 2013 Share Posted February 21, 2013 Can't help thinking about how much our current shirt sponsers would have charged for a 3 month loan on 400K, surely no where near 100K. Less than my bank would for my overdraft. Link to comment Share on other sites More sharing options...
Heres Rixxy Posted February 21, 2013 Share Posted February 21, 2013 Can't help thinking about how much our current shirt sponsers would have charged for a 3 month loan on 400K, surely no where near 100K. You're right; it would have been more like 800k. Link to comment Share on other sites More sharing options...
Bowmans_Boot Posted February 21, 2013 Share Posted February 21, 2013 Hopefully getting cash in to pay off McGlynn. Yeah, the Manager is the biggest issue Hearts face right now... Link to comment Share on other sites More sharing options...
The Real Maroonblood Posted February 21, 2013 Share Posted February 21, 2013 I'm tempted to go with the latter.... Sounds awfully like a panic decision. We can't afford to lose ?100k so there must be immediate and pressing problems which made them take this decision. Probably Hearts have shit themselves. Link to comment Share on other sites More sharing options...
Cut The Crap Posted February 21, 2013 Share Posted February 21, 2013 Anyone who thinks 400k we are getting now is being kept for May has chucked it. Like everything at this club, they've probably barely thought about that and will make it up as they go along. Correct. Link to comment Share on other sites More sharing options...
Dazo Posted February 21, 2013 Share Posted February 21, 2013 I know. So there is the favour. Yeah they are getting a dam good deal out of this but they could have sat back and watch us die. Link to comment Share on other sites More sharing options...
Footballfirst Posted February 21, 2013 Share Posted February 21, 2013 It can only be viewed as another ominous sign that the anticipated shortfall has not been closed or that expectations of income from STs has fallen with the uncertainty around Ukio Bankas' collapse. There are all sorts of possibilities of what the pressing need for cash now is. My hunch is that we only met last months wages by delaying PAYE/NIC/VAT once again. One of the conditions of HMRC agreeing the staged payments on the ?1.5M was that were were up to date with their payments. It may be that the ?400K will therefore be destined for the taxman. However it then leaves another hole of ?500K in the summer as that sum must have been included in income forecasts going forward. It is again looking decidedly dodgy whether or not the club will get to the end of the season far less start next season without further alarms. Link to comment Share on other sites More sharing options...
Zachearts Posted February 21, 2013 Share Posted February 21, 2013 Nobody knows what the money will be used for and if we made the call or not......dont suppose we will find out either. Link to comment Share on other sites More sharing options...
Guest Bilel Mohsni Posted February 21, 2013 Share Posted February 21, 2013 So there is the favour. Yeah they are getting a dam good deal out of this but they could have sat back and watch us die. I don't see that as a favour. It's beneficial to them... Ergo not what I would class as a favour. Giving them far more credit than they deserve for opportunisticly picking peanuts out of poo. Link to comment Share on other sites More sharing options...
Dazo Posted February 21, 2013 Share Posted February 21, 2013 I don't see that as a favour. It's beneficial to them... Ergo not what I would class as a favour. Giving them far more credit than they deserve for opportunisticly picking peanuts out of poo. Obviously it is beneficial to us aswell ? Link to comment Share on other sites More sharing options...
Gregory House M.D. Posted February 21, 2013 Share Posted February 21, 2013 Club has a ?300-400k shortfall to plug accepts ?400k on the spot instead of ?500k when it's too late Shockeroonie. Link to comment Share on other sites More sharing options...
Guest Bilel Mohsni Posted February 21, 2013 Share Posted February 21, 2013 Obviously it is beneficial to us aswell ? Yes it obviously must be. It is far from being what I would class as a favour though. Link to comment Share on other sites More sharing options...
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