Hearts’ unnamed benefactor

[Bostonhibby]

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..which is true, AFTER the £2.5m donation.

The good doctor making sure her legacy is a healthy one on paper by providing a loan so the simple fans think they've made an actual profit?

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[CropleyWasGod]

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The good doctor making sure her legacy is a healthy one on paper by providing a loan so the simple fans think they've made an actual profit?

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Is the donation from her? I thought it was the Rosebery family.

[Bostonhibby]

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Is the donation from her? I thought it was the Rosebery family.

Dunno, I genuinely wondered.

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[snooky]

Is it a donation or a loan?
I thought a donation was a gift therefore you don't have to pay it back.

[CropleyWasGod]

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Is it a donation or a loan?
I thought a donation was a gift therefore you don't have to pay it back.

There are 2 things here.

1. the donation from a benefactor, which earlier discussion suggests was from the Rosebery family.

2. in October, they took out a loan of £1.75m. Source and terms as yet unknown.

[Geo_1875]

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There seems to me to be a difference on the one hand between ripping the pi5h out of them when it's merited or looking closely at their dodgy dealings when there are any and on the other becoming obsessional about stuff that just makes us look like the green and white faction of the tin-foil hat brigade.

Put it another way, there's plenty to legitimately laugh at, question and generally ridicule without getting paranoid about an anonymous benefactor openly lodged in their accounts.

Without being accused of paranoia can I ask why someone would make such a large donation anonymously?

Maybe an individual would be scared their wife finds out?

Maybe a company would be scared of the negative publicity of being associated with them?

Maybe a public body who shouldn't be giving them money?

Or maybe something more sinister. We deserve to know.

[CropleyWasGod]

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Without being accused of paranoia can I ask why someone would make such a large donation anonymously?

Maybe an individual would be scared their wife finds out?

Maybe a company would be scared of the negative publicity of being associated with them?

Maybe a public body who shouldn't be giving them money?

Or maybe something more sinister. We deserve to know.

If it's either of the last 2, the whistle would be blown already.

Lots of people make donations anonymously for a variety of reasons. Some people just don't like the limelight. And, yeah, there may be "political" (in the widest sense of the word) for doing so.

Some might fear a brick being put through their window.

[Skol]

Are the roseberry family not a bit shirt of cash. Sure I read they own dalmeny estate and needed money to fund renovations and maintenance.

[Geo_1875]

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Are the roseberry family not a bit shirt of cash. Sure I read they own dalmeny estate and needed money to fund renovations and maintenance.

They're short of other peoples cash while they wait on grants. Still got plenty money to chuck around on horses and other hobbies.

[CropleyWasGod]

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Are the roseberry family not a bit shirt of cash. Sure I read they own dalmeny estate and needed money to fund renovations and maintenance.

They sold a Turner for £30m. a few years ago.

http://www.independent.co.uk/arts-en...e-9901511.html

It also crossed my mind that HMFC's use of the Rosebery colours for their away strip might have been a part of a deal. This is from 2016:-

The club is delighted that the longstanding support of the Rosebery dynasty has been assured as the club continues its remarkable journey. Son of the current the Earl of Rosebery, Lord Dalmeny is a keen Hearts fan and his son, Caspian Primrose proved to be a fine mascot for the team when he took to the field for the victorious end of season encounter against Aberdeen.

[SuperAllyMcleod]

It doesn’t matter who the benefactor is, the important thing is that (unless they make the same donation every year) without it they made a loss and without the FOH money, they made a huge loss.

None of this income is guaranteed, particularly if they continue to play as badly as they are. With a stand to finish, and to finish paying for, they will still be up against it for a wee while to come.

[Iain G]

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It doesn’t matter who the benefactor is, the important thing is that (unless they make the same donation every year) without it they made a loss and without the FOH money, they made a huge loss.

None of this income is guaranteed, particularly if they continue to play as badly as they are. With a stand to finish, and to finish paying for, they will still be up against it for a wee while to come.

What do you mean finish? It's open, it must be finished?!

[MrSmith]

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They sold a Turner for £30m. a few years ago.

http://www.independent.co.uk/arts-en...e-9901511.html

It also crossed my mind that HMFC's use of the Rosebery colours for their away strip might have been a part of a deal. This is from 2016:-

The club is delighted that the longstanding support of the Rosebery dynasty has been assured as the club continues its remarkable journey. Son of the current the Earl of Rosebery, Lord Dalmeny is a keen Hearts fan and his son, Caspian Primrose proved to be a fine mascot for the team when he took to the field for the victorious end of season encounter against Aberdeen.

Growing too much weed probably :\

[NAE NOOKIE]

Making a profit after a gift of 2.5 million or whatever it was is hardly making profit in real terms is it? If I make a living selling pencils and I'm down on the deal at the end of the year I can hardly say my pencil selling business is doing well if I'm adding money I got for Christmas from my uncle Fred onto the books.

Yamenomics at their finest ... even if it is legit to add gifts onto the books

[allezsauzee]

I was told a while back that directors of Baillie Gifford were helping to bankroll the new stand. Wouldn't be investing my hard earned with them if they are so wasteful with their own cash!

[MrSmith]

The mysterious benefactor could in fact be Edinburgh Council? It seems to be pointing that way ... last minute safety cert, GG can fill in the rest re building control and changes not been updated plus, the very reason for being unnamed??? Says it all to me! Probably haven't paid their council tax again.

[jacomo]

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The mysterious benefactor could in fact be Edinburgh Council? It seems to be pointing that way ... last minute safety cert, GG can fill in the rest re building control and changes not been updated plus, the very reason for being unnamed??? Says it all to me! Probably haven't paid their council tax again.

Can't see how ECC could keep that quiet.

Also interesting that they have arranged a £1.75m loan - that must be a VERY trusting bank, given their record of reneging on debt.

[CropleyWasGod]

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Can't see how ECC could keep that quiet.

Also interesting that they have arranged a £1.75m loan - that must be a VERY trusting bank, given their record of reneging on debt.

The jury is out on whether it is a bank.

[Ozyhibby]

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The jury is out on whether it is a bank.

And likely Budge is guarantor for it.


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[lapsedhibee]

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Is it a donation or a loan?
I thought a donation was a gift therefore you don't have to pay it back.

Donation has a special meaning in the land of yams. They donated the war memorial to the City in 1922, but they still own it. According to Julie Andrews anyway.

[RyeSloan]

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I was told a while back that directors of Baillie Gifford were helping to bankroll the new stand. Wouldn't be investing my hard earned with them if they are so wasteful with their own cash!

I very much doubt BG would do anything of the sort from a corporate perspective.

There will be nothing stopping individual partners using their own finances to gift money to them but as they all come from investment backgrounds there can't be many of them that will be prepared simply to throw their money away!

I'm getting a bit lost on all these benefactors Hearts seem to have magically unearthed...are we saying that they were gifted £2.5m this season just to cover running costs, £3.5m to help cover the stand cost AND have a new loan of £1.7m?

[CropleyWasGod]

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I very much doubt BG would do anything of the sort from a corporate perspective.

There will be nothing stopping individual partners using their own finances to gift money to them but as they all come from investment backgrounds there can't be many of them that will be prepared simply to throw their money away!

I'm getting a bit lost on all these benefactors Hearts seem to have magically unearthed...are we saying that they were gifted £2.5m this season just to cover running costs, £3.5m to help cover the stand cost AND have a new loan of £1.7m?

£1.5m from FOH for the stadium. £2.5m donation from "TBE". Both within that year.

£1.75m loan in October.

[Viva_Palmeiras]

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Is the donation from her? I thought it was the Rosebery family.

Are donations classed as taxable income?

[Wembley67]

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I was told a while back that directors of Baillie Gifford were helping to bankroll the new stand. Wouldn't be investing my hard earned with them if they are so wasteful with their own cash!

If they were, that's personal cash and not the companies.

[RyeSloan]

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£1.5m from FOH for the stadium. £2.5m donation from "TBE". Both within that year.

£1.75m loan in October.

Ahh OK thanks so the £2.5m is not new then, Budge has raised that a number of times as being part of the stand funding has she not?

But the question is then I suppose how much of the stand cost has been reflected in these accounts? As it would seem, on the face of it, that this cash appears to have been used for running costs rather than capital expenditure (although I've only skimmed this thread and not read any of the accounts )

[CropleyWasGod]

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Are donations classed as taxable income?

How long do you have?

In this case, I don't think it will be. Although it's been included in the P&L account as income, I am guessing that it's a capital contribution to the new stand. As such, it might become taxable if and when they sell the stadium; in other words, very unlikely.

The Yams think so, too. The relevant note in the accounts more or less says that.

[CropleyWasGod]

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Ahh OK thanks so the £2.5m is not new then, Budge has raised that a number of times as being part of the stand funding has she not?

But the question is then I suppose how much of the stand cost has been reflected in these accounts? As it would seem, on the face of it, that this cash appears to have been used for running costs rather than capital expenditure (although I've only skimmed this thread and not read any of the accounts )

Yeah, she has, which is where the assumption that it's Rosebery money comes from.

They have included £5.5m costs of the new stand; presumably, that's what they had spent up to the end of June.

Thinking more on this, there is an argument to say that the £2.5m should have been deducted from the £5.5m in the accounts, as it seems to be a contribution to the new stand. I don't think it has been used for running costs, as you suggest, just that it might be (in accounting terms) in the "wrong place".

Whichever way you slice it, they traded at a loss... a loss that was not much less than ours.

[EastThomasSTboy]

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I was told a while back that directors of Baillie Gifford were helping to bankroll the new stand. Wouldn't be investing my hard earned with them if they are so wasteful with their own cash!

I heard it was 3 Directors, all Rugby wallahs, from Hearts supporting families who work at Baillie Gifford and have donated over £6 million between them, for the new Stand.

[G B Young]

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Yeah, she has, which is where the assumption that it's Rosebery money comes from.

They have included £5.5m costs of the new stand; presumably, that's what they had spent up to the end of June.

Thinking more on this, there is an argument to say that the £2.5m should have been deducted from the £5.5m in the accounts, as it seems to be a contribution to the new stand. I don't think it has been used for running costs, as you suggest, just that it might be (in accounting terms) in the "wrong place".

Whichever way you slice it, they traded at a loss... a loss that was not much less than ours.

What's the Rosebery connection to Hearts? Is it a historic thing? This guy is the current Earl and he just strikes me as unlikely type to be throwing £2.5 million at a football club:

http://www.edinburghnews.scotsman.co...oter-1-3829222

[BSEJVT]

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I heard it was 3 Directors, all Rugby wallahs, from Hearts supporting families who work at Baillie Gifford and have donated over £6 million between them, for the new Stand.

Don't believe everything you hear and don't listen to things you hear when you are pished

Folk with that type of money didn't acquire it by doling it out anonymously to organisations they have no real involvement with.

They give it to charities and are most like to be seen as the good people they are for doing so.

Anybody giving serious monies to a Football Team is off their chump, you only have to look at the abuse STF has received over the year for not bankrolling Hibs further.

The point most folk continuously miss over this entire issue in amongst the smokescreen of anonymous benefactors is how much FOH have given them.

Even the stupidest arse in the land will finally get something to work eventually, when they do the FOH monies will give them a huge financial advantage over us unless we step up to the plate collectively

That is why the continuing lethargy over HSL and snails pace progress on anything that HSL do is so damaging to us in the long term.