Sydney from Sydney Posted March 28, 2010 Share Posted March 28, 2010 Could be a Peebles moment but I've had a look and can't see this posted. This was in the Scotsman today. Football news: Romanov ready to reduce ?30m debt at Hearts Premium Article ! Published Date: 28 March 2010 HEARTS owner Vladimir Romanov is set to boost the club's off-field fortunes this summer by wiping out part of their ?30million debt, according to Tynecastle director Sergejus Fedotovas. The banker's right-hand man Fedotovas has told supporters the board are considering ideas of how to reduce their financial problems and could write off part of the debt, which is lodged with Romanov's Ukio Bankas in Lithuania, as a gift. Hearts, w ADVERTISEMENT ho will announce a marginal increase in their arrears when the latest set of results are released in the coming weeks, had their financial position eased in July 2008 when ?12m of debt was converted into shares. Fedotovas said: "We are looking to address the debt, hopefully after this season ends. We'll be looking to address the debt situation with either a gift of the debt to the club, or swapped into equity ? or it will be a mix of both possibilities. I can't give you exact details of when or what amounts that will be but we're in discussions. Primarily we are looking to do it this summer." Link to comment Share on other sites More sharing options...
Bozi Posted March 28, 2010 Share Posted March 28, 2010 yweah...but...but.....the hoboconomists will STILL say he is not interested anymore and by reducing the debt he is lulling us into a false sense of security and the bulldozers will, still be lining up in June....no?? Link to comment Share on other sites More sharing options...
Francis Albert Posted March 28, 2010 Share Posted March 28, 2010 The Scotsman - all the week old news that's fit to print? Link to comment Share on other sites More sharing options...
Howdy Doody Jambo Posted March 28, 2010 Share Posted March 28, 2010 The Scotsman - all the week old news that's fit to print? Yeah are a Johnston Press title printed in Glasgow to the cost of over 120 Edinburgh jobs Why would anybody from the Capital buy any of their titles ? Link to comment Share on other sites More sharing options...
Tasavallan Posted March 28, 2010 Share Posted March 28, 2010 Glen Miller is missing. Link to comment Share on other sites More sharing options...
Craigieboy Posted March 28, 2010 Share Posted March 28, 2010 He'll sell the stadium man. We're ****ed. . Link to comment Share on other sites More sharing options...
Hearts Heritage Posted March 28, 2010 Share Posted March 28, 2010 The Mary Celeste has been discovered in the Atlantic Ocean unmanned and apparently abandoned. Link to comment Share on other sites More sharing options...
Victorian Posted March 28, 2010 Share Posted March 28, 2010 vermins dusting off the old 'smoke & mirrors' card as we speak. Link to comment Share on other sites More sharing options...
The Broo Posted March 28, 2010 Share Posted March 28, 2010 very old news. the quotes all come from the Ask the Club Night last Monday and were carried in some papers last Wednesday. It's obviously taken the Scotsman a little longer to print some Hearts related good news..... Link to comment Share on other sites More sharing options...
JamboAl Posted March 28, 2010 Share Posted March 28, 2010 yweah...but...but.....the hoboconomists will STILL say he is not interested anymore and by reducing the debt he is lulling us into a false sense of security and the bulldozers will, still be lining up in June....no?? Not only the hoboconomists - there are many promininent posters on here whose silence is deafening. Link to comment Share on other sites More sharing options...
Cade Posted March 28, 2010 Share Posted March 28, 2010 tick tock youz yams fuds are goin down etc etc etc etc *yawn* Link to comment Share on other sites More sharing options...
Independence Posted March 28, 2010 Share Posted March 28, 2010 It also confirms how anti Vlad the press in Scotland are and particularly the Scotsman publications. The Scotland on Sunday had this as a very small, couple of paragraphs, article. Can you imagine how big the article would be if it was an announcement that the debt may or was going to increase. Vlad has made many many mistakes but it is clear that he is not about to walk away and is here for the long term! Just as well as I have not heard of any 'white knight' approaching! Rangers are in a far worse state! Link to comment Share on other sites More sharing options...
Ben Dover Posted March 28, 2010 Share Posted March 28, 2010 What an embarrassment to the Capital that paper later became...........can we just blame all their peesh on the weege now though Link to comment Share on other sites More sharing options...
JamboAl Posted March 28, 2010 Share Posted March 28, 2010 It also confirms how anti Vlad the press in Scotland are and particularly the Scotsman publications. The Scotland on Sunday had this as a very small, couple of paragraphs, article. Can you imagine how big the article would be if it was an announcement that the debt may or was going to increase. Vlad has made many many mistakes but it is clear that he is not about to walk away and is here for the long term! Just as well as I have not heard of any 'white knight' approaching! Rangers are in a far worse state! You don't have to be in the press to be anti-Vlad. I repeat, there are some prominent posters on here and the silence is deafening! Link to comment Share on other sites More sharing options...
Independence Posted March 28, 2010 Share Posted March 28, 2010 You don't have to be in the press to be anti-Vlad. I repeat, there are some prominent posters on here and the silence is deafening! Spot on! The silence is deafening because it does not suit their agenda!!! Link to comment Share on other sites More sharing options...
Mikey Gardiner Posted March 29, 2010 Share Posted March 29, 2010 great if true and if fedotovas has quoted then it could and hopefully be true. Link to comment Share on other sites More sharing options...
Clerry Jambo Posted March 29, 2010 Share Posted March 29, 2010 It also confirms how anti Vlad the press in Scotland are and particularly the Scotsman publications. The Scotland on Sunday had this as a very small, couple of paragraphs, article. Can you imagine how big the article would be if it was an announcement that the debt may or was going to increase. Vlad has made many many mistakes but it is clear that he is not about to walk away and is here for the long term! Just as well as I have not heard of any 'white knight' approaching! Rangers are in a far worse state! Sure I read at the weekend that the Debt will rise again in the next set of accounts, not a surprise really. I'm sure we all hope that Vlad does "gift" the club but by what means we will have to wait and see. Stadium ownership concerns me but I admit to not knowing enough about how the stadium ties in with Vlad's ownership, I presume its his anyway! Link to comment Share on other sites More sharing options...
Andrew Gilbert Wauchope Posted March 29, 2010 Share Posted March 29, 2010 The Mary Celeste has been discovered in the Atlantic Ocean unmanned and apparently abandoned. Tomorrow's edition will carry an exclusive "Hibs win the cup, only a year after Queen Victoria's sad demise". Link to comment Share on other sites More sharing options...
Mister Dee Posted March 29, 2010 Share Posted March 29, 2010 If David Murray had announced this, the Media would be fighting with each other to get a live broadcast onto the TV. Chico would wet himself with excitement (again). Link to comment Share on other sites More sharing options...
Independence Posted March 29, 2010 Share Posted March 29, 2010 The Scottish press are a disgrace! I for one was delighted when Mr Romanov treated them, a few years ago, as animals by offering them bananas. Why...because they are and are certainly no friend of the Hearts. Link to comment Share on other sites More sharing options...
Maroon 1874 Posted March 30, 2010 Share Posted March 30, 2010 If David Murray had announced this, the Media would be fighting with each other to get a live broadcast onto the TV. Chico would wet himself with excitement (again). How about 'excrement' instead Link to comment Share on other sites More sharing options...
Coco Posted March 30, 2010 Share Posted March 30, 2010 I think that the debt forgiveness might be roughly the same size as the club's operating losses so that tax isn't payable. The rest will likely be debt for equity. These sorts of capital restructurings are normally a sign of financial distress and that the creditors see little chance of servicing/repayments of the debt. However in this case it would tidy up UBIG's position somewhat while at the same time penalise them for their previous cavalier financial running of the club. If there is significant debt for equity/debt forgiveness it would give a significant boost to the club's financial position on a stand alone basis. I hope that we will see these sorts of measures and then the club run on a more sustainable ongoing financial footing. Link to comment Share on other sites More sharing options...
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