Can we start a new thread discussing the situation as it relates to our own club? There’s a lot about the comedy finances at our near neighbours but not so much relating to our own financial position. We need to be careful what we celebrate, considering our previous history of laughing at our closest rival’s relegation only to follow them down the rabbit hole a few weeks later.
One does assume that we are in a relatively heathy position at the moment, having not overspent on anything but until the 2020 season’s accounts are published we won’t really know how high our wage bill is.
In relation to HFC’s finances, various points for discussion would be:
1. Why haven’t our accounts for 2019 been filed yet?
2. Is our wage bill high this year?
3. What charges are held over the assets of the club?
Aside from Celtic I am assuming we are the second healthiest club (financially) in Scotland. Can anyone refute this?
Point 3 is the most worrying for me. Are we likely to get caught up in the financial turmoil in the USA and get taken down by a stray charge over the stadium/training centre?
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Thread: Hibernian FC Finances
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19-03-2020 08:03 AM #1
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Hibernian FC Finances
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19-03-2020 08:07 AM #2
We have not even had one home game missed yet. In total it’s likely to be about £1m lost if we start next season on time. Scottish cup income may only be delayed. We should be able to cope so long as next season starts on time. We won’t know that until summer.
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19-03-2020 08:10 AM #3This quote is hidden because you are ignoring this member. Show QuoteMon the Hibs.
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19-03-2020 08:11 AM #4
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Any club who immediately put it to cut 50pct of all staff costs or start offering redundancies was living on the edge
Other clubs might go the same way but I'm really surprised hearts have moved so quickly
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19-03-2020 08:12 AM #5This quote is hidden because you are ignoring this member. Show Quote
Unknown is financial support from the owner and how he might provide or raise those funds if needed. I think we're probably in as good a place as we can be compared to most others and given the sudden and dramatic change in events
Dig in and get on with it tends to be our way, hopefully that continues.
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"I did not need any persuasion to play for such a great club, the Hibs result is still one of the first I look for"
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19-03-2020 08:26 AM #6
Budge stating they will lose £500,000 from the Scottish Cup semi not being played is being a tad misleading. Scottish Cup money is not budgeted for at the start of a financial year so is not lost income. Any money you receive from a cup run will be a bonus to the budget.
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19-03-2020 08:29 AM #7This quote is hidden because you are ignoring this member. Show Quote
Would be ambitious to have done that though, at the start of the year at least.
I think we used to (maybe still do) budget for the QF of each cup each year.Mon the Hibs.
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19-03-2020 08:30 AM #8This quote is hidden because you are ignoring this member. Show Quote
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"I did not need any persuasion to play for such a great club, the Hibs result is still one of the first I look for"
Sir Matt Busby
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19-03-2020 08:47 AM #9
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Assuming this season is ended early - won't the club have a contractual liability to refund ST holders for the 4/5 games that they've paid for but were cancelled? (Not saying most would want a refund - but in accounting terms it would affect the bottom line).
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19-03-2020 08:49 AM #10This quote is hidden because you are ignoring this member. Show QuoteThere is no such thing as too much yarn, just not enough time.
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19-03-2020 08:50 AM #11
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19-03-2020 08:51 AM #12
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Hasnt FOH put in nearly 9 million quid?
Absolutely crazy sums
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19-03-2020 08:52 AM #13This quote is hidden because you are ignoring this member. Show Quote
Our wage bill was within the 60% wages to turnover recommendation (think we were at 59%, from memory) - higher than previous years but within the healthy limit.
No charges are held over the club unless we borrow, which we haven't.Follow the Hibs podcast, Longbangers, on Twitter (@longbangers)
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19-03-2020 08:55 AM #14This quote is hidden because you are ignoring this member. Show Quote
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19-03-2020 08:56 AM #15This quote is hidden because you are ignoring this member. Show Quote
Last edited by Topographic Hibby; 19-03-2020 at 09:53 AM. Reason: crap wording...
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19-03-2020 08:56 AM #16
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19-03-2020 08:56 AM #17
I'm not an accountant perhaps one of the lads that are can clarify but I would have thought cash at hand would be separate from the clubs working funds ie in addition to.
I'm sure STF mentioned he was leaving g the club in a very very healthy cash state
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19-03-2020 09:02 AM #18This quote is hidden because you are ignoring this member. Show Quote
Budge brother in law (hibby) busineee is in better shape than its ever been given the stand work. Estimates like £1.5m to fit out the 4th floor seem high but what do I know 👀
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19-03-2020 09:45 AM #19
Hibernian FC Finances
Am I not right in saying that a large proportion of our players wages are bonus related?? Win bonus, clean sheet bonus, goal scoring bonus.. so we would be saving in this regard. Also with the training centre partially closed and the ground not in use surely bills will be getting saved here too??
Granted not enough to break even by any stretch of the imagination but a saving none the less.
I also could be spouting absolute bollox
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19-03-2020 10:10 AM #20This quote is hidden because you are ignoring this member. Show QuoteFollow the Hibs podcast, Longbangers, on Twitter (@longbangers)
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19-03-2020 10:19 AM #21This quote is hidden because you are ignoring this member. Show Quote
BTW The accounts haven't been filed at Companies House yet, or at least aren't online. The filing deadline is the end of this month.
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19-03-2020 10:32 AM #22
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19-03-2020 10:35 AM #23
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Is the financial effects of this really as bad as people think?
I dont think the financial position for us would be too bad unless season ticket holders suddenly wanted partial refunds, which i doubt.
I understand we will lose different streams of income, and of course any loss of revenue is always a concern but i would assume gate receipts would always be the big one. How many walk up fans do we actually have? With season tickets already being paid for, is the loss of this really that big when you consider the operating costs that we will save? Policing etc.
When you also consider a fair chunk of wages will be bonus related , the outgoings in terms of wages will likely already have decreased.
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19-03-2020 10:43 AM #24
Assuming Hibs lose the income from the remaining four league games (I'm leaving out the Scottish Cup money, as that surely is a bonus), just how much would we actually lose?
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The before the split home games would be (with estimated attendances based on last year's games + current form)
St Johnstone (16,500)
Celtc (20,000)
In addition, we'd be due to play two home games after the split, Let's say:
The Rangers (19,500)
Aberdeen (18,000)
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If you take off the ~13k Season Tickets, that's four games with an average tickets sold of 5.5k per game.
A reasonably large number of those will be concession tickets, and St J and Aberdeen aren't Category A so, let's be generous and say the average cost is £20 per ticket.
That would be £110k per match, or roughly £450k in total.... minus VAT, policing, player bonuses and other costs.Last edited by Keith_M; 19-03-2020 at 10:46 AM.
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19-03-2020 11:23 AM #25
There is not a chance of ST numbers remaining the same. Many families will be facing financial hardship and budgeting will be prioritising food on the table/rents and mortgages and household bills. Many budgets won’t stretch to Season Tickets and match tickets and I’d expect a big drop for next season which will be a concern for the club going forward.
While the clubs finances look to be in decent enough health to ride this out, the finances of those who contribute towards that might well not be.
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19-03-2020 02:25 PM #26This quote is hidden because you are ignoring this member. Show Quote
I don't know but I don't think that's a major percentage of our match-day income.
Happy to be corrected if I'm wrong.
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19-03-2020 02:27 PM #27
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They may have surplus cash to put towards a season ticket. I know it's a minority but I am trying to find some positive.
I just hope all of us come through it OK.
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19-03-2020 02:34 PM #28This quote is hidden because you are ignoring this member. Show Quote
I'm quite fortunate in my line of work, that we can continue working at home.
If there's still a club to support next season, I'd happily buy Season Tickets for other people, as it would help both my fellow Hibbies and the club.
I'm far from being rich but I don't mind trying to help out where I can.
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19-03-2020 03:20 PM #29
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19-03-2020 03:23 PM #30
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It was reported a few days ago only one club didn't have insurance.
I think it's now obvious which club that was.
Power has been on the Bounce assuring us Hibs have business interruption insurance.
It's not going to be easy but what I've seen coming from the club is calm and reassuring; the Leeann interview; the Nathan Ring interview; Hibees at home and others suggest we've had a disaster (recovery) plan and it's rolling out rather nicely at the moment.Space to let
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