Yam accounts

[Ozyhibby]

https://www.heartsfc.co.uk/news/article/annual-report-financial-statements-1
Accounts out, big increase in commercial income.


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[007]

They forgot: Team - 12 months of dugsh*te

[JeMeSouviens]

turnover increased by over 20% from £12.1m to £15.1m

Impressive.

*******s!

[The 90+2]

They forgot: Team - 12 months of dugsh*te

Off the pitch they seem to be doing everything right. Underneath that link it’s an announcement of a further three year deal with Umbro too.

[Jim44]

Maybe they’ll go after Mourinho after all. Money talks. :greengrin

[MWHIBBIES]

as we move ever close to becoming the largest fan-owned football club in the UK

Had to stop here. Embarrassing.

[truehibernian]

Maybe they’ll go after Mourinho after all. Money talks. :greengrin

How much did their inflated egos go up this year :greengrin can't ever remember it showing any signs of slowing down :greengrin

We really should start selling decent chips to keep up with them :aok::greengrin

[Stuart93]

Unreal how far behind them we are with regards to commercial income.

[BigKev]

Decent figures to be fair. Wonder how much they received from their anonymous benefactors this year.

Also shows the difference in a successful supporters donation fund in addition to good cup runs.

[Blaster]

Unreal how far behind them we are with regards to commercial income.

Has there overall income not partly been explained before eg in-house catering. They will have higher costs too

[JohnMcM]

Unreal how far behind them we are with regards to commercial income.

They are getting something right, no doubt about it. Fair play to them.

:flag:

[Barney McGrew]

Decent figures to be fair. Wonder how much they received from their anonymous benefactors this year.

£2.25m by the looks of it.

And £700k from the Foundation Of Hertz, which is down on last year I think?

Both numbers may be wrong though, I’m sure someone more numerically literate can confirm.

[Scottie]

They are getting something right, no doubt about it. Fair play to them.

:flag:
:agree: Well done to them, hope our next set of figures are better than they have been recently.

[Cataplana]

Unreal how far behind them we are with regards to commercial income.

Income does not equal profit.

[CB_NO3]

Decent set of accounts. Serious question but, has Budge received any of her money back as of yet? Or is the FOH money getting banked away to complete that transaction at a later date?

[B.H.F.C]

Any million pound donations this year?

[truehibernian]

They are getting something right, no doubt about it. Fair play to them.

:flag:


It's not size that matters it's what you do with it (so they say :greengrin) - finished above them last two seasons, won a cup more recently than them, above them now and they have a huge squad in comparison. Derbies are 'even stevens' these days between us. The match day experience at Hibs could certainly improve (no doubt about it), as could the commercial side of things, but we've also been in a position where we've posted huge profit and been as poor on the park.

Their Scottish Cup run last year must also rank as the easiest in recent memory. They may be making a lot but they're not spending it wisely or well (in my opinion).

[BigKev]

Any million pound donations this year?

There’s a few 😂 One for £1m, another for £2.25 and a FoH of £1.25m that I can see.

[CB_NO3]

£3.25M in total from benefactors and that does not include the FOH donations.

[BILLYHIBS]

as we move ever close to becoming the largest fan-owned football club in the UK

Had to stop here. Embarrassing.

We have a new owner/benefactor exciting times lie ahead let’s just wait and see what the future holds re plans/ strategy going forward to be announced in the New Year

I have total faith in Wee Ron to deliver

[greenginger]

Profit of £ 2.9 million and no tax paid.

That’s because they are allowed to use the huge losses sustained during the Vlad years to offset any profit.

Doesn’t seem to matter that the debts created were written off , they can still use those losses to their advantage.

[ian cruise]

Profit of £ 2.9 million and no tax paid.

That’s because they are allowed to use the huge losses sustained during the Vlad years to offset any profit.

Doesn’t seem to matter that the debts created were written off , they can still use those losses to their advantage.

That can't be right surely? If the debts written off via administration (or any other means) how in earth can they get away with that.

Tax rules in this country are a shambles.

[weecounty hibby]

£3.25M in total from benefactors and that does not include the FOH donations.

Totally sustainable. It's just like owing it to yourself. No matter who the benefactors are they won't keep giving like that, especially when they have absolutely zero chance of success

[Aim Here]

At least two donations this time. One 'exceptional donation' of £2.25 million and another 'exceptional donation towards player costs' of £1 million. Not counting their 'Save the Children' sponsorship, which is another mystery donation in disguise, though it's somewhere shy of £900k.

Raking in £2 million profit after being given £4 million of free money is just the kind of genius business acumen I expect from Heart of Midlothian football club.

[660]

Hope they have some cash to give McCall or McCann a decent wedge

[Hibs4185]

Not read them but essentially another loss without the ‘exceptional donations?

£3.25 million donations, profit of £2.9 million?

[007]

At least two donations this time. One 'exceptional donation' of £2.25 million and another 'exceptional donation towards player costs' of £1 million. Not counting their 'Save the Children' sponsorship, which is another mystery donation in disguise, though it's somewhere shy of £900k.

Raking in £2 million profit after being given £4 million of free money is just the kind of genius business acumen I expect from Heart of Midlothian football club.

Where are you seeing those figures? I can only see what they've mentioned on the website but not the actual accounts.

[ancient hibee]

Where are you seeing those figures? I can only see what they've mentioned on the website but not the actual accounts.

Mentioned three or four times in the notes and shown in the capital/equity section.Also nearly £4M of loans outstanding to Bidco and another direrctor.

[MWHIBBIES]

We have a new owner/benefactor exciting times lie ahead let’s just wait and see what the future holds re plans/ strategy going forward to be announced in the New Year

I have total faith in Wee Ron to deliver

What? What does that have to do with my post?

[04Sauzee]

Mentioned three or four times in the notes and shown in the capital/equity section.Also nearly £4M of loans outstanding to Bidco and another direrctor.

What does that mean to someone like me who is clueless when it comes to accounts

[ancient hibee]

What does that mean to someone like me who is clueless when it comes to accounts

It means there's a few liabilities swimming around and without them they couldn't have done what they have done in building the stand.

[green with envy]

I'm certainly not overly worried with that lot RE: their increased turnover.

A team languishing near the bottom of the league with all that investment is not being managed to it's potential. Car-Crash of a club is my opinion FWIW.

[Corstorphine Hibby]

Totally sustainable. It's just like owing it to yourself. No matter who the benefactors are they won't keep giving like that, especially when they have absolutely zero chance of success

It probably has more to do with their obsession of trying to out muscle us financially

[Rumble de Thump]

Over the past few years, Hearts have shown that they definately don't do things "right off the pitch". If every club in Scotland was run as badly as they are with a fur coat nae knickers approach the game would be dead.

[Since90+2]

If anything shows what a shambles of a club they are. Turnover of that amount , and the 12m the previous season, and the best they can muster is two 6th place finishes. Losers.

[BILLYHIBS]

What? What does that have to do with my post?

Duh!

Pointing out that we are owned by a proprietor and can never be fan owned as a club!!!

[Peevemor]

If you take away the donations they're showing a £400k loss, that's despite the SC run and their much vaunted (on here) commercial income.

Once a bunch of scrounging losers always a bunch of scrounging losers.

[MWHIBBIES]

Duh!

Pointing out that we are owned by a proprietor and can never be fan owned as a club!!!

But what does Hibs ownership have to do with my post that was about Hearts ownership? I thought the blatant lie that I quoted was embarrassing, nothing at all to do with Hibs.

[HIBERNIAN-0762]

If you take away the donations they're showing a £400k loss, that's despite the SC run and their much vaunted (on here) commercial income.

Once a bunch of scrounging losers always a bunch of scrounging losers.

Exactly this, the roseberry's have been bailing them out for decades, lying thieving tramps, paid yer Poppy Fund this year?

[BILLYHIBS]

But what does Hibs ownership have to do with my post that was about Hearts ownership? I thought the blatant lie that I quoted was embarrassing, nothing at all to do with Hibs.

Apologies did not realise you were quoting verbatim from a blatant lie in the Yam Accounts???

Who knew? :greengrin

[tamig]

Decent set of accounts. Serious question but, has Budge received any of her money back as of yet? Or is the FOH money getting banked away to complete that transaction at a later date?

I’m sure she was meant to have been repaid a couple of years back. That was before the FOH dosh started getting diverted into everyday running costs and superbly managed projects.

[Bostonhibby]

All that money and still below heckingbottom's Hibs. Might be another season behind the "wee team".

If I was sinking cash into this one year one I'd be happy, but now?

Good job Mrs B

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[Col2]

FOH donations down 8.5% and expected to be materially down given last few months debacle with loser Levein (not shown in accounts). I would guess they are down 15% minimum, they will continue to drop given its natural for fans to assume the bad stuff out the way.

Without this and benefactors they would have made a big loss.

The one tier stand still getting built. How much is that then? £20m? £25m? What a vanity project and what a financial disaster.

When Budge goes so does the wealth chums. Then it’s down to Jimmy, Maggie and Fred to run the club with another bunch of chumps in a true bowling committee style.

[Col2]

And it’s quite incredible the wasted resources and lack of ANY success.

Robbie Neilson is the most successful football achievement for Dr Budge 😂😂😂

Two season behind Hibs, we win the holy grail, play in Europe and have higher attendances (last season)

[Marvellous]

Have they set any money aside for adding a second tier to their tin can "stadium"?

[Col2]

Have they set any money aside for adding a second tier to their tin can "stadium"?

They need money to finish floor 3 and floor 4 and some other essentials as part of one tier stand before even thinking abou that. Spurs stadium was built in much less time.

[greenginger]

Hi
Have they set any money aside for adding a second tier to their tin can "stadium"?


I don’t know what it’s for but note 29 of their accounts says they have operating lease commitments of over £ 2.5 million , last year our lease commitments were £ 61,593 .


Maybe they’re just leasing the place :greengrin

[inglisavhibs]

£3.25M in total from benefactors and that does not include the FOH donations.
They still owe budge etc 4m. That will not be a problem if they continue to receive 3.25m in donations.

[green with envy]

£3.25M in total from benefactors and that does not include the FOH donations.

I'm seriously thinking that Queen B is the benefactor.

[The 90+2]

I'm seriously thinking that Queen B is the benefactor.

Probably is and fair enough for putting her own money into the club. They always seem to land on their feet.

[Aldo]

They need money to finish floor 3 and floor 4 and some other essentials as part of one tier stand before even thinking abou that. Spurs stadium was built in much less time.

Indeed.

Bear in mind their staff costs are also up a tad from £2.2 million to over £8 million.

They needed the anonymous benefactors donations to post record profit??


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[MWHIBBIES]

They need money to finish floor 3 and floor 4 and some other essentials as part of one tier stand before even thinking abou that. Spurs stadium was built in much less time.

Spurs stadium was almost double the estimated price. It was a massive shambles, definitely not the best example.

[FilipinoHibs]

Profit of £ 2.9 million and no tax paid.

That’s because they are allowed to use the huge losses sustained during the Vlad years to offset any profit.

Doesn’t seem to matter that the debts created were written off , they can still use those losses to their advantage.

Profit if £2.9 million and anonymous donation if £3.25 million is an operating loss of £0.35 million.

[FilipinoHibs]

I'm seriously thinking that Queen B is the benefactor.

Agree. People don't repeatedly pump in money. They never appeared when the club needed saved. Defo Queen Bee.

[green with envy]

Probably is and fair enough for putting her own money into the club. They always seem to land on their feet.

If it is her, I wonder how sustainable it's going to last.

[The 90+2]

Profit if £2.9 million and anonymous donation if £3.25 million is an operating loss of £0.35 million.

Not if the money from the benefactors got calculated into the annual budget at the beginning of the year, they knew that additional money was there to play with, it’s not as if it’s covering shortfall.

[The 90+2]

If it is her, I wonder how sustainable it's going to last.

I wouldn’t imagine it will be forever, probably until the stand is complete and they laid a new pitch, then they will obviously reduce expenditures in their budget to go accordingly without any benefactor cash.

[CapitalGreen]

Hopefully our Ron puts in some money to match their Ron.

[inglisavhibs]

Agree. People don't repeatedly pump in money. They never appeared when the club needed saved. Defo Queen Bee.
Rumour is that it comes from the Roseberry Estate, one of the daughters is an ardent supporter. Note sure if it’s fact though.

[roo62]

Rumour is that it comes from the Roseberry Estate, one of the daughters is an ardent supporter. Note sure if it’s fact though.

I was sure it was mentioned on here a few years back that it was thought to be a group of Hearts supporting Baillie Gifford Fund Managers donating part of their massive bonuses to the cause. The company continues to prosper and these guys could still be contributing currently.

[CapitalGreen]

I was sure it was mentioned on here a few years back that it was thought to be a group of Hearts supporting Baillie Gifford Fund Managers donating part of their massive bonuses to the cause. The company continues to prosper and these guys could still be contributing currently.

London based Hearts supporter Ron Delnevo, former owner of Bank Machine Ltd, sold his business to global ATM company Cardtronics inc for around £27m 😉

[WhileTheChief..]

Not if the money from the benefactors got calculated into the annual budget at the beginning of the year, they knew that additional money was there to play with, it’s not as if it’s covering shortfall.

Agreed. They spent that money cause it was donated to them.

On Sportsound recently they talked about a donation being made to cover Naismith’s contract or something.

Don’t see the problem with it, they keep wasting whatever money they’ve got anyways.

[roo62]

Agreed. They spent that money cause it was donated to them.

On Sportsound recently they talked about a donation being made to cover Naismith’s contract or something.

Don’t see the problem with it, they keep wasting whatever money they’ve got anyways.


...lets hope Ron can give us the financial helping hand and his business expertise to have a successful and exciting next phase

[FilipinoHibs]

I was sure it was mentioned on here a few years back that it was thought to be a group of Hearts supporting Baillie Gifford Fund Managers donating part of their massive bonuses to the cause. The company continues to prosper and these guys could still be contributing currently.
That was all dismissed before. Baillie Gifford predominately recruits for senior positions from the upper middle classes who are more inclined to Rugby. Secondly, those donations would be a significant portion of any bonuses. To me it has to be Queen B to keep Hearts going and FOH money flowing in to ensure she gets her dough back. Plus there probably is a bit of face saving going on in her part. If you add up all the anonymous donations they are in the £20+ million range. That I think rules out Baillie Gifford or the Roseberry estate. The question I always ask on this is where was this money when Hearts needed saved. To me this points to Queen Bee as the source of the funds. She can use a Special purpose vehicle to hide where the money came from. The old adage you can make a small fortune out of football club ownership but you have to start with a large or medium sized fortune.

[Rumble de Thump]

Agreed. They spent that money cause it was donated to them.

On Sportsound recently they talked about a donation being made to cover Naismith’s contract or something.

Don’t see the problem with it, they keep wasting whatever money they’ve got anyways.

If this was the case, Anne Budge would have told everyone. That being the case, why do we have people on hibs.net inventing it and passing it off as fact?

[roo62]

That was all dismissed before. Baillie Gifford predominately recruits for senior positions from the upper middle classes who are more inclined to Rugby. Secondly, those donations would be a significant portion of any bonuses. To me it has to be Queen B to keep Hearts going and FOH money flowing in to ensure she gets her dough back. Plus there probably is a bit of face saving going on in her part. If you add up all the anonymous donations they are in the £20+ million range. That I think rules out Baillie Gifford or the Roseberry estate. The question I always ask on this is where was this money when Hearts needed saved. To me this points to Queen Bee as the source of the funds. She can use a Special purpose vehicle to hide where the money came from. The old adage you can make a small fortune out of football club ownership but you have to start with a large or medium sized fortune.
Just how wealthy is Ann Budge though?

[Eyrie]

They still owe budge etc 4m. That will not be a problem if they continue to receive 3.25m in donations.

Is she still charging them 6.2% interest on her loan?

[Hibs4185]

Staff costs up £6 million, turnover up £3 million.

The accounts are terrible. Mutton dressed as lamb yet the yams lap it up

[FilipinoHibs]

If this was the case, Anne Budge would have told everyone. That being the case, why do we have people on hibs.net inventing it and passing it off as fact?

Think a lot of trolls trying to pass the money off from other people- Baillue Gifford, Roseberry Estate etc.

[FilipinoHibs]

Just how wealthy is Ann Budge though?

Around £40 million before the Hearts takeover. According to various newspaper sources.

[greenginger]

Around £40 million before the Hearts takeover. According to various newspaper sources.

Her company , Newell and Budge , was sold for around the £ 40 million mark but she only owned just under 60% of the shares according to Companies House returns.

Can’t see why she would take interest on her loan, pay tax to HMRC , and then make much larger donations back to the Club. Don’t make sense.

I don’t think Budge is the mystery money supplier, but other than an anonymous lottery jackpot winner, I can’t see anyone with millions to throw away.

[CapitalGreen]

Her company , Newell and Budge , was sold for around the £ 40 million mark but she only owned just under 60% of the shares according to Companies House returns.

Can’t see why she would take interest on her loan, pay tax to HMRC , and then make much larger donations back to the Club. Don’t make sense.

I don’t think Budge is the mystery money supplier, but other than an anonymous lottery jackpot winner, I can’t see anyone with millions to throw away.

vvv


London based Hearts supporter Ron Delnevo, former owner of Bank Machine Ltd, sold his business to global ATM company Cardtronics inc for around £27m 😉

[SMAXXA]

Maybe a daft question but why can they get away with non disclosure of the beneficiary source surely from a money laundering perspective they would have to disclose the source of the funds?

[CapitalGreen]

Maybe a daft question but why can they get away with non disclosure of the beneficiary source surely from a money laundering perspective they would have to disclose the source of the funds?

Who says they haven’t disclosed it anywhere, they just haven’t made it put the information in the public domain. Their auditors Johnston Carmichael know the source of that income.

[Greenworld]

Who says they haven’t disclosed it anywhere, they just haven’t made it put the information in the public domain. Their auditors Johnston Carmichael know the source of that income.Rumour is it is Bailly Gifford directors

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[Greenworld]

Hi


I don’t know what it’s for but note 29 of their accounts says they have operating lease commitments of over £ 2.5 million , last year our lease commitments were £ 61,593 .


Maybe they’re just leasing the place :greengrinCould that be heriot watt?

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[Greenworld]

If you take away the donations they're showing a £400k loss, that's despite the SC run and their much vaunted (on here) commercial income.

Once a bunch of scrounging losers always a bunch of scrounging losers.It's not great is it bottom of the leugue with record income and record expenditure we know how that ends up

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[Weegreenman]

Couldn’t really care less about them or how their finances are tbh.

We need them and they need us. No hatred, just a healthy rivalry. I don’t want to see them in any financial trouble and I’d hate to see them relegated.
Without an Edinburgh derby, we have very little to look forward to.

I don’t even mind some of their supporters. I have a healthy banter with many of them that I consider to be good friends.

[FilipinoHibs]

Rumour is it is Bailly Gifford directors

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See above for reasons I don't it is them.

[FilipinoHibs]

Maybe a daft question but why can they get away with non disclosure of the beneficiary source surely from a money laundering perspective they would have to disclose the source of the funds?

If not from director they don't need to disclose. But can use a special purpose vehicle to wash the money through to hide real source.

[FilipinoHibs]

Her company , Newell and Budge , was sold for around the £ 40 million mark but she only owned just under 60% of the shares according to Companies House returns.

Can’t see why she would take interest on her loan, pay tax to HMRC , and then make much larger donations back to the Club. Don’t make sense.

I don’t think Budge is the mystery money supplier, but other than an anonymous lottery jackpot winner, I can’t see anyone with millions to throw away.

She also had remuneration for many years as owner and then chief executive. That would be at least a big six figure sum for those years.

[green day]

Their numbers are good in some places, desperately poor in others.




Commercial income is up a lot - very positive
Money in (all sources) is up - positive
Salaries are up - ?
Donations from sources other than FoH - This is the one which needs scrutiny, and is possibly why they released these figures just ahead of the international break.


Without donations from FoH and Anonymous, Hearts would have made a considerable loss - even allowing for the very positive commercial income figures.

Any business so reliant on donations isnt being run as a business (more like a charity) and they have a massive problem if these donations dont arrive year on year as they are now reliant on them.

Same old Hearts, hubris and ego come first and second in the list and well above being run as a viable going concern. It is not that far away from how Rangers are currently running their business.

[cocteautwin]

For me the stand out number in the accounts is the low cash balance of just £591k. Normally at this time of the year cash balances should be high due to season ticket income. Indeed, the deferred income figure in their accounts is showing a number of £5.2m which one can assume is all season ticket money for the coming 19/20 season. As a comparison Hibs normal cash balance around the end of June is £4m.

It looks like HMFC have spent most of their season ticket money before the season even started.

Either HMFC are on the verge of bankruptcy or they are expecting another big multi million £ contribution from their anonymous donor after the date of the accounts.

[Davy Mac]

Not had a chance to read the thread all the way through but the donations are coming from the Rockstar guys are they not?

Turns up to the board meetings dressed rather too casually for Queen Budge's liking from what I'm told ;-)

[cocteautwin]

Not had a chance to read the thread all the way through but the donations are coming from the Rockstar guys are they not?

Turns up to the board meetings dressed rather too casually for Queen Budge's liking from what I'm told ;-)

Whoever it/they is/are, I wonder if they feel they are getting value for money for the £10m+ he's/they've pumped in to the club so far?

I wonder if FoH feel they are getting value for their £10m+ they've pumped to the club so far?

[Aldo]

See above for reasons I don't it is them.

Could be anyone but if it is it will be their own money, not companies!


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[FilipinoHibs]

Not had a chance to read the thread all the way through but the donations are coming from the Rockstar guys are they not?

Turns up to the board meetings dressed rather too casually for Queen Budge's liking from what I'm told ;-)

Thought the Rockstar where sympathetic to Hibs why all the references to Leith and good gang in green.

They were founded in Dundee from people born there. Highly unlikely to be Hearts fans.

Is this a wind up or a bit of trolling?

[lucky]

They are making a massive loss but very rich fans keep donating to them. But there must be questions over this. Where does this sit with the financial fair play rules? If it’s ok to donate, why do City or PSG get fined for this, never mind overspending English Championship clubs?
Also if they are spending this sort of money, how the **** has Levein managed to get such a crap side playing so badly for so long. Obviously some strange goings on at the PBS

[04Sauzee]

They are making a massive loss but very rich fans keep donating to them. But there must be questions over this. Where does this sit with the financial fair play rules? If it’s ok to donate, why do City or PSG get fined for this, never mind overspending English Championship clubs?
Also if they are spending this sort of money, how the **** has Levein managed to get such a crap side playing so badly for so long. Obviously some strange goings on at the PBS
We don't have financial fair play rules in Scotland

[where'stheslope]

I read through the week that if they were to go for Robinson, the money for his services and payment to Motherwell would be covered by an invisible investor????

[zitelli62]

Who cares we've got Ron Gordon I think in time he will prove to be a great owner.

[green day]

I read through the week that if they were to go for Robinson, the money for his services and payment to Motherwell would be covered by an invisible investor????

Maybe anonymous, not so much invisible?

[Since90+2]

She also had remuneration for many years as owner and then chief executive. That would be at least a big six figure sum for those years.

I don't thinks she takes a salary does she?

[FilipinoHibs]

I don't thinks she takes a salary does she?

Talking about her time with her IT company.

[CMurdoch]

Couldn’t really care less about them or how their finances are tbh.

We need them and they need us. No hatred, just a healthy rivalry. I don’t want to see them in any financial trouble and I’d hate to see them relegated.
Without an Edinburgh derby, we have very little to look forward to.

I don’t even mind some of their supporters. I have a healthy banter with many of them that I consider to be good friends.

Lots of sense in this post.
Their new stand has been money well spent. Simply had to build it.
Where they have wasted a fortune has been numerous player contracts handed out by 2 poor managers for little return.
Had they kept Nielson in charge and got rid of the director of football instead they would be in a much better position financially.

Lucky for them the FOH money will keep rolling in well after the donations dry up.
However, they need the right manager and would suggest that all the current candidates are not that person. I would have been horrified had any of them been signed up by Hibs instead of Jack Ross (best signing we could have managed and completed in less than 2 weeks!). If they get this wrong they will continue to waste money and under perform for the level of money spent but they are stable financially.

[WhileTheChief..]

That was all dismissed before. Baillie Gifford predominately recruits for senior positions from the upper middle classes who are more inclined to Rugby. Secondly, those donations would be a significant portion of any bonuses. To me it has to be Queen B to keep Hearts going and FOH money flowing in to ensure she gets her dough back. Plus there probably is a bit of face saving going on in her part. If you add up all the anonymous donations they are in the £20+ million range. That I think rules out Baillie Gifford or the Roseberry estate. The question I always ask on this is where was this money when Hearts needed saved. To me this points to Queen Bee as the source of the funds. She can use a Special purpose vehicle to hide where the money came from. The old adage you can make a small fortune out of football club ownership but you have to start with a large or medium sized fortune.

Where do you get these weird ideas from? Same as your generalisations about all American businessmen?

[Wembley67]

Where do you get these weird ideas from? Same as your generalisations about all American businessmen?

Exactly, it's poppycock. I'm well placed to comment as I've worked at Baillie Gifford for over 20 years! They recruit due to a proven track record like all good employers do.

[Steve88]

Couldn't care. Lets just finish above them!!

[Davy Mac]

Thought the Rockstar where sympathetic to Hibs why all the references to Leith and good gang in green.

They were founded in Dundee from people born there. Highly unlikely to be Hearts fans.

Is this a wind up or a bit of trolling?

What do you mean trolling? Gies a break FFS

[CMurdoch]

Exactly, it's poppycock. I'm well placed to comment as I've worked at Baillie Gifford for over 20 years! They recruit due to a proven track record like all good employers do.

that puts that particular rave firmly in the box :faf:

[Wembley67]

that puts that particular rave firmly in the box :faf:

???

[tamig]

Lots of sense in this post.
Their new stand has been money well spent. Simply had to build it.
Where they have wasted a fortune has been numerous player contracts handed out by 2 poor managers for little return.
Had they kept Nielson in charge and got rid of the director of football instead they would be in a much better position financially.

Lucky for them the FOH money will keep rolling in well after the donations dry up.
However, they need the right manager and would suggest that all the current candidates are not that person. I would have been horrified had any of them been signed up by Hibs instead of Jack Ross (best signing we could have managed and completed in less than 2 weeks!). If they get this wrong they will continue to waste money and under perform for the level of money spent but they are stable financially.
I think your comment on the stand is questionable. I’m sure that stand - with the same facilities - could have been delivered on time and at a fraction of the cost had the project been managed in even a half decent manner. They have wasted a load of cash on it.

[Bostonhibby]

I think your comment on the stand is questionable. I’m sure that stand - with the same facilities - could have been delivered on time and at a fraction of the cost had the project been managed in even a half decent manner. They have wasted a load of cash on it.[emoji106]

Money... .. and. .... spent.

Not finished yet but there's nothing like it. Contractors dream.


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[jacomo]

I think your comment on the stand is questionable. I’m sure that stand - with the same facilities - could have been delivered on time and at a fraction of the cost had the project been managed in even a half decent manner. They have wasted a load of cash on it.


Not only have they spent a load of money on it but it’s awful - ugly, tethered to the decaying other stands and of course not quite as BIG as they would have hoped.

The project is an absolute disaster.

[Eyrie]

[emoji106]

Money... .. and. .... spent.

Not finished yet but there's nothing like it. Contractors dream.


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You make it sound like an IT contract :wink:

[FilipinoHibs]

Exactly, it's poppycock. I'm well placed to comment as I've worked at Baillie Gifford for over 20 years! They recruit due to a proven track record like all good employers do.

At the lower levels that may be the case. But at the higher levels and those likely to be partners who have the money to make large donations that is not the case. I had a friend who had an excellent track record in Scotland and London and did not even get a reply to an application. He went on to be a director at one of the major global investment houses. I know of another who was hired and at best competent but comes from an upper class family with large business interests and was hired. Baillie Giffird is an old school investment company both in style and those at the top.

Here is an insider's view:
https://www.glassdoor.com/Reviews/Employee-Review-Baillie-Gifford-RVW6330365.htm

[Wembley67]

At the lower levels that may be the case. But at the higher levels and those likely to be partners who have the money to make large donations that is not the case. I had a friend who had an excellent track record in Scotland and London and did not even get a reply to an application. He went on to be a director at one of the major global investment houses. I know of another who was hired and at best competent but comes from an upper class family with large business interests and was hired. Baillie Giffird is an old school investment company both in style and those at the top.

Here is an insider's view:
https://www.glassdoor.com/Reviews/Employee-Review-Baillie-Gifford-RVW6330365.htm

I'm not going to argue with you on this. I know the structure and know the staff well, what you say may very well have happened but generally it's based on track record. They clearly know what they are doing with their performance history so who are we to say anything 😁

Ps glass door reviews are generally written by students on summer placement for 2 months

I actually just read that link and I can guarantee that is not true. We have never had as many female partners as we do now, with also many as Directors of the firm. Also that was a very selective link to put in.

[cocteautwin]

[emoji106]

Money... .. and. .... spent.

Not finished yet but there's nothing like it. Contractors dream.


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It’s an ongoing dream for the Budge family member. They’ve raked in £6m+ so far which is more than Hibs spent on the entire East stand. Not bad work for a lick of paint and a few logo transfers.


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[CMurdoch]

???

not often that someone is on hand to refute a statement made on here from such a position of knowledge i.e. your 20 plus years at the company concerned.

[CMurdoch]

I think your comment on the stand is questionable. I’m sure that stand - with the same facilities - could have been delivered on time and at a fraction of the cost had the project been managed in even a half decent manner. They have wasted a load of cash on it.

The stand will serve them for many many years but the vast amount of money spent on the wages for large numbers of poor players and management was and is still being pissed down the drain by them for little return. Trying to put their new stand up too quickly resulted in them making mistakes and wasting money but that will be forgotten in time (other than by folk on here obviously). I thought they should have moved to Murrayfield for the first half of the season but that would have had cost implications for them as well. They tried to cut corners and built in little contingency to their building timetable and it cost them.

[FilipinoHibs]

not often that someone is on hand to refute a statement made on here from such a position of knowledge i.e. your 20 plus years at the company concerned.

I have 35 years in the industry. I have worked with Baillie Gifford many times. I have given two personal experiences of recruitment by them at a senior level. I have also had contact with many partners there. They typically come from the same milieu of privately educated, top universities and male. If you examine the partner list that is what the major of their backgrounds are like. They are unlikely to be football fans or willing to part with a significant portion of their bonuses to give anonymously to Hearts with no control over how the money us spent.

The reviewer had more than 1 year's experience at Baillie Gifford. Look across all the reviews for the company and you will get a similar them of a posh non diversified partnership with unequal income and bonus distribution.

[Chuck Rhoades]

At the lower levels that may be the case. But at the higher levels and those likely to be partners who have the money to make large donations that is not the case. I had a friend who had an excellent track record in Scotland and London and did not even get a reply to an application. He went on to be a director at one of the major global investment houses. I know of another who was hired and at best competent but comes from an upper class family with large business interests and was hired. Baillie Giffird is an old school investment company both in style and those at the top.

Here is an insider's view:
https://www.glassdoor.com/Reviews/Employee-Review-Baillie-Gifford-RVW6330365.htm

Thanks for the story. Remind me of what relevance it has to the subject matter please?

[FilipinoHibs]

Thanks for the story. Remind me of what relevance it has to the subject matter please?

It is refuting the story that Baillie Gifford partners are the anonymous Hearts donors.

[NAE NOOKIE]

The bottom line here is that year on year Hearts keep the accounts balanced, even in minor profit, thanks to 'donations' from undisclosed sources. There's nothing wrong with that on the face of it, any club would be mental to turn down free money ... but how long can that situation continue? If and when these 'donations' end what then? ... Because clearly they are not generating enough income from football, commercial sources and FOH to sustain even the way they are being run just now and the lack of success that has brought them. As another poster said, a fair case can be made that Hearts are more a charity case than a well run business.

As for the new stand .... If you ask me its a project the end result of which Hearts will live to regret. The vanity of believing your own publicity vis a vis their alleged 'unique atmosphere' led them to build a stand of far less capacity than they could have had in order to keep the claustrophobic feel of the stadium ... I'm willing to guess that for less money than they have spent they could have had a two tier stand with an 8000 capacity and at the end of the day no amount of corporate can bring in the same amount of money as bums on seats.

In context: Aberdeen are in the process of planning a brand new 20,000 capacity stadium and their own state of the art training facility for 50 million quid, which puts into perspective what Hearts have got for half that and counting.

[Springbank]

The bottom line here is that year on year Hearts keep the accounts balanced, even in minor profit, thanks to 'donations' from undisclosed sources. There's nothing wrong with that on the face of it, any club would be mental to turn down free money ... but how long can that situation continue? If and when these 'donations' end what then? ... Because clearly they are not generating enough income from football, commercial sources and FOH to sustain even the way they are being run just now and the lack of success that has brought them. As another poster said, a fair case can be made that Hearts are more a charity case than a well run business.

As for the new stand .... If you ask me its a project the end result of which Hearts will live to regret. The vanity of believing your own publicity vis a vis their alleged 'unique atmosphere' led them to build a stand of far less capacity than they could have had in order to keep the claustrophobic feel of the stadium ... I'm willing to guess that for less money than they have spent they could have had a two tier stand with an 8000 capacity and at the end of the day no amount of corporate can bring in the same amount of money as bums on seats.

In context: Aberdeen are in the process of planning a brand new 20,000 capacity stadium and their own state of the art training facility for 50 million quid, which puts into perspective what Hearts have got for half that and counting.

Agreed.

Like you there are 2 comments on this page of the thread that I've been surprised to see...

1) hearts stand is value for money (I think the *idea* of a stand was good but not the one they built)
And
2) that their stand will serve them well for years to come.

I doubt it will be cause of the fact it is tethered to those other 3 stands, effectively making it an expensive adjunct of an ageing decaying structure
My hunch is by 2025 the remedial work on the other 3 stands will make their new stand look like a bad call, and an expensive one

[BILLYHIBS]

Might be starting to look a bit neglected but I love our stadium

Much better than the PBS and debt free

Cannae beat a full Easter Road under the lights

[ancient hibee]

It is refuting the story that Baillie Gifford partners are the anonymous Hearts donors.

It’s not refuting anything.It’s giving your opinion on the type of person that runs Baillie Gifford.

[HUTCHYHIBBY]

I read through the week that if they were to go for Robinson, the money for his services and payment to Motherwell would be covered by an invisible investor????

I cannae see it! 😉

[May21/05/16]

Jk Rowlings husband

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[Since452]

Might be starting to look a bit neglected but I love our stadium

Much better than the PBS and debt free

Cannae beat a full Easter Road under the lights

Yup. They could only dream of having a stadium as good as Easter Road