Alex Salmond - I need to do all I can for Hearts

[ian1964 10,761]

FIRST Minister Alex Salmond has contacted the Lithuanian ambassador to the United Kingdom in a bid to help Hearts complete their exit from administration.

 

Salmond, a Hearts supporter, remains hopeful that the deal can be completed, although last night both club administrator Bryan Jackson of BDO and a spokesperson for the Foundation of Hearts said there had been no further developments.

 

Jackson is still awaiting an invitation to return to Lithuania to resume talks with his counterparts at Ukio Bankas. Those talks stalled last week, on the same day that creditors of Ubig, another company formerly controlled by Vladimir Romanov, approved the sale of their 50 per cent share in the Tynecastle club.

 

Ukio have a smaller shareholding of just under 30 per cent, but hold a security over Tynecastle. If they agree to sell both shares and security, Hearts will be able to proceed with the Company Voluntary Arrangement they have made with the Foundation, the supporters’ umbrella body which aims to buy control for £2.5million.

 

Jackson warned last week that the club was fast running out of money, and that a deal had to be finalised by around the end of this month. Foundation chairman Ian Murray, the Member of Parliament for Edinburgh South, has also said that his organisation needs to complete the takeover soon in order to allow planning for next season to begin.

 

Murray and Lord Foulkes, a former chairman of Hearts, have had several meetings with ambassador Asta Skaisgiryte-Liauskiene in recent months in the hope of speeding up the process. It remains uncertain how much direct influence any politician can have on the arcane workings of the Baltic republic’s legal system, but Salmond believes that he too should be seen to be doing everything he can.

 

“At the request of the Hearts administrators I phoned the Lithuanian ambassador to try and facilitate the important moves that are being made,” the First Minister said yesterday. “I should say I’m a Hearts supporter, obviously, I declare an interest, but I’ve made the same approaches when necessary with other football clubs in Scotland who’ve been similarly struggling.

 

“And of course I would always do that as First Minister, because it’s part of the First Ministerial role to help Scottish football, to help Scottish clubs when you can. And I’m sure that everyone in Scottish football, whatever team they support, wants to see Hearts back fighting fit, and part of the firmament of our national game.”

 

Salmond declined to give details of his talks other than to suggest they had been positive. “They were helpful conversations and of course progress has been made,” he continued. “But the people behind the eight ball here are the administrators, and like every other Hearts fan in the country, I’m anxious to see more progress made. However, we know progress has been made and we’re hoping that things will reach a successful conclusion.”

 

Unless Ukio’s creditors come to an agreement with BDO soon, Jackson would appear to have little option but to start planning for the liquidation of the football club.

 

Hearts should be able to fulfil their fixtures for the rest of the season – they have five league games left, starting with a home match on Saturday against Ross County – but as things stand they will have no money to continue on into next season.

 

Last night Labour peer Lord Foulkes welcomed the First Minister’s intervention, while pointing out that similar activity had been going on behind the scenes for some time. “It is good he is supporting Ian Murray and me who are in regular contact with Lithuanian ambassador & UK ambassador in Lithuania,” he said on Twitter.

 

http://www.scotsman.com/sport/football/spfl/i-need-to-do-all-i-can-for-hearts-alex-salmond-1-3377777

[Doc 280]

“And of course I would always do that as First Minister, because it’s part of the First Ministerial role to help Scottish football, to help Scottish clubs when you can. And I’m sure that everyone in Scottish football, whatever team they support, wants to see Hearts back fighting fit, and part of the firmament of our national game.”

 

Noble sentiments Alec but where were you and your sentiments in 2012 when another club was fighting for its life? Were you having meetings with key investors or creditors and using the status of the first minister's office to help? No you were nowhere to be fucking seen. I hope Hearts come out of this OK but the level of hypocrisy and the lack of even handedness on show here STINKS.

[andy steel 0]

Can't argue with Doc.

 

No-one wanted to touch us with a barge pole when the lynch mob came round the corner. Even allowing for the hideous behaviour of Whyte and his cronies, given the impact the event had on innocent supporters it should not have been asking for too much for a bit of political support from someone, somewhere.

 

Cowardice won out, I'm afraid. Not much chance of an Andy Burnham for us!

[The Real PapaBear 0]

can't argue with Doc - unless we look at what Alex Salmond *actually* did and said, as opposed to what the race memory of Rangers fans says he did and said:

 

This for example:

 

Feb 16 2012: “In the last few weeks I contacted both Rangers and HMRC, whose record in court is not particularly good at the present moment and I said once this Tribunal which is adjudicating on what genuinely owed – once that Inland Revenue Tribunal sets a sum – can’t that not be agreed as the sum that has to be paid and a time scale agreed to allow the club to pay it without going out of business.

 

“Now that seems to me an entirely reasonable proposition that would allow the Inland Revenue to get what they are due and allow Rangers to pay their obligations but continue as a vibrant part, not just of Scottish football, but of Scottish culture. I still think that is the best way forward.

 

“Perhaps people should concentrate on coming to an agreement and moving forward and keeping Scottish football intact with a great future.

 

“I want to see Rangers continue for the next century and more, contributing to the excitement and fun of Scottish football.”

 

 

or this:

 

“The First Minister has had one discussion with HMRC on the issue – a phone call on 11 January. As the First Minister has already made clear in an interview broadcast two weeks ago, the discussion centred on securing a settlement to enable Rangers to meet their obligations to the taxpayer and continue in business.”

 

or Salmond being interviewed by David Frost:

 

"We've certainly been arguing to HMRC on one hand, and indeed to Rangers, to for goodness sake get a settlement, get a settlement and a structure over time whereby Rangers can continue because Rangers must continue for the future of Scottish football and for the fabric of the country."

 

and or old friend Alex Thomson putting the boot into Salmond for trying to help Rangers: http://blogs.channel4.com/alex-thomsons-view/political-interference-scottish-football/1134

[TheTinMan99 0]

Here we go.......

[ian1964 10,761]

@BBCBMcLauchlin

 

A meeting of the creditors committee of UKIO Bankas has now approved the sale of the shares held in Hearts

[ian1964 10,761]

@BBCBMcLauchlin

 

BDO will now finalise the deal and prepare for the handover of Hearts to Ann Budge

[The Real PapaBear 0]

Well, lucky old Hearts that they were dealing with foreigners and not with Her Majesty's Government.

[ian1964 10,761]

Hearts: Ukio Bankas agrees sale of shares as club nears safety

By Brian McLauchlin BBC Scotland

 

Hearts moved a step closer to coming out of administration after creditors of a failed Lithuanian bank approved the sale of shares in the club.

 

Businesswoman Ann Budge has been awaiting an agreement so she can complete a £2.5m takeover of the Scottish Premiership outfit.

 

Ukio Bankas owns 29% of Hearts' shares and security over Tynecastle Stadium.

 

But that will now be sold following agreement at a meeting of Ukio Bankas' creditors committee.

 

“A sale and purchase agreement needs completed, but we can say the deal is done”

 

Ian Murray Foundation of Hearts

 

It follows a deal signed last with the bank's parent company, UBIG, to buy the investment company's 50% holding in Hearts.

 

Ian Murray MP, of the Foundation of Hearts fans group, said: "UKIO Bankas creditors met this morning and approved the deal.

 

"A sale and purchase agreement needs completed, but we can say the deal is done."

 

Hearts can begin exiting administration after 27 April - following of 20-day cooling-off period for the UBIG share deal.

 

The football club's administrator, BDO, had feared running out of cash - and liquidation - had there been a further delay to the Ukio Bankas deal.

 

It approached the Scottish Professional Football League to establish if money due to be handed out at the end of the season could be paid to the club now to ensure they could fulfil their fixtures.

 

BDO had warned that there was only enough money to keep Hearts going until the end of April.

 

Hearts entered administration in June with debts close to £30m.

 

They started the season with a 15-point penalty for being in administration and sit bottom of the table, with relegation already a certainty.

 

Budge has said she will pass on control of the Edinburgh club from her BIDCO takeover vehicle to the Foundation of Hearts within the next five years.

 

http://www.bbc.co.uk/sport/0/football/27048050

[andy steel 0]

Meh.

 

I still distinctly remember the ostracism, and not Papa Bear, nor quotses, no, nor even my SNP membership card will persuade me otherwise.

 

For goodness' sake, the anger is all I have left to kept me interested! They can't take that away from me.