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. CQN Saturday Naps Competition – Week 38 & 39 results & standings

     

     

    No winners in week 38. Only 2 winners in week 39 :

     

    Som mes que un club (Westwiththenight @5/2)

     

    leftclicktic (Art of Racing @5/4)

     

     

    +£17.85 green T (13)

     

    +£16.91 Bada Bing (7)

     

    +£16.50 Che (5)

     

    +£13.00 Rockon Neil Lennon (11)

     

    +£ 3.00 voguepunter (4)

     

    -£ 1.00 BULL67 (9)

     

    -£ 1.22 Valentine’s Day (7)

     

    -£ 1.50 What is the Stars (6)

     

    -£ 6.25 Som mes que un club (7)

     

    -£ 6.75 Cathal (6)

     

    -£ 9.50 Magnificentseven (6)

     

    -£11.50 fleagle1888 (4)

     

    -£13.88 Sixteen roads to Golgotha (4)

     

    -£15.88 Glen (5)

     

    -£16.17 MHARK67 (5)

     

    -£19.63 leftclicktic (5)

     

    -£21.50 tommytwiststommyturns (3)

     

    -£25.00 bobbymurdoch’s winklepickers (4)

     

    -£29.80 TheBarcaMole (2)

     

    -£30.97 hunza rugli (2)

     

    -£34.00 gerry_bhoy (1)

     

    -£39.00 gourockbhoy

     

    -£39.00 Raymac

     

     

    *No selections (wk 38 – CQN server change-over) :

     

    Bada Bing, bobbymurdoch’s CUW, BULL67, gerrybhoy, Glen, hunza rugli, Magnificentseven, Raymac, Rockon Neil Lennon, TheBarcaMole, What is the Stars.

     

    *Non-runners (wk 38) – MHARK67 (Mash Potato)

     

     

    *No selections (wk39) :

     

    Glen, hunza rugli, Raymac, TheBarcaMole, WhatistheStars

     

     

    Cheers, fleagle1888

  2. Doc

     

     

    I should still be on for 25th hopefully!!

     

     

    BMCUW

     

     

    Nothing said that the rest weren’t thinking M.

  3. 16 roads - Neil Lennon walks on water. on

    NatKnow – “We welcome the paper-chase…”

     

     

    – Brilliant retort hahahaha! Who am i to argue with that yin?

     

     

    :)

  4. Show Racism the Red Card is

     

    extremely disappointed by the

     

    leniency of the SFA’s sanction.

     

    While Charles Green was Chief

     

    Executive Officer of a Scottish football

     

    club he used an offensive and racist

     

    term in the national press.

     

    Mr Green subsequently criticised our

     

    organisation for stating that his

     

    language was highly offensive and

     

    completely unacceptable for someone

     

    in his high profile position.

     

    We had welcomed the SFA’s decision

     

    to take action but hoped it would be

     

    more commensurate with the damage

     

    Mr Green has done to the campaign

     

    to eradicate racism from Scottish

     

    football.

     

    This sanction is particularly

     

    disappointing given the recent

     

    statements by UEFA.

     

    We cannot have one rule for fans and

     

    another for CEO’s of clubs. This

     

    small fine sends out the wrong

     

    message. Show Racism the Red Card

     

    welcome UEFA and FIFA both taking

     

    the issue of racism more seriously.

  5. Hamiltontim on

    Starry

     

     

    Keep me posted mate.

     

     

    VP

     

     

    Ye I didnae appreciate yer 4:40am text!!! ;-)

  6. Burgas Hoops on

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

  7. Steinreignedsupreme on

    tomtheleedstim 12:50 on 3 May, 2013

     

    Huns official site – “signings must be right fit”

     

     

    I thought Charles had left the building but he appears to be still writing the headlines.

     

     

    ———–

     

     

    Ally Absolutely is asked about ‘transfer targets’ every time he is ‘interviewed’ in a press conference.

     

     

    The finer details like the transfer embargo and Sevco playing in the fourth tier of Scottish football are neither here nor there to the jokers asking stupid questions.

     

     

    Then there is the major sh1t-storm that is about to engulf Ibrox – the one they are all pretending is not about to happen…

  8. voguepunter on

    HT

     

     

    Hope it woke ye up…still I spoil yir boyish good looks this morn?

     

    NIghtshift forgot what time it was :0)

  9. thetimrieper on

    SPL team of the year.

     

     

    Darren Randolph (Motherwell)

     

     

    ADAM MATTHEWS

     

    Shaun Hutchison (Motherwell)

     

    KELVIN WILSON

     

    CHARLIE MULGREW

     

     

    Nicky Law (Motherwell

     

    VICTOR WANYAMA

     

    Andrew Shinnie (Inverness CT)

     

     

    Niall McGinn (Aberdeen)

     

    Michael Higdon (Motherwell)

     

    Leigh Griffiths (Hibernian)

     

     

    Seems our defence is not as bad as we sometimes think.

     

    No Fraser and no forwards.

     

     

    HH

  10. thomthethim on

    Auldheid,

     

     

     

    “We are God’s gift to ourselves. What we make of that is our gift back to God. It would be a shame to return the gift unopened.”

     

     

    *****

     

    That is the most beautiful and pertinent piece of prose that I have read on here, or anywhere.

     

     

    God Bless your spirituality.

  11. tomtheleedstim

     

     

    12:50 on 3 May, 2013

     

    Huns official site – “signings must be right fit”

     

     

    could mean-

     

     

    Being the correct choice

     

    Being very attractive

     

    Not of the Catholic persuasion

     

     

    Still trying to make up my mind which.

  12. 16 roads - Neil Lennon walks on water. on

    TheBarcaMole

     

    13:02 on

     

    3 May, 2013

     

    And the second CITY of the Empire is/was ?????????????

     

     

    TBM

     

     

    —————————————-

     

     

    Was it the Gorbels per chance?

     

     

    Ah well,one for the hun:

     

     

    http://www.youtube.com/watch?v=Mx7M35sxlno

  13. Afternoon Celts.

     

     

    Philvisreturns get yir Green tory arse back here yir missed, if only to put that old firm loving HT in his place.

     

     

    Thumbs up CSC

  14. voguepunter on

    Starry as soon as I sent it ,I thought………hope it wakes the bass up :p

     

    Sorry HT

  15. 16 roads – neil lennon walks on water.

     

     

    12:52 on 3 May, 2013

     

    proudbhoy – You are relentless my friend.

     

     

    I have no idea if Perth is a city or a town,or a swamp – as i have never been there,therefore i do not consider myself qualified to speak or pass judgement on the said place.

     

     

    Also,i have no intentions of ever going there.

     

     

     

     

    I like learning . From your earlier advice i reckon perth is a town.

     

     

    Bit boring to be a city.. I wouldnt visit either.

     

     

    Alot of fine tims here.

  16. NatKnow - "We welcome the paper-chase..." on

    burgas hoops

     

     

    13:00 on 3 May, 2013

     

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

     

     

    A life sized diamond encrusted human skull. Failing that, a

     

    Packet of Tangfastics.

     

     

    Weirdly you’re the second person to ask that question today and receive my response. Actually, is that you Stevie??!

  17. voguepunter

     

     

    I had a Mate like you in Glasgow in the 80’s, wouldnae think twice of gaining entry to my flat and breenging in to my room at all hours..

     

     

    “Alright hen whit’s your name, got any skins??”

     

     

    A legend in his own weekend!!

  18. tomtheleedstim on

    Steinreignedsupreme and goldstar10 – I was reading that sentence in Yorkshire accent!

  19. voguepunter on

    Feksake it will no happen again…….who keeps their phones

     

    next to their beds anyway?

  20. NatKnow - "We welcome the paper-chase..." on

    Whether town or city, Perth W.A. Has the best named pub on the planet called simply….Fenians.

  21. NatKnow - "We welcome the paper-chase..." on

    starry plough

     

     

    13:13 on 3 May, 2013

     

    voguepunter

     

     

    Well you never know when Beyonce is gonny ring!!

     

     

    Lol!

     

     

    Pete&DudCSC

  22. thomthethim on

    My understanding is that a City Charter was granted to the town which was a Bishopric and had a Cathedral, as the seat of a Bishop.

  23. 16 roads - Neil Lennon walks on water. on

    proudbhoy – I honestly don’t know anything,or enough about that Australia place to comment upon the said “country”.

     

     

    But heaven only knows they are ripping the heart out of mother earth in that God forsaken land,so they are.

     

     

    It is the poor natives that i pray for,the indigenous folk.that are cast by the wayside in a land that is being exploited for greed.

     

     

    In yer own time my friend,in yer own time.

  24. kikinthenakas on

    Starry

     

     

    PM me on FB your arrival time and I’ll nip up and pick yooz up!

     

     

    Hungover csc waiting for he cure!

     

     

    Kikinthenakas

  25. Burgas Hoops on

    Pod I

     

     

     

    Waterproofs and a brolly

     

     

    That bad eh?

     

     

    NatKnow – It’s not Steve, but it was a genuine offer -))))

  26. natknow – “we welcome the paper-chase…”

     

     

    13:12 on 3 May, 2013

     

    Whether town or city, Perth W.A. Has the best named pub on the planet called simply….Fenians.

     

     

     

    Haaha true , havent been in for a booze up yet so dont know how good it actually is.

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