OTT Posted May 28, 2020 Share Posted May 28, 2020 38 minutes ago, eyesandears said: Surely we listen to what he's got to say? Why does he want to by us, how much is he willing to invest that we can't invest through our own means, what % does he want to take 10%, 25%. 49%, 51%, 75%, 100%? Each shapes our response. Ann Budge and the benefactors will be gone at some point and I hope the FoH Board are more open minded to potential investors than some of the comments above. Remember it's under Ann Budge and FoH that we're heading for the Championship assisted by a large slice of skulduggery along the way. I'm not saying he's the guy for us but we can't start being a closed minded members group or our club will be goosed and I say that as an FoH member. Said on the other thread that the foundation could perhaps look at some sort of 50+1 rule similar to what they have in Germany. This would allow outside investment whilst ensuring the club remains totally still in control of by FOH. Perhaps an increased version like 75% where overwhelming control sits with the FOH. I'm not sure the legal details if its something we as a club could carve into our terms as an organisation, or if we could petition the league to denote some sort of rule like that for clubs that want to market themselves as fan owned (to ensure it can't be reversed by a third party looking to take control). Obviously taking outside money comes with a lot of risks, SMG and that debacle should sit in most peoples minds. Any investment the club takes should be entirely on the clubs terms - i.e someone who is investing in Hearts the football club, not Hearts the business. If someone comes along with a load of money with a clear plan and strategy to build the club up to rival the OF in size, then we'd be daft not to listen to them, but as a fundamental principle I don't think a penny should be taken unless the club remains majority fan owned - could even have them taking up the mantel of CEO similar to Budge. Making it substantially more than 50% ensures we can safely keep the club in fan hands, even if circumstances dictate selling shares to raise capital. I suspect we'll be looking at further stadium development in the not so distant future which would mean a real need to raise more money. Obviously the foundation does a fantastic job, but that main stand cost in excess of £20m. Outside investment would be needed if we were to redevelop another part of the ground, or acquire any of the land around Tynecastle. Whilst obviously the other stands would be less as facilities wouldn't be as numerous, we're still talking a multimillion pound development if we did want to expand any further. Quote Link to comment Share on other sites More sharing options...
eyesandears Posted May 28, 2020 Share Posted May 28, 2020 2 minutes ago, OTT said: Said on the other thread that the foundation could perhaps look at some sort of 50+1 rule similar to what they have in Germany. This would allow outside investment whilst ensuring the club remains totally still in control of by FOH. Perhaps an increased version like 75% where overwhelming control sits with the FOH. I'm not sure the legal details if its something we as a club could carve into our terms as an organisation, or if we could petition the league to denote some sort of rule like that for clubs that want to market themselves as fan owned (to ensure it can't be reversed by a third party looking to take control). Obviously taking outside money comes with a lot of risks, SMG and that debacle should sit in most peoples minds. Any investment the club takes should be entirely on the clubs terms - i.e someone who is investing in Hearts the football club, not Hearts the business. If someone comes along with a load of money with a clear plan and strategy to build the club up to rival the OF in size, then we'd be daft not to listen to them, but as a fundamental principle I don't think a penny should be taken unless the club remains majority fan owned - could even have them taking up the mantel of CEO similar to Budge. Making it substantially more than 50% ensures we can safely keep the club in fan hands, even if circumstances dictate selling shares to raise capital. I suspect we'll be looking at further stadium development in the not so distant future which would mean a real need to raise more money. Obviously the foundation does a fantastic job, but that main stand cost in excess of £20m. Outside investment would be needed if we were to redevelop another part of the ground, or acquire any of the land around Tynecastle. Whilst obviously the other stands would be less as facilities wouldn't be as numerous, we're still talking a multimillion pound development if we did want to expand any further. Good post. Good enough to post it twice 😉 And yes this is the sort of mid to long term thinking we need and investors to support FoH. Quote Link to comment Share on other sites More sharing options...
TurboT Posted May 28, 2020 Share Posted May 28, 2020 (edited) 9 minutes ago, annushorribilis III said: Would someone oblige me buy telling what the etiquette is when a prospective buyer comes along - given that FoH is supposed to be in ownership already , how does it work re prospective bidders ? Now & in the future ? I could be wrong but I'm sure it was take 95% of FoH Members to agree to the sale which makes it highly unlikely. Stuart Wallace spoke about this at a HMSA Shareholders meeting and he said that if we ever wanted to raise additional money by selling a stake in the club it would be hard due to the 95% rule. (I may be wrong as it was while ago and happy to be corrected). Edit - just checked my notes it's a 90%/10% majority required Edited May 28, 2020 by TurboT Quote Link to comment Share on other sites More sharing options...
upgotheheads Posted May 28, 2020 Share Posted May 28, 2020 Gillett is one of several parties in recent times to contact Hearts about potentially buying a stake in the club. this s the bit that interests me. Shows we have potential that's been spotted by others. All the more reason to tell them where to go. Quote Link to comment Share on other sites More sharing options...
annushorribilis III Posted May 28, 2020 Share Posted May 28, 2020 2 minutes ago, TurboT said: I could be wrong but I'm sure it was take 95% of FoH Members to agree to the sale which makes it highly unlikely. Stuart Wallace spoke about this at a HMSA Shareholders meeting and he said that if we ever wanted to raise additional money by selling a stake in the club it would be hard due to the 95% rule. (I may be wrong as it was while ago and happy to be corrected). Thanks - but specifically , it says the interest was knocked back by Hearts - who at Hearts ? And given that the club is already supposed to be in FoH hands were FoH involved in this "knock back" -or would/should FoH have been involved ? I'm not Quote Link to comment Share on other sites More sharing options...
Lord Beni of Gorgie Posted May 28, 2020 Share Posted May 28, 2020 50 minutes ago, The Old Tolbooth said: Jesus, keep this guy away from Hearts please, his father says all you need to know about him, absolute prick of a guy! If I was judged on my old man I'd be struggling Quote Link to comment Share on other sites More sharing options...
Coco Posted May 28, 2020 Share Posted May 28, 2020 Where did the effort by the FoH Board to make it easier to sell the club to an outside investor get to? They had an insecure email 'survey' but it has not yet been through an AGM or EGM? Quote Link to comment Share on other sites More sharing options...
trotter Posted May 28, 2020 Share Posted May 28, 2020 48 minutes ago, ExPatTam said: The guy has a reported net worth of $700,000,000 - we've surely got to listen. How do you make a small fortune owning a football club? Start with a large fortune... Quote Link to comment Share on other sites More sharing options...
Glamorgan Jambo Posted May 28, 2020 Share Posted May 28, 2020 Just for info these Gillet’s have never had anything to do with Gillette the razor/personal care products company (part of P&G now). They make money off sporting franchises and associated businesses. Delighted they’ve been told to bolt. Besides FOH what would our benefactor think if his years of support for HMFC ended up effectively in the pockets of some low rent grifters. Quote Link to comment Share on other sites More sharing options...
Pasquale for King Posted May 28, 2020 Share Posted May 28, 2020 His wealth is obviously alluring and the possibilities but there would need to be so many stipulations attached to the deal it would probably not appeal to him. Lots of Americans looking at buying into clubs in Scotland just now. Quote Link to comment Share on other sites More sharing options...
Pasquale for King Posted May 28, 2020 Share Posted May 28, 2020 2 minutes ago, Glamorgan Jambo said: Just for info these Gillet’s have never had anything to do with Gillette the razor/personal care products company (part of P&G now). They make money off sporting franchises and associated businesses. Delighted they’ve been told to bolt. Besides FOH what would our benefactor think if his years of support for HMFC ended up effectively in the pockets of some low rent grifters. Fair point, we’ve went down that route before, Hibs/Dundee or even Dundee United haven’t done much with US owners, and as for Man Utd well . . . . Quote Link to comment Share on other sites More sharing options...
Jamhammer Posted May 28, 2020 Share Posted May 28, 2020 Told to bolt and I’m glad he was. Quote Link to comment Share on other sites More sharing options...
Heartsmad1874 Posted May 28, 2020 Share Posted May 28, 2020 (edited) Edited May 28, 2020 by Heartsmad1874 Quote Link to comment Share on other sites More sharing options...
Hearts007 Posted May 28, 2020 Share Posted May 28, 2020 1 minute ago, Heartsmad1874 said: Quote Link to comment Share on other sites More sharing options...
Hearts007 Posted May 28, 2020 Share Posted May 28, 2020 Mr Gillette trying to dangle a carrot Quote Link to comment Share on other sites More sharing options...
Dagger Is Back Posted May 28, 2020 Share Posted May 28, 2020 Never ever again, should we be seduced by people like this. Interesting that the sharks are starting to circle. Folks like us have worked bloody hard to bring our club back from the brink. The club belongs to us as much as the city does. Quote Link to comment Share on other sites More sharing options...
FWJ Posted May 28, 2020 Share Posted May 28, 2020 Jeezo. I don’t look at JKB for 12 hours and this is what greets me. Club’s not for sale. It’s ours. Quote Link to comment Share on other sites More sharing options...
Rods Posted May 28, 2020 Share Posted May 28, 2020 For the older folk on the board we could get a banner for the next match with fans. Something along the lines of Anne Budge is a mado we want the man from Colorado Quote Link to comment Share on other sites More sharing options...
gashauskis9 Posted May 28, 2020 Share Posted May 28, 2020 2 hours ago, Bigteam said: FOH cant do it alone, that is proven by the fact we have a "secret" backer who puts in more money than everyone else combined! Although Gillet might not be the right guy we certainly need other additional investment Then he can invest in FOH like everyone else. The benefactor is supporting the day to day finances, FOH is not. Two different elements. Quote Link to comment Share on other sites More sharing options...
redjambo Posted May 28, 2020 Share Posted May 28, 2020 12 minutes ago, Dagger Is Back said: Never ever again, should we be seduced by people like this. Interesting that the sharks are starting to circle. Folks like us have worked bloody hard to bring our club back from the brink. The club belongs to us as much as the city does. This in spades. Quote Link to comment Share on other sites More sharing options...
Dunks Posted May 28, 2020 Share Posted May 28, 2020 (edited) 1 hour ago, Chuck Berry said: AFC Wimbledon are often cited as a good example of a fan owned club and that is fair, however the fans, via the Dons Trust, don't own 100% of the club. It's around 75%, the remainder is in private hands FOH are only taking over 75.1%, with the rest in private hands. Ann Budge the majority (of the remainder) and me a tiny wee bit Edited May 28, 2020 by Dunks Quote Link to comment Share on other sites More sharing options...
Ainsley Harriott Posted May 28, 2020 Share Posted May 28, 2020 Tell him hes welcome to sign up for the FOH and pump millions in via them if he likes Quote Link to comment Share on other sites More sharing options...
neilnunb Posted May 28, 2020 Share Posted May 28, 2020 https://www.thescottishsun.co.uk/sport/football/5644077/hearts-foster-gillett-foh-talks-acquire-club-significantly/ Quote Link to comment Share on other sites More sharing options...
Famous 1874 Posted May 28, 2020 Share Posted May 28, 2020 35 minutes ago, Dunks said: FOH are only taking over 75.1%, with the rest in private hands. Ann Budge the majority (of the remainder) and me a tiny wee bit Is the remaining 25% in individual hands as opposed to a company? Quote Link to comment Share on other sites More sharing options...
Famous 1874 Posted May 28, 2020 Share Posted May 28, 2020 No harm in talking to him and explaining the situation with the FOH. Wonder how much he would be willing to invest and for what percentage. Extremely likely he would want a decision making percentage. Quote Link to comment Share on other sites More sharing options...
redjambo Posted May 28, 2020 Share Posted May 28, 2020 3 minutes ago, Tambo_The_Jambo said: Mega pages of banter gone right there😞 Not at all. The OP was our wingman right from the off with his thread title. Banter away, chaps! Quote Link to comment Share on other sites More sharing options...
eyesandears Posted May 28, 2020 Share Posted May 28, 2020 14 minutes ago, Heartsmad1874 said: Over to Stuart Wallace then. Oh and that statement suggests the club and FoH haven't even replied. Surely not. Quote Link to comment Share on other sites More sharing options...
Morgan Posted May 28, 2020 Share Posted May 28, 2020 4 minutes ago, Tambo_The_Jambo said: Mega pages of banter gone right there😞 Alan Stubble thinks different, know what I mean? Quote Link to comment Share on other sites More sharing options...
David McCaig Posted May 28, 2020 Share Posted May 28, 2020 2 hours ago, GinRummy said: I doubt he’ll part with all that. That’s ok... half will do. Quote Link to comment Share on other sites More sharing options...
Morgan Posted May 28, 2020 Share Posted May 28, 2020 5 minutes ago, redjambo said: Not at all. The OP was our wingman right from the off with his thread title. Banter away, chaps! Just hope the wingman takes it on the chin. 🤷🏿♂️ Quote Link to comment Share on other sites More sharing options...
redjambo Posted May 28, 2020 Share Posted May 28, 2020 1 minute ago, Morgan said: Just hope the wingman takes it on the chin. 🤷🏿♂️ I'm sure he will do. He was only a whisker away from spelling it correctly. Quote Link to comment Share on other sites More sharing options...
Greedy Jambo Posted May 28, 2020 Share Posted May 28, 2020 "I'm looking to invest significantly" My ears perked up when i read that, i must admit. Imagine if he's talking in terms of English Premiership money 😲 We're all moaning about a 10 million stand doubling in price and he comes along with 100 million. Fantasy land perhaps. Quote Link to comment Share on other sites More sharing options...
Hearts007 Posted May 28, 2020 Share Posted May 28, 2020 Gillette seems to have caused a lot of BICkering Quote Link to comment Share on other sites More sharing options...
jamboozy Posted May 28, 2020 Share Posted May 28, 2020 I heard he was a close friend of George Bush. taxi called 😐 Quote Link to comment Share on other sites More sharing options...
Class of 75 Posted May 28, 2020 Share Posted May 28, 2020 I just googled him and apparently his family are worth $250 million. Quote Link to comment Share on other sites More sharing options...
Hearts007 Posted May 28, 2020 Share Posted May 28, 2020 (edited) We don't want him .He would probably trim the squad Edited May 28, 2020 by Hearts007 Quote Link to comment Share on other sites More sharing options...
neilnunb Posted May 28, 2020 Share Posted May 28, 2020 5 minutes ago, Class of 75 said: I just googled him and apparently his family are worth $250 million. What was the date of that? I saw that figure on a report from 2001. More recent figures are $700m (the dad) A tenth of that would do 😁 Quote Link to comment Share on other sites More sharing options...
neilnunb Posted May 28, 2020 Share Posted May 28, 2020 1 minute ago, Barack said: His Daddy is worth $700 million. Please tell me he's an only child 🙏 Quote Link to comment Share on other sites More sharing options...
OTT Posted May 28, 2020 Share Posted May 28, 2020 1 minute ago, Barack said: Course he would. He can piss off if he thinks we're some kind of Dragon's Den experiment. We've not pumped millions into the club, to negate precisely this type of mercenary looking for a hobby, only to drop them and lube up at the first hint of money. Phrases like "invest significantly." He'll move onto some mid-table English Championship side soon enough. Its maybe not a super PC view, but I have a perception of Americans as being very money orientated. After Robinson & Romanov leading to the brink of death, who you are matters just as much as what you can offer. If you're investing in a club like Hearts, its a labour of love, not a get rich quick scheme. We don't need to take his money. We have the FOH plus benefactors to manage the current situation. It doesn't sound like he's all that passionate about who he gets involved with, which concerns me too. He could have used this statement to set out why he wants involved but instead it was brief and pretty half arsed. It sounds like he just wants involved in a club rather than any particular one. A bunch of positives he could have used are: invest in the promising youth system, invest in infrastructure to help realise the clubs potential. recognising the club is a sleeping giant, untapped potential. Even just some cursory research of who we are. Instead it comes over as 'look at the money, look at the money, no don't ask why, just look at the money'. We just looked at the money with SMG and it blew up in our face. I'd be very cautious, his motives and expectations aren't clear and his family previous with Liverpool is obviously not encouraging. Quote Link to comment Share on other sites More sharing options...
Fire_At_The_Disco Posted May 28, 2020 Share Posted May 28, 2020 The fact that we are about to be fan owned could be a stubbling block Quote Link to comment Share on other sites More sharing options...
Class of 75 Posted May 28, 2020 Share Posted May 28, 2020 3 minutes ago, Barack said: His Daddy is worth $700 million. I stand corrected. 👍 Quote Link to comment Share on other sites More sharing options...
Class of 75 Posted May 28, 2020 Share Posted May 28, 2020 3 minutes ago, neilnunb said: What was the date of that? I saw that figure on a report from 2001. More recent figures are $700m (the dad) A tenth of that would do 😁 Defo 👍 Quote Link to comment Share on other sites More sharing options...
redjambo Posted May 28, 2020 Share Posted May 28, 2020 2 minutes ago, Tambo_The_Jambo said: The fact that we are about to be fan owned could be a stubbling block There are certainly some on here who say that we should at least listen to his offer while it's still available. After all, hair today, gone tomorrow! Quote Link to comment Share on other sites More sharing options...
neilnunb Posted May 28, 2020 Share Posted May 28, 2020 Just now, Barack said: Nope. 🤬 Quote Link to comment Share on other sites More sharing options...
Famous 1874 Posted May 28, 2020 Share Posted May 28, 2020 33 minutes ago, Barack said: Course he would. He can piss off if he thinks we're some kind of Dragon's Den experiment. We've not pumped millions into the club, to negate precisely this type of mercenary looking for a hobby, only to drop them and lube up at the first hint of money. Phrases like "invest significantly." He'll move onto some mid-table English Championship side soon enough. Agreed mate Quote Link to comment Share on other sites More sharing options...
Jambo-Fox Posted May 28, 2020 Share Posted May 28, 2020 3 hours ago, Chuck Berry said: AFC Wimbledon are often cited as a good example of a fan owned club and that is fair, however the fans, via the Dons Trust, don't own 100% of the club. It's around 75%, the remainder is in private hands (which was to raise capital for the purchase of Kingsmeadow years ago). They know the limitations that this creates, there's only so much money available. However, it's something they by and large accept. League One is probably their limit with an occasional foray into the Championship. Hearts will still need to look at and consider private investment when FOH takes over, although maybe not controlling interest. Portsmouth fans also did well for a while, but sold out. Unless the FOH builds up a huge pot of cash they are always going disadvantaged financially. Banks won’t lend football clubs money so an investor (Person or company) with cash is ultimately required to fund capital projects or even just supporting day to day running. But would the FOH be able to build up £5mm+ cash? I suspect not, the desire will nearly always be to pump it into the playing side to improve playing fortunes! Quote Link to comment Share on other sites More sharing options...
Libertarian Posted May 28, 2020 Share Posted May 28, 2020 He has to realise that if he wants to be involved with Hearts that he will never own the club and that he would have to work with the supporters. If he wants to be the biggest investor that's fair enough but he will never own us. Quote Link to comment Share on other sites More sharing options...
Seymour M Hersh Posted May 28, 2020 Share Posted May 28, 2020 Keep these shit bag Gillets away from the club. Quote Link to comment Share on other sites More sharing options...
SMJ_1874 Posted May 28, 2020 Share Posted May 28, 2020 40 minutes ago, eyesandears said: Over to Stuart Wallace then. Oh and that statement suggests the club and FoH haven't even replied. Surely not. Hopefully Stuart can talk him him round to taking out a direct debit and becoming a another one of our pledgers. Be interested to see what he would pledge per month. £10k a month for the next 5 years and then we’ll see how serious he is Quote Link to comment Share on other sites More sharing options...
OldGorgie Posted May 28, 2020 Share Posted May 28, 2020 1 hour ago, Barack said: You again...?! God loves a troll. Ex Tim Pat has a habit of posting this sort of nonsense. Quote Link to comment Share on other sites More sharing options...
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