The Don Posted October 17, 2008 Share Posted October 17, 2008 I'm afraid that is utter and complete drivel. Hibs share structure is very clear which is that the club is owned by a holding company which is completely controlled by Tom Farmer(and 10% by Petrie) and all the land which from memory is valued at ?18m is owned by the club and not at arms length by any 3rd party building firm as this would have to be disclosed in the accounts. I've looked hard to find holes in Hibs structure and apart from some unexplained deals with a company called Morston Assets at the time they were building the training centre at Tranent their structure and financial position is very sound. Though this was financed by selling off ?10m worth of players and not by any good business plan. It wont be Valued at 18million in the current climate though will it? Unless of course the hobos are immune to the economic recession and downturn in land and property values. Link to comment Share on other sites More sharing options...
winston churchill Posted October 17, 2008 Share Posted October 17, 2008 When the Council invited bids for the land, the planning brief that was included with the sale documents stated that the site was not suitable for residential development. STF/Hibs accordingly put in a bid for mixed commercial/community leisure use, only for the Council to accept a higher bid from a consortium (which included Morrison homes) to build flats - the price being proportional to the number of flats approved by the planning department. STF suggested that he should be allowed to submit a revised bid given that flats were apparently to be permitted after all (land prices for flats are far higher than for gyms/5-a-side pitches). He was refused. A couple of years passed and no planning application had even been submitted. Furthermore, Morrison Homes (who had added a bit of credibility to the succesful bidders' consortium) pulled out of the deal. It was at this stage that STF began to look into the deal again but, to cut a long story short, was shafted again by the Council. Hibs then sold off the old car park, which had been earmarked to be part of the butterfly development, together with the bowling club beside the Dunbar end. To this date, the butterfly remains empty and the Council have yet to receive a penny. so ,are all they flats built between the back of the coo shed and lochend park .........on the old car park site. Link to comment Share on other sites More sharing options...
Calum Anderson Posted October 17, 2008 Share Posted October 17, 2008 I heard a wee tale today on my travels from a pretty credible source that things are not what they should be down at the San Giro. Apparently the returned Messiah allegedly can't keep his big gob shut about money and this has seriously heaved off a few of his team mates. Was told exactly the same thing I heard that as well. Yip heard this as well. Heard this too, Was told this some weeks ago Gosh, that's worrying Link to comment Share on other sites More sharing options...
Drylaw Hearts Posted October 17, 2008 Share Posted October 17, 2008 Gosh, that's worrying It's not worrying.... It's hilarious !!! All these Hearts fans hear a negative rumour about Hibs yet didn't bother posting it ?? Link to comment Share on other sites More sharing options...
The Don Posted October 17, 2008 Share Posted October 17, 2008 It's not worrying.... It's hilarious !!! All these Hearts fans hear a negative rumour about Hibs yet didn't bother posting it ?? Some of us do post things we hear on other forums you know. whats been said here is not new rumours but been brought up in the past, most probably on here. As i said in my post when i did speak about the rumours or speculation before i was informed by Hobos that they owned the land and it could be viewed in their accounts. I didnt see the need to start a thread about any of these matters and only mentioned it because it was brought up in this thread. Link to comment Share on other sites More sharing options...
Calum Anderson Posted October 17, 2008 Share Posted October 17, 2008 It's not worrying.... It's hilarious !!! All these Hearts fans hear a negative rumour about Hibs yet didn't bother posting it ?? I did wonder Link to comment Share on other sites More sharing options...
Regular John Posted October 17, 2008 Share Posted October 17, 2008 I have also heard from a senior Hibernian boardroom source that all is not well at Easter Road and they may have to consider moving some players on in January due to a chronic lack of funds. The boardroom are also becoming increasing restless at Pantyliners demands for a pay rise and they are seriously considering getting rid of him of after the derby regardless of the result such is his disturbance. Link to comment Share on other sites More sharing options...
Martin67 Posted October 18, 2008 Share Posted October 18, 2008 Just passing on a story I heard today - it seems to have irked you a little bit. Mmmm, I wonder why!!!In any case i've no doubt that we'll be more than a match for the vermin on Sunday. It only irked me because, IMO, if were going to wind up the hobos with dodgy rumours, we should at least try and do it with some subtlety. We should be above all that stuff anyway. Link to comment Share on other sites More sharing options...
Ray Winstone Posted October 18, 2008 Share Posted October 18, 2008 Petrie will be banking on being able to punt Riordan in January, and maybe at a push, the end of the season! They cant sustain his wages on that budget for much longer than that so I imagine the other players will be told to hold tight as he will be gone soon enough. Link to comment Share on other sites More sharing options...
The Baldmans Comb Posted October 18, 2008 Share Posted October 18, 2008 As you have correctly stated, hibs are completely controlled by a holding company which is completely controlled by Tom Farmer(and 10% by Petrie). Surely if you've looked hard to find holes in hibs, you would have had to look hard into HFC Holdings (the holding company). Care to post any findings? The Hibs holding company is all very boring. Hibs holding company is owned by Farmer and Petrie doesn't have much debt and enters into the odd strange tie up with this company called Morston Assets which then seemed to die a death and looked like it was related to the Tranent training place funding. About my guess at ?18m valuation of the Easter Road premises is definetly inflated and will obviously come down next year but it really doesn't matter because whatever way you look at it Hibs are a very financially sound company who quite clearly balance the books and hardly have any debt and live within their means. It's quite hard to say it but they have obviously bought far more land than they need at Tranent and are hoping to cash in on this in future years when the green belt gets breached further. I'd imagine that this is a long way off but they haven't incurred any debt doing so and in fact anywhere you look on any of their companys accounts apart from normal run of the mill overdrafts and a very long term mortgage on one of the stands then there is no debt anywhere. It's all been done by selling all the semi decent players and banking the proceeds though rather than any sort of success. Link to comment Share on other sites More sharing options...
Sherlock Posted October 18, 2008 Share Posted October 18, 2008 The Hibs holding company is all very boring. Hibs holding company is owned by Farmer and Petrie doesn't have much debt and enters into the odd strange tie up with this company called Morston Assets which then seemed to die a death and looked like it was related to the Tranent training place funding. About my guess at ?18m valuation of the Easter Road premises is definetly inflated and will obviously come down next year but it really doesn't matter because whatever way you look at it Hibs are a very financially sound company who quite clearly balance the books and hardly have any debt and live within their means. It's quite hard to say it but they have obviously bought far more land than they need at Tranent and are hoping to cash in on this in future years when the green belt gets breached further. I'd imagine that this is a long way off but they haven't incurred any debt doing so and in fact anywhere you look on any of their companys accounts apart from normal run of the mill overdrafts and a very long term mortgage on one of the stands then there is no debt anywhere. It's all been done by selling all the semi decent players and banking the proceeds though rather than any sort of success. Absolute pish. And that's a FACT. I can't even be arsed going over this keek again. Link to comment Share on other sites More sharing options...
SMcD Posted October 18, 2008 Share Posted October 18, 2008 Absolute pish. And that's a FACT. I can't even be arsed going over this keek again. Writing the word "fact" in capital letters obviously doesn't mean that you have any idea what you're talking about. Link to comment Share on other sites More sharing options...
missusm Posted October 18, 2008 Share Posted October 18, 2008 I can guarantee that Hibs will go into adminstration before Hearts will. Link to comment Share on other sites More sharing options...
Le Chat Posted October 18, 2008 Share Posted October 18, 2008 I can guarantee that Hibs will go into adminstration before Hearts will. That'd be nice. Link to comment Share on other sites More sharing options...
missusm Posted October 18, 2008 Share Posted October 18, 2008 That'd be nice. I should also add that neither will happen in the near future;) Link to comment Share on other sites More sharing options...
Drylaw Hearts Posted October 18, 2008 Share Posted October 18, 2008 I should also add that neither will happen in the near future;) You can't beat a good wink. Link to comment Share on other sites More sharing options...
chester copperpot Posted October 18, 2008 Share Posted October 18, 2008 I haven't heard this, however can I just pretend to put some fright in the the hobo camp. Seriously guys, who cares if he has or hasn't. Tomorrow will see the best team win, fingers crossed its ours. Link to comment Share on other sites More sharing options...
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