We told you so

[Joe6-2]

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Have Hearts at any point accepted the fact that the most prevalent factor in their current predicament has been about 15 months of utterly abject footballing performance that falls way below the standards that Hearts would (quite rightly given their resources) reasonably expect to meet?

Not once!

[Caversham Green]

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Don't be fooled. Hearts are goosed.

Months ago budge admitted that they didn't have enough money to see out the season. They would also have budgeted for a top 6 place and the prize and gate money that goes with that.

Their 12th place left them with an even greater shortfall. To make things worse they released their STs a good bit later than normal and the uptake hasn't been great.

The decision to go with wage cuts as opposed to deferrals will also be hurting as they'll still be paying more than we do normally.

They'll have got a wee cash boost from the ST sales that they've managed but they'll be running on empty well before the end of the year. Are their mysterious benefactors going to continue to bail them out? It'll be getting more and more expensive.

The fact that they had spent £4.6m (around one third) of this financial year's income before the end of last financial year shows they were in poor shape a year ago. Their turnover for this year will almost certainly be down, they didn't appear to cut any costs before the pandemic forced them to and they haven't brought in nearly enough of next year's income (ST sales) to bale them out to any great degree. The only unknown is the generosity of the Bennies which must surely be sorely strained.

They can hardly be anything but goosed.

[Viva_Palmeiras]

The point I’d love the Radio Scotland Intelligencia to answer:

Through their repeated financial mismanagement, Hearts make a mockery of other clubs making sustainability their top goal. There fore why should they be assisted before/more than others? Discuss.

[HUTCHYHIBBY]

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I 100% would have no problem seeing them disappear for good. Selfish maybe but my life would be better without them around. The derby's no big deal IMHO, just a pretty unpleasant excuse for an outpouring of bile and I think Hibs would actually thrive by not having to adopt a different mindset for one fixture.

For once we agree.

[PatHead]

Wonder how many of their players are out of contract at the end of June and what difference that would make.

[Barney McGrew]

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Wonder how many of their players are out of contract at the end of June and what difference that would make.

Not that many.....

https://www.transfermarkt.co.uk/hear...id/2019/plus/1

[Ozyhibby]

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Not that many.....

https://www.transfermarkt.co.uk/hear...id/2019/plus/1

I scored out Washington as he has a year left. So 9 wages saved as of next week which is not bad but their squad is still bigger than ours and a lot more expensive even with their relegation clauses.


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[G B Young]

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For once we agree.

[eezyrider]

If there are a bunch of clubs that can't afford to play behind closed doors and another bunch that can the league will be reconstructed to accommodate those that can.

Whether that means hearts are in the Premiership or some kind of modified Championship I don't know, but that is what will happen as it's obviously best for football.

EZ

[Potty78]

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If there are a bunch of clubs that can't afford to play behind closed doors and another bunch that can the league will be reconstructed to accommodate those that can.

Whether that means hearts are in the Premiership or some kind of modified Championship I don't know, but that is what will happen as it's obviously best for football.

EZ

I agree, clubs are going to struggle and I genuinely believe they'll be saved on that basis.

[where'stheslope]

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If there are a bunch of clubs that can't afford to play behind closed doors and another bunch that can the league will be reconstructed to accommodate those that can.

Whether that means hearts are in the Premiership or some kind of modified Championship I don't know, but that is what will happen as it's obviously best for football.

EZ

You have hit the nail on the head!!!
But even the clubs that can afford to play behind closed doors may find it unsustainable the longer it goes on.
I feel football should not start till there is an agreed date for fans returning to stadiums!
2 months before maybe playing a game a week behind closed doors, but I feel that waiting could be nearer Christmas before we're let into stadia!!!

[marinello59]

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If there are a bunch of clubs that can't afford to play behind closed doors and another bunch that can the league will be reconstructed to accommodate those that can.

Whether that means hearts are in the Premiership or some kind of modified Championship I don't know, but that is what will happen as it's obviously best for football.

EZ

That’s possible. The lower leagues could possibly be restructured on a geographical basis as well, reducing travel costs might make some closed door games possible.

[McD]

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I scored out Washington as he has a year left. So 9 wages saved as of next week which is not bad but their squad is still bigger than ours and a lot more expensive even with their relegation clauses.


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Pereira and Meshino are loans, and iirc Brandon was highly rated (albeit injury prone) by them so they won't want to let him go if they can re-sign him

[Joe Baker2]

So, a club the size Hearts (the big team) has no financial reserves (after spending £14M on a new vanity stand that still needs finished) and this expenditure was approved by business expert Anne Budge? What happened to the cakes sales and the raffle tickets for Anne's 19 foot yacht? I'll say it again. They'll be bankrupt by Christmas. BTW here's a list of debt they still own from their first bankruptcy...

Creditors are due a total of £28,424,336 (this is only part of the list - there's a 10,000 character limited on these posts...


442SportsMarketingLtd £5,153
A1 Minibus&Coach £100
ADTFireand Securityplc £1,033
AyrUnited FC £1,750
ArnoldClark FinanceLtd £5,764
AlanDick £50
Alasdair Fraser £528
ArdoeHouse Hotel £180
Allstar Business Solutions £100
AlexanderSzatamari £9,100
AB Ukio Bankas £15,488,290
Baltic Clipper £497
Bank of Scotland (merchant services) £100
Bank of Scotland (equipment finance) £970
BeswickSportsLtd £3,000
BOC Gases £490
BritishRed Cross £76
BritishTelecommunications £3,024
BT Global Services £67
BritishGas Business £589
BigHearts CommunityTust £34,048
BruceRae Property Management £442
Business Line JAB(Vilnius) £204,143
Cable&WirelessCommunication £2,198
Mr JamesCalder £1,411
CameronPresentations Ltd £5,406
CampbellMedical Supplies £100
JanetteCampbell £100
CardiacServices £152
Charlie Irons CoachesLtd £100
Chamic £100
Childcare Vouchers Ltd £100
Il Ciocco (Italy) £11,468
CitreonUKLtd £5,232
Clearwater TechnologyLtd £5,156
Clouds £6,870
CoerverCoaching Scotland £948
ConceptGroup Ltd £841
Copymade Ltd £100
Corona Energy Retail 2 Ltd £29,720

The InsolvencyService £0
DJ Alexander £6,323
David Cameron (Edinburgh) £110
Amal Daher £120
Datatserve UK £160
DC Lighting Services £651
DJBFire&SafetyTraining £48
DuffieldHarrison LLP £1,816
Daisy Communications £1,474
Ensco 165 Ltd £509,464
Eamonn Collins £5,000
EdinburghChamber of Commerce £674
EdinburghCouncil (Chesser House) £90,715
EdinburghCouncil (For Flats) £2,631
EliteMedicale £229
Errington Associates £100
Egidijus Valiauga £860
Fife ImagingAssociates £900
FountainCourtApartments £100
Football Safety Officers Ass. £200
GF Capital Solutions £307
John Gibson £2,520
GlenhamProperty £100
GraemeRankin Sports Management Ltd £12,000
GreenStarMedia Ltd £77
Greentech (Sportsturf) Ltd £1,056
G4SSecureSolutions (UK) Ltd £12,087
GroupCall Limited £210
HMRevenue&Customs-VAT £0
HMRevenue&Customs £1,881,065
Hamilton&Brydie £144
Hectic Life £62
HBJGateley Wareing £100
Heriot Watt Sports Village Ltd £145,663
HighlanderKilt Hire Ltd £430
Hitachi Capital (MI Finance) £7
Holiday Inn AberdeenWest £55
HomespringLtd £499
Sven Houston £40
Heart ofMidlothianShareholderAssoc. £5,000

ImpactSigns £6,469
InterluxLtd £254
InterfaceEnvironment £100
JamesArmstrong&CoLtd £1,500
JohnstonCarmichael £100
Jane Lofthouse Johnston £410
JamesSandison £650
JThomson Colour Printers £100
Kauno Futbolo £13,431
KeySportsManagement Ltd £23,049
Korelita £52,610
KPMGTanacsadoKft. £1,190
LadyHaig’s PoppyFactory £185
Lietuvos Rytas £37
LivingstonFootball Club £282
Liverpool Football Club £46,625
LloydsTSB (Equiniti) £17,165
LexAutoleaseLtd £1,159
LochgreenHouse Hotel £510
Lyco Direct Limited £1,822
Milson Capital Corp £1,223,989
Ian Maclennan £335
McCrae’s BattalionTrust £100
Dr Carrie McCrea £760
Tony McGill £19,625
Dr ScottMcKie £700
McRaeofGorgie £560
Meriden Hospital £790
Dr AndrewMurray £250
Musselburgh AthleticFC £5,790
Michael Page International £100
NHSLothian £75.70
NHSFife £739
NorthLanarkshireCouncil £100
NorthgateVehicle Hire Ltd £1,661
Norwood Hall Hotel £100
NuffieldHealth £4,645
OGLawFirmLtd £5,000
Orange £5,896
PHSGroup plc £1,100

[jacomo]

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The fact that they had spent £4.6m (around one third) of this financial year's income before the end of last financial year shows they were in poor shape a year ago. Their turnover for this year will almost certainly be down, they didn't appear to cut any costs before the pandemic forced them to and they haven't brought in nearly enough of next year's income (ST sales) to bale them out to any great degree. The only unknown is the generosity of the Bennies which must surely be sorely strained.

They can hardly be anything but goosed.

There’s two things here though:

1. Are Hearts a well run club? Nope
2. Can Hearts access other sources of funding to cover their deficiencies? Emphatically yes.

They are a basket case, but a basket case with access to lots of cash from other sources. They will be fine, as they say so themselves.

[Iggy Pope]

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There’s two things here though:

1. Are Hearts a well run club? Nope
2. Can Hearts access other sources of funding to cover their deficiencies? Emphatically yes.

They are a basket case, but a basket case with access to lots of cash from other sources. They will be fine, as they say so themselves.

You’re becoming a bit like the last bouncer at chucking out time.

[nonshinyfinish]

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The InsolvencyService £0

£0?

Maybe if they'd spent more on insolvency services this whole mess could have been avoided.