Tonights Ask the Club

[Boomstick]

Approximately 4,978.

 

That's pretty exact for an approximate...

[Gorgiewave]

That's pretty exact for an approximate...

 

It has 4,978 seats but I don't know if all are in use.

[heartsfc_fan]

It has 4,978 seats but I don't know if all are in use.

 

I guessed 4,900,

 

but come to think of it around 250 of them have been removed for the dugout movement over in the far corner of section N, so I reckon the current capacity is about 4,700

[Mr Romanov Saviour of HMFC]

Any update on the Monster Munch situation?

[Coco]

Could somebody please explain what "debt for equity" means? WTF is equity anyway?

 

The equity in the club is the money that the shareholders have provided as the share capital of the club. VR and his companies own over 95% of the equity of the club. Minor shareholders including fans hanging on on the rest.

 

A debt for equity swap is normally carried out if there is no prospect of the business being able to pay back the debt it has taken on. The equity shareholders normally see their % of the club diluted away, sometimes entirely, as the debt holders change their claim on the club from debt to equity - a weaker financial claim in the event of bankruptcy. They basically give up some of the security of their claim in order to take ownership of the business. It is slightly different in our situation where the main creditor is also the owner of the club - it really does not mean a change in ownership.

 

Debt forgiveness is something different again - this I think is the first time it has been mentioned. Perhaps there are different tax implications of debt for equity/debt forgiveness?

[ford donald]

Nade has had it

Goncalves has had it

The big new stand has had it, a more realistic 10-11000 seater with less facilities in the planning

The players were unhappy with Csabas training & tactics

Mulrooney never told anyone he was a central midfielder till JJ asked him

Gary Locke still v happy about Saturday

Billy Brown reckons he could mark Nade

Obua is good in the air "when he gets his feet of the ground"

Glens confidence on the way back

Vlad still very into Hearts

Campbell Ogilvie wants a 12 team league with bottom 4 playing top 4 in 1st division with 4 staying up at end of season

JJ still gettin the pish ripped out of him for Petric

Some refinancing or equity stuff to come in the summer

We may have a shirt sponsor

Lawrence Broadie seems to like pies

Folk better stop smokin in the stands or a womans going to get you

Many suggestions on what to do about old firm fans singing dodgy songs

Scott Wilson uses his wifes phone

Club to encourage more events like this

Larrys version of whats happend over the past year far different from the papers, JJ is giving him a chance

No interference from Vlad

Realistic Transfer targets already discussed

Vlad well aware of JJ's reputation for getting good scottish laddies

JJ reckons that bad luck & maybe different training methods previously along with cold weather may be the cause for our injuries.

JJ meeting with Stewart, Zal & Fraser wishart tomorrow to discuss discipline And bring in new & acceptable procedures

The press are to weedgie orientated & Hearts are now concentrating getting their message directly to fans via Twitter, Facebook & Hearts TV rather than the using the press whose circulation is reducing year on year anyway.

All very positive but realistic.

Parkhead is a shithole for away fans

Pints are ?2.60

If anyone wants to invest Vlad will talk but has no intention of selling

JJ happy with Hearts youth policy

 

Now you diny have to watch it on Hearts telly tomorrow !!

 

Ching Ching, Ive not read this back so sorry for any spelling mistakes

 

Thanks for that.It all seems very positive now,but they need to get the new stand sorted one way or another,they have been dragging their heels far far to long!

[Homme]

Some positive stuff in there. Thanks to the KB reporters!!

[hawaii]

Thanks for the info

 

Good to know that Barry Anderson can have a lie in this morning knowing that he has his piece in today's EEN already written for him

[Buffalo Bill]

Some positive stuff in there. Thanks to the KB reporters!!

 

 

You're welcome.

 

 

[Heartbeat]

Theres a light bulb no working in the main stand acc to one question and folk are smoking in the back O the wheatfield cos one unlucky woman has been burned three times and only four stewards were on duty ....... to which Scott Wilson replied that the rest were having a quick fag at the back o the Wheatfield

[Heartbeat]

One question that was asked (was actually the first of the evening)

 

Was from a guy from St Andrews who reflected on the past and said he had been part of the youths coming through in the 60s if not mistaken and wondered when we were going to get back to bringing youngsters through the system.

 

No disrespect to the guy but I thought it was a pretty stupid question. Did the guy miss the likes of

J. Thomson,C.Thomson,Robinson,Smith,Glen,Mulrooney or in recent times Jonsson,Wallace, Elliott and the likes of McGowan and Ridgers to name but two who seem to be aiming towards being in the first team set up next year on a more regular basis.

 

Thats a hell of a lot of the curent squad who have came through the youths I think. We may not be the conveyor belt over at the docksiders but think we have done not too bad on that score. Even Driver is still pretty young and came through "the system"

[Buffalo Bill]

One question that was asked (was actually the first of the evening)

 

Was from a guy from St Andrews who reflected on the past and said he had been part of the youths coming through in the 60s if not mistaken and wondered when we were going to get back to bringing youngsters through the system.

 

No disrespect to the guy but I thought it was a pretty stupid question. Did the guy miss the likes of

J. Thomson,C.Thomson,Robinson,Smith,Glen,Mulrooney or in recent times Jonsson,Wallace, Elliott and the likes of McGowan and Ridgers to name but two who seem to be aiming towards being in the first team set up next year on a more regular basis.

 

Thats a hell of a lot of the curent squad who have came through the youths I think. We may not be the conveyor belt over at the docksiders but think we have done not too bad on that score. Even Driver is still pretty young and came through "the system"

 

 

I thought that was a bit odd too, but to be fair: he wasn't the worst!

 

'Front-row-soap-box-please-ask-your-question-before-I-die-man' and 'slurring drunk' were far worse offenders, imo.

[jambali]

I thought that was a bit odd too, but to be fair: he wasn't the worst!

 

'Front-row-soap-box-please-ask-your-question-before-I-die-man' and 'slurring drunk' were far worse offenders, imo.

 

I'd agree whole HEARTedly with your summing up of the worst offenders!

 

For the sake of accuracy (and to stop hobonomics experts and conspiracy theorists) we were told that "The AGM would probably be in April. The accounts would be out in the next couple of weeks and the AGM 30 days later"

 

Debt wise it was "gift" (presumably write-off) or "equity swap" or combination of the 2.

 

I think we were told that the shirt deal was already signed but to "wait and see" who it was.

[Gorgiewave]

The equity in the club is the money that the shareholders have provided as the share capital of the club. VR and his companies own over 95% of the equity of the club. Minor shareholders including fans hanging on on the rest.

 

A debt for equity swap is normally carried out if there is no prospect of the business being able to pay back the debt it has taken on. The equity shareholders normally see their % of the club diluted away, sometimes entirely, as the debt holders change their claim on the club from debt to equity - a weaker financial claim in the event of bankruptcy. They basically give up some of the security of their claim in order to take ownership of the business. It is slightly different in our situation where the main creditor is also the owner of the club - it really does not mean a change in ownership.

 

Debt forgiveness is something different again - this I think is the first time it has been mentioned. Perhaps there are different tax implications of debt for equity/debt forgiveness?

Thanks for that. I'm afraid I don't understand how it would work in our case: it sounds like Vlad swapping the debt he is owed for shares he already has.

[rossthejambo]

I'd agree whole HEARTedly with your summing up of the worst offenders!

 

For the sake of accuracy (and to stop hobonomics experts and conspiracy theorists) we were told that "The AGM would probably be in April. The accounts would be out in the next couple of weeks and the AGM 30 days later"

 

Debt wise it was "gift" (presumably write-off) or "equity swap" or combination of the 2.

 

I think we were told that the shirt deal was already signed but to "wait and see" who it was.

 

Does that mean its not Ukio? Result...there must be someone out there with a bit of insider info

 

Other than that OUTSTANDING news, the finances sound like they're making good progress as well which is good.

 

Cheers for the info chaps

[rossthejambo]

Thanks for that. I'm afraid I don't understand how it would work in our case: it sounds like Vlad swapping the debt he is owed for shares he already has.

 

 

He's basically creating more shares which he is then more or less buying from the club to write off debt....I think, someone with a bit more financial knowledge will probably explain it better than me though

[Craig Herbertson]

Thanks for that.It all seems very positive now,but they need to get the new stand sorted one way or another,they have been dragging their heels far far to long!

 

Thanks to everyone for the info. Very informative and very positive.

[Buffalo Bill]

Does that mean its not Ukio? Result[/img]

 

I believe the new sponsor is a company called 'UBIG'.

[dunxjambo]

David Southern also make a ood point in relation to the club's dealings with the media in that if you want to find out what actually happens at the club, the best way to find it si via the club itself on the website or facebook or twitter.

basically hard copy newspaper circulation is dying and the way forward is alternativemedia communications via the internet & iPhones etc.

david stated that the web site has approx 100000 subscribers which is pretty much close to the circulation figs of the two highest producing newspapers (no nmaes).

also the paers tend to predominate with OF info which means other clubs news is ignored so the best place for info about your club is getting it from your club & not the west coast based media outlets.

[Drylaw Hearts]

UBIG/UKIO will never get value for money for sponsoring Hearts.

 

They are taking a possible ?200k per year out of the big kitty by having their name on our shirts.

[Guest JamboRobbo]

David Southern also make a ood point in relation to the club's dealings with the media in that if you want to find out what actually happens at the club, the best way to find it si via the club itself on the website or facebook or twitter.

 

Equally, if the club want people to trust and rely on what is put on the website, the club have to be seen to be honest in what they put on the website - good AND bad.

[Gibbo]

The equity in the club is the money that the shareholders have provided as the share capital of the club. VR and his companies own over 95% of the equity of the club. Minor shareholders including fans hanging on on the rest.

 

A debt for equity swap is normally carried out if there is no prospect of the business being able to pay back the debt it has taken on. The equity shareholders normally see their % of the club diluted away, sometimes entirely, as the debt holders change their claim on the club from debt to equity - a weaker financial claim in the event of bankruptcy. They basically give up some of the security of their claim in order to take ownership of the business. It is slightly different in our situation where the main creditor is also the owner of the club - it really does not mean a change in ownership.

 

Debt forgiveness is something different again - this I think is the first time it has been mentioned. Perhaps there are different tax implications of debt for equity/debt forgiveness?

 

 

There has already been one instance of debt forgiveness by VR. It was for about ?2m worth of the former SMG convertible. I agree that it'll be down to tax whether he forgives debt or swaps it for equity.

[Ray Winstone]

Sounds like a very positive meeting....however this has been the case in the past and we have been left disapointed.

 

Hopefully this time we will see positive results.

[Guest JamboRobbo]

There has already been one instance of debt forgiveness by VR. It was for about ?2m worth of the former SMG convertible. I agree that it'll be down to tax whether he forgives debt or swaps it for equity.

 

Indeed, he forgave us part of what UBIG saved via the SMG conversion, and kept a part for UBIG (about 700k IIRC).

[Paolo]

He's basically creating more shares which he is then more or less buying from the club to write off debt....I think, someone with a bit more financial knowledge will probably explain it better than me though

 

 

 

 

 

Pretty much that. It means that as the overall club value is not higher, but there are more shares, each individual share will be diluted and worth less, but as UKIO have more of them, they will own the same value wise, but percentage wise, they will own more.

 

This can be good for all because.

 

1. Other shareholders are in a small minority, with most, like me, owning a minimal amount and the fact UKIO own enough to vote things through it will make little difference to controls of the club.

 

2. UKIO are not losing out as they own the same value wise. They own a bigger stake though and this is good if they were to get the club back on a osund financial footing and were then to sell as they would get a bigger cut.

 

Under the circumstances, for me it is a good thing, but if it was an outsider and the level of owenrship was different, then it might not have been.

[DG_HMFC]

I just watched the whole 90 mins of the Q&A. Very enjoyable, and some very good questions asked. What's pleases me most is the positivity regarding the stadium development and servicing the debt, that shows the club are moving in the right direction.

 

Note: The drunk guy that asked a couple of questions is an erse.

[Ryan Gosling]

I just watched the whole 90 mins of the Q&A. Very enjoyable, and some very good questions asked. What's pleases me most is the positivity regarding the stadium development and servicing the debt, that shows the club are moving in the right direction.

 

Note: The drunk guy that asked a couple of questions is an erse.

 

I believe said drunk guy is mentally handicapped.

[Seymour M Hersh]

The equity in the club is the money that the shareholders have provided as the share capital of the club. VR and his companies own over 95% of the equity of the club. Minor shareholders including fans hanging on on the rest.

 

A debt for equity swap is normally carried out if there is no prospect of the business being able to pay back the debt it has taken on. The equity shareholders normally see their % of the club diluted away, sometimes entirely, as the debt holders change their claim on the club from debt to equity - a weaker financial claim in the event of bankruptcy. They basically give up some of the security of their claim in order to take ownership of the business. It is slightly different in our situation where the main creditor is also the owner of the club - it really does not mean a change in ownership.

 

Debt forgiveness is something different again - this I think is the first time it has been mentioned. Perhaps there are different tax implications of debt for equity/debt forgiveness?

 

I'm sure there was a ?xm debt forgiveness regarding the money we owed to the media mob from the weej. Or am I miles off base.

[Buffalo Bill]

I believe said drunk guy is mentally handicapped.

 

70s's-style terminological post, imo.

 

 

'Person with exceptional mental capabilities'

[Feeno]

I believe said drunk guy is mentally handicapped.

 

 

Am I a bad person for laughing at this post?

[Ryan Gosling]

Am I a bad person for laughing at this post?

 

No you are not.

[rossthejambo]

Am I a bad person for laughing at this post?

 

 

Not only are you bad, but you're going to burn in hell

[DG_HMFC]

I believe said drunk guy is mentally handicapped.

 

 

Certainly didn't seem handicapped, just steaming drunk.

[dunxjambo]

i believe he does suffer from a disability of sorts and was not drunk.

[Ryan Gosling]

Certainly didn't seem handicapped, just steaming drunk.

 

Gonna be honest here. He looked handicapped.

[dunxjambo]

must have knocked back an awful lot btwn 6 & 7 if he was "steaming" drunk and if its the guy i think ur talking about (Maroon jersey?) he wasn't steaming drunk.

but it might be someone totally different?

[rossthejambo]

Gonna be honest here. He looked handicapped.

 

 

I know I shouldn't.......

 

 

 

 

 

but

[DG_HMFC]

Gonna be honest here. He looked handicapped.

 

 

I wasn't there so I could only hear the question being asked on Hearts.TV. I don't intend to offend anyone and certainly not a Disabled person.

[Feeno]

I wasn't there so I could only hear the question being asked on Hearts.TV. I don't intend to offend anyone and certainly not a Disabled person.

 

 

Its ok, yer spazz approved!

[PTBCAL]

I wasn't there so I could only hear the question being asked on Hearts.TV. I don't intend to offend anyone and certainly not a Disabled person.

 

Back tracking post imo

[DG_HMFC]

Back tracking post imo

 

 

[TheBigO]

This thread started informtative and positive and descended into hilarity. Nothing on here i don't like and it's over 90 posts long. i think this is a JKB first!

 

Jim Jefferies should be burnt at the stake (when he leaves Hearts) for verily he is a purveyor of the black arts. he seems to use his powers for good though, like Harry Potter or Dexter

[colinzeal]

Some interesting points made, have no interest in what they have to say about the new stand, will believe it when I see it.

 

I also think COs vision of the new SPL sounds terrible and really hope it does not come to fruition. It sounds to me for the bigger clubs to get richer and the poorer Clubs to flounder. It is also another example of over-complicated nonsense, just like the split.

 

Good to hear Nade is a goner.

[super_vlad]

Some interesting points made, have no interest in what they have to say about the new stand, will believe it when I see it.

 

I also think COs vision of the new SPL sounds terrible and really hope it does not come to fruition. It sounds to me for the bigger clubs to get richer and the poorer Clubs to flounder. It is also another example of over-complicated nonsense, just like the split.

 

Good to hear Nade is a goner.

 

 

TBF it was the first time i reliased that a 14 team or even 16 team league would not work because of the lack of income. What about if the league cup games were 2-leg affairs ?

[Old School]

Good to hear Nade is a goner.

Great news.

[bighusref]

All good stuff folks.

 

Unless I have missed it, was there much about the playing squad? Incomings/outgoings?

[Ryan Gosling]

All good stuff folks.

 

Unless I have missed it, was there much about the playing squad? Incomings/outgoings?

 

 

JJ has 2 or 3 definites he wants to go for, wouldn't comment on whether KK wa sone.

[Coco]

I'm sure there was a ?xm debt forgiveness regarding the money we owed to the media mob from the weej. Or am I miles off base.

 

Yes I had forgotten about the former SMG debt, as confirmed by Gibbo above.

[wright1989]

FAO The woman about the smoking GTF! If you don't want burt don't stand round the back, thank you.

[mintmyster]

It was a great night, made all the more entertaining by Scott Wilson as compere. JJ was very forthright in his answers and (although I couldn't hear every word said) was quite honest with the answers provided to questions posed to him by some on subjects ranging from Goncalves, training methods, players having more input (than should be the case) into whether or not they played (because of injury), etc, etc.

 

If the exercise is repeated I would recommend those who didn't get there last night make an effort to attend. All of the directors / people at the top table made a real effort to mingle with supporters at half time. I saw Serj actively walking up to people and introducing himself in an effort to strike up a conversation.

 

Well done to all.