Yam accounts

[CapitalGreen]

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I was sure it was mentioned on here a few years back that it was thought to be a group of Hearts supporting Baillie Gifford Fund Managers donating part of their massive bonuses to the cause. The company continues to prosper and these guys could still be contributing currently.

London based Hearts supporter Ron Delnevo, former owner of Bank Machine Ltd, sold his business to global ATM company Cardtronics inc for around £27m 😉

[WhileTheChief..]

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Not if the money from the benefactors got calculated into the annual budget at the beginning of the year, they knew that additional money was there to play with, it’s not as if it’s covering shortfall.

Agreed. They spent that money cause it was donated to them.

On Sportsound recently they talked about a donation being made to cover Naismith’s contract or something.

Don’t see the problem with it, they keep wasting whatever money they’ve got anyways.

[roo62]

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Agreed. They spent that money cause it was donated to them.

On Sportsound recently they talked about a donation being made to cover Naismith’s contract or something.

Don’t see the problem with it, they keep wasting whatever money they’ve got anyways.

...lets hope Ron can give us the financial helping hand and his business expertise to have a successful and exciting next phase

[FilipinoHibs]

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I was sure it was mentioned on here a few years back that it was thought to be a group of Hearts supporting Baillie Gifford Fund Managers donating part of their massive bonuses to the cause. The company continues to prosper and these guys could still be contributing currently.

That was all dismissed before. Baillie Gifford predominately recruits for senior positions from the upper middle classes who are more inclined to Rugby. Secondly, those donations would be a significant portion of any bonuses. To me it has to be Queen B to keep Hearts going and FOH money flowing in to ensure she gets her dough back. Plus there probably is a bit of face saving going on in her part. If you add up all the anonymous donations they are in the £20+ million range. That I think rules out Baillie Gifford or the Roseberry estate. The question I always ask on this is where was this money when Hearts needed saved. To me this points to Queen Bee as the source of the funds. She can use a Special purpose vehicle to hide where the money came from. The old adage you can make a small fortune out of football club ownership but you have to start with a large or medium sized fortune.

[Rumble de Thump]

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Agreed. They spent that money cause it was donated to them.

On Sportsound recently they talked about a donation being made to cover Naismith’s contract or something.

Don’t see the problem with it, they keep wasting whatever money they’ve got anyways.

If this was the case, Anne Budge would have told everyone. That being the case, why do we have people on hibs.net inventing it and passing it off as fact?

[roo62]

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That was all dismissed before. Baillie Gifford predominately recruits for senior positions from the upper middle classes who are more inclined to Rugby. Secondly, those donations would be a significant portion of any bonuses. To me it has to be Queen B to keep Hearts going and FOH money flowing in to ensure she gets her dough back. Plus there probably is a bit of face saving going on in her part. If you add up all the anonymous donations they are in the £20+ million range. That I think rules out Baillie Gifford or the Roseberry estate. The question I always ask on this is where was this money when Hearts needed saved. To me this points to Queen Bee as the source of the funds. She can use a Special purpose vehicle to hide where the money came from. The old adage you can make a small fortune out of football club ownership but you have to start with a large or medium sized fortune.

Just how wealthy is Ann Budge though?

[Eyrie]

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They still owe budge etc 4m. That will not be a problem if they continue to receive 3.25m in donations.

Is she still charging them 6.2% interest on her loan?

[Hibs4185]

Staff costs up £6 million, turnover up £3 million.

The accounts are terrible. Mutton dressed as lamb yet the yams lap it up

[FilipinoHibs]

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If this was the case, Anne Budge would have told everyone. That being the case, why do we have people on hibs.net inventing it and passing it off as fact?

Think a lot of trolls trying to pass the money off from other people- Baillue Gifford, Roseberry Estate etc.

[FilipinoHibs]

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Just how wealthy is Ann Budge though?

Around £40 million before the Hearts takeover. According to various newspaper sources.

[greenginger]

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Around £40 million before the Hearts takeover. According to various newspaper sources.

Her company , Newell and Budge , was sold for around the £ 40 million mark but she only owned just under 60% of the shares according to Companies House returns.

Can’t see why she would take interest on her loan, pay tax to HMRC , and then make much larger donations back to the Club. Don’t make sense.

I don’t think Budge is the mystery money supplier, but other than an anonymous lottery jackpot winner, I can’t see anyone with millions to throw away.

[CapitalGreen]

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Her company , Newell and Budge , was sold for around the £ 40 million mark but she only owned just under 60% of the shares according to Companies House returns.

Can’t see why she would take interest on her loan, pay tax to HMRC , and then make much larger donations back to the Club. Don’t make sense.

I don’t think Budge is the mystery money supplier, but other than an anonymous lottery jackpot winner, I can’t see anyone with millions to throw away.

vvv

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London based Hearts supporter Ron Delnevo, former owner of Bank Machine Ltd, sold his business to global ATM company Cardtronics inc for around £27m 😉

[SMAXXA]

Maybe a daft question but why can they get away with non disclosure of the beneficiary source surely from a money laundering perspective they would have to disclose the source of the funds?

[CapitalGreen]

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Maybe a daft question but why can they get away with non disclosure of the beneficiary source surely from a money laundering perspective they would have to disclose the source of the funds?

Who says they haven’t disclosed it anywhere, they just haven’t made it put the information in the public domain. Their auditors Johnston Carmichael know the source of that income.

[Greenworld]

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Who says they haven’t disclosed it anywhere, they just haven’t made it put the information in the public domain. Their auditors Johnston Carmichael know the source of that income.

Rumour is it is Bailly Gifford directors

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[Greenworld]

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Hi


I don’t know what it’s for but note 29 of their accounts says they have operating lease commitments of over £ 2.5 million , last year our lease commitments were £ 61,593 .


Maybe they’re just leasing the place

Could that be heriot watt?

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[Greenworld]

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If you take away the donations they're showing a £400k loss, that's despite the SC run and their much vaunted (on here) commercial income.

Once a bunch of scrounging losers always a bunch of scrounging losers.

It's not great is it bottom of the leugue with record income and record expenditure we know how that ends up

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[Weegreenman]

Couldn’t really care less about them or how their finances are tbh.

We need them and they need us. No hatred, just a healthy rivalry. I don’t want to see them in any financial trouble and I’d hate to see them relegated.
Without an Edinburgh derby, we have very little to look forward to.

I don’t even mind some of their supporters. I have a healthy banter with many of them that I consider to be good friends.

[FilipinoHibs]

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Rumour is it is Bailly Gifford directors

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See above for reasons I don't it is them.

[FilipinoHibs]

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Maybe a daft question but why can they get away with non disclosure of the beneficiary source surely from a money laundering perspective they would have to disclose the source of the funds?

If not from director they don't need to disclose. But can use a special purpose vehicle to wash the money through to hide real source.

[FilipinoHibs]

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Her company , Newell and Budge , was sold for around the £ 40 million mark but she only owned just under 60% of the shares according to Companies House returns.

Can’t see why she would take interest on her loan, pay tax to HMRC , and then make much larger donations back to the Club. Don’t make sense.

I don’t think Budge is the mystery money supplier, but other than an anonymous lottery jackpot winner, I can’t see anyone with millions to throw away.

She also had remuneration for many years as owner and then chief executive. That would be at least a big six figure sum for those years.

[green day]

Their numbers are good in some places, desperately poor in others.

• Commercial income is up a lot - very positive
• Money in (all sources) is up - positive
• Salaries are up - ?
• Donations from sources other than FoH - This is the one which needs scrutiny, and is possibly why they released these figures just ahead of the international break.

Without donations from FoH and Anonymous, Hearts would have made a considerable loss - even allowing for the very positive commercial income figures.

Any business so reliant on donations isnt being run as a business (more like a charity) and they have a massive problem if these donations dont arrive year on year as they are now reliant on them.

Same old Hearts, hubris and ego come first and second in the list and well above being run as a viable going concern. It is not that far away from how Rangers are currently running their business.

[cocteautwin]

For me the stand out number in the accounts is the low cash balance of just £591k. Normally at this time of the year cash balances should be high due to season ticket income. Indeed, the deferred income figure in their accounts is showing a number of £5.2m which one can assume is all season ticket money for the coming 19/20 season. As a comparison Hibs normal cash balance around the end of June is £4m.

It looks like HMFC have spent most of their season ticket money before the season even started.

Either HMFC are on the verge of bankruptcy or they are expecting another big multi million £ contribution from their anonymous donor after the date of the accounts.

[Davy Mac]

Not had a chance to read the thread all the way through but the donations are coming from the Rockstar guys are they not?

Turns up to the board meetings dressed rather too casually for Queen Budge's liking from what I'm told ;-)

[cocteautwin]

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Not had a chance to read the thread all the way through but the donations are coming from the Rockstar guys are they not?

Turns up to the board meetings dressed rather too casually for Queen Budge's liking from what I'm told ;-)

Whoever it/they is/are, I wonder if they feel they are getting value for money for the £10m+ he's/they've pumped in to the club so far?

I wonder if FoH feel they are getting value for their £10m+ they've pumped to the club so far?

[Aldo]

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See above for reasons I don't it is them.

Could be anyone but if it is it will be their own money, not companies!


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[FilipinoHibs]

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Not had a chance to read the thread all the way through but the donations are coming from the Rockstar guys are they not?

Turns up to the board meetings dressed rather too casually for Queen Budge's liking from what I'm told ;-)

Thought the Rockstar where sympathetic to Hibs why all the references to Leith and good gang in green.

They were founded in Dundee from people born there. Highly unlikely to be Hearts fans.

Is this a wind up or a bit of trolling?

[lucky]

They are making a massive loss but very rich fans keep donating to them. But there must be questions over this. Where does this sit with the financial fair play rules? If it’s ok to donate, why do City or PSG get fined for this, never mind overspending English Championship clubs?
Also if they are spending this sort of money, how the **** has Levein managed to get such a crap side playing so badly for so long. Obviously some strange goings on at the PBS

[04Sauzee]

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They are making a massive loss but very rich fans keep donating to them. But there must be questions over this. Where does this sit with the financial fair play rules? If it’s ok to donate, why do City or PSG get fined for this, never mind overspending English Championship clubs?
Also if they are spending this sort of money, how the **** has Levein managed to get such a crap side playing so badly for so long. Obviously some strange goings on at the PBS

We don't have financial fair play rules in Scotland

[where'stheslope]

I read through the week that if they were to go for Robinson, the money for his services and payment to Motherwell would be covered by an invisible investor????