The generic Hearts thread

[brog]

Hospitality and their bar facilities ?

Those are minor compared to the revenue from match ticket sales. I was being generous in estimating £250k for the 4 games.

[Ozyhibby]

https://www.dailyrecord.co.uk/sport/football/football-news/hearts-stars-asked-take-50-21715680.amp?__twitter_impression=true

There may be trouble ahead. Players asked to half their wages.


Sent from my iPhone using Tapatalk

[Hibeesmad]

Hearts are dying again.

[Since452]

Oh dear

[Bostonhibby]

Hearts are dying again.Can't be, they've always had so much more money than most, are miles ahead of us and as we know are brilliantly run by a business genius.

Sent from my SM-A750FN using Tapatalk

[JohnM1875]

I'd absolutely love to see them relegated. Wouldn't be so keen to see them completely fold. Unfortunately some of my family support them! I also do love the derby!

[GreenCastle]

https://www.dailyrecord.co.uk/sport/football/football-news/hearts-stars-asked-take-50-21715680.amp?__twitter_impression=true

There may be trouble ahead. Players asked to half their wages.


Sent from my iPhone using Tapatalk

It’s the way big clubs are run..

I would be asking serious questions if I was a yams fan.

Over paying..players and staff
Over spending main stand which is still not finished..

Shambles of a club and seems they will never learn:

[Ozyhibby]

I'd absolutely love to see them relegated. Wouldn't be so keen to see them completely fold. Unfortunately some of my family support them! I also do love the derby!

They would get a CVA again. Fun watching them get seriously weakened for a few years though.


Sent from my iPhone using Tapatalk

[Heisenberg]

https://www.dailyrecord.co.uk/sport/football/football-news/hearts-stars-asked-take-50-21715680.amp?__twitter_impression=true

There may be trouble ahead. Players asked to half their wages.


Sent from my iPhone using Tapatalk

Overspent massively on a bottom of the league squad and now can’t afford to pay them. Shame.

[Since452]

At least they could play in the administration cup again. Won it at the first time of asking.

[Dashing Bob S]

This is devastating news. Not just for Hearts but the ramifications for the game in general here are staggering. We should certainly resist the urge to gloat and...

...I can’t do this. Ha ha ha ha ha ha ha ha ha ha ha ha etc

[Ozyhibby]

You knew watching Budge the other day that they were in big trouble.


Sent from my iPhone using Tapatalk

[Ozyhibby]

https://www.thescottishsun.co.uk/sport/football/5401512/hearts-players-staff-50-pay-cut-meltdown/amp/?utm_medium=Social&utm_source=Twitter&__twitter_impression=true


Sent from my iPhone using Tapatalk

[Ozyhibby]

Any player who doesn’t take it will be offered a pay off?


Sent from my iPhone using Tapatalk

[grunt]

Any player who doesn’t take it will be offered a pay off?Chance for Stendel to get away?

[Onion]

https://www.dailyrecord.co.uk/sport/football/football-news/hearts-stars-asked-take-50-21715680.amp?__twitter_impression=true

There may be trouble ahead. Players asked to half their wages.


Sent from my iPhone using Tapatalk


Poor little rich boys, many having to make do with £2000 a week for doing nothing. How will they cope ?

[Since452]

Personally couldn't give a **** about the derby. They riggled out of it last time but haven't learned their lessons. Hope they fold for good this time.

[Stuart93]

I’ll be honest, don’t take much joy out of any of this.

Things really are a lot more important just now

[Ozyhibby]

Poor little rich boys, many having to make do with £2000 a week for doing nothing. How will they cope ?

They won’t take the deals. No footballer would. It’s a short career. Most of them have no loyalty to Hearts. Boyce has only been there about 8 weeks.


Sent from my iPhone using Tapatalk

[Ozyhibby]

I’ll be honest, don’t take much joy out of any of this.

Things really are a lot more important just now

This isn’t about corona virus. This is about them over spending yet again. I’ll be enjoying it while at the same time getting in with the rest of my life.


Sent from my iPhone using Tapatalk

[SaulGoodman]

Relegation would be funny.

Seeing them go bust I don’t think would be funny, there’s families that go watch them every week and have supported them together for years. Just like us. It would be a shame for those families to lose something like that.

[Since452]

If only they hadn't gone 12 million over budget on a new stand while paying players 7/8k per week

[grunt]

Statement o'clock

https://www.heartsfc.co.uk/news/article/club-statement-1-2-3-4-5-6 (https://www.heartsfc.co.uk/news/article/club-statement-1-2-3-4-5-6)

[Ozyhibby]

Relegation would be funny.

Seeing them go bust I don’t think would be funny, there’s families that go watch them every week and have supported them together for years. Just like us. It would be a shame for those families to lose something like that.

They won’t, they’ll get a CVA.


Sent from my iPhone using Tapatalk

[bingo70]

Poor little rich boys, many having to make do with £2000 a week for doing nothing. How will they cope ?

It’s all relative.

How much are their mortgages? What about their cars? For the ones out of contract in the summer how much do they need to put aside for the period they aren’t earning?

[The Count]

Are they at it exaggerating their financial position to influence the authorities not to relagate them.

[Keith_M]

I see links have already been added to other articles, but here's Banderson's version (https://www.edinburghnews.scotsman.com/sport/football/hearts/hearts-ask-players-and-staff-take-50-cent-wage-cut-due-coronavirus-2493718)



Asked to take a cut due to Coronavirus?

Aye, right!



(https://www.edinburghnews.scotsman.com/sport/football/hearts/hearts-ask-players-and-staff-take-50-cent-wage-cut-due-coronavirus-2493718)

[Mixu1875]

While people’s first reaction might be to laugh at this, you’re very naive if you think us, and other clubs, won’t be following suit very soon.

[Onion]

Any player who doesn’t take it will be offered a pay off?


Sent from my iPhone using Tapatalk

Apparently.

IMO this looks like an attempt to get a lot of their overpaid, underperforming, wage burners off their payroll, on the cheap. I would urge those players to take legal advice/action and stand up for their contractual rights. Hearts have previous with this shameless tactic. Just like their precarious league position, they put themselves in this position so need to accept the consequence instead of looking for folk to bail them out.

[EdinMike]

I see links have already been added to other articles, but here's Banderson's version (https://www.edinburghnews.scotsman.com/sport/football/hearts/hearts-ask-players-and-staff-take-50-cent-wage-cut-due-coronavirus-2493718)


Asked to take a cut due to Coronavirus?

Aye, right!



(https://www.edinburghnews.scotsman.com/sport/football/hearts/hearts-ask-players-and-staff-take-50-cent-wage-cut-due-coronavirus-2493718)

This is what irks me, and what they will continue to flog to the masses. And not because of maybe... Bad management ?!

[matty_f]

She says that football is unlikely to be played again until July/August - given that Uefa want the league settled by June I think this is clear that they know they're being relegated.

[Since452]

Sooner the season is declared over and prize money paid out and insurance activated the better

[G B Young]

Statement o'clock

https://www.heartsfc.co.uk/news/article/club-statement-1-2-3-4-5-6 (https://www.heartsfc.co.uk/news/article/club-statement-1-2-3-4-5-6)

The impression you get from that is that she already knows they're getting relegated and is cutting their cloth for the Championship.

[SouthMoroccoStu]

Sadly remember the last time they weren’t paying wages
The team still played “well” and seemed committed to the club

[The 90+2]

Sooner the season is declared over and prize money paid out and insurance activated the better

They are ****ed. Bottom of the league and ****ed for cash, no income from their super new stand, no mystery benefactors topping them up and Budge not putting in her own cash.

[Bishop Hibee]

Ach I know we’re experiencing the biggest crisis since WWII but it did give me a good laugh reading they’re toiling. Keeps moral up what!

[Peevemor]

Sadly remember the last time they weren’t paying wages
The team still played “well” and seemed committed to the clubExcept this time around they haven't been playing well to start off with and they don't have any games in any case.

[Kato]

Their players have shown 50% effort so seems fair....and the cost of the supa-dupa, mega, envy of scottish football, unfinished new rust-bucket stand has risen by 50% twice, so it'll all add up in the end, or not.

Sent from my SM-A405FN using Tapatalk

[HFC93]

They're ahead of the curve here according to Kickback.

[SMAXXA]

Assume that’s the benefactor closed the wallet and said no more cash

[G B Young]

Clearly the impact of coronavirus could not have been foreseen, but you have to question her rationale in allowing such a massive overspend (what is it again, about £12 million over budget?) on the new stand when set against the possibility of a season like the one they've had when relegation is very much on the cards with or without the pandemic. If I was being asked by my bosses to take a 50% pay cut or face the sack I might want to call into question the excess millions sanctioned for what is by and large a vanity project.

[The 90+2]

Ach I know we’re experiencing the biggest crisis since WWII but it did give me a good laugh reading they’re toiling. Keeps moral up what!

See if they didn’t act like tossers and threaten legal action I would have a bit more empathy to them.......

Nah who am I trying to kid on 😁😁

[cocteautwin]

COVID-19 is the straw that broke the camel’s back. Or should it be the 20 ton fat bloke that broke the camel’s back? Myself and a few others here have being pointing out for a couple of years now how HMFC have been overspending.

They managed to fire through some £24m of extraneous cash before the virus was even heard of. This isn’t about COVID-19 it’s about sheer incompetence, bad management and delusional levels of over-spending.

HMFC are heading for another insolvency event and I have only one thing to say:

TOLD YA!

[Jim44]

Why doesn’t Budge and her rich benefactor cronies just find a legal way of financing their joke of a club through this temporary crisis?

[sean04]

Wonder if the likes of hickey will use this to get a free transfer

[PatHead]

Wonder if berra will take a wage cut.

[lord bunberry]

I say this one more time
GENTLEMEN START YOUR OVENS

[cocteautwin]

Are they at it exaggerating their financial position to influence the authorities not to relagate them.

Nah. They are in serious trouble. No exaggerating.

[lord bunberry]

Where’s self sufficient Southern when you need him?

[cocteautwin]

Why doesn’t Budge and her rich benefactor cronies just find a legal way of financing their joke of a club through this temporary crisis?

The only way out of this is for Budge or Benefactor or supporters to stump up some additional huge sum of cash out their own pockets. No bank or sane institution is going to lend them a penny.

Second Insolvency event is incoming.

[chrisski33]

May laugh at their financial troubles but the covid19 is going to effect all the clubs sooner or later. Tbh not bothered about Hearts just hope we arebt financially hurt too much

[Since452]

May laugh at their financial troubles but the covid19 is going to effect all the clubs sooner or later. Tbh not bothered about Hearts just hope we arebt financially hurt too much

We've reportedly got around 5 million in the bank so we're ok. Disappointing if we have to use a chunk of it but I'm not worried.

[Bostonhibby]

I say this one more time
GENTLEMEN START YOUR OVENSNae flour on the supermarket shelves.

Sent from my SM-A750FN using Tapatalk

[Ozyhibby]

That mean Hickey is available on a free?


Sent from my iPhone using Tapatalk

[Bostonhibby]

Why doesn’t Budge and her rich benefactor cronies just find a legal way of financing their joke of a club through this temporary crisis?Ah yes, Mrs doctor Budge and her alter ego Mr Benny Factor.

A budget Dr Jekyll and Mr Hyde.



Sent from my SM-A750FN using Tapatalk

[matty_f]

We've reportedly got around 5 million in the bank so we're ok. Disappointing if we have to use a chunk of it but I'm not worried.

I wouldn't trust that figure as being accurate.

It may be the case that we're not far behind them in asking folk to take a cut, but you'd have to hope that Ron Gordon is well placed to support the club in the meantime without it getting to that.

He said at the AGM that he was a line of credit if we needed it, so I would expect Hibs to borrow from him before cutting wages.

[Peevemor]

We've reportedly got around 5 million in the bank so we're ok. Disappointing if we have to use a chunk of it but I'm not worried.I doubt it. We had that at the start of the season (ST money, etc) but it will have been well eaten into. We'll probably be running on empty soon too.

It's no different from a normal person feeling minted at the beginning of the month having just been paid - you're a lot less cocky 3 weeks later.

Hearts however started the season with far less cash in the bank than us but higher monthly outgoings. That's why they're so deep in the keech.

[DarlingtonHibee]

We've reportedly got around 5 million in the bank so we're ok. Disappointing if we have to use a chunk of it but I'm not worried.

Think that was at 30 June last year, we will have spent some of that on running the club.

[calumhibee1]

Tinpot club.

[Hibs90]

Tick tock.

[Sir David Gray]

This has really cheered me up after I was seriously starting to struggle.

Hopefully their players tell them to get raffled.

[Peevemor]

Think that was at 30 June last year, we will have spent some of that on running the club.Most of it I would think.

[lord bunberry]

Nae flour on the supermarket shelves.

Sent from my SM-A750FN using Tapatalk
It’s cool mate, it’s been hoarded by our pink chums in the event of another insolvency event.

[WoreTheGreen]

Do you see massive clubs like st m Hamilton Falkirk bleating on yet

[cocteautwin]

I doubt it. We had that at the start of the season (ST money, etc) but it will have been well eaten into. We'll probably be running on empty soon too.

The difference is that Hearts started the season with far less cash in the bank than us but higher monthly outgoings. That's why they're so deep in the keech.

Yes indeed. Our balance at end of June 2019 included the season ticket money to be spread out over the year so current cash balances will be low but at least we have a wealthy owner to help see us through until new season ticket money becomes available. We are not going to be immune from financial difficulties.

HMFC on the other hand had irresponsibly already spent in advance most of their season ticket money and most likely needed an injection of around £4m from the benefactor before the season even started.

They are stuffed.

[The 90+2]

That mean Hickey is available on a free?


Sent from my iPhone using Tapatalk

Medical in Barcelona once the country is allowed open again ive heard.

[JohnM1875]

This has really cheered me up after I was seriously starting to struggle.

Hopefully their players tell them to get raffled.

Why would they though? It's 50% pay cut or you can terminate your contract. Which would mean you get paid nothing right? Unless I have that totally wrong.

Can't see any clubs on the look out to sign new players just now with everyone watching their cash flow!

[lord bunberry]

Just had a read of kickback and apparently they’re just ahead of the curve on this. :faf::faf::faf::faf::faf::faf::faf::faf::faf:
tick tock ya ****in tramps.

[Wheat Hound]

I wouldn't trust that figure as being accurate.

It may be the case that we're not far behind them in asking folk to take a cut, but you'd have to hope that Ron Gordon is well placed to support the club in the meantime without it getting to that.

He said at the AGM that he was a line of credit if we needed it, so I would expect Hibs to borrow from him before cutting wages.

Ah, finally we get to experience being in debt to ourselves...😎

[Bostonhibby]

It’s cool mate, it’s been hoarded by our pink chums in the event of another insolvency event.[emoji23]
That's probably where all the Mr Kipling Battenburgs and fondant fancies went as well then.

They like a good administration down gorgie way, maybe they'll get it right this time.


Sent from my SM-A750FN using Tapatalk

[The 90+2]

I wouldn't trust that figure as being accurate.

It may be the case that we're not far behind them in asking folk to take a cut, but you'd have to hope that Ron Gordon is well placed to support the club in the meantime without it getting to that.

He said at the AGM that he was a line of credit if we needed it, so I would expect Hibs to borrow from him before cutting wages.

Don’t all big clubs beg their support for money then ask their players to halve their wages though? I’m confused.

[Ozyhibby]

Commercial income at all clubs will be devastated next season. One of the benefits of us performing poorly in this area for so long now is we won’t really miss it.


Sent from my iPhone using Tapatalk

[Skol]

The government announced a package yesterday designed to avoid the need for employers to take these steps

[Bostonhibby]

Just had a read of kickback and apparently they’re just ahead of the curve on this. :faf::faf::faf::faf::faf::faf::faf::faf::faf:
tick tock ya ****in tramps.I remember when they declared themselves self sufficient and Banderson put Pesos instead of pounds into his calculator by mistake and said they had millions just before they went pop.

Sent from my SM-A750FN using Tapatalk

[Antifa Hibs]

Commercial income at all clubs will be devastated next season. One of the benefits of us performing poorly in this area for so long now is we won’t really miss it.


Sent from my iPhone using Tapatalk

Guess another advantage we have is our staffing levels are alot lower than Hearts. Think they're hospitality and catering staff are on Hertz's books wereas ours are contractors? (Could be wrong).

What's even more worrying for Hearts is they've used their last lifeline which is the fans. They're in this position with the fans donating millions to them via FoH every season. If admin MKII came round would they donate more cash when they are already currently donating vast sums to be sat bottom of the league, look an at overpriced stand and be ran rather ****; all this 5-6 years after the last time.

[murray26]

Points deduction..?

[GreenCastle]

Another story for the documentary!

All we need now is relegation is confirmed.

Is she calling bluff about no football till July / August or is she using this to try make the situation sound more serious.

Either way..unless I’m wrong it’s the 1st club in the whole U.K. to come out with such a statement since the virus.

I will be amazed if Levein is getting half his wage - still probably a fortune. Some players surely won’t be happy and can’t see this helping morale especially recent new signings.

[Gmack7]

it was inevitable after all the home games they've had cancelled 😳

[Borderhibbie76]

I say this one more time
GENTLEMEN START YOUR OVENS

Public events are banned for the foreseeable mate so over face painting and a bake sale cant save them this time

[Billy Whizz]

The government announced a package yesterday designed to avoid the need for employers to take these steps

They offered a loan, but they would have to pay it back

[K-Zazu]

That’s what happens when u pay Liam Boyce 6k a week

[Tobias Funke]

That’s what happens when u pay Liam Boyce 6k a week

Exactly what I’ve been saying. I think they know they are heading down and this is the beginning of the purge.

[Craig_in_Prague]

Well run businesses and let's say football clubs too, get through the bad times.

Other than Celtic, I can only assume Hibs are comfortable.

For the smelly tarts, well, ...fun times ahead. This might keep quarantine very interesting 🍿

[Borderhibbie76]

And to think what might happen when the FOH DDs start to dry up... which they inevitably will over the coming months as people struggle financially...oh dear

[Aldo]

It will involve most clubs taking some sort of hit but you would think that they would have a contingency just in case of emergency.

Budge and co have not lived within their means yet again with benefactors pumping money in left right and centre.?

It’s unfortunate but this world wide crisis is showing them up yet again and living well outwith their means.

To use the coronavirus as an excuse for their complete mismanagement is poor imho.


Sent from my iPhone using Tapatalk

[greenlex]

They offered a loan, but they would have to pay it back
There’s a first for everything I suppose.

[SQHib]

They have only had one home game postponed via Ross County where in cash terms that would bring in what 2000 or so walkups + catering + hosp - costs ? £50k ?

They should not be crying foul already unless they had nothing left in the tank ? And also the cup semi final money would surely go to teams about end April at earliest ?

Can't believe this is all down to covid - they must have been running pretty empty before that ?

[Ozyhibby]

Be funny if Hibs announce work starting on the Easter road upgrade early to take advantage of the break. [emoji23]

Obviously this work may get put on the back burner.


Sent from my iPhone using Tapatalk

[Winston Ingram]

That mean Hickey is available on a free?


Sent from my iPhone using Tapatalk

Pretty much aye. EPL club comes in. He rips up his contract, club registers him when the window lives off a big signing on fee til the new season.

[K-Zazu]

So what happens if the players refuse a pay cut?

[HoboHarry]

Pretty much aye. EPL club comes in. He rips up his contract, club registers him when the window lives off a big signing on fee til the new season.
Probably so for the younger players like Hickey, other players like Boyce I'm not so sure about. He's under contract and isn't obliged to take a 50% cut, nor does he have to agree to contract termination....

[Sir David Gray]

So what happens if the players refuse a pay cut?

They also have the option to terminate their contracts.

Failing that then it will likely be forced redundancies.

[Haymaker]

Be funny if Hibs announce work starting on the Easter road upgrade early to take advantage of the break. [emoji23]

Obviously this work may get put on the back burner.


Sent from my iPhone using Tapatalk

You laugh but here in New Jersey the schools are using it as a time to do building work.

[Leith Green]

Fan ownership and donations is all good and well , but what about when fans are going through a recession and ate skint themselves.. They look to be in a right mess from top to bottom. They had an opportunity to sort themselves out but didnt learn from their previous failings. In normal circumstances id have sympathy for them , but their fans lap up the big team bigger budget stuff so it serves them right

[HoboHarry]

So what happens if the players refuse a pay cut?
I doubt Hearts can do anything unless it's confirmed that they are relegated and any existing relegation clauses come into force. Even then I'm not sure how that would work based on when the season normally ends versus when it might end this season...

[Ozyhibby]

They also have the option to terminate their contracts.

Failing that then it will likely be forced redundancies.

Hearts can’t force redundancy on players. All football debt must be paid. The players just need to sit tight in full pay. If something better comes along elsewhere they will move but until then they would be mad to take a cut.


Sent from my iPhone using Tapatalk

[Billy Whizz]

They also have the option to terminate their contracts.

Failing that then it will likely be forced redundancies.

Can you make a player redundant, without going into admin?

[Keith_M]

They're putting the option of '50% pay cut or termination of contract' as being the only options available to the players.

They seem to forget the third option, of some of the players saying... 'no chance, I have a contract and you have to keep paying me what you're contractually obliged to.'

[The 90+2]

Be funny if Hibs announce work starting on the Easter road upgrade early to take advantage of the break. [emoji23]

Obviously this work may get put on the back burner.


Sent from my iPhone using Tapatalk

It would certainly gain good publicity employing people.

[Billy Whizz]

Hearts can’t force redundancy on players. All football debt must be paid. The players just need to sit tight in full pay. If something better comes along elsewhere they will move but until then they would be mad to take a cut.


Sent from my iPhone using Tapatalk
No player is going anywhere just now, would be crazy

[Topographic Hibby]

The 50% pay cut will be used to fund the legal challenge. Lots of money thrown at rich lawyers, taking Stendel's, Naisy's Boycie's 50% to piddle against the wall at the Court of Session, with the result that Hearts are still relegated. Everyone is quids in (especially the lawyers), everyone is happy, it wisnae our fault we wiz relegated, we were at the foot of the league when the season finished, but we weren't the worst team in the league.

Heats kick off next season away at Arbroath. Oh, and the main stand still isn't finished or safe for journalists. Or the board.

Its what big teams do....

[ballengeich]

The problem about giving players the option of terminating their contracts is that there's nowhere else for them to go at present.

From what's been said they're implying that they can keep paying half-wages until playing and income resume. People may feel that's better than administration and compulsory redundancies.

I don't expect them to be the only ones doing this or something similar.

[mjhibby]

Much as I find it highly amusing that they never learn and a disaster of a club I do feel sympathy for all their decent fans although saying that we will suffer as bad as them is not very helpful. We made a £2m profit last season so I don't think we are in a bad position financially.
Also they will be the first of many to take drastic measures. It's inevitable although how they have lost £1m so quickly is staggering.

[Keith_M]

No player is going anywhere just now, would be crazy



:agree:



They're fooling no one.

[SouthMoroccoStu]

Points deduction..?

They SHOULD face one

Once again they haven’t put the correct provisions in place, cutting financial corners while others go about business correctly

While much smaller clubs like Hamilton, St Mirren and Livingston (to name a few) have paid more insurance to cover themselves and protect their employees, Hearts will have enjoyed yet more unfair financial advantages

What players have they bought and paid giving them an advantage (ok from position 12) over other teams?

But they’ll get away with it again

File it under “special circumstances”

[cocteautwin]

So what happens if the players refuse a pay cut?

PFA Scotland step in and remind HMFC of their obligations.

[The 90+2]

So what happens if the players refuse a pay cut?

Admin. Again. They mentioned redundancies in the statement so it could be a way of putting pressure on the playing staff to stop non playing staff being punted.

Craig Levein obviously hasn’t been asked as he’s doing such a terrific job.

[mjhibby]

Can you make a player redundant, without going into admin?

Very good point. Is Queen Anne relying on peer pressure for them to accept it. I bet Liam Boyce is glad he went to the jambos. NOT.

[mjhibby]

This looks like the slow walk to admin especially if this shut down goes on for months. How do all the lower paid staff pay their bills as they won't get handouts for the govt. A ****** omnishambles.

[Billy Whizz]

This looks like the slow walk to admin especially if this shut down goes on for months. How do all the lower paid staff pay their bills as they won't get handouts for the govt. A ****** omnishambles.

Budge will be trying to avoid admin, as she’d probably lose her loan, she put in

[Hibs4185]

I’ve just read that players can leave hearts if they wish. Could we not make an offer To sign hickey and give him a better offer?

The only player in that squad that might be worth something eventually.

[mjhibby]

The impression you get from that is that she already knows they're getting relegated and is cutting their cloth for the Championship.

Never thought of that. No wonder they are panicking. Never thought it was a bad as it is. I'd be very worried if i was a Hertz fan. But as has been said there are far bigger worries for most folk as to whether they get relegated especially people's mental health.

[Greenworld]

Assume that’s the benefactor closed the wallet and said no more cashThe stock market crash put paid to that money

Sent from my SM-G975U1 using Tapatalk

[CloudSquall]

To think two months ago we had posters here telling us that they had pulled it out the bag by signing Boyce and his wages would all be worth it as they could fly towards contention for Europe by the end of the season :faf::faf:

[Clarence]

Those who feel "unable or unwilling" to accept the cut, will be offered the chance to leave the club.

I think Madame Budgerigar should anticipate that her employees will be following her example by seeking legal advice.

[Hibs4185]

All Budge has to do is accept the inevitable relegation and get the prize money for finishing last and their finances will be sorted 😂

Ps where is she getting the money to fight the relegation if they are that skint?

[04Sauzee]

Wonder when we will hear something from PFA Scotland

[Billy Whizz]

Budge should have left 2 years ago. If they were to go into admin, this is no Romanov admin, where he used his country’s bank to fund Hearts
Budge bought the club for around £2m or so, but the Hearts fans have put in £8m plus with FOH. If I was a Hearts fan, I’d be asking her about her management of the club. I’m no legal expert, but wonder how this will pan out?

She’s in a dreadful position due to her ego, in not stepping down

[Ozyhibby]

Budge paid £2.5m for 100% of Hearts.
So far FOH have paid £8.2m for 20% of Hearts.
And they are skint again, threatening not to pay players and about to be relegated.
In tough times like this, it’s good to have something to have a good giggle at.


Sent from my iPhone using Tapatalk

[Skol]

I assume that Hearts still dont have access to external credit (apart from benefactors etc) which for other clubs apart from Rangers might allow them to avoid such action. For a while.....

[DH1875]

Budge should have left 2 years ago. If they were to go into admin, this is no Romanov admin, where he used his country’s bank to fund Hearts
Budge bought the club for around £2m or so, but the Hearts fans have put in £8m plus with FOH. If I was a Hearts fan, I’d be asking her about her management of the club. I’m no legal expert, but wonder how this will pan out?

She’s in a dreadful position due to her ego, in not stepping down

Also gotta question who and how much money was made from that main stand.

[Bostonhibby]

Budge paid £2.5m for 100% of Hearts.
So far FOH have paid £8.2m for 20% of Hearts.
And they are skint again, threatening not to pay players and about to be relegated.
In tough times like this, it’s good to have something to have a good giggle at.


Sent from my iPhone using TapatalkWith numbers like that you'd think they'd all be up to their knees in share certificates.

Sent from my SM-A750FN using Tapatalk

[Ozyhibby]

Hearts and every other club in Britain can borrow from the govt interest free for the next 6 months. The bailout is that useless though that very few firms will take it though because it needs paid back.


Sent from my iPhone using Tapatalk

[Sir David Gray]

Hearts can’t force redundancy on players. All football debt must be paid. The players just need to sit tight in full pay. If something better comes along elsewhere they will move but until then they would be mad to take a cut.


Sent from my iPhone using Tapatalk


Can you make a player redundant, without going into admin?

I don't know I was just referring to their statement;

“In order to try to prevent a staff redundancy programme and to protect as many jobs as possible, I am proposing to implement a club-wide salary reduction programme."

[Biggie]

Budge paid £2.5m for 100% of Hearts.
So far FOH have paid £8.2m for 20% of Hearts.
And they are skint again, threatening not to pay players and about to be relegated.
In tough times like this, it’s good to have something to have a good giggle at.


Sent from my iPhone using Tapatalk

That's going to get the players busting their baĺls for them when they start playing again....😂

[Ozyhibby]

I don't know I was just referring to their statement;

“In order to try to prevent a staff redundancy programme and to protect as many jobs as possible, I am proposing to implement a club-wide salary reduction programme."

Yes, she’s hoping the players voluntarily take a pay cut or else she will make other staff redundant. It’s emotional blackmail.


Sent from my iPhone using Tapatalk

[04Sauzee]

Only the other day they were been giving a fitness plan for when they were at home and being told to come into the gym 2 days a week in small numbers so they can hit the ground running when the season starts back

A couple off days later and they don't expect the season to start back until July /Aug and they are slashing wages, making people go on unpaid leave and threatening redundancies.

[Squealing pig]

Kickback is sweating 😓 but budge is still a hero 😂 great reading material for the next few days

Admin 2 is coming to a screen near u courtesy of the documentary

[Liam6270]

Agent Budge, up there with Albert Kidd GGTTH

[cammy1969]

I don’t think they will be to only club asking staff to do this in the near future and I don’t see a lot wrong apart for the last bit about termination think that a terrible think to say.
Am sure a lot of businesses may need to go down similar path to survive imo


Sent from my iPhone using Tapatalk

[Waxy]

Surely Budge should be self isolating?

[Fuzzywuzzy]

I don’t think they will be to only club asking staff to do this in the near future and I don’t see a lot wrong apart for the last bit about termination think that a terrible think to say.
Am sure a lot of businesses may need to go down similar path to survive imo


Sent from my iPhone using Tapatalk

Its more surprising they're the first. There's other clubs that I would have expected to announce steps like this first

[Jim44]

I wonder what their club captain, SN, thinks about taking a 50% wage cut. Doesn’t he have form for shooting the crow when things got tough at Rangers?

[Ozyhibby]

Wonder if Hearts will name and shame any player who doesn’t take the cut? Surely the PFA would have something to say about tactics like that?


Sent from my iPhone using Tapatalk

[CloudSquall]

It will be absolutely glorious if the documentary covers the club going into admin.

[Bostonhibby]

Surely Budge should be self isolating?She's making a start by putting up a decent barrier between her and all the employees at Tiny.

She'll be safe around Desperate Dan as he's always comfortably at the alcohol content level of all good handwashes.

Sent from my SM-A750FN using Tapatalk

[Billy Whizz]

I wonder what their club captain, SN, thinks about taking a 50% wage cut. Doesn’t he have form for shooting the crow when things got tough at Rangers?

But this time he won’t get a bigger contract elsewhere this time

[jacomo]

Those who feel "unable or unwilling" to accept the cut, will be offered the chance to leave the club.

I think Madame Budgerigar should anticipate that her employees will be following her example by seeking legal advice.


:agree:

I’m no employment lawyer, but I’ve spoken to a few. I’m pretty sure you can’t just terminate someone’s contract if they refuse a 50% wage cut.

That threat will probably persuade some employees to refuse to agree, self-isolate and take their chances. I think I would.

[weecounty hibby]

Its more surprising they're the first. There's other clubs that I would have expected to announce steps like this first

The only two clubs where I can think of that spending is so out of control are Dundee United and Der Hun. Hearts have been mismanaged for probably 30 years or so and have continually spent money they didn't have hoping that the next mug would come along. Mercer, pie man, SMG, Romanov, dodgy banks, dodgy shares, Budgie, Benny Factor, FOH. It's amazing how many mugs/chancers they can attract. Oh and also how many utterly gullible fuds they attract as fans. Let's hope they do go tits up. Great for Hibs and we might get the odd cup derby when the top teams join in with the lower leagues. That is if they haven't already been pumped out by Stranraer or East Fife. GIRFUY tarts

[cammy1969]

Wonder if Hearts will name and shame any player who doesn’t take the cut? Surely the PFA would have something to say about tactics like that?


Sent from my iPhone using Tapatalk

As much as I can understand the 1st part of their statement the end part regarding contract termination is a PR nightmare, while most businesses are looking at ways to safeguard employment their holding a load gun to staffs heads. But hay nothing surprises me with them.


Sent from my iPhone using Tapatalk

[HoboHarry]

Surely Budge should be self isolating?
It's Coronavirus no Avian Bird flu ya daft git......

[EI255]

Budge would do better spending her cash on her bingo wings under her chin.

Sent from my LG-H840 using Tapatalk

[Ozyhibby]

But this time he won’t get a bigger contract elsewhere this time

Yip, he made sure to get every penny of that Norwich contract.


Sent from my iPhone using Tapatalk

[Waxy]

Surely its as simple as a contract is a contract?
If you dont want to cut your wages in half, you dont have to?

[EI255]

The only two clubs where I can think of that spending is so out of control are Dundee United and Der Hun. Hearts have been mismanaged for probably 30 years or so and have continually spent money they didn't have hoping that the next mug would come along. Mercer, pie man, SMG, Romanov, dodgy banks, dodgy shares, Budgie, Benny Factor, FOH. It's amazing how many mugs/chancers they can attract. Oh and also how many utterly gullible fuds they attract as fans. Let's hope they do go tits up. Great for Hibs and we might get the odd cup derby when the top teams join in with the lower leagues. That is if they haven't already been pumped out by Stranraer or East Fife. GIRFUY tartsHats off sir. Beautiful post [emoji122][emoji16]

Sent from my LG-H840 using Tapatalk

[jacomo]

What’s that noise I hear?

[Waxy]

It's Coronavirus no Avian Bird flu ya daft git......

My bad.

[Ozyhibby]

:agree:

I’m no employment lawyer, but I’ve spoken to a few. I’m pretty sure you can’t just terminate someone’s contract if they refuse a 50% wage cut.

That threat will probably persuade some employees to refuse to agree, self-isolate and take their chances. I think I would.

That’s what I thought. This offer makes clear the positions are not being made redundant so hard to pay anyone off if the post still exists.


Sent from my iPhone using Tapatalk

[Ozyhibby]

Surely its as simple as a contract is a contract?
If you dont want to cut your wages in half, you dont have to?

Players are rock solid protected. They can just say no.
Other staff is less clear.


Sent from my iPhone using Tapatalk

[Smartie]

It will be absolutely glorious if the documentary covers the club going into admin.

If we were asked at the start of the season what we wanted from this documentary, we might have said “Levein to come across as a dick and Hearts to finish behind Hibs” or some other fairly mild trauma for them.

Relegation and administration would have been beyond our wildest dreams.

[JimBHibees]

It will involve most clubs taking some sort of hit but you would think that they would have a contingency just in case of emergency.

Budge and co have not lived within their means yet again with benefactors pumping money in left right and centre.?

It’s unfortunate but this world wide crisis is showing them up yet again and living well outwith their means.

To use the coronavirus as an excuse for their complete mismanagement is poor imho.


Sent from my iPhone using Tapatalk

Agree utterly shameful. They have spent way outwith their means again overspent on a joke of a stand and a squad of overpaid junk to be bottom of the league and despite huge investment from generous fans and benefactors are still claiming poverty and looking for sympathy. Shocking mismanagement but no doubt Tom English will still think Budge should be running Scottish football. Deserve to be relegated. Joke of a club.

[Peevemor]

Agree utterly shameful. They have spent way outwith their means again overspent on a joke of a stand and a squad of overpaid junk to be bottom of the league and despite huge investment from generous fans and benefactors are still claiming poverty and looking for sympathy. Shocking mismanagement but no doubt Tom English will still think Budge should be running Scottish football. Deserve to be relegated. Joke of a club.A few months ago Budge was bragging about other clubs (including us) going to her for advice.

[Springbank]

If we were asked at the start of the season what we wanted from this documentary, we might have said “Levein to come across as a dick and Hearts to finish behind Hibs” or some other fairly mild trauma for them.

Relegation and administration would have been beyond our wildest dreams.

...and handing Hibs a bye into The Scottish Cup Final

[CMurdoch]

In all seriousness this is astounding.
Day 5 and they have soiled themselves.

[jacomo]

A few months ago Budge was bragging about other clubs (including us) going to her for advice.


That’s because she is a fool.

[Craig_in_Prague]

In all seriousness this is astounding.
Day 5 and they have soiled themselves.

Just as well there's plenty toilet roll available... oh wait

[Bostonhibby]

A few months ago Budge was bragging about other clubs (including us) going to her for advice.To be fair she was telling everyone what not to do.

Sent from my SM-A750FN using Tapatalk

[Peevemor]

To be fair she was telling everyone what not to do.

Sent from my SM-A750FN using TapatalkIt's a pity she didn't not do it herself

[CMurdoch]

Just as well there's plenty toilet roll available... oh wait

I did wonder why everyone wanted to buy hunners o toilet rolls right enough.
I'm sure FOH will supply them to Mrs B


Meanwhile Christian Berra is laughing his cock off after Daniel asks him if he will take half pay for the good of the club

[Bostonhibby]

It's a pity she didn't not do it herselfToo cocky by half, she wouldn't even take advice from Benny Factor.

Sent from my SM-A750FN using Tapatalk

[Sas_The_Hibby]

The priorities of most of us: 1) The health of ourselves and our families; 2) The health of the rest of the community; 3) People's livelihoods and economic wellbeing; 4) Maintaining social cohesion; 5) Avoiding social isolation for the elderly and vulnerable.

The priorities of HOMFC: 1) Hearts avoiding relegation; 2) Cutting their employees' wages or terminating their contracts.

[Irish Dave]

ah wonderful . Im feeling quite nostalgic. I can't help but feel the glory days are back for hibs.net.

[strummbo]

schadenfreude..pleasure derived by someone from another person's misfortune

girut!

[500miles]

We should be trying to get Haring.

[04Sauzee]

We should be trying to get Haring.

If only he had played football this season, is he even close to any kind of fitness?

[Craig_in_Prague]

Maybe Budge should join the Martin Lewis Coronavirus special tomorrow on ITV on how to save money 🤣

[Mikey]

If they go into administration do they get a points deduction?

[500miles]

If only he had played football this season, is he even close to any kind of fitness?

Back in training.

[Andy74]

This is tremendous news. They’ve been giving it the best run club in the country nonsense since stiffing their previous creditors.

Not surprised they are first out the gate with this. They won’t be the last but going so early confirms how much trouble they are in.

With the various streams of cash they’ve had in then it is staggering they’ve come to this. That stand is their main issue of course.

Budge is your prime example of someone who’s been fortunate to do well with one particular business thinking they are actually any good at it.

Ah well, get it up them. Next few weeks could actually be fun after all.

[Brummie_Hibs]

Its more surprising they're the first. There's other clubs that I would have expected to announce steps like this first
Barnet FC did yesterday

[Bostonhibby]

Maybe Budge should join the Martin Lewis Coronavirus special tomorrow on ITV on how to save money [emoji1787]She would do but she's doing a special for Megastructures on National Geographic Channel.

Right after Constructing Box Girder Bridges and How to irrigate the Sahara - How to nearly build a single tier stand in double the time for treble the price.

Sent from my SM-A750FN using Tapatalk

[CMurdoch]

Biscuits Preston on Day 2 of Self Isolation at home

https://www.facebook.com/TheSeshPage/videos/526833931598396/

[tamig]

Yes indeed. Our balance at end of June 2019 included the season ticket money to be spread out over the year so current cash balances will be low but at least we have a wealthy owner to help see us through until new season ticket money becomes available. We are not going to be immune from financial difficulties.

HMFC on the other hand had irresponsibly already spent in advance most of their season ticket money and most likely needed an injection of around £4m from the benefactor before the season even started.

They are stuffed.
And they were still blowing cash in January for the likes of Boyce. Hell mend them. Unbelievable how much cash has been pished away at that place. Huge sums. And all for this.

[Bostonhibby]

Is there any chance of Craig Levein riding in on his white charger and saving them again? They've been keeping him in reserve for something surely?

Sent from my SM-A750FN using Tapatalk

[04Sauzee]

And to think this was only 3 short months ago

https://www.thescottishsun.co.uk/sport/football/5134085/ann-budge-hearts-main-stand-tynecastle-final-bill-22-5m/

[B.H.F.C]

We maybe could if everyone renewed their season ticket even though we don’t know when we’ll start playing again.

Think people would happily renew to look after the club. A hell of a lot of people are facing financial uncertainty though. Everyone renewing over the next few months simply isn’t going to happen.

[JimBHibees]

A few months ago Budge was bragging about other clubs (including us) going to her for advice.

And openly bragging about it on her website plus a pathetic dig at Jack Ross when Jakey Stendel was announced. Hearts class.

[Craig_in_Prague]

Is there any chance of Craig Levein riding in on his white charger and saving them again? They've been keeping him in reserve for something surely?

Sent from my SM-A750FN using Tapatalk

I believe he's being kept in Budgies spare room, with a leather face mask on during lockdown.
As a pass time, he's counting his medals and then backwards.

[Billy Whizz]

I believe he's being kept in Budgies spare room, with a leather face mask on during lockdown.
As a pass time, he's counting his medals and then backwards.

I think they can’t afford to pay him off

[cocteautwin]

What’s that noise I hear?

It’s the gentle soothing sound of the pigeons wings, fluttering in on their journey home getting ready to roost.

[Bostonhibby]

I think they can’t afford to pay him off[emoji23] oh the irony, please be true [emoji120]

Sent from my SM-A750FN using Tapatalk

[tamig]

Is there any chance of Craig Levein riding in on his white charger and saving them again? They've been keeping him in reserve for something surely?

Sent from my SM-A750FN using Tapatalk

Did a big win come in like? I wonder what he’s betting on now.

[cocteautwin]

Unbelievable how much cash has been pished away at that place. Huge sums.

By my reckoning it’ll be somewhere in the region of £28m of external funds, over and above their normal income, by the time 30 June comes around.

[tamig]

By my reckoning it’ll be somewhere in the region of £28m of external funds, over and above their normal income, by the time 30 June comes around.

Sums like that should have had them challenging for all domestic honours. Gross mismanagement. I can’t believe a swathe of their support still give her their backing.

[Craig_in_Prague]

Sums like that should have had them challenging for all domestic honours. Gross mismanagement. I can’t believe a swathe of their support still give her their backing.

Backing...soon it'll be their baking 🥮

[Irish_Steve]

#donatealoorolltoayamcostheyaregoingtoneedit


Get it up ye, ya maroon balloons!

[Topographic Hibby]

What’s that noise I hear?If its silence, its the solo Plaza clapper. The number of hands has been reduced by 50%...

[cocteautwin]

Meanwhile Christian Berra is laughing his cock off after Daniel asks him if he will take half pay for the good of the club

Aw man, imagine if the documentary team are there to film the moment Berra gets asked to take half pay!

[emoji1787]

[Eyrie]

The sensible way to handle this is surely asking players to accept a deferment of part of their salaries rather than a pay cut.

Unless of course, Hearts are using this as an opportunity to address underlying financial problems.

[Andy74]

The sensible way to handle this is surely asking players to accept a deferment of part of their salaries rather than a pay cut.

Unless of course, Hearts are using this as an opportunity to address underlying financial problems.

Yep. First chance and straight in there trying to cut the wage bill.

[Bostonhibby]

The sensible way to handle this is surely asking players to accept a deferment of part of their salaries rather than a pay cut.

Unless of course, Hearts are using this as an opportunity to address underlying financial problems.Indeed, but remember we are dealing with the people who overseen the megastand building project and the mugs who directly and indirectly fund this and anything else their owner decides to do next.

Sent from my SM-A750FN using Tapatalk

[jacomo]

This is tremendous news. They’ve been giving it the best run club in the country nonsense since stiffing their previous creditors.

Not surprised they are first out the gate with this. They won’t be the last but going so early confirms how much trouble they are in.

With the various streams of cash they’ve had in then it is staggering they’ve come to this. That stand is their main issue of course.

Budge is your prime example of someone who’s been fortunate to do well with one particular business thinking they are actually any good at it.

Ah well, get it up them. Next few weeks could actually be fun after all.


The unashamed glee in your post cheered me up!

:thumbsup:

[Hibby70]

Don't know why they don't just release the documentary on DVD now.

They'd be raking it in.

[matty_f]

Rational head on, all the players will likely accept it, to not do so and jeopardise the club would be dire for them unless they're looking for a route out of the club.

[givescotlandfreedom]

I'd like to know how we're going to get through before laughing at them.
It's a real shame for the normal staff at Hearts but how can parasites like Levein and McPhee take money off them for abject failure - absolutely shameless.

[givescotlandfreedom]

Rational head on, all the players will likely accept it, to not do so and jeopardise the club would be dire for them unless they're looking for a route out of the club.

Didn't a number of Hun players clear off when the new entity was formed? I'm sure Naismith was one of them.

[mcfly]

Thing is If they are asking players to take 50% wage cut and the refuse then they are free to leave as contracts will be terminated.

When we play them in the cup it is still this season’s competition so anyone not signed by them by the date the competition was to be played can’t therefore play?

Am I correct in saying this that only current players can play and not anyone new after the summer.

[matty_f]

I'd like to know how we're going to get through before laughing at them.
It's a real shame for the normal staff at Hearts but how can parasites like Levein and McPhee take money off them for abject failure - absolutely shameless.

This is worth considering as well. Hibs also are in a position where we don't have income that we planned on.

We *should* be able to borrow from Ron Gordon as a last resort, however with the hammering that the stock exchanges have taken, it's very likely that he's not worth as much as he was when he bought us, do that route might not be as readily available.

Hopefully, we're in a good enough position to ride it out, might mean that we have a very lean transfer window but if we can get through that and come out the other side, we'll be well placed to kick on.

[FilipinoHibs]

Rational head on, all the players will likely accept it, to not do so and jeopardise the club would be dire for them unless they're looking for a route out of the club.

Otherwise admin and no wages. Big Eck not around to save them as has other matters on his hands.

[SMAXXA]

Wouldn’t the current cash balance in the bank for Hibs be sufficient to at least see us through the next few months

[Andy74]

Thing is If they are asking players to take 50% wage cut and the refuse then they are free to leave as contracts will be terminated.

When we play them in the cup it is still this season’s competition so anyone not signed by them by the date the competition was to be played can’t therefore play?

Am I correct in saying this that only current players can play and not anyone new after the summer.

No, the other option is that the players just say no thanks and Hearts can’t do anything about it.

[Ozyhibby]

Rational head on, all the players will likely accept it, to not do so and jeopardise the club would be dire for them unless they're looking for a route out of the club.

I think the PFA and their agents will strongly advise them not to take it. Boyce only signed for them 8 weeks ago (roughly) and he had other options. Now they expect him to take half what was agreed?


Sent from my iPhone using Tapatalk

[The 90+2]

Rational head on, all the players will likely accept it, to not do so and jeopardise the club would be dire for them unless they're looking for a route out of the club.

Many players will have commitments that won’t allow them to take half wages. Unless it’s explained to them it’s half wages or definite redundancy.

[SuperAllyMcleod]

https://uploads.tapatalk-cdn.com/20200318/4e828c1ac68cefae849ed569ec51ee1e.jpg

Interesting tweet from Bella Caledonia a couple of days ago - some interesting figures there and the end column gives a good insight into who is going to handle the lay-off best.

Top marks to some of the other well run teams - St Johnstone and Livi in particular.

The teams with overspending form, not so good.

[neil7908]

I think the PFA and their agents will strongly advise them not to take it. Boyce only signed for them 8 weeks ago (roughly) and he had other options. Now they expect him to take half what was agreed?


Sent from my iPhone using Tapatalk

Trouble is, they've no chance of finding a club in the short term so Hearts have them over a barrel.

It's a real nasty move by them. Budge has royally screwed them up. Millions pumped in to end up bottom of the league and unable to handle any kind of financial hit. Basically Romanov mark 2.

[Ozyhibby]

Trouble is, they've no chance of finding a club in the short term so Hearts have them over a barrel.

It's a real nasty move by them. Budge has royally screwed them up. Millions pumped in to end up bottom of the league and unable to handle any kind of financial hit. Basically Romanov mark 2.

They don’t need to find a new club. They can stay at Hearts on full pay.


Sent from my iPhone using Tapatalk

[The 90+2]

Thing is If they are asking players to take 50% wage cut and the refuse then they are free to leave as contracts will be terminated.

When we play them in the cup it is still this season’s competition so anyone not signed by them by the date the competition was to be played can’t therefore play?

Am I correct in saying this that only current players can play and not anyone new after the summer.

The registration rule is there for the cup yet because it’s them they would probably ask for special dispensation and be granted it. Like they did with Edinburgh council, like the did with HWU like they have in the past with the SPL when failing to pay wages, then when they got away with going into admin once the season had ended, relegating Dundee when everyone knew what was coming and the league sat back and allowed it, then when they built their new stand asked for loads of matches away from home, asked the clubs and the spfl to help and got their way, asked to use murrayfield to host games against Rangers and Aberdeen to boost their finances before having to play more games away from home and got their way, the same SPFL they are now threatening with legal action if they go down despite being the ****test side in the top league for over a year. Them and special permission go hand in hand and they always seem to get away with it or they get it going their way. Just once I hope they get a taste of their medicine and are relegated.

[The 90+2]

They don’t need to find a new club. They can stay at Hearts on full pay.


Sent from my iPhone using Tapatalk

Not if they apply for administration (which they won’t because budge will lose money) so you are indeed correct (I hope).

[Hibbyradge]

I’ll be honest, don’t take much joy out of any of this.

Things really are a lot more important just now

That's where I am.

[Ozyhibby]

Not if they apply for administration (which they won’t because budge will lose money) so you are indeed correct (I hope).

Even admin doesn’t shed debt to players. Football debts must be paid in full or the SFA will take away their license.


Sent from my iPhone using Tapatalk

[The 90+2]

Even admin doesn’t shed debt to players. Football debts must be paid in full or the SFA will take away their license.


Sent from my iPhone using Tapatalk

Admin would leave players jobless though.

[jeffers]

While other clubs will struggle due to coronavirus (us included) I can't believe how badly they have been mismanaged yet again, all the while Budge has been blowing her own trumpet as if she has been doing a fantastic job. The very fact they were banking on receiving money for the semi, shows what a mess they are in, I don't believe for a minute we were relying on it for day to day running costs.

Rivals aside I might feel a bit more sympathy if she had acted with a bit more class, but the regular posturing coupled with the petty digs at us when appointing Stendal and signing Boyce, **** them I say.

[Danderhall Hibs]

Didn't a number of Hun players clear off when the new entity was formed? I'm sure Naismith was one of them.

Whittaker, Naismith and McGregor I think. All didn’t sign the TUPE agreement - different time this where they’re trying to force a pay cut on the players.

[04Sauzee]

Scotlands PFA already been contacted by Hearts staff

https://www.thescottishsun.co.uk/sport/football/5402432/hearts-fc-news-uche-damour-cash-stapped-summer/amp/?__twitter_impression=true

[FilipinoHibs]

https://uploads.tapatalk-cdn.com/20200318/4e828c1ac68cefae849ed569ec51ee1e.jpg

Interesting tweet from Bella Caledonia a couple of days ago - some interesting figures there and the end column gives a good insight into who is going to handle the lay-off best.

Top marks to some of the other well run teams - St Johnstone and Livi in particular.

The teams with overspending form, not so good.

Although Saints owner says he will have to bail them out. Rangers' directors about to dig into their pockets again to keep club running.

[Ozyhibby]

Admin would leave players jobless though.

But unless Hearts get liquidated they would still get paid eventually. No matter what, their contract needs paid up for Hearts to keep playing.


Sent from my iPhone using Tapatalk

[FilipinoHibs]

But unless Hearts get liquidated they would still get paid eventually. No matter what, their contract needs paid up for Hearts to keep playing.


Sent from my iPhone using Tapatalk

Voluntary liquidation would protect Budge from the creditors which would be in the main the players. This may be a cheaper option as the the player's wages under contract is larger than her £1.9 million loan to Hearts. The FOH money for the buyout is sitting somewhere and they don't have their shares. Budge saying fan takeover could be delayed. All very complex and murky. Watching it unfold over the summer will rival the Romanov admin.

[NAE NOOKIE]

My thoughts on the sporting angle of this vis a vis relegation in these circumstances I've made clear, but that's where any sympathy for Hearts ends.

Compared to every other club in the league outwith the uglies they have had vast amounts of money pumped into them over the last few years, with a large wedge of it unearned income like FOH contributions and 'mystery' donations, but what have they done with that money?

Way overspent on a badly designed stand which could have been built at a far smaller cost, if their over inflated sense of what they are as a club hadn't gotten in the way. Paid out wages to players that appear to have been outwith their ability to sustain, even though they were partially screwed by that very thing the last time.

It's incredible that given their history they don't appear to have set any money aside for the proverbial rainy day and unless I misread it somebody said they budgeted for getting to the cup semis at the start of the season, an insane way for any club to operate.

They should never have been in the position of being only the second club in the whole of the UK to announce measures like this, but one thing is for sure, they wont be the last. Taken to its extreme if nothing changes by the end of this year and given that according to the wee chart folk are sharing only three clubs in the league will make it past two months before the cash runs out, we will be lucky if there is a bloomin' professional league left for Hibs to play in by the time things get better.

[mjhibby]

Wouldn’t the current cash balance in the bank for Hibs be sufficient to at least see us through the next few months

I believe it's six months cover we have.

[cocteautwin]

https://uploads.tapatalk-cdn.com/20200318/4e828c1ac68cefae849ed569ec51ee1e.jpg

Interesting tweet from Bella Caledonia a couple of days ago - some interesting figures there and the end column gives a good insight into who is going to handle the lay-off best.

Top marks to some of the other well run teams - St Johnstone and Livi in particular.

The teams with overspending form, not so good.

That list is almost totally meaningless. It's just a snapshot of cash balances in the last published accounts. It has little bearing on any of the club's abilities to stay afloat in the current climate. For example the Hibs' balance of £4.2m is likely close to zero now that we are in March and most of the season ticket money has been spent servicing the ongoing costs of the season. Shouldn't be a problem for Hibs though.

[cocteautwin]

I believe it's six months cover we have.

No-one knows what the current cash balances are at Hibs apart from the Directors and the Accounts team. The figure is only published once a year in the accounts and that is at a date when cash balances are at their peak due to season ticket money. It certainly won't be 6 months cover that's sitting in the bank at the moment but one would imagine there is enough in the tank to see us limp to the back end of the season when we can start collecting season ticket money for the new season (and there should be support from Ron Gordon if it's needed).

[FilipinoHibs]

No-one knows what the current cash balances are at Hibs apart from the Directors and the Accounts team. The figure is only published once a year in the accounts and that is at a date when cash balances are at their peak due to season ticket money. It certainly won't be 6 months cover that's sitting in the bank at the moment but one would imagine there is enough in the tank to see us limp to the back end of the season when we can start collecting season ticket money for the new season (and there should be support from Ron Gordon if it's needed).

Emergency measures can be taken to improve cash flow - don't renew any expiring contracts and sign no new players

That is why calling a halt to the season now is important. You cant sell season tickets without a start date and the composition of the league being known. Therefore, you can't plan for next season or set a start date. LC could be made knockout with SPL teams entering at last 16.

[kaimendhibs]

Nothing is clear. people will die, be hospitalized, lose jobs.
Madness to sell season tickets now
IMO of course

Sent from my SM-G973F using Tapatalk

[mjhibby]

The registration rule is there for the cup yet because it’s them they would probably ask for special dispensation and be granted it. Like they did with Edinburgh council, like the did with HWU like they have in the past with the SPL when failing to pay wages, then when they got away with going into admin once the season had ended, relegating Dundee when everyone knew what was coming and the league sat back and allowed it, then when they built their new stand asked for loads of matches away from home, asked the clubs and the spfl to help and got their way, asked to use murrayfield to host games against Rangers and Aberdeen to boost their finances before having to play more games away from home and got their way, the same SPFL they are now threatening with legal action if they go down despite being the ****test side in the top league for over a year. Them and special permission go hand in hand and they always seem to get away with it or they get it going their way. Just once I hope they get a taste of their medicine and are relegated.

Well said. They are so shallow that the fact they had those games at Murray field boosted their average attendance by thousands meaning they had a bigger average attendance than us. I'm not bothered in the slightest regards that but they gave it the big team pish when it was the the rangers fans who who made the diffference. Always the victim and looking for favours. Tom English is usually quite perceptive but praising Hertz for a great recovery from Romanov while they were happy to let him spend money I'm sure they knew he never had the money has grated with me. What happened yesterday was going to happen anyway and even if the season gets finished they are very strong favourites to go down and budge knows they are totally up ******* creek. If I was a Hertz player I would be planning my exit now.

[Springbank]

The Butterfly Effect

A random guy in China eats a pangolin & 5 months later overspending Hearts go into Administration

#NaturalOrder

[RoxburghHibs]

No, the other option is that the players just say no thanks and Hearts can’t do anything about it.

Yeah that’s what I was thinking. So there are three options..

1. Take 50% pay cut and stay
2. Refuse pay cut and terminate contract
3. Refuse pay cut and stay

[Ozyhibby]

No-one knows what the current cash balances are at Hibs apart from the Directors and the Accounts team. The figure is only published once a year in the accounts and that is at a date when cash balances are at their peak due to season ticket money. It certainly won't be 6 months cover that's sitting in the bank at the moment but one would imagine there is enough in the tank to see us limp to the back end of the season when we can start collecting season ticket money for the new season (and there should be support from Ron Gordon if it's needed).

And we are due £1.5m prize money as soon as the league decide to end the season.


Sent from my iPhone using Tapatalk

[Since452]

I've not heard of any other club in Scottish football taking this measure. Not saying they won't but after one weekend of postponed fixtures is pretty telling.

[Jim44]

The height of delusion.

We are in a better position to survive the financial meltdown than most.

[jacomo]

Voluntary liquidation would protect Budge from the creditors which would be in the main the players. This may be a cheaper option as the the player's wages under contract is larger than her £1.9 million loan to Hearts. The FOH money for the buyout is sitting somewhere and they don't have their shares. Budge saying fan takeover could be delayed. All very complex and murky. Watching it unfold over the summer will rival the Romanov admin.


Budge is not going to liquidate the club.

You may mean voluntary administration but - as Ozyhibby says - football debt remains payable. They would just bump their other creditors (again).

[GreenCastle]

Do the Hearts players go back to full pay if / once the season resumes ?

Or when do they go back to usual rate of pay ?

Like others have said I can’t actually believe they have got themselves into a mess again - this is ONLY 1 week after games have been cancelled.

The amount of money they have spent since start of the Romanov days must be huge - anyone able to work it out ??

[JimBHibees]

This is worth considering as well. Hibs also are in a position where we don't have income that we planned on.

We *should* be able to borrow from Ron Gordon as a last resort, however with the hammering that the stock exchanges have taken, it's very likely that he's not worth as much as he was when he bought us, do that route might not be as readily available.

Hopefully, we're in a good enough position to ride it out, might mean that we have a very lean transfer window but if we can get through that and come out the other side, we'll be well placed to kick on.

Assuming apart from the placings payments approx 1.5m for 6th or so that there would be insurance covering lost earnings for pandemic situation. Listened to sportsound and.it sounded as if clubs would have such a policy. Obviously the devil would be in the detail but what do you pay for insurance if not for situations like this. Of course the whole league debate and decision will decide when league payment comes through however it will be coming and again assume a part earlier payment would be agreed with the spfl to tide clubs over. A big issue will be many clubs including ours will depend on early season ticket purchase for next season and the current confusion will put that back however would be surprised if clubs are not putting something out about this in next few weeks to get some money in now.

[Hibs4185]

This is worth considering as well. Hibs also are in a position where we don't have income that we planned on.

We *should* be able to borrow from Ron Gordon as a last resort, however with the hammering that the stock exchanges have taken, it's very likely that he's not worth as much as he was when he bought us, do that route might not be as readily available.

Hopefully, we're in a good enough position to ride it out, might mean that we have a very lean transfer window but if we can get through that and come out the other side, we'll be well placed to kick on.

Even if we presume the worst in terms of finance, we would still have the option of third party finance like a bank. No way hearts or rangers would be touched with a barge pole considering their well known struggles.

Id also imagine in the worst case scenarios STF might lend us a couple of million similar to the previous deal to keep us going if the *hit hits the fan.

I trust in the board, that hibs will be fine

[Hibs4185]

No-one knows what the current cash balances are at Hibs apart from the Directors and the Accounts team. The figure is only published once a year in the accounts and that is at a date when cash balances are at their peak due to season ticket money. It certainly won't be 6 months cover that's sitting in the bank at the moment but one would imagine there is enough in the tank to see us limp to the back end of the season when we can start collecting season ticket money for the new season (and there should be support from Ron Gordon if it's needed).

If we use that logic and think that hibs reserves are depleted then the rest of the clubs in that table are totally screwed.

[Kojock]

Scotlands PFA already been contacted by Hearts staff

https://www.thescottishsun.co.uk/sport/football/5402432/hearts-fc-news-uche-damour-cash-stapped-summer/amp/?__twitter_impression=true

To save anyone else clicking on that rag here’s the relevant bit.

Fraser Wishart, Chief Executive of PFA Scotland, said that Hearts employees had already been in touch since the announcement.

He said: “We have been contacted by our members at Hearts but it would be inappropriate to comment until we have spoken to them in more detail and spoken with the club.”

[Onceinawhile]

We are probably in a slightly better position as we've just had a Derby at home meaning we shifted 3,500 tickets at 30 a pop.

That won't stretch too far unfortunately, so we just need to hope that someone at the club has been sensible and kept a rainy day fund.

Don't take any particular joy in them asking staff to take pay cuts and ticket office staff and club shop staff getting shafted tbh.

[Bostonhibby]

Admin would leave players jobless though.But Hearts will want to heroically emerge from admin again and once again be a club like no other club again, so unless the rules are massively ignored they've got to pay all football debt in full to do that.

Any player that wants what Hearts were willing to pay them to play for them would have to be paid in full if Hearts wanted to play professional football again.

Sent from my SM-A750FN using Tapatalk

[jacomo]

The height of delusion.

We are in a better position to survive the financial meltdown than most.


Budge is so out of her depth it’s frightening.

[greenpaper55]

Have they paid the builder for the new stand yet ? maybe this has something to do with it .

[Peevemor]

And we are due £1.5m prize money as soon as the league decide to end the season.


Sent from my iPhone using Tapatalk

The bottom club get £1.12m - this is the minimum amount that any club will get and my understanding is that this is paid in instalments during the season. So even if we would be due £1.56m for finishng 6th, we might already have had about half of that.

[brog]

That list is almost totally meaningless. It's just a snapshot of cash balances in the last published accounts. It has little bearing on any of the club's abilities to stay afloat in the current climate. For example the Hibs' balance of £4.2m is likely close to zero now that we are in March and most of the season ticket money has been spent servicing the ongoing costs of the season. Shouldn't be a problem for Hibs though.


No-one knows what the current cash balances are at Hibs apart from the Directors and the Accounts team. The figure is only published once a year in the accounts and that is at a date when cash balances are at their peak due to season ticket money. It certainly won't be 6 months cover that's sitting in the bank at the moment but one would imagine there is enough in the tank to see us limp to the back end of the season when we can start collecting season ticket money for the new season (and there should be support from Ron Gordon if it's needed).

While thats 100% correct we have also had income since the start of the season. In addition to routine walk ups & away support, say an average of £40k per game, we've had 4 games against the uglies & our ugly neighbours which will have generated about £500k. We should all be concerned but, comparatively, we're in a decent place.

[FilipinoHibs]

Budge is not going to liquidate the club.

You may mean voluntary administration but - as Ozyhibby says - football debt remains payable. They would just bump their other creditors (again).

Yes I meant voluntary administration. I am not sure the players wages count as football debt. I thought it would be debt to other clubs etc.. The admins would try to cut costs by making players redundant or reducing wages. See Morton/Motherwell.

http://news.bbc.co.uk/sport2/hi/football/teams/m/motherwell/1958230.stm

[Since452]

We should offer Hickey a contract now

[brog]

That's where I am.

I'm exactly the opposite D. Anything that both cheers me up & distracts me from the awful state of the world is fine by me. I never thought I'd say this but, Thank You Hearts!!

[Riverside Hibs]

Biscuits Preston on Day 2 of Self Isolation at home

https://www.facebook.com/TheSeshPage/videos/526833931598396/

I have not laughed so hard in a while.

[HFC93]

What's stopping Hickey refusing the pay cut and leaving for nothing? That's them losing a pized asset for **** all.

[Since452]

If Hearts went to the wall it would cheer me up no end. The most slippery, skeekit, untrustworthy club in word football and I include the old Rangers in that. Started in the Mercer days and 30 odd years later they haven't learned their lessons despite wriggling out of it less than a decade ago. I'd dance on their grave. Hibs will be just fine and dandy without them. In fact we'd be even stronger. If Karma is about to finish them off for good then I'm all for it. Tramps.

[Brightside]

What's stopping Hickey refusing the pay cut and leaving for nothing? That's them losing a pized asset for **** all.

The fact he’s a daft wee Jambo?

[The 90+2]

The fact he’s a daft wee Jambo?

He’s a Celtic fan from Celtic land who has made it known prior to this he wants to go back to Celtic. The exact opposite of Callum Patterson kicking about and staying the last time.

[The 90+2]

But Hearts will want to heroically emerge from admin again and once again be a club like no other club again, so unless the rules are massively ignored they've got to pay all football debt in full to do that.

Any player that wants what Hearts were willing to pay them to play for them would have to be paid in full if Hearts wanted to play professional football again.

Sent from my SM-A750FN using Tapatalk

All true.