The generic Hearts thread

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Originally Posted by cocteautwin

Are those not old numbers?

- She/BIDCO loaned them £1.9m in total back in 2018. I don't think she's loaned them anything else since although it's looking like she'll have to make a new loan to keep HMFC afloat for the rest of the season (if the benefactor doesn't increase the £4m they would also have had to put in after 30 June 2019).

- The amount due to JB Contracts at 30 June 2019 was £485k but one presumes this has been paid off in the past 9 months since the year end.

Have you heard something different from above? All my numbers are accurate, from HMFC accounts.

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I think the loan is still outstanding and would be surprised given their financial situation that they have paid any more of her brother's bill.

She is also saying today, that because of COVId-19, there could be a delay in handing over her shares to FOH. Sounds like they may need the FOH money to keep Hearts afloat

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Originally Posted by FilipinoHibs

I think the loan is still outstanding and would be surprised given their financial situation that they have paid any more of her brother's bill.

She is also saying today, that because of COVId-19, there could be a delay in handing over her shares to FOH. Sounds like they may need the FOH money to keep Hearts afloat

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Yes, there were a number of loans, the loan to buy the shares being something separate from the Budge loan of £1.9m which, as you say, was still not repaid at 30 June 2019. It seems the loan to FoH for the £2m to buy the shares has been repaid by FoH to Budge but, again as highlighted by your good self, the share transfer still hasn't taken place.

Not sure why COVID-19 would delay the filling out of a piece of paper to transfer the shares but there you go. The money has been paid across but the fans aren't getting the shares.

I presume the amount owed to her brother at 30 June 2019 was just treated like a normal Trade Creditor and paid soon after the year end from funds HMFC would have received from the benefactor. I say "from the benefactor" because it sure as hell couldn't have been paid from season ticket money as that was already mostly spent by 30 June. We won't know all of this until the next accounts are published but I think we need to assume the debt to the brother has been paid off.

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Originally Posted by cocteautwin

Yes, there were a number of loans, the loan to buy the shares being something separate from the Budge loan of £1.9m which, as you say, was still not repaid at 30 June 2019. It seems the loan to FoH for the £2m to buy the shares has been repaid by FoH to Budge but, again as highlighted by your good self, the share transfer still hasn't taken place.

Not sure why COVID-19 would delay the filling out of a piece of paper to transfer the shares but there you go. The money has been paid across but the fans aren't getting the shares.

I presume the amount owed to her brother at 30 June 2019 was just treated like a normal Trade Creditor and paid soon after the year end from funds HMFC would have received from the benefactor. I say "from the benefactor" because it sure as hell couldn't have been paid from season ticket money as that was already mostly spent by 30 June. We won't know all of this until the next accounts are published but I think we need to assume the debt to the brother has been paid off.

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Maybe she wants to keep full control of the club during the latest financial crisis. Clearly, the money from the benefactor has dried up. She may pitch to FOH that the club will go bankrupt unless the £2 million from FOH that she has been given, be used to keep it running. Share ownership is off and start the DDs again. It sounds like an absolute mess and admin on the horizon again. Why she was so glum in her recent interview.

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Originally Posted by FilipinoHibs

Maybe she wants to keep full control of the club during the latest financial crisis. Clearly, the money from the benefactor has dried up. She may pitch to FOH that the club will go bankrupt unless the £2 million from FOH that she has been given, be used to keep it running. Share ownership is off and start the DDs again. It sounds like an absolute mess and admin on the horizon again. Why she was so glum in her recent interview.

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If this happens, then HMFC are right royally f ** * ed without injections of capital from another source. Excuse the sweary word.

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Originally Posted by cocteautwin

If this happens, then HMFC are right royally f ** * ed without injections of capital from another source. Excuse the sweary word.

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Karma Karma Karma and all those contracts to pay off to.

The benefactors are Swedish guys who went to uni in Edinburgh. Tried to buy the club before budge

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Originally Posted by FilipinoHibs

Maybe she wants to keep full control of the club during the latest financial crisis. Clearly, the money from the benefactor has dried up. She may pitch to FOH that the club will go bankrupt unless the £2 million from FOH that she has been given, be used to keep it running. Share ownership is off and start the DDs again. It sounds like an absolute mess and admin on the horizon again. Why she was so glum in her recent interview.

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Amazing, isn't it, that so many articles were published in Scottish Newspapers praising Hearts, FoH and Mrs Budge as being the model for the rest of Scottish Football to follow.

How is it, so many asked, that this woman is not being appointed to run Scottish Football? It would clearly be so much better with her in charge.

They also regularly described Hearts as being 'Fan Owned' about four/five years ago, despite the fact that it still hasn't even happened yet.

Oh and have they finished building that new stand yet?


I'm still waiting for the retractions...

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Originally Posted by FilipinoHibs

Karma Karma Karma and all those contracts to pay off to.

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Quite simply, if the benefactor disappears then the club will go under, unless Budge is willing to throw some more cash after that amount already sunk.

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Originally Posted by Jim44

I’m not so sure and there is room to assume they depend highly on public funding.

https://www.universitiesuk.ac.uk/pol...-explained.pdf

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Yes I think they are primarily publicly funded. They are also covered by and need to comply with public sector procurement regulations.

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Originally Posted by sean04

The benefactors are Swedish guys who went to uni in Edinburgh. Tried to buy the club before budge

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They were Norwegians, and it most certainly isn't them.

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Originally Posted by sean04

The benefactors are Swedish guys who went to uni in Edinburgh. Tried to buy the club before budge

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Nice new spin. If they had £11 million now to give away why did
they not take over club with no DDs and inject some capital? Last candidate was one person who is an acquaintance of the Wallace the FoH chair. Although previously the poster said it was several people.

Who ever it is they aint stumping up again.

Sturgeon now saying football season is finished and even small gatherings will be banned

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Originally Posted by cocteautwin

They were Norwegians, and it most certainly isn't them.

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Aha!

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Originally Posted by cocteautwin

Yes, there were a number of loans, the loan to buy the shares being something separate from the Budge loan of £1.9m which, as you say, was still not repaid at 30 June 2019. It seems the loan to FoH for the £2m to buy the shares has been repaid by FoH to Budge but, again as highlighted by your good self, the share transfer still hasn't taken place.

Not sure why COVID-19 would delay the filling out of a piece of paper to transfer the shares but there you go. The money has been paid across but the fans aren't getting the shares.

I presume the amount owed to her brother at 30 June 2019 was just treated like a normal Trade Creditor and paid soon after the year end from funds HMFC would have received from the benefactor. I say "from the benefactor" because it sure as hell couldn't have been paid from season ticket money as that was already mostly spent by 30 June. We won't know all of this until the next accounts are published but I think we need to assume the debt to the brother has been paid off.

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I’m not so sure about the brother being paid off.

I see his wheels in Budges driveway on a regular basis.

Could be collecting is dosh in small instalments :greengrin

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Originally Posted by cocteautwin

They were Norwegians, and it most certainly isn't them.

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Turned out to be a publicity scam by a company called Crest who are run by a Walter Mitty character.

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Originally Posted by NAE NOOKIE

Of course this situation has been brought about by the global pandemic, don't be so obtuse. If it wasn't for this situation Hearts would have 24 points still to play for which would have made relegation anything but a certainty. I seem to recall a club who needed their nearest rivals who hadn't lost for months to lose and them to win by 5 clear goals on the last day of the season a few decades ago and it happened, as any Jambo will be able to tell you ... I seem to recall a team with a 2 - 0 away leg playoff lead and 18,000 fans backing them at home still losing the 2nd leg and getting relegated by a club who had brought practically their whole home support with them and still couldn't fill the south lower.

What Budge is worrying about is her business and how it will be affected by relegation. Her concerns are no less legitimate than those of any business owner whose firm is or will be affected by this situation, including its ability to generate income and keep it's staff in employment. From their point of view as a business, even if that business is football, their concerns are of no less importance than those of any other. Or are you genuinely saying that no business has a right to look after it's interests if it can because people are getting ill and in some cases dying, coz if that is the case it will be a first in world history. If you can tell me how many lives Hearts getting relegated will save or how it will help in solving this crisis I'm all ears.

The absolute fact is that without the current situation as a factor Hearts can reasonably claim that they were a long way from certs to finish even 11th, never mind in the automatic relegation place ... How often have Hamilton been on the brink and clawed their way back at the death? How many times have teams in many many leagues saved themselves from the drop at the 11th hour with far less chances than a 4 point deficit and 24 points up for grabs.

Sorry, but unlike to many on here I'm not prepared to suspend my sense of fairness or perspective just because I'm a Hibby and the club on the receiving end is Hearts. Nor am I going to join in the calls for them to cheerfully fall on their sword when I know for a bloody fact that I would want Hibs to fight such a situation tooth and nail.

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Of course that's not what I'm saying.

I respect your opinion on this but we'll just have to agree to disagree. I simply don't think Hearts' situation comes close to the problems facing many more individuals and businesses around the globe. Many will not survive despite any government support available. Hearts, however, have a big enough support base to ensure that going down will not put them out of business. Sure, it'll hit them hard, but they'll bounce back just as Hibs did. I'd have more sympathy for a much smaller club like Hamilton who really could go to the wall if months without income was coupled with relegation.

The '24 points to play for' mantra is also a pretty lame one. Would any of us be confident that if it was Hibs sitting four points adrift with just a few games left that we'd be right in the mix to escape the drop? I honestly don't think, when watching the fallout from this pandemic unfold across the globe, that I'd be fighting tooth and nail for Hibs to instigate legal action in such circumstances.

I might have felt differently when I was younger and more fitba-daft, but the bottom line here is that Hearts' situation really isn't worth getting hot and bothered about in the context of the bigger picture. In fact, football as a whole, is really neither here nor there at present.

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Originally Posted by FilipinoHibs

Nice new spin. If they had £11 million now to give away why did
they not take over club with no DDs and inject some capital? Last candidate was one person who is an acquaintance of the Wallace the FoH chair. Although previously the poster said it was several people.

Who ever it is they aint stumping up again.

Sturgeon now saying football season is finished and even small gatherings will be banned

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So if HMFC get relegated and go in to Admin again, does that mean they’ve done the Double Double?


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Originally Posted by Keith_M

Aha!

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Haha, Big fans of Gary Cock apparently, named their track after him "Piss On Me" I think it was called!

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Originally Posted by FilipinoHibs

Turned out to be a publicity scam by a company called Crest who are run by a Walter Mitty character.

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I used to use their toothpaste decades ago.
Had to go to the dentists dozens of times since.
Go figure.

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Originally Posted by Keith_M

Aha!

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You would say that, Knowing you (knowing me).

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Originally Posted by Keith_M

Aha!

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Aye, but the Sun Doesn't Always Shine on TV commentators - they get soaked when sitting in that main stand when it rains.

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Originally Posted by cocteautwin

Can anyone tell me if I was hearing things or did Ann Budge say in one of her recent statements that she's asked players not to take wages in April?

Surely being unable to pay the players is the very definition of a football club being insolvent?

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Players not getting paid at the PBS - not exactly a novelty, more the case of 'situation normal' !

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Originally Posted by FilipinoHibs

She has also loaned them a further £1.9 million and her brother's firm looks to be owed £750,000 for completed work on the stadium. She is saying into today's press, they have lost £1 million in income they were expecting in the coming weeks from home games and the cup semi.

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With similar number of games left this season i guess we will be losing circa £1 million also.We are not bleating on about it which to me says everything regarding ours and Hearts current financial position.

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Originally Posted by cocteautwin

Can anyone tell me if I was hearing things or did Ann Budge say in one of her recent statements that she's asked players not to take wages in April?

Surely being unable to pay the players is the very definition of a football club being insolvent?

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I haven't seen or read rhis anywhere, does anybody have a link. This would be wonderful

A £1,000,000 loss to a big team like Hearts is surely just a tiddly amount?

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Originally Posted by FilipinoHibs

She has also loaned them a further £1.9 million and her brother's firm looks to be owed £750,000 for completed work on the stadium. She is saying into today's press, they have lost £1 million in income they were expecting in the coming weeks from home games and the cup semi.

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I read that also & no wonder Hearts are in trouble if that's how she does her financial predictions. She expected to make £500k from 4 home games, ie £125k per game. That means 4,000 non season ticket holders turning up & paying over £30 per head. The only way that could happen would be if the 4 games were against us & the uglies & that obviously isn't going to happen. A more realistic prediction would be somewhere short of half that amount. Sounds like preparing the ground for an insurance claim!

The best thing that could happen in March/April will be for the BBC to bring forward the release date of the Hearts fly on the wall documentary

:yw:

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Originally Posted by FilipinoHibs

Maybe she wants to keep full control of the club during the latest financial crisis. Clearly, the money from the benefactor has dried up. She may pitch to FOH that the club will go bankrupt unless the £2 million from FOH that she has been given, be used to keep it running. Share ownership is off and start the DDs again. It sounds like an absolute mess and admin on the horizon again. Why she was so glum in her recent interview.

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She did look a bit glum, I think her medication is wearing off and she's just realised she'd bought Heart of midlothian football club when she thought she was investing in a garden centre.

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Originally Posted by Keith_M

Amazing, isn't it, that so many articles were published in Scottish Newspapers praising Hearts, FoH and Mrs Budge as being the model for the rest of Scottish Football to follow.

How is it, so many asked, that this woman is not being appointed to run Scottish Football? It would clearly be so much better with her in charge.

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Tom English one of the ones wanting her in charge of Scottish football. Strangely quiet on this the last few months.

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Originally Posted by Springbank

The best thing that could happen in March/April will be for the BBC to bring forward the release date of the Hearts fly on the wall documentary

:yw:

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Or Hearts could buy the rights to this documentary and then make it 'Pay-per-view' - what with Stendel/Berra, relegation
etc it could mean they'd be the only Scottish club to end this season in profit !!

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Originally Posted by Deansy

Or Hearts could buy the rights to this documentary and then make it 'Pay-per-view' - what with Stendel/Berra, relegation
etc it could mean they'd be the only Scottish club to end this season in profit !!

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It's just a pity Laurel & Hardy weren't able to appear in the episode about building the megastand.

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