SteveC 150 Posted January 22, 2014 Share Posted January 22, 2014 A DEAL to transfer Ukio Bankas Investment Group’s 50 per cent shareholding in Hearts to the Foundation of Hearts has been agreed, the Evening News can reveal. The agreement needs to be ratified legally in Lithuania, but would see a token £50,000 payment for the shares made to UBIG’s administrators, allowing the Edinburgh club to exit administration with the Foundation as their new owners. Hearts’ administrators BDO are proceeding with caution in the hope that the deal can go through despite UBIG’s assets being frozen. Foundation of Hearts already have a £2.5million Creditors’ Voluntary Arrangement (CVA) in place to secure 29.9 per cent of the club’s shares from Ukio Bankas, who are also in administration. The CVA is conditional upon the fans’ umbrella group getting UBIG’s 50 per cent stake. BDO have been in talks with UBIG’s administrators Bankroto Administrativo Paslaugos for some time trying to negotiate the handover of shares. This is the only remaining hurdle to Hearts exiting administration after the CVA was voted through last November. There is now a verbal agreement between both parties for the transfer of shares at an agreed price. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,808 Posted January 22, 2014 Share Posted January 22, 2014 So much for retaining "sporting integrity" and not gaining an unfair "financial advantage". When it was obvious that Hearts' wrongdoing was essentially all self-imposed. In essence, they'll say that Hearts have already been "punished" and will meet us in the "Championship" next season. We'll see how they manage there. 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,742 Posted January 22, 2014 Share Posted January 22, 2014 So much for retaining "sporting integrity" and not gaining an unfair "financial advantage". When it was obvious that Hearts' wrongdoing was essentially all self-imposed. In essence, they'll say that Hearts have already been "punished" and will meet us in the "Championship" next season. We'll see how they manage there. Let's thrash them !!!!!! 0 Quote Link to post Share on other sites More sharing options...
26th of foot 6,119 Posted January 22, 2014 Share Posted January 22, 2014 Remember, the ground has been well prepared reference Hearts. The usual suspects who bayed for Rangers blood have stated and repeated continually that Hearts supporters have NOT blamed anyone else, accepted their collective guilt, and shown the necessary contrition. The usual suspects are actively willing Hearts(Dunfermline too) to survive, goodwill is on their side. Further, Hearts have benefitted from considerable cross-party political support. We had the muted support of the local MP, what did the three counsillors for Ibrox say? How about the MSP, or the MEP? Political offices of several national designations have been made available and utilised. Reference sporting integrity, when do you think Rangers supporters will be allowed to vote on another clubs existence/ Answers on a sackful of postcards to Jum Spence, Stuart Cosgrove, Tom English, Chris McLaughlin, ....................................................... etc 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,742 Posted January 22, 2014 Share Posted January 22, 2014 Our problem was Craig Whyte and how he got Rangers.Until the full story is known (and it will come out in due course) then we'll just have to suffer and watch things like this. Hertz will get relegated and I'm not so sure they'll find it quite so easy to return to the top division as they think.One wonders if their new owners have the money to finance an extended stay outwith the top division 0 Quote Link to post Share on other sites More sharing options...
Gribz 919 Posted January 22, 2014 Share Posted January 22, 2014 Hearts still have 2 seasons in the Championship though. But I can honestly see a restructure meaning 2 teams will go up next season. 0 Quote Link to post Share on other sites More sharing options...
True_Ger_1872 2 Posted January 22, 2014 Share Posted January 22, 2014 If Hearts finishe second then they can get into the playoff and if they win that the they can return to the Premiership same season as we do - i think anyways? 0 Quote Link to post Share on other sites More sharing options...
bluebear54 0 Posted January 22, 2014 Share Posted January 22, 2014 Hearts have never been the subject of the type of irrational and rancid hatred from a large part of the Celtic support. And they have never been a threat to Celtic getting in the Champions League. They have also never had the success we have had, nor have they thrown money at other Scottish Clubs for their best players. Therein lie the differences. We on the other hand have consistently bought other Clubs' prize assets, and that has always engendered resentment. The fact that the money kept Clubs like Hearts, Dundee Utd and Hibs going seems to be forgotten. Yes, we were a victim of Whyte, but we were also a victim of jealousy, bitterness and resentment. Add in the fact that writing sensationalist stories about Rangers guarantees newspaper sales and you have the perfect storm that we are still part of. 0 Quote Link to post Share on other sites More sharing options...
Gribz 919 Posted January 22, 2014 Share Posted January 22, 2014 If Hearts finishe second then they can get into the playoff and if they win that the they can return to the Premiership same season as we do - i think anyways? Currently there is no play off between the team that finishes 2nd in the championship and 2nd bottom in the premier.....but I can see that changing or an expansion to 14 teams. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted January 22, 2014 Share Posted January 22, 2014 Hearts still have 2 seasons in the Championship though. But I can honestly see a restructure meaning 2 teams will go up next season. If there is a further restructure, it will not be implemted immediately. 0 Quote Link to post Share on other sites More sharing options...
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