Surely not.

 

http://www.bbc.co.uk/sport/0/football/22560806

Possibly

why not

granny knot

Whats the date for this? Obviously the last game of the season is this wknd, but can they announce announce administration in a wk, 2 wks and not face the points deduction this season - when in the eyes of the SPL does the season finish?

Sunday. Hearts will survive until then, just.

 

But the question seems to be whether their parent company might already have suffered an "insolvency event" as defined in the SPL rulebook which was not written in the context of how Lithuanian proceedings work.

Just heard on the news that there will be an Spl meeting on Monday to decide if Hearts have broken any rules and therefore would get a points deduction of 18 points that would relegate them.

 

http://www.bbc.co.uk/sport/0/football/22575459

Edited May 17, 201312 yr by djh222

Hope they go down .

Hearts staying up due to lack of evidence that they or their parent are insolvent. 

 

SPL statement:

 

"The board are not satisfied on the basis of information currently available to it that an insolvency event as defined by SPL rules occurred in respect of UBIG during 2012/13."

SPL also unable to ascertain whether or not the Pope is Catholic.

SPL also unable to ascertain whether or not the Pope is Catholic.

One of life's great imponderables, along with whether fish can swim, and whether Dolly Parton sleeps on her back.

For the benefit of younger listeners, Ms Parton is a country and western singer now of somewhat mature years who was perhaps more noted for having a couple of attributes  now more closely associated with the artist formerly known as Jordan.

From a few more bits of info that have come out more recently it would seem that UBIG had voluntarily registered themselves as being unlikely to meet fiscal responsibilities....in other words "we're likely to go into administration/liquidation very soon".  The law in Lithuania allows them up to 30 days to change their mind on that before any administration/liquidation process is put in place.

 

So, technically speaking, they had/have not yet suffered an "insolvency event" before the end of the season.

 

If Hearts want to avoid a 15 point deduction for next season (a third of previous seasons points, rounded up) then the club shares will need to be transferred away from UBIG before that insolvency event takes place.  Given how much money Hearts owe them, then I can't envisage that happening, but it would appear this new Scandinavian Consortium are desperate to try and do a deal before it does.

 

The chances of a further "twist" are also high.  Rules state that a club can get multiple deductions in one season if they are involved in more than one insolvency event.  That could mean they get 15 point deduction if UBIG go into administration/liquidation and a further 15 point deduction if the club itself goes into administration/liquidation.  Would be hard for them to argue that it's part of the same process given their ongoing claims that the club is running independently of UBIG at the moment and is not relying on any financial contribution from them and the situation there does not impact on them at all.

For the benefit of younger listeners, Ms Parton is a country and western singer now of somewhat mature years who was perhaps more noted for having a couple of attributes  now more closely associated with the artist formerly known as Jordan.

I'm sure she had a song where she implored Jordan not to take her man (just because she can).

Chickens now coming home to roost at Tynecastle, with the entire squad available for sale an d the club (again) being unable to pay wages or taxes.

 

The club statement puts their financial problems down to "unexpected circumstances".  Unexpected?!!!!!

Thnik theyve got to be favourite for the drop. They are going to lose players and the overall doom and gloom of their ever worsening situation is bound to have an effect on the players performance. Sad state of affairs.

 

Thats unless they suffer relegation as a punishment

Edited June 13, 201312 yr by ajsict92

Flats, flats, glorious flats...

Ha ha!

www.hmfc.com

I'm struggling to find much sympathy for their plight. You reap what you sow...Hearts have been on shifting sands for some time now.

It still irks me to look back to the League Cup semi and Hearts wheeling out 2 new players, Ngoo and Wilson who - although we could and probably should have won - had a significant impact on proceedings.

 

Yes, it's old ground, the Wilson saga and should be put-to-bed but in light of just how much financial plight Hearts obviously were in, it does annoy me.

 

That said, I don't wish the club to go under. Although I don't attend many away ICT games, the few occasions I've been down to Tyncastle have been great days/weekends out!

Flats, flats, glorious flats...

Down at Tynecastle they‘ll build....

It still irks me to look back to the League Cup semi and Hearts wheeling out 2 new players, Ngoo and Wilson who - although we could and probably should have won - had a significant impact on proceedings.

 

That, plus the fact that 3 sides of the ground was maroon, effectively making it a home game... 

 

Not that I'm harbouring any residual resentment...oh no....   

Yeah, everybody knew this day would come, but nobody stopped it. If the shoe was on the other foot, if ICT were bought by some Flash Harry and suddenly we were getting internationalists, paying 2k a week to players, and borrowing heavily, what could be done? How culpable are Hearts fans? The SFA, The SPL, etc.

In truth, if the team is winning the fans don't care, the SFA & SPL won't care especially if the investment is making a team compete with the duopoly that is the OF, this all helps improve the profile, entertainment and sell-ability of the league and finally the board and especially the 'rich' owners definately won't care as they are mainly ego maniacs and crave to be popular. In truth, so long as its all going well nobody will consider the consequences.

Maybe the league table should include extra points for clubs who can maintain some kind of balanced finances. Its crap that teams can continue to outbid others while racking up debt and moaning about their plight. Kilmarnock comes to mind for some reason.

 

When Mixu P (can't spell it) was in charge there he signed 5 foreign players in one go which must have increased their wage bill at a time their Chairman was pontificating about Scottish Football's financial worries and the need for change.

 

He won SPL Manager of the Month...  

Daily Record: "Hearts then went on to confirm the signing of Danny Wilson from Liverpool...The club then ended their statement with a further desperate appeal for cash and season ticket money from their fans...“our financial deficit can, in part, be attributed to our worst league finish in over 30 years last season.

“This had a significant direct impact on the business. Other factors that hit revenues include the absence of Rangers Football Club from the SPL and significantly increased stadium costs particularly in relation to the Main Stand.”

What a load of rubbish. You spent all your money, and then some, on wages. End of.

Edited June 13, 201312 yr by Kirishima

How can they be allowed to sign players when they cannot pay the wages of existing staff?