You would expect the unmatched businesswoman that is Ann Budge would also have such insurance in place. Or maybe not.This quote is hidden because you are ignoring this member. Show Quote
The fallacy over at the wee ground must be getting worn out now.
Results 31 to 60 of 81
Thread: Hibernian FC Finances
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19-03-2020 03:33 PM #31
Last edited by Since90+2; 19-03-2020 at 03:38 PM.
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19-03-2020 03:42 PM #32This quote is hidden because you are ignoring this member. Show Quote
Hibs are in a good position as can be - business interruption insurance or similar insurance is in place for most clubs, including ours, but that’s an unknown world in unprecedented times - dealings & conversations possibly a long drawn out process? Especially given the number one focus for the country.
Hibs have been very thorough and quick in the background to all of this so far (were preparing for a game on the Saturday this time last week!). Impressed how they’ve mobilised staff, put out a number of video, interviews and content updates to supporters (more to come) and moved forward with a robust business continuity plan.
Expect to hear more from them soon as this has all landed when Season Tickets were about to launch - our biggest income driver - See what next week brings and an update where we are.
(Wouldn’t worry about the filing - my short experience shows that is very slow at being uploaded despite returned correctly - the available records highlight time differences).
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19-03-2020 04:37 PM #33
I think I'll worry about finances closer to home through all this rather than "what ifs" and "whatabouteries" on here
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19-03-2020 05:23 PM #34This quote is hidden because you are ignoring this member. Show Quote
My missus has already threatened me with bodily harm a few times.
I like to think of it as foreplay..
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19-03-2020 05:52 PM #35This quote is hidden because you are ignoring this member. Show Quote
they haven’t even missed a home game yet have they?
it smells very fishy
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19-03-2020 06:08 PM #36
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What I think Budgie has done is in a way admirable, her team cannot play games or train, and although they are contracted to be paid in full, its a measure to safe guard their club as a whole.
I don't think they will be the only club going down this route, others will follow sooner rather than later.
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19-03-2020 06:31 PM #37This quote is hidden because you are ignoring this member. Show Quote
Surely they could have waited a couple of weeks and had a proper conversation with staff, could even have asked the players to pay all support and admin staff salaries.
I agree others will follow but I just hope they give staff time and have open and honest conversation around why this has to happen now.
Look at what happened to Berra there is no loyalty in football clubs empty players like sour milk.Last edited by Sammy7nil; 19-03-2020 at 06:34 PM.
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19-03-2020 06:51 PM #38
I'm sure I read on the bbc website that clubs are contractually obliged to refund single tickets but not season tickets - in full or partially. I've got 4 season tickets and wouldn't want any form of refund.
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19-03-2020 07:16 PM #39
We'd be entitled to our money back if the season is voided (as would sponsors, TV companies etc) because that would mean that season 19/20 never happened.
But if the season is concluded in any manner (including the current standings becoming final), then the season has taken place and we don't get a penny.Mature, sensible signature required for responsible position. Good prospects for the right candidate. Apply within.
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19-03-2020 07:26 PM #40
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On the subject of “Business Interruption Insurance” I was listening to some expert on Radio Scotland yesterday who was saying that insurance companies are not going to pay out on this. His opinion was that when companies check their policy they will find that they are insured for “any known virus” As this is a new virus the insurers will not pay out.
He did say that some larger companies may have paid extra to have the word “known” removed but for most it would be a no show from insurers.
Maybe an insurance expert can come along and tell us what the situation might be but it stuck me that it sounded like a very unfair get out for insurers if it was true.
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19-03-2020 07:33 PM #41
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19-03-2020 07:33 PM #42This quote is hidden because you are ignoring this member. Show Quote
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19-03-2020 07:33 PM #43
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Not really unfair if that is a policy condition - read before you sign. Insurers are infamous for offering a lot less than you thought you were getting but it is somebody's job to check the small print.
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19-03-2020 07:34 PM #44This quote is hidden because you are ignoring this member. Show Quote
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19-03-2020 07:37 PM #45
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19-03-2020 07:42 PM #46This quote is hidden because you are ignoring this member. Show Quote
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19-03-2020 07:47 PM #47This quote is hidden because you are ignoring this member. Show Quote
Last edited by Iggy Pope; 19-03-2020 at 07:49 PM.
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19-03-2020 08:01 PM #48This quote is hidden because you are ignoring this member. Show Quote
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19-03-2020 08:03 PM #49
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19-03-2020 09:46 PM #50This quote is hidden because you are ignoring this member. Show Quote
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19-03-2020 10:21 PM #51
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Every policy is different. It being declared both a "notifiable disease" and also a "pandemic" will help, as these are phrases that are often used. The comment around "new diseases" someone mentioned isn't something I've seen before, I'd be more wary of exclusions around "contagious diseases". Every additional level of cover will have cost more in premiums, so I suspect it'll be a case of some can claim and some can't, the ones who can are the ones who had the proper insurance.
Just calling out on insurance companies to pay would also be irresponsible, as in that scenario (where they are paying when they shouldn't have been) may well put some of them to the wall, and possibly end up in the companies who had the correct insurance, not being paid what they are due
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19-03-2020 10:27 PM #52
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19-03-2020 10:53 PM #53
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... and there is the first failure for the insurance companies argument in a court case I'd imagine. Although I suspect it would take a very expensive and drawn out court case to decide that I am right lolSpace to let
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19-03-2020 11:00 PM #54This quote is hidden because you are ignoring this member. Show Quote
Its the Covid-19 part that is new
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20-03-2020 01:38 AM #55
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- The accounts haven't been filed yet - they are to be filed by 31 March at the latest. The later than normal filing struck me as a little unusual but it's not a major concern. I presume there's nothing to hide in the accounts.
- There are two charges held over the assets of the club (one being over the training ground and one being over the stadium itself). These were registered on 16 July and 12 August and held by Bydand Sports LLC (RG's Holding Company) over the club:
https://beta.companieshouse.gov.uk/c...filing-history
I haven't seen these charges over HFC's assets discussed at all on this board. The major concern is whether anyone has a charge over the assets of Bydand Sports LLC which in effect means they are holding a position over the club. It's not possible to see if there are any charges over Bydand as it's a Delaware LLC and as such almost impossible to find out any information about. Considering the turmoil in the financial markets at the moment, the biggest risk to Hibs appears to be these charges. I don't suppose we would ever find out if there are any further charges up the chain until any rights are exercised but I do think it's a risk that needs to be discussed.
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20-03-2020 05:06 AM #56This quote is hidden because you are ignoring this member. Show Quote
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20-03-2020 05:17 AM #57This quote is hidden because you are ignoring this member. Show Quote
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20-03-2020 05:46 AM #58
At the AGM it was stated that we had £5.5 million cash in the bank I would hope this would see us through to what would have been the end of the season. Can someone who does pols put one up regarding season tickets for next season ie who has budgeted for who has one this year but wont afford one next year. Any suggestions to get a feel for sales next year. Thank you in anticipation.
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20-03-2020 06:06 AM #59This quote is hidden because you are ignoring this member. Show Quote
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20-03-2020 06:12 AM #60This quote is hidden because you are ignoring this member. Show Quote
My understanding is that while there is a standing charge held, it is irrelevant unless money is borrowed from Bydand - we haven't borrowed anything therefore it's not active.
The charge is in place to give us the option of borrowing if we need it.Follow the Hibs podcast, Longbangers, on Twitter (@longbangers)
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