Hibernian FC and their debts

[SUTOL]

1 hour ago, Jaap's Sigh said:

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.”

 

 

 

 

Last sentence;

 

The right thing to do was pay the debt they agreed to do originally.

But they didn't do the right thing, they did the smart thing and got their parent company to restructure and refinance the debt. 

 

 

[SUTOL]

Oops, DP.

 

Edited November 16, 2018 by SUTOL

[wavydavy]

2 hours ago, Jaap's Sigh said:

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.”

 

 

 

 

The part that really got me was the total contradiction from saying they pay their bills and then suddenly they do this.

 

Quote: 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.

 

So what happened to the £4.3 m then Leanne? Oh you conveniently forgot to say that Uncle Tom managed to "blackmail" or as he would say negotiate with yours and his Bank to make this amount disappear. Sounds fair to me!!

 

I wonder what all the Bank customers thought of that one then.?

[The Old Tolbooth]

1 hour ago, jonnothejambo said:

 

Bet that stumped the gormless, vermin wank. 

 

He who cast the first stone etc....

 

They really are a shower of festering shit.

 

They just seem to think that they're holier than thou that lot, they really do, it's actually pathetic how short their memories are to be honest, it's as if they mentally block out everything bad that's ever happened to them, and only focus on the pittance of scraps of joy that they've been so pathetic at mustering over their pishy little history, they're one of the most pointless clubs that's ever been shat into existence to be honest. 

[Jaap's Sigh]

7 minutes ago, The Old Tolbooth said:

 

They just seem to think that they're holier than thou that lot, they really do, it's actually pathetic how short their memories are to be honest, it's as if they mentally block out everything bad that's ever happened to them, and only focus on the pittance of scraps of joy that they've been so pathetic at mustering over their pishy little history, they're one of the most pointless clubs that's ever been shat into existence to be honest. 

Sheer poetry mate. 

[andyscott82]

7 hours ago, hughesie27 said:

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.

I was arguing this point with a few thick vermin on Twitter a few months ago - they didn't like it when it was pointed out to them that it was administration in all but name. 

 

"But, but we arranged an early repayment deal for our mortgage"

 

The scary thing is they actually believe that, and don't realise (or refuse to admit) that what the bank actually did was write it off as bad debt. 

Edited November 16, 2018 by andyscott82

[Brave Hearts]

So, with the hobos being liquidated  In 1991 and, in the words of Farmer, he then set up a new club, surely their club badge should have 1991 on it and not 1875.

[Victorian]

The Duff & Gray thing doesn't count because there was nothing the club and fans could do about it... I was told.

 

Completely different to us allowing Romanov to do whatever he wanted.

 

Seriously.    This is a genuine Hibern-o-fairytale I was treated to.

[El Diez]

Wankers.

 

All of them.

 

 

[Boof]

Unless they're playing Hearts or in a match that could affect Hearts, I couldn't give a shiny shite about that tinpot rabble.

[Rudolf]

19 minutes ago, Brave Hearts said:

So, with the hobos being liquidated  In 1991 and, in the words of Farmer, he then set up a new club, surely their club badge should have 1991 on it and not 1875.

Hibernians started in 1875 won a cup and then packed in when Celtic took their players. A new club was formed in 1892, so that’s their start date

[gorgie rd eh11]

31 minutes ago, Rudolf said:

Hibernians started in 1875 won a cup and then packed in when Celtic took their players. A new club was formed in 1892, so that’s their start date

 

 

 So they should have 1875, 1892 and 1991 on their badge. 

[haveyouheard 22]

3 minutes ago, gorgie rd eh11 said:

 

 

 So they should have 1875, 1892 and 1991 on their badge. 

and 114 

[andi17]

1 hour ago, Queensland Jambo said:

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.

Fek the housing build a big massive Tesco on it

[andi17]

Just now, Victorian said:

The Duff & Gray thing doesn't count because there was nothing the club and fans could do about it... I was told.

 

Completely different to us allowing Romanov to do whatever he wanted.

 

Seriously.    This is a genuine Hibern-o-fairytale I was treated to.

Brilliant they do actually live in a parallel universe 

[Rudy T]

51 minutes ago, Rudolf said:

Hibernians started in 1875 won a cup and then packed in when Celtic took their players. A new club was formed in 1892, so that’s their start date

 

And the only reason they got back in the league was because Hearts agree to play them, no one else would. So they can count that as another time we saved their shitshow

[Kiwidoug]

1 hour ago, El Diez said:

Wankers.

 

All of them.

 

 

Splendid.  Economical and completely accurate.

 

Why waste words.

[Gizmo]

1 hour ago, Brave Hearts said:

So, with the hobos being liquidated  In 1991 and, in the words of Farmer, he then set up a new club, surely their club badge should have 1991 on it and not 1875.

 

I think what Farmer did was set-up a new holding company, issue like for like shares, moved the club over to the new parent company and let the old one go bust.

No idea how much debt this disposed of. 

[WorldChampions1902]

1 hour ago, Rudolf said:

Hibernians started in 1875 won a cup and then packed in when Celtic took their players. A new club was formed in 1892, so that’s their start date

I'd be interested to know which of these two Victorian-era clubs had the notorious Hibernians Treasurer at their "holier than thou" financial helm when he bolted to Canada with the Church Poor-Fund in his pockets? It's unimaginable how much suffering was inflicted on many, many Edinburgh citizens as a result of this despicable crime.

 

Anyone know?

[gorgie rd eh11]

19 minutes ago, WorldChampions1902 said:

I'd be interested to know which of these two Victorian-era clubs had the notorious Hibernians Treasurer at their "holier than thou" financial helm when he bolted to Canada with the Church Poor-Fund in his pockets? It's unimaginable how much suffering was inflicted on many, many Edinburgh citizens as a result of this despicable crime.

 

Anyone know?

 

 

 Another piece of their glorious history buried as deep as their liquidations.

[queensferryjambo]

Whether they don't pay their debts or pay in full doesn't change my incredibly low opinion of them. Their fans obsession with our finances is pathetic and absolute Hibs behaviour so why waste our time caring about them.

 

I only care if we can beat them on the park.  That's what counts.

[gorgie rd eh11]

4 minutes ago, queensferryjambo said:

Whether they don't pay their debts or pay in full doesn't change my incredibly low opinion of them. Their fans obsession with our finances is pathetic and absolute Hibs behaviour so why waste our time caring about them.

 

I only care if we can beat them on the park.  That's what counts.

  

It is absolute hibs behaviour, that's the point.

 

[Rudolf]

48 minutes ago, Rudy T said:

 

And the only reason they got back in the league was because Hearts agree to play them, no one else would. So they can count that as another time we saved their shitshow

Exactly. 

 

Ungrateful tossers?

[haveyouheard 22]

I love this stuff have a Hobo at work who will now be owned forever with these facts 

[Jingle Bells]

Signing Archibald and Houchen when getting sub 10k crowds

[El Diez]

8 minutes ago, Jingle Bells said:

Signing Archibald and Houchen when getting sub 10k crowds

And still being ****in shit.

[Nelly Terraces]

They're pulling in decent numbers & have a bit of feelgood factor at the moment off the back of the cup win & no longer being our almost constant bitches. However, a leopard doesn't change it spots & already the cracks are beginning to show on the field & once things slide at the vermin the support soon scuttle away leaving a hardcore of around 10K. Wasn't that long back that's all they were pulling in & for my lifetime their support has been weak & spineless. 

 

When it all starts to go belly up, (while we're still getting 16 to 18K for run of the mill games) they'll be down at around 11 or 12K if they're lucky. The hobo cashflow will be down to a trIckle. Let's see how good you are at 'paying your debts' then shall we Leanne.

[haveyouheard 22]

Leanne licks then squirts 

[Beast Boy]

10 minutes ago, Nelly Terraces said:

They're pulling in decent numbers & have a bit of feelgood factor at the moment off the back of the cup win & no longer being our almost constant bitches. However, a leopard doesn't change it spots & already the cracks are beginning to show on the field & once things slide at the vermin the support soon scuttle away leaving a hardcore of around 10K. Wasn't that long back that's all they were pulling in & for my lifetime their support has been weak & spineless. 

 

When it all starts to go belly up, (while we're still getting 16 to 18K for run of the mill games) they'll be down at around 11 or 12K if they're lucky. The hobo cashflow will be down to a trIckle. Let's see how good you are at 'paying your debts' then shall we Leanne.

 

Indeed. They are still paying £500k a season to Farmer for the next half a decade too.

[Bighenry]

Hibs conveniently forget their  debts like they do their world worst  derby record .. FTH  

[gjcc]

8 hours ago, Queensland Jambo said:

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.

 

Ann Budge Loan: cul de sac, right at the heart of the scheme, with a monumental turning point. 

[luckydug]

31 minutes ago, Nelly Terraces said:

They're pulling in decent numbers & have a bit of feelgood factor at the moment off the back of the cup win & no longer being our almost constant bitches. However, a leopard doesn't change it spots & already the cracks are beginning to show on the field & once things slide at the vermin the support soon scuttle away leaving a hardcore of around 10K. Wasn't that long back that's all they were pulling in & for my lifetime their support has been weak & spineless. 

 

When it all starts to go belly up, (while we're still getting 16 to 18K for run of the mill games) they'll be down at around 11 or 12K if they're lucky. The hobo cashflow will be down to a trIckle. Let's see how good you are at 'paying your debts' then shall we Leanne.

They will never admit to their support dropping off.

Their turnover suggests that their income doesn't stack up with their supposed gates.

I've never believed their attendance figures since the 2006 SF at Hampden. Before the event they told us they had sold all their tickets. The evidence of their lies was there for all to see as it is nowadays when you see their games on TV.

They hate being the wee team and will do everything to deny it.

[WorldChampions1902]

2 hours ago, queensferryjambo said:

Whether they don't pay their debts or pay in full doesn't change my incredibly low opinion of them. Their fans obsession with our finances is pathetic and absolute Hibs behaviour so why waste our time caring about them.

 

I only care if we can beat them on the park.  That's what counts.

I don't believe that anyone "cares" about Vermin finances. I most certainly do not. Having said that, I will not tolerate Vermin Hibocrisy, especially when they attack our club on our financial matters. The history books show that THEY were pioneers in financial misdemeanours, setting the tone for other football clubs to follow THEIR lead.

 

Oh btw , I'm astonished that nobody has pointed out that we loaned them a few players when they were certainties for relegation. With a handful of games left that season, our players turned round their results and the Vermin avoided relegation by a whisker. Their response? They dug our graves and tried to bury us. I shall never forget. None of us should ever forget.

[Brave Hearts]

18 minutes ago, WorldChampions1902 said:

I don't believe that anyone "cares" about Vermin finances. I most certainly do not. Having said that, I will not tolerate Vermin Hibocrisy, especially when they attack our club on our financial matters. The history books show that THEY were pioneers in financial misdemeanours, setting the tone for other football clubs to follow THEIR lead.

 

Oh btw , I'm astonished that nobody has pointed out that we loaned them a few players when they were certainties for relegation. With a handful of games left that season, our players turned round their results and the Vermin avoided relegation by a whisker. Their response? They dug our graves and tried to bury us. I shall never forget. None of us should ever forget.

 

With all the Hibocricsy they spout, and with all the Hibermyths they proclaim, they should be in permanent Hibernation.

 

Ironically the twice they have ceased to exist in 1891 and 1991 it was our club that offered them levels of support towards their re-existence.

 

When we were trying to recover from administration, was there any assistance or support from them ?

 

None at all. In fact they were trying everything they could do to stop us rebuilding ourselves.

 

Speaks volumes about their vindictive nature and their inconsiderate bitterness.

 

[Doctor FinnBarr]

11 hours ago, Herbert said:

 

 

Do we have to pump construction workers? 

 

Well.......i'd rattle the blonde that buried the Hearts shirt under their East stand

 

[martoon]

2 hours ago, Jingle Bells said:

Signing Archibald and Houchen when getting sub 10k crowds

 

Indeed. 

 

They "cheated" to win 3 derbies out of 45. 

[Spellczech]

First at many things IIRC - including first to be liquidated. Hibs are pathetic.

[queensferryjambo]

6 hours ago, WorldChampions1902 said:

I don't believe that anyone "cares" about Vermin finances. I most certainly do not. Having said that, I will not tolerate Vermin Hibocrisy, especially when they attack our club on our financial matters. The history books show that THEY were pioneers in financial misdemeanours, setting the tone for other football clubs to follow THEIR lead.

 

 

Hibocrisy - Love it  

 

I always like to say they talk Hibberish.....

[Kiwidoug]

51 minutes ago, queensferryjambo said:

 

 

Hibocrisy - Love it  

 

I always like to say they talk Hibberish.....

Hibberish.  Tremendous.

[Disco Dave]

14 hours ago, wavydavy said:

 

The part that really got me was the total contradiction from saying they pay their bills and then suddenly they do this.

 

Quote: 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.

 

So what happened to the £4.3 m then Leanne? Oh you conveniently forgot to say that Uncle Tom managed to "blackmail" or as he would say negotiate with yours and his Bank to make this amount disappear. Sounds fair to me!!

 

I wonder what all the Bank customers thought of that one then.?

They conveniently gloss over this fact with all their whiter than white talk over there. Those poor Lithuanian pensioners, poppy thieves chat etc etc

 

They basically told (the at the time tax payer owned) HBOS, take the haircut or we’ll be next to go into Admin and you’ll get nothing. 

[kimosavi]

14 hours ago, Rudolf said:

Hibernians started in 1875 won a cup and then packed in when Celtic took their players. A new club was formed in 1892, so that’s their start date

Also wipes out their 1st Scottish cup win 

[kimosavi]

9 hours ago, Brave Hearts said:

 

With all the Hibocricsy they spout, and with all the Hibermyths they proclaim, they should be in permanent Hibernation.

 

Ironically the twice they have ceased to exist in 1891 and 1991 it was our club that offered them levels of support towards their re-existence.

 

When we were trying to recover from administration, was there any assistance or support from them ?

 

None at all. In fact they were trying everything they could do to stop us rebuilding ourselves.

 

Speaks volumes about their vindictive nature and their inconsiderate bitterness.

 

I can remember the Hands off Hibs day at Fester Road. There were around 6000 fans there. Pitifull support in a doomsday scenario. 

 

We outsmart and outmatch them in every scenario 

[obua]

10 hours ago, bikerjambo said:

 

Well.......i'd rattle the blonde that buried the Hearts shirt under their East stand

 

She looked a bit “dirty”.

[Jingle Bells]

Their collection buckets were doing the rounds in the Gorgie pubs in the late 1920s early 1930's, when they were about to go bust then, according to my Late Grandfather. He never gave them a penny though,being a PHM.

[Jingle Bells]

11 hours ago, El Diez said:

And still being ****in shit.

LOL

[wavydavy]

2 hours ago, Disco Dave said:

They conveniently gloss over this fact with all their whiter than white talk over there. Those poor Lithuanian pensioners, poppy thieves chat etc etc

 

They basically told (the at the time tax payer owned) HBOS, take the haircut or we’ll be next to go into Admin and you’ll get nothing. 

I think Farmer threatened to move his business from their Bank as well so they would not want to lose that and most of the Banks wanted out of lending to Football clubs which was another incentive.

[haveyouheard 22]

One of the many things I love about this thread  is you just know plenty Hobos will be reading it and seething, lovely stuff I say 

[wavydavy]

4 minutes ago, haveyouheard 22 said:

One of the many things I love about this thread  is you just know plenty Hobos will be reading it and seething, lovely stuff I say 

 

They wont understand as there are too many big joined up words.

[jamboscott]

22 hours ago, Rudolf said:

Hibernians started in 1875 won a cup and then packed in when Celtic took their players. A new club was formed in 1892, so that’s their start 

Correct, they are pretty much the original sevco.  Claiming a scottish cup that belongs to another team. This Hibs side were reformed from a tribute act in 1892 named Leith Hibernian. The dead clubs players left to play for Celtic as financial miss management left them woth no home and players move due to the uncertainty. 

[1971fozzy]

They shafted the bank for £4.3 million. 

wrote it off. Simple counter to all their shite they spout.