Jambothroughandthrough Posted August 31, 2011 Share Posted August 31, 2011 If you have a spare 30 mins..... http://swissramble.blogspot.com/2011/08/romanovs-battle-for-hearts-and-minds.html Apologies if posted already.... Link to comment Share on other sites More sharing options...
AVB1874 Posted August 31, 2011 Share Posted August 31, 2011 If you have a spare 30 mins..... http://swissramble.blogspot.com/2011/08/romanovs-battle-for-hearts-and-minds.html Apologies if posted already.... Read this yesterday, quite a good read! Link to comment Share on other sites More sharing options...
Jambothroughandthrough Posted August 31, 2011 Author Share Posted August 31, 2011 Read this yesterday, quite a good read! Did it take you all of yesterday to read it? I'm not even half way through. I could be here for a while Link to comment Share on other sites More sharing options...
londonjambo Posted August 31, 2011 Share Posted August 31, 2011 Apology accepted. GC Link to comment Share on other sites More sharing options...
Jambothroughandthrough Posted August 31, 2011 Author Share Posted August 31, 2011 Apology accepted. GC I couldn't see that it was posted. I'm sure it will be removed then. No big deal. Link to comment Share on other sites More sharing options...
Wolfstar Posted August 31, 2011 Share Posted August 31, 2011 Did it take you all of yesterday to read it? I'm not even half way through. I could be here for a while Depends how you look at it.... we have big debt blah blah blah or Vlad owes vlad money, he has wiped off around ?29m through debt swap schemes and while he is still here we will be safe. When he goes at worse we will be in the same condition as we were under the pieman. He has wiped off the interest every year on the debt (i think this is wihtin the ?29m figure) We are probably in a safer position than most SPL clubs, so bit of a waste of a read when you really think of it... could of been a 1 line piece that said 'hearts finances, vlad does what vlad wants, and so far what he wants is fine' Link to comment Share on other sites More sharing options...
I.T.K Posted August 31, 2011 Share Posted August 31, 2011 If you have a spare 30 mins..... http://swissramble.b...-and-minds.html Apologies if posted already.... Apology accepted. Link to comment Share on other sites More sharing options...
Harry Palmer Posted August 31, 2011 Share Posted August 31, 2011 I couldn't see that it was posted. I'm sure it will be removed then. No big deal. Think it was posted 2wks ago as dated. As you say no big deal. Swiss Ramble usually does a blog each week, take a year to read but a good read. He's an Arsenal fan so he's probably in hiding at the moment. Link to comment Share on other sites More sharing options...
jamboruss Posted August 31, 2011 Share Posted August 31, 2011 I'm sure Sir Gay will LOVE this! Link to comment Share on other sites More sharing options...
Victorian Posted August 31, 2011 Share Posted August 31, 2011 Link to comment Share on other sites More sharing options...
Boris Posted August 31, 2011 Share Posted August 31, 2011 Apology accepted. Apology accepted. Couldn't help but be reminded of this.... Link to comment Share on other sites More sharing options...
Coco Posted August 31, 2011 Share Posted August 31, 2011 Depends how you look at it.... we have big debt blah blah blah or Vlad owes vlad money, he has wiped off around ?29m through debt swap schemes and while he is still here we will be safe. When he goes at worse we will be in the same condition as we were under the pieman. He has wiped off the interest every year on the debt (i think this is wihtin the ?29m figure) We are probably in a safer position than most SPL clubs, so bit of a waste of a read when you really think of it... could of been a 1 line piece that said 'hearts finances, vlad does what vlad wants, and so far what he wants is fine' There is one key aspect where the financial position of the club is far worse than under the Pieman and that is the valuation of the key asset of the club - Tynecastle. Valuation will have slumped since Pieman's days. The finances of UBIG are opaque and that is the issue which is of most concern with regard to the club's finances. If UBIG enters financial problems then so will Hearts. Link to comment Share on other sites More sharing options...
AVB1874 Posted August 31, 2011 Share Posted August 31, 2011 Did it take you all of yesterday to read it? I'm not even half way through. I could be here for a while I'm not going to lie... I skimmed over a lot ha!! Link to comment Share on other sites More sharing options...
Francis Albert Posted September 1, 2011 Share Posted September 1, 2011 There is one key aspect where the financial position of the club is far worse than under the Pieman and that is the valuation of the key asset of the club - Tynecastle. Valuation will have slumped since Pieman's days. The finances of UBIG are opaque and that is the issue which is of most concern with regard to the club's finances. If UBIG enters financial problems then so will Hearts. Just as well we escaped from the clutches of HBOS before they "entered financial problems". Link to comment Share on other sites More sharing options...
Coco Posted September 1, 2011 Share Posted September 1, 2011 Just as well we escaped from the clutches of HBOS before they "entered financial problems". Not sure what your point is? HBOS allowed Hearts to run up debts to the point where debts pretty closely equalled assets. Appalling and in line with their other appalling financial mismanagement right across football and in the wider bank which necessitated nationalisation. But by not allowing debts to go beyond asset levels it did mean that the Hearts business had options to continue in business i.e. to sell Tynecastle - even if the bank had foreclosed. UBIG have allowed Hearts to run up debts to a point way in excess of assets. If UBIG enters financial distress their creditors could assume control of Hearts - and there are not enough assets to pay off those creditors. HBOS' financial information was available, UBIG's is not. Last time it was available, UBIG had a big balance sheet with lots of money owed to someone. Link to comment Share on other sites More sharing options...
Francis Albert Posted September 1, 2011 Share Posted September 1, 2011 Not sure what your point is? HBOS allowed Hearts to run up debts to the point where debts pretty closely equalled assets. Appalling and in line with their other appalling financial mismanagement right across football and in the wider bank which necessitated nationalisation. But by not allowing debts to go beyond asset levels it did mean that the Hearts business had options to continue in business i.e. to sell Tynecastle - even if the bank had foreclosed. UBIG have allowed Hearts to run up debts to a point way in excess of assets. If UBIG enters financial distress their creditors could assume control of Hearts - and there are not enough assets to pay off those creditors. HBOS' financial information was available, UBIG's is not. Last time it was available, UBIG had a big balance sheet with lots of money owed to someone. My point was simply that yes we are at risk if UBIG go bust. HBOS, but for the taxpayer bail out, did go bust and would have been under great pressure to foreclose on Hearts assets if we had at that point still owed them. I am not sure how different or much better a situation Hearts would have been in, with no Tynecastle and no assets in those circumstances, than we would be in the as yet hypothetical case of UBIG going bust and their creditors forcing the sale of Tynecastle. In either case Hearts would continue if there remained a viable business after foreclosure, and in either case would not if there wasn't. Link to comment Share on other sites More sharing options...
Guess The Crowd Posted September 1, 2011 Share Posted September 1, 2011 My point was simply that yes we are at risk if UBIG go bust. HBOS, but for the taxpayer bail out, did go bust and would have been under great pressure to foreclose on Hearts assets if we had at that point still owed them. I am not sure how different or much better a situation Hearts would have been in, with no Tynecastle and no assets in those circumstances, than we would be in the as yet hypothetical case of UBIG going bust and their creditors forcing the sale of Tynecastle. In either case Hearts would continue if there remained a viable business after foreclosure, and in either case would not if there wasn't. Your're absolutely correct. I think we'd all accept that the long term future remains uncertain, but it abslolutely doesn't bear thinking about what would have happened to Hearts in 2008, given the club's existing sitation and the banking crisis of that year, at which HBOS was at the forefront. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.