dellboy1971 Posted May 15, 2009 Share Posted May 15, 2009 AT AGM TODAY WHAT A WASTE OF TIME ONLY 10 QUESTIONS CAME FROM THE FLOOR . WHAT CAME FROM AGM 1. REDEVELOPEMENT OF NEW STAND WILL COST 60 MILLION DOWNSIZED BECAUSE OFF FIANCIAL CLIMIT. 2. DEBT WILL GO UP EVERY YEAR UNTIL STAND BUILT. 3. NEED TO SELL ABOUT 5 MILLION OFF TALENT EVERY YEAR TO BALANCE BOOKS BOARD SEE NO PROBLEM IN BRINGING THIS IN. 4. CSABA ON YEARLY ROLLING CONTRACT WII DISCUSS ABOUT EXTENDING AT END OF SEASON. 5. 17.6 MILLION TO GET PAID TO UKIO BANKAS FEB 7TH 2010 .??? 6. UKIOS BANKAS TO BE SHIRT SPONSOR NEXT SEASON. 7. REDUCEING SQUAD AND PAYROLL Link to comment Share on other sites More sharing options...
Gavsy Van Gaverson Posted May 15, 2009 Share Posted May 15, 2009 AT AGM TODAY WHAT A WASTE OF TIME ONLY 10 QUESTIONS CAME FROM THE FLOOR . WHAT CAME FROM AGM 1. REDEVELOPEMENT OF NEW STAND WILL COST 60 MILLION DOWNSIZED BECAUSE OFF FIANCIAL CLIMIT. 2. DEBT WILL GO UP EVERY YEAR UNTIL STAND BUILT. 3. NEED TO SELL ABOUT 5 MILLION OFF TALENT EVERY YEAR TO BALANCE BOOKS BOARD SEE NO PROBLEM IN BRINGING THIS IN. 4. CSABA ON YEARLY ROLLING CONTRACT WII DISCUSS ABOUT EXTENDING AT END OF SEASON. 5. 17.6 MILLION TO GET PAID TO UKIO BANKAS FEB 7TH 2010 .??? 6. UKIOS BANKAS TO BE SHIRT SPONSOR NEXT SEASON. 7. REDUCEING SQUAD AND PAYROLL Downsizing from ?51m to ?60m. I'm confuddled. Link to comment Share on other sites More sharing options...
JamboJen Posted May 15, 2009 Share Posted May 15, 2009 A rather boring AGM is probably a better thing than the farce that happened last year. Looks like the club are happy to tell us that debt will increase and they're not concerned by it, which is fine by me. It's gonna be a long road out but we'll get there eventually. Link to comment Share on other sites More sharing options...
andrew Posted May 15, 2009 Share Posted May 15, 2009 There's no danger we should be losing ?5m a year after we reduce the wagebill. Link to comment Share on other sites More sharing options...
The Merse Posted May 15, 2009 Share Posted May 15, 2009 Sell 5 million talent a year. Good one. Million pound + players grow on trees right enough. Link to comment Share on other sites More sharing options...
Gambo Posted May 15, 2009 Share Posted May 15, 2009 Who was at the top table? Link to comment Share on other sites More sharing options...
The Merse Posted May 15, 2009 Share Posted May 15, 2009 There's no danger we should be losing ?5m a year after we reduce the wagebill. Well in a year where we brought in 20 million + capital from transfers and DFE swap we only chopped 6 million off the debt, so without these injections then we're bound to make substantial losses year on year. Link to comment Share on other sites More sharing options...
vegas-voss Posted May 15, 2009 Share Posted May 15, 2009 So basically Driver and Wallace(despite his new contract)will need to go next year to make anyway near ?5m in player sales. Link to comment Share on other sites More sharing options...
bn jambo Posted May 15, 2009 Share Posted May 15, 2009 on the website now, http://www.heartsfc.premiumtv.co.uk/page/HeartsNewsDetail/0,,10289~1658650,00.html Link to comment Share on other sites More sharing options...
jambobrett Posted May 15, 2009 Share Posted May 15, 2009 There's no danger we should be losing ?5m a year after we reduce the wagebill. Can't see us selling ?5M worth a year either! We're already being very optimistic in expecting ?2M for Driver, a winger who can't cross or shoot. Who else do we have? Eggert? Glen? Wallace? And then we're pretty much down to Templeton, Husband etc. Link to comment Share on other sites More sharing options...
bighalders Posted May 15, 2009 Share Posted May 15, 2009 AT AGM TODAY WHAT A WASTE OF TIME ONLY 10 QUESTIONS CAME FROM THE FLOOR . WHAT CAME FROM AGM 1. REDEVELOPEMENT OF NEW STAND WILL COST 60 MILLION DOWNSIZED BECAUSE OFF FIANCIAL CLIMIT. 2. DEBT WILL GO UP EVERY YEAR UNTIL STAND BUILT. 3. NEED TO SELL ABOUT 5 MILLION OFF TALENT EVERY YEAR TO BALANCE BOOKS BOARD SEE NO PROBLEM IN BRINGING THIS IN. 4. CSABA ON YEARLY ROLLING CONTRACT WII DISCUSS ABOUT EXTENDING AT END OF SEASON. 5. 17.6 MILLION TO GET PAID TO UKIO BANKAS FEB 7TH 2010 .??? 6. UKIOS BANKAS TO BE SHIRT SPONSOR NEXT SEASON. 7. REDUCEING SQUAD AND PAYROLL So let's get this right - Vlad comes in and instead of reducing our debt increases it to a point we can't trade our way out or sell our way out, now the plan is for the debt to continue to increase. Again, the worst owner of Hearts, Wallace Mercer will be spinning in his grave, god rest his soul. We wanted rid of the Pieman because the debt got so great he decided t osell Tynie, now we can't even do that, we are totally at the mercy of Vlad and Ukio etc. Hearts are at their most vulnerable position since 1981, scary times. Link to comment Share on other sites More sharing options...
heartsfc_fan Posted May 15, 2009 Share Posted May 15, 2009 Kingston's and Aguiar's wages alone probably equate to over ?1 Million a year. We get them two punted, that will help matters. Link to comment Share on other sites More sharing options...
vegas-voss Posted May 15, 2009 Share Posted May 15, 2009 Kingston's and Aguiar's wages alone probably equate to over ?1 Million a year. We get them two punted, that will help matters. And Nade Link to comment Share on other sites More sharing options...
JamboJen Posted May 15, 2009 Share Posted May 15, 2009 Anyone know how much Oberdeen made from their European games last season? Link to comment Share on other sites More sharing options...
ArmiyaRomanova Posted May 15, 2009 Share Posted May 15, 2009 What I understood... 1. REDEVELOPEMENT OF NEW STAND WILL COST 60 MILLION DOWNSIZED BECAUSE OFF FIANCIAL CLIMIT. Looking to go ahead with a mixture of HMFC and outside investment. Have been looking, in the current financial climate, at revised financing plans which involve not delivering everything at once, but over a period of six or seven years, with the Main Stand the top priority. 2. DEBT WILL GO UP EVERY YEAR UNTIL STAND BUILT. But within 'manageable' limits, and they're continuing to strive to bring costs down. Would imagine that currency exchange rates (weak ?/strong €) will also add to the debt. 3. NEED TO SELL ABOUT 5 MILLION OFF TALENT EVERY YEAR TO BALANCE BOOKS BOARD SEE NO PROBLEM IN BRINGING THIS IN. 4. CSABA ON YEARLY ROLLING CONTRACT WII DISCUSS ABOUT EXTENDING AT END OF SEASON. Although they seemed happy with Csaba, I'd hoped that they might say they're keen to keep him. As Csaba himself says, everyone has their price. 5. 17.6 MILLION TO GET PAID TO UKIO BANKAS FEB 7TH 2010 .??? 6. UKIOS BANKAS TO BE SHIRT SPONSOR NEXT SEASON. Other major sponsor, Umbro, also extended their deal with the club. 7. REDUCEING SQUAD AND PAYROLL But still focusing on a mixture of experience and youth, with high hopes for players coming through our youth system. The right balance must be struck, and that's what they're aiming towards. During summer, some players will leave - but others will arrive (didn't say how many, or what budget Csaba might be working within. I assumed minimal). Link to comment Share on other sites More sharing options...
MrBones Posted May 15, 2009 Share Posted May 15, 2009 That has to be the worst business plan ever. And if we dont sell 5 million worth of players each year? Then what? Whilst at the same time reducing the squad and payroll??????? Link to comment Share on other sites More sharing options...
Ryan Gosling Posted May 15, 2009 Share Posted May 15, 2009 All interest payments due to UBIG companies will be rolled up into capital/shares. Link to comment Share on other sites More sharing options...
Say What Again Posted May 15, 2009 Share Posted May 15, 2009 3. NEED TO SELL ABOUT 5 MILLION OFF TALENT EVERY YEAR TO BALANCE BOOKS Maybe the Tooth Fairy or Santa will give us it. There's as much chance of either happening. Link to comment Share on other sites More sharing options...
JamboJen Posted May 15, 2009 Share Posted May 15, 2009 Kingston's and Aguiar's wages alone probably equate to over ?1 Million a year. We get them two punted, that will help matters. We're definately bringing the costs of the playing side down. I'd imagine Robbie will be the last of the high earners and even if he stays it would be on a reduced contract. The new bonus scheme should see us pay out in proportion to what we're achieving on the pitch as well, instead of the "here have some money cos you've just drawn with Gretna" idiocy. Link to comment Share on other sites More sharing options...
bighalders Posted May 15, 2009 Share Posted May 15, 2009 ?5M a year in player sales, so Driver, Aguiar, Jonsson........... sorry how do we get to ?5M and where to we get ?5M of talent to sell the next year and the next and the next and the next. The plan is.......flawed, ok the plan is the most ridiculous, did they get it from the Tynie nursery kids on the way in. Link to comment Share on other sites More sharing options...
dellboy1971 Posted May 15, 2009 Author Share Posted May 15, 2009 CORRECT NOBODY HAD THE BOTTLE TO BRING UP AT AGM SAYING YOUR POINT ROMANOV HAS BORROWED MONEY AND ADDED TO HEARTS DEBT NOT PUTING ANY OF HIS MONEY IN Link to comment Share on other sites More sharing options...
The People's Chimp Posted May 15, 2009 Share Posted May 15, 2009 And no mention of where the Gordon and Bednar money went? And it seems like things aren't quite adding up? Link to comment Share on other sites More sharing options...
Feeno Posted May 15, 2009 Share Posted May 15, 2009 So let's get this right - Vlad comes in and instead of reducing our debt increases it to a point we can't trade our way out or sell our way out, now the plan is for the debt to continue to increase. Again, the worst owner of Hearts, Wallace Mercer will be spinning in his grave, god rest his soul. We wanted rid of the Pieman because the debt got so great he decided t osell Tynie, now we can't even do that, we are totally at the mercy of Vlad and Ukio etc. Hearts are at their most vulnerable position since 1981, scary times. We're increasing the debt to redevelop Tynecastle, that not sink in with you at all no? Link to comment Share on other sites More sharing options...
JamboJen Posted May 15, 2009 Share Posted May 15, 2009 CORRECT NOBODY HAD THE BOTTLE TO BRING UP AT AGMSAYING YOUR POINT ROMANOV HAS BORROWED MONEY AND ADDED TO HEARTS DEBT NOT PUTING ANY OF HIS MONEY IN No need to shout Link to comment Share on other sites More sharing options...
Mr Romanov Saviour of HMFC Posted May 15, 2009 Share Posted May 15, 2009 Can anyone else who was at the AGM just confirm that they said we need to sell ?5 million worth of player every year? Not saying the OP is wrong but he may have misheard. If thats true then this board are kidding themselves on. Link to comment Share on other sites More sharing options...
bighalders Posted May 15, 2009 Share Posted May 15, 2009 What I understood... 1. REDEVELOPEMENT OF NEW STAND WILL COST 60 MILLION DOWNSIZED BECAUSE OFF FIANCIAL CLIMIT. Looking to go ahead with a mixture of HMFC and outside investment. Have been looking, in the current financial climate, at revised financing plans which involve not delivering everything at once, but over a period of six or seven years, with the Main Stand the top priority. 2. DEBT WILL GO UP EVERY YEAR UNTIL STAND BUILT. But within 'manageable' limits, and they're continuing to strive to bring costs down. Would imagine that currency exchange rates (weak ?/strong ?) will also add to the debt. 3. NEED TO SELL ABOUT 5 MILLION OFF TALENT EVERY YEAR TO BALANCE BOOKS BOARD SEE NO PROBLEM IN BRINGING THIS IN. 4. CSABA ON YEARLY ROLLING CONTRACT WII DISCUSS ABOUT EXTENDING AT END OF SEASON. Although they seemed happy with Csaba, I'd hoped that they might say they're keen to keep him. As Csaba himself says, everyone has their price. 5. 17.6 MILLION TO GET PAID TO UKIO BANKAS FEB 7TH 2010 .??? 6. UKIOS BANKAS TO BE SHIRT SPONSOR NEXT SEASON. Other major sponsor, Umbro, also extended their deal with the club. 7. REDUCEING SQUAD AND PAYROLL But still focusing on a mixture of experience and youth, with high hopes for players coming through our youth system. The right balance must be struck, and that's what they're aiming towards. During summer, some players will leave - but others will arrive (didn't say how many, or what budget Csaba might be working within. I assumed minimal). Are you the one to spend ?5M a year buying players from Hearts, if so, cheers Santa. I believe! I believe, well done Vlad. Now who to believe in more, Santa or Vlad, or neither. Link to comment Share on other sites More sharing options...
MrBones Posted May 15, 2009 Share Posted May 15, 2009 Did they say why the club is being investigated by Revenues and Customs? Link to comment Share on other sites More sharing options...
bighalders Posted May 15, 2009 Share Posted May 15, 2009 We're increasing the debt to redevelop Tynecastle, that not sink in with you at all no? I think you'll find that even without the revelopment of Tynie our debt will increase anyway, just for the hard of understanding. Link to comment Share on other sites More sharing options...
vegas-voss Posted May 15, 2009 Share Posted May 15, 2009 on the website now,http://www.heartsfc.premiumtv.co.uk/page/HeartsNewsDetail/0,,10289~1658650,00.html Everything said there looks good to me.Happy with that and it is how things should really have been done since Vlad came in but at least they are doing it now.Playing front is really all that matters to me and I like that they are saying that we should have no fringe players over 21. Link to comment Share on other sites More sharing options...
Feeno Posted May 15, 2009 Share Posted May 15, 2009 Are you the one to spend ?5M a year buying players from Hearts, if so, cheers Santa. I believe! I believe, well done Vlad. Now who to believe in more, Santa or Vlad, or neither. Your starting to embarass yourself here. Link to comment Share on other sites More sharing options...
Guest JamboRobbo Posted May 15, 2009 Share Posted May 15, 2009 Sell 5 million talent a year. Good one. Million pound + players grow on trees right enough. Indeed. If that is really the plan our board have, then it is a worry. Link to comment Share on other sites More sharing options...
The Treasurer Posted May 15, 2009 Share Posted May 15, 2009 Maybe I missed something but while it's certainly planned to develop home grown talent with a view to selling at a profit to help reduce debts at no time was the sum of 5 million (or any other specific figure) mentioned. Also Csaba is not on a rolling contract, he signed a 3 year deal and it would appear that both parties are happy with that arrangement. Over all I thought the agm was fairly positive and a hundered times better than the farce of recent years with RR in the chair. Link to comment Share on other sites More sharing options...
jambo84 Posted May 15, 2009 Share Posted May 15, 2009 Anyone who attended this, out of interest can the two lithuianians speak english Link to comment Share on other sites More sharing options...
Ryan Gosling Posted May 15, 2009 Share Posted May 15, 2009 I don't recall hearing the ?5m remark. I also think the OP should learn how to use his keyboard. Link to comment Share on other sites More sharing options...
Feeno Posted May 15, 2009 Share Posted May 15, 2009 I think you'll find that even without the revelopment of Tynie our debt will increase anyway, just for the hard of understanding. Well with the added revenue from upped tickets of sales, corporate deals, property deals with the shops/pubs we would be looking to offsettin the increased debt for the very hard of understanding Vlad is working towards us being a bigger club and a self sustainable club in the longerterm. Can you suggest a better way of doing it? Instead of going radge at what is effectivley good news for no other reason than than limited intelligence. Although reading back your statement I shouldnae really bother arguin with you, cos your never gonnae grasp the concept of spending that bit more now to make sure the future is good (Arsenal and the emirates being a good case reference) Link to comment Share on other sites More sharing options...
Guest JamboRobbo Posted May 15, 2009 Share Posted May 15, 2009 We're increasing the debt to redevelop Tynecastle, that not sink in with you at all no? So which part of redevloping Tynecastle have we spent millions on during the past 2 years? Link to comment Share on other sites More sharing options...
speedbump Posted May 15, 2009 Share Posted May 15, 2009 Maybe I missed something but while it's certainly planned to develop home grown talent with a view to selling at a profit to help reduce debts at no time was the sum of 5 million (or any other specific figure) mentioned.Also Csaba is not on a rolling contract, he signed a 3 year deal and it would appear that both parties are happy with that arrangement. Over all I thought the agm was fairly positive and a hundered times better than the farce of recent years with RR in the chair. Cleared up, nice one. Link to comment Share on other sites More sharing options...
bighalders Posted May 15, 2009 Share Posted May 15, 2009 Your starting to embarass yourself here. No, just trying to be light hearted at the prospect of an extremely large and precarious debt increasing again and again and again. You keep your head in the sand mate, don't worry, don't want you to say something that might embarrass you eh. Link to comment Share on other sites More sharing options...
Mr Romanov Saviour of HMFC Posted May 15, 2009 Share Posted May 15, 2009 Maybe I missed something but while it's certainly planned to develop home grown talent with a view to selling at a profit to help reduce debts at no time was the sum of 5 million (or any other specific figure) mentioned.Also Csaba is not on a rolling contract, he signed a 3 year deal and it would appear that both parties are happy with that arrangement. Over all I thought the agm was fairly positive and a hundered times better than the farce of recent years with RR in the chair. I don't recall hearing the ?5m remark. I also think the OP should learn how to use his keyboard. Cheers, it is virtually impossible for a club of Hearts size to raise ?5 million in funds a year. Now that's cleared up, it seems pretty positive. A million miles from last year. Link to comment Share on other sites More sharing options...
Cigaro Posted May 15, 2009 Share Posted May 15, 2009 CORRECT NOBODY HAD THE BOTTLE TO BRING UP AT AGMSAYING YOUR POINT ROMANOV HAS BORROWED MONEY AND ADDED TO HEARTS DEBT NOT PUTING ANY OF HIS MONEY IN Did you? Link to comment Share on other sites More sharing options...
Guest JamboRobbo Posted May 15, 2009 Share Posted May 15, 2009 Maybe I missed something but while it's certainly planned to develop home grown talent with a view to selling at a profit to help reduce debts at no time was the sum of 5 million (or any other specific figure) mentioned. Glad to hear it. That would've been a ludicrous "plan". Link to comment Share on other sites More sharing options...
bighalders Posted May 15, 2009 Share Posted May 15, 2009 So which part of redevloping Tynecastle have we spent millions on during the past 2 years? I got my name on my seat, cost to Hearts ?1.50 plus Vlad admin fee of ?1,750,000, total ?1,750,001.50, see it's easy to spend millions devleoping the stadium Link to comment Share on other sites More sharing options...
Adi Dassler Posted May 15, 2009 Share Posted May 15, 2009 So we are still in an extremely precarious financial position then? Shocked to hear this. Link to comment Share on other sites More sharing options...
Feeno Posted May 15, 2009 Share Posted May 15, 2009 So which part of redevloping Tynecastle have we spent millions on during the past 2 years? If you don't get it then you wont get it. Link to comment Share on other sites More sharing options...
Sexton Hardcastle Posted May 15, 2009 Share Posted May 15, 2009 Anything said on the story of HMRC looking into our books? Meanwhile, Hearts were due to hold their AGM this morning when shareholders get the chance to question the board on club business. Likely to be high on the agenda was the recent admission by auditors that the club is being investigated by Her Majesty's Revenue and Customs. In the annual report issued to shareholders, auditors Johnston Carmichael said: "The company is the subject of an ongoing investigation by HMRC. "At this stage, no indication has been give of the likelihood or extent of any potential unrecorded tax liabilities." Link to comment Share on other sites More sharing options...
Feeno Posted May 15, 2009 Share Posted May 15, 2009 No, just trying to be light hearted at the prospect of an extremely large and precarious debt increasing again and again and again. You keep your head in the sand mate, don't worry, don't want you to say something that might embarrass you eh. How do you no get the fact we need a bigger stadium to sell more tickets to make more money to eventuall get the debt down. **** Link to comment Share on other sites More sharing options...
bighalders Posted May 15, 2009 Share Posted May 15, 2009 Well with the added revenue from upped tickets of sales, corporate deals, property deals with the shops/pubs we would be looking to offsettin the increased debt for the very hard of understanding Vlad is working towards us being a bigger club and a self sustainable club in the longerterm. Can you suggest a better way of doing it? Instead of going radge at what is effectivley good news for no other reason than than limited intelligence. Although reading back your statement I shouldnae really bother arguin with you, cos your never gonnae grasp the concept of spending that bit more now to make sure the future is good (Arsenal and the emirates being a good case reference) Ha Ha Ha Ha Ha Ha Ha, you are comparing Hearts to Arsenal, a club that reduced their debt by ?70 million in one season, thats a lot of ticket sales for Hearts. You are funny :10900: very funny. Link to comment Share on other sites More sharing options...
Guest JamboRobbo Posted May 15, 2009 Share Posted May 15, 2009 If you don't get it then you wont get it. I don't get it? You said we're increasing the debt to rebuild Tynecastle. I'm asking, when the debt increased last year, what part of Tynecastle did we redevelop with that money. What else is there to get? Link to comment Share on other sites More sharing options...
The Treasurer Posted May 15, 2009 Share Posted May 15, 2009 Anyone who attended this, out of interest can the two lithuianians speak english A lot better than Calderwood. Link to comment Share on other sites More sharing options...
bighalders Posted May 15, 2009 Share Posted May 15, 2009 If you don't get it then you wont get it. No, go on, man in the know, explain what millinos have previously been spent on stadium development, I haven't seen it, so your help would be appreciated Link to comment Share on other sites More sharing options...
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