Hearts’ Finances?

[emerald green]

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The source isn't anonymous to the club, and the auditors will be able to see who it is from. However the source can request anonymity which means that they aren't publicly named.

I understand that, but if all you are doing is supporting your club (financially) why would anyone want to keep it a secret?

[cocteautwin]

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I understand that, but if all you are doing is supporting your club (financially) why would anyone want to keep it a secret?

Would you want to be associated with the sh！t show currently taking place at Tynecastle?


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[emerald green]

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Would you want to be associated with the sh！t show currently taking place at Tynecastle?


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No, I wouldn't, yet these "benefactors" are giving them loads of money.

[wallpaperman]

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I understand that, but if all you are doing is supporting your club (financially) why would anyone want to keep it a secret?

Perhaps it is the owner of a medium sized, but fairly well know local business, who doesn’t publicly want to be seen to be financially supporting one but not the other?

We all know how these types of things can be viewed locally, ‘l’m never drinking Strongbow’ again as one of a hundred examples.

[JohnMcM]

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Complaining about Hearts spending levels is a bit desperate.

It really is none of our business.

Although it's funny to see and laugh at their footballing troubles right now, I agree with you on this.

[jgl07]

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Perhaps it is the owner of a medium sized, but fairly well know local business, who doesn’t publicly want to be seen to be financially supporting one but not the other?

We all know how these types of things can be viewed locally, ‘l’m never drinking Strongbow’ again as one of a hundred examples.

Well I haven’t drank Strongbow since they sponsored Hearts. But then again I never drank it before either.

[Wembley67]

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Perhaps it is the owner of a medium sized, but fairly well know local business, who doesn’t publicly want to be seen to be financially supporting one but not the other?

We all know how these types of things can be viewed locally, ‘l’m never drinking Strongbow’ again as one of a hundred examples.

Exactly. The person in question could be extremely high profile in his sector and doesn't want to be named in the press due to the associations and trouble that goes with publicly backing a sports club.

[emerald green]

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Perhaps it is the owner of a medium sized, but fairly well know local business, who doesn’t publicly want to be seen to be financially supporting one but not the other?

We all know how these types of things can be viewed locally, ‘l’m never drinking Strongbow’ again as one of a hundred examples.

Fair comment.

[04Sauzee]

Hearts have posted their accounts today. Showing something like a £473k profit, haven't seen the full statement

Edit.. Link here

https://www.heartsfc.co.uk/news/article/annual-report-2020

[jacomo]

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Hearts have posted their accounts today. Showing something like a £473k profit, haven't seen the full statement

Edit.. Link here

https://www.heartsfc.co.uk/news/arti...al-report-2020

Wonder how the fans feel about their donations being used to turn a 'small' profit.

Fine, no doubt.

Another fine piece of work by Dr A Budge.

[Billy Whizz]

£3.6m from the benefactor and FOH

[Magpie]

£646k on a legal battle they lost.

[green day]

On the basis that loads of that accounting period was in the Premiership (albeit curtailed) their next set of accounts will be eye wateringly bad.

Basically the benefactor *****ed £3m on nothing last year and will presumably do the same this year.

Excellent stuff, really excellent.

eta - of course the BBC headline is Hearts Report a profit - fannies - https://www.bbc.co.uk/sport/football/55137731

[danhibees1875]

"enforced expulsion"

[Bostonhibby]

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"enforced expulsion"

The accountants couldn't spell expungulated.

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[The 90+2]

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£3.6m from the benefactor and FOH

Lucky people.

[Bostonhibby]

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£3.6m from the benefactor and FOH

That's the sort of money you need to ensure you finish bottom and are relegated (or whatever Mrs doctor Budge calls it).

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[The Tubs]

That comma in the first quoted phrase shows the competence levels at Hearts.

[CropleyWasGod]

Initial thoughts.

How were they going to do a further £3m of trading from April to June?

Net current liabilities of £9m. That's not good, heading into lockdown.

The repayment of AB's loan has been put back a further 12 months. Now at just over £4.4m

The loan of £1m from another director isn't repayable until October 2023.

Not sure if the Hickey sale would be reflected here. Can't remember when that was. If it is, they didn't get much for him.

114 football and coaching staff

[Billy Whizz]

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Initial thoughts.

How were they going to do a further £3m of trading from April to June?

Net current liabilities of £9m. That's not good, heading into lockdown.

The repayment of AB's loan has been put back a further 12 months. Now at just over £4.4m

The loan of £1m from another director isn't repayable until October 2023.

Not sure if the Hickey sale would be reflected here. Can't remember when that was. If it is, they didn't get much for him.

114 football and coaching staff

Think Hickey will be into the next year
Interesting also £742k claimed via Furlough. Think they are one of the first teams to show Furlough in their accounts

[Peevemor]

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Initial thoughts.

How were they going to do a further £3m of trading from April to June?

Net current liabilities of £9m. That's not good, heading into lockdown.

The repayment of AB's loan has been put back a further 12 months. Now at just over £4.4m

The loan of £1m from another director isn't repayable until October 2023.

Not sure if the Hickey sale would be reflected here. Can't remember when that was. If it is, they didn't get much for him.

114 football and coaching staff

I'm sure Budge said at the time that the early end to the season cost them £1m, and even that looks like an exaggeration.

The money they're going through is incredible.

[bigwheel]

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Think Hickey will be into the next year
Interesting also £742k claimed via Furlough. Think they are one of the first teams to show Furlough in their accounts

thats around 90 people full furlough amount, for that duration...quite a claim that

[Billy Whizz]

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thats around 90 people full furlough amount, for that duration...quite a claim that

.

[Col2]

And yet Hearts fans should be challenging the quality of player acquisition and the quality of manager appointment.

Continue to look slow, lacking goals and suspect at centra half.

They should also be asking given these numbers why they haven’t purchased the club through FOH, instead this is delayed indefinitely and supporters funds goes to fund Budge we ego trip.

The BBC Programme showed how unprofessional the club is surrounded by wee sweetly wives. “Onwards and upwards Daniel”

[h1bs4life]

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Initial thoughts.

How were they going to do a further £3m of trading from April to June?

Net current liabilities of £9m. That's not good, heading into lockdown.

The repayment of AB's loan has been put back a further 12 months. Now at just over £4.4m

The loan of £1m from another director isn't repayable until October 2023.

Not sure if the Hickey sale would be reflected here. Can't remember when that was. If it is, they didn't get much for him.

114 football and coaching staff

Not sure of all the ins and outs , does that mean despite showing all the money kicking about they didn't offer season ticket holders the option of a refund last season with there money going towards profit.
If Budge's loan delayed for a year does that mean she will still be in charge for that length of time hopefully she is there for life.
114 football and coaching staff WTF think they could do with a few more.
No doubt a big announcement of a great balance sheet , the best balance sheet in the championship. They have turned into what we were accused of being under Rod more interested in balance sheets than football

[Irish_Steve]

I can understand why so many Jambos contribute to FOH, after all, the club was in severe danger of going under and they rallied to the cause.

However, that is a huge amount of money to ***** away and it's hilarious how much the legal fees were! What was it Peter Grant said at the weekend lol

[speedy_gonzales]

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Hearts have posted their accounts today. Showing something like a £473k profit, haven't seen the full statement

Edit.. Link here

https://www.heartsfc.co.uk/news/article/annual-report-2020

Can't believe she used her honorary doctorate to sign that off 🤔

[Ozyhibby]

I’ll not consider it a waste of money until they lose to Celtic next month. I’m sure their fans will think the same.


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[Col2]

Given it’s up to end of June then financial hit is for last 8 games - 4 at home?

Without the FOH and Benefactors cash they would have lost £3.2m in that period. They took in nearly £800k for furlough as well. It’s a staggering amount of a shortfall but as long as benefactors continue to support they can get by.

If you assume FOH continue to support then I would expect them to lose another c£5-£6m on top of £2m (net) lost up to end of June. They will have a gap of c£7m and even if benefactor bail them for another £3m, they will need £4m of additional funding.

They already have debts of £4m. The accounts state transfer of ownership is delayed by minimum 12 months. Tick Tock.

[greenginger]

HoMFC accounts for 2020 now available, but the accounts for parent company Bidco1874 for 2019 have still not been released.

I wonder what’s in them that they don’t want the grunts to see.