Deferred Wages

[Stuart93]

Can’t see a thread on this.

Hibs are to start repaying players their deferred wages. Can’t imagine that’ll be easy on finances when the situation hasn’t changed much.

Good to see that’s the players being paid back though

[Peevemor]

Can’t see a thread on this.

Hibs are to start repaying players their deferred wages. Can’t imagine that’ll be easy on finances when the situation hasn’t changed much.

Good to see that’s the players being paid back though

It obviously won't be easy but they knew it was coming so provision will have been made.

[Jones28]

We’ll have built it in to the budget. That’s one of the reasons being Hibs fan is just better, we’ve not had to worry about finance for a long time. Probably 20 of years since things looked unstable.

[Renfrew_Hibby]

Can’t see a thread on this.

Hibs are to start repaying players their deferred wages. Can’t imagine that’ll be easy on finances when the situation hasn’t changed much.

Good to see that’s the players being paid back though

Im sure i cought a bit yesterday that the Scottish Government is due to announce support funding for Scottish sport today and in total it should be somewhere north of £30M.
Grants will be awarded to all manner of organizations with loans to top flight football clubs and the two professional rugby sides.
Im sure that will bridge any wage deferral costs for us thought being a loan, that itself will have to be paid somewhere down the line.
As an aside Hearts will be eligible for a grant but Hamilton for example will only be eligible for a loan... surely thats not fair!

[Jones28]

Im sure i cought a bit yesterday that the Scottish Government is due to announce support funding for Scottish sport today and in total it should be somewhere north of £30M.
Grants will be awarded to all manner of organizations with loans to top flight football clubs and the two professional rugby sides.
Im sure that will bridge any wage deferral costs for us thought being a loan, that itself will have to be paid somewhere down the line.
As an aside Hearts will be eligible for a grant but Hamilton for example will only be eligible for a loan... surely thats not fair!


Thats lunacy, it should be on a case-by-case basis. Hearts netting millions in contributions from supporters and Anderson, Hamilton scrape the barrel as usual - along with other smaller sides - and are only eligible for a loan?

[Broken Gnome]

Have we possibly made more back office redundancies to help cater for this? Know of at least one.

[green day]

Thats lunacy, it should be on a case-by-case basis. Hearts netting millions in contributions from supporters and Anderson, Hamilton scrape the barrel as usual - along with other smaller sides - and are only eligible for a loan?

I imagine that it is based on the league teams are playing in.

I am sure that Hearts will do the right thing and give it back to be directed to a more deserving club.........................

[h1bs4life]

Can’t see a thread on this.

Hibs are to start repaying players their deferred wages. Can’t imagine that’ll be easy on finances when the situation hasn’t changed much.

Good to see that’s the players being paid back though


Good news all round . Players getting money due just before Christmas and hopefully an indicator that although our finances will be bad
maybe not as bad as some thought.

[PatHead]

I heard we have received an interim payment from Aviva for our salary insurance. That would help the cashflow.

[Peevemor]

Have we possibly made more back office redundancies to help cater for this? Know of at least one.

It doesn't look like there are going to be any normal attendances at matches this season. While it was always a risk, nobody really expected that to be the case when plans were being made last summer.

If there are to be further redundancies I don't think it's specifically to do with the starting to settle the deferred wages, but simply due to the ongoing lack of income.

[CropleyWasGod]

Im sure i cought a bit yesterday that the Scottish Government is due to announce support funding for Scottish sport today and in total it should be somewhere north of £30M.
Grants will be awarded to all manner of organizations with loans to top flight football clubs and the two professional rugby sides.
Im sure that will bridge any wage deferral costs for us thought being a loan, that itself will have to be paid somewhere down the line.
As an aside Hearts will be eligible for a grant but Hamilton for example will only be eligible for a loan... surely thats not fair!

Do you mean "eligible to apply"?

[Broken Gnome]

It doesn't look like there are going to be any normal attendances at matches this season. While it was always a risk, nobody really expected that to be the case when plans were being made last summer.

If there are to be further redundancies I don't think it's specifically to do with the starting to settle the deferred wages, but simply due to the ongoing lack of income.

The lack of income was the reason I was told, but the extra pressures from the deferred payments likely force the decision I'd imagine.

Not ideal, but I think we'd all back the football side of things taking priority.

[green day]

The lack of income was the reason I was told, but the extra pressures from the deferred payments likely force the decision I'd imagine.

Not ideal, but I think we'd all back the football side of things taking priority.

We knew months ago we had to pay these, so unlikely as this was factored in already.

The explanation - lack of income for the remainder of the season - as you have been told seems about right.

[Renfrew_Hibby]

Do you mean "eligible to apply"?

I probably do...

[ancient hibee]

I think it’s only half the deferred amount being paid back now. The other half next year.

[CropleyWasGod]

I probably do...

That would make more sense.

I can't see grants being made to the likes of Hearts over, say, Albion Rovers. Like any grant-awarding process, they will have to show a need.

[The Modfather]

Think I’ll wait and get my deferred wages update from the informed financial wizards on kickback thank you very much.

Tick Tock etc

[Jones28]

Have any of the news outlets that reported Hibs facing 70 redundancies retracted their comments or issued an apology for spreading disinformation yet?

[where'stheslope]

With the vaccine being rolled out, but the timescale of getting everyone done, it looks like this season will be played out to minimal crowds!!!
For the clubs who were promoted and the one's who could be relegated at the end of this season, it could easily mean shutting down permanently?
Imagine having to take a Government loan to make ends meet, only to be relegated and have to pay it back in the championship!!!
My thinking is changing the league structure to avoid this, but, maybe it should have been done this season, as now it would look like Hearts and Partick were on the right track????

[CropleyWasGod]

With the vaccine being rolled out, but the timescale of getting everyone done, it looks like this season will be played out to minimal crowds!!!
For the clubs who were promoted and the one's who could be relegated at the end of this season, it could easily mean shutting down permanently?
Imagine having to take a Government loan to make ends meet, only to be relegated and have to pay it back in the championship!!!
My thinking is changing the league structure to avoid this, but, maybe it should have been done this season, as now it would look like Hearts and Partick were on the right track????

It could still be done :greengrin

[Billy Whizz]

That would make more sense.

I can't see grants being made to the likes of Hearts over, say, Albion Rovers. Like any grant-awarding process, they will have to show a need.

And Hearts just reported a profit, so do they need it😎

[hibbysam]

That would make more sense.

I can't see grants being made to the likes of Hearts over, say, Albion Rovers. Like any grant-awarding process, they will have to show a need.

Even then, the grants will be far smaller than the loans will be. £20m for 12 clubs vs £10m for >32 clubs. Whether it needs paid back or not isn’t really the point, I’d rather hibs had access to far greater sums to negate our losses, even if it meant being paid back when we are back earning more money, than get very little for nothing.