Hibs debt?

[euansdad]

I have seen people on here say hibs are running at a loss. To be honest, I'm far from a finance expert. What is the state of the clubs finances?

[Hibbyradge]

I have seen people on here say hibs are running at a loss. To be honest, I'm far from a finance expert. What is the state of the clubs finances?

We have a planned mortgage of around £6m.

We have had losses during the last 3? years amounting to around £2-3m.

[euansdad]

Excuse me for sounding thick but does that mean it is at a manageable level?

[cocopops1875]

2010-2011 Key Points
Key points from the Financial Statements include:

• Loss for the year of £0.9m

• Staff Costs remained static at £4.8m - representing a ratio of 69% to Turnover

• Turnover reduced by £0.1m to £7m

• Operating Costs were £3.4m

• Net Asset position reduced to £14.4m

• Net Debt of £5.9m, positive Cash Balance of £2m

[Oscar T Grouch]

Although we have the mortgage, we own our ground and our training complex, our assets are in a good state. The debt is manageable but we can't keep making losses. But as things are picking up on the pitch now we should get more through the gates, the higher in the league we finish the more prize money we get, European fitba' etc. We are in a better state than most clubs in this division.

[iwasthere1972]

We're considerably richer that the Yams.

[euansdad]

Thanks for the summary lads

[Keith_M]

The last few years have seen a very large turnover in both players and coaching staff, which is very expensive. This is almost wholly down to the lack of success during the period. A knock on effect of the lack of success is fewer fans through the turnstyles therefore less money coming in.

To answer the question, that is NOT a sustainable way to run a football club. However, it seem we are seeing some turnaround in the performances, therefore (hopefully) halting the vicious circle of

'on field failure - crowds decrease - sack current manager - pay him off- pay for new manager - pay off previous duds - buy new duds - on field failure - crowds decrease -sack current manager.....ad infinitum'

[hibs0666]

We're considerably richer that the Yams.

We are indeed - I reckon we're worth around £30 million more than them.

[cocopops1875]

Key points from the Financial Statements include:

• Loss for the year of £0.9m

• Staff Costs remained static at £4.8m - representing a ratio of 69% to Turnover

• Turnover reduced by £0.1m to £7m

• Operating Costs were £3.4m

• Net Asset position reduced to £14.4m

• Net Debt of £5.9m, positive Cash Balance of £2m
Now im not too sure as i dont really do this kinda thing but the new accounts are due but these would be from early in 2011 since then the attendences dropped and other than a cup run there must have been a massive drop in revenue, the cup run will have masked this a bit but we have also paid of a managment team and brought in some new staff. I would be shocked if there would have been a reduced loss by the start/early this year so losses will be the same or more at a guess. Still workable but maybe getting to be a concern

[cocopops1875]

We're considerably richer that the Yams.


We are indeed - I reckon we're worth around £30 million more than them.

Regardless of anything i have said before THIS IS TRUE :agree::thumbsup:

[Hibercelona]

We are indeed - I reckon we're worth around £30 million more than them.

Thats before you include their debt! :cb

[HUTCHYHIBBY]

We're considerably richer that the Yams.

Reminds me of Harry Enfields Brummie Character - I am considerably richer than you!

[euansdad]

If we are 30 million richer than them, probably makes us 20 million lol

[iwasthere1972]

Reminds me of Harry Enfields Brummie Character - I am considerably richer than you!

:agree: That's where it's from. Love it. That and loadsamoney.