"Our family, we love this club"

[theonlywayisup]

"We live and breathe this club, and my father felt that same way! And obviously through the passing of my dad, we felt that it was the right thing to do to continue this. I'm still a young guy, and my brother and I are wanting to carry the torch for my father. We love everything about this club and my mom, so it's something we're fully committed to."

Quote from Ian Gordon.

Regarding the £7m donation, Ian Gordon stated “No, this is just a donation. We've made donations of that size in the past, so it's something that shows our family's commitment and our drive. Now we're so excited with the partnership with Black Knight that we're more committed than ever to continuing to move forward.”

Admitting that there is an aim to make the club self-financing, Gordon – flanked by Black Knight Football Group president Tim Bezbatchenko - confessed: “Yes, I think that would always be the goal, but we're also well aware we're in the football industry and we know the revenues associated with Scottish football aren't the highest. We know the situation, we're accepting of it, but obviously we want to improve that financial position. “We know mistakes have been made. But we've learned so many lessons along that way, with the guidance of someone like Tim to help mentor me but also help us make better decisions moving forward. I think we're in a really good spot.”

I must say that I was very impressed by Ian Gordon, Philippa Lombardi (Finance Director) and Malky Mackay last night. I thought there was a confidence about the way that they explained each area covered by the presentation.

[overdrive]

"We live and breathe this club, and my father felt that same way! And obviously through the passing of my dad, we felt that it was the right thing to do to continue this. I'm still a young guy, and my brother and I are wanting to carry the torch for my father. We love everything about this club and my mom, so it's something we're fully committed to."

Quote from Ian Gordon.

Regarding the £7m donation, Ian Gordon stated “No, this is just a donation. We've made donations of that size in the past, so it's something that shows our family's commitment and our drive. Now we're so excited with the partnership with Black Knight that we're more committed than ever to continuing to move forward.”

Admitting that there is an aim to make the club self-financing, Gordon – flanked by Black Knight Football Group president Tim Bezbatchenko - confessed: “Yes, I think that would always be the goal, but we're also well aware we're in the football industry and we know the revenues associated with Scottish football aren't the highest. We know the situation, we're accepting of it, but obviously we want to improve that financial position. “We know mistakes have been made. But we've learned so many lessons along that way, with the guidance of someone like Tim to help mentor me but also help us make better decisions moving forward. I think we're in a really good spot.”

I must say that I was very impressed by Ian Gordon, Philippa Lombardi (Finance Director) and Malky Mackay last night. I thought there was a confidence about the way that they explained each area covered by the presentation.

Agree on your last paragraph. I’m not IG’s biggest fan but that was the most impressed I’ve been with him. I think the other two, Lombardi and Mackay are a big part of that. I get the impression they’ve knocked a hard dose of reality into him. Lombardi, in particular came across as someone who would stand her ground on what she believes the right thing to do is. I know Mackay joked that he was scared of getting phone calls from her calling him Mr Spendy but I got the impression that the two of them had a good working relationship and were singing from the same hymn sheet.

[Jones28]

Hopefully that will put to bed any worries about them pulling out.

Good stuff.

[CallumLaidlaw]

Agree on your last paragraph. I’m not IG’s biggest fan but that was the most impressed I’ve been with him. I think the other two, Lombardi and Mackay are a big part of that. I get the impression they’ve knocked a hard dose of reality into him. Lombardi, in particular came across as someone who would stand her ground on what she believes the right thing to do is. I know Mackay joked that he was scared of getting phone calls from her calling him Mr Spendy but I got the impression that the two of them had a good working relationship and were singing from the same hymn sheet.

I would not want to get on her bad side [emoji23]


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[babahibs]

It seems to me that lessons have been learnt, changes have been made and we're all pulling together in the right direction.
Is it a coincidence that results on the pitch have improved?

[overdrive]

I would not want to get on her bad side [emoji23]


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Me neither. :greengrin

I don't know how others viewed her but she kind of came across as having some of the better attributes of both Petrie and Dempster about her. I doubt she's up for the job at the moment, and this is based purely on first impressions of her last night but I wouldn't be against them "grooming" her to be a future CEO. Straight talking. No bull****. No trying to polish a turd. Happy to give praise where it is due. Explained why she couldn't get into more detail where relevant (e.g. the sponsorship legal case). I don't think she'd suffer fools gladly. Seemd to have a good grasp of the "football industry". My only criticism is that I thought at some points she came across as a bit of a nervous presenter (especially compared to her predecessor, Chris Gaunt) but not in the league of what IG used to be like (or even still is a bit) - and it was her first Hibs AGM to be fair.

[Dmas]

Me neither. :greengrin

I don't know how others viewed her but she kind of came across as having some of the better attributes of both Petrie and Dempster about her. I doubt she's up for the job at the moment, and this is based purely on first impressions of her last night but I wouldn't be against them "grooming" her to be a future CEO. Straight talking. No bull****. No trying to polish a turd. Happy to give praise where it is due. Explained why she couldn't get into more detail where relevant (e.g. the sponsorship legal case). I don't think she'd suffer fools gladly. Seemd to have a good grasp of the "football industry". My only criticism is that I thought at some points she came across as a bit of a nervous presenter (especially compared to her predecessor, Chris Gaunt) but not in the league of what IG used to be like (or even still is a bit) - and it was her first Hibs AGM to be fair.

I read about this legal matter in the observer piece, what is it?

[Niffy]

"We live and breathe this club, and my father felt that same way! And obviously through the passing of my dad, we felt that it was the right thing to do to continue this. I'm still a young guy, and my brother and I are wanting to carry the torch for my father. We love everything about this club and my mom, so it's something we're fully committed to."

Quote from Ian Gordon.

Regarding the £7m donation, Ian Gordon stated “No, this is just a donation. We've made donations of that size in the past, so it's something that shows our family's commitment and our drive. Now we're so excited with the partnership with Black Knight that we're more committed than ever to continuing to move forward.”

Admitting that there is an aim to make the club self-financing, Gordon – flanked by Black Knight Football Group president Tim Bezbatchenko - confessed: “Yes, I think that would always be the goal, but we're also well aware we're in the football industry and we know the revenues associated with Scottish football aren't the highest. We know the situation, we're accepting of it, but obviously we want to improve that financial position. “We know mistakes have been made. But we've learned so many lessons along that way, with the guidance of someone like Tim to help mentor me but also help us make better decisions moving forward. I think we're in a really good spot.”

I must say that I was very impressed by Ian Gordon, Philippa Lombardi (Finance Director) and Malky Mackay last night. I thought there was a confidence about the way that they explained each area covered by the presentation.

I like that, we've heard a lot of people say the right things over the years, but that sounds sincere.

[HibsGW]

Hard to argue with any of that and sounds like all the right type of messaging, hopefully we put it into action successfully in terms of the self-financing bit. Also good to see acknowledgement that mistakes have been made. Onwards and upwards.

[overdrive]

I read about this legal matter in the observer piece, what is it?

One of our sponsors went bust in the last financial year and as a result has defaulted on part of the money due to us (over £1.1m). I'm still not 100% sure who the company was (suggestions it was maybe Terry Healy Group, though someone who asked a question about it suggested Sportemon Go - though I think they went bust a lot earlier than the period we are talking). The club are pursuing legal action to try to recover some of the money from the liquidators. The note in the accounts about it suggests legal advice is that it is unlikely to be recovered. As a result a provision in the accounts for that amount has been made. In other words, £1.1m of the loss is as a result of this. We may get some of it back in the future but it looks unlikely.

Edit: Lombardi said it was one of the first things she had to deal with when she got into post and was shocked at the lack of checks and due diligence that the club was doing on some of these commercial deals. She's implemented a more robust process and controls to try to prevent something similar happening in the future. Presumably, running these deals past the finance team first and doing some checks on the company accounts, etc. Think she mentioned some of the wording of the contracts was a bit ambiguous as well.

[Ribs1875]

I'd love to know how we ended up in such a deficit. Lee Johnson and Nick Montgomery pay off surely would not have been a significant dent out the budget.

Fair play to them covering the loss, but it's equally concerning when the BKG injected 6 mil into us not so long ago. Hopefully the outgoing players in the summer will free up wages and we can start living within our means again.

[Paulie Walnuts]

I'd love to know how we ended up in such a deficit. Lee Johnson and Nick Montgomery pay off surely would not have been a significant dent out the budget.

Fair play to them covering the loss, but it's equally concerning when the BKG injected 6 mil into us not so long ago. Hopefully the outgoing players in the summer will free up wages and we can start living within our means again.
The sackings of the two of them would have been <5% of the losses incurred. Sacking the two of them had little impact on the losses we made.

[overdrive]

I'd love to know how we ended up in such a deficit. Lee Johnson and Nick Montgomery pay off surely would not have been a significant dent out the budget.

Fair play to them covering the loss, but it's equally concerning when the BKG injected 6 mil into us not so long ago. Hopefully the outgoing players in the summer will free up wages and we can start living within our means again.

The BKG money is not an item on the Profit and Loss account so isn't part of the loss (aside from any depreciation from capital works funded by those funds). She said the combined pay offs were a "high six figure sum" - so, you are right that is not a major cause of a loss of such magnitude.

I've mentioned on here before that I think in recent years that we have been overly optimistic in our forecasting and budgeting assumptions. From what she said, quite diplomatically, it seems that is probably a major part of the issue here. In terms of forecasting, "I'm more prudent on the income side and more cautious on the expenditure side" is what she said (or a paraphrase of it) both in her presentation and in answering the question I was going to ask but someone got in first around WTF went on between BK saying last year at the AGM that everything is barry for 23/24 and it not being barry at year end.

[Donegal Hibby]

"We live and breathe this club, and my father felt that same way! And obviously through the passing of my dad, we felt that it was the right thing to do to continue this. I'm still a young guy, and my brother and I are wanting to carry the torch for my father. We love everything about this club and my mom, so it's something we're fully committed to."

Quote from Ian Gordon.

Regarding the £7m donation, Ian Gordon stated “No, this is just a donation. We've made donations of that size in the past, so it's something that shows our family's commitment and our drive. Now we're so excited with the partnership with Black Knight that we're more committed than ever to continuing to move forward.”

Admitting that there is an aim to make the club self-financing, Gordon – flanked by Black Knight Football Group president Tim Bezbatchenko - confessed: “Yes, I think that would always be the goal, but we're also well aware we're in the football industry and we know the revenues associated with Scottish football aren't the highest. We know the situation, we're accepting of it, but obviously we want to improve that financial position. “We know mistakes have been made. But we've learned so many lessons along that way, with the guidance of someone like Tim to help mentor me but also help us make better decisions moving forward. I think we're in a really good spot.”

I must say that I was very impressed by Ian Gordon, Philippa Lombardi (Finance Director) and Malky Mackay last night. I thought there was a confidence about the way that they explained each area covered by the presentation.

From the time Ron Gordon bought the club I didn’t think Petrie, Farmer would have just sold the club to anyone and they knew that Ron had the club’s best interests at heart , like anything in life , nothing runs smoothly and mistakes will be made …

I think it was clear though with the improvements made in the hospitality, stadium etc under Ron’s reign he did a vision to improve all aspects of the club , unfortunately he didn’t get the chance to see this through with his untimely passing …

As sad as Ron’s passing was I think this has further created the bound ( love ) the rest of the Gordon family have for the club and them covering the losses further strengthens the argument about their commitment to the football club …

In truth I think we could have far worse owners than the Gordon’s who I think are good people and my hopes are that with the partnership with the BK’s we are now on a better path moving forward.

[HUTCHYHIBBY]

Hopefully that will put to bed any worries about them pulling out.

That would be a bit premature.

[NAE NOOKIE]

I never doubted the Gordon's commitment or affection for the club and still don't. But in football that isn't enough as so many owners have found out, in the end when manager after manager fails there's only one target left for the fans anger and that's the board and owners.

But fair play to the Gordon family. It seems the learning process is finally drawing to a close and the mistakes they have made will be learnt from, not least by listening a bit more to the BKs.

That being said: After the first quarter of the season the talk was of Bill Foley laughing up his sleeve at David Gray's poor start because it proved his assertion he should never have been given the job was correct. The Gordons must be taking some pleasure in private that perhaps it wasn't such a stupid decision after all :greengrin

[Jones28]

That would be a bit premature.

:greengrin

[Kato]

That would be a bit premature.They'd need to get the tram from Haymarket.

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[Donegal Hibby]

I never doubted the Gordon's commitment or affection for the club and still don't. But in football that isn't enough as so many owners have found out, in the end when manager after manager fails there's only one target left for the fans anger and that's the board and owners.

But fair play to the Gordon family. It seems the learning process is finally drawing to a close and the mistakes they have made will be learnt from, not least by listening a bit more to the BKs.

That being said: After the first quarter of the season the talk was of Bill Foley laughing up his sleeve at David Gray's poor start because it proved his assertion he should never have been given the job was correct. The Gordons must be taking some pleasure in private that perhaps it wasn't such a stupid decision after all :greengrin

I never really believed the Foley’s ‘ they are not listening’ comments and if it was the case I’m glad they didn’t especially on the managers appointment they made . I also think that MM could prove to be a good appointment also in time .

[overdrive]

I never really believed the Foley’s ‘ they are not listening’ comments and if it was the case I’m glad they didn’t especially on the managers appointment they made . I also think that MM could prove to be a good appointment also in time .

A question was asked about the “not listening” comment. Tim (I’m not even going to attempt his surname) from BKFC said that the comment predated his time with BKFC so couldn’t really speak as to what BF meant but said since he’d joined he’d had positive dealings with Hibs and the important bit was that they were listening to each other now and going forward (said it was a two way thing).

IG then added something about how the board were sure Gray and Mackay were the right appointments at the time which was him pretty much confirming the remark was about those two appointments. Bit awkward with Gray and Mackay sat next to him.

[jacomo]

One of our sponsors went bust in the last financial year and as a result has defaulted on part of the money due to us (over £1.1m). I'm still not 100% sure who the company was (suggestions it was maybe Terry Healy Group, though someone who asked a question about it suggested Sportemon Go - though I think they went bust a lot earlier than the period we are talking). The club are pursuing legal action to try to recover some of the money from the liquidators. The note in the accounts about it suggests legal advice is that it is unlikely to be recovered. As a result a provision in the accounts for that amount has been made. In other words, £1.1m of the loss is as a result of this. We may get some of it back in the future but it looks unlikely.

Edit: Lombardi said it was one of the first things she had to deal with when she got into post and was shocked at the lack of checks and due diligence that the club was doing on some of these commercial deals. She's implemented a more robust process and controls to try to prevent something similar happening in the future. Presumably, running these deals past the finance team first and doing some checks on the company accounts, etc. Think she mentioned some of the wording of the contracts was a bit ambiguous as well.


Typically it's very, very difficult to get the money in these situations. Club is being responsible here.

[CropleyWasGod]

One of our sponsors went bust in the last financial year and as a result has defaulted on part of the money due to us (over £1.1m). I'm still not 100% sure who the company was (suggestions it was maybe Terry Healy Group, though someone who asked a question about it suggested Sportemon Go - though I think they went bust a lot earlier than the period we are talking). The club are pursuing legal action to try to recover some of the money from the liquidators. The note in the accounts about it suggests legal advice is that it is unlikely to be recovered. As a result a provision in the accounts for that amount has been made. In other words, £1.1m of the loss is as a result of this. We may get some of it back in the future but it looks unlikely.

Edit: Lombardi said it was one of the first things she had to deal with when she got into post and was shocked at the lack of checks and due diligence that the club was doing on some of these commercial deals. She's implemented a more robust process and controls to try to prevent something similar happening in the future. Presumably, running these deals past the finance team first and doing some checks on the company accounts, etc. Think she mentioned some of the wording of the contracts was a bit ambiguous as well.

That chimes with the notion that Ben was a salesman first. He was very good at that, of course, but ......

[Donegal Hibby]

A question was asked about the “not listening” comment. Tim (I’m not even going to attempt his surname) from BKFC said that the comment predated his time with BKFC so couldn’t really speak as to what BF meant but said since he’d joined he’d had positive dealings with Hibs and the important bit was that they were listening to each other now and going forward (said it was a two way thing).

IG then added something about how the board were sure Gray and Mackay were the right appointments at the time which was him pretty much confirming the remark was about those two appointments. Bit awkward with Gray and Mackay sat next to him.

I’ve been of the opinion that since it was said after the Kelty game in ‘ they are not listening’ it doesn’t necessarily mean the club didn’t listen but maybe did but just felt other options were better like in appointing MM and then Gray which I think was the owners right to choose. It did feel the timing of it was more in I told you , you were wrong …

Maybe a bit of frustration on Foleys part as he said he wanted all the clubs in the group playing the same way and the appointments didn’t suit with his agenda on this .

I think it was brave from the Gordon’s to stick with what they thought was right especially after what’s happened in the past and with it also being unpopular..

Important thing now is they work together for the good of the club which does appear to be happening ..

Thanks for the sharing btw 👍

[jacomo]

That chimes with the notion that Ben was a salesman first. He was very good at that, of course, but ......


Well quite. A good deal with a bad partner is not much of a deal at all.

I'm really encouraged by Ian Gordon's recent comments though. Seems like lessons have been learned, there's been a refreshing candour about things that went wrong last year, we are turning over a new leaf hopefully.

[hibeerealist]

I have never doubted Ron's intentions from the outset, struck me as a decent and honest guy. My concerns were raised when it appeared than Ian was pretty much controlling the recruitment as he had little to no experience in that field.

Concerns continued with the players brought in and some of the speculation over salaries.

Manager recruitment was also concerning.

To read what Ian said last night is so refreshing and clearly endorses the view held by many that the Gordon family are committed to our club.

Mistakes have been made however IG has been man enough to own them and along with his mum and brother, ensured the club did not suffer financially.

Allied to the upturn in results On the pitch I am feeling much better about our prospects going forward. The BKG will hopefully glue this all together and provide us with much to be happy about.

GGTTH

[Since452]

The Gordon's reign has been well critiqued but to be fair to them I think they've seen the error of their ways and they're trying to fix it. No point crying over spilled milk. It's done.

I don't doubt their commitment one bit. We seem to have a good structure in place with SDG and Mackay and with Kensell away now. Things are finally going in the right direction. Let's see what the BK's bring to the table. We're effectively debt free and ready to push on. Next season could be very exciting.