When an asset becomes a daunting liability

1665

With Ukio Bankas bankrupt there is an acceptance that Hearts, who owe the bank in the region of £15m, will go into administration shortly after the end of the season.  This might not be the case.

Hearts major problem is their major asset, Tynecastle Stadium, which occupies a valuable patch of land in Edinburgh.  If administrators acting on behalf of Ukio have free access to the stadium they may shut it and look to recoup their loans by selling the land.  There is a possibility Hearts could be a football club without a stadium, but that does not necessarily mean they will go into administration.  Without a stadium to use the club would be liquidated but there is a possibility they would be able ground-share.

Hearts tested the land value before the property crash and received an offer of £22m from a house builder.

Alternatively the bank’s administrators could use their considerable influence over how the club is managed to sell their shares or come to some other arrangement (Ticketus, anyone?). When the major creditor has this much control of the company without administration, going through the formal process could actually harm their chances of getting their money back.

Hoops 4 Haiti, who assist in the relief of poverty and suffering in Haiti, are holding a traditional Irish music night at Roderick Dhu on Waterloo St, Glasgow on Saturday 11 May.  Live entertainment and a buffet for only £7.50, get your tickets here.  You can find out more about Hoops 4 Haiti here.
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  1. Awe_Naw_No_Annoni_Oan_Anaw_Noo on

    Been Dazed and Confused for so long it’s not true.

     

    Wanted a woman, never bargained for you.

     

    Lots of people talk and few of them know,

     

    soul of a woman was created below.

     

     

    You hurt and abuse tellin’ all of your lies.

     

    Run around sweet baby, Lord how they hypnotize.

     

    Sweet little baby, I don’t know where you’ve been.

     

    Gonna love you baby, here I come again.

     

     

    Every day I work so hard, bringin’ home my hard earned pay

     

    Try to love you baby, but you push me away.

     

    Don’t know where you’re goin’, only know just where you’ve been,

     

    Sweet little baby, I want you again.

     

     

    Been dazed and confused for so long, it’s not true.

     

    Wanted a woman, never bargained for you.

     

    Take it easy baby, let them say what they will.

     

    Will your tongue wag so much when I send you the bill?

     

     

     

    Going down like a ?CSC

  2. GlassTwoThirdsFull on

    The SFA have been storing this up since Neil had his two bans overlap two years ago. But he should know better than to give them any opportunity to get him.

  3. normanstreet49 on

    Burgas Hoops

     

    13:00 on

     

    3 May, 2013

     

    Red hot on the Black-Sea again, heading into cash & carry anyone want anything?

     

     

    ************************************************************

     

    aye see if you can bargain my camera, young lads playstation, new trainers, etc etc, back from my last time in sunny beach…….

     

    last time ever……

  4. Joe, I agree we must win the Final first, if you read my post I started by saying “Wouldn’t it be great IF we won the Cup etc.”.

  5. GlassTwoThirdsFull on

    corkcelt,

     

     

    How do we know how the vote would work? They could vote on an SPL2. It gets accepted, THEN they decide who is in it.

  6. the only tme I enjoy really wet Friday nights is when the background music, a few streets away , is the flutes and drums of the Toytown soldiers out marching.

     

    A good few sashes get their first wash for months tonight, cheers!

  7. GlassTwoThirds Full @ 1849

     

     

    So..

     

     

    Ye noticed..tae??

     

     

    Guid Fur You!

     

     

    Kojo

     

     

    Still.. Laughin

  8. Joe Filippis Haircut on

    corkcelt. No problem fella I like your plan but the current jeckyl and hide performances from the hoops doesnt fill me with confidence. H.H.

  9. If they voted for an SPL2 without knowing what teams it comprised of, then we could officially declare that the lunatics were running the Asylum and pack up football and start following Ladies Hockey.

  10. Fanandpatriot – had that thought when the price reduction originally announced. Buying season tickets early makes our influence weaker. I will be holding off renewing until it becomes clearer.

  11. Awe_Naw_No_Annoni_Oan_Anaw_Noo on

    I like what Neil is doing.

     

     

    I would do the same.

     

     

    HH

  12. GlassTwoThirdsFull on

    corkcelt,

     

     

    The lunatics are well and truly in the asylum. Remember the shenanigans last year?

  13. Why doesn’t Neil just advise the SFA that he’ll be investigating himself like Sevco are doing :)

  14. fanadpatriot

     

     

    If that were to happen, there sure will be a lot of angry Tims out there.

     

     

    It’s scotland, so you never know, they all want the hun pound, and the powers just want them regardless.

  15. For the wet behind the ears Celtic fans who think that

     

    Celtic’s bored will fight their corner – choon in please.

     

    How many kicks in the stones will it take before the Celtic

     

    fholk realize that – never mind the spivs etc over at the orcdome

     

    what about the faceless wonders at CP ? Isn’t time to

     

    sort oot oor aen hoose before we start mocking the afflicted ?

     

    Fholk in glass hooses – CSC

  16. Neil Lennon received a 3 match suspension for swearing. The 3 match ban was a suspended sentence from last season. To be banned for swearing is ridiculous in the extreme but now the SFA have gone a step further by charging him with breaching the 3 match suspension by being in the “playing area” within 15 minutes of the end of Sunday’s game. In other words, he was in the dressing room within 15 mins of the final whistle blowing – not exactly exerting his influence on the game. He will no doubt receive another ban – probably for the cup final.

     

    These petty and vindictive actions against Neil Lennon were taken by the same body that conferred associate membership of the SFA to Sevco that allowed them into SFL3 when they didn’t meet the entry requirements. That associate membership was conditional upon Craig Whyte having no involvement whatsoever with the club. It has been disclosed that Whyte was registered as a director when Sevco was admitted into the SFA so they got in under false pretences. Have the SFA taken the appropriate steps and rescinded Sevco’s membership, which would render them unable to fulfil their remaining fixtures and therefore forfeit their 1st title. Erm…..NAW!!!

     

     

    SFA – Corrupt to the core.

     

     

    Starryhope

  17. Not writing off the Hibees at all, just leave the trophy there for there for the world press to have a gander at and ask why? If we win of course.

  18. I see cowdenbeath in the breakaway ten . That’s rangers represented then , is the singing QC not something to do with them . Its getting to the stage , we don’t know who is with us and who is against us . surprised at lenny getting into bother again , he knows they are after him . But its a pity no one has a link to the cardigan in the tunnel at the game he was banned from , from there we could maybe do a little whitabootery of our own .

  19. The brown brogue brigade have started their warm-up marching in ML2 this evening.

     

    Lovely weather for it!

     

     

    Starryhope

  20. swatson Neil Lennon's 6ft skinny twin! on

    jungle jam67

     

     

    Lower division clubs raised a no confidence vote last year, not sure if it was for Ogilvie or Longmuir but it was blocked by Ballantyne.

     

    Maybe someone can confirm this or correct any inaccuracies?

  21. harryhoodsdugbitme on

    Evening. I got my 4 cup final letters through the week. I called today and the last tickets available were for row b Celtic end. That’s below pitch level…Aaaarghhh. I recall sitting at the home game v Arbroath. I took a photo of the ‘crowd’ and sent it around tagged’ WTF. I still have frost bite from the return leg. There has to be a better way for those who ‘lucky’ enough to buy tickets for the early rounds to get first pick at the final FFS. JUSTFELTLIKEAGREET CSC. HH.

  22. starryhope

     

    brown brogues ? manky grey plastic slip-ons is the marching gear in ML2 and scuffed white stilletos for the sisterhood.

  23. starry , we really shouldn’t be getting annoyed about all of this save sevco campaign , after all our club have not once stood up and been counted , they just accept everything that’s thrown at us . looks like they will be back sooner rather than later .

  24. I see the vendetta against Neil Francis continues apace… They must be really, really scared of him.

     

     

    Meanwhile Sevco- whose entire existence is predicated on multiple lies it would appear – remain untouched by Ogilvie and chums.

  25. It would be great if 1 of the bampots could write a blog about every instance that’s happened in Scottish football with rule breaking to Dougie Dougie @ Hugh Dallas

  26. I’ve got a confession to make for years I was a Hibs Supporter and my greatest thrill was seeing Hibs beat Celtic.

     

     

    Was just going to leave the post like that and wait for reaction but maybe discretion is the safest form of valour. From time to time some posters call me CorkCeltic and it brings to mind my youth. When I was a kid Soccer was huge in Cork there were 2 teams Cork Hibs & Cork Celtic from different parts of the City, I lived a stone throw from the Mardyke where Hibs played and was an absolutely fanatical Supporter, Local Derby day was huge and boy but did I celebrate whenever Hibs beat Celtic.

  27. jmccormick

     

     

    18:52 on 3 May, 2013

     

    the only tme I enjoy really wet Friday nights is when the background music, a few streets away , is the flutes and drums of the Toytown soldiers out marching.

     

    A good few sashes get their first wash for months tonight, cheers!

     

     

    I prefer a right good roasting instead of the rain, heatstroke takes longer to get over, plus losing a few pounds might help the NHS

  28. My hero Neil Lennon if you read this blog, keep the head up mate they’re trying to drive you out.

     

     

    Neil you came through worse than this and I have confidence you’ll do the same again.

     

     

    They don’t want a settled manager winning title after title, 10IAR here we go.

  29. On ITN News at 6.30…Nigel Farage being followed down the street by a posse of snapping photographers…one sporting a hoops top.

     

    Gaun yirsel son.

  30. jungle jam67 on

    starryhope

     

    19:03 on 3 May, 2013

     

     

    well said

     

    every little rule with regards celtic football club is met with a notice of complaint from the sfa

     

     

    meanwhile over at ipox

     

    unpaid fines

     

    rule breaking

     

    threats against other clubs and staff

     

    no accounts

     

    directors unfit to run a football club

     

     

    regan.ogilvie and longmuir all assist an a club in their first year carry on

     

    where the last 1 finished

     

     

    corrupt to the core

     

    FTSFA

     

     

    timetostanduporshutup csc

  31. Joe Filippis Haircut on

    corkcelt..Its ok you have learned the error of your ways better late than never.H.H.

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