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When an asset becomes a daunting liability

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By on CQN BLOG & Comments

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. thomthethim on

    celtic first,

     

     

    That makes sense.

     

     

    So, Derry is a city,which hosts some of the finest people I have ever known.

  2. Auldheid on

    Thomthetim

     

    I am a big fan of the books of John Powell SJ and I picked it up from one of his works. A very inspirational author whom I believe is plugged into the source of well BEing that manifests itself in so many forms , including the original Christ mind that works on the basis that love never fails. (The trick being what love is and that is for each to discover).

     

     

    A wee favour.Im on mobile and copy pasting is a mare. Can you copy over the whole post?

     

    Thank you.

  3. Fess19 on

    CITIES, London. Rome, Paris, Brechin! Whits in a name?

     

     

    Huns needed in SPL? I read on one of our sites that Aberdeen when they had a wee run in Europe a few years ago that they needed to sell 150 season tickets to make up for the huns visiting Aberdeen twice a year.

     

    If Celtic, as reported would only be playing to around 30,000 at Celtic Park, be affected by having RIFCin the SPL. Do they expect SEVCO fans to come along and fill the stadium when we play Ross County? (was going to say RC but that would be a definite no no).

     

    Can someone please inform me how the SPL gate money is split. Who would get the biggest cash benefit playing RIFC home & away. Full stadium at Tannadice (providing they get ticket money) and a full Ibrox. How much would D.U get and how much to A.N. other for both gates.

     

     

    HH

  4. 16 roads - Neil Lennon walks on water. on

    Derry is a city.

     

     

    And that is that.

     

     

    Except that it’s not.

  5. proudbhoy on

    16 roads – neil lennon walks on water.

     

     

    13:17 on 3 May, 2013

     

    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.

     

     

    —

     

     

    Agreed. They are slowly on there way out. Not ready for the big bad world the white man had planned for australia .

     

     

    All is not rosy In this part of the world.. Far from it.

  9. proudbhoy on

    Brian shivers found not guilty for the murder of 2 british soldiers in antrim a few years back.

     

     

    Brian has been through alot since that murder, arrested. Released then re arrested again all while suffering a very serious illness.

  10. oglach on

    If any oul fecker choses to ‘dis’ Derry again it’s fistycuffs I tell ya, fistycuffs!!

     

     

     

     

     

     

    BogsidepugulistCSC

  11. TwoMacaroons on

    So Derry City, being in N Ireland, play their fitba in The Republic. As do Swansea an now Cardiff play in the EPL. Yet Uefa say they will not sanction teams from other countries playing in different leagues. Well sorry uefa but you already do. Anyone know of any other examples?

  13. 16 roads - Neil Lennon walks on water. on

    TwoMacaroons

     

     

    Teams from England that play in Scotland,Berwick? Not sure though.

  20. Tallybhoy on

    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.

     

     

    ………………………………………………………………………………………………………………….

     

     

    Was there not a pub in Kilwinning called that?

     

     

    BMCUW should know!

     

     

    HH!!

  21. thetimrieper on

    TwoMacaroons

     

     

    Think its teams from different associations, Cardiff and Swansea

     

    will have F.A. membership. Berwick will have S.F.A membership.

     

     

    HH

  22. jude2005 is Neil Lennon \o/ on

    Must be Friday HT is giving it the old \o/ up there!! Hail Hail.

  23. Folly Folly on

    tomtheleedstim

     

    12:50 on

     

    3 May, 2013

     

    Huns official site – “signings must be right fit”

     

     

    I read that as “signings must kick with the right fit”.

     

     

    Silly me …

     

     

    FF

  24. TheBarcaMole on

    TwoMacaroons 13:38 on 3 May, 2013

     

     

    A.S. Monaco……….

     

    A.C. San Marino………..

     

     

    TBM

  25. jude2005 is Neil Lennon \o/ on

    ubB

     

     

    Neil aint going anywhere and I think ur on the wrong site!! Neil knows we want him. So run along now nothing for you here.

     

     

    HaiL HaiL

  27. cliftonville celt from belfast on

    TwoMacaroons

     

     

    Derry City were given special permission due to the war.

     

     

    IFA & FAI both agreed also – IFA after being put under pressure from memory. Derry City couldn’t guarantee visiting supporters safety & the RUC couldn’t go into the Brandywell without full back up of troops, tanks, armoured personnel carriers & helicopter support. Derry were allowed entry in 1985 I think.

     

     

    Donegal Celtic tried to argue the same case as they were not allowed into the Irish League as the only other team who would play in West Belfast were Cliftonville. UEFA denied their application to move to the FAI on every occassion even after the Irish Cup match in the early 90’s when the Linfield fans attacked their players on the pitch & the RUC attacked us fans (the one & only time I went to watch DC as it was a novelty to see a Celtic team in the Irish Cup) with plastic bullets and baton charges.

     

     

    UEFA have a history of not allowing clubs to move association & actually going out of their way to oppose it – however if the big TV companies & sponsors state otherwise this stance will change overnight !

  29. TwoMacaroons on

    thetimrieper

     

    13:47 on 3 May, 2013

     

     

    That’s true, but Derry City used to play in the north, just got this from wiki as I’m no expert on this, there probably are other examples around Europe.

  30. Mea Culpa on

    It is of tremendous comfort reading about Sevco’s plans to have Dave King at the helm, no-doubt funding Sally’s warchest to sign up the best players available (without seeking to gain a competitive advantage though – thank you LNS) and the on-going MSM campaign to bypass every rule in the book.

     

    Quite clearly, the Sevconians haven’t learned a damned thing.

     

     

    Hell mend them!

  31. mcgrory1888 on

    OUT OF THE RUINS (of Scottish Football)

     

    OUT FROM THE WRECKAGE (of Asbestosdome)

     

    CAN’T MAKE THE SAME MISTAKE THIS TIME

     

    “WE ARE THE PEOPLE”

     

    THATS WHAT THEY CLAIM

     

    THEY ARE THE ONES WE LEFT BEHIND

     

    I WONDER WHEN THEY’RE EVER GONNA CHANGE

     

    LIVING UNDER THE STENCH, TILL NOTHING ELSE REMAINS.

     

     

    WE DON’T NEED ANOTHER SEVCO

     

    WE DON’T NEED TO KNOW THE WAY HOME

     

    ALL WE WANT IS LIFE BEYOND BIGGOTDOME.

     

     

    HHx2

  32. unionbearBhind on

    10,000 shares just been sold/bought for some reason no sold/bought info put up looks dodgy could this be the beginning of the end & now this has been posted on lse share chat?

     

    Heard from reliable sources that SFA meeting early next week is to decide if the footballing licence will be suspended or possibly revoked.

     

    Whether this happens or not the effect of even having the meeting to discuss this will cause a large fall in the share price. I strongly advise to sell, may be worth buying again post SFA meeting – but that obviously depends on the outcome of that meeting.

     

    Reason for the meeting is that the directors have been given the initial findings of the investigation in to the takeover and it doesn’t look very good.

     

    Cut your losses sell now!

  33. Celtic Mac on

    Paul67 et al

     

     

    And on the same day Paul, Coventry FC have announced that they are looking for somewhere to play their home games next season stating that they have been locked out of the Ricoh (or should that be Rico) Stadium by owners ACL over unpaid rent. That same fate could await both Hearts and Sevco given that the football grounds they currently occupy are, or could be owned by third parties. Only one team in Paisley? Don’t you believe it!

  34. leftclicktic on

    tamstered=SC003487

     

    11:53 on

     

    3 May, 2013

     

    leftclicktic

     

    have you given the thought that it might be early?

     

    —————

     

    BRILLIANT :))

     

    Just Emailed them on their early kind thoughts :))

  35. TwoMacaroons on

    cliftonville celt from belfast..

     

     

    I remember seeing that game against linfield on the news.

  37. TheBarcaMole on

    unionbearthreedivisionsbehind…………

     

     

    Wrong meeting but hey thank you for sharing……………..

     

    Eh!!!!!!!

     

     

    TBM

  38. The Moon Bhoys on

    Henr1rik at 13.30,

     

     

    Great news if it comes to fruition, wonder how it would pan out if they did revoke the license, presumably they would have to re-apply and if successful start at the bottom all over again, unless of course their good buddies at the SFA bail them out, as has been noted on here previously, its easy to see why Campbell Ogilvie has been left in place, so as to bail them out as an when required. How I wish they were gone permanently.

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