http://www.bbc.co.uk/sport/0/football/20241385 Hearts appeal to fans as club fears for future after tax bill The Edinburgh club, owned by Lithuanian-based banker Vladimir Romanov, are appealing for fans to invest in a recent share offer and to turn out in numbers for the next three home games. So the only validate debate is how much supporters have to dig into their pockets for to try and save their club that has been ruined by a foreign businessman (if he can be called that)? So it's fair to ask supporters, many of whom are probably short on cash, especially at this time of the year, to stump up money they can't afford or simply haven't got to save their club that this idiot has ruined...? I'm no fan of Hearts but it's sad to see them in this state. In saying that, the large majority of them couldn't get enough of Romanov when he first arrived. Sometimes you reap what you sow...
What's the point of offering shares only in the UK and Ireland? Lots of people around the world, like yours truly, would unbelt a little for the auld club. OK, barring actually saving the club, what are the repercussions of liquidation? Rangers still exist, even if it isn't the same organization legally. If we go bust, that would at least rid us of Vlad the Inhaler; assuming someone else steps up to restart the club. Not sure if it's worth going that far if it can be prevented -- Romanov intends (at least publicly) to sell the club. Supposedly, the shares offered are 10% of Romanov's stake.
Well not all clubs can be small, community, fan-run clubs without some foreign businessman coming in and buying a majority of shares and pumping money into the club...oh wait.
I am. He can pay the ****ing tax bill, he's rich. They have a video of a little kid coming in and emptying his piggy bank to save his team. It's despicable. This is like a microcosm of the bank failures around the world. The wealthy morons messed up so they come to the masses to restore their broken toys. I've saved up my spare change since grad school and put a little money into a sort of "dream account" to buy shares in a soccer team one day. I have $3K and would have gladly purchase Hearts shares. I'm kind of offended that in the brochure reads
You and me both, buddy. To be fair to Romanov, he is actually selling a percentage of his shares. He's not asking for a direct handout. Therefore, the more you want him out, the more shares you should buy. lol
It's funny to see all the posters on Kickback who rejoiced at Rangers' problems and insisted it was a different club now claiming that if Hearts do go 'bust' and are formed under a 'newco' that it will still be the same club.
My friend bought some shares and said that you could only pay in cash at the Tynecastle office. Obviously HMRC aren't taking any chances.
I emailed the team about the "American clause" and have not yet received a response. If one doesn't come soon, I think I may find another team to support.
I would guess that the reason the shares are not available in the US (or likely Canada...although I have not checked) is simply a matter of cost. I would imagine you could not do that without issuing a prospectus and meeting with securities regulators.....that process alone would be a 7 figure cost....since they are "only" trying to raise about $2 million through this share issue, it would be kind of pointless to incurr the costs of a (North) American securities prospectus in that exercise. The truly good news (IMO) for Hearts supporters is that this share issue alone cuts Romanov's price to get out of Edinburgh in half. Last year he said he would only sell the club for 35 pounds.....this share issue for 10% of the club would indicate a value of under 18 million pounds for the club.......if you are part of the "Romanov Must Go" club...you're half way there!
That part I understand. But it also reads "or to any US persons" meaning if I lived in Edinburgh I still couldn't buy shares.
The **** has finally hit the fan - Hearts: administrators begin cuts at Tynecastle I do hope they make it through this and hopefully the club can move forward as one that lives within its means. I would say this has been coming for years now.
So what's the current status on this? I know they are still in administration and there had been mention of a couple different groups taking over. One being a supporters trust type group. And is it true that the club and the stadium would be separate purchases?
UBIG have only recently entered into liquidation proceedings due to constant court delays in Lithuania. Next step, I assume, is to get the creditors to accept a CVA and then the supporters group (Foundation of Hearts) can take over the running of the club and will be paying £2.5mill to the creditors. I haven't heard anything about whether they are only purchasing the club and not the stadium. I would assume both but again, not entirely sure.
Maybe I got that wrong. But I recall that the parent co was the primarily creditor on the stadium. So maybe part of the reason for the delay for buying out is if they go into liquidation then that's one less creditor you have to deal with. As a club I think they have a lot of upside in growth. But need a much better financial plan. I liked some of their recent marketing methods to grow their long term fan base. I know a couple of years ago they had a kid's birthday offer for all kids in a certain area. When they turned X age, they received a game ticket and part of a small reception before the game with a number of other birthday kids. It was funded by one of the sponsors and they had to escorted by a adult with a paid ticket. I liked the idea and more something you would see here in the US.
I wasn't aware of the above but I'm glad to see Scottish clubs looking at alternative ways to bring supporters back to the clubs and involve local communities at the same time. There is, and has been for some time, a general overall staleness to the game in Scotland. That has encompassed not just the product on the pitch but also everything from advertising to supporter involvement. Edinburgh can easily sustain two top level SPL clubs. I hope, for the overall benefit of Scottish football, that Hearts can turn the corner and get back on their feet.
While it is sad to think of a great club like Hearts getting relegated....if there ever was a year to get relegated from the Scottish Premiership (from a financial perspective) this is probably the year to do it. Not only does it get you games against Rangers I think the new playoff strucutre means that even finishing 2nd in the Championship to Rangers gives you a fighting chance to come back up right away. It was always going to be a tough fight for the Jambos this year......starting with a 15 point deficit and a transfer embargo that essentially made them a under 21 squad was tough.
That's a good point with Rangers I never thought of that. How interesting it would be to battle for a promotion spot with them! Maybe it'll be ok.
Well, I am sure if Hearts could pick, they would pick to be in the Premiership....it is just a slightly better time than usual to be relegated if there is no other choice. If (as is likely) Hearts do get relegated, next year will be the most interesting year in the 2nd tier of Scottish football that I can remember.
Since we last discussed this.....Dundee has been promoted and it looks like Dunfermline has a chance of staying down a division......but we can add in the very real possibility that crosstown Hibs could be relegated along with Hearts! Imagine that Hibs Hearts and Rangers in the 2nd tier of Scottish football at the same time!
And suddenly I really want to follow an entire season of 2nd tier Scottish Fitba. How does one do that in the US?