Finance Director Offski

[Diadora Van Basten]

My recollection of the complexities of the deal are vague, but I'm pretty sure the conditions were for ?4m for a certain number of shares and a ?4m repayable loan. I'm fairly sure (although admittedly, I could be talking crap) that LD quit on the basis that Hearts were not in a position to take on further debt at the time.

 

The repayable loan was the sore point with Deans, Robinson assumed that SMG would convert the loan into share capital hence no need to be repaid. Deans said what if they don't we will have to repay that money and where are we going to get the money?

 

For the record the loan was not converted and Robinson had to try and sell the ground so that he could repay the money.

[Diadora Van Basten]

When Hibs fans post on JKB pretending to be Jambos, it usually means Hibs are in trouble.

 

Your wrong if you think I am a hobo I am Hearts thru and thru. I am though in a position where I understand the finances of the club more than most and am concerned.

 

Unfortunately this leads to sometimes getting labeled a Hobo by the sheep on this board. I don't think I am alone in my concerns and even Roman Romanov has said that we need to sort out the balance sheet.

[Genghis Khan]

I am though in a position where I understand the finances of the club more than most and am concerned.

 

The repayable loan was the sore point with Deans, Robinson assumed that SMG would convert the loan into share capital hence no need to be repaid. Deans said what if they don't we will have to repay that money and where are we going to get the money?

 

For the record the loan was not converted and Robinson had to try and sell the ground so that he could repay the money.

Hobonomics.

 

Robinson had to sell the ground to pay back ?4M tom SMG? I like the way you casually brush over the other ?17M of debt he got us into and the fact that HBOS had refused to loan HMFC any more money.

 

You're clearly an expert in your field - is that you Stewart?.

[Francis Albert]

My recollection of the complexities of the deal are vague, but I'm pretty sure the conditions were for ?4m for a certain number of shares and a ?4m repayable loan. I'm fairly sure (although admittedly, I could be talking crap) that LD quit on the basis that Hearts were not in a position to take on further debt at the time.

I think that's close to it - the numbers may have been slightly different but close enough. I don't think any business, especially a loss-making one, would turn down an offer of ?8m on condition that if asked you would have to repay ?4m in a few years. It is, as they say, a no-brainer. To be fair to Deans I suspect he was more concerned that the deal, assuming as proved to be the case that SMG would back CPR, strengthened CPR's grip on the club. And as we saw CPR's mismanagement could soon fritter away more than ?4m or ?8m.

[Guest Bilel Mohsni]

Your wrong if you think I am a hobo I am Hearts thru and thru. I am though in a position where I understand the finances of the club more than most and am concerned.

 

Unfortunately this leads to sometimes getting labeled a Hobo by the sheep on this board. I don't think I am alone in my concerns and even Roman Romanov has said that we need to sort out the balance sheet.

 

 

SANDI... It was tounge in cheek. Just a pun.

 

I have no idea if you are a Hobo or a Hearts fan... Hell of a conclusion to jump to about struggling businesses though, exactly the sort of desperate straw-clutching that obsessed wee freaks like SirGay jump to in their fantasies about us going bust. If people do sometimes think that you are a Hobo then... Perhaps you bring it on yourself slightly... No?