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. celticrollercoaster on

    Morning Vmhan

     

     

    Read back to post at 7:52. Your help is required

     

     

    HH

     

     

    CRC

  2. CRC, Doc is Neil Lennon, Hamiltontim and BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS:

     

     

    Just reading back Bhoys, I’m embarrassed, can’t believe I’ve been missed.

     

     

    I’ll give CQN the exclusive and not the MSM…Lennybhoy ain’t flounced but only try and post when I have something constructive to post.

     

     

    I would add that my friend of many years, Swanseabhoy tends not to post as often these day but I’m certain he lurks.

     

     

    I will not only support Neil Lennon and CFC until I die, I will support CQN until I die.

     

     

    Keep the Faith!

     

     

    Hail Hail!

  3. Murdoch McGrain Larsson

     

    08:03 on

     

    4 May, 2013

     

    ……………

     

    Blackpool Shammy @

     

    Waterloo social club

     

    St. Annes Road

     

    Blackpool

     

    Lancashire

     

    FY4 2AS

     

    01253 342 980

  4. Spiers is a mind reader, who would have thought it. From today’s Herald.

     

     

    ‘But the fact remains – and please take it as fact – that Lennon is frequently thinking over his future, as well he might, and as is his perfect right.’

  5. pedrocaravanachio67 on

    CRC

     

     

    I know, was away from the office best part of the day, really busy when I got back….definitely interested, but I will confirm by e-mail.

     

    What happened to the CQN identity quiz last night? :-)

  6. celticrollercoaster on

    pedrocaravanachio67

     

    08:16 on

     

    4 May, 2013

     

     

    What happened to the CQN identity quiz last night? :-)

     

     

    ———————————————-

     

     

    What do you mean? Slow this morn :-)

     

     

    HH

     

     

    CRC

  7. Murdoch McGrain Larsson on

    Vmhan,

     

    Thanks very much. Will you be there?

     

     

    Thanks also to Pedro & CRC. Very much appreciated.

  8. 67Heaven ... I am Neil Lennon..!!.. Ibrox belongs to the creditors on

    asonofdan

     

     

    08:15 on 4 May, 2013

     

     

    Someone needs to remind spiers that we all think about the future ….. Like his friends, he lives in the past…..

  9. Jobo Baldie on

    Good morning friends from a sleepy but dry and bright looking EK. Breakfast then ParkRun…

  10. MML

     

     

    Not going to be there amigo, going on hols to sunnier climes, I hope ye enjoy it.

     

     

    My mate Dunky will be on the door, tell him Vinny sent you and claim yir free cyber pint :>)

     

    V

  11. blantyretim on

    I know im confined to quarters doing nothing but reading back through last nigh was a complete waste of my useless time.

     

    .

     

    V

     

    Dont forget to tell hkm the orange is a disguise.

  12. pedrocaravanachio67 on

    CRC

     

     

    night oot…pictures of CQNers….put the face to the name!!!!

     

     

    Jeezo you were drunk :-)

     

     

    ACGR spoke to me re the 25th, canny make it unfortunately, but interested in the 5’s.

  13. Went to see Olympus has fallen yesterday, great fast action film, die hard at the Presidents hoose (thumbs up)

     

    Ps cheers for the free tickets Roberto.

  14. celticrollercoaster on

    pedrocaravanachio67

     

    08:25 on

     

    4 May, 2013

     

     

    Ha, ha yes. Coming back now! Never got the pic :-)

     

     

    HH

     

     

    CRC

  15. ArranmoreBhoyLXV11 on

    HH

     

     

    greeted by the sun… Lenny’s victimisation continues.. Can you imagine the furore if Lenny had a job in the civil service, medical world – anything..

     

    The great man IS being bullied right before our eyes.. Bullied by groups of people who patently don’t like him..

     

     

    Stand up for Neil Lennon at every opportunity..

     

     

    I swore at work yesterday, a good few times. I hurt my back. I called the walls everything.

     

     

    No compliance officer for me. Actually it was tea and sympathy ..

     

     

     

    STAND UP for NEIL LENNON!!!

  16. Sound familiar?

     

     

    Aldershot Town have entered

     

    administration following their

     

    relegation from League 2. They have

     

    debts totalling £1m, of which £300k

     

    is owed to football creditors. Player

     

    wages for April were not paid.

     

    Club chairman Shahid Azeem had

     

    been in talks with owner and majority

     

    shareholder Kris Machala over

     

    acquiring his stake in the club, but

     

    the talks broke down after Machala

     

    demanded proof of funds.

     

    Aldershot Town were founded as a

     

    phoenix club in 1992 after the old

     

    Aldershot FC was wound up.

  17. 67Heaven ... I am Neil Lennon..!!.. Ibrox belongs to the creditors on

    So sevco were introducing a football philosophy …… With greengo gone, someone should add it to fantasy football…. Would be a howl…..

     

     

    My first choice would also be Cruyff joining an SFL club …… Hahahahaha

     

     

    Starting to wish greengo had stayed…..silly bhuns

  18. celticrollercoaster on

    Lennybhoy…Supporting Neil Lennon and CFC until I die

     

    08:21 on

     

    4 May, 2013

     

     

    There is a speakers night being arranged. Looks good. Off out to 5s, but will email you when I get back

     

     

    HH

     

     

    CRC

  19. Ha ha Blantyre Tim, that’s the club across the street, same owners.

     

     

    It’s tangerine coloured after the local footie team.

     

     

    Away to walk wee Riley.

     

     

    V

  20. 'crushed nuts?' 'Naw, Layringitis!' on

    From today’s DR-jabba’s newest bestest friend:

     

    A PLOT to sack Ally McCoist was hatched at Rangers by one of Charles Green’s allies before the Englishman quit Ibrox.

     

     

    Thon boy Mather has a vivid imagination! :-)

  21. 'crushed nuts?' 'Naw, Layringitis!' on

    Damned by faint praise!! (From today’s Real Ranker Appeal in the DR)

     

     

    Asked if King would be a name the fans could trust, Gough said: “I am a personal friend of his and would like to see him do something at Rangers.

     

     

    “He has been under investigation in South Africa but if it was that bad he would have been locked up before now. It’s been going on for about 15 years

  22. The year of 1776 divided by 2 gives 888.

     

     

    What happened on the 1st of May 1776?

     

     

    Rebellion, remember?

     

     

    Tupac wisnae stupid but he wisnae as wise as a serpent, either.

     

     

    Knowing Shakespeare is never going to save you.

  23. Morning CQNers

     

     

    blantyretim 08:24 on 4 May, 2013

     

     

    Just done the same as you. Reading through the posts from the early hours of the morning I felt as if I was in a taxi rank at Central Station as the clubs emptied.For some strange reason I now fancy a kebab for breakfast.

     

     

    Anyway, off out for a 20 mile bike ride to shake off last nights red wine.

     

     

    God bless NFL and all things Celtic.

     

     

    And safe journey to BMCUW – try not to miss any trains.

     

     

    HH

  24. ASonOfDan

     

    08:15 on

     

    4 May, 2013

     

    Spiers is a mind reader, who would have thought it. From today’s Herald.

     

     

    ‘But the fact remains – and please take it as fact – that Lennon is frequently thinking over his future, as well he might, and as is his perfect right.’

     

     

    It really is sad to see Spiers’ decline as a journalist. This kind of rubbish I would associate with all those desperate hacks who couldn’t wait for MON to jump ship.

     

     

    But when you consider what is going on in Scottish football, with standards of corporate governance shredded and the actual ownership of The Rangers is serious doubt – then Spiers’ output is even more craven and cowardly.

     

     

    He – like 99% of his colleagues – has fumbled the biggest story in Scottish sporting history. A story packed with intrigue, scandal, double-dealing, hubris, and criminality (a journalist’s dream in other words).

     

     

    As “Rangers” head for their second liquidation in 12 months Spiers is engaged in a spot of tabloidesque mind-reading. And it’s wrapped up in that condescending “oh-all-this-mere-frippery-is-below-cultured-old-me” tone which Spiers has perfected.

     

     

    For all the kudos he garnered in his younger days, he really is little more than Keevins in corduroy.

     

     

    Lennon meanwhile has been one of the few figures to have talked up the Scottish game this year. His team have restored pride at European level, and at a time when the national team is at its lowest ebb, it is no exaggeration to say that Celtic truly are the only representatives of Scottish football on the world stage.

     

     

    For this he is patronised, villified, and persecuted by the SFA.

     

     

    Make no mistake they are all desperate for him to leave because they know he has the potential to be a very, very effective manager for Celtic.

     

     

    And the thought of a Generation of total Domination, led by Neil Francis Lennon, is just too much for the Sevconians to bear.

  25. Hamiltontim on

    Morning all from a currently glorious ML3.

     

     

    It appears we have yet another troll in our midst. They really are worse than the overt huns, I don’t know why they bother.

     

     

    FFM, thought you conducted yourself with humility and humour. Good on you.

  26. There will be a couple of nervous Scottish refs when they hear this.

     

     

    Michel Platini

     

    “I have asked the (UEFA) general

     

    secretary to record conversations

     

    between officials in matches

     

    involving five officials,” Platini told a

     

    news conference following a

     

    European Championship 2016

     

    organizing committee’s meeting in

     

    Lille in France, Friday.

     

    Thomas Mueller appeared to foul

     

    Jordi Alba before the German side’s

     

    third goal in their 4-0 first-leg win.

     

    “I don’t believe nobody saw the foul.

     

    Why was nothing said?” Platini asked.

     

    Platini said: “I understand the error of

     

    the referee who didn’t see the foul by

     

    Mueller. But there were three

     

    international standard referees

     

    involved and none of them saw it.

     

    Something is not right.” “If the referee

     

    were on his own, he wouldn’t have

     

    seen it, and two might not have seen

     

    it either but, between three, they have

     

    to see it,”

  27. blantyretim on

    BTW

     

    As P67 mentioned lasg week some readers text or emakl him to complain.

     

    I send our host a text this morning.

  28. Most users have been tweeting Alex Thomson non stop about his piece on journo’s, if only they would put same commitment into removing Campbell Ogilvie and his merry men from office the bold Hampden would be a glorious place.#toofar

  29. Hamiltontim on

    If NL does receive a further ban and the 15 minute post match exclusion is enforced I’d be tempted to not even collect the trophy and medals.

     

     

    The players could remain in the goal mouth at the Celtic end until the time has elapsed and then, with NL alongside, celebrate in front of the amassed Tims at the Kings Park slopes.

     

     

    Broonie should then hand over to the gathered officials a note with the inscriptions…..

     

     

    PLEASE FORWARD SILVERWARE TO CELTIC FOOTBALL CLUB, KERRYDALE STREET, GLASGOW.

  30. pedrocaravanachio67 on

    Off to watch the wee fella play footie, the sun is shining, have a good day y’all whatever yer up to.

     

    MM

     

    put they catalogues away :-)

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