Not for jumping
The statement expected at 11am finally came at 3.30pm.
As far as I can see it answered just two questions: Mr Hain is not for jumping and yes, he's going to repay the £25,000 interest free loan he got from diamond broker, Willie Nagel, via the PPF think-tank.
These are the facts that remain:
Progressive Policies Forum were set up a few weeks after Mr Hain said he was going to stand for the deputy leadership. It appears to have done very little to progress any policies.
One of its trustees, John Underwood, was one of Hain4Labour's main money men. I've spoken to more than one source who were closely involved in the campaign. They're agreed on one thing: they regarded John Underwood as the Hain campaign treasurer.
Some of those whose donations were channelled via PPF had decided against donating to the Hain campaign because they didn't want their names to be made public.
All of those who donated via PPF now say they are happy that their money went to the campaign but it's nowhere near clear that they were asked first, as they should have been. One says he can't remember but he might have been; one says he wasn't asked; another seemed to say he wasn't asked but in a statement, then skirted the issue.
The donations, say Mr Hain, were made by people who were legally entitled to do so but it's a fact, driven home by this morning's papers, that it doesn't look good nor feel right.
Mr Hain is no fool and won't even dare to think it's all over.
And all for the pleasure of beating Hazel Blears into last place