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Hearts get the knock from HMRC; Well, it's been coming.
Topic Started: Nov 7 2012, 02:02 PM (6,191 Views)
Naebody
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Twat
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It begins.

Posted Image

Will any bookmaker still make a price on Dundee staying up?
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reekie
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lum raker
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Oh my.

No doubt this will give rise to any number of opinion pieces linking this with the demise of oldRangers.
I think I'm right in saying that would be a red herring though. This is undoubtedly a hell of their own making.

Um...is it wrong that my second thought, after "oh my", was "ooh, maybe Rudi will be at tannadice a little longer than anticipated"?
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Naebody
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Twat
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Oh, my.

http://www.heartsfc.co.uk/articles/20121107/the-future-of-heart-of-midlothian_2241384_2973347

Quote:
 
Today the Board of Heart of Midlothian plc is writing to you with the express wish that every supporter provides emergency backing for the club.

This is not so much a request as a necessity.

[cutting a bit]

Without the support of fans there is, as we issue this note, a real risk that Heart of Midlothian Football Club could possibly play its last game next Saturday, 17 November against St Mirren.

This isn't a bluff, this isn't scaremongering, this is reality.
Blackmail. Nice.

Quote:
 
Discussions on whose name is above the door, talk about how the money has been spent and debate on whether the investment in silverware has been appropriate is all natural but quite simply worthless at this moment in time.
It's "quite simply worthless" to ask where all the money's gone when you're giving the club more money? Interesting.

Quote:
 
The only valid debate now is how can you help the club. Is the club worth less than £110?
Currently, yes.

Quote:
 
This club has been supported for the last seven years by generous funding from the majority shareholding business Ukio Banko Investicine Grupe (UBIG) and we continue to seek the support of UBIG at this stage. However, no business is immune to the financial realities of the current global economy and for this reason the club's reliance on its supporters is greater than at any point in the last seven years.

Our partners, our opponents, media, football bodies, many others - all are watching and judging how we will respond to the challenge. If we cannot demonstrate that we are united and we represent a force then there will be no due respect to the club from anyone around.
A somewhat tenuous shot at using the Chic Green playbook.

Quote:
 
Without your help now, we could be entering the final days of the club's existence. There are limited options for the Board of Directors to take to avoid the catastrophic consequences that a funding shortfall would mean for the club.

In a footballing sense alone Hearts will suffer an immediate 17-point penalty. This would just be the start of a painful process that will affect every one of us and could lead to far more damaging actions that threaten the very existence of the club.

The power is still in the hands of every Hearts supporter and for that reason we want to be as honest and transparent with you in the hope that you, too, believe that this club is worth saving.
Hm. Strange typo. "... we want to be as honest and transparent with you" ... That suggests it previously said "we want to be as honest and transparent with you as possible", which is probably a more accurate statement (in the sense of not being honest and transparent, as usual).
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Morvant's Finest
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Tommy McLean
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Ouch, doesn't sound good at all.

Interested to read this yesterday:
Quote:
 
Hearts hope to raise £1.79m with a share offer that will give supporters a 10% stake and Robertson has been enlisted to support the campaign.
"This is a call to arms," Robertson told BBC Scotland. "It's as simple and straightforward as that.
"We need all the Hearts fans to help, if they can. The club is in serious, serious trouble."
The Edinburgh club are currently disputing a demand from HMRC for £1.75m relating to a number of loan players that were at Hearts from 2005.
But director Sergej Fedotovas has insisted that none of the money raised by the share issue will be diverted.
What made the fans think that?? ^o)
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reekie
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Naebody
Nov 7 2012, 04:19 PM
In a footballing sense alone Hearts will suffer an immediate 17-point penalty. This would just be the start of a painful process that will affect every one of us and could lead to far more damaging actions that threaten the very existence of the club.
I'm confused by the clashing tenses in this bit.
First, it seems the points penalty is a foregone conclusion but then it goes all, "would be", suggesting that it's only one potential avenue.
Probably just bad copy from an office bod but still, a bit iffy for an official statement.
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Cobardon
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Uncle Smurf
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reekie
Nov 7 2012, 04:31 PM
Naebody
Nov 7 2012, 04:19 PM
In a footballing sense alone Hearts will suffer an immediate 17-point penalty. This would just be the start of a painful process that will affect every one of us and could lead to far more damaging actions that threaten the very existence of the club.
I'm confused by the clashing tenses in this bit.
First, it seems the points penalty is a foregone conclusion but then it goes all, "would be", suggesting that it's only one potential avenue.
Probably just bad copy from an office bod but still, a bit iffy for an official statement.
Given the press releases that have been emanating from Tynecastle in the past few years, the tense control has been the least pressing of issues arising.

Does seem serious though: perhaps close to terminal. Those big proddy institution football clubs aren't doing so well in the last wee while. Still, Rangers will be happy as it's proof of 'armageddon' without them.

Though, of course, Hearts were faves for admin years ago. The only shock is that it's taken them this long to reach this life-support stage.

Still, unlike the Huns, I'd say they've got more of a chance of getting out of admin too. Most of the debt's to Vlad isn't it?
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Naebody
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Twat
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I'd suggest that, interestingly (your mileage may vary), the press release doesn't look like the work of Romanov. The tense changes and typos are clumsy but they suggest someone is trying to censor themselves in their native language rather than trying to bluster in someone else's.

The paragraph you note, Cob, is preceded by "limited options for the Board of Directors to take to avoid the catastrophic consequences that a funding shortfall would mean for the club." In the first draft there was probably a sentence saying something about administration, which would make the "Hearts will suffer an immediate 17-point penalty" a statement of fact. But, if you know you're going to enter administration, you can't go raising money and continuing to trade as if you're solvent. That's illegal, and is probably why the middle sentence disappeared.

Administration, when it comes, will raise the question of how long Hearts has been trading while insolvent. It wouldn't be a massive surprise to see Romanov making himself scarce before that question is asked. That press release, I suggest, carries a sense that Romanov is already making himself scarce.

By the way, I do hope the Hearts story doesn't become a footnote to Rangers, because this one has the makings of being a lot more interesting.
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IainArab72
Craig Brewster
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Wasn't Romanov in for United a while back? (Can't remember when - just after McLean era or during ET's tenure?)

We've had a lucky escape.
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TheDean
ALLEGEDLY CALICO
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A clean administration now could leave Jambos still within sight of the Dees and a club back in hands of the fanbase would be more sustainable.
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Skeletor
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f*cking papish plot the lot of it, first Rangers now Hearts, and Celtic beating Barcelona. SEND THEM BACK!
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Setenza
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Knitting with only one needle
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If they are bluffing and overplaying the risk, it'll be pretty clear quickly if they are. Putting money into any team right now seems a bit crazy.

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Skeletor
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Am I the only one who gets targeted advertisements for "Mature Dating"?
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reekie
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lum raker
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Skeletor
Nov 8 2012, 01:33 PM
Am I the only one who gets targeted advertisements for "Mature Dating"?
Nah, I get them too.
Although it's currently Furniture Village at the bottom of this thread.
I see we're getting Bespoke Suits at the bottom of the Saville Row thread.
Google-ads and I evidently have the same sense of humour.
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zico
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Ivan Golac
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reekie
Nov 8 2012, 04:41 PM
Skeletor
Nov 8 2012, 01:33 PM
Am I the only one who gets targeted advertisements for "Mature Dating"?
Nah, I get them too.
Although it's currently Furniture Village at the bottom of this thread.
I see we're getting Bespoke Suits at the bottom of the Saville Row thread.
Google-ads and I evidently have the same sense of humour.
Rangers have got some cheek offering hearts half a million now to settle wallace deal but wanting them to forego 300,000. Ermmm no chance. If 800,000 is outstanding then to honour the football debts mr green tries a fast one. Romanov says gtf.
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Setenza
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Looks like hearts have came to an arrangement with HMRC. So they're saved once again...

Hope all that money raised was well spent.
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