adeb74 Posted December 5, 2008 Share Posted December 5, 2008 Just wondering if there is any truth that Hearts received another installment from the transfer of Craig Gordon to Sunderland Today? If so and going by the recent players wages issue, is this the probable source of the payment of overdue wages? Could be utter jimmy white but cant help the mind wandering during the current issue! Link to comment Share on other sites More sharing options...
siegementality Posted December 5, 2008 Share Posted December 5, 2008 Just wondering if there is any truth that Hearts received another installment from the transfer of Craig Gordon to Sunderland Today? If so and going by the recent players wages issue, is this the probable source of the payment of overdue wages? Could be utter jimmy white but cant help the mind wandering during the current issue! Vladimir Romanov is the owner of HMFC, he is a multi millionaire, why would he have to wait on a payment from Sunderland to pay players wages? Bearing in mind that Hearts are the worst payers in the world what was going to happen if Sunderland did a Hearts and fecked Romanov about for months before paying? Link to comment Share on other sites More sharing options...
Francis Albert Posted December 5, 2008 Share Posted December 5, 2008 Is there any trith in the rumour that Anatoly Karabotchov won the midweek lottery? Link to comment Share on other sites More sharing options...
adeb74 Posted December 5, 2008 Author Share Posted December 5, 2008 Vladimir Romanov is the owner of HMFC, he is a multi millionaire, why would he have to wait on a payment from Sunderland to pay players wages? Bearing in mind that Hearts are the worst payers in the world what was going to happen if Sunderland did a Hearts and fecked Romanov about for months before paying? Probably because Sunderland have paid on time in the past and if there is financial problems (which is becoming increasingly likely unless a club statement proves otherwise) then a quick or temporary fix of 3million quid could be just what the doctor ordered! As i have said if its rubbish then so be it! Link to comment Share on other sites More sharing options...
Nucky Thompson Posted December 5, 2008 Share Posted December 5, 2008 He made his 38th league appearance on Saturday, a funny number if we were due money on appearances:rolleyes: Link to comment Share on other sites More sharing options...
siegementality Posted December 5, 2008 Share Posted December 5, 2008 Probably because Sunderland have paid on time in the past and if there is financial problems (which is becoming increasingly likely unless a club statement proves otherwise) then a quick or temporary fix of 3million quid could be just what the doctor ordered! As i have said if its rubbish then so be it! As I said, Romanov is supposed to be a multi-millionaire, if he is now having to wait on a payment (if one is due) from Sunderland to pay people then I would suggest his financial problems are worse that first thought. Link to comment Share on other sites More sharing options...
Carl Weathers Posted December 5, 2008 Share Posted December 5, 2008 He made his 38th league appearance on Saturday, a funny number if we were due money on appearances:rolleyes: 38 games in a Premier league season is all I could think of? Link to comment Share on other sites More sharing options...
N User Posted December 5, 2008 Share Posted December 5, 2008 He made his 38th league appearance on Saturday, a funny number if we were due money on appearances:rolleyes: It's common practice in football for big transfer fees to be paid in instalment. It wouldn't surprise me if Hearts and Sunderland had such an agreement in place, especially considering we got such a large fee for him. Link to comment Share on other sites More sharing options...
Rawrrrrrrr Posted December 5, 2008 Share Posted December 5, 2008 Apparently we received 7mn up front 1mn at some point last season We are apparently on the bounds of receiving the final million, and would have already if it wasnt for his injury so I think we must be getting a million at 40 games ( was the other million not 20 games?) Definitly not 3 million Link to comment Share on other sites More sharing options...
Nucky Thompson Posted December 5, 2008 Share Posted December 5, 2008 Apparently we received 7mn up front1mn at some point last season We are apparently on the bounds of receiving the final million, and would have already if it wasnt for his injury so I think we must be getting a million at 40 games ( was the other million not 20 games?) Definitly not 3 million I've just checked the SAFC website and he has made 38 league appearances and 2 Cup appearances, so this now sounds plausible. Link to comment Share on other sites More sharing options...
Rawrrrrrrr Posted December 5, 2008 Share Posted December 5, 2008 I've just checked the SAFC website and he has made 38 league appearances and 2 Cup appearances, so this now sounds plausible. I am sure no one will mind if Sunderland don't pay up until next july though Link to comment Share on other sites More sharing options...
adeb74 Posted December 5, 2008 Author Share Posted December 5, 2008 I am a great believer that we as fans should make up our minds with the backing of clear and regular club statements. Yet again the press like the animals that they are have turned a situation 10 times worse. They just cannot wait for the next Vlad slip up. However in this instance their must be some elimant in the truth going around otherwise there would have to be somesort of statement from Vlads team. All i heard was that a payment of around 3 million was due from sunderland - prob rubbish but i hope you see why i am making this connection bearing in mind we couldnt pay wages last friday! Link to comment Share on other sites More sharing options...
Drylaw Hearts Posted December 5, 2008 Share Posted December 5, 2008 I am sure no one will mind if Sunderland don't pay up until next july though Link to comment Share on other sites More sharing options...
Francis Albert Posted December 5, 2008 Share Posted December 5, 2008 Vladimir Romanov is the owner of HMFC, he is a multi millionaire, why would he have to wait on a payment from Sunderland to pay players wages? Do you really think Vlad pays the players out of his own personal bank account? I am sure his personal wealth is very securely ring fenced from the various limited liability entities of his businesses. Link to comment Share on other sites More sharing options...
Rawrrrrrrr Posted December 5, 2008 Share Posted December 5, 2008 Do you really think Vlad pays the players out of his own personal bank account? I am sure his personal wealth is very securely ring fenced from the various limited liability entities of his businesses. Exactly Vlad himself owns little if any shares Ubig own our shares. Owning shares does not mean you own hearts. Heart of Midlothian PLC is it's own legal entity. Link to comment Share on other sites More sharing options...
adeb74 Posted December 5, 2008 Author Share Posted December 5, 2008 Exactly Vlad himself owns little if any shares Ubig own our shares. Owning shares does not mean you own hearts. Heart of Midlothian PLC is it's own legal entity. And the fact is that Hearts have failed to pay staff wages on two seperate occasions so someone somewhere is to blame for this mess? Vlad's name i would imagine has probably signed some sort of guarentaur(sorry for spelling) so i would imagine in that sense the buck stops with him? Link to comment Share on other sites More sharing options...
Francis Albert Posted December 5, 2008 Share Posted December 5, 2008 Vlad's name i would imagine has probably signed some sort of guarentaur(sorry for spelling) so i would imagine in that sense the buck stops with him? I would bet Hearts debt that Vlad hasn't signed any personal guarantees. Link to comment Share on other sites More sharing options...
alwaysthereinspirit Posted December 5, 2008 Share Posted December 5, 2008 It would be funny if Sunderland told Hearts "this week doesn't work for us with regards to paying bills. We just had the carpets cleaned and we paid him first":p Link to comment Share on other sites More sharing options...
The Old Tolbooth Posted December 5, 2008 Share Posted December 5, 2008 The way I understood the deal to have been set up is 7M up front, 1M for staying up (which they did) and a further 1M for a set amount of appearances, although cant remember how many it was. Link to comment Share on other sites More sharing options...
Delboy1998 Posted December 5, 2008 Share Posted December 5, 2008 The way I understood the deal to have been set up is 7M up front, 1M for staying up (which they did) and a further 1M for a set amount of appearances, although cant remember how many it was. 1 game away! Link to comment Share on other sites More sharing options...
The Real Maroonblood Posted December 5, 2008 Share Posted December 5, 2008 I am sure no one will mind if Sunderland don't pay up until next july though :):) Link to comment Share on other sites More sharing options...
Father Tiresias Posted December 6, 2008 Share Posted December 6, 2008 It's ?300,000 according to this. Link to comment Share on other sites More sharing options...
Charlie-Brown Posted December 6, 2008 Share Posted December 6, 2008 Another 5 games according to this article. http://www.dailymail.co.uk/sport/football/article-1092373/Cash-strapped-Hearts-wait-Gordon-windfall-club-looks-creditors-bay.html Link to comment Share on other sites More sharing options...
Rawrrrrrrr Posted December 6, 2008 Share Posted December 6, 2008 Why should sunderland pay it? We all know that good business's dont pay until you take them to court afterall..... Link to comment Share on other sites More sharing options...
Drylaw Hearts Posted December 6, 2008 Share Posted December 6, 2008 Another 5 games according to this article. http://www.dailymail.co.uk/sport/football/article-1092373/Cash-strapped-Hearts-wait-Gordon-windfall-club-looks-creditors-bay.html There are a few articles on the same subject all giving different amounts due and when it's actually due. Ewan Murray says it's ?350,000. http://www.guardian.co.uk/football/2008/dec/06/hearts-scottish-premier-league Link to comment Share on other sites More sharing options...
Father Tiresias Posted December 6, 2008 Share Posted December 6, 2008 It's ?300,000 according to this. Some other reports are quoting slightly more but no-where near the ?3m or so that's been speculated about. I wonder if Hearts will take Sunderland to court if they don't pay on time??? Link to comment Share on other sites More sharing options...
MacDonald Jardine Posted December 6, 2008 Share Posted December 6, 2008 Why should sunderland pay it? We all know that good business's dont pay until you take them to court afterall..... Maybe because they'll be front page of The Sun if they don't? Link to comment Share on other sites More sharing options...
magicTs Posted December 6, 2008 Share Posted December 6, 2008 Let's hope he is : a) fit again soon http://news.bbc.co.uk/sport2/hi/football/eng_prem/7748461.stm first choice pick under the new manager so we get the money through quickly. It's so sh*t that we have wasted all the money we got for Gordon when it was a fantastic opportuntiy to pay off the debt. Link to comment Share on other sites More sharing options...
aDONis Posted December 6, 2008 Share Posted December 6, 2008 Let's hope he is : a) fit again soon http://news.bbc.co.uk/sport2/hi/football/eng_prem/7748461.stm first choice pick under the new manager so we get the money through quickly. It's so sh*t that we have wasted all the money we got for Gordon when it was a fantastic opportuntiy to pay off the debt. Hi Magic T There is a good chance that much of the Gordon money has been used to pay off debt. Although debt and cash-flow are very closely linked they are not one and the same. The bank may have taken the money and offset it against debt (therefore reducing Hearts debt) and then also not extended any borrowing ie. the ?7m was simply swallowed by the debt, leaving Hearts with no access to funds. My guesstimate of Hearts DEBT at 30 Jun 2008 would be something like this. Opening position ?37m Less Gordon & Bednar etc. ?9m (this is the cash inflow ie ?7m for CG not the sales fee of ?9m for CG) Debt equity swap ?9m Plus loss for year ?6m ?? (overall cash outflow) Closing debt figure ?25m (roughly) Of course all these numbers could be wrong, but I can't believe that the Hearts balance sheet won't have improved by ?10m+ since last year. Even though this is a massive improvement on last year, it doesn't mean to say that they bank would automatically allow Hearts to spend back up to ?37m hence the rumoured cash flow. Yours aDONis Link to comment Share on other sites More sharing options...
Charlie-Brown Posted December 6, 2008 Share Posted December 6, 2008 Hi Magic T There is a good chance that much of the Gordon money has been used to pay off debt. Although debt and cash-flow are very closely linked they are not one and the same. The bank may have taken the money and offset it against debt (therefore reducing Hearts debt) and then also not extended any borrowing ie. the ?7m was simply swallowed by the debt, leaving Hearts with no access to funds. My guesstimate of Hearts DEBT at 30 Jun 2008 would be something like this. Opening position ?37m Less Gordon & Bednar etc. ?9m (this is the cash inflow ie ?7m for CG not the sales fee of ?9m for CG) Debt equity swap ?9m Plus loss for year ?6m ?? Closing debt figure ?25m (roughly) Of course all these numbers could be wrong, but I can't believe that the Hearts balance sheet won't have improved by ?10m+ since last year. Even though this is a massive improvement on last year, it doesn't mean to say that they bank would automatically allow Hearts to spend back up to ?37m hence the rumoured cash flow. Yours aDONis The debt equity swap was ?12M meaning debt would be approx ?22M going by your estimations. Link to comment Share on other sites More sharing options...
aDONis Posted December 6, 2008 Share Posted December 6, 2008 The debt equity swap was ?12M meaning debt would be approx ?22M going by your estimations. Absolutely correct. Yours aDONis Link to comment Share on other sites More sharing options...
derryjambo Posted December 6, 2008 Share Posted December 6, 2008 To be honest he should have saved himself the bother and stopped typing after the word guesstimate... Link to comment Share on other sites More sharing options...
Bootboy100 Posted December 6, 2008 Share Posted December 6, 2008 As I said, Romanov is supposed to be a multi-millionaire, if he is now having to wait on a payment (if one is due) from Sunderland to pay people then I would suggest his financial problems are worse that first thought. Its all very well calling yourself a millionaire however if you have very little in liquid assets and sound liquidity you are essentially Donald Ducked!!! Link to comment Share on other sites More sharing options...
aDONis Posted December 6, 2008 Share Posted December 6, 2008 To be honest he should have saved himself the bother and stopped typing after the word guesstimate... That's a funny comment. My post was a response to Magic T having said that the cash from Gordon had been "wasted" when it could have been used to pay off debt. I simply said that it probably had been used to pay of debt, but that doesn't necessarily ease cash-flow. I thought it was possitive Yours aDONis Link to comment Share on other sites More sharing options...
Mr Romanov Saviour of HMFC Posted December 6, 2008 Share Posted December 6, 2008 Why should sunderland pay it? We all know that good business's dont pay until you take them to court afterall..... That's twice you have used that wee joke now. Fancy going for a third? Link to comment Share on other sites More sharing options...
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