‘News’ that a football club can actually go out of business will come as a surprise to no one here as Hearts issued a statement saying “Without the support of fans there is a real risk that Hearts could possibly play its last game on 17 November.”
Hearts have two commercial problems: they owe HMRC money they don’t have and their running costs are greater than their income. They also have over £20m of debt owed to major shareholder, Ukio Bankas, which at this stage of their corporate existence is more of an asset than a liability.
The club have asked supporters to cough up around £2m to pay HMRC and see it through until the end of the season. A further £1.7m HMRC demand is being contested but should Hearts lose this appeal, that bill will crystallise quickly.
Unlike the now-defunct Rangers, Hearts major shareholder is due more than 75% of the debt, so Ukio could vote to accept a Company Voluntary Arrangement, possibly for as little as 1p in the £1, if the club goes into administration. This is a well-travelled road for Scottish football clubs who overwhelmingly fail owing shareholders or the bank the majority of their debt.
In this respect, there is no obvious reason why Hearts are in danger of playing their last game next week. Administration would allow the club to shed its debt, including the contested tax bill. It would almost certainly result in player redundancies, which would reduce expenditure below the level of income. Hearts would be diminished as a football club, and would take a 17 point hit in the SPL, but that is as bad as it needs to get. Ukio Bankas would take the largest hit on money they may well have already written-off.
The only thing I see for Hearts fans to worry about is the property value of Tynecastle. Ukio will almost certainly have a charge on all the club’s property assets. If the club disappears, they would be left with the real estate. Tynecastle is worth a whole lot more money as flats than as a football field.
When a company cannot pay its creditors it goes into administration and seeks to negotiate a settlement with them. Hearts can do this “within days if not hours”, as Our Hero once said. It’s just curious that Hearts are playing on the bring rather than sorting things out.
Maybe they could get former player and tracksuit salesman, Maurice something-or-other, to sell some of their assets.
The magnificent 1254125 charity cycle, from birthplace of Brother Walfrid, Ballymote, Co. Sligo, to Celtic Park, got underway yesterday. Today the six cyclists, Paul Muldoon (of this parish), Mark Cameron, Alistair Schulz, Robert Campbell Ray McFarland and Jim Kelly, left Blacklion on a 80 mile journey to Lurgan.
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BhoysOfOz..
Rod the Mod on Norton CH10..
Summa of CryinEyesCSC
Would any of you historians out there know when the Irish Land League ended? It’s just that they funded my grandfather’s gravestone : a large Celtic Cross, of course. (My mother and gran are also interred in the same lair, God rest them). He died in 1950, a couple of months after I was born. I was surprised that the Land League were still going strong then.
…….Right, got to shtart lifting shod………big job,……….you could say an odd job for the weekend……….but that’s no conshern of you guysh……
Off to the…….errr…… shed!
HH.
Watching Nancy v Rennes on ESPN.
Lots of empty seats, waiting for the guy to mention that this is due to the huns being in 4th tier football.
Well why not, its the reason for all that is wrong in the world according to the MSM!
The Celtic support have received worldwide acclaim for there tremendous display and backing of the team on Wednesday.
It would be very disappointing if we were to now lose some of that we’ll earned credit, due to someone voicing or showing there personal grievances against the poppy.
I would urge those that disagree with the poppy to stay away from the stadium if they feel that they cannot stay silent.
This is a difficult and delicate subject , especially for those who have been adversely affected by British armed forces in Northern Ireland.
The whole armistice subject has also been ambushed by the Orange order, and by Sevcovians .
They are using it as an excuse to parade their colours.
I feel it is a shameful exploitation of the sacrifices made by the wounded and fallen.
Having said all that.
It is my belief that we should show respect to friend or foe.
It is my hope that one day the bitterness that some feel towards there enemies will evaporate.
I hope that day starts tomorrow,and that all of the Celtic support show a dignified silence when requested, and make no visual banner that could insult neutral , friend or foe.
Let’s show them what real dignity and class is.
A67
Big article in the Daily Mail this morning about how badly run Hearts are and why those running the club are to blame for the financial mess.
Compare and contrast the media coverage of a former Scottish football club when it was in the you know what.
Why “thems” demise is good for Scottish football.
Remember games against “them”?. Remember the build
up?. Horrible. Wasn’t it?. Having “them” in our stadium spouting their bile. Even winning sometimes left a bad taste. Visiting ibrox never appealed to me.
I always felt Celtic and it’s fans ambition lay in making a reputation for themselves in Europe, that was and is our main objective.
Games against them were an unwelcome distraction. Build up a head of steam in Europe, then there’s a game to negotiate. How to prioritise. It was always Europe for us, but with their parochial mentality. beating us was the be all and end all. Ask any sevco fan what is the greater achievement, European Cup or the most league titles. And they mean it.
For me, the most obvious benefit is the way Lenny has been allowed to mature and concentrate on his vision for Celtic, without the unwelcome distraction they bring.
Give me Wednesday night anytime.
parkheadcumsalford
There is very good wiki article on the Irish Land League. Apparently, the Scottish Chapter of the Land League continued after Parnell disbanded the organisation after the Land War which ended in 1892.
I don’t know how that fits with your relatives gravestone, but there were other similar land organisations around at the time.
Hail Hail
Parkheadcumsalford
The Irish Land League,started in 1878,I don’t know when it finished but a number of branches developed so it may have been one of them.
I tend to think the heroic actions of the Fanad men on 2nd April 1878 may had been the spur to alight The Irish Land League in Mayo later on in that year.HH
A67- It is the only weapon they have against us now, the propaganda war, they are desperate for us to disrupt the silence, just in the same way they were desperate for us to disrupt the Silence on 2nd January 2011, but we proved that day we were above this and I’m sure we will do so again tomorrow.
Then a convincing 3 points to round off what has been a wonderful week for the club and the support.
ANDREW67
Difficult topic,mate.
I think you are right-if you disagree with the minute’s silence being foisted on us,just arrive a tad late.
I thought it was THE INJURED SERVICEMEN’S FUND-nothing to disagree with there-but it has most definitely been hijacked for nefarious and political ends.
That won’t stop me from donating,but I only wear it on the day. Each to their own…..
Remember in the mid 80’s the Celtic View had pictures of Sean Connery and his son at a game at Celtic Park.
Couldn’t say that makes him a Celtic Supporter but it sticks in my mind.
Of course he was also a guest and friend of Dodgy Dave at the Bigot Dome where he was know as John rather than Sean in case it offended the inhabitants of the blue room. (I made that up, but it ain’t far from the truth – Kevin Drinkell………)
ParkheadcumSalford – it’s a period I have a bit of interest in – not aware that it was still going in the 1950’s. Could it have been the Gaelic League or another Irish organisation?
That’s not to say it wasn’t, I’m open to correction.
Mick Davitt, by the way, stands along side James Connolly in my top two of Irish revolutionaries of all time (and not in Davitts case anything to do with the centre spot at Celtic Park – that’s just a bonus). Cut from the same cloth.
If you youtube ‘Andy Irvine Forgotten Hero’ you might find a great song about the man
I’m delighted to hear of Big Vic’s stated desire to remain at Celtic and how happy he is to be playing for us. If ever you wanted to see a player happy in the hoops, it’s the big yin.
I think he’s a superstar. Love ‘im.
HH
Lennon- legend.
Larsson-legend.
Not fooled by Hateley and like.
Sevco are desperate . They ll sell their soul for money.
In our most amazing week they can’t cope so let’s beware the MSM assault..
The ( Glasgow) Herald journalists are shameless in their Sevco PR..
Long ago I gave up on red tops.
Anyway. All hail Lenny. Good luck Henrik…
HH
Sat in my cab and I decided to read the barca live updates article from first post to last and it was brilliant !!!
Kudos to those posters who can type and put reasoned tactical stuff on during a night like that
I was too busy screaming at the telly (kicking every ball) or hiding behind the sofa.
If anyone hasn’t read the article from start to finish I would thoroughly reccomend they do so its funny, exciting, poignant and a bloody awesome read
HAIL HAIL
” Then a convincing 3 points to round off what has been a wonderful week for the club and the support.”
Goldstar, I hope so too mate. There are many clubs who aren’t too convincing before or after champions league games.
I really hope we copy our opponents from Wednesday and do what they did after they played us in Spain. Especially after our result up in Perth earlier in the season.
That said, I will forgive a slip this weekend due to the sheer joy the team gave me on Wednesday night.
Legend has it hateley could not put a sensible sentence together until he met HT a few times (in a professional manner)
Proof indeed Scottish Education is under funded.
southside
Was just talking about the disappearance of that horrible feeling that came with games against them.
Their death and absence from our football plans is a blessing :))
Ps I for one hope we never have to feel their horrible presence again
Where I live, the poppy issue is not an issue, and anyone I know would be surprised to hear that a well known rank rotten orange mob in Scotland is using it as a propagandistic stick to beat people who have no interest in wearing what has become a hubristic display of support for legalised murder, not a commemoration of the cruel deaths of millions and the futility of such slaughter as was its original intention, now usurped and cynically used by the most craven of cowards and manipulating politicians.
You wear it if you want. Equally you don’t wear it.
But above all, remember that war is horrific and legalised murder is failure on a grand scale.
Where is the care for the dispossesssed and those caught up in hellacious violence right now as we make a mockery in the UK of the devastating loss caused by spectacular and wanton waste of the young for the benefity of the privileged wealthy elite?
The more that changes, the more things remain the same.
The poppy: just one more symbolic tool to beat people with.
Despicable.
I must say that I am still reliving the release of power and joy when the second goal went in on Wednesday night. My first European match was Honved. I think Frank McAvennie scored with a lob of the goalkeeper. I had been to many matches on the old stadium before then but due to my old man insisting that I be fit for school in the morning, European matches were a no no.
I remember climbing the steps to the Celtic end and feeling the atmosphere build. I think I was about 11 at the time and had been to some games with a good atmosphere. I had also been to some that I probably didn’t understand. Davie Hays last match in charge was a confusing affair for a young apprentice supporter like me. I could sense within seconds that the Honved game was different. There was a hum rather like the constant noise experienced by those living in the shipyard towns on the Clyde. Like the industrial white noise the drone was comforting and warming. I felt surrounded by the noise and for the first time was starting to understand what can be achieved through a collective will. The coalescence of tens of thousands of collective minds.
Wednesday was another of those nights were any cloak of negativity was removed and the Celtic spirit electrified the occasion. This is what it is all about folks. Celtic, you , me and the universe collided on Wednesday night to put on a show that will live long in my memory and for that I thank you all.
MHARK67
10:28 on
10 November, 2012
——————
I just realised that I have not read back the live updates from the game,believe me that is a first, Thank you for reminding me
What a bonus for a day with no Hoops game
Che
Even my skills only stretch so far.
That’s why I’ve never worked in Lenzie ;-)
Geordie- Indeed, this is the one thing that is missing- the players’ ability to raise their game after a massive European week.
No more Killie debacles, please.
What is the minutes silence tomorrow actually for??
Genuine question not a cheap dig.
Cloudless blue sky , big sun , low 20s —– way down south .
San Martino tomorrow — make and eat Frittelle [ fried pastry ] and wash them down with the first of this year’s wine . Celebrate life and prepare for the winter..
Spoke with my nonagenarian father earlier . He is tired and hoarse from shouting at the tele on Wednesday night. He had a good wee rant re the absurdities of Poppy Fascism . He expressed a desire to create a trick poppy which would be attached by a tube to a wee rubber blood filled balloon , which when you squeezed it , would spurt blood . He said that he thought that those who wish to celebrate / remember war should , at the very least, be covered in blood .. He then moved on to General Haig being retrospectively charged with being a war criminal.—
Hamiltontim
10:45 on 10 November, 2012
‘What is the minutes silence tomorrow actually for??’
It purports to be an occasion for people to remember and show some respect for the war dead.
Especially for those who can’t be arsed to actually go to a Remembrance day ceremony.
In reality it’s to remind us that we are a martial nation and that being killed in the service of one’s country, whatever the cause, is somehow worthwhile. And to aid army recruitment.
HT
Maybe just as well
With your sense of direction you’d never find it.
Geography has obviously been removed from the curriculum.
So Hibs v Dundee Utd is today’s big game. Can the greens from Edinburgh overtake the greens from Glasgow – for 24 hours anyway?
Hamiltontim,
Its to entice the green brigade into breaking it and creating some nice juicy headlines to boost Mondays sales.
Hamiltontim
The silence ——— ?
Officially —-
” a reverent remembrance of the glorious dead “
Hamiltontim
10:45 on
10 November, 2012
What is the minutes silence tomorrow actually for??
Genuine question not a cheap dig.
I guess its about remembering those who died in the terrible wars of the last century or so.
Growing up, attending a Catholic school, and with relatives who fought for the British Army as well as the Italian Partisans, I always thought it was quite a poignant day.
s.o.t.
>>>
Your dad sounds like one helluva character.
I remember well some of my dad’s-out-of-the-blue rants and observations. Good, they were.
HH!
Che
If I was a real HT I’d give every pupil a Sat Nav.
See, easily sorted.
Thanks for replies.
ernie lynch
10:51 on
10 November, 2012I
n reality it’s to remind us that we are a martial nation and that being killed in the service of one’s country, whatever the cause, is somehow worthwhile. And to aid army recruitment.
while i agree ………sadly its also to help the poor b’stards in the armed forces who have been damaged mentally and physically. they get little or no help from the state.
i have to say, if any poppy, a white poppy which symbolizes our sorrow and regret for all the victims of war, not just a chosen few.
When did the practice of having a minute’s silence for Remembrance day at football grounds start?
Who decided it would be a good idea?
Why did they think it would be a good idea?
Andrew67 ……totally agree
BMCUWP…….ditto
Goldstar……….same
I agree regards the plaudits (rightfully) given to our support this week ,they did indeed extend worldwide ,Therefore if anyone so much as rustles a sweetie paper tomorrow the LL/MSM will be report it as a disruption of the silence (orchestrated coughing anyone ).
I do not wish to offend anyone but I also believe that this event has been hijacked by the peepil to score points against our support and I seriously believe that a lot of our media types would love nothing better than to see the silence disrupted .
If anyone feels they have to show any objection to this silence then IMO a football ground is not the place to do it .
Hail hail