Official Site: HIBERNIAN - WINNING TOGETHER ON AND OFF THE FIELD

[RSS Bot]

More... (http://www.hibernianfc.co.uk/news/6904)

[Col2]

Some interesting results here.

We all expected that the cup runs would offset the overspending and this is now confirmed.

Wages ratio very healthy if we maintain this level of turnover this season.

Shares owned by Hibs supporters much higher that I thought and actually much further ahead than Yam model but only a tiny bit of publicity.

Doesn't say what remaining inhouse debt will be but I assume we paid first £500k instalment so should be £4.5m?

Great piece from Rod as well!!!

[3pm]

Good stuff.

:flag:

[Tyler Durden]

More... (http://www.hibernianfc.co.uk/news/6904)

Wish we'd stop with this "Premiership club playing in the Championship" stuff.

[Tyler Durden]

Some interesting results here.

We all expected that the cup runs would offset the overspending and this is now confirmed.

Wages ratio very healthy if we maintain this level of turnover this season.

Shares owned by Hibs supporters much higher that I thought and actually much further ahead than Yam model but only a tiny bit of publicity.

Doesn't say what remaining inhouse debt will be but I assume we paid first £500k instalment so should be £4.5m?

Great piece from Rod as well!!!

You're right about the debt.

Don't see much prospect of us maintaining that turnover level unless we can get to Scottish Cup final again. However the cup final photos and DVDs etc should certainly help.

[jax67]

Great news!! Our club is in good hands.

[lyonhibs]

Wish we'd stop with this "Premiership club playing in the Championship" stuff.

I can only surmise they mean from a facilities and spending POV.

If they mean from a footballing perspective, then I'd agree in our 3rd consecutive season down here, they're clutching at rapidly disappearing straws.

[Gatecrasher]

Good news all round, No external debt and £2.5 million in the bank stood out for me, that's awesome.
Supporters owning over 30% of the club is huge as well. Regaining some momentum on the park will really get the feel good factor again.

[hibbysam]

You're right about the debt.

Don't see much prospect of us maintaining that turnover level unless we can get to Scottish Cup final again. However the cup final photos and DVDs etc should certainly help.

DVD's should be a massive hit for the club, but let's not forget that season tickets are up well over 3000 this year with half seasons still to come. Attendances have basically doubled on last year.

[itslegaltender]

However, accounts brought forward a month means that was result over 11 months. Also is the revenue from fans from shares included in the p & l ? If it is, this is a revenue stream that will finish when we own the targeted %. So potentially we should be looking at what it would have looked like on 12 months without that revenue stream.

[matty_f]

Imagine winning the Scottish Cup without almost killing your club to achieve it. No tainted cup win for the Hibees! :greengrin

[Col2]

You're right about the debt.

Don't see much prospect of us maintaining that turnover level unless we can get to Scottish Cup final again. However the cup final photos and DVDs etc should certainly help.

Our average attendance is up c3500 and if this is consistent throughout the season that say 3500 X £20 X 18 games which is £1.26m which is about the amount we made (roughly) from cup games.

[Oscar T Grouch]

Over 30% fan owned and yet the beacon of fan ownership seems to shine from the buthole of Anne Budge? Weird eh?

[California-Hibs]

Fantastic read! Let's not forget how much of another cash boost we're also going to get through the Cup Final DVD sale. I hope Hibs are prepared for demand because if we sell 10k for example, at the 25 quid price, that's 250k put right into the club!!

[GloryGlory]

Fantastic read! Let's not forget how much of another cash boost we're also going to get through the Cup Final DVD sale. I hope Hibs are prepared for demand because if we sell 10k for example, at the 25 quid price, that's 250k put right into the club!!

Minus production costs and VAT.

[GloryGlory]

However, accounts brought forward a month means that was result over 11 months. Also is the revenue from fans from shares included in the p & l ? If it is, this is a revenue stream that will finish when we own the targeted %. So potentially we should be looking at what it would have looked like on 12 months without that revenue stream.

No, it is a balance sheet entry - increases cash at bank, contra entry increases equity issued.

It only goes through P&L when we start spending it on something - staff wages, transfer fees, other costs.

[Keith_M]

You're right about the debt.

Don't see much prospect of us maintaining that turnover level unless we can get to Scottish Cup final again. However the cup final photos and DVDs etc should certainly help.


Our average league attendance last season was 9,300. Our average attendance for the first four league games this season was 15,300.

While I don't expect our home attendances to maintain their current average, if we could regain our form from the first few games, there's no reason why we shouldn't see a season average of 3-4k higher than last season,

I'm not sure if that increase is as much as the money from last season's cup runs but it must be pretty close.

[Pretty Boy]

But but but tick tock, on the brink of administration etc etc

[barcahibs]

Minus production costs and VAT.

Don't be silly, if I've learnt one thing from the media over the past few years it's that football clubs have no need to pay suppliers or taxes. Pure profit.

I'm just wondering if there's a charity we could be ripping off to give these results an even rosier glow. I hope Hibs are looking into this option.

[660]

Our financially illiterate chums over in the land of no league cups will be gutted.

[Pretty Boy]

Our financially illiterate chums over in the land of no league cups will be gutted.

They seem to find it amusing that we are 'only' 33% fan owned.

What percentage fan owned are they minus the 1 fan everyone knows about? What's the timeline for handing over ownership to FOH? How much interest will have been paid during that time period?

Hibs are in a pretty good place right now and should we do the job properly on the field this season (in the league) we have an excellent platform to go on and build with a sustainable model and a solid platform. It's now all about getting out this league.

[oneone73]

Would legal fees be included in next year's figures?

[GloryGlory]

Would legal fees be included in next year's figures?

They should have been provided for in this year's figures, for the work done up to the period end.

[Keith_M]

They seem to find it amusing that we are 'only' 33% fan owned.

What percentage fan owned are they minus the 1 fan everyone knows about? What's the timeline for handing over ownership to FOH? How much interest will have been paid during that time period?


They really are a bit thick, aren't they.

Hibs Fan Ownership is currently at 33%, theirs is currently at about 1%

They have paid in millions already and have yet to purchase a single share. By the time they do own the club, they'll have a completed stadium (about ten years after Hibs) and the purchase will include the money they contributed towards the shares, part of the cost of the new stand, plus the mega interest charged by the sainted Mrs Budge.

They like go on about Hibs debt but, now that they've finally decided to build a new stand, the remaining debt for that stand will be all theirs (when/if they finally own the club), by which time Hibs will most likely be debt free.

[HibbySpurs]

Wish we'd stop with this "Premiership club playing in the Championship" stuff.

Why? It is exactly what we are.

[lord bunberry]

Why? It is exactly what we are.
True, but hopefully this is the last season we are saying it.

[Highland_Hibee]

Wish we'd stop with this "Premiership club playing in the Championship" stuff.

Yeah no matter what we think of ourselves we are right now a Championship Club. We need to stop consoling ourselves over being too big for this division. I'm sure teams like Leeds Utd and Nottm Forest probably convince themselves of the same things and look how it has gone for them. It's a little cringe to read something like that in a public statement not The Rangers level of cringe but cringe all the same. Let's just make ourselves a Premiership Club Hibs!


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[lucky]

Hibs are a championship club and have premiership costs at the moment. So the comments from RP are extremely valid.

As for fan ownership, we are clearly on our way of achieving our goal. This has been a fantastic effort from our support. As for Hearts, Budge is doing a great job from them and delivering on and of the pitch but she is the owner and is paying for everything with the fans money. They will achieve fan ownership but it's likely to after us.

If HSL got its act together and kept members and future members in the loop more then we could be putting more money in. I also think that the club should open the selling of shares again but this time in smaller amounts. A lot of fans would buy them for presents at Christmas in amounts of around £50.

Things are going well at Hibs but the most important thing is results on the park. Hopefully Lennon and the boys will deliver the promotion that we all crave.

[CallumLaidlaw]

Hibs are a championship club and have premiership costs at the moment. So the comments from RP are extremely valid.

As for fan ownership, we are clearly on our way of achieving our goal. This has been a fantastic effort from our support. As for Hearts, Budge is doing a great job from them and delivering on and of the pitch but she is the owner and is paying for everything with the fans money. They will achieve fan ownership but it's likely to after us.

If HSL got its act together and kept members and future members in the loop more then we could be putting more money in. I also think that the club should open the selling of shares again but this time in smaller amounts. A lot of fans would buy them for presents at Christmas in amounts of around £50.

Things are going well at Hibs but the most important thing is results on the park. Hopefully Lennon and the boys will deliver the promotion that we all crave.

They are saying even if hibs get to the 51% it won't be true ownership as you need 75% to have full control. Thats all well and good but I don't think thats the real point of fan ownership - its to make sure decisions can't be made that is only in a greedy owners interests. And Budge has been making noises recently suggesting that she doesn't think FULL fan ownership is necessarily a good thing. I think she'll look to have a similar model to us where she'll hold 49%.

[hhibs]

Hibs are a championship club and have premiership costs at the moment. So the comments from RP are extremely valid.

As for fan ownership, we are clearly on our way of achieving our goal. This has been a fantastic effort from our support. As for Hearts, Budge is doing a great job from them and delivering on and of the pitch but she is the owner and is paying for everything with the fans money. They will achieve fan ownership but it's likely to after us.

If HSL got its act together and kept members and future members in the loop more then we could be putting more money in. I also think that the club should open the selling of shares again but this time in smaller amounts. A lot of fans would buy them for presents at Christmas in amounts of around £50.

Things are going well at Hibs but the most important thing is results on the park. Hopefully Lennon and the boys will deliver the promotion that we all crave.



Excellent points :top marks

[Mikey]

Love the cover :greengrin

17538

[Iain G]

True, but hopefully this is the last season we are saying it.

You think we might get relegated? :wink: :stirrer:

[Iain G]

They are saying even if hibs get to the 51% it won't be true ownership as you need 75% to have full control. Thats all well and good but I don't think thats the real point of fan ownership - its to make sure decisions can't be made that is only in a greedy owners interests. And Budge has been making noises recently suggesting that she doesn't think FULL fan ownership is necessarily a good thing. I think she'll look to have a similar model to us where she'll hold 49%.

In fairness to them its hard to work stuff out in the decimal system when you have 6 toes on each foot. That is why Yamenomics is different to real world economics as they use a duodecimal base :agree: :wink:

51% is clearly majority fan ownership, hell, 50.000000000000000000000000000000000etc1 % is majority fan ownership! :agree:

[hibby6270]

Do shareholders get a copy of Rod's letter and a copy of the accounts sent to them to read the full story?

[NAE NOOKIE]

Wish we'd stop with this "Premiership club playing in the Championship" stuff.


Yeah no matter what we think of ourselves we are right now a Championship Club. We need to stop consoling ourselves over being too big for this division. I'm sure teams like Leeds Utd and Nottm Forest probably convince themselves of the same things and look how it has gone for them. It's a little cringe to read something like that in a public statement not The Rangers level of cringe but cringe all the same. Let's just make ourselves a Premiership Club Hibs!

Sent from my iPhone using Tapatalk

When Hibs say this they mean that everything the club does is maintained at the level it was in the Premier league, especially players wages .... an absolute requirement if we are going to get out of this league I would say. There is nothing cringeworthy about it, its a statement of fact, running costs for our infrastructure are probably higher than two thirds of the Premiership, never mind the Championship.

In our darkest hours during our headlong rush to get relegated I kept on about Rod Petrie's inability to see the fact that for a club like Hibs success on the park was the only way to financial success and that unless he was prepared to see that and take the risk of spending that extra 100K it took to get in the players that would make a difference we would never bring in the money we needed to. How much more evidence does he need?

As these accounts show for a club like us success on the park makes a huge difference to the balance sheet. We cant budget on the basis of making two cup finals every year though, but the signs are there for all to see that promotion is a huge deal for us this season, our crowds have been incredible and if we can maintain these at over 13,000 for the rest of the season we could possibly be looking at 12 or 13 thousand season ticket holders next season if we go up.

I wonder if the media will now finally recognise the success of Hibs drive for majority fan ownership of the club .... we currently own 31% and that is already over the numbers required to stop some carpetbagging asset stripper selling the stadium or East Mains from under us. Meanwhile over the road the poster boys for fan ownership own nothing and are currently in the process of paying for stuff they will then have to pay for again if they are to own it. If Budge was hit by a bus tomorrow and her heirs decided to flog the Pink Bus Shelter to a developer there would be absolutely nothing they could do about it ...... remind me again which is the most successful model of fan ownership.

Anyway ....... FFS lets get promoted :aok:

[GloryGlory]

Love the cover :greengrin

17538

That's a keeper! :greengrin

[oneone73]

That's a keeper! :greengrin

I'll say it: no, it's a right back.

[Twiglet]

Love the cover :greengrin

17538

When is the agm?

[ACLeith]

Do shareholders get a copy of Rod's letter and a copy of the accounts sent to them to read the full story?

Yes. Postie delivered mine today. Makes good reading, would be even better if I was an accountant and understood it 😀

[WhileTheChief..]

Love the cover :greengrin

17538

Any chance of the contents for us non shareholders to have a look at? :)

Will members of HSL get sent a copy?

[DaveF]

Just opened my first ever set of Hibernian FC accounts and might well pop along to the agm. No bleedin idea what the contents mean though :-)

[emerald green]

These are an excellent set of figures for a club in its third year in the Championship.

Nobody can criticise the Hibs supporters for not backing the club financially. A tremendous effort.

[FranckSuzy]

When is the agm?

Monday 7th Nov at 7pm :aok:

[lucky]

Yes. Postie delivered mine today. Makes good reading, would be even better if I was an accountant and understood it 😀

Made me laugh :thumbsup:

[BSEJVT]

Any chance of the contents for us non shareholders to have a look at? :)

Will members of HSL get sent a copy?

Sorry don't know how to do the necessary to answer your first point.

Wouldn't have thought HSL members would get a copy as they are not shareholders as such and wont appear on the register for the club to send them.

On that note I would encourage anyone who can afford £50 a month for 4 months to buy shares individually when there is next an offer.

Much as HSL is laudable (I subscribe to it as well as buying individual shares), actually owning your own shares ( certificate framed and on wall!), receiving the accounts and being able to attend the AGM is worthwhile.

I was also quite surprised at split between individual fan shareholding and HSL shareholding.

I thought HSL would own more share than they do.

[SouthsideHarp_Bhoy]

Sorry don't know how to do the necessary to answer your first point.

Wouldn't have thought HSL members would get a copy as they are not shareholders as such and wont appear on the register for the club to send them.

On that note I would encourage anyone who can afford £50 a month for 4 months to buy shares individually when there is next an offer.

Much as HSL is laudable (I subscribe to it as well as buying individual shares), actually owning your own shares ( certificate framed and on wall!), receiving the accounts and being able to attend the AGM is worthwhile.

I was also quite surprised at split between individual fan shareholding and HSL shareholding.

I thought HSL would own more share than they do.

Is this likely to happen?

I am with HSL but didnt buy individual shares last time - i would likr to though. I presumr though that there are costs to hibs associated with doing anothet share offer.

Also, what has the cash from share offer been used for?

[BSEJVT]

Is this likely to happen?

I am with HSL but didnt buy individual shares last time - i would likr to though. I presumr though that there are costs to hibs associated with doing anothet share offer.

Also, what has the cash from share offer been used for?

Very likely I would have thought, there is a cost but any cost benefit analysis would show that the cost would be well worth it.

Hibs want like never before supporters to engage with the club and direct share ownership helps bring the club and shareholder closer together.

When the cash is received by the company (either through HSL or direct share purchase) it will simply sit in the cash reserves until it is spent.

Only when it is spent on new players, new managers etc will it be used for expenditure.

AFAIK, it will be impossible (at our level) to determine where the spent cash came from, i.e. whether it was from normal trading income or share purchases

The club have undertaken though to spend the monies raised on the team and at various points on the journey people from the actual footballing arm of the club have commented on how this funding has enabled them to do things that otherwise couldn't have been done.

[SouthsideHarp_Bhoy]

Very likely I would have thought, there is a cost but any cost benefit analysis would show that the cost would be well worth it.

Hibs want like never before supporters to engage with the club and direct share ownership helps bring the club and shareholder closer together.

When the cash is received by the company (either through HSL or direct share purchase) it will simply sit in the cash reserves until it is spent.

Only when it is spent on new players, new managers etc will it be used for expenditure.

AFAIK, it will be impossible (at our level) to determine where the spent cash came from, i.e. whether it was from normal trading income or share purchases

The club have undertaken though to spend the monies raised on the team and at various points on the journey people from the actual footballing arm of the club have commented on how this funding has enabled them to do things that otherwise couldn't have been done.

Cheers for the response, hopefully they do another round to.coincide with our (hopefully) getting promoted

[mjhibby]

The figures are roughly what could be expected given the cup runs minus the hefty bonuses the players would have got. With the brondy game and all the sales from scottish cup merchandise we should along with the increased attendance's ensure that the loss this season will be kept to a minimum. Also means we've lost around £600,00 in our first two seasons being relegated half of what our neighbours lost in one season. Who spends beyond their means?. Figures go to show although we missed out on promotion(probably due to the cup runs) the cup runs were great financially as well of course the ongoing feel good factor and bigger croefs. Hopefully we can now kick on in the league and we can avoid any more unjustified red cards.