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Hearts post record turnover... and debt



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Published Date: 28 March 2008
By BARRY ANDERSON
HEARTS have announced financial results showing record turnover of £10.32 million for the year ended July 31, 2007. However, the club's debt has also reached new heights of £36.25m.
Financial figures posted on the official Hearts website failed to mention the debt, which is being underwritten by Vladimir Romanov's Ukio Bankas Investment Group (UBIG).

The Evening News has learned details of the record deficit which is expected to reduce by next year, as is Hearts' £12.49m wage bill with the club working towards a more manageable salary-to-turnover ratio.

The figures released include the £1.1m transfer of midfielder Paul Hartley to Celtic last January but Craig Gordon's record £9m move to Sunderland will not make the club accounts until next year as it did not go through until last August.

Similarly, the exorbitant salary expenditure will be reduced come the next set of figures given the departure of some of Hearts' biggest earners over the last 18 months, notably Gordon, Hartley, Steven Pressley, Edgaras Jankauskas and Takis Fyssas.

The website statement also revealed that UBIG have "provided Hearts with additional funding by way of short-term debt facilities with the plan to convert it to shares at a later stage". That would increase UBIG's shareholding in the club beyond its current 80.1 per cent.

The full article contains 226 words and appears in Edinburgh Evening News newspaper.
Page 1 of 1

  • Last Updated: 28 March 2008 4:36 PM
  • Source: Edinburgh Evening News
  • Location: Edinburgh
  • Related Topics: Heart of Midlothian FC
 
1

,

28/03/2008 16:40:47
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2

Prof,

28/03/2008 16:44:13
No problem we can always take the Hobo approach and flog off all the players.
3

Vlad Magic,

28/03/2008 16:45:53
Hardly the bombshell some were expecting. Things will be very different come the next set of figures.
4

,

28/03/2008 16:48:23
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5

Lenny,

28/03/2008 16:49:10
Prof,

You may well have to eventually. You can mock but Hibs selling our players has enabled us to wipe our debt and pay for our own training ground. And we are still good enough to challenge for Europe.
6

DublinHibernian,

28/03/2008 16:53:10
3

your right no bombshell more like a bombscare

prof

What a foolish little man "No problem we can always take the Hobo approach and flog off all the players"

What players have you got to wipe out £36m worth of debt? is the whole team worth £7m??? how many of them belong to hearts??

Well for all the junior economists and accountants that is some of the figures confirmed FACTS £36m in debt with the same annual turnover as hibs....

NOW CHAPS FIGURES DON'T LIE AND LIERS DON'T FIGURE so think before posting accounts chat or i will be forced to get my calculator out!!!
7

Sardonic Jambo,

28/03/2008 16:53:40
That doesn't sound like investment. That sounds like downsizing.

so you're telling me it would be a great idea for a club in hearts' financial position to go and spend further millions on exorbitant salaries etc? berate us for over-spending in the name of, admittedly, excessive ambitions, then jeer us for trying to curb a ridiculous spending to turnover ratio? get bent ya poorly disguised hibee adolescent.

anyway, aside from replying to innane comments: it's encouraging that we've posted record turnovers for 2 successive seasons, and also that we're trying to put a stop to the spiralling debt by introducing some sort of wage cap but what i don't like the sound of is UBIG's plan to turn some of the debt we owe them into shares...anyone with financial knowhow (i admit mine is sparse) fill me in on details of whether this is as ominous as it sounds??
8

DublinHibernian,

28/03/2008 16:53:53
my post was to all jnr accountants and econiomists both hearts and hibs fans
9

huggs,

28/03/2008 16:55:54
#4 Of course we are downsizing we have the biggest staff in Scotland, far too many players picking up wages who will never play
Too many Liths in the squad who earn money for nothing
About time we reduced the squad to a managable level and cleared the Sh1te
10

Sardonic Jambo,

28/03/2008 16:58:26
9 well in son
11

JC_No7,

28/03/2008 17:00:07
Presuming i am reading the accounts correctly and correct me if i am wrong but these accounts say that Hearts turnover was £10.3m and after doing an internet search Hibs turnover over the same period was £9.8m, just £500k different. Not much...
12

Edinburghs Finest,

28/03/2008 17:10:25
Not taken Vlad long to admit his initial business model was completely unmanagable and total pie in teh sky.... guess the world cup stars awont be coming now. ho hum
13

what a chancer,

abdn 28/03/2008 17:13:19
who would want to leave at that salary,nowonder nobody complained getting dropped,or sitting on the casualty suite,oh slight twinge sorry cant play yet.
14

Sardonic Jambo,

28/03/2008 17:16:35
11 hate to sound like a snidey comment but hibs' turnover was at least 50% transfer sales whereas hearts' only significant transfer was hartley for £1m. i reckon next years' turnover for hearts could set another new hearts record. not that we'll be out of debt by then, far from it!!

might have my figures wrong, feel free to correct me but the figures look deceiving when put together like that i think
15

Edinburghs Finest,

28/03/2008 17:19:15
#14 But surely the debt will have raised by another £51m for your new super duper stand? Still you could always sell Clum Elliot! ;-)
16

Phil o Brian,

28/03/2008 17:23:26
7 Sardonic. Actually, it might be a positive. He already controls the club with 80% of the shares so issuing him more should not be a problem (unless he is using it to force the other shareholders to sell, which you can do when you reach a certain %). Turning debt into shares will reduce the interest charge. If you were looking for signs that he was committing long term, then you could read this as one of them. It would show that they recognised that the debt was too high and further equity investment (ie shares) was needed.
Does look like wages are still far to high and if they wish to get back to c50% of turnover, they have to cut wages by £5-£6m, which is a hell of a lot. Who is getting all the money.
PS to be entirely open, I am a hibby!!
17

,

28/03/2008 17:29:51
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18

,

28/03/2008 17:32:54
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19

GrahamL,

28/03/2008 17:36:59
The "additional funding" from UBIG is a little disconcerting. Does that mean we went over the £40m at some point? And they've let us get into more debt, but through some weird shareholding thing?
That I don't understand, at all. And I thought I vaguely knew about these things, have we increased the share capital and given it to UBIG? So further diluting what little non-Vlad holdings there were?
And if so, what does that mean? Can he dilute it them so far that he can automatically buy them, giving him 100% ownership, no accountability?

And the £12m staff costs - that can't be all wages can it? That's up about 25% from the year before! And we dumped some well paid players in that period, what are the remaining players earning? Or was a lot of it compensation for Vlads hire 'em/fire 'em philosophy?

So many questions, but I suspect we'll never get answers. Besides, it's after 5 on a Friday, so it's officially the weekend. And there's a pint or two with my name on it...
20

what a chancer,

abdn 28/03/2008 17:38:02
not concerned about the investment,not happened yet.
21

,

28/03/2008 17:42:30
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22

,

28/03/2008 17:51:46
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23

Phil o Brian,

28/03/2008 17:53:57
18 Jambo. The way it reads in the article, it would be NEW shares that were issued, not Vlads own shares sold by him ie, it increases the equity in the company (normally a good thing).
19. I am pretty sure that he would ahve to have told the other shareholders if HoM had gone over the £40m as that was the authorised level. There is a difference between authorised and actual. The comment by jambo at 21 looks right ie the additional funds were provided to pay the wage bill etc and resulted in the debt increase. The comment that the debt was short term is not very helpful. Short term means it has to be repaid soon (out of proceeds of Gordon sale?). If it was only to cover until that money came in, then not a real problem. More like a overdraft.
24

,

28/03/2008 17:54:11
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25

Sir Brian Hine QC,

Henley-on-Thames 28/03/2008 17:56:30
I promised myself I wouldn’t enter this debate ever again!! – Sardonic, you really are a numpty, in the nicest possible sense. TWO seasons in a row you’ve had positive Turn over!!! The reason the turnover is in the black at all is the debt has been siphoned off into UBIG...for now!! – Anyone would show a positive T.O. if NONE of the debt is taken into account – surely you can understand that, in other words it’s a totally false picture for HoMFC – You then speak of not wanting to take on even more debt, eh, like another £30m or so on a hotel complex!! The worrying thing is this comment “UBIG have provided Hearts with additional funding by way of short-term debt facilities with the plan to convert it to shares at a later stage. That would increase UBIG's shareholding in the club beyond its current 80.1 per cent.... And that means he’s starting to erode the 19.9% he would have to pay out to other shareholders when he cashes in....I think someone needs to call the monopolies commission. Deary me.
26

The Gorgie Boys Are In Town,

28/03/2008 17:56:33
We are supposed to be going for shirt sponshorship with an outside company that will make a few bob when it happens aswell. Couldn't really see the point in Ukio Bankas sponsorship as it's in house and pointless as not trading in this country yet.
Suppose the name is well known now right enough emblazoned on the famous maroon
27

,

28/03/2008 17:59:05
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28

BEMUSED EXILE,

28/03/2008 18:10:18
Hi guys.

I neither like nor dislike Hearts, so I have no agenda in writing this, but debts of around £35 million on an annual turnover of around £10 million, with a new stand still to be constructed and paid for, is scary stuff.

How you eat into that kind of debt when you have no mega-valuable players left to sell, and no prospect of receiving any eggs from the Champions League golden goose in the foreseeable future is a question that I simply can't answer, but one thing is for sure, it will have to be a gradual and painful process.

Rangers are criticised for their debt, but the RFC figure is currently around £25 million, against an annual turnover of over £60 million (£80 million if the retail side of the club was taken into account), so that seems like a relatively glowing situation when viewed against HoM, particularly with the Hutton money not showing up yet.

Anyway, good luck. You're still potentially the biggest club in Scotland outwith the OF, and the SPL could certainly use a strong Hearts. I'd recommend that you start by bringing in a good British coach, a few good British players, and offload at least a dozen Lithuanians!
29

hibeeboy,

28/03/2008 18:22:29
no2,,,it was £36m not £3.6m ya slaver
30

Choose a nameDr_Joseph_Phd,

Tynescos 28/03/2008 18:31:37
This report covers year ended 13st July 2007.

The good news: HMFC no longer pay huge salaries to the likes of Jankauskas, Gordon, Hartley & Pressley, so they have saved around £3M in that respect.

The bad news: The wage bill for 2007 was £12.5M and Debt rose by £8.25M. Reduce this by the £3M saved on wages and HMFC still run at a £5.25M loss.
31

kiwidoug,

22 In A Row 28/03/2008 18:54:31
The BBC Sport website reports a spokesman stating that the departure of high earning players, Hartley etc, will have a positive effect on total wage costs. He couldn't be more wrong.

When you sell your best players you are giving a cast-iron guarantee that you will not be challenging for honours. That is a path to mediocrity and has no positive effect whatsoever. I appreciate that you can't afford to follow the Leeds Utd model however Hearts should be honest and state that the good times have gone for the forseeable future and that we are now on roughly the same level as Hibs in terms of realistic ambition.
32

,

28/03/2008 19:01:25
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33

,

28/03/2008 19:03:38
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34

Laughing at The Jambos,

28/03/2008 19:05:33
#28 BEMUSED EXILE
Are you sure that you're NOT LATJ??
Oh, No...sorry..that's me intit.
Nice tae see another convert though !!
35

,

28/03/2008 19:08:09
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36

Hibees forever,

Portobello 28/03/2008 19:09:37
If, and I quote:

"expenditure on the playing squad is not going to rise any further"

What does that say about how much money Romanov is planning on spending in the summer? To me the same as in january, nothing.

No mickey taking meant, but this then leave Hearts with a playing sqaud not capable of being in the top 6.

Hearts fans happy with this??
37

,

28/03/2008 19:20:34
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38

GeorgeCowieOrWalterKidd?,

28/03/2008 19:23:32
#1, 4, 6, 5, 12, 31 (not fooling anyone by the way), 36 - gave up counting after that - why don't you all just buy Hearts season tickets and be done with it. You obviously find our club fascinating so why not get the full picture by actually watching the team?

On the back of resiging Johsson and losing some of the less than effective loans from Kaunas, this is positive - especially considering next years accounts will be VERY different. And yet the Hibeeconomists who mock our financial situation would want us to spend more! Fantastic stuff.
39

Hibees forever,

Portobello 28/03/2008 19:23:34
#39,

So how are Hearts going to perform if they reduce expenditure in their playing squad? When at the moment they cant get into the top 6 with what they are spending currently. Again no dig meant, but a serious point.

I understand your point about a manager but I cant see that making a huge difference if reducing the ability of the playing squad.

As per the relevance of your last paragraph I have no idea.
40

GeorgeCowieOrWalterKidd?,

28/03/2008 19:26:38
#36 Considering Rangers once paid that amount for one player - transfer fee only - who scored very few goals, I think you're showing your compete lack of perspective on everything to do with Hearts, life and indeed everything.
41

Vlad Magic,

28/03/2008 19:28:49
#42 To put it simply. Quality and not quantity.
42

,

28/03/2008 19:28:56
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43

Hibees forever,

Portobello 28/03/2008 19:30:56
#42

Time will tell on that one i suppose.
44

GeorgeCowieOrWalterKidd?,

28/03/2008 19:31:00
#42 "I understand your point about a manager but I cant see that making a huge difference if reducing the ability of the playing squad."

Hearts have not had a set management and coaching structure for 2 and a half seasons. Of course that has affected results on the pitch. Even just having a very inexperienced interim coach has produced better results, so a manager will have a huge affect. As for reducing the ability of the squad. I'd say the overall squad ability has risen since the start of the season, given who has been released and who has resigned.
45

Hibees forever,

Portobello 28/03/2008 19:31:36
I just responded to my own comment.......was meant to read #44
46

GeorgeCowieOrWalterKidd?,

28/03/2008 19:32:48
#45 My point? Yes of course I was expecting Hibs fans to buy Hearts STs. That's exactly what my point was. Every heard of the word "facetious"?
47

Hibees forever,

Portobello 28/03/2008 19:34:02
#47

The overall squad ability may have, I wouldnt know, but i would certainly question if you think the ability of the starting 11 has improved since the start of the season?

48

GeorgeCowieOrWalterKidd?,

28/03/2008 19:39:28
#50 We were talking squad. The team has obviously gone down hill and we shouldn't be anywhere near a top 6 place.

If a club playing much of the season with no playing system or effective coaching set-up and a team selected by fax by the owner (so you tell us) can still be in with a shout of the top 6 near the split, what does that say about football in this country?
49

GeorgeCowieOrWalterKidd?,

28/03/2008 19:52:17
So if the Gordon transfer had gone through a couple of weeks earlier, the debt would be around 27m, just 5m or so more than when Robinson left.

So, 5m for the Cup and an amazing league run. Given that 5m doesn't buy much in the transfer market these days, and that he current wage bill is probably around half what it was that season, I can live with these figures.

Keep up the cost-cutting (apart from recruiting a manager and striker)!
50

Hibees forever,

Portobello 28/03/2008 19:54:11
#52

In one instance it says very little about the quality of the SPL, but when you consider not many teams taking points off the Old firm and the close nature of the other teams, Hibs, Motherwell, Dundee United, Aberdeen, Hearts.......Falkirk and Inverness on their day, then teams are taking points off each other.

#51

I would agree Hibs havnt as strong a squad now as they have had, but that I would say is down to the fool that was John Collins bringing in deadwood. Laugh at this you may but makalambay has actually looked a very good keeper of late, Hogg is playing v. well at centre half, zemmama, murray, rankin, nish (proven goal scorer), fletcher, deano, benji.......in youngsters in grof, mccormack, ayre, gray, i would disagree (but then I would)

I dont actually think losing Jones and Boozy would be that big a loss at all actually, Fletcher on the other hand would be. Anyway we are off topic now.
51

Xacobeo Hearts,

Galicia, ...a Friday far, far away 28/03/2008 19:58:45
I read this report and I was very worried.

...then I read all the comments from my fellow Jambos and I am even more worried.

Oh lordy time to get out of here and go and get a very strong drink!!!!

Maybe I too will then see everything looking slightly more rosy after half a bottle of aguardiente.

Christ on a bike!!!
52

GeorgeCowieOrWalterKidd?,

28/03/2008 19:59:40
#55 I think Hearts squad is stronger in depth but most Hearts fans would give up more than a few of our players to get the stability and team togetherness you have at Hibs, which is worth a good few points and makes the whole experience of watching the games more enjoyable. The current Hibs team reminds of Hearts under Levein and Jeffries - more about the sum of its parts than individual players. Hearts are just a bunch of individuals cobbled together just now - something a manager would be able to sort out.
53

GeorgeCowieOrWalterKidd?,

28/03/2008 20:07:32
#56 It's movement in the right direction - ie turnover rising, costs reducing - especially when we have a possible 12m in transfer fees not included in these figures (Gordon, Bednar, Velicka), although next year's won't have Euro TV money. Wonder if these figures include the 1m from the Barcelona game right at the end of July. Possibly not.
54

Hibees forever,

Portobello 28/03/2008 20:15:55
You may be right, but how much of this £2m you refer to do you honestly think will go to that?

More likely to go to reducing debt, and the interest payments that come with it, and on this £50 million new stand.
55

,

28/03/2008 20:21:33
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56

Highland Hibby,

Inverness 28/03/2008 20:22:08
#59 As the accounts are for the year ended 31 July the Barca money should be in as the game was played in July.
57

bring them on,

28/03/2008 20:22:10
www.fansheartsare greeting intheir cornfalkes. com
58

bring them on,

28/03/2008 20:31:22
Come on lads,

Hearts in Europe next year?

A wee discussion?
59

Highland Hibby,

Inverness 28/03/2008 20:36:29
#65 Okay, let's start the bunfight. The Hearts players will only be in Europe when they go back to Kaunas.

Yeah, I know it's immature and petty, but I just want to fit in.
60

Kingston Dan,

28/03/2008 20:36:42
58 et al

Where does this Hearts have a budget £2 million higher than Hibs come from.

For the period 2006/7 Hibs turnover was £9.85 million (compared with Hearts £10.32m) - just £470,000 less.

Given Hearts interest payments are likely to be in the region of £2m and Hibs are less than £500k - I'd say on a sustainable level Hibs can afford a playing budget of at least a million more than Hearts.
61

Vlad Magic,

28/03/2008 20:36:49
#65. We are not. Correct. Very wee discussion.
62

GeorgeCowieOrWalterKidd?,

28/03/2008 20:44:05
#59 It was 28th July - a Saturday - so I've no idea if all the gate money would be in by the 31st or not. Just wondering.

#68 It should be noted that Hibs turnover for that period included about 10m in transfers, while Hearts included about 1.1m
63

Jingling Geordie,

Sunshine on Leith 28/03/2008 20:44:24
Add the cost of the "pie in the sky" stand and the total debt will be just short of £90 million.
Doubtless Craig "high baw intae the box" Levein will return, Hearts are about his true level having been dispatched back from Leicester with initials after his name, Craig "P45" Levein, couldn't hack with the big boys, total failure.
Ridiculed Tony Mobray before heading south but big Tonys showing him how it's done.
His big mouth almost certainly cost him the Scotland job then he took the hump at Gordon Smith for the same reason.
64

DublinHibernian,

28/03/2008 20:46:31
I cannot believe how moralistic deluded and crazy you all are, vlad dangles a little carrot of a supposed manager and hey ho all is well again in the crazy mixed up world of hearts

where do you get the we are a big team attitude, you have the worst financial footing in the league, excluding Gretna of course and the majority of morons on here believe this to be ok!!!!

I for one am sick asking you to waken up, so i will also be over the moon when this unsustainable "business" goes pop.

Only a few months ago all you dellusional idiots were carping on about how hibs were tight on wages and how you were such a"BIG" team paying mediocre players big money, now the wage bill is slashed players effectively laid off, and all of a sudden this is acceptable.....

Hibs are on an excellent financial footing, very little debt, training centre paid for and funding in place to comlete the stadium.....yes we sold players, but so have hearts....... I can't decide whether you lot are thick or just ignorant.....

BYE BYE JAM TARTS
65

DublinHibernian,

28/03/2008 20:50:11
71

are you an accountant????

thought not....too much time on football forums listening to the other morons.......

You have no team
no stadium
no assets
no means of paying the increasing debt
what looks like drastically reduced season ticket sales
no manager

what do you have to be rattling on about on here, you should be ashamed of your team the board but most of all yourself for allowing it to happen
66

Highland Hibby,

Inverness 28/03/2008 20:54:59
#71 Doesn't matter if the cash is in or not, it's still part of that year's turnover. The accounting rules insist that the gate money counts against the year even if some of the cash doesn't arrive until later (in this case, after 31 July).

I hope that makes sense (unlike a lot of the posts here!)
67

GeorgeCowieOrWalterKidd?,

28/03/2008 21:00:19
#72 - 74 Wow - someone's worried. Thanks for your concern but last I looked we:

Am I an accountant? No. Are you a fortune teller?

have a team, although not a good one at present
have a stadium
have assets - Kingston, Driver, Berra, Jonsson, Bednar, Tall to name six
have a plan to pay off the debt through continuing to increase turnover and increase the stand capacity
have no figures for season ticket sales so no evidence they are drastically reduced
have announced we will get a manager

Yes, we might not get a manager or a new stand, but we might. TF might not sell to someone less financially conservative as him, but he might.

If you really think that just because we had a bad season this year means we'll have a worse one next year, you might recall that Hearts nearly won the league in '86, the season after finishing second.
68

GeorgeCowieOrWalterKidd?,

28/03/2008 21:01:41
#78 Sorry the year after finishing seventh
69

wee 162,

Sunny Leith 28/03/2008 21:02:27
#70
The Hibs turnover is before transfer fees.
70

Happyhibee1956,

28/03/2008 21:06:01
#2

Aye, You could flog off all the players like the 'wee' team.

I think you might get a couple of million for them in a job lot on ebay, but I would'nt bet on it.

Nb. That would be a couple of million rouble's that is.
71

DublinHibernian,

28/03/2008 21:06:02
76

That is the ostrich syndrome you lot suffer from also now on display, all we need now to comlete the typical jambo traits is perhaps a reference to empty seats

i will reiterate for you:

no money
no fixed assests
very few players worth selling (Kingston & Berra and kingston may or may not belong to hearts)
no manager
season ticket sales decreasing (adding to rising debt)

dreams

a £51m stand
A decent manager who will stand up to Vlads meddling
A decent team on the pitch paid sensibly
Debt managed (you may have to call Carol Vorderman to roll them all into one manageable amount)
No mickey mouse contracts
An on the level board

If you could choose one of the above what would it be?
72

DublinHibernian,

28/03/2008 21:12:52
78

Not sure bednar belongs to hearts
not sure kingston belongs to hearts
driver berra johnson and tall????? well you have the guts of tennents 6's team then, and berra is the only decent one there.


"have a plan to pay off the debt through continuing to increase turnover and increase the stand capacity"

Get a grip, read that again........................now again....................think about it.........

if you need to phone a friend before you reply.......


do you mean you stand???? that will increse capacity by 3000.............how much are you charging for these extra seats £100,000 per seat per game? even at that it might cover the interest on the debt you will accrue

do yourself a favour, quit while your ahead
73

Sir Albertt x2,

28/03/2008 21:19:50
Big teams get into europe every season. Big teams win a trophy every 2 or 3 seasons. Big teams don't have a stadium that looks like something out of Balamory! The reasons you Scumbo's give don't make you a BIG team! Live with it.
74

what a chancer,

abdn 28/03/2008 21:23:03
the best turnover is when we beat the hibs at easter road,glory glory.
75

GeorgeCowieOrWalterKidd?,

28/03/2008 21:26:45
#82, 84 Seriously - you sound extremely worried Hearts might get it together. Worried because the figures of 40m were the pie in the sky we all knew it was?

If you know who Bednar belongs to, do share. Hearts accounts state firmly that the Gordon money will show up in next year's figures. no reason others won't as well.

Seriously can you not just accept that Romanov tried to aggressively challenge the OF and failed, and that's what put us in this spot? Now that strategy has failed - although showed promise - the club is trying to get back on a better footing. Can you not accept that? Seriously are you so blind that you really think in such black and white terms - that everything stays the same, forever??

The facts are that if CG's transfer had gone through a little earlier we'd be looking at around 27m debt - far from the predictions of people like you.

As for your comments on the stand. It increases the capacity by 5,000. We can get full houses for Hibs and the OF - let's be optimistic and say six full houses, although we could get more for cup ties.

5,000 x 6 = 30,000.
30,000 x 20 quid = 600,000 a year not including programme and refreshment sales AND increased corporate facilities.

BUT, the stand also has built in alternative revenue streams.

AND a better ground means more chance of higher-profile friendlies and Scotland games.

Of course the stand may not get built, but it might. And it needs the team to at least get back to a regular 3rd place finish, which might not happen, or it might. But how you can question the basic business plan is beyond me.
76

It's only a game,

Musselburgh 28/03/2008 21:31:46
Charlie Mann on talk 107 tonight.

Last question Charlie, If you were a Hearts supporter having watched this season, would you renew your season ticket.

Eh no.
77

GeorgeCowieOrWalterKidd?,

28/03/2008 21:37:48
#89 So did you abandon Hibs when they got relegated in '98 or the other times around then when you finished in the relegation spots before being bailed out by rule changes, or the many other times you finished outside the top 6?
78

It's only a game,

Musselburgh 28/03/2008 21:41:51
#90

Pass the port son you've had enough.

WTF are you on about?????????????
79

what a chancer,

abdn 28/03/2008 21:43:53
do hearts have a chance tomorrow,cant beat the reserves,and that usually means all the squad that sits on the bench all year and a couple of football dodgers here for the dough,and they may get a game said our coach,i hope they all have asquib up their backside to get this lazy bunch moving over the two halfs,we do seem to tire easy.
80

It's only a game,

Musselburgh 28/03/2008 21:44:22
The 85/86 team are on the BBC next Friday at 7.30 for all who want to split their sides.
81

The Gorgie Boys Are In Town,

28/03/2008 21:44:49
*89* he's probably given up on them as soon as the going got tough many seasons ago.
Has to be the reason he is exceptionaly bitter and with a huge chip on his shoulder. Still sore from the many defeats handed out and our success on two occassions in the Scottish Cup.

Can only dream of lifting the Scottish Cup not going to happen before the dinasaurs rome the earth again.

How many years has it been now IOAG?
82

what a chancer,

abdn 28/03/2008 21:50:08
rom mans got all my dough,sitting here on a sunny afternoon,save me.save me.from this squeeze,help me,help me please ive got a splinter from this bench.
83

,

28/03/2008 21:50:17
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84

what a chancer,

abdn 28/03/2008 21:52:40
what year did the hibees come second in the league or even first,was i born then ,were the kinks born then.
85

GeorgeCowieOrWalterKidd?,

28/03/2008 21:54:17
#93 Says it all. Remind us again of the last time you got anywhere near the top league title. My goodness, we all saw how excited you lot got when you topped the league for a couple of days this season. Image 10 games (for info - it's great) or 20-odd games (for info - even better)...
86

That's Mr Romanov to you!,

Scotland 28/03/2008 21:55:19
The business plan is sound. Mr Romanov is here for the long haul. Too late to go over the facts about the debt being irrelevant when you are a wholly owned part of a multi national (highly successful) group etc, etc. Have patience, endure and persevere. We will get there. Believe.
87

It's only a game,

Musselburgh 28/03/2008 21:57:14
Oh I see the Jumbo trough and trough has had his tea with mummy and daddy after showing his the posts he received earlier in the day.

What joy in the piggery when mummy pig and daddy pig put their little piggy to bed.

Night Night little trough
88

what a chancer,

abdn 28/03/2008 21:58:25
the fifties were great for hibs,but no electicity was used only tapped from the tram station so no cameras.
89

what a chancer,

abdn 28/03/2008 22:01:43
hibs have had thier day just like the rest,its been ages since anybody stood up against the oldfirm and it will be along time yet to see them split aside.
90

It's only a game,

Musselburgh 28/03/2008 22:02:39
Top 6 for the top teams in the league

Bottom 6 for the also rans = Hawrts
91

,

28/03/2008 22:02:54
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92

It's only a game,

Musselburgh 28/03/2008 22:06:12
#104

Just trying to lift the spirits in the Hawrts camp at the moment and maybe after seeing their team when it was actually a team your spirits might just be lifted.

After all watching Robbo et al versus Miko et al

No contest.
93

Darren :-),

Edin city but on ma way to ibrox 28/03/2008 22:08:21
Craig gordon sold for £9m..... is that included in the £10m profits? if it is then £1m is BS and if its not, where did the £9m go?
94

what a chancer,

abdn 28/03/2008 22:10:09
I would put john collins in my midfield tomorrow,least he knows what to do with a ball.
95

It's only a game,

Musselburgh 28/03/2008 22:11:01
bird flu expected to hit gorgie area on saturday.
16,000 will be sick as parrots
96

,

28/03/2008 22:12:27
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97

,

28/03/2008 22:17:18
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98

It's only a game,

Musselburgh 28/03/2008 22:21:58
109

Their you go again with that superiority complex.

Robbo good Hibby family. Brother George good hibby.

Miko is a diver and always will be.

#110

Never said we would make Europe but it would be nice if we did and your lot were 8th or 9th

Two jambos want to go bunji jumping. They walk to the office and ask how much it costs, the man replies £20 for adults, £10 for kids and jambos go free no strings attached.

99

It's only a game,

Musselburgh 28/03/2008 22:24:06
#109

When you were on your way back from Dens we were having a party in the Hibs club. Great night had by all.
100

Sir Brian Hine QC,

Henley-on-Thames 28/03/2008 22:38:00
Victoria 27....only you would find a child like explanation confusing, let me simplify it for you....your team’s stuffed. The sub mariner/dancing queen is putting the final touches of a beautiful plan together.
I will no longer respond to this thread so fill your wellies in your childish like way.
101

ty175,

28/03/2008 22:42:59
UBIG have "provided Hearts with additional funding by way of short-term debt facilities"

LOL

Tick Tock
102

The Gorgie Boys Are In Town,

28/03/2008 22:44:39
*112*

Where were you on May 16th 1998 when Hearts and Edinburgh were rocking to a right old party along with the Scottish Cup!

Seem to remember the Hobos having to dig out the map trying to find Stranrear and Alloa. Not many mind you mainly empty seats until started to find their true level. Probably where you belong the 1st division and once Mixus honeymoon period pops with the usual Hobbo bottle this season.
Next season the Hobs will be playing to stay in the division. No Europe for 5th place finish this season but feel free to gloat because Hearts have been rank due to mismanagement this year and could still mathamaticaly catch you.
103

Fit o' the walk Jambo,

28/03/2008 22:45:51
112# It was with extreme pleasure watching you muppets being interviewed in the Hibs Club in 1998 when Hearts won the Scottish Cup and the weeteam got relegated!! I hope you were one of them?! What was it like in their after your hampden 4-0 humiliation?? Must be some place having only Hearts' failures to party about?? MUPPETS!!
104

ty175,

28/03/2008 22:47:02
'Hearts have been rank due to mismanagement this year and could still mathamaticaly catch you'


Classic
105

Fit o' the walk Jambo,

28/03/2008 22:47:45
114# Surely the batteries have ran out on your hibs.net clocks by now?? It's been a few years now??
106

Fit o' the walk Jambo,

28/03/2008 22:49:34
117# Finishing only three times above Hearts in 20 years sums up Hibs being the weeteam in Edinburgh. Enjoy your once in a blue moon season being in the top 6!!
107

ty175,

28/03/2008 22:52:07

Fit up the bum Jambo

zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
108

Vlad Magic,

28/03/2008 22:52:38
The very fact that Hibs fans are on here on a Jambo thread shows inferiority, insecurity, and typical Hibernian FC behaviour, WEE TEAM MENTALITY!
109

Sir Brian Hine QC,

Henley-on-Thames 28/03/2008 23:00:49

CJ – 33 - which business school did you go to? - ‘Any transfer of debt would HAVE ZERO effect on turnover’!!! – Obviously it wasn’t the ‘reading between the lines business school’ – Clearly T.O. minus debt still = T.O. but the point your missing is you still have to minus the costs from the TO leaving you with hopefully some kind of profit (whatever that may be) THEN, as I was trying to point out for grown up’s is, once you minus the debt from the profit, you’re seriously fooked....dress it up whatever way it suits but at least Gretna don’t have debt other than running costs
110

ty175,

28/03/2008 23:16:08
121 - Vlad Magic.

is that the bit where he diasappears?

Nice one.
111

the. boke,,

28/03/2008 23:21:19
Vlad aint quite as mad as we think eh.
He owns the bank which holds Hearts debts, therefore he reaps a guaranteed £4m/year in interest f