Quote:
Originally Posted by matty_f
Only a few would admit that openly as it's a massive loss of face. Those who live in the real world will be shouted down by the "Big Team" flump-zoomers.
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Quote:
Originally Posted by matty_f
Only a few would admit that openly as it's a massive loss of face. Those who live in the real world will be shouted down by the "Big Team" flump-zoomers.
You'd think the FoH directors would be up in arms about it - this is essentially their investment and asset that's getting mucked about with.Quote:
Originally Posted by Kato
As someone above said, maybe time to dust down the old adage -- - "tick tock".Quote:
Originally Posted by matty_f
That Stuart guy who is now on the board I think seems to be above scrutiny. Some gig.Quote:
Originally Posted by matty_f
Fear of losing the first goal leads to anger. Anger leads to hate. Hate leads to suffering."Quote:
Originally Posted by Booked4Being-Ugly
Think he is an Investment Banker?Quote:
Originally Posted by Treadstone
Actually, when you use rhyming slang, all of them are :greengrin
Knowledge of the Crapper he has.Quote:
Originally Posted by Smartie
Tracing paper toilet roll we must use.Quote:
Originally Posted by bringbackbenny
I don't think they're in any financial danger, but they're going to have a reality check when the time comes to cut the cloth to what the business can sustain.Quote:
Originally Posted by Kato
I suppose in theory that the extra money going in could continue indefinitely, but I don't think that's really a)likely or b) sustainable for planning.
Tangential - but here's Gordon Strachan recruiting for the Celtc dark side - "fear leads to anger, anger leads to hoops ..."Quote:
Originally Posted by Booked4Being-Ugly
https://i2-prod.dailyrecord.co.uk/in...S201403336.jpg
No!Quote:
Originally Posted by Springbank
Stop it!
Stop it now!!!!
I'm busting another few inches of gut again, and I've got hardly any left after reading this thread.
:lolyam::faf::faf:
Her sister's called Duncan Duncan.Quote:
Originally Posted by JohnMcM
Sent from my SM-A750FN using Tapatalk
Does she drive a claret Rover?Quote:
Originally Posted by Springbank
A maroon Lexus would be just as funny though [emoji1787]
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Loving that Idles referenceQuote:
Originally Posted by JeMeSouviens
Not sure, but I do hope she hits Ann Budge with an old joke every so oftenQuote:
Originally Posted by StevesFamau5
Duncan: Knock Knock
Budge: Who's there
Duncan: Duncan
Budge: Duncan Who?
Duncan make yer million pound pitch look a bit less shan if you spread it evenly across the surface, Queen Ann:na na:
Budge states that they are £400k behind budget.
This £400k figure is a red herring to deflect the severity of HMFC financial issues. This BUDGEt is nothing but an internal financial plan which will never be made public. It’s not some minor (and manageable) £400k they need to find to get them through to seasons end. This £400k number is merely a statement to show they are only a little behind their own internal budget. The fact they are £400k behind budget is meaningless information without us knowing what that BUDGEt might have been in the first place.
The true figure for what they need to see them through to the end of the season can be deduced from their latest accounts to 30 June which show an already spent £4-5m of early season ticket money. If HMFC don’t get to the Scottish cup final again, then here’s a gap of c£500k compared to last year. On top of this, they’ll probably get through close to £500k extra on the recruitment of a new management team and perhaps severance payments for dead wood hanging around Tynecastle. The increased wage bill compared to last season is going to hurt them also. The extra cash needed for the year to 30 June 2020 probably will be over £5m.
To say that they are only £400k behind is disingenuous and deflects from the true financial position. The question the HMFC fans should have been asking was “How much cash is needed to see us through to end of the season?”
Without knowing how deep the pockets of the donors are, it’s impossible to say how close HMFC are to financial ruin but as the additional cash spent by HMFC since Admin approaches £30m it’s difficult not to stand back and look on in astonishment at the total of the amounts being burnt through.
One does wonder if the faint rhythmic pattern in the background (that for now only those with Hibee hearing might notice), is the start of the tick and the tock of the countdown clock that regularly looms over those of our country’s football clubs who are unable to operate within the narrow financial parameters to which football in Scotland restricts us.
Wallace as FoH chairman is by all accounts a very passive individual.
What the Hearts fans need or needed (as too late now) was a healthy tension but productive relationship between FoH and Budge. Instead the only public commentary from Wallace appears to be asking Queen Ann when she wants the cash and where to send it.
The governance model which is ultimately key to how fan involvement will work in the future has been diluted to the point that even the happy clappers in kickback more recently started to question the changes. In simple terms There will be two directors representing the fans on the future board but ALL day to day decisions will be through CEO and overall board. Budge may well be handing over the club to the fans but don’t expect a jot of difference while Budge is still in charge. It will always be her club, her toy and her ego trip.
As others have reflected in 5.5 years what have they achieved and what resources have they wasted? They have won a championship trophy. They has played in Europe once and were humiliated. They are bottom of the league and facing amongst other things a 3rd year in a row behind ourselves.
They have overspent c£10m on a one tier stand. They have taken in £9m from FoH and they have received c£6m from mystery benefactors. Even if you deduct the amount needed to pay for shares £2.5m and make allowances for post admin club working capital and financing they have STILL MANAGED TO WASTE £15m+ on zero success, terrible football, a dreadful bloated overpaid squad, an academy that produced little if anything and an army of shocking coaches.
Quite astonishing and I can guarantee when Budge goes the benefactors will disappear and the FoH direct debits will dry up.
She obviously wants out!Quote:
Originally Posted by greenginger
Quote:
Originally Posted by green day
According to the directors entry on Foundation of Hearts Companies House list , Stuart Wallace is a director with PWC LLP. He’s an accountant.
Quote:
Originally Posted by matty_f
To be fair Matty, we’ve heard the ‘this spending can’t be sustained’ since the pieman days and we were all on here with the Cala homes ‘tick tock’ chat.
Yet their ability to fall into **** and emerge smelling of jam is unparalleled in Scottish football.
The team Hearts have announced tonight is utter jobbies.
Stendel either trying to work his ticket out of there already or trying to make the point he needs funds in January.
That is a team to do things imho..... shut up shop and to protect BerraQuote:
Originally Posted by 04Sauzee
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Seriously bad.Quote:
Originally Posted by 04Sauzee
It’s games like this that make me want to start gambling again.
After a major insolvency event!Quote:
Originally Posted by Speedway
Is there any chance, however small, that lot could come away with anything tonight?!
Boris Johnson is Prime Minister of the United Kingdom. Donald Trump is President of the United States. :wink:Quote:
Originally Posted by Joe6-2
Well I'm hoping they come away with a 5-1 humping to bring my coupon up.Quote:
Originally Posted by Joe6-2
😂😂Quote:
Originally Posted by Rocky
Stendel's a slaver.