The generic Hearts thread

[RoYO!]

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In her first statement a few weeks ago she stated that ‘we have asked all full time employees, managers, coaches, players and player back room staff, with effect from the beginning of April, to accept a 50% cut in their monthly salary, with the following caveats’

The caveats being living wage, no player would fall below this so they will be taking the full 50%, she had no idea how long for, and also anyone who didn’t agree could leave.

Now she is saying no one was asked to take a 50% cut... and those muppets are lapping it up 😂 she’s got them on strings.

For any Duncan's looking in...

Have a read of that.

[Billy Whizz]

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The taxpayer is not paying the players. The maximum is £2,500 per month.

Crops, how would a club account for this up to, £2,500 per person
Would it go against revenue, which could be taxed at year end?

[Ozyhibby]

Hearts are topping up the rest of the players wages above the £2500 a month. They have to because they have not agreed any cuts with their players.


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[CropleyWasGod]

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They’re paying every player £2,500 per month are they not, whilst we’re not using tax payers money to cover our players wages?

I don't know what every player is earning, so I can't say. If they're earning over £2,500 per month, they won't get any more from the taxpayer. The club can choose to pay more


As for us, we don't yet know if the players are being furloughed.

[Deansy]

'......... and indeed one of our younger players is refusing to take any wages at all over this period'



Guaranteed she's talking about one of their schoolboy signings !

[Real Emerald]

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Hearts are topping up the rest of the players wages above the £2500 a month. They have to because they have not agreed any cuts with their players.


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Imagine asking the government to donate £2,500 a month to players on £6k per week. It’s a joke.

[Sergio sledge]

There's a couple of crazy things about that statement.

1. They're paying a high basic wage and lower bonuses, you can see why Naismith and Boyce signed for them, no incentive to play, play well and win. They'll still get their high wages no matter what. There's a balance to be struck between wages and bonuses to sign players and keep them motivated and I think you can see from the state of their performances that they've gone too far on the wages side and it has demotivated the players.

2. Why is she mentioning "football debts that can't be written off?" The only situation that this would matter would be if they went into administration. She must be concerned that this is a possibility for hearts if she is mentioning it...

[hibbyfraelibby]

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Aye you can. You just can’t do any work.

The furlough.money is paid through your employer's payroll sysyem not directly and it comes with strings. The government will also pay the NI and pension contribition up to £300 p/m

From the Treasury guidance

What does furlough mean?


"While furloughed employees still technically retain their jobs, the furlough itself means that they cease working for their employers and do not earn a salary. The idea is that this is a temporary arrangement, and workers will one day be able to return to their jobs."

[CropleyWasGod]

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Crops, how would a club account for this up to, £2,500 per person
Would it go against revenue, which could be taxed at year end?

It's taxable. But the employer also pays out, so it's neutral in tax terms.

[hibbyfraelibby]

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The employer can continue to ‘top up’ wages if they want to, on top of the governments 80%.

What does furlough mean?
‘Furloughed worker’ is not a recognised term in UK employment law, although it is commonly used in the US. Government guidance says someone is furloughed if they remain employed but are not undertaking work. To furlough means to “lay off or suspend temporarily”, usually without pay. In the UK, the legal term would be “laid off”.

While furloughed employees still technically retain their jobs, the furlough itself means that they cease working for their employers and do not earn a salary. The idea is that this is a temporary arrangement, and workers will one day be able to return to their jobs."

[B.H.F.C]

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The furlough.money is paid through your employer's payroll sysyem not directly and it comes with strings. The government will also pay the NI and pension contribition up to £300 p/m

From the Treasury guidance

What does furlough mean?


"While furloughed employees still technically retain their jobs, the furlough itself means that they cease working for their employers and do not earn a salary. The idea is that this is a temporary arrangement, and workers will one day be able to return to their jobs."

Employer can still top it up.

[CropleyWasGod]

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Imagine asking the government to donate £2,500 a month to players on £6k per week. It’s a joke.

Every other company in the UK will likely be doing it, so why shouldn't they?

[greenginger]

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It may be the auditors/accountants who are delaying finalising the accounts or Auditor's Report. The CV is a pretty big Post Balance Sheet event, and its implications for Bidco could be huge. If that's their view, it's wise to delay their publication.

It wouldn't surprise me if many auditors are taking that view just now.

It hasn’t prevent our accounts being submitted to Companies House.

[Real Emerald]

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I don't know what every player is earning, so I can't say. If they're earning over £2,500 per month, they won't get any more from the taxpayer. The club can choose to pay more


As for us, we don't yet know if the players are being furloughed.

I understand what it means but they appear to be taking government funds to cover some of all their players wages. Players they couldn’t afford to sign and a few who are reputed to be on £6k a week. They have benifactors ploughing in millions to make them the big team but are happy to sit back and let the government bail them out!

[CropleyWasGod]

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What does furlough mean?
‘Furloughed worker’ is not a recognised term in UK employment law, although it is commonly used in the US. Government guidance says someone is furloughed if they remain employed but are not undertaking work. To furlough means to “lay off or suspend temporarily”, usually without pay. In the UK, the legal term would be “laid off”.

While furloughed employees still technically retain their jobs, the furlough itself means that they cease working for their employers and do not earn a salary. The idea is that this is a temporary arrangement, and workers will one day be able to return to their jobs."

They can pay 100% if they want.

[CropleyWasGod]

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It hasn’t prevent our accounts being submitted to Companies House.

They were signed off by the auditors pre CV, or at least before the full implications became known

[Billy Whizz]

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There's a couple of crazy things about that statement.

1. They're paying a high basic wage and lower bonuses, you can see why Naismith and Boyce signed for them, no incentive to play, play well and win. They'll still get their high wages no matter what. There's a balance to be struck between wages and bonuses to sign players and keep them motivated and I think you can see from the state of their performances that they've gone too far on the wages side and it has demotivated the players.

2. Why is she mentioning "football debts that can't be written off?" The only situation that this would matter would be if they went into administration. She must be concerned that this is a possibility for hearts if she is mentioning it...

On point 2, how much have they got outstanding in transfer and loan payments

[hibbysam]

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What does furlough mean?
‘Furloughed worker’ is not a recognised term in UK employment law, although it is commonly used in the US. Government guidance says someone is furloughed if they remain employed but are not undertaking work. To furlough means to “lay off or suspend temporarily”, usually without pay. In the UK, the legal term would be “laid off”.

While furloughed employees still technically retain their jobs, the furlough itself means that they cease working for their employers and do not earn a salary. The idea is that this is a temporary arrangement, and workers will one day be able to return to their jobs."

I’m not sure what part is difficult here, but the government have made it very clear that employers can still pay the employee 100%. The only caveat so to speak is that they don’t carry out any work during this time.

[CropleyWasGod]

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I understand what it means but they appear to be taking government funds to cover some of all their players wages. Players they couldn’t afford to sign and a few who are reputed to be on £6k a week. They have benifactors ploughing in millions to make them the big team but are happy to sit back and let the government bail them out!

Are other clubs not doing that, though?

Are we?

[Zambernardi1875]

Hearts taking advantage of the furloughed option will then have a financial advantage when things go back to normal then no?

[Keith_M]

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Just read 8-10 lines of her statement.

She is a liar. Pure and simple. No player was asked to take a 50% pay cut. Lies

...

That sounds like Trump when quoted his previous statement on the Coronavirus that completely contradicts what he's saying now... he just replied "Fake News".

Maybe he went to Tynecastle for advice as well.

[Joe6-2]

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Sick of her rambling and I'm not even a Jambo 😂

Of course you’re not, or you’d believe it

[G B Young]

I've lost track of where Hearts are going with all this. Budge seems to change her tune with the wind. Fair to say she lost the plot some time ago.

[Ozyhibby]

Hibs have furloughed the players as well. All clubs will. Be mad not too.
Hearts are having to top their players wages up to the full amount though, unlike us.


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[Lee Marvin]

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Are other clubs not doing that, though?

Are we?

Let's be honest, we are missing a trick and will be paying out a lot more than our competition if we are not doing it.

The difference being we are not demanding our players take a pay cut, unlike the dictatorship across the road

[CropleyWasGod]

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Hearts taking advantage of the furloughed option will then have a financial advantage when things go back to normal then no?

Over whom?

Raith Rovers and Arbroath?

[Real Emerald]

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Are other clubs not doing that, though?

Are we?

I presumed our back room staff are on the scheme but the players are deferring between 20% and 50% of their wages until its over and the club can pay back the missing wages. There is no mention of our players taking any furlough payments. I just find it ridiculous that a footballer earning more than the prime minister is willing to take hand outs from the government at this time. These benefactors will be back ploughing money into Hearts as soon as they see an angle to take advantage of teams who are struggling through, it boils my blood what they get away with, it’s years and years of spending beyond their means and getting bailed out. Then they ran it down your throat how big they are, it’s disgusting IMO.

[Billy Whizz]

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Hearts taking advantage of the furloughed option will then have a financial advantage when things go back to normal then no?

Not really. If Boyce is on say £24k per month, they are still having to pay the difference, a wee saving but not much

[Peevemor]

The u-turns being made on JKB from what they were saying after our statement to what they're now saying after Budge's are hilarious.

What a bunch of cocks.

[CropleyWasGod]

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I presumed our back room staff are on the scheme but the players are deferring between 20% and 50% of their wages until its over and the club can pay back the missing wages. There is no mention of our players taking any furlough payments. I just find it ridiculous that a footballer earning more than the prime minister is willing to take hand outs from the government at this time. These benefactors will be back ploughing money into Hearts as soon as they see an angle to take advantage of teams who are struggling through, it boils my blood what they get away with, it’s years and years of spending beyond their means and getting bailed out. Then they ran it down your throat how big they are, it’s disgusting IMO.

As has been said, we'd be daft not to.

And the club statement is fairly clear that we are.