The generic Hearts thread

[FilipinoHibs]

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This is much more likely than some of the wild speculation on here.

Government action is necessary but unavoidably will allow bad businesses to hide amongst the good ones who are suffering solely due to external factors.

But the problem is no money in the bank, none coming in and no overdraft facility. They will run out of money in April and literally have to close down. Unless of course FOH £2.2 million for the shares can be used to keep club running for two to three months. No wonder Budge has not handed over the shares yet.

[jacomo]

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But the problem is no money in the bank, none coming in and no overdraft facility. They will run out of money in April and literally have to close down. Unless of course FOH £2.2 million for the shares can be used to keep club running for two to three months. No wonder Budge has not handed over the shares yet.

The monthly FOH support will still be coming in, no?

[04Sauzee]

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The monthly FOH support will still be coming in, no?

Season tickets to go on sale in the coming days if the EEN is to be believed

[cocteautwin]

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But the problem is no money in the bank, none coming in and no overdraft facility. They will run out of money in April and literally have to close down. Unless of course FOH £2.2 million for the shares can be used to keep club running for two to three months. No wonder Budge has not handed over the shares yet.

The way I see it, they said they were going to be short of £1m of income but didn’t really say anything about the benefactor disappearing. I think it’s a smokescreen and I don’t think they’ll be as short of cash as they want people to believe, but are using the crisis as an ugly method of dumping most of an underperforming team that’s taken them to bottom of the league.

With the sheer size of the amounts of money pouring in to the club over the past few years, the benefactor is probably smart enough to be making money when the markets are going down as well as when they are going up.

My guess is they are still being supported by the benefactor. I’d imagine along with the extra £5-6m they’ll have needed this financial year we’ll still see a similar amount flowing in within financial year 2020/21.

Mere speculation but we won’t really know this until their 2021 accounts are published late 2021 or early 2022, by which time they’ll be hoping Scottish football will have long forgotten about their poverty claim in March 2020.

[Hibs4185]

I think Budge will have to put the FOH money she has just received back into the club. The donations are still strong so she will get her cash back in another 2 years.

Couple of problems though. That £2.4 million is only enough for 2 months outgoings.

They don’t know which league they are playing in so difficult to sell season tickets

FOH money, whilst a great resource, is only a drop in the ocean compared to their expenses.

I’ve no doubt they will limp on but their position is absolutely hilarious

[Heisenberg]

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Season tickets to go on sale in the coming days if the EEN is to be believed

They must be confident on what division they’ll be in then? Or they are happy to sell folk tickets regardless.

[G B Young]

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They must be confident on what division they’ll be in then? Or they are happy to sell folk tickets regardless.

Presumably they would just keep the prices the same for the Championship as they would have for the top flight and say that they hope fans understand in the current circumstances.

[hibbyfraelibby]

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Govt has given business permission to trade while insolvent so we won’t hear anything. Interesting that there has been no white smoke on a deal with their players though. Negotiations must be trickier than they thought.


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No the government hasn't. What it has done is relax the regulations, personal liabilities, and penalties on directors of firms who are knowingly trading insolvently. Not quite a carte blanche to trade insolvently.

[Ronniekirk]

URFA meeting this Wednesday will give more clarity to Clubs on way forward


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[G B Young]

Apologies if this has already been flagged up. I must have missed it if so.


'Catastrophic Hearts' would deserve relegation
by Paul Forsyth

Ian Murray, an early driving force behind the Foundation of Hearts, has described as a “total and utter disgrace” the club’s failure to have made more of the £10 million ploughed into it by supporters during the last seven years.
That was the total reached yesterday by the fans group, of which the Labour MP was chairman in 2013. Since then, it has helped the club out of administration and acquired nearly 8,000 members who will eventually assume ownership from Ann Budge, the majority shareholder.
That transition, originally scheduled for next month, was officially put on hold yesterday because of the coronavirus crisis which has plunged Hearts into trouble on and off the pitch. Not only have they asked their staff to take a 50 per cent wage cut, but the team stand on the brink of relegation from the Ladbrokes Premiership.
Amid doubts as to whether the suspended season will ever resume, Murray says that fans who have invested so much in the club deserve an explanation for the “catastrophic” failures that have left them four points adrift at the foot of the table, with serious financial difficulties.
“If Hearts get relegated, they thoroughly deserve it, by a long way,” he says. “To only win four [league] games with the kind of money that has been spent on that squad, with the kind of players we have got, is a total and utter disgrace. It’s an embarrassment.

"Of the four games they have won, two have been against Hibs and one against Rangers. That tells you there is an attitude problem. And that’s the thing that upsets the Hearts fans more than anything else, especially in the context of putting in 10 million quid.”
Budge yesterday issued a statement in which she insisted that Hearts were in no more financial trouble than any other Scottish club. While Murray is not critical of the decision to reduce salaries, he is frustrated that the club are in such an unhealthy position.
Despite the pandemic, fans are still signing up to the Foundation of Hearts and donating by direct debit. Murray believes there should be more to show for those fundraising efforts, which repaid Budge’s initial investment, part-funded the redevelopment of Tynecastle and provided the club with £4.5 million in working capital.
“Ten million quid is a lot of money,” he says. “And the club looks as if it is in financial trouble because this crisis has hit. Yes, of course, we have built a new stand, but it doubled in price. There have to be big questions asked about that. Player recruitment . . . the amount of money that has been paid on a squad for managers that have not delivered . . . and they have not delivered by a catastrophic amount for a club like Hearts with all the money that the fans are putting in. It’s £10 million on top of record revenues for the club. These are difficult questions, but they are questions that fans who are still contributing to the foundation in this crisis have a right to ask. And they deserve answers.”

[cocteautwin]

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Apologies if this has already been flagged up. I must have missed it if so.


'Catastrophic Hearts' would deserve relegation
by Paul Forsyth

Ian Murray, an early driving force behind the Foundation of Hearts, has described as a “total and utter disgrace” the club’s failure to have made more of the £10 million ploughed into it by supporters during the last seven years.
That was the total reached yesterday by the fans group, of which the Labour MP was chairman in 2013. Since then, it has helped the club out of administration and acquired nearly 8,000 members who will eventually assume ownership from Ann Budge, the majority shareholder.
That transition, originally scheduled for next month, was officially put on hold yesterday because of the coronavirus crisis which has plunged Hearts into trouble on and off the pitch. Not only have they asked their staff to take a 50 per cent wage cut, but the team stand on the brink of relegation from the Ladbrokes Premiership.
Amid doubts as to whether the suspended season will ever resume, Murray says that fans who have invested so much in the club deserve an explanation for the “catastrophic” failures that have left them four points adrift at the foot of the table, with serious financial difficulties.
“If Hearts get relegated, they thoroughly deserve it, by a long way,” he says. “To only win four [league] games with the kind of money that has been spent on that squad, with the kind of players we have got, is a total and utter disgrace. It’s an embarrassment.

"Of the four games they have won, two have been against Hibs and one against Rangers. That tells you there is an attitude problem. And that’s the thing that upsets the Hearts fans more than anything else, especially in the context of putting in 10 million quid.”
Budge yesterday issued a statement in which she insisted that Hearts were in no more financial trouble than any other Scottish club. While Murray is not critical of the decision to reduce salaries, he is frustrated that the club are in such an unhealthy position.
Despite the pandemic, fans are still signing up to the Foundation of Hearts and donating by direct debit. Murray believes there should be more to show for those fundraising efforts, which repaid Budge’s initial investment, part-funded the redevelopment of Tynecastle and provided the club with £4.5 million in working capital.
“Ten million quid is a lot of money,” he says. “And the club looks as if it is in financial trouble because this crisis has hit. Yes, of course, we have built a new stand, but it doubled in price. There have to be big questions asked about that. Player recruitment . . . the amount of money that has been paid on a squad for managers that have not delivered . . . and they have not delivered by a catastrophic amount for a club like Hearts with all the money that the fans are putting in. It’s £10 million on top of record revenues for the club. These are difficult questions, but they are questions that fans who are still contributing to the foundation in this crisis have a right to ask. And they deserve answers.”

£10m is indeed a lot of money Ian. Don’t forget that other £15m from the benefactor as well. That’s a lot of money too.


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[Bostonhibby]

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Apologies if this has already been flagged up. I must have missed it if so.


'Catastrophic Hearts' would deserve relegation
by Paul Forsyth

Ian Murray, an early driving force behind the Foundation of Hearts, has described as a “total and utter disgrace” the club’s failure to have made more of the £10 million ploughed into it by supporters during the last seven years.
That was the total reached yesterday by the fans group, of which the Labour MP was chairman in 2013. Since then, it has helped the club out of administration and acquired nearly 8,000 members who will eventually assume ownership from Ann Budge, the majority shareholder.
That transition, originally scheduled for next month, was officially put on hold yesterday because of the coronavirus crisis which has plunged Hearts into trouble on and off the pitch. Not only have they asked their staff to take a 50 per cent wage cut, but the team stand on the brink of relegation from the Ladbrokes Premiership.
Amid doubts as to whether the suspended season will ever resume, Murray says that fans who have invested so much in the club deserve an explanation for the “catastrophic” failures that have left them four points adrift at the foot of the table, with serious financial difficulties.
“If Hearts get relegated, they thoroughly deserve it, by a long way,” he says. “To only win four [league] games with the kind of money that has been spent on that squad, with the kind of players we have got, is a total and utter disgrace. It’s an embarrassment.

"Of the four games they have won, two have been against Hibs and one against Rangers. That tells you there is an attitude problem. And that’s the thing that upsets the Hearts fans more than anything else, especially in the context of putting in 10 million quid.”
Budge yesterday issued a statement in which she insisted that Hearts were in no more financial trouble than any other Scottish club. While Murray is not critical of the decision to reduce salaries, he is frustrated that the club are in such an unhealthy position.
Despite the pandemic, fans are still signing up to the Foundation of Hearts and donating by direct debit. Murray believes there should be more to show for those fundraising efforts, which repaid Budge’s initial investment, part-funded the redevelopment of Tynecastle and provided the club with £4.5 million in working capital.
“Ten million quid is a lot of money,” he says. “And the club looks as if it is in financial trouble because this crisis has hit. Yes, of course, we have built a new stand, but it doubled in price. There have to be big questions asked about that. Player recruitment . . . the amount of money that has been paid on a squad for managers that have not delivered . . . and they have not delivered by a catastrophic amount for a club like Hearts with all the money that the fans are putting in. It’s £10 million on top of record revenues for the club. These are difficult questions, but they are questions that fans who are still contributing to the foundation in this crisis have a right to ask. And they deserve answers.”

He's right as well, but why have all the other flumps meekly put up with this for so long?

At least they kicked a hat when Romanov took them to the cleaners and utterly embarrassed the club as well.

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[jacomo]

Ian Murray, 2014:

“But everyone should have complete faith in Ann in the meantime. She’s a formidable businesswoman and we’re lucky to have her combine forces with the supporters whose direct debits have been keeping the club going.

“Nobody wants this to work more than Ann and it’s her personal capital on the line.

“The Hearts fans should feel comfortable with Ann on board at the club.”

https://www.dailyrecord.co.uk/sport/...e-club-3148250

Shades of George Foulkes and Vlad here... another time a Labour politician urged people to have complete faith in the new owner of Hearts, and then expressing doubts.

[Frankhfc]

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URFA meeting this Wednesday will give more clarity to Clubs on way forward


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Apologies if this has been posted already on here. I saw an article today outlining Fifa have issued advice that clubs should not be prepared to use the obscure Clause 12 as an excuse to alter player contracts. Apparently there's a Fifa ruling that supercedes national footballing authority ones. Clubs could be punished in several ways if found to have done so. If a player chooses to accept the change in contract that's a different matter and up to them but clubs cannot force players into reducing their terms and conditions.

[PatHead]

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Apologies if this has been posted already on here. I saw an article today outlining Fifa have issued advice that clubs should not be prepared to use the obscure Clause 12 as an excuse to alter player contracts. Apparently there's a Fifa ruling that supercedes national footballing authority ones. Clubs could be punished in several ways if found to have done so. If a player chooses to accept the change in contract that's a different matter and up to them but clubs cannot force players into reducing their terms and conditions.

Where was the article. Love to pass it on to some Jambos

[Garymcl]

Definitely have to share this on to couple of “head in the sand” jambos I know 😂

[Bostonhibby]

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Ian Murray, 2014:

“But everyone should have complete faith in Ann in the meantime. She’s a formidable businesswoman and we’re lucky to have her combine forces with the supporters whose direct debits have been keeping the club going.

“Nobody wants this to work more than Ann and it’s her personal capital on the line.

“The Hearts fans should feel comfortable with Ann on board at the club.”

https://www.dailyrecord.co.uk/sport/...e-club-3148250

Shades of George Foulkes and Vlad here... another time a Labour politician urged people to have complete faith in the new owner of Hearts, and then expressing doubts.

Are you suggesting politicians are populist opportunists who jump on and off whatever bandwagon suits their image at the time, then hope their audience don't notice the complete about face they later execute?


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[brog]

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Ian Murray, 2014:

“But everyone should have complete faith in Ann in the meantime. She’s a formidable businesswoman and we’re lucky to have her combine forces with the supporters whose direct debits have been keeping the club going.

“Nobody wants this to work more than Ann and it’s her personal capital on the line.

“The Hearts fans should feel comfortable with Ann on board at the club.”

https://www.dailyrecord.co.uk/sport/...e-club-3148250

Shades of George Foulkes and Vlad here... another time a Labour politician urged people to have complete faith in the new owner of Hearts, and then expressing doubts.

I'm not a fan of Ian Murray but TBF to him here that article was 5+ years ago & he's now the only politician of any hue who's actually questioning where the money's gone. I know Alex Salmond has been rather occupied recently but given the part he played in the last admin fiasco it would be good if he added his (considerable ) weight to the long overdue scrutiny.

[Frankhfc]

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Where was the article. Love to pass it on to some Jambos

Apologies. I don't have a link to the article. It was on the back of one of several newspapers I was having a quick shiftie at in Morrisons this morning. Definitely read that Fifa was issuing a warning not to use clause 12 as a means of which to force players into accepting contract alterations.

[PatHead]

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Apologies. I don't have a link to the article. It was on the back of one of several newspapers I was having a quick shiftie at in Morrisons this morning. Definitely read that Fifa was issuing a warning not to use clause 12 as a means of which to force players into accepting contract alterations.

Thanks. Done my visit to Morrisons so won't be able to get a look. Maybe someone else will have a link.

[ScottB]

Says a lot if the likes of Murray has finally piped up with some criticism...

[Kojock]

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Says a lot if the likes of Murray has finally piped up with some criticism...

Turns out according to kickback he’s a twat and they can’t believe why anyone would vote for him.

[Seveno]

What took Ian Murray so long. It has been an obvious basket case of a club for a long time. An earlier intervention by someone of his standing might have forced change.

[Kato]

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What took Ian Murray so long. It has been an obvious basket case of a club for a long time. An earlier intervention by someone of his standing might have forced change.

He had a book to sell.

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[DaveF]

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Turns out according to kickback he’s a twat and they can’t believe why anyone would vote for him.

Finally, some sense out of kickback 🙂

[Kato]

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He's right as well, but why have all the other flumps meekly put up with this for so long?

At least they kicked a hat when Romanov took them to the cleaners and utterly embarrassed the club as well.

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Hearts fans have a long and proud history of demonstrating against owners when things go awry.

They turned on Mercer when he stopped spending cash that they never had in the first place and long standing debts were catching up with him.

They attacked the team bus when the Pie-Man errm, stopped spending cash that they never had in the first place and long standing debts were catching up with him.

One of them kicked a hat once when a Lithuanian based Russian money launderer was putting them through more spin cycles than the Waltzers at Fun City. Made him think twice.

That tradition continues today, the owner they once hailed as the shrewdest, most business savvy operator in Scottish Football is now being called out as a, quote, "daft, slavering, brainless auld bat" across social media. This about turn comes after watching £28M+ raised through external sources being squandered on a squad fit for the drop and a brand new rust bucket of a stand.

They're a switched on bunch when it comes to monitoring their owners.

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[Bostonhibby]

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Hearts fans have a long and proud history of demonstrating against owners when things go awry.

They turned on Mercer when he stopped spending cash that they never had in the first place and long standing debts were catching up with him.

They attacked the team bus when the Pie-Man errm, stopped spending cash that they never had in the first place and long standing debts were catching up with him.

One of them kicked a hat once when a Lithuanian based Russian money launderer was putting them through more spin cycles than the Waltzers at Fun City. Made him think twice.

That tradition continues today, the owner they once hailed as the shrewdest, most business savvy operator in Scottish Football is now being called out as a, quote, "daft, slavering, brainless auld bat" across social media. This about turn comes after watching £28M+ raised through external sources being squandered on a squad fit for the drop and a brand new rust bucket of a stand.

They're a switched on bunch when it comes to monitoring their owners.

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If I recall correctly the big hat protest involved kicking what appeared to be a cossack hat.

They really don't do anything that well.

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[Jack]

He, Murray, did for his club what any one of us would do for Hibs. And at the start it all looked very good for them, goodwill all around jamboland. Millionaire saviour, 1,000s pumping in cash, lots of nice cakes to eat, chips.

I've thought for a while though that Budge has been like a rich kid in a sweetie shop. A fairly basic stand all of a sudden had bits and pieces added, some stuff at the last minute - that costs loads. But she didn't care cause she's got loadsamonry. As a jambo besotted with Harry Potter he was an automatic choice.

I think Murray saw the cluster**** on the horizon and bailed out.

He's still a twat.

[grunt]

Dan speaks to Sky

https://twitter.com/ScotlandSky/stat...269751297?s=20

[Smartie]

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Dan speaks to Sky

https://twitter.com/ScotlandSky/stat...269751297?s=20

Looks like he's doing a few jigsaws to keep himself busy.