Petrie - performance related pay...

[EasterRoad4Ever]

... read somewhere that the Hibs Board strip out a steady £400k a year out of the club no doubt justified by the ££££ that Rod makes wheelin and dealin in the transfer market.

Maybe time for the Board (and Petrie in particular) to fully align his pay/fees with the performance of the team on the pitch, and the interests of the Hibs fans. For example, is it reasonable to expect a club of Hibs size to make the top 6 of the SPL each year? I'd say, yes. Anything less is failure. So, as a starting point Petrie should receive absolutely NO salary or fees from the club if they fail to make the top 6. Progress in the cups and qualification for Europe, position in SPL all bring rewards and higher fees.

At least that way, we might have a little more faith that if Petrie chooses to sell off the main playing assets of the club and not reinvest a fraction back into the product on the pitch, then at least we'll have the satisfaction of knowing he'll be paying for it in his own pocket.

As things stand, there is little incentive for Petrie to reinvest in the playing staff and much easier for him to focus on building stands and cash-flows ie within his comfort zone.

[new malkyhib]

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... read somewhere that the Hibs Board strip out a steady £400k a year out of the club no doubt justified by the ££££ that Rod makes wheelin and dealin in the transfer market.

Maybe time for the Board (and Petrie in particular) to fully align his pay/fees with the performance of the team on the pitch, and the interests of the Hibs fans. For example, is it reasonable to expect a club of Hibs size to make the top 6 of the SPL each year? I'd say, yes. Anything less is failure. So, as a starting point Petrie should receive absolutely NO salary or fees from the club if they fail to make the top 6. Progress in the cups and qualification for Europe, position in SPL all bring rewards and higher fees.

At least that way, we might have a little more faith that if Petrie chooses to sell off the main playing assets of the club and not reinvest a fraction back into the product on the pitch, then at least we'll have the satisfaction of knowing he'll be paying for it in his own pocket.

As things stand, there is little incentive for Petrie to reinvest in the playing staff and much easier for him to focus on building stands and cash-flows ie within his comfort zone.

Steady...that kind of talk will get you banned from on here 4ever - and a few of Petrie's disciples will already have you on their ignore list.

[aazza91]

No,

Surely this would be majorly unfair on the board, if the players don't perform aswell as they should it isn't the boards fault.

A good idea would be to offer players a lower wage with a higher performance bonus. That way your more than likely to get players giving 110% all the time

[Iain G]

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Steady...that kind of talk will get you banned from on here 4ever - and a few of Petrie's disciples will already have you on their ignore list.

There is an ignore list??

Is there a "talking repetitive bollox about the board" ignore list that automatically filters out when someone is stuck in the same repetitve groove and can't get out of it...

[IWasThere2016]

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There is an ignore list??

Is there a "talking repetitive bollox about the board" ignore list that automatically filters out when someone is stuck in the same repetitve groove and can't get out of it...

Who said that?

[IWasThere2016]

I am not sure there needs to be any PRP for RP. He is a co-owner.

RP is protecting his investment by being prudent and investing in tangible assets. Our Board take a disporportionate % of salary to turnover IMHO. Even the bankers would have the good grace to blush at!

[Hibbyradge]

I have no idea if that figure is true or not, but it works out at an average of about £1000 a week for running a multi million pound business.

That doesn't seem excessive.

How much do you think the players "strip out of the club"?

So, as a starting point Petrie should receive absolutely NO salary or fees from the club if they fail to make the top 6.

I wonder how many supporters would agree to a salary system like that!

[NORTHERNHIBBY]

I would find that hard to believe. Holding out for the best return for our players is hardly rocket surgery.

[Hibbyradge]

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I am not sure there needs to be any PRP for RP. He is a co-owner.

RP is protecting his investment by being prudent and investing in tangible assets. Our Board take a disporportionate % of salary to turnover IMHO. Even the bankers would have the good grace to blush at!

What evidence do you have of that?

[IWasThere2016]

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What evidence do you have of that?

The ONLy league we will top - trust me

[Hibbyradge]

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The ONLy league we will top - trust me

Ah, the blind faith argument.

Not particularly persuasive, G.

Vlad recently said he's made £10m from Hearts.

[IWasThere2016]

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Ah, the blind faith argument.

Not particularly persuasive, G.

Vlad recently said he's made £10m from Hearts.

That's virtual though I'm talking real cash!

Our 08 Accounts show £506k taken out by the Directors. This was against a turnover of just over £8,053k.

So that's 6.3% - or the first 660-odd STs through the door. There won't be a higher % in the SPL.

Anyone have a link to that site with all the club's accounts?

[matty_f]

If we were going performance related pay for the people that sanction the money for signings, you can kiss goodbye to the manager getting to pick who comes and who goes.

[cockneymike]

This is an interesting debate because I think that the board probably do get very well paid and perhaps as percentage of turnover they get too much. Yet they do run a tight ship and are probably providing a decent return to the shareholders in terms of increasing the value, if not in dividends.

I also wonder if RP's salary has been reduced/ halved even since Scott Lindsay has joined. As I don't think that Ken Lewandowski, Malcom MacPherson, Tom O'Mally, or even Lex Gold would have taken much, if any, of a salary when they were chairman.

Also I understand that the non-exec's don't get paid (although to be honest, I'd pay to do that job).

[Criswell]

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This is an interesting debate because I think that the board probably do get very well paid and perhaps as percentage of turnover they get too much. Yet they do run a tight ship and are probably providing a decent return to the shareholders in terms of increasing the value, if not in dividends.

I also wonder if RP's salary has been reduced/ halved even since Scott Lindsay has joined. As I don't think that Ken Lewandowski, Malcom MacPherson, Tom O'Mally, or even Lex Gold would have taken much, if any, of a salary when they were chairman.

Also I understand that the non-exec's don't get paid (although to be honest, I'd pay to do that job).

Who exactly are these shareholders? The only ones I can think of are the few fans who bought shares in the Gray/Duff era. (fair play to them) A miniscule amount of equity that was regarded as worthless from day one.

The only person who has put money into the club was Farmer. Interesting that Petrie is now described as a co-owner. How exactly did that happen? I am willing to bet he hasn't invested a penny of his own money in the club.

[IWasThere2016]

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This is an interesting debate because I think that the board probably do get very well paid and perhaps as percentage of turnover they get too much. Yet they do run a tight ship and are probably providing a decent return to the shareholders in terms of increasing the value, if not in dividends.

I also wonder if RP's salary has been reduced/ halved even since Scott Lindsay has joined. As I don't think that Ken Lewandowski, Malcom MacPherson, Tom O'Mally, or even Lex Gold would have taken much, if any, of a salary when they were chairman.

Also I understand that the non-exec's don't get paid (although to be honest, I'd pay to do that job).

SL started in April/May time, and RP took a cut from August onwards IIRC. I don't think it was 50% though

[oldbutdim]

I think STF owns about 90% of the parent body, with Rodders having 10%.


I'm one of the blokes who lost his money trying to prevent the Wallets take over, and was gifted new shares by STF.

No return on them.........

[Seveno]

[QUOTE=

As things stand, there is little incentive for Petrie to reinvest in the playing staff and much easier for him to focus on building stands and cash-flows ie within his comfort zone.[/QUOTE]


RP knows full well that he has to invest in the players or revenue at the gate, ST's and shop will drop. He has to do it prudently though.

If East Mains isn't investment in the playing staff, then what is ? Not only does it help develop our own talent but it helps to attract players who want to improve their standards e.g. Danny Galbraith.

Apart from the capital costs though, it apparently costs over £1m p.a. to run and players sales is an essential element is meeting these costs.

[Woody1985]

Performance related pay isn't always the best way depending on the environment the person is in.

E.g you take banking. The new exec was given a target to increase the SP to 70p. Therefore, he could potentially use methods to push the value up to that mark in the short term but harming the long term value of the business.

If the same applies to a football team then petrie could go and spend millions that he doesn't have to get to 3rd. Allowing him to get a bonus and short term gain for the fans. We'd be close to going down the tubes and if someone did takeover we'd have to go through a debt clearing process all over again. This board would be full of the same chat for the next 15 years. We keep selling our best players to clear debt etc.

Once the debt and infrastructure is complete we'll take great strides forward IMO.

Although I do agree the board is top heavy pay wise.

[Mikey]

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that kind of talk will get you banned from on here 4ever

Any chance you can draw up a list of all the people who have been banned from here for speaking out against the club?

[degenerated]

dont be holding your breath waiting on a response mikey

[CropleyWasGod]

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Who exactly are these shareholders? The only ones I can think of are the few fans who bought shares in the Gray/Duff era. (fair play to them) A miniscule amount of equity that was regarded as worthless from day one.

The only person who has put money into the club was Farmer. Interesting that Petrie is now described as a co-owner. How exactly did that happen? I am willing to bet he hasn't invested a penny of his own money in the club.

Doesn't need to. Employees getting bonuses in the form of shares is common these days. It's an incentive to stay with the company, and work hard to increase the value of that holding.

[Phil D. Rolls]

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There is an ignore list??

Is there a "talking repetitive bollox about the board" ignore list that automatically filters out when someone is stuck in the same repetitve groove and can't get out of it...

I've never looked
I think there should be one


I've never looked
I think there should be one


I've never looked
I think there should be one


I've never looked
I think there should be one


I've never looked
I think there should be one

Petrie get it sorted!!

[CropleyWasGod]

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I think STF owns about 90% of the parent body, with Rodders having 10%.


I'm one of the blokes who lost his money trying to prevent the Wallets take over, and was gifted new shares by STF.

No return on them.........

TBH, you're not really looking for one, are you? That said, if the company stopped trading tomorrow, and the assets were divvied up, you would get considerably more back than you paid.

[ancient hibee]

As well as turnover of £8Million in the year to 2008 there was also nearly £3Million gain on transfers so the percentager of board pay(which also includes pensions,company cars and in RPs case a performance related bonus of £12500-down from £30K the year before)doesn'tlook too high.2 of the directors got zilch.

[aberhibsfc]

I too put money in like many others during this period. I never received shares. But I'm not bothered, I love my club and was prepared to make that sacrifice.

Just wish that the club was aiming a bit higher on player recruitment STOP not getting into that one again, well not on this post.

[new malkyhib]

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There is an ignore list??

Is there a "talking repetitive bollox about the board" ignore list that automatically filters out when someone is stuck in the same repetitve groove and can't get out of it...

...you've used repetitive twice there. It's getting a bit repetitive.

[Hibs07p]

An accurate update of Petrie's salary.


Petrie, who had seen his basic salary reduced from £145,000 to £125,000 in the previous financial year, was, as of 1 August, now in receipt of £75,000 a year, a reflection, Lindsay said, of more of his responsibilities being passed to other directors.



http://edinburghnews.scotsman.com/hi...-of.5655176.jp

[bawheid]

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So, as a starting point Petrie should receive absolutely NO salary or fees from the club if they fail to make the top 6.

A quite ridiculous suggestion. Good luck finding a CEO or exec chairman who would work under those terms.

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I wonder how many supporters would agree to a salary system like that!

Quite, but it's Petrie, and he's fair game.

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trust me

Come on now. When's Mallo signing?

[Jack]

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I have no idea if that figure is true or not, but it works out at an average of about £1000 a week for running a multi million pound business.

That doesn't seem excessive.

How much do you think the players "strip out of the club"?





I wonder how many supporters would agree to a salary system like that!

I agree. The directors have walked a very thin line these past few years from almost being history to being at the forefront of the future of Scottish football. Not all clubs will be there to see it, indeed some didn't make it this far.