Hibernian FC and their debts

[kimosavi]

Our neighbours aren't so squeeky clean when it comes to paying back their own debts 

 

Please discuss 

 

Duff, Avon Inns, uk tax payers bank to name a few 

 

Please discuss 

 

 

 

 

 

Edited November 16, 2018 by kimosavi

[Psychedelicropcircle]

Neill Lennon owes me a pound. FACT!

[Kiwidoug]

5 minutes ago, Psychedelicropcircle said:

Neill Lennon owes me a pound. FACT!

?

[The Future's Maroon]

Let’s not be like them and worry about their finances, we’re better than that.

 

 

[kimosavi]

6 minutes ago, Psychedelicropcircle said:

Neill Lennon owes me a pound. FACT!

???

[kimosavi]

Just now, The Future's Maroon said:

Let’s not be like them and worry about their finances, we’re better than that.

 

 

I'm no worried at all but it would be informative for us all to know how much they haven't paid back over the last 30 years themselves 

[jamboozy]

8 minutes ago, Psychedelicropcircle said:

Neill Lennon owes me a pound. FACT!

? did you aim for his jacket ? 

[Kiwidoug]

Am I right in saying that thanks to their previous inability to meet bank interest payments they now are prohibited from taking out bank loans?  This is indeed is why they are known in financial circles as bankdefaulters United..

 

Surely not.  Boston would turn in his caravan.

[kimosavi]

4 million owed by Hibs for the failed venture in buying Avon Inns through David Duff 

 

5 million owed to RBS 

 

That's 9 million  

[kimosavi]

Just now, Kiwidoug said:

Am I right in saying that thanks to their previous inability to meet bank interest payments they now are prohibited from taking out bank loans?  This is indeed is why they are known in financial circles as bankdefaulters United..

 

Surely not.  Boston would turn in his caravan.

Read this somewhere before unsure if true..Farmer is their only avenue to borrow money and he always charges interest

[Seymour M Hersh]

I opened this thinking there was a genuine story abut massive debt at fester road. Instead it's a fishing expedition. Pity. 

[EastSideJambo]

20 minutes ago, Kiwidoug said:

Am I right in saying that thanks to their previous inability to meet bank interest payments they now are prohibited from taking out bank loans?  This is indeed is why they are known in financial circles as bankdefaulters United..

 

Surely not.  Boston would turn in his caravan.

Probably not a route that we should go in order to gloat. Banks have been badly burnt through numerous ill fated interactions with Scottish football clubs 

[Haken]

35 minutes ago, The Future's Maroon said:

Let’s not be like them and worry about their finances, we’re better than that.

 

 

This.

 

[Rudy T]

43 minutes ago, kimosavi said:

Our neighbours aren't so squeeky clean when it comes to paying back their own debts 

 

Please discuss 

 

Duff, Avon Inns, uk tax payers bank to name a few 

 

Please discuss 

 

 

 

 

 

 

All they really need to remember is it was a Hearts chairman that exposed the debt followed by Hearts fan who started hands off hibs....without both I doubt hibs would be here.

 

As regards debt, for as long as Rod has his tache in that boardroom they’ll be financially secure, the problem for them was the succession of shite managers he employed and the buttons he made available for transfers.

 

Grudgingly we both have to admit the Edinburgh teams are well run clubs now. Where bragging rights come into play is FoH vs the Ponzi scheme... £120,000 per month vs £2.50 per month

[Jamboelite]

I do find it amazing they can talk about cheating poppy thieves yet they just ****ed the bank over for £5m and had their own issues with Duff, apparently Farmer bought all the debt though so its ok (no he didnt he bought the football debt and let the rest burn).

[Joey J J Jr Shabadoo]

Just now, Jamboelite said:

I do find it amazing they can talk about cheating poppy thieves yet they just ****ed the bank over for £5m and had their own issues with Duff, apparently Farmer bought all the debt though so its ok (no he didnt he bought the football debt and let the rest burn).

****ed about with the lives of the Avon inns employees. The two jailbirds at hibs were, and still are, utter scum. 

[SUTOL]

From an EN article linked on another thread.

 

"Edinburgh Hibernian PLC went into liquidation in 1991. Farmer reconstituted the club. “The club was on the stock exchange only that one time,” recalls Farmer. “It came back into private ownership when I came along. But what I did, everybody who had shares with Hibs, I gave them equivalent shares in the new format. So if someone had bought 100 shares and lost their money, what they got was a 100 shares in the new format – the original club people had bought shares in went into liquidation. There was a new club."

 

 

Did they apply for a new club licence and re-apply for the league after being liquidated? 

 

Why did they not have to start at the bottom again like (The)Rangers tribute act?

 

 

https://www.edinburghnews.scotsman.com/our-region/edinburgh/on-this-day-the-public-flotation-that-almost-destroyed-hibs-1-4809026

Edited November 16, 2018 by SUTOL
edit to add EN link.

[TyphoonJambo]

1 hour ago, Psychedelicropcircle said:

Neill Lennon owes me a pound. FACT!

Shouldn’t admit it it but that made me spit out my coffee.

[Jamboelite]

5 minutes ago, Joey J J Jr Shabadoo said:

****ed about with the lives of the Avon inns employees. The two jailbirds at hibs were, and still are, utter scum. 

Yet they revel in WM’s death but had it not been for him these two ****ers would have destroyed it all.

[Joey J J Jr Shabadoo]

5 minutes ago, Jamboelite said:

Yet they revel in WM’s death but had it not been for him these two ****ers would have destroyed it all.

Think one of them spends his time in and out of jail, for various con tricks. 

 

Edited https://www.google.co.uk/amp/s/www.edinburghnews.scotsman.com/news/court-date-for-ex-hibs-chief-1-3978297/amp

 

Edited November 16, 2018 by Joey J J Jr Shabadoo

[the general]

42 minutes ago, EastSideJambo said:

Probably not a route that we should go in order to gloat. Banks have been badly burnt through numerous ill fated interactions with Scottish football clubs 

 

No sympathy for the banks I'm afraid

[FarmerTweedy]

35 minutes ago, JamboFulton said:

 

 

Throw enough poop at a wall and some will stick (apparently). Seems this is more a case of flinging poop at poop, I read the thread for the same reason. Although it probably is just a matter of time before they come begging for help financially and after the way their fans acted during Hearts admin spell I hope everyone puts any money they would have contemplated giving them into either the FoH or donate it to a poppy charity. Or if any Jambos own a printing press we could really GIRFUT by leaving burnt fake £20 notes all around fester ?‍♂️ they’d probably still try and use them though. 

If they did ever get into serious bother again, I think I'd be actively looking for (legal!) ways to actually cost them more money!  I'm thinking things like whether there would be a way to donate, say, a penny to them and have it cost them more than that in bank charges, etc.

[gorgie rd eh11]

40 minutes ago, SUTOL said:

From an EN article linked on another thread.

 

"Edinburgh Hibernian PLC went into liquidation in 1991. Farmer reconstituted the club. “The club was on the stock exchange only that one time,” recalls Farmer. “It came back into private ownership when I came along. But what I did, everybody who had shares with Hibs, I gave them equivalent shares in the new format. So if someone had bought 100 shares and lost their money, what they got was a 100 shares in the new format – the original club people had bought shares in went into liquidation. There was a new club."

 

 

Did they apply for a new club licence and re-apply for the league after being liquidated? 

 

Why did they not have to start at the bottom again like (The)Rangers tribute act?

 

 

https://www.edinburghnews.scotsman.com/our-region/edinburgh/on-this-day-the-public-flotation-that-almost-destroyed-hibs-1-4809026

 

 

 Liquidated.

 

 Liquidated.

 

 Liquidated.

[manaliveits105]

Weren’t they the first club to go bust in the 19th century as well 

The The Hibernian FC 

[Zico]

Using H1B5 logic, they’re basically the reason that Scottish kids have to use food banks. Poverty profiteers. 

[haj]

Unless someone with serious money decides to take over Hibs and threatens to challenge our various records against them, I simply could not give a single **** about their finances. 

[@VladMagic]

Hibernian FC as a club, owe, us HMFC as a club a massive favour.

 

We took our foot off the gas for the last 20 mins.

 

[luckydug]

1 hour ago, kimosavi said:

I'm no worried at all but it would be informative for us all to know how much they haven't paid back over the last 30 years themselves 

When I opened this thread I thought there had been some nice new juicy scandal about them.

Old news and boring.

[Ron Burgundy]

1 hour ago, FarmerTweedy said:

If they did ever get into serious bother again, I think I'd be actively looking for (legal!) ways to actually cost them more money!  I'm thinking things like whether there would be a way to donate, say, a penny to them and have it cost them more than that in bank charges, etc.

Nasty, sneaky and clever.

I'm in.

[Jocam2325]

2 hours ago, kimosavi said:

I'm no worried at all but it would be informative for us all to know how much they haven't paid back over the last 30 years themselves 

Why?  Rise above their nonsense

[Lord Beni of Gorgie]

2 hours ago, Psychedelicropcircle said:

Neill Lennon owes me a pound. FACT!

I think you are just going to have to take that on the chin. 

[@VladMagic]

17 minutes ago, Sir Gio said:

I think you are just going to have to take that on the chin. 

 

Nice

[Crete]

They have greenginger are we having our own maroon ginger the financial wizard.

[hughesie27]

They agreed a pence in the £ deal with a UK taxpayer owned bank to re-structure their debt costing te UK taxpayers millions.

 

This was only a few years ago.

[martoon]

3 hours ago, Psychedelicropcircle said:

Neill Lennon owes me a pound. FACT!

 

10/10 

 

 

[i8hibsh]

3 hours ago, Psychedelicropcircle said:

Neill Lennon owes me a pound. FACT!

 

 

You thug. Padded coat tails feel pain too you know!

[martoon]

40 minutes ago, Crete said:

They have greenginger are we having our own maroon ginger the financial wizard.

 

"Just happen" to walk along Albion Road everyday, thoroughly pump a construction worker/site manager for exclusive info, then scuttle home to the bedsit to share the findings online.

 

To then read replies like "you're providing a valuable service, Maroonginger, keep up the good work" would make it all seem worthwhile.

 

Any volunteers?

[millerjames398]

4 hours ago, jamboozy said:

? did you aim for his jacket ? 

I thought he was aiming for garry Parkers empty Starbucks cup..?

[Clark Griswold]

1 hour ago, martoon said:

 

"Just happen" to walk along Albion Road everyday, thoroughly pump a construction worker/site manager for exclusive info, then scuttle home to the bedsit to share the findings online.

 

To then read replies like "you're providing a valuable service, Maroonginger, keep up the good work" would make it all seem worthwhile.

 

Any volunteers?

Nah, we wont have anyone sad enough to dedicate their life to the financial ins and outs of another club tbh... or would we?

 

hmmmmm.

[Rudy T]

9 minutes ago, Clark Griswold said:

Nah, we wont have anyone sad enough to dedicate their life to the financial ins and outs of another club tbh... or would we?

 

hmmmmm.

 

I'm planning the next 10 years of my life around it....I’ll make all documentation available for a tenner to everyone on jkb...once I get off my boat!

[Herbert.]

1 hour ago, martoon said:

 

"Just happen" to walk along Albion Road everyday, thoroughly pump a construction worker/site manager for exclusive info, then scuttle home to the bedsit to share the findings online.

 

To then read replies like "you're providing a valuable service, Maroonginger, keep up the good work" would make it all seem worthwhile.

 

Any volunteers?

 

 

Do we have to pump construction workers? 

[wavydavy]

Part of a very lengthy statement made by Dempster just after she took over the role of CEO, clearly from this we can all see that she is well suited to their mentality towards what is right and wrong and it is no surprise that some of their fans have a similar approach to hers. I think it is clear that the person in charge sets the tone for the fans attitudes and albeit she and Ann Budge may claim to have a good working relationship I believe their is a considerable gulf betweeen their genuine beliefs on what is right and what is wrong.

 

We are a Club that pays our bills, we meet our obligations from our revenues.  A huge part of that is feeding the football operation and the people that make it work – players and all.  We had a mortgage to the Bank for the last 16 years and up until very recently we’ve been repaying that mortgage, but as you know, the bank is now out of the picture and we have a new mortgage with the Holding Company that is better and more affordable, and that allows us to plan cash flow with more certainty. That means with your support, importantly I’ll say that again, with the support of the fan base at large, we can deliver our football plan and grow the Club.

Paying our debts is the right thing to do – restructuring and refinancing was the smart thing to do.

To summarise, thanks to the support of the holding company we now have a total debt of £5m as opposed to £9.3m and are free of bank debt.  We don’t have large payments just a few years away on the horizon and we feel confident about the future ahead.

Edited November 16, 2018 by wavydavy

[martoon]

1 hour ago, Herbert said:

 

 

Do we have to pump construction workers? 

 

Yes. The other Village People know nothing about building main stands. 

[Jaap's Sigh]

1 hour ago, wavydavy said:

Part of a very lengthy statement made by Dempster just after she took over the role of CEO, clearly from this we can all see that she is well suited to their mentality towards what is right and wrong and it is no surprise that some of their fans have a similar approach to hers. I think it is clear that the person in charge sets the tone for the fans attitudes and albeit she and Ann Budge may claim to have a good working relationship I believe their is a considerable gulf betweeen their genuine beliefs on what is right and what is wrong.

 

We are a Club that pays our bills, we meet our obligations from our revenues.  A huge part of that is feeding the football operation and the people that make it work – players and all.  We had a mortgage to the Bank for the last 16 years and up until very recently we’ve been repaying that mortgage, but as you know, the bank is now out of the picture and we have a new mortgage with the Holding Company that is better and more affordable, and that allows us to plan cash flow with more certainty. That means with your support, importantly I’ll say that again, with the support of the fan base at large, we can deliver our football plan and grow the Club.

Paying our debts is the right thing to do – restructuring and refinancing was the smart thing to do.

To summarise, thanks to the support of the holding company we now have a total debt of £5m as opposed to £9.3m and are free of bank debt.  We don’t have large payments just a few years away on the horizon and we feel confident about the future ahead.

Surely an oxymoron right here!!

 

”We are a club who pay our bills.”

 

“We had a mortgage to the Bank for the last 16 years and up until very recently we’ve been repaying that mortgage, but as you know, the bank is now out of the picture and we have a new mortgage with the Holding Company that is better and more affordable, and that allows us to plan cash flow with more certainty.”

 

“Paying our debts is the right thing to do – restructuring and refinancing was the smart thing to do.”

 

 

 

[Jambo dans les Pyrenees]

I think we should try and buy them again.

 

Half a million a quarter from the FOH (**** Off Hibs), it won’t take long.,  

 

Leave Fester to rot for a decade or so like the rotting corpse that it is, then sell it for housing with only the one clause, that the development be known as “Skaceland” with pre-ordained street names such as Barr Drive (he did), McGowan Close (he wasn’t, it was in), etc.

 

Drive these tramps into the ground.

[martoon]

1 hour ago, Clark Griswold said:

Nah, we wont have anyone sad enough to dedicate their life to the financial ins and outs of another club tbh... or would we?

 

hmmmmm.

 

1 hour ago, Rudy T said:

 

I'm planning the next 10 years of my life around it....I’ll make all documentation available for a tenner to everyone on jkb...once I get off my boat!

 

Amazing that he gave in depth analysis and predicted our doom everyday but anytime anything looked likely to blow his fantasies apart he was "incommunicado" on his yacht. 

[Jambo dans les Pyrenees]

7 minutes ago, martoon said:

 

 

Amazing that he gave in depth analysis and predicted our doom everyday but anytime anything looked likely to blow his fantasies apart he was "incommunicado" on his yacht. 

 

https://goo.gl/images/8ZpiLx

[martoon]

3 minutes ago, Queensland Jambo said:

 

https://goo.gl/images/8ZpiLx

 

?

[haveyouheard 22]

Hibs would have used theer windfall from the Dwarf shaggers cash cow and  the Lottery bonanza they had running  to keep the books intact..Its the Hobo way 

 

They know Hearts  are light yrs ahead of them now and its a sinking feeling thats become infectious down hoboland. as reality kicks in to those green  maggots .How sweet is that 

 

F T H 

[The Old Tolbooth]

One of them tried to argue with me that they'd paid off every single penny of debt from the Duff and Gray era, and that STF had cleared the lot, oh really? Is that why my cousins fella is still waiting on a few grand which nearly bankrupt him at the time for work carried out at the cesspit?