Save the Children

[cocteautwin]

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In that scenario, it depends who does the invoicing. If it's HMFC, it's £600k. If it's STC, it's £500k; the individual would have to stipulate that the funds are restricted, ie ring-fenced for HMFC.

Yes, that hits the nail on the head. Budge gives STC £500k donation with the stipulation the money goes to HMFC, a payment (VAT free) for shirt sponsorship. There's our angle.

[CropleyWasGod]

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Yes, that hits the nail on the head. Budge gives STC £500k donation with the stipulation the money goes to HMFC, a payment (VAT free) for shirt sponsorship. There's our angle.

The angle being?

HMFC get £500k. End of. No loss of VAT.

And where did Budge come from? If she did that, the donation would have to be shown in the accounts, so it's hardly anonynmous.

[southfieldhibby]

However and whoever, fair play to the jambos on this. Better than bookies or peeve ffs.

[cocteautwin]

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More likely that someone has paid hearts a decent amount of money for shirt sponsorship rights, has then “donated” these rights to save the children allowing them to utilise the advertisement space that they have purchased and then classing it as a charitable donation to affect their tax liabilities or something like that.

Good deal for save the children and a positive image projected by the club in having a charity as their sponsor after years of Ukio Bankas and Wonga but I’m guessing the angle being played by the anonymous donor is one of tax avoidance but ensuring the money goes to hearts rather than paying it directly to a charity.

If this is the case then the monies should certainly be added to this:

"Whatever the answer is, I do wonder if this extra 500k pa needs to be added to the overall total of monies injected in to Project Hearts since Admin? Should this total now be £15m + £1.5m (3 years STC) + £0.5m (this year STC) = a running total of £17m ????"

Actually I forgot this years FOH contributions. Is the money now injected in to project Hearts closing in on £20m since Admin? A lot of money to pay for one season finishing 3rd and nothing else to show for it.

[NAE NOOKIE]

After what happened Hertz needed a boost to the club's image ... lets face it a real big boost ... The 'Save the Children' deal is a perfect way to do that, its pretty clever to be fair to them. What it isn't any way shape or form is a selfless act by the club where they have forgone revenue in order to help a charity. this is purely a business move and in my opinion a pretty cynical one ... its a fine line between helping a charity and using them.

Hertz sail pretty close to the wind when it comes to abusing their WW1 connection to sell merchandise and this IMO is no different.

[Onceinawhile]

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The angle being?

HMFC get £500k. End of. No loss of VAT.

And where did Budge come from? If she did that, the donation would have to be shown in the accounts, so it's hardly anonynmous.

If it was done that way presumably the charity claims gift aid as well and they win out of it again.

Do not understand why people care.

Charity gets open sponsorship for free. Hearts don't lose out or materially gain.

[cocteautwin]

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The angle being?

HMFC get £500k. End of. No loss of VAT.

And where did Budge come from? If she did that, the donation would have to be shown in the accounts, so it's hardly anonynmous.

If it was sent to STC first and then on to HMFC I don't think this would need to be disclosed as a related party transaction would it?

[CropleyWasGod]

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If it was sent to STC first and then on to HMFC I don't think this would need to be disclosed as a related party transaction would it?

If it was ring-fenced, yup. It's effectively a donation from AB.

Still not getting your "angle", though. Nobody is losing out here.

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[danhibees1875]

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If it was done that way presumably the charity claims gift aid as well and they win out of it again.

Do not understand why people care.

Charity gets open sponsorship for free. Hearts don't lose out or materially gain.

In fact, if it has been done in a way that someone just wanted to give money to Hearts, then they could have just done so and left Hearts to be sponsored by something more corporate, like a bookies.

I don't think there is much to beat Hearts with here, there's plenty elsewhere for people though.

[hughio]

Can we please just leave this?

Save the Children is far better than any gambling logo.

We need to acknowledge that.

Some wealthy Hertz supporter has saved themselves tax by arranging it.

[Kato]

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If it was done that way presumably the charity claims gift aid as well and they win out of it again.

Do not understand why people care.

Charity gets open sponsorship for free. Hearts don't lose out or materially gain.

I think they do, part of the deal is that Hearts are paid to have to wear the logo.

[CropleyWasGod]

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If it was done that way presumably the charity claims gift aid as well and they win out of it again.

Do not understand why people care.

Charity gets open sponsorship for free. Hearts don't lose out or materially gain.

If the donor wasn't an individual, there wouldn't be Gift Aid. If it was, though, you're right; quids in.

Hearts do gain, though.

[Onceinawhile]

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I think they do, part of the deal is that Hearts are paid to have to wear the logo.

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If the donor wasn't an individual, there wouldn't be Gift Aid. If it was, though, you're right; quids in.

Hearts do gain, though.

Not anymore than they would do if they were receiving the same amount from another sponsor though is what I was trying to drive at.

[CropleyWasGod]

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Not anymore than they would do if they were receiving the same amount from another sponsor though is what I was trying to drive at.

Gotcha. Agreed

[Joe6-2]

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See our lagging neighbours have renewed Save the Children as their shirt sponsors for the next 3 years. Much as I think I it’s a great charity, can’t see them paying Hearts to be on their shirts!

So who’s funding it, as Hearts won’t be doing this for free, as they could have got a tidy sum from another sponsor!

I sincerely hope not, I give to this great cause, but I would hate the thought of a penny of mine going to them

[Kato]

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Not anymore than they would do if they were receiving the same amount from another sponsor though is what I was trying to drive at.

Not in a monetary sense but they do get pretend there is some sort of largesse on their part, which many of their fans believe and which just isn't the case.

[Onceinawhile]

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Not in a monetary sense but they do get pretend there is some sort of largesse on their part, which many of their fans believe and which just isn't the case.

So they get a tiny, minuscule, reputation boost in the eyes of fans in scottish football who care about sponsors. So maybe 12-13 people.

It's really not worth it.

[Geo_1875]

When it was first announced did they not say that there were no offers on the table from "acceptable" sponsors so they were proud to be linked with Save The Children, or something like that. If you replace acceptable with any, that might be nearer the truth.

[worcesterhibby]

Shall we all just agree that a great charity benefits and it's certainly better than encouraging people to take out 1000% loans with Wonga.

Not everything Hearts do is evil, illegal or immoral.

[blackpoolhibs]

The Hearts shop have a special offer on, its selling fathers day cards in packs of 4.

[Albanian Hibs]

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The Hearts shop have a special offer on, its selling fathers day cards in packs of 4.

😂

[heretoday]

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However and whoever, fair play to the jambos on this. Better than bookies or peeve ffs.

Hear Hear. Some folk are a little over-obsessed with our city rivals methinks.

[Bostonhibby]

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The Hearts shop have a special offer on, its selling fathers day cards in packs of 4.

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[Diclonius]

I'd rather we had a charitable organisation as our sponsor than a gambling company whose motives/objectives are pretty much to do the exact opposite.

[Keith_M]

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However and whoever, fair play to the jambos on this. Better than bookies or peeve ffs.

Fair play to the person who actually gave the money.... the Jambos are only doing it because they're being paid.

[PatHead]

Is there any advantage to the donator in giving the money to Hearts rather than donating it directly to the charity?Personally if I was in the position to make such a large donation I would want as much of it as possible to go to the charity. I can’t believe that a shirt sponsor deal would raise the profile of the charity by much.

[CropleyWasGod]

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Is there any advantage to the donator in giving the money to Hearts rather than donating it directly to the charity?Personally if I was in the position to make such a large donation I would want as much of it as possible to go to the charity. I can’t believe that a shirt sponsor deal would raise the profile of the charity by much.

First off, and Hsl started the practice on here recently, isn't the word "donor"? Apologies if I'm not down with the modern jive.....

It's potentially better for an individual donation to be better for the charity, due to Gift Aid. If it's a corporate donation, it makes no odds to the charity.

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[Billy Whizz]

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Shall we all just agree that a great charity benefits and it's certainly better than encouraging people to take out 1000% loans with Wonga.

Not everything Hearts do is evil, illegal or immoral.

Are STC getting any money from this, or is it just awareness of the charity on TV etc

[cocteautwin]

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Are STC getting any money from this, or is it just awareness of the charity on TV etc

I had a look on kickback to garner further information on this deal. According to them the money is donated by 3 local businessmen, £500k to HMFC £500k to STC, £1m a year for the past 3 years and the next 3 years. That adds up to another £3m cash injected in to project HMFC on top of the £15m I’ve previously calculated. It really does highlight the big difference between us and them when it comes to finding suckers to inject cash in to a bottomless money pit. Good on them.

It would almost be worth it for those HMFC donor fans if it had translated in to results on the pitch but fortunately for us they seem to want to continue letting their incompetent manager/DOF continue with his money wasting sprees of average signings and the occasional galactico. We’re in the middle of Craigie Boy’s third Jambo clearance/replacement cycle at the moment aren’t we?

It really is an astonishing amount of cash to get them to where they are today. 6th.


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[Eyrie]

I'm looking on the bright side. After spending all that money for three seasons, Hearts are heading in the right direction.