Official HSL

[hibbie02]

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Thanks. Not got a clue what changing ‘articles of association’ may entail, in what way would funds be required for this? And correct me if I’m wrong but isn’t the current deal that 100% of funds contributed go to the team? If that’s the case then shouldn’t it be future funds impacted by this and not previous contributions? Giving donators the opportunity to increase/decrease dependant on the decision that is made.

Articles of association are sort of the legal rules that govern HSL Ltd. If there is a new model going forward, then the Articles will need to be changed by lawyers and paid for.

[Daniel 1875]

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Thanks. Not got a clue what changing ‘articles of association’ may entail, in what way would funds be required for this? And correct me if I’m wrong but isn’t the current deal that 100% of funds contributed go to the team? If that’s the case then shouldn’t it be future funds impacted by this and not previous contributions? Giving donators the opportunity to increase/decrease dependant on the decision that is made.

The sums contributed to the club are slightly less than the money received by Hibernian Supporters each month. There are running costs associated with the organisation which need to be paid for such as the online financial systems used for collecting the money and the fees associated with running the website and storing all the data.

Everything over and above this makes up the total published and sent to the club each month.

The way the company was set up in 2015 (with the sole purpose of raising money to buy shares in the football club) is no longer fit for purpose, there are no shares available to buy and as a result there are some changes which are needed to bring it up to date.

The most pressing issue at the moment is the lack of a full Hibernian Supporters board (the Articles of Association require us to have at least one club appointed director on the board in order to be able to call an AGM and discuss resolutions etc), which is what the HS board are currently working with the club to resolve.

Hopefully it’ll all be sorted very soon and we will share an update as soon as it is. Rest assured everyone will be kept up to speed as and when there’s anything new to report.

[CMurdoch]

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The money isn’t being withheld for a ‘better deal’. It’s not been transferred due to the fairly significant issues experienced recently with the website and the ongoing discussions with the club.

There may be a potential need to use some funds to change the Articles of Association depending on the outcome of those discussions with the club board and the wishes of the membership once a collaborative way forward has been established.

The August & September money will be contributed to the club as it was intended to be, aside from any funds needed to be used for the running of the business.

You and the other guys running HSL have my admiration and folks need to be reminded that you and the other guys at HSL do what you do for the square route of **** all. What I can see you do get is a whole load of hassle.
I say all this as someone who bailed as a contributer after the new owner stopped giving HSL shares in return for our cash.

[Billy Whizz]

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You and the other guys running HSL have my admiration and folks need to be reminded that you and the other guys at HSL do what you do for the square route of **** all. What I can see you do get is a whole load of hassle.
I say all this as someone who bailed as a contributer after the new owner stopped giving HSL shares in return for our cash.

Echo these thoughts too, we’ll done to you all. Like CM I stopped when we weren’t allowed to purchase any more shares
Hibs are really missing a truck with this, think them across the road put in more than £133k last month

[Dmas]

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Echo these thoughts too, we’ll done to you all. Like CM I stopped when we weren’t allowed to purchase any more shares
Hibs are really missing a truck with this, think them across the road put in more than £133k last month

Them across the road are dependent on these contributions to survive a huge difference to what HSL set up to achieve, the club are definitely missing a trick on this especially at a time where we’re doing so well but I totally understand Ron’s stance on the selling of shares it’s his investment being diluted after all

I’ll be revising my donation at the end of the season I mentioned on this thread previously that the lack of club involvement bothers me I think it hampers new membership and also gives current members the impression HSL is more of an unwelcome investor than a group helping the club out.

[Since452]

I didn't really like the idea of fan ownership to be honest. Never paid in for that reason. I paid in to top up the money the club was already bringing in to hopefully help towards transfers etc and will continue to do so. Having shares in the club doesn't really interest me.

[tamig]

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Echo these thoughts too, we’ll done to you all. Like CM I stopped when we weren’t allowed to purchase any more shares
Hibs are really missing a truck with this, think them across the road put in more than £133k last month

Not a dig Billy, but folk like yourself and PCM who gave up after the share purchase route was closed aren’t going to help us trying to keep up with that mob’s contributions.

[CMurdoch]

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I didn't really like the idea of fan ownership to be honest. Never paid in for that reason. I paid in to top up the money the club was already bringing in to hopefully help towards transfers etc and will continue to do so. Having shares in the club doesn't really interest me.

Fan ownership was never the plan.
It was about building up a sufficient share holding to prevent us being sold down the river in the future.
I take it Wallace Mercer was before your time?
History is something to learn from.

[McD]

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Fan ownership was never the plan.
It was about building up a sufficient share holding to prevent us being sold down the river in the future.
I take it Wallace Mercer was before your time?
History is something to learn from.

bit harsh mate, the poster was only responding to a point made by BW

[Booked4Being-Ugly]

Get McTominay off now.

[tamig]

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Get McTominay off now.

Wrong thread bud. Is he donating do you know?

[Bostonhibby]

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Fan ownership was never the plan.
It was about building up a sufficient share holding to prevent us being sold down the river in the future.
I take it Wallace Mercer was before your time?
History is something to learn from.

That's the full extent of why I signed up at the very beginning.

A meaningful protective shareholding to avoid finding ourselves at the mercy of the likes of Mercer and his financial backers, my shareholding then was of no effect, and sadly that's likely where we are now despite the best intentions of many.

I've let the contribution continue as have other members of my family but it does feel a bit of distance exists between the original honourable intent and the current situation. I'm more than happy for donations to help the playing side but I'd like to see the club a bit more up front here.

I can see the articles of association might be a short term barrier to necessary change given we are no longer able to buy shares.

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[Pagan Hibernia]

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Fan ownership was never the plan.
It was about building up a sufficient share holding to prevent us being sold down the river in the future.
I take it Wallace Mercer was before your time?
History is something to learn from.

I got involved for the supporters shareholding. To safeguard the club against those who might do it harm. The fact the money went into the club and the first team was a very nice bonus.

more than two years after RG showed up I’m still contributing but I have to admit there are many times when I wonder why.

[weecounty hibby]

I don't even notice the money leaving my account any more. And this is why the tarts have been successful and maintained the foh money. They HAD to do it to start with to save the club. Now it's become a habit and their £10 a month isn't even noticed anymore. We on the other hand had Hibs fans calling it a Ponzi scheme and downcried it from the start.
I was never interested in having shares in the club all I wanted was another avenue to give money, TAX FREE, to Hibs. I probably agree that there could/should have been some kind of monthly prize or similar for contributors to win, comms could be better, support from the club could be better etc but as I say I don't even notice my small donation each month so won't stop contributing

[mutley]

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I don't even notice the money leaving my account any more. And this is why the tarts have been successful and maintained the foh money. They HAD to do it to start with to save the club. Now it's become a habit and their £10 a month isn't even noticed anymore. We on the other hand had Hibs fans calling it a Ponzi scheme and downcried it from the start.
I was never interested in having shares in the club all I wanted was another avenue to give money, TAX FREE, to Hibs. I probably agree that there could/should have been some kind of monthly prize or similar for contributors to win, comms could be better, support from the club could be better etc but as I say I don't even notice my small donation each month so won't stop contributing

This is pretty much my stance too.

It would be nice if the club itself pushed it a little more, that would give it the more “official” feel, and although I have no intention of cancelling (at the moment anyway) I really don’t think there is much to pull in new contributors.

This could be that we have a very stable financial footing and people might think that there is no need to add extra cash- not thinking about how every little bit helps.

I also agree that what didn’t help were the so called fans trying to stop it happening at all!!

It is a little annoying that it has gone very quiet though, and the whole “well we have nothing to say at the moment” isn’t a great message to pass to anyone who may have been thinking about joining.

The names on the Third strip is a fantastic example of what made people sit up and notice though, but I do feel that all that momentum feels like it has stalled.

Anyhoo that’s my tuppence worth all IMHO of course.


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[Since452]

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Fan ownership was never the plan.
It was about building up a sufficient share holding to prevent us being sold down the river in the future.
I take it Wallace Mercer was before your time?
History is something to learn from.

I was young but I remember it well. Just never been interested in owning shares in Hibs. Always paid in to bolster the transfer budget. For every Wallace Mercer there is a Ron Gordon. Hearts are now in a position where a guy like Ron can't come in and take them to the next level.

[Pagan Hibernia]

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I was young but I remember it well. Just never been interested in owning shares in Hibs. Always paid in to bolster the transfer budget. For every Wallace Mercer there is a Ron Gordon. Hearts are now in a position where a guy like Ron can't come in and take them to the next level.

Or they’re in a position where a guy like Romanov can’t ruin them. There really isn’t that many Ron Gordons or Tom Farmers out there. We’ve been very lucky in that respect.

the football world is riddled with chancers, charlatans and predators. We need to be eternally vigilant.

[hibbysam]

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Or they’re in a position where a guy like Romanov can’t ruin them. There really isn’t that many Ron Gordons or Tom Farmers out there. We’ve been very lucky in that respect.

the football world is riddled with chancers, charlatans and predators. We need to be eternally vigilant.

I’d argue there are many more good owners than bad owners in football. You obviously hear more from the clubs with bad owners, but that’s few and far between. Newcastle and Man Utd - but then you have Chelsea, Man City, Leicester, Liverpool, Everton, Aston Villa.

I’d rather have the opportunity for a person to come in and take us on as a club as Ron is doing, than have a closed shop with very little investment possible.

[Diclonius]

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Get McTominay off now.

Agreed, leading HSL needs to be a full time job and he's too preoccupied with the whole Man Utd thing.

[Pagan Hibernia]

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I’d argue there are many more good owners than bad owners in football. You obviously hear more from the clubs with bad owners, but that’s few and far between. Newcastle and Man Utd - but then you have Chelsea, Man City, Leicester, Liverpool, Everton, Aston Villa.

I’d rather have the opportunity for a person to come in and take us on as a club as Ron is doing, than have a closed shop with very little investment possible.

I suppose people will have their own opinions on what are ‘good owners’.

the likes of the Man City ones, they’ve clearly brought success but they’re not people I’d want anywhere near Hibs. Other people will obviously disagree.

[hibbysam]

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I suppose people will have their own opinions on what are ‘good owners’.

the likes of the Man City ones, they’ve clearly brought success but they’re not people I’d want anywhere near Hibs. Other people will obviously disagree.

While they’ve bought success, they’ve also invested incredibly high amounts into the community to transform that area of Manchester. Outstanding owners who, if they were in it for the wrong reasons, wouldn’t waste money on such projects.

[Pagan Hibernia]

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While they’ve bought success, they’ve also invested incredibly high amounts into the community to transform that area of Manchester. Outstanding owners who, if they were in it for the wrong reasons, wouldn’t waste money on such projects.

again, you might not care where the money comes from. I do.

[CMurdoch]

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I was young but I remember it well. Just never been interested in owning shares in Hibs. Always paid in to bolster the transfer budget. For every Wallace Mercer there is a Ron Gordon. Hearts are now in a position where a guy like Ron can't come in and take them to the next level.

The transfer budget is temporary, shares are forever security. Like going on holiday instead of putting a deposit down on a flat. Nice at the time but quickly gone.
As for Ron Gordon, none of us really know what his end game will be but he is no benevolent owner like Tom Farmer.
He is a businessman so he is like Wallace Mercer but with more money.
He has prevented his shareholding from being diluted by shutting HSL out and has all the club assets tied up so we are firmly at his mercy. Similarly he has culled most of the high level staff and replaced them with his own people. All standard business practice.

As for the next level. The only real one available to Hibs is improving sufficiently to make the European Conference Group Stage and thereby unlocking cash rewards. The plan for real team improvement won't come about through direct investment by the owner. It will come initially from reinvested money from player sales and then added to by European prize money if we can reach it. Then rinse and do it again.
That plan is on the launch pad and significant progress can't start until player sales start bearing fruit.

FWIW I think Ron Gordon has played a blinder so far and I think we have struck as lucky as possible on the owner front but the game has only just begun.
As for Hearts, ownership means neither the club nor parts of it can ever be sold out from under their supporters. Their future is in their own hands if they stick together.

[BSEJVT]

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Or they’re in a position where a guy like Romanov can’t ruin them. There really isn’t that many Ron Gordons or Tom Farmers out there. We’ve been very lucky in that respect.

the football world is riddled with chancers, charlatans and predators. We need to be eternally vigilant.

100% correct

Under the pre Ron Gordon arrangements the main reason for my contributing was for HSL to get to 25%, with all that power to prevent harm such a shareholding brings, the fact that the money went into the budget was a Brucie bonus.

A team's playing performance waxes and wanes, often for no reason you can tell, so bolstering the budget was never a big issue for me, although I do regret the massive advantage Hearts have over us in this regard.

Thankfully they have wasted that advantage to date, but by pure dumb luck one day it will be brought to bear and will harm us

It was really important to me to have a Hibs for my grandchildren to follow and for them to be "invested" in it

The minute my donations stopped helping to safeguard that likelihood they stopped and won't be restarted until they can once again.

In the interim I buy, or try to if the donation bit can ever work, them membership of HSL

[Iggy Pope]

Anyone in HSL with the requisite skills have an appetite for producing a ‘pirate’ match day programme, all proceeds to HSL?

[ahibby]

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The transfer budget is temporary, shares are forever security. Like going on holiday instead of putting a deposit down on a flat. Nice at the time but quickly gone.
As for Ron Gordon, none of us really know what his end game will be but he is no benevolent owner like Tom Farmer.
He is a businessman so he is like Wallace Mercer but with more money.
He has prevented his shareholding from being diluted by shutting HSL out and has all the club assets tied up so we are firmly at his mercy. Similarly he has culled most of the high level staff and replaced them with his own people. All standard business practice.

As for the next level. The only real one available to Hibs is improving sufficiently to make the European Conference Group Stage and thereby unlocking cash rewards. The plan for real team improvement won't come about through direct investment by the owner. It will come initially from reinvested money from player sales and then added to by European prize money if we can reach it. Then rinse and do it again.
That plan is on the launch pad and significant progress can't start until player sales start bearing fruit.

FWIW I think Ron Gordon has played a blinder so far and I think we have struck as lucky as possible on the owner front but the game has only just begun.
As for Hearts, ownership means neither the club nor parts of it can ever be sold out from under their supporters. Their future is in their own hands if they stick together.

And when they own their club and it makes a million or more loss in a financial year they are committed financially enough to chip in and clear it Not many clubs gave those kind of fans.

[ahibby]

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I don't even notice the money leaving my account any more. And this is why the tarts have been successful and maintained the foh money. They HAD to do it to start with to save the club. Now it's become a habit and their £10 a month isn't even noticed anymore. We on the other hand had Hibs fans calling it a Ponzi scheme and downcried it from the start.
I was never interested in having shares in the club all I wanted was another avenue to give money, TAX FREE, to Hibs. I probably agree that there could/should have been some kind of monthly prize or similar for contributors to win, comms could be better, support from the club could be better etc but as I say I don't even notice my small donation each month so won't stop contributing

Agree. That could have been my post word for word

[Gerard]

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100% correct

Under the pre Ron Gordon arrangements the main reason for my contributing was for HSL to get to 25%, with all that power to prevent harm such a shareholding brings, the fact that the money went into the budget was a Brucie bonus.

A team's playing performance waxes and wanes, often for no reason you can tell, so bolstering the budget was never a big issue for me, although I do regret the massive advantage Hearts have over us in this regard.

Thankfully they have wasted that advantage to date, but by pure dumb luck one day it will be brought to bear and will harm us

It was really important to me to have a Hibs for my grandchildren to follow and for them to be "invested" in it

The minute my donations stopped helping to safeguard that likelihood they stopped and won't be restarted until they can once again.

In the interim I buy, or try to if the donation bit can ever work, them membership of HSL

HSL is the second largest share holder in our club and it is equitable that it has one director on the Hibs board to protect its share holders. Mr Ronald J Gordon has almost 67 percent of the shares in our club and determines who serves on the board of directors and the clubs direction.
I think it is unfortunate that many people who have a very small share holding in the club can’t give their shares to HSL or anybody else because they are not being given the permission of the club to do so. The transfer of such a small amount of shares does not challenge the authority of the principal share holder in any way. I hope that this decision can in time be revisited and changed to permit the transfer of shares by share holders who want to transfer their shares.

[Ronniekirk]

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I don't even notice the money leaving my account any more. And this is why the tarts have been successful and maintained the foh money. They HAD to do it to start with to save the club. Now it's become a habit and their £10 a month isn't even noticed anymore. We on the other hand had Hibs fans calling it a Ponzi scheme and downcried it from the start.
I was never interested in having shares in the club all I wanted was another avenue to give money, TAX FREE, to Hibs. I probably agree that there could/should have been some kind of monthly prize or similar for contributors to win, comms could be better, support from the club could be better etc but as I say I don't even notice my small donation each month so won't stop contributing

This fir me a tenner a month is nothing really


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[Daniel 1875]

Hi folks, just a wee update. Contributions for August, September and October are on their way to the club - a total of £55,909 donated by the first class Hibs support which takes total donations to the club over £500,000 since July 2019.

As the club's second largest shareholder and more importantly as a large group of supporters I think we can all agree we've taken our responsibility seriously and done our bit for Hibs over the last couple of years, hats off to every one of you.

Form on the pitch is poor at the moment but the ongoing backing from over around 4,000 ordinary Hibees continues to be first class.

We are hopeful there will be news of a formal AGM in due course, where we hope to bring Hibernian Supporters up to date with current circumstances.

Website update can be read here.

Thanks as always for your support, understanding and patience.