Archive for March, 2008

MyFootballClub – Reality Bites

Monday, March 31st, 2008

The twohundredpercent blog reported on happenings at Ebbsfleet United five weeks after the takeover by MyFC, in particular how the principle of 29,000 members picking the team is working out in practice.

Twohundredpercent: Ghosts In The Machine

Invest in an ISA and support the Raith Trust!

Friday, March 28th, 2008

L&GIsn’t it lovely when nice things happen?

L&G is offering cashback for you and £110 to The Raith Trust when you invest in a new ISA or top-up your ISA before the end of the tax year.

Cashback will be available for all index-tracking ISAs:

  • SPREAD THE RISK – L&G index-tracking ISAs spread the risk by tracking markets and sectors.
  • YOU’RE IN CONTROL – Invest in the UK, further afield or into a specific market sector, it’s up to you.
  • SECURITYL&G has been offering this type of investment for over 10 years, with over £3.9 billion under management (as of February 2006).
  • LOW COST INVESTMENT – there are no initial charges or withdrawal fees.

YOUR CASHBACK – Get your 2008 annual management charge refunded when you invest at least £4,000 in a Legal & General index-tracking trust ISA or top-up at least £500 in an existing investment.

Charges will be refunded from the day you invest until December 31st 2008. The refund will be paid by BACS in February 2009.

Hearts’ Spiralling Debt

Friday, March 28th, 2008

I was browsing a website called this morning and found a couple of articles about Hearts.

The first one is from February of last year and announces that the club would be asking shareholders to approve an increase in the board’s borrowing power, doubling the amount from £20 million to £40 million. Apparently, the club would not be increasing its debt by GBP 20 million but wanted to be able to pay for ground redevelopment, among other things, over the coming years.

The next one is from earlier this week, in advance of the publication of the club’s accounts for the year ending 31st July 2007 (five months after the motion to increase their borrowing power). It is anticipated that when the accounts are published they would include a record level of debt – £37 million.

In the meantime, they’ve sold Craig Gordon, but despite this I am extremely concerned for their future. With their debt accumulating at such a rate the’ll need to bring in a similar transfer fee every season just to stay where they are.

UPDATE (10th June): Looks like things could take a turn for the worst – HSBC Invoice Finance have petitioned the courts to wind up Heart of Midlothian PLC (you’ll need to scroll down a bit to see the reference to their petition) Scottish Courts website

Trust Board Meeting, 25th February 2008

Wednesday, March 5th, 2008

Venue: Novar Bar, Kirkcaldy

Present: Alan Russell (AR), Blair White (BW), Graeme Condie (GC), John Mainland (JM), James Proctor (JP), Tam Cunningham (TC) and Tom Philips (TP)

Apologies: None received


Raith Trust Praised in Parliament

Sunday, March 2nd, 2008

A recent members’ debate in the Scottish Parliament has praised the work of the Raith Trust and the other supporters’ trusts across Scotland.

The debate, held on Wednesday 20 February, discussed the motion from local MSP, Marilyn Livingstone:

That the Parliament welcomes the work of Supporters Direct in Scotland; recognises its contribution to Scottish football and believes that supporters’ trusts provide the best mechanism for involving communities in their football clubs and that the Raith Trust in the Kirkcaldy parliamentary constituency is an excellent example of where supporters’ trusts promote community empowerment and strengthen local football teams, and believes that they should continue to be supported.

The motion received cross-party support and speakers of the four main parties in the Parliament took the opportunity to praise the hard work of supporters right across Scotland.

Link to Official Scottish Parliament Transcript

Brown praises Raith training move

Sunday, March 2nd, 2008

Prime Minister Gordon Brown has praised the role of his favourite football club in helping youngsters acquire skills for employment.

BBC NEWS | Scotland | Brown praises Raith training move