Hearts statement

[660]

Just for clarification here, this is the post i quoted:



And to which i replied "a bit like HSL" then.

You can fill your replies full of HSL do this that and the next thing with the money you give them whereas FOH don't but it is completely irrelevant to what i posted.

YOU DO NOT OWN SHARES IN YOUR OWN NAME IN HIBS - no matter how much money you put into HSL.

If you want to put money into HSL then fill your boots but my point still stands.

You're just being pedantic. HSL is owned by fans, HSL own part of Hibs. Tom Farmer doesn't directly own any shares in Hibs either. The point the post you quoted was making was the Hearts support don't have a meaningful share in their club.

There are several mechanisms to buy shares in companies, many of which don't result in you having your name on a list of shareholders for the company. Your point is completely irrelevant.

[lapsedhibee]

From last year's letter that accompanied the annual accounts

“At 30 June 2016 Hibernian supporters owned 31.8% of the Club (up from 18.2% at 31 July 2015). 23.6% was held directly by 2,400 supporter shareholders and 8.2% was held by Hibernian Supporters Limited on behalf of its members. The success of the Share Issue is down to the commitment made by supporters to their Club. The Board has used those funds, as it said it would, to help fund sporting ambition. And that sporting ambition turned into sporting success.

Over 30% and many of the individual shareholders WITH CERTIFICATES IN THEIR OWN NAME :rolleyes: will also have contributed through HSL. Supporters and supporters' organisation acting in concert. Most unfair on the GASL that there's no requirement here for our fans to offer Petrie, Farmer and that 20p for their shares.

[ColinNish]

You're just being pedantic. HSL is owned by fans, HSL own part of Hibs. Tom Farmer doesn't directly own any shares in Hibs either. The point the post you quoted was making was the Hearts support don't have a meaningful share in their club.

There are several mechanisms to buy shares in companies, many of which don't result in you having your name on a list of shareholders for the company. Your point is completely irrelevant.

That's not what you said though.

[ColinNish]

Quit the trolling, it's getting more than tiresome now.

Really? I make a point that you don't own shares in HSL in your own name and that's trolling?

How very strange.

[brog]

Really? I make a point that you don't own shares in HSL in your own name and that's trolling?

How very strange.

There's only one thing strange here. I say this both as an individual shareholder & a contributor to HSL, who do own shares, unlike the Yam contributors.

[marinello59]

Really? I make a point that you don't own shares in HSL in your own name and that's trolling?

How very strange.

Not really. You know exactly what you are doing. Up to you what you do now, I have no more to say.

[Keith_M]

Hibs Fans own a large number of shares in the club, either directly or indirectly (through HSL). The percentage owned by Fans in either manner is increasing all the time.

Hearts fans own exactly zero more shares than when Budge saved them, and it looks like staying that way for a very long time.



Those are facts.

Anything else is just utter "Colin Nish" (excuse the rhyming slang)

[leithsansiro]

Is it Stirling Albion that are owned outright by fans?

[greenginger]

Hibs Fans own a large number of shares in the club, either directly or indirectly (through HSL). The percentage owned by Fans in either manner is increasing all the time.

Hearts fans own exactly zero more shares than when Budge saved them, and it looks like staying that way for a very long time.



Those are facts.

Anything else is just utter "Colin Nish" (excuse the rhyming slang)


They got their certificates for the shares bought in the dying days of the Vlad regime.

However seeing as there are 156,478,960 Yam shares, the muppets new shares won't hold much influence.

[jacomo]

Really? I make a point that you don't own shares in HSL in your own name and that's trolling?

How very strange.


Your post was technically correct but I am really struggling to understand the point you are making.

Both HSL and FOH are vehicles to enable fan ownership on a collective basis. One is delivering on its initial promise, the other owns 0% of Hertz so far.

[HFCdeb]

Dear Ann Budge,

The dictionary definition of "articulate" is thus:

Having or showing the ability to speak fluently and coherently. Ian Cathro is able to do neither. Ever.

Please also note that an ellipsis is usually used to indicate an intentional omission of a word, sentence, or whole section from a text without altering its original meaning.
I have no idea why they were used so generously throughout that (ahem) statement...

[Jack Hackett]

Dear Ann Budge,

The dictionary definition of "articulate" is thus:

Having or showing the ability to speak fluently and coherently. Ian Cathro is able to do neither. Ever.

Please also note that an ellipsis is usually used to indicate an intentional omission of a word, sentence, or whole section from a text without altering its original meaning.
I have no idea why they were used so generously throughout that (ahem) statement...

Ellipses can also be used to indicate a short pause... while queenie thinks up some more twaddle.

[HFCdeb]

Ellipses can also be used to indicate a short pause... while queenie thinks up some more twaddle.

Maybe she was using Siri 🤔

[CropleyWasGod]

Is it Stirling Albion that are owned outright by fans?

Just ca' canny with that, lest you upset folk. :greengrin

Technically, they are owned by a fans' trust........:cb

[Deansy]

Maybe she was using Siri 🤔

Maybe she's just 'using' ......... ?

She's maybe starting to realise exactly what this 'Institution' is, that she saved from extinction and all that it reperesents - coupled with it's 'support' and it's perfectly understandable why she might need 'stuff' to help her get though life ??

[bingo70]

It was the family fun day today and guy I know has put photos on Facebook.

There's a full size cow (like the one we used to have in the reception area in the main stand) with a slogan on the side:-

"The tynecastle cash cow.......feed me cash, notes would be preferred to help us pay for the main stand". I've had to guess at some of the wording as the picture had a couple of kids in front of it but that was the jist of it.

That's an absolute piss take, I've got a beamer for them.

[AT8]

This from kickback suggests that the stand is now paid for :-

Not long back from the Family Fun Day at Tynecastle.

A big 'well done' to all of those involved in organising it, the wee man had a great time as per.

Got his picture take with a few players, met Jock the Jambo again, face painting, bouncy castle, beat the goalie, obstacle course thing, balloon modelling, colouring in and rakes more.

Sun was out, a few legends games and a mosey round the shop. Judging by the amount of people there I think the stands probably paid for now.

Well done to everyone again.

[Billy Whizz]

Did many turn up?

[Michael]

This from kickback suggests that the stand is now paid for :-

Not long back from the Family Fun Day at Tynecastle.

A big 'well done' to all of those involved in organising it, the wee man had a great time as per.

Got his picture take with a few players, met Jock the Jambo again, face painting, bouncy castle, beat the goalie, obstacle course thing, balloon modelling, colouring in and rakes more.

Sun was out, a few legends games and a mosey round the shop. Judging by the amount of people there I think the stands probably paid for now.

Well done to everyone again.

Ha, can we have a Family Fun Day at Easter Road to pay for Leigh Griffiths?

[bingo70]

This from kickback suggests that the stand is now paid for :-

Not long back from the Family Fun Day at Tynecastle.

A big 'well done' to all of those involved in organising it, the wee man had a great time as per.

Got his picture take with a few players, met Jock the Jambo again, face painting, bouncy castle, beat the goalie, obstacle course thing, balloon modelling, colouring in and rakes more.

Sun was out, a few legends games and a mosey round the shop. Judging by the amount of people there I think the stands probably paid for now.

Well done to everyone again.

Multi million pound project being paid for by shots on a bouncy castle and a really big collection tin.

It beggars belief.

[bingo70]

Did many turn up?

From the photos I've seen your talking probably about a couple of hundred, if that.

[Slavers]

This from kickback suggests that the stand is now paid for :-

Not long back from the Family Fun Day at Tynecastle.

A big 'well done' to all of those involved in organising it, the wee man had a great time as per.

Got his picture take with a few players, met Jock the Jambo again, face painting, bouncy castle, beat the goalie, obstacle course thing, balloon modelling, colouring in and rakes more.

Sun was out, a few legends games and a mosey round the shop. Judging by the amount of people there I think the stands probably paid for now.

Well done to everyone again.

How many cakes were sold?

[Col2]

This from kickback suggests that the stand is now paid for :-

Not long back from the Family Fun Day at Tynecastle.

A big 'well done' to all of those involved in organising it, the wee man had a great time as per.

Got his picture take with a few players, met Jock the Jambo again, face painting, bouncy castle, beat the goalie, obstacle course thing, balloon modelling, colouring in and rakes more.

Sun was out, a few legends games and a mosey round the shop. Judging by the amount of people there I think the stands probably paid for now.

Well done to everyone again.

c500 turned up according to one of them. Yes that will be the 7 figure and counting funding gap resolved. 500@ say £30 less costs = c£10k. Or 1/30th of the money expected from the lad who has been ditched by Middlesborough.

[banarc7062]

Wow!! They really are struggling in the money stakes!!

Wonder if they actually get what she's doing??

We want your money, you might not get anything back for your money, but we need your money!

[emoji23][emoji23]


Sent from my iPhone using Tapatalk

Yep, that's my understanding of this plea for cash. GGTTH :flag:

[Carheenlea]

Multi million pound project being paid for by shots on a bouncy castle and a really big collection tin.

It beggars belief.

:hilarious

[Sioux]

The attendance has just gone to 2,000. Yet another sell out!

[Biggie]

It was the family fun day today and guy I know has put photos on Facebook.

There's a full size cow (like the one we used to have in the reception area in the main stand) with a slogan on the side:-

"The tynecastle cash cow.......feed me cash, notes would be preferred to help us pay for the main stand". I've had to guess at some of the wording as the picture had a couple of kids in front of it but that was the jist of it.

That's an absolute piss take, I've got a beamer for them.

They're milking it now......

[Smartie]

The attendance has just gone to 2,000. Yet another sell out!

To be fair to our turdshirted chums, that actually is the biggest crowd of bellends who have turned up to be rinsed silly by their club's owners that Edinburgh has seen this weekend.

I can just hear Scott Wilson hailing that over his system.

[Hibby70]

They're milking it now......

Maybe it's to pay for the Jerseys.

[Ryan69]

They must be desperate.

The opening banner on official site is selling tickets for yesterday's game. :ostrich:

[Just Alf]

Maybe it's to pay for the Jerseys.
I suppose their timing was good, a months ago they'd have been Fresian


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[ACLeith]

I suppose their timing was good, a months ago they'd have been Fresian


Sent from my SM-G925F using Tapatalk
C'mon pull the udder one

[SanFranHibs]

They must be desperate.

The opening banner on official site is selling tickets for yesterday's game. :ostrich:

I am sure it has been asked on this forum but do all these fund the new stand fun days and tactic evenings not beggar the question why are they knocking down the old stand and starting on a new stand without the necessary finance already in place.

Surely they are not starting on this project a million or two short of completing it? Or are they already planning to go begging to the Hearts lodge, aka Edinburgh Council, for help finishing what otherwise would be a danger to the community?

Maybe a dumb question, but do they have the money? I suspect they are just trying to milk every farthing they can from the loyal, famous followers.

[bingo70]

I am sure it has been asked on this forum but do all these fund the new stand fun days and tactic evenings not beggar the question why are they knocking down the old stand and starting on a new stand without the necessary finance already in place.

Surely they are not starting on this project a million or two short of completing it? Or are they already planning to go begging to the Hearts lodge, aka Edinburgh Council, for help finishing what otherwise would be a danger to the community?

Maybe a dumb question, but do they have the money? I suspect they are just trying to milk every farthing they can from the loyal, famous followers.

I suspect (guess) Budge will reluctantly pick up any shortfall and will add it the money she's already owed?

As it stands (pun intended) just now though I don't think they've got the money in place to complete the work.

What I find strange is that there were 2 or 3 previous owners using various consultancies who all said a stand couldn't be built so I don't see what's changed? If you're unlucky enough to drive past it at any point you'll see it's a very unimpressive structure so I suspect they're going for the *****st cheapest option available that won't be fit for purpose in the not too distant future. The previous owners probably wanted to build something a bit better.

[Is It On....]

They're milking it now......

Crumbs of comfort..

[Deansy]

Ach by the time the new-season's about to kick-off, no doubt the yams will've raised enough money to build their stand 10 times over AND be putting in cash-bids for Hendo, Stokes, Commons, Allan and Cummings - we really have no idea of how truly 'Big' they are ............................

[HibbiesandtheBaddies]

I suspect (guess) Budge will reluctantly pick up any shortfall and will add it the money she's already owed?

As it stands (pun intended) just now though I don't think they've got the money in place to complete the work.

What I find strange is that there were 2 or 3 previous owners using various consultancies who all said a stand couldn't be built so I don't see what's changed? If you're unlucky enough to drive past it at any point you'll see it's a very unimpressive structure so I suspect they're going for the *****st cheapest option available that won't be fit for purpose in the not too distant future. The previous owners probably wanted to build something a bit better.

That's what they did last time with the other 3 stands.

[Bostonhibby]

Family yam went with his Hibs supporting kids in tow. He said in the couple of hours he was there the crowd numbers were "low hundreds" and except for the chance to see a few ex players there wasn't much that you wouldn't expect at a big school fete. Oh dear.

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[Peevemor]

I am sure it has been asked on this forum but do all these fund the new stand fun days and tactic evenings not beggar the question why are they knocking down the old stand and starting on a new stand without the necessary finance already in place.

Surely they are not starting on this project a million or two short of completing it? Or are they already planning to go begging to the Hearts lodge, aka Edinburgh Council, for help finishing what otherwise would be a danger to the community?

Maybe a dumb question, but do they have the money? I suspect they are just trying to milk every farthing they can from the loyal, famous followers.
They have the money to build the stand and open it to the public. They're trying to raise the money for the interior fit-out - function suites, etc.

[SanFranHibs]

They have the money to build the stand and open it to the public. They're trying to raise the money for the interior fit-out - function suites, etc.

Ah, I see. Fit out the Tactical Operations Room. :greengrin

[Famous Fiver]

If they attracted 2000 and each of them (kids included) chipped in £1500 then £3 mill raised in an afternoon.

Or

500 of them spending a tenner each tops (including kids) is £5,000, leaving them £2,995,000 still to find.

Some Business Plan.............

TICK TOCK

[Captain Trips]

They also had quite a successful round of pinning the tail on the donkey:
http://www.londonhearts.com/images/ianc/images/Dave%20McPherson.jpg

[Col2]

I suspect (guess) Budge will reluctantly pick up any shortfall and will add it the money she's already owed?

As it stands (pun intended) just now though I don't think they've got the money in place to complete the work.

What I find strange is that there were 2 or 3 previous owners using various consultancies who all said a stand couldn't be built so I don't see what's changed? If you're unlucky enough to drive past it at any point you'll see it's a very unimpressive structure so I suspect they're going for the *****st cheapest option available that won't be fit for purpose in the not too distant future. The previous owners probably wanted to build something a bit better.

On Off the Ball a couple of weeks ago they had Daryl Broadfoot (SFA press officer and just left) and Michael Stewart on. They were reminiscing about Tynecastle and the so called legendary atmosphere. It was said that while both Easter Road and Pittodrue were used for Scotland game then surely this new redevelopment would put Tynecastle on the list as options. Darryl sheepishly said yes but not for competitive games and the pitch would remain too small for UEFA regulations.

So they are spending £12m + to increase capacity by 14% and it's still not UEFA compliant. Brilliant. And the costs are overrunning. Get the flour and face paints loaded up...

[Fife-Hibee]

Multi million pound project being paid for by shots on a bouncy castle and a really big collection tin.

It beggars belief.

Haha" ma sides!! 😂😂😂

[Captain Trips]

Hearts reveal latest weapon in funding arsenal:


http://c8.alamy.com/comp/EPGN9Y/ludwigsburg-germany-18th-may-2015-the-worlds-largest-piggy-bank-is-EPGN9Y.jpg

[Sioux]

Am I missing something:

"Well done to everyone at Heart of Midlothian for making this a very enjoyable day,it was great to see everyone enjoying themselves. Days like this make me proud to say I support Hearts."

"Fantastic turn out. Why our club will only get stronger"

Did they win a big match like 5 nowt, or qualify for Europe, or even beat Hibs? No - they were selling pies, face painting the kids, and paying a couple of quid to jump about on a bouncy thing.

They're so effin proud ffs. I find it almost unbelievable how so many adults can get dragged in to thinking the Hertz have done something for the fans.

But the best bit is this:

"I was there today doing a spot of balloon modelling and face painting but my favourite part was selling my Rudi Skacel and Jamie Walker player hedgehogs (i made a whole load of Headts craft)."

A Rudi Skacel f.....g hedgehog!! Just stop it now!

[Viva_Palmeiras]

They also had quite a successful round of pinning the tail on the donkey:
http://www.londonhearts.com/images/ianc/images/Dave%20McPherson.jpg

quite impressive slopey shoulders quite apt for a Jambo.

[Viva_Palmeiras]

Am I missing something:

"Well done to everyone at Heart of Midlothian for making this a very enjoyable day,it was great to see everyone enjoying themselves. Days like this make me proud to say I support Hearts."

"Fantastic turn out. Why our club will only get stronger"

Did they win a big match like 5 nowt, or qualify for Europe, or even beat Hibs? No - they were selling pies, face painting the kids, and paying a couple of quid to jump about on a bouncy thing.

They're so effin proud ffs. I find it almost unbelievable how so many adults can get dragged in to thinking the Hertz have done something for the fans.

But the best bit is this:

"I was there today doing a spot of balloon modelling and face painting but my favourite part was selling my Rudi Skacel and Jamie Walker player hedgehogs (i made a whole load of Headts craft)."

A Rudi Skacel f.....g hedgehog!! Just stop it now!

Balloon modelling - was Medals posing for the cameras again?

[Fife-Hibee]

Am I missing something:

"Well done to everyone at Heart of Midlothian for making this a very enjoyable day,it was great to see everyone enjoying themselves. Days like this make me proud to say I support Hearts."

"Fantastic turn out. Why our club will only get stronger"

Did they win a big match like 5 nowt, or qualify for Europe, or even beat Hibs? No - they were selling pies, face painting the kids, and paying a couple of quid to jump about on a bouncy thing.

They're so effin proud ffs. I find it almost unbelievable how so many adults can get dragged in to thinking the Hertz have done something for the fans.

But the best bit is this:

"I was there today doing a spot of balloon modelling and face painting but my favourite part was selling my Rudi Skacel and Jamie Walker player hedgehogs (i made a whole load of Headts craft)."

A Rudi Skacel f.....g hedgehog!! Just stop it now!

Haha' would imagine there was loads of balloons there 😂😂😂

[Slavers]

We only need a 3rd tier on the West stand and the corner filled in between Famous Five and the East Stand to complete Easter Road IMO. Not much work at all and going by the jambos efforts this could all be paid for by selling cupcakes! If we need to furnish the upper west and add a bar to the corner of the East, then easy we could hold lots of raffles and hold throw the coin at the bottle games, winner gets the bottle Hibs get the cash!

It works for the Jambos!

[tamig]

On Off the Ball a couple of weeks ago they had Daryl Broadfoot (SFA press officer and just left) and Michael Stewart on. They were reminiscing about Tynecastle and the so called legendary atmosphere. It was said that while both Easter Road and Pittodrue were used for Scotland game then surely this new redevelopment would put Tynecastle on the list as options. Darryl sheepishly said yes but not for competitive games and the pitch would remain too small for UEFA regulations.

So they are spending £12m + to increase capacity by 14% and it's still not UEFA compliant. Brilliant. And the costs are overrunning. Get the flour and face paints loaded up...
I said as soon as they made the announcement on the plans and costs that I was really surprised Budge sanctioned that type of spend when the pitch was still non-compliant. They are stuck with it now though until they rebuild the whole stadium - which will probably never happen in most of our lifetimes. Crazy decision and something I suspect will hit them hard for years to come. I'm not complaining though 😁

[Sir David Gray]

Am I missing something:

"Well done to everyone at Heart of Midlothian for making this a very enjoyable day,it was great to see everyone enjoying themselves. Days like this make me proud to say I support Hearts."

"Fantastic turn out. Why our club will only get stronger"

Did they win a big match like 5 nowt, or qualify for Europe, or even beat Hibs? No - they were selling pies, face painting the kids, and paying a couple of quid to jump about on a bouncy thing.

They're so effin proud ffs. I find it almost unbelievable how so many adults can get dragged in to thinking the Hertz have done something for the fans.

But the best bit is this:

"I was there today doing a spot of balloon modelling and face painting but my favourite part was selling my Rudi Skacel and Jamie Walker player hedgehogs (i made a whole load of Headts craft)."

A Rudi Skacel f.....g hedgehog!! Just stop it now!

That has to be a joke! :greengrin

[HibbiesandtheBaddies]

They also had quite a successful round of pinning the tail on the donkey:
http://www.londonhearts.com/images/ianc/images/Dave%20McPherson.jpg

Donkey Dave. 5h1te golfer.

[Sioux]

That has to be a joke! :greengrin

You would think so. But it aint:greengrin

[Captain Trips]

There was also a tombola, first prize was season ticket being taken back off them.

[snooky]

Am I missing something:

"Well done to everyone at Heart of Midlothian for making this a very enjoyable day,it was great to see everyone enjoying themselves. Days like this make me proud to say I support Hearts."

"Fantastic turn out. Why our club will only get stronger"

Did they win a big match like 5 nowt, or qualify for Europe, or even beat Hibs? No - they were selling pies, face painting the kids, and paying a couple of quid to jump about on a bouncy thing.

They're so effin proud ffs. I find it almost unbelievable how so many adults can get dragged in to thinking the Hertz have done something for the fans.

But the best bit is this:

"I was there today doing a spot of balloon modelling and face painting but my favourite part was selling my Rudi Skacel and Jamie Walker player hedgehogs (i made a whole load of Headts craft)."

A Rudi Skacel f.....g hedgehog!! Just stop it now!

Beware! All you're likely to get is a little prick.

[Deansy]

Am I missing something:

"Well done to everyone at Heart of Midlothian for making this a very enjoyable day,it was great to see everyone enjoying themselves. Days like this make me proud to say I support Hearts."

"Fantastic turn out. Why our club will only get stronger"

Did they win a big match like 5 nowt, or qualify for Europe, or even beat Hibs? No - they were selling pies, face painting the kids, and paying a couple of quid to jump about on a bouncy thing.

They're so effin proud ffs. I find it almost unbelievable how so many adults can get dragged in to thinking the Hertz have done something for the fans.

But the best bit is this:

"I was there today doing a spot of balloon modelling and face painting but my favourite part was selling my Rudi Skacel and Jamie Walker player hedgehogs (i made a whole load of Headts craft)."

A Rudi Skacel f.....g hedgehog!! Just stop it now!

Balloon-modelling .............. 'Attention - any struggling-artists, Hearts have an infinite source for you to hone your talent'

[The Green Goblin]

Was anyone else reminded of Phoenix Nights?

[Captain Trips]

Was anyone else reminded of Phoenix Nights?

Sammy the snake :)

[Captain Trips]

I think the face painting was to hide identitys and red faces.

[Sir David Gray]

You would think so. But it aint:greengrin

Brilliant. :greengrin

This is almost as good as the days of Rima and her Golden Stick and Pyjama Man.

[Captain Trips]

Cathro turned up and as you can all see refused to get his face painted:


http://mamiskincare.net/wp-content/uploads/2015/10/fresh-makeup-with-step-by-step-clown-cakeup-with-clown-face-foam-prostethic.jpg

[Just Alf]

I said as soon as they made the announcement on the plans and costs that I was really surprised Budge sanctioned that type of spend when the pitch was still non-compliant. They are stuck with it now though until they rebuild the whole stadium - which will probably never happen in most of our lifetimes. Crazy decision and something I suspect will hit them hard for years to come. I'm not complaining though 😁
Totally agree, they've had dispensation in recent years for historical reasons but now they've made a major a significant "upgrade" that dispensation is gone

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[greenginger]

They have the money to build the stand and open it to the public. They're trying to raise the money for the interior fit-out - function suites, etc.


Do they have the money for this though ?

I thought the bulk of the funding , 50%, was to be provided by Foundation of Hearts. It will take a few years for the direct debits to amass the £ 6 million or so.

I think the contractors will be expecting to be paid by monthly account.

I wonder what the financial surprises were that Mrs budge mentioned the other day .

[greenlex]

Was anyone else reminded of Phoenix Nights?

Not till now.😂😂😂

[matty_f]

Am I missing something:

"Well done to everyone at Heart of Midlothian for making this a very enjoyable day,it was great to see everyone enjoying themselves. Days like this make me proud to say I support Hearts."

"Fantastic turn out. Why our club will only get stronger"

Did they win a big match like 5 nowt, or qualify for Europe, or even beat Hibs? No - they were selling pies, face painting the kids, and paying a couple of quid to jump about on a bouncy thing.

They're so effin proud ffs. I find it almost unbelievable how so many adults can get dragged in to thinking the Hertz have done something for the fans.

But the best bit is this:

"I was there today doing a spot of balloon modelling and face painting but my favourite part was selling my Rudi Skacel and Jamie Walker player hedgehogs (i made a whole load of Headts craft)."

A Rudi Skacel f.....g hedgehog!! Just stop it now!
Can you imagine the size of the nose on a Skacel hedgehog?! It'd look like a prickly anteater.

[Peevemor]

Do they have the money for this though ?

I thought the bulk of the funding , 50%, was to be provided by Foundation of Hearts. It will take a few years for the direct debits to amass the £ 6 million or so.

I think the contractors will be expecting to be paid by monthly account.

I wonder what the financial surprises were that Mrs budge mentioned the other day .
http://www.edinburghnews.scotsman.com/sport/football/hearts/budge-pledges-300k-to-new-stand-and-defers-hearts-repayment-1-4123949

[houstonhibbee]

What if they get away draws? Do they get their £100 back? 😂
No they get a replay at home:greengrin

[GreenLake]

Budge, the owner, obtained a large amount of cash from FOH while not paying any interest on it. She is swanning about enjoying ownership and all the prestige and hospitality that comes with that while also having a large dose of martyr cult worship. Reality is turned upside down and colored in shades of maroon delusion. She gratefully deferred loan paybacks and waved interest payments? FOH should have negotiated her to pay interest for their donations. Maroon mysteries continue.

[Peevemor]

Budge, the owner, obtained a large amount of cash from FOH while not paying any interest on it.

Budge hasn't touched the donation money. It's either sitting in either FOH's or HMFC's bank account - gaining interest (apart from what's already been spent on the stand).



She is swanning about enjoying ownership and all the prestige and hospitality that comes with that while also having a large dose of martyr cult worship.

She's the one that shelled out to save the club.


Reality is turned upside down and colored in shades of maroon delusion. She gratefully deferred loan paybacks and waved interest payments? FOH should have negotiated her to pay interest for their donations. Maroon mysteries continue.

:confused:

[Hibby Bairn]

Budge, the owner, obtained a large amount of cash from FOH while not paying any interest on it. She is swanning about enjoying ownership and all the prestige and hospitality that comes with that while also having a large dose of martyr cult worship. Reality is turned upside down and colored in shades of maroon delusion. She gratefully deferred loan paybacks and waved interest payments? FOH should have negotiated her to pay interest for their donations. Maroon mysteries continue.

I thought it was the other way around?

[Marco G]

http://www.edinburghnews.scotsman.com/sport/football/hearts/budge-pledges-300k-to-new-stand-and-defers-hearts-repayment-1-4123949
But part of this funding supposes they can accrue a 3 million surplus like they did before and that FOH continues at current level of contributions. If ST sales dip and DDs dry up that won't happen. So they don't actually have the money to pay for the stand?

Sent from my SM-T713 using Tapatalk

[Peevemor]

But part of this funding supposes they can accrue a 3 million surplus like they did before and that FOH continues at current level of contributions. If ST sales dip and DDs dry up that won't happen. So they don't actually have the money to pay for the stand?

Sent from my SM-T713 using Tapatalk

Budge will have a guarantee in place, otherwise they wouldn't have been able to sign the building contracts.

[lord bunberry]

Budge will have a guarantee in place, otherwise they wouldn't have been able to sign the building contracts.
I think there's no doubt they'll have the money. It more a question of how much needs to be taken from the playing budget to make up any shortfall. I think that's what's worrying the Budge and is why we are seeing such desperation to raise some money.

[Peevemor]

I think there's no doubt they'll have the money. It more a question of how much needs to be taken from the playing budget to make up any shortfall. I think that's what's worrying the Budge and is why we are seeing such desperation to raise some money.

Not just the playing budget but I suspect Budge's own purse. If she stated publicly that she was willing to cover the shortfall, then the supporters would be far less forthcoming with their dosh.

[lord bunberry]

Not just the playing budget but I suspect Budge's own purse. If she stated publicly that she was willing to cover the shortfall, then the supporters would be far less forthcoming with their dosh.
That will be even longer before they get the keys to the pbs then.

[Marco G]

Budge will have a guarantee in place, otherwise they wouldn't have been able to sign the building contracts.
So do you think it will be guaranteed against her assets or Hearts assets? Still sounds to me that the pips will need to be squeezed to get it over the line, hence her concerns.

Sent from my SM-T713 using Tapatalk

[Bostonhibby]

I think there's no doubt they'll have the money. It more a question of how much needs to be taken from the playing budget to make up any shortfall. I think that's what's worrying the Budge and is why we are seeing such desperation to raise some money.
This is the challenge for them. There will be a guarantee but how much it will cost her is down to the very difficult variables of a decline in DD monkeys as pressure on their finances grow with the huge %age rises in cost of getting into the wongadome, and the impact of a poor football offering matched with the maroon balloons wanting her to sign world cup stars to solve the problem.

I think the solution is to run up another debt mountain and owe it to themselves.

Sent from my SM-J320FN using Tapatalk

[Marco G]

I think there's no doubt they'll have the money. It more a question of how much needs to be taken from the playing budget to make up any shortfall. I think that's what's worrying the Budge and is why we are seeing such desperation to raise some money.
I presume you mean they will have the money by the time the bills are due to be paid? I am not so sure about that. Certainly agree that they are going to have to pare things to the bone in other budget areas.

Sent from my SM-T713 using Tapatalk

[lapsedhibee]

DD monkeys

How true.

[Peevemor]

So do you think it will be guaranteed against her assets or Hearts assets? Still sounds to me that the pips will need to be squeezed to get it over the line, hence her concerns.

Sent from my SM-T713 using Tapatalk

I'd imagine it'll be a guarantee from outwith the club - either Budge personally or a company set up by her.

[Peevemor]

That will be even longer before they get the keys to the pbs then.

:agree:

[greenginger]

http://www.edinburghnews.scotsman.com/sport/football/hearts/budge-pledges-300k-to-new-stand-and-defers-hearts-repayment-1-4123949


Article written by AllisBarry@ EEN :greengrin

I don't see an extra £ 6 million cash in their 2016 accounts, but I'm a sceptic not a believer.

[Not In The Know]

I think there's no doubt they'll have the money. It more a question of how much needs to be taken from the playing budget to make up any shortfall. I think that's what's worrying the Budge and is why we are seeing such desperation to raise some money.


This is the bit that annoys me. ffs every other club has had to develop their stadium to the detriment of the playing budget. But just 2/3 years after administration they expect to build the stand and have one of the largest budgets in the league. Will they ever live within their means?

[Peevemor]

This is the bit that annoys me. ffs every other club has had to develop their stadium to the detriment of the playing budget. But just 2/3 years after administration they expect to build the stand and have one of the largest budgets in the league. Will they ever live within their means?

If the extra cash is coming from supporter donations & the club's owner, they can do what they want.

When Hibs built East Mains and the West & East stands, the playing budget wasn't really affected and stayed proportional to our 'working' turnover.

[vuefrom1875]

they really are a shameless begging bowl of a mess.

what goes round goes round...karma!

[Marco G]

If the extra cash is coming from supporter donations & the club's owner, they can do what they want.

When Hibs built East Mains and the West & East stands, the playing budget wasn't really affected and stayed proportional to our 'working' turnover.
See what you are saying, but imho they have gone ahead with a big project hoping that the supporters will continue to not only dig deep but dig even deeper. The question in my mind is for some, are they able to, and for others do they still want to?

Sent from my SM-T713 using Tapatalk

[hibsbollah]

Sammy the snake :)

:faf: sammy the snake :faf: Footage of Hearts FC family fun day below...


https://www.youtube.com/watch?v=almkFPN3SVg

[Peevemor]

See what you are saying, but imho they have gone ahead with a big project hoping that the supporters will continue to not only dig deep but dig even deeper. The question in my mind is for some, are they able to, and for others do they still want to?

Sent from my SM-T713 using Tapatalk

Exactly - but that's exclusively their problem this time around.

[dalkeith stu]

If the extra cash is coming from supporter donations & the club's owner, they can do what they want.

When Hibs built East Mains and the West & East stands, the playing budget wasn't really affected and stayed proportional to our 'working' turnover.
Didn't the sale of Brown pay for East mains and Fletcher for the East??

[Peevemor]

Didn't the sale of Brown pay for East mains and Fletcher for the East??

More or less, but instead it could have been splashed on better (or at least more expensive) players - as Hearts have always done in the past. This is what's come back to bite their bum now.

[Geo_1875]

I wonder if they ever attract newcomers to Edinburgh who fancy watching a game of football?

"I see there's football played in Gorgie. Wonder how much a ticket costs to go along?"

" Well that'll be £500 for season ticket. Want to sit there for a cup game? That'll be another £100 plus the cost of your ticket. Want to be a real supporter and help make sure we don't go bust again? Another £51 per month by direct debit. We're knocking down the old eyesore of a stand. Want to buy some bricks? Fancy buying cakes and bouncing around on something that isn't your sister? Just empty your wallet into this bucket."

"**** that. Hibs can have my £22."

[Alan62]

As a business plan, I find the whole thing absolutely incredible. Bear in mind that Evening News article is from a year ago but it's as ridiculous now as it was then. So they reckon they need £12 million to fund the stand redevelopment. A quarter of the money came from reserves built up from fan donations. The next quarter came from un-named (and presumably rich) fan donations and a little bit of 'commercial' interest - whatever that is. The rest of it was to come from, yes, you guessed, fan donations.

All is Barry's article also talked about Anne Budge's personal donation of £300,000. Closer scrutiny reveals that's not a donation to the £12m at all, it's interest forgiveness on the money she's already lent them. I realise that's all part of the classic 'owing it to themselves' jiggery pokery that they adore but it isn't money they can actually spend.

Assuming they've continued with the direct debits over the past year at the rate of £125K a month and that that is the only source of available funds, then they're something like £4.5 million short of the £12m they need to complete the project. Without a fresh source of capital, it seems unlikely that they'll get the job done to any kind of satisfactory standard by September as planned. After all, they're just going back to the same people all the time asking for even more money while the thing that binds those people to the club is in sharp decline.

So, to sum up, happy days!

[Mikey]

Fancy ...... bouncing around on something that isn't your sister?

:hilarious

[MB62]

Budge also recently said that they had included European qualification into their annual budget, so that's one lot of income now hit on the heid.
Include the £300,000 that they were banking on for selling one of their players to an EPL side, which wasn't taken up, and they have lost a lot of potential/budgeted for income in the past week.

[Jim Herriot]

I realise that's all part of the classic 'owing it to themselves' jiggery pokery that they adore but it isn't money they can actually spend.


Nice spoonerism.

[gogsy23]

They will get £400k development fee for nicholson and patterson. They will lose money as budgeted for 4th and euro footy as you say. If the stadium build runs over they will need to 'hire' murrayfield. That wont be cheap or budgeted for either. Shame....



Budge also recently said that they had included European qualification into their annual budget, so that's one lot of income now hit on the heid.
Include the £300,000 that they were banking on for selling one of their players to an EPL side, which wasn't taken up, and they have lost a lot of potential/budgeted for income in the past week.

[NYHibby]

All is Barry's article also talked about Anne Budge's personal donation of £300,000. Closer scrutiny reveals that's not a donation to the £12m at all, it's interest forgiveness on the money she's already lent them. I realise that's all part of the classic 'owing it to themselves' jiggery pokery that they adore but it isn't money they can actually spend.


Not to defend Budge, but that is a little harsh. It is an additional £300,000 of cash that they can spend that they otherwise wouldn't have had. What difference does it make morally if she received a £300,000 interest payment and turned around and then donated the same amount compared to forgoing an interest payment of the same amount (ignoring any tax differences)?

[Captain Trips]

"Breaking News"

Hearts funday left in chaos when clown hired is seen after removing makeup


http://newsimg.bbc.co.uk/media/images/41636000/jpg/_41636628_rixsacked220.jpg

[Golden Bear]

I'm sure I just heard an advert on Radio Forth which described Hawrts new stadium as the premier sporting arena on the East Coast! :rolleyes: (it was an advert for season tickets)

Surely I must have heard it wrong.

:jamboak:

[Hibs Class]

Nice spoonerism.


:faf:

[NAE NOOKIE]

Budge also recently said that they had included European qualification into their annual budget, so that's one lot of income now hit on the heid.
Include the £300,000 that they were banking on for selling one of their players to an EPL side, which wasn't taken up, and they have lost a lot of potential/budgeted for income in the past week.

Any club that projects future earnings on a possibility rather than a cast iron certainty is asking for trouble ...... It would be like Hibs at the start of the 15/16 season setting a budget based on making two cup finals ...... I cant believe any club, even the Yams, would be that stupid.


I'm sure I just heard an advert on Radio Forth which described Hawrts new stadium as the premier sporting arena on the East Coast! :rolleyes: (it was an advert for season tickets)

Surely I must have heard it wrong.

:jamboak:

If you like seats so narrow you have to be built like Benny Brazil to comfortably fit in them and leg room suitable only for Ronnie Corbett or Warwick Davis then yes. Of course that's if you don't freeze to death in the open ended concourses queuing for your pie first or break your leg trying to negotiate the slippy stairways.

Not to mention the danger to your mental health being surrounded by lashings of gloomy depressing maroon paint.

Of course they could be talking about the legendary Tynecastle atmosphere which is famous throughout the world .... you know, like the Loch Ness monster .... my money is on proof that Nessie exists being discovered first :greengrin

New stand or not, that dump isn't even Edinburgh's premier sporting arena behind Easter Road or Murrayfield ..... never mind the east coast :faf:

[Alan62]

Not to defend Budge, but that is a little harsh. It is an additional £300,000 of cash that they can spend that they otherwise wouldn't have had. What difference does it make morally if she received a £300,000 interest payment and turned around and then donated the same amount compared to forgoing an interest payment of the same amount (ignoring any tax differences)?

It's £300K from the bake sale that they no longer have to give to her, I'll give you that. They don't actually have that £300K though. If you have nothing and I tell you that you don't have to pay me the tenner that you owe me, you don't suddenly have a tenner to spend in the pub, do you?

[MB62]

Any club that projects future earnings on a possibility rather than a cast iron certainty is asking for trouble ...... It would be like Hibs at the start of the 15/16 season setting a budget based on making two cup finals ...... I cant believe any club, even the Yams, would be that stupid.

New stand or not, that dump isn't even Edinburgh's premier sporting arena behind Easter Road or Murrayfield ..... never mind the east coast :faf:

It was Ann Budge herself who stated that in a T.V. interview, so YES, THEY ARE THAT STUPID :greengrin

[Peevemor]

It's £300K from the bake sale that they no longer have to give to her, I'll give you that. They don't actually have that £300K though. If you have nothing and I tell you that you don't have to pay me the tenner that you owe me, you don't suddenly have a tenner to spend in the pub, do you?
If my bank gave me an interest holiday on my mortgage for a couple of years I'd be ecstatic. It's £300k that they can move from one budget to another - definitely not just a paper exercise.

[Hibs1969]

:faf: sammy the snake :faf: Footage of Hearts FC family fun day below...


https://www.youtube.com/watch?v=almkFPN3SVg
I've seen the future and it's Garlic Bread 🤣

[hibsbollah]

I've seen the future and it's Garlic Bread 🤣

Its a twenty foot cock n balls man!

[Alan62]

If my bank gave me an interest holiday on my mortgage for a couple of years I'd be ecstatic. It's £300k that they can move from one budget to another - definitely not just a paper exercise.

I'm not saying it's just a paper exercise but try this little Yamanomics test:

Mrs Budge tells you you have to raise £12 million from the faithful to pay for the stand.

She makes her 'personal contribution' forgiving £300,000 of debt interest.

How much do you still have to raise?

[NYHibby]

I'm not saying it's just a paper exercise but try this little Yamanomics test:

Mrs Budge tells you you have to raise £12 million from the faithful to pay for the stand.

She makes her 'personal contribution' forgiving £300,000 of debt interest.

How much do you still have to raise?

£300,000 less than you otherwise would have to raise.

[CropleyWasGod]

I'm not saying it's just a paper exercise but try this little Yamanomics test:

Mrs Budge tells you you have to raise £12 million from the faithful to pay for the stand.

She makes her 'personal contribution' forgiving £300,000 of debt interest.

How much do you still have to raise?

Prior to the "contribution".... £12,300,000.

After it... £12m.

[AT8]

Classic. I found this very amusing.


"Breaking News"

Hearts funday left in chaos when clown hired is seen after removing makeup


http://newsimg.bbc.co.uk/media/images/41636000/jpg/_41636628_rixsacked220.jpg

[MB62]

They will get £400k development fee for nicholson and patterson. They will lose money as budgeted for 4th and euro footy as you say. If the stadium build runs over they will need to 'hire' murrayfield. That wont be cheap or budgeted for either. Shame....

Given that they budgeted for European qualification, I wouldn't be surprised if they also budgeted for £2m for Patterson and another £1.5m for Nicholson. :greengrin

[gogsy23]

That would be hilarious


Given that they budgeted for European qualification, I wouldn't be surprised if they also budgeted for £2m for Patterson and another £1.5m for Nicholson. :greengrin

[lapsedhibee]

If my bank gave me an interest holiday on my mortgage for a couple of years I'd be ecstatic. It's £300k that they can move from one budget to another - definitely not just a paper exercise.

You wouldn't, on hearing the news, be able to go out and blow the whole amount you'd 'save', though. You could go out and blow an equivalent amount which you'd already saved - but the yams haven't done saving.

[lapsedhibee]

Nice spoonerism.
Very good. :greengrin

[Peevemor]

You wouldn't, on hearing the news, be able to go out and blow the whole amount you'd 'save', though. You could go out and blow an equivalent amount which you'd already saved - but the yams haven't done saving.

I'd have a few hundred quid a month more to spend on whatever I want. Idem for HMFC.

[lapsedhibee]

I'd have a few hundred quid a month more to spend on whatever I want. Idem for HMFC.
Shirley you've only got extra money to spend if other circumstances remain the same for the duration - you keep your job, or the yams' DD monkeys carry on as generously as before. Otherwise, it's just possible, not actual, extra money. But all power to the yams spending possible rather than actual money decorating their truss - tick tock eh!

[Peevemor]

Shirley you've only got extra money to spend if other circumstances remain the same for the duration - you keep your job, or the yams' DD monkeys carry on as generously as before. Otherwise, it's just possible, not actual, extra money. But all power to the yams spending possible rather than actual money decorating their truss - tick tock eh!

I see what you're saying, but it's still £300k that they were due to pay Budge but no longer have to.

[Not In The Know]

Given that they budgeted for European qualification, I wouldn't be surprised if they also budgeted for £2m for Patterson and another £1.5m for Nicholson. :greengrin

If they actually budget for Euro qualification that sums the self entitled arrogance of that bunch up perfectly.

[Alan62]

The best thing about their current predicament is that pretty much the same people have to pay for everything.

So, it they want to spend on the team, or fit out the stand, pay for the hire of the training centre, or any other running costs, it all has to come from the same relatively small group of people. Those people have to find ever increasing amounts of money and there's a real risk that they'll be getting less in return.

One thing that is quite smart on their part is that they've managed to wash so much cash through the club in the form of donations, avoiding VAT as a consequence. Is there a point at which the donations could be deemed to confer a benefit and as a consequence attract VAT?

[lapsedhibee]

I see what you're saying, but it's still £300k that they were due to pay Budge but no longer have to.

I think Alan62 summed it up succinctly: If you have nothing and I tell you that you don't have to pay me the tenner that you owe me, you don't suddenly have a tenner to spend in the pub, do you? I think the yams are about to spend the tenner. And then owe it to themselves. :music: Happy days are here again :music:

[Ozyhibby]

I don't think budge is ripping them off or giving them a bad deal in any way at all. What does seem strange is that this stand seems to be costing £12m? That appears to be a premium price?


Sent from my iPhone using Tapatalk

[CropleyWasGod]

I think Alan62 summed it up succinctly: If you have nothing and I tell you that you don't have to pay me the tenner that you owe me, you don't suddenly have a tenner to spend in the pub, do you? I think the yams are about to spend the tenner. And then owe it to themselves. :music: Happy days are here again :music:

Sorry, that's not the case.

They were due to raise £12.3m.

Now they have to raise £12m.

That has to be better, or at least less sore.

[Geo_1875]

I see what you're saying, but it's still £300k that they were due to pay Budge but no longer have to.

But they didn't have to pay it this week this month or this year. It would be the final £300k they had to pay her before she hands over ownership of the shares. That might be 10 years down the line. They don't have £300k in their pockets.

Same with your mortgage scenario. If your bank tells you you won't have to pay the last 3 months interest on your mortgage your no better off now.

[Onceinawhile]

I don't think budge is ripping them off or giving them a bad deal in any way at all. What does seem strange is that this stand seems to be costing £12m? That appears to be a premium price?


Sent from my iPhone using Tapatalk

I think it's because it will, eventually, have the hospitality suites etc... in it. Which makes it far more expensive.

I'd also guess that the risk factor of building it around the old main stand will have cost some money.

[Peevemor]

I don't think budge is ripping them off or giving them a bad deal in any way at all. What does seem strange is that this stand seems to be costing £12m? That appears to be a premium price?


Sent from my iPhone using Tapatalk

If you look at the main stand at ER, all the offices, suites, etc. are built under the seating. At Tynecastle they'll have a building attached to the front of the stand.

This will give them more accommodation but adds significantly yo the cost.

18604

[Peevemor]

But they didn't have to pay it this week this month or this year. It would be the final £300k they had to pay her before she hands over ownership of the shares. That might be 10 years down the line. They don't have £300k in their pockets.

Same with your mortgage scenario. If your bank tells you you won't have to pay the last 3 months interest on your mortgage your no better off now.

No, Budge isn't taking the interest for 2 (IIRC) years. She's not looking for it later, she's simply writing it off - effectively gifting them £300k in real money.

[Fuzzywuzzy]

Haud the bus, I thought they were debt free? Is that not what our neighbours revel in telling us?

[SteveHFC]

According to radio ad it will be the east of scotlands premiere stadium when it opens in september

[greenginger]

According to radio ad it will be the east of scotlands premiere stadium when it opens in september

Shame about the pitch being too small to host premium matches.

[Kato]

According to radio ad it will be the east of scotlands premiere stadium when it opens in september

Experts at #fakenews

[Alan62]

Sorry, that's not the case.

They were due to raise £12.3m.

Now they have to raise £12m.

That has to be better, or at least less sore.

They were due to raise £12m for the stand. Now they have to raise £12m for the stand. They were going to have to raise £300K to pay the interest on Ann Budge's loan. Now they don't. They still have to chip in nearly all the cash to pay for the ongoing running of the club. Not having to pay the interest on the loan is a bonus for them without a doubt. They'll still have to repay the loan at some point though unless Mrs B writes that off as well.

[ancient hibee]

Jambo friend surprised to find he's paying £100 more than me for his season ticket which is not in as good a part of the ground.He's also an old codger so that's a big percentage difference.He thinks that many will buy seasons to cover the non category A games and will either watch them on TV which most will be on or if the season is going particularly well(which he doesn't expect) buy a walk up.Says the system for getting a season in the new stand is as clear as mud.

[CropleyWasGod]

They were due to raise £12m for the stand. Now they have to raise £12m for the stand. They were going to have to raise £300K to pay the interest on Ann Budge's loan. Now they don't. They still have to chip in nearly all the cash to pay for the ongoing running of the club. Not having to pay the interest on the loan is a bonus for them without a doubt. They'll still have to repay the loan at some point though unless Mrs B writes that off as well.

So they have to raise less. Agreed.:wink:

[Alan62]

So they have to raise less. Agreed.:wink:

That was always agreed. It's just a big jumble of words, numbers, rattling buckets and home baking and the bottom line is our maroon chums will have to keep digging deeper and deeper until there's nowhere left to dig. :agree:

[Velma Dinkley]

Shame about the pitch being too small to host premium matches.

Shame about the other three crumbling stands.

[lapsedhibee]

Sorry, that's not the case.

They were due to raise £12.3m.

Now they have to raise £12m.

That has to be better, or at least less sore.

Even if it does get sore when more DD monkeys desert, couldn't they further 'reduce the effective cost of the new stand' by simply bumping Heriot Watt, the council, Lady Haig etc? :dunno:

[CropleyWasGod]

Even if it does get sore when more DD monkeys desert, couldn't they further 'reduce the effective cost of the new stand' by simply bumping Heriot Watt, the council, Lady Haig etc? :dunno:

It's a long shot, but it might just work................



:cb

[Bostonhibby]

It's a long shot, but it might just work................



:cb
There's risks though, a couple of years on since the last administration that was meant to see them debt free and they're already £12m minimum in debt whilst pursuing yet another costly share ownership dream and still owning no shares.

Not that great on the pitch either and probably no money to improve it even though season ticket prices are going through the roof (assuming they get a roof on the one new stand they're building).

Sent from my SM-J320FN using Tapatalk

[Jack Hackett]

Hang on! I'm losing sight of the woods for all these bloody trees in the way.

Wasn't Plan A:- Budge buys the club and FoH pay back the loan... with interest, over about 3 years I think it was? I'm guessing that this would have been done on a monthly basis, though I stand to be corrected

Then Plan B pops up, and the stand is to be built (this is another guess, but I suspect the council have finally said enough is enough, get rid of the old stand or we will refuse a certificate at the next asking). There's a huge shortfall in available funds, so the decision is made to divert funds from FoH away from the debt and into the stand. When it's paid for, FoH money will go back to clearing the debt. At this point the interest will resume... Yes?

The only difference I see is that they get their shiny new stand now, instead of waiting until the debt is paid and they own the club.

Seems to me it would be a bit of a cheek to charge interest on the debt, while she uses the money originally intended to service the debt, to pay for the stand. At the end of the day, they are still going to have to pay interest on the remaining capital sum.

I again stand to be corrected on any or all points as I am just a dumb-ass older person, and now have the bus pass to prove it :greengrin

[Alan62]

There's risks though, a couple of years on since the last administration that was meant to see them debt free and they're already £12m minimum in debt whilst pursuing yet another costly share ownership dream and still owning no shares.

Not that great on the pitch either and probably no money to improve it even though season ticket prices are going through the roof (assuming they get a roof on the one new stand they're building).

Sent from my SM-J320FN using Tapatalk

The only debt they have is the original capital put in by Ann Budge - £2.5m, I think.

The rest isn't debt it's donations (unless that £2.5m from mysterious benefactors has strings attached).

The problem they have is that they are building without having the funds in place. That could easily result in debt.

[Bostonhibby]

The only debt they have is the original capital put in by Ann Budge - £2.5m, I think.

The rest isn't debt it's donations (unless that £2.5m from mysterious benefactors has strings attached).

The problem they have is that they are building without having the funds in place. That could easily result in debt.
Indeed. Let me put it another way. They're dashing headlong spending someone else's money in pursuit of not very much, again[emoji6]

Sent from my SM-J320FN using Tapatalk

[Peevemor]

There's risks though, a couple of years on since the last administration that was meant to see them debt free and they're already £12m minimum in debt whilst pursuing yet another costly share ownership dream and still owning no shares.

Not that great on the pitch either and probably no money to improve it even though season ticket prices are going through the roof (assuming they get a roof on the one new stand they're building).

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All the risk is Budge's. She appears to be doing her best to keep the player budget at a decent but sensible level while using the FOH dosh to finance the new stand, topped up from her own pocket + anything else they can squeeze out of the merricks.

In the short term they may well end up with a lot of undeveloped space inside the stand, but that can be done in dribs and drabs.

The end result is that Budge will be waiting forever to get her dosh back, with their fan ownership being delayed by a good few years.

[Bostonhibby]

All the risk is Budge's. She appears to be doing her best to keep the player budget at a decent but sensible level while using the FOH dosh to finance the new stand, topped up from her own pocket + anything else they can squeeze out of the merricks.

In the short term they may well end up with a lot of undeveloped space inside the stand, but that can be done in dribs and drabs.

The end result is that Budge will be waiting forever to get her dosh back, with their fan ownership being delayed by a good few years.
Agreed. But as there's already a bit of diversion from the original plan and of the funds and therefore the share issue, whatever next needs to be funded?

The stands not being funded by their earnings so I'm always going to be comfortable saying they're living beyond their means again

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[lord bunberry]

The only debt they have is the original capital put in by Ann Budge - £2.5m, I think.

The rest isn't debt it's donations (unless that £2.5m from mysterious benefactors has strings attached).

The problem they have is that they are building without having the funds in place. That could easily result in debt.

I very much doubt the £2.5m is just a donation. You could've bought the whole club for less than that a couple of years ago. I suspect it will need to be paid back.

[GreenLake]

The only debt they have is the original capital put in by Ann Budge - £2.5m, I think.

The rest isn't debt it's donations (unless that £2.5m from mysterious benefactors has strings attached).

The problem they have is that they are building without having the funds in place. That could easily result in debt.

Or becoming a part of this list. (https://blazepress.com/2014/06/abandoned-football-stadiums-around-world/)

[Velma Dinkley]

Have Hearts fans given up on the idea of owning their club?

[greenginger]

The only debt they have is the original capital put in by Ann Budge - £2.5m, I think.

The rest isn't debt it's donations (unless that £2.5m from mysterious benefactors has strings attached).

The problem they have is that they are building without having the funds in place. That could easily result in debt.


They do show other debts in their accounts which is not unusual, but compared to our figures they seem rather large.

Ours/ Yams

Trade Creditors 291,121/ 925,000

Taxation and Social Security 311,377/ 633,000

Other creditors 10,269/ 558,000


Of course it must be remembered ,we are the wee team. :greengrin

[Skol]

Wee team. Wee debt.

[HoboHarry]

Slightly off topic but why aren't the Yam supporters kicking up a fuss about Sevco being allowed to compete in Europe?

[Bostonhibby]

Have Hearts fans given up on the idea of owning their club?
What Mrs Budge the shareholder decides to do next with the DD money will help clarify that. She's persuaded them to defer having even one share already.

What's next for the direct debit monkeys funds?

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[greenginger]

Slightly off topic but why aren't the Yam supporters kicking up a fuss about Sevco being allowed to compete in Europe?


I guess its because Rangers don't pass the financial fair play rules.

And they do , Shhh don't mention Vlad . :greengrin

[Eyrie]

Budge can afford to write off a couple of years interest on her loan because the money from Save Hearts In Trouble that was meant to be paying her off has been diverted into the new stand. That means that she will have her loan for several years beyond the original repayment date and will be able to collect additional interest at 6.2% during those extra years.

She'll be quids in.

[Peevemor]

Budge can afford to write off a couple of years interest on her loan because the money from Save Hearts In Trouble that was meant to be paying her off has been diverted into the new stand. That means that she will have her loan for several years beyond the original repayment date and will be able to collect additional interest at 6.2% during those extra years.

She'll be quids in.
You're forgetting that the cash that she has tied up in Hearts could be working for her elsewhere. She's already baled them out and is looking to sort them out for the future - why should she lose out financially?

[Eyrie]

You're forgetting that the cash that she has tied up in Hearts could be working for her elsewhere. She's already baled them out and is looking to sort them out for the future - why should she lose out financially?

I'm not suggesting that she should miss out.

In fact, I'd say it's the opposite because where else will she get 6.2% interest and for such a long term?

[Criswell]

So their FOH donations are being used to fund most of the cost of the new stand; then after that is done, they are to be used to pay off Budgie's loan (plus interest!) And they all signed up for this ????

[greenginger]

So their FOH donations are being used to fund most of the cost of the new stand; then after that is done, they are to be used to pay off Budgie's loan (plus interest!) And they all signed up for this ????



https://www.foundationofhearts.org/news/survey-results/

98.86% of the pledgers voted for it.

[The Falcon]

In the interview at the weekend Ann Budge said that Hearts have "built up £3m reserves" over the piece and that about £6m was in place, cant remember from whom.

Could the reason their figures are "rather large" and their cash reserves high be as simple as they have not paid their bills?

Here is an interview from just over a year ago and the situation doesnt seem to have changed much. The date at the top is misleading, the article was published on Friday 13th May 2016.

http://www.developmentfinancetoday.co.uk/article-desc-4642_hearts-fc-scores-50-of-development-funding

I am surprised the DD's are still all going but if they have a poor start to the next campaign then things could change.



They do show other debts in their accounts which is not unusual, but compared to our figures they seem rather large.

Ours/ Yams

Trade Creditors 291,121/ 925,000

Taxation and Social Security 311,377/ 633,000

Other creditors 10,269/ 558,000


Of course it must be remembered ,we are the wee team. :greengrin

[greenginger]

Looks like the Yams have had their seats .

http://www.heartsfc.co.uk/news/5937

Two bits of plastic is all they will get.

I also notice on the Club season ticket site they have dropped all references to the numbers of season tickets in the new stand. (5112) and the EEN still banging on about the 7000 seater stand.

Not to worry, I bookmarked the Club web page with their figures on it. :greengrin

http://www.heartsfc.co.uk/news/5885

[jacomo]

"" !! random ,

Could Hertz please find someone who can right properly? Their "statements" give me, headaches!

Did they really not realise how the seats were attached to the main stand until 3 days ago? Amateurs.

[iwasthere1972]

Looks like the Yams have had their seats .

http://www.heartsfc.co.uk/news/5937

Two bits of plastic is all they will get.

I also notice on the Club season ticket site they have dropped all references to the numbers of season tickets in the new stand. (5112) and the EEN still banging on about the 7000 seater stand.

Not to worry, I bookmarked the Club web page with their figures on it. :greengrin

http://www.heartsfc.co.uk/news/5885

What supporters have perhaps not realised is that the seats are not “individual seats.” They come in rows of 8/10/12 etc and are all joined together.

Firmly putting the blame on the windae lickers. :greengrin

[NthCarolinaHibs]

Never seen such a mish mash of different seating arrangements/plans in ma puff...

[Jones28]

£470 for a season ticket?! That's mental money.

[Bostonhibby]

Looks like the Yams have had their seats .

http://www.heartsfc.co.uk/news/5937

Two bits of plastic is all they will get.

I also notice on the Club season ticket site they have dropped all references to the numbers of season tickets in the new stand. (5112) and the EEN still banging on about the 7000 seater stand.

Not to worry, I bookmarked the Club web page with their figures on it. :greengrin

http://www.heartsfc.co.uk/news/5885

So after all that fuss, they get just the two plastic bits? Jeez

I'm definitely going to register or get the family yam to do it as they will be ideal plant pot stands.

[Treadstone]

Budge likes the blazer culture in Scottish football, she ain't letting go anytime soon.

[Jack Hackett]

Looks like the Yams have had their seats .

http://www.heartsfc.co.uk/news/5937

Two bits of plastic is all they will get.

I also notice on the Club season ticket site they have dropped all references to the numbers of season tickets in the new stand. (5112) and the EEN still banging on about the 7000 seater stand.

Not to worry, I bookmarked the Club web page with their figures on it. :greengrin

http://www.heartsfc.co.uk/news/5885

That's tragic... Seriously! What a bunch of tramps.

I wonder how long before they appear on ebay.

:lolyam:

[O'Rourke3]

Looks like the Yams have had their seats .

http://www.heartsfc.co.uk/news/5937

Two bits of plastic is all they will get.

I also notice on the Club season ticket site they have dropped all references to the numbers of season tickets in the new stand. (5112) and the EEN still banging on about the 7000 seater stand.

Not to worry, I bookmarked the Club web page with their figures on it. :greengrin

http://www.heartsfc.co.uk/news/5885

All for giving them the correct kick in the stanes but will there not be hostility seats as well? Unlikely to be 1800 bracket but it will add to the capacity. Have they paid for the demolished buildings and land yet?

[greenginger]

All for giving them the correct kick in the stanes but will there not be hostility seats as well? Unlikely to be 1800 bracket but it will add to the capacity. Have they paid for the demolished buildings and land yet?


Their plan shows one section not being used for season tickets. This section will also have to accommodate the directors box, press box and about 4 rows out of the front section for dug outs.

So how may posh seats , who knows , I'd guess about 500 max.

Capacity maybe 18,400. £ 12 million for an extra 1000 seats. That's not what the pledgers were told when they voted to fund the Budge Folly so no doubt we will continue to hear all about the best football stadium in the east of Scotland with a near 21,000 capacity.

They have not paid the council for the land yet. Seems they got a deal allowing them to build on the land and pay for it when the new nursery is occupied.

[ian omand]

[QUOTE=greenginger;5044607]Their plan shows one section not being used for season tickets. This section will also have to accommodate the directors box, press box and about 4 rows out of the front section for dug outs.

So how may posh seats , who knows , I'd guess about 500 max.

Capacity maybe 18,400. £ 12 million for an extra 1000 seats. That's not what the pledgers were told when they voted to fund the Budge Folly so no doubt we will continue to hear all about the best football stadium in the east of Scotland with a near 21,000 capacity.

They have not paid the council for the land yet. Seems they got a deal allowing them to build on the land and pay for it when the new nursery is occupied.[/QUOT

Perhaps our club should ask the council to defer our rates payments until the nursery is occupied too.
After all the council is obviously so awash with money they would be only to happy to oblige.

[Danderhall Hibs]

,

Could Hertz please find someone who can right properly? .

Isn't it ironic, don't you think?

:greengrin

[beensaidbefore]

Slightly off topic but why aren't the Yam supporters kicking up a fuss about Sevco being allowed to compete in Europe?

Why is every club in Scotland not saying something about it.

[GreenLake]

Wee team. Wee debt.

Their stadium is Tynie but their debt is getting bigger and bigger. Yet again.

[Kato]

Capacity maybe 18,400. £ 12 million for an extra 1000 seats.



There's something twee, unambitious and Ryman's Paintball League, Division 2 about those numbers.

[HoboHarry]

Why is every club in Scotland not saying something about it.
Got me beat. I don't begin to understand it unless they are all waiting for UEFA to be the bad guys (in sevco eyes at least).....

[Jim44]

Why is every club in Scotland not saying something about it.


Got me beat. I don't begin to understand it unless they are all waiting for UEFA to be the bad guys (in sevco eyes at least).....

Nobody's going to be 'the bad guys' as nothing will be done. UEFA will know about their shortcomings, but I recollect, in an article about this some time back, it was explained, with reasons given, that it was a 'rule' which is rarely invoked and that in Sevco's case it was highly unlikely.

[CentreLine]

Isn't it ironic, don't you think?

:greengrin

Absolutely priceless. I think you should write another. 🤣

[Springbank]

Their plan shows one section not being used for season tickets. This section will also have to accommodate the directors box, press box and about 4 rows out of the front section for dug outs.

So how may posh seats , who knows , I'd guess about 500 max.

Capacity maybe 18,400. £ 12 million for an extra 1000 seats. That's not what the pledgers were told when they voted to fund the Budge Folly so no doubt we will continue to hear all about the best football stadium in the east of Scotland with a near 21,000 capacity.

They have not paid the council for the land yet. Seems they got a deal allowing them to build on the land and pay for it when the new nursery is occupied.

About the last sentence, this grinds my gears.

The vendor should always ask for payment either when the land is transferred or when the nursery building reaches completion of construction, as those are factual (and you get money sooner) and they leave no doubt or wriggle room for the buyer to play it shifty.

By arranging payment upon occupation of the building (and not upon completion of the building) the payment date can be strung out for ages...building complete but somehow not yet occupied etc

In these days of cash strapped public sector, this deal should have been payment on transfer of title, pre-construction. Then hearts would have had to pay before now. Instead, the council have made hundreds redundant or agreed voluntary early release with hundreds of staff due to cash shortages.

It's a disgrace

[Kato]

It's a disgrace

It is. Yet its just normal in this town. Complain and you'll be branded "a bitter Hibby" rather than as someone pissed off at their council tax money constantly winging its way to them.

[Quarters]

All for giving them the correct kick in the stanes but will there not be hostility seats as well? Unlikely to be 1800 bracket but it will add to the capacity. Have they paid for the demolished buildings and land yet?

I have no doubts there will be.