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Heart of Midlothian 2014-


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Just now, Green Day said:

https://www.bbc.co.uk/sport/football/52836158

Phew, a close shave for George Gillett there, he almost bought a dud.

If his dad's anything to go by, that's the modus operandi. Buy struggling teams on the cheap, do them up and punt them on. However, it looks like it's going to be FoH that gets to hold the bag instead. Presumably after Budge has done what she can to bump up the team's market valuation by, say, keeping them in the top tier and keeping the top tier income stream. I'm sure nobody would want successful businesswoman Ann Budge to take a loss by moving on the club at a low-point in it's financial situation...

Come to think of it, wasn't the handover date this month sometime?

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If his dad's anything to go by, that's the modus operandi. Buy struggling teams on the cheap, do them up and punt them on. However, it looks like it's going to be FoH that gets to hold the bag instead. Presumably after Budge has done what she can to bump up the team's market valuation by, say, keeping them in the top tier and keeping the top tier income stream. I'm sure nobody would want successful businesswoman Ann Budge to take a loss by moving on the club at a low-point in it's financial situation... Come to think of it, wasn't the handover date this month sometime?

 

 

The FoH opted to delay the handover rather than execute it in the middle of a pandemic

 

I’ll try and find a link with the details

 

Edited to add

 

https://www.foundationofhearts.org/share-transfer-postponed-as-pledge-numbers-increase/

 

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4 hours ago, topcat(The most tip top) said:

 

The FoH opted to delay the handover rather than execute it in the middle of a pandemic

 

I’ll try and find a link with the details

 

Edited to add

 

https://www.foundationofhearts.org/share-transfer-postponed-as-pledge-numbers-increase/

 

Whats the script here with Gillett then?

I thought some sugar daddy couldnt come in to buy now that the FoH technically own the club?

I know there was some chat a couple months back about potentially altering the rules on %age ownership or something but thought that got bombed out.

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7 minutes ago, Green Day said:

Whats the script here with Gillett then?

I thought some sugar daddy couldnt come in to buy now that the FoH technically own the club?

I know there was some chat a couple months back about potentially altering the rules on %age ownership or something but thought that got bombed out.

It’s on the back burner for now, I’m against anything that weakens governance.

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6 hours ago, Aim Here said:

If his dad's anything to go by, that's the modus operandi. Buy struggling teams on the cheap, do them up and punt them on. However, it looks like it's going to be FoH that gets to hold the bag instead. Presumably after Budge has done what she can to bump up the team's market valuation by, say, keeping them in the top tier and keeping the top tier income stream. I'm sure nobody would want successful businesswoman Ann Budge to take a loss by moving on the club at a low-point in it's financial situation...

Come to think of it, wasn't the handover date this month sometime?

The history of overseas owners with no previous link to Scottish football has not been great, has it? Hope your man is kosher. What he did to HSL doesn't bode well for when times get really tough. I'm happy that AB's motives for hanging on are good and I assume FoH's decision to delay transfer has been documented.

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21 minutes ago, Green Day said:

Go on then, tell us what you think happened, genius 😂

Ended the original arrangement that allowed HSL to buy shares. Surely a dedicated Hibby like yourself  is an HSL contributor and knows that?

btw thanks for calling me genius. I'm nobody's mug, but genius might be stretching it. A bit.

Edited by Pet Jeden
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Whats the script here with Gillett then?
I thought some sugar daddy couldnt come in to buy now that the FoH technically own the club?
I know there was some chat a couple months back about potentially altering the rules on %age ownership or something but thought that got bombed out.


The transfer of ownership hasn’t been completed yet so technically Budge still owns a majority share but FoH have now got enough cash in one place to buy her out.

I’ve not seen the contracts and I dropped out of law school so wouldn’t be qualified to professionally advise on them anyway

But my basic understanding is that as Ann Budge had undertaken the sale to FoH she would have difficulty selling to anyone else without the agreement of FoH.

I don’t doubt her when she’s quoted as saying she’d rather sell to the foundation than anybody else but I think the article may be implying that she has more choice in the matter than she does.

If the foundation were struggling to raise the funds in time then you couldn’t fault her for looking at other buyers

If Hamad Al Maktoum were to announce a wish to have his glorious maroon and white colours conquer new fields beyond horse racing then I reckon the Foundation members might vote to stand aside and let the sale happen.

But I think this is the BBC football department trying to spin a story out of very little in the absence of any actual football



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The transfer of ownership hasn’t been completed yet so technically Budge still owns a majority share but FoH have now got enough cash in one place to buy her out.

I’ve not seen the contracts and I dropped out of law school so wouldn’t be qualified to professionally advise on them anyway

But my basic understanding is that as Ann Budge had undertaken the sale to FoH she would have difficulty selling to anyone else without the agreement of FoH.

I don’t doubt her when she’s quoted as saying she’d rather sell to the foundation than anybody else but I think the article may be implying that she has more choice in the matter than she does.

If the foundation were struggling to raise the funds in time then you couldn’t fault her for looking at other buyers

If Hamad Al Maktoum were to announce a wish to have his glorious maroon and white colours conquer new fields beyond horse racing then I reckon the Foundation members might vote to stand aside and let the sale happen.

But I think this is the BBC football department trying to spin a story out of very little in the absence of any actual football




The last point was what I took. “Hearts reject takeover bid” the report started then stated “no formal bid had been made”...it can’t really be both?
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7 hours ago, Pet Jeden said:

Ended the original arrangement that allowed HSL to buy shares. Surely a dedicated Hibby like yourself  is an HSL contributor and knows that?

btw thanks for calling me genius. I'm nobody's mug, but genius might be stretching it. A bit.

You are right, I am an HSL contributor, so happy to educate you, even if you are nobodys mug.............

Pre Ron Gordon, new shares were created every time HSL bought them from the club which in turn increased the overall number of club shares and diluted everyone elses shareholding (obviously that means in particular Sir Tom Farmers holdings). 

When RG agreed to buy the club he has bought out STF existing shareholding and the remaining newly created shares that would have been earmarked for HSL. The purchase of those newly created shares is how he facilitated the immediate injection of £1.25 m in cash to the club.

HSL money is still collected and will still go to the club, but there will be no further dilution of Ron Gordons shares...............basically he wants to own what he paid for.

As an aside, I happen to think that the FoH work has been fantastic and you should no longer have the kind of lunacy and potential for liquidation that happened under Romanov.

However, your wee dig was about Hibs. You obviously think that a guy who is putting his own money into the club, and who spent his christmas day feeding the homeless at Easter Road is one of these guys that buys clubs with bank debt which is then loaded onto the clubs balance sheet - like Gillett and Hicks did to Liverpool.

To put your mind at rest, that has not happened, he bought STF shareholding with cash, injected cash directly into the club and paid off our bank debt. RG still has the largest holding of shares in Hibs, but not the 75% he would need to do something bonkers like sell the ground to a supermarket or developer - which is why I struggle with your quip that this "doesnt bode well".

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3 minutes ago, NJ2 said:


The last point was what I took. “Hearts reject takeover bid” the report started then stated “no formal bid had been made”...it can’t really be both?

BBC changed it slightly this morning to say that an email was sent last week and Budge just said no as the intention was to transfer shareholding to FoH.

Not sure why this story has even emerged - it was never actually going to fly.

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BBC changed it slightly this morning to say that an email was sent last week and Budge just said no as the intention was to transfer shareholding to FoH.
Not sure why this story has even emerged - it was never actually going to fly.

Slow news day I guess and “man sends email” isn’t much of a headline tbf
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25 minutes ago, Green Day said:

You are right, I am an HSL contributor, so happy to educate you, even if you are nobodys mug.............

Pre Ron Gordon, new shares were created every time HSL bought them from the club which in turn increased the overall number of club shares and diluted everyone elses shareholding (obviously that means in particular Sir Tom Farmers holdings). 

When RG agreed to buy the club he has bought out STF existing shareholding and the remaining newly created shares that would have been earmarked for HSL. The purchase of those newly created shares is how he facilitated the immediate injection of £1.25 m in cash to the club.

HSL money is still collected and will still go to the club, but there will be no further dilution of Ron Gordons shares...............basically he wants to own what he paid for.

As an aside, I happen to think that the FoH work has been fantastic and you should no longer have the kind of lunacy and potential for liquidation that happened under Romanov.

However, your wee dig was about Hibs. You obviously think that a guy who is putting his own money into the club, and who spent his christmas day feeding the homeless at Easter Road is one of these guys that buys clubs with bank debt which is then loaded onto the clubs balance sheet - like Gillett and Hicks did to Liverpool.

To put your mind at rest, that has not happened, he bought STF shareholding with cash, injected cash directly into the club and paid off our bank debt. RG still has the largest holding of shares in Hibs, but not the 75% he would need to do something bonkers like sell the ground to a supermarket or developer - which is why I struggle with your quip that this "doesnt bode well".

Yes, that’s what I said. He’s ended the (Farmer) arrangement that allows HSL contributions to buy shares. I wouldn’t be happy with that if I was a Hibby. On a mission to get to 75% imho.

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1 hour ago, Green Day said:

BBC changed it slightly this morning to say that an email was sent last week and Budge just said no as the intention was to transfer shareholding to FoH.

Not sure why this story has even emerged - it was never actually going to fly.

Guy tries to buy an interest in a football club, and is knocked back - that's a story.

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8 hours ago, topcat(The most tip top) said:

 


The transfer of ownership hasn’t been completed yet so technically Budge still owns a majority share but FoH have now got enough cash in one place to buy her out.

I’ve not seen the contracts and I dropped out of law school so wouldn’t be qualified to professionally advise on them anyway

But my basic understanding is that as Ann Budge had undertaken the sale to FoH she would have difficulty selling to anyone else without the agreement of FoH.

I don’t doubt her when she’s quoted as saying she’d rather sell to the foundation than anybody else but I think the article may be implying that she has more choice in the matter than she does.

If the foundation were struggling to raise the funds in time then you couldn’t fault her for looking at other buyers

If Hamad Al Maktoum were to announce a wish to have his glorious maroon and white colours conquer new fields beyond horse racing then I reckon the Foundation members might vote to stand aside and let the sale happen.

But I think this is the BBC football department trying to spin a story out of very little in the absence of any actual football


 

 

I could live with the white star on Sheik Maktoum's maroon colours. It could maybe represent our one expulsion from the Premier League? But his colours also have white sleeves and I couldn't bear listening to Hibbies, from now until the end of time, about how they were "first to wear the white sleeves".

Edited by Pet Jeden
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I could live with the white star on Sheik Maktoum's maroon colours. It could maybe represent our one expulsion from the Premier League? But his colours also have white sleeves and I couldn't bear listening to Hibbies, from now until the end of time, about how they were "first to wear the white sleeves".


They presumably would switch to red sleeves after his rival the Aga Khan bought them and the Champions League trophy would then shuttle back and forth along the tram tracks for years to come.
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