Hearts AGM

[Don Dan]

Thanks... was anything mentioned on working with corporates going forward?

Yeh the corporate team are building bridges at the moment due to the loss of confidence thanks to the previous regime and obviously the Administration /CVA. The hospitality packages are almost sold out for the season. There is also, thanks to Hearts fans, installation of wifi (cables etc) at cost price around the stadium except the stands which will allow for Internet access. The team are also approaching various business bodies looking for sponsorship ect.

 

 

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[tartofmidlothian]

That is standard practice for all football clubs

 

And yet when our previous regime had the begging bowl out their budget included, what was it, quarter finals in each?

[DETTY29]

Hearts museum being costed in old club shop at 3 levels of spend.

 

Must pay for itself, Ann Park has experience if working with charities and securing grants.

 

JKB offering potential funding assistance.

[Allowayjambo1874]

Turnover was ?7.3m in 2012-13 and ?6.5m in 2013-14. This year it is forecast to be ?5.5m. Was any explanation given for te decrease - is this just down to reduced TV and commercial income due to being in the Championship and the lack of sponsorship within Scottish football?

 

Prize money for starters: http://m.stv.tv/news/west-central/303827-a-guide-to-how-much-spfl-clubs-are-paid-and-when-prize-money-is-received/

[DETTY29]

Powderhall Foundary been awarded contract for statue of typical McCrae's Battalion soldier. 110% if real size.

 

I think Scot Gardiner said 1914 Trust had raised 2/3rds cost and Hearts will support final costs.

 

Permanent home will be identified in footprint of Tynecastle and unveiled within the year.

[Francis Albert]

Unfortunately I couldn't stay for the Q&A (domestic arrangements - sorry CJGJ), but I listened to Ann Budge, Eric Hogg and Craig Levein's presentations.  They were all very professional and I did get answers to some of my questions. No media allowed in the meeting (unless they were shareholders).

 

If I've read the slides correctly from the back of the Gorgie Suite

 

Initial projections were made on 8,000 STs

 

Turnover was originally budgeted at ?4.233M but is now estimated to come in at ?5.573M

Staff costs ?3.095M to ?3.447M

Other costs ?2.414M to ?3.012M

Forecast loss -?1.276M to -?0.886M (before FOH money)

 

Costs

Riccarton ?540K  (incl Rent + share of utilities + coaches + kit)

Match Day costs ?360K (incl Stewarding + policing) 

Stadium costs  ?335K  (incl Rates + Cleaning)

Repairs and maint ?250K

Utilities ?235K

Legal Audit & Professional costs ?140K

Credit Card fees ?120K (5% charge)

Insurance ?40K

Total = ?2.02M

 

Other costs include transport accommodation, mobile phones etc

 

Forecast Wages to turnover ratio 67% -  Football side 54%, First team  40% (47% with bonuses)

 

At least now we can see where the FOH money is going.

Thanks FF. My questions also answered, clearly and concisely, at the level of detail I was looking for.

 

(Hard to understand what the fuss was about asking them).

[DETTY29]

SPFL chairman / Chief Execs / MDs can be chauvinistic.

 

She has worked in male orientated IT environment for 40 years.

 

I reckon she swats them like flies.

[Don Dan]

One question/ statement made at the end by I think a FoH person related to the Hearts fan base being 40k and only 8k pledging. He asked why the the other 30k were reluctant to pledge even ?5 a month. As it's seen in the accounts the pledges can be an ongoing foundation which underpins the club. Which I thought was a great point.

 

 

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[DETTY29]

One question/ statement made at the end by I think a FoH person related to the Hearts fan base being 40k and only 8k pledging. He asked why the the other 30k were reluctant to pledge even ?5 a month. As it's seen in the accounts the pledges can be an ongoing foundation which underpins the club. Which I thought was a great point.

 

 

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Alex Mackie.

[jambo in iraq]

At the risk of further inflaming the mob, did the ?472k costs included the ?110k "arrangement fee"? Either way, Bidco and FoH  may be "joined at the hip" in Ann's words, but it certainly wasn't achieved by an NHS operation. To pre-empt the seethe, I am not saying Ann benefitted, just that someone did. 

yes you clearly are. This passive aggressive bull sh1t doesn't wash. Just come out and say what you have wanted to say from the very beginning. Pathetic!

[DETTY29]

Not part of QA but we were definitely just 2 days from the Big L.

[Don Dan]

SPFL chairman / Chief Execs / MDs can be chauvinistic.

 

She has worked in male orientated IT environment for 40 years.

 

I reckon she swats them like flies.

She comes across as a quiet and measured individual but woe betide you if you get on the wrong side of her.

Ann's phyosophy is to be fair and reasonable and reward you well for your efforts. Hence the living wage. She and Craig want to see happy people working at the club.

 

 

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[Walter Payton]

Thanks. Since I don't follow Twitter (assuming that this is what it is) JKB has provided the answer my OP sought. Confirming again the usefulness of JKB as a channel of communication.

 

I have also now had a reply to Friday's email to Hearts.

 

Was this opportunity to ask questions via email publicised via any other channel other than twitter, and people then reposting on JKB? 

 

If not, that's disappointing. The club should have sent an email advising shareholders of this opportunity (i.e. direct communication) rather than relying on Twitter, where it relies on people logging in and checking it. I'm hoping they did send an email and I just accidentally deleted it!

 

Edit to highlight the flaw in my own argument- the club don't necessarily have all shareholders' email addresses! They could have sent a generic email highlighting this opportunity to the club mailing list, it would still have been more effective that relying on twitter IMO.

[Don Dan]

Alex Mackie.

I thought it was him.

 

 

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[Don Dan]

She comes across as a quiet and measured individual but woe betide you if you get on the wrong side of her.

Ann's phyosophy is to be fare and reasonable and reward you well for your efforts. Hence the living wage. She and Craig want to see happy people working at the club.

 

 

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[We_are_the_Hearts]

Alex Mackie.

I think almost 25% is decent when you take account of Under 18s, OAPS and students that will be on the Database. Some form of membership/loyalty point incentive could maybe bag another couple of thousand. 

[Don Dan]

I think almost 25% is decent when you take account of Under 18s, OAPS and students that will be on the Database. Some form of membership/loyalty point incentive could maybe bag another couple of thousand.

The point incentive scheme is on the cards in the next few months.

 

 

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[Jambo 4 Ever]

One question/ statement made at the end by I think a FoH person related to the Hearts fan base being 40k and only 8k pledging. He asked why the the other 30k were reluctant to pledge even ?5 a month. As it's seen in the accounts the pledges can be an ongoing foundation which underpins the club. Which I thought was a great point.

 

 

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Is ?5 a month even an option though?

[richiehmfc]

Something not mentioned so far, Levein was asked if we had any approaches for any of our players - he said we had not had any.

 

He was also asked about Jason Holts contract - he said he would not get drawn into individual players but that some players may not be happy not getting first team football and he could understand that but no player would be leaving the club unless the club were comfortable with it.

 

I thought Eric Hogg's piece was really incentive and the thing that struck with me is that we were "a couple of days from liquidation"

[Don Dan]

Re Craig's statement it was basically the same as the FoH one. He also mentioned that there could well be additions in January but only if it was the right player for the right money. There will be no players sold unless someone offers silly money then it would be considered. He also spoke about Holt and Prince in response to a question but did not reveal if Holt was going or indeed resign and no update on Prince either. He did say like any club there will be players who want to play every week and think they are worth more but said he has long and in depth discussions with them but did not reveal who these players are.

 

 

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[Jambo 4 Ever]

They also mentioned our average home attendance is over 16,000 this season so far!  16,064 or something like that... which is very decent!

[Don Dan]

Is ?5 a month even an option though?

Not that I'm aware off but he did say ?5.

 

 

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[jamtartan74]

Not that I'm aware off but he did say ?5.

 

 

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surely any contribution should be welcome?

 

 

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[ando]

Is ?5 a month even an option though?

The board are looking at the amount you can pledge also the amount you can top up

[Don Dan]

surely any contribution should be welcome?

 

 

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I believe that they are but as yet there is no ?5 per month option. However I think there is a facility for one of payments ie save up the fivers and make contributions of say ?100.

 

 

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[jamtartan74]

I believe that they are but as yet there is no ?5 per month option. However I think there is a facility for one of payments ie save up the fivers and make contributions of say ?100.

 

 

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thanks for clearing that up, good to know.

 

 

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[Pistol1874]

The budgeted for exiting in the first round in every cup competion.

 

 

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Precisely. The previous year's figures are actuals and, from memory, would include more games in at least the league cup including a run to the final.

[Francis Albert]

yes you clearly are. This passive aggressive bull sh1t doesn't wash. Just come out and say what you have wanted to say from the very beginning. Pathetic!

As I said, at the risk of inflaming the mob! It was a simple question simply answered.I have absolutely no idea what you are talking about. "Passive aggressive bullshit"?

[redm]

Powderhall Foundary been awarded contract for statue of typical McCrae's Battalion soldier. 110% if real size.

 

I think Scot Gardiner said 1914 Trust had raised 2/3rds cost and Hearts will support final costs.

 

Permanent home will be identified in footprint of Tynecastle and unveiled within the year.

 

 

Still not clear why this is necessary when we already have the Tynecastle Bronze and the Haymarket memorial.

 

 

Anyone know how much this is costing?

[mutley]

So pretty much good news all round then. Next year we have the extra income of playing in the premier league, can't really do much worse in the cups and we would expect a shirt sponsor.

[jambali]

Still not clear why this is necessary when we already have the Tynecastle Bronze and the Haymarket memorial.

 

 

Anyone know how much this is costing?

... and whit aboot ra Vlad statue???

[Don Dan]

Another couple of points spoken about.

 

There was a resolution raised and passed to allow Ann (Bidco) to transfer shares. This will only be done in relation to the 2012 share issue. It is because of the shambles left by the last lot and some people although having paid money did not receive their shares.

 

 

Also there will be a new track round the pitch very soon, it would have been laid by now but as we did not want it green but instead Red/maroon it will take a couple of weeks longer. Which generated a big round of applause.

 

 

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[Harry Palmer]

Assume this will be on the free bit of Hearts TV.

 

Heart of Midlothian ?@JamTarts  24s24 seconds ago

Ann Budge spoke to the media after today's AGM, we've got her press conference coming up IN FULL on HeartsTV!

[DETTY29]

Still not clear why this is necessary when we already have the Tynecastle Bronze and the Haymarket memorial.

 

 

Anyone know how much this is costing?

I'm sure this started off as a venture including the HMSA and The Federation of Hearts Supporters Club (folk were asked to donate ?19.14 each) to erect a memorial on on the 100th anniversary of McCraes and the amount to be raised wasn't an inconsiderabe amount either.

 

It got sidetracked with the initial share offer then admin as folk used their spare cash to try and save the club.

 

And now managed to find more info.  Not sure if ?60k is still the figure required.

 

http://1914memorial.org/

[Don Dan]

http://www.bbc.co.uk/sport/0/football/30518506

[Francis Albert]

Was this opportunity to ask questions via email publicised via any other channel other than twitter, and people then reposting on JKB? 

 

If not, that's disappointing. The club should have sent an email advising shareholders of this opportunity (i.e. direct communication) rather than relying on Twitter, where it relies on people logging in and checking it. I'm hoping they did send an email and I just accidentally deleted it!

 

Edit to highlight the flaw in my own argument- the club don't necessarily have all shareholders' email addresses! They could have sent a generic email highlighting this opportunity to the club mailing list, it would still have been more effective that relying on twitter IMO.

You are on dangerous ground here and at risk of being branded "anti-Ann" for asking this sort of thing which the thought police trained in deep reading between the lines will

interpret as a "sly dig". The intention was to put up the email address for questions on 5th December but for reasons (I was told unexpected difficulties in setting it up) this didn't

happen until yesterday and communicated by Twitter and thence on JKB. Given the hitch I suspect the club will try to answer any questions sent to the dedicated address too late for the AGM. You could (again at some risk from the thought police) also post them on here and someone (eg FF)

might well have the answer.

 

I agree with your view on Twitter as a communicattion channel but both the club and (especially) FoH seem to favour it.

[maroonlegions]

http://www.bbc.co.uk/sport/0/football/30518506

[FraMcCa]

 

From what I can remember,

Stadium question will be looked in the medium term and ultimately the supporters views will be given the most weight to a final decision.

 

Total Cost to FoH only includes the ?2.5m plus Vat and some other costs. None of the monies from FoH ie the ?1.4m ?1m are use to pay back the loan. They use in general revenue and used as required in the day to day running of the club. If you look at the figures presented by Eric the club would end the year with a ?900k loss but the FoH input prevents that happening. The Auditors noted that the cash injection by FoH helped the club

 

Given that Our FOH contributions are currently keeping the club out of the red, how will the amount paid by Anne Budge to purchase the club be repaid? Presumably this will be taken care of through increased revenue following promotion and sponsorship etc??

[Don Dan]

A question from the floor spoke about Alan Stubbs claim that Hibs play the best football and was wondering if Robbie used this as motivation for the team. After Craig had picked himself off the floor and managed to quell his laughter he pointed that we only really concentrate on our own game and the game next week. Robbie he says is a hard working individual and is fully focused on the team. He also said it was Robbies job to pick the team from the squad available to him.

[Francis Albert]

I think almost 25% is decent when you take account of Under 18s, OAPS and students that will be on the Database. Some form of membership/loyalty point incentive could maybe bag another couple of thousand.

Agreed. The 40,000 will also include a lot whose only financial outlay is to pay the bus fare or petrol to attend cup final parades or mkaybe buy a scarf as a Christmas present. 8000 is a very impressive figure and early FoH

ideas of 25,000 contributors were always unrealistic IMO. (It seems a topic more for the FoH than HMFC AGM?)

[Jambo 4 Ever]

 

From what I can remember,

Stadium question will be looked in the medium term and ultimately the supporters views will be given the most weight to a final decision.

 

Total Cost to FoH only includes the ?2.5m plus Vat and some other costs. None of the monies from FoH ie the ?1.4m ?1m are use to pay back the loan. They use in general revenue and used as required in the day to day running of the club. If you look at the figures presented by Eric the club would end the year with a ?900k loss but the FoH input prevents that happening. The Auditors noted that the cash injection by FoH helped the club

 

Given that Our FOH contributions are currently keeping the club out of the red, how will the amount paid by Anne Budge to purchase the club be repaid? Presumably this will be taken care of through increased revenue following promotion and sponsorship etc??

I was wondering this too....

[Don Dan]

From what I can remember,

Stadium question will be looked in the medium term and ultimately the supporters views will be given the most weight to a final decision.

 

Total Cost to FoH only includes the ?2.5m plus Vat and some other costs. None of the monies from FoH ie the ?1.4m ?1m are use to pay back the loan. They use in general revenue and used as required in the day to day running of the club. If you look at the figures presented by Eric the club would end the year with a ?900k loss but the FoH input prevents that happening. The Auditors noted that the cash injection by FoH helped the club

 

Given that Our FOH contributions are currently keeping the club out of the red, how will the amount paid by Anne Budge to purchase the club be repaid? Presumably this will be taken care of through increased revenue following promotion and sponsorship etc??

 

Repayment starts in year three and will go on until year five. The drive of the club at the moment is to run at a profit with cash in the bank and the plan is that this should happen in in year three.

[redm]

You are on dangerous ground here and at risk of being branded "anti-Ann" for asking this sort of thing which the thought police trained in deep reading between the lines will

interpret as a "sly dig". The intention was to put up the email address for questions on 5th December but for reasons (I was told unexpected difficulties in setting it up) this didn't

happen until yesterday and communicated by Twitter and thence on JKB. Given the hitch I suspect the club will try to answer any questions sent to the dedicated address too late for the AGM. You could (again at some risk from the thought police) also post them on here and someone (eg FF)

might well have the answer.

 

I agree with your view on Twitter as a communicattion channel but both the club and (especially) FoH seem to favour it.

 

It was on Facebook too. That's 26,352 people.

Add on Twitter and that's 30,844.

 

Not a bad effort.

 

They mentioned they'd had a lot of internet and network upgrades going on recently, it's perhaps entirely understandable that they had issues.

There's nothing stopping anyone from emailing the board members separately anyway, they seem very open to questions and engagement in a general sense.

[Don Dan]

You are on dangerous ground here and at risk of being branded "anti-Ann" for asking this sort of thing which the thought police trained in deep reading between the lines will

interpret as a "sly dig". The intention was to put up the email address for questions on 5th December but for reasons (I was told unexpected difficulties in setting it up) this didn't

happen until yesterday and communicated by Twitter and thence on JKB. Given the hitch I suspect the club will try to answer any questions sent to the dedicated address too late for the AGM. You could (again at some risk from the thought police) also post them on here and someone (eg FF)

might well have the answer.

 

I agree with your view on Twitter as a communicattion channel but both the club and (especially) FoH seem to favour it.

I used the email address to ask two questions yesterday and both were answered at the meeting today. Ann said that some off the delays were unacceptable and would be sorted for next year.

I wonder sometimes if people really grasp what's involved in pulling this whole thing together, for me all involved have done a sterling job and this should be appreciated by all. To a man/woman everybody appreciates all the work done by both boards which came through at both the AGMs.

 

 

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[Nelly Terraces]

A question from the floor spoke about Alan Stubbs claim that Hibs play the best football and was wondering if Robbie used this as motivation for the team. After Craig had picked himself off the floor and managed to quell his laughter he pointed that we only really concentrate on our own game and the game next week. Robbie he says is a hard working individual and is fully focused on the team. He also said it was Robbies job to pick the team from the squad available to him.

Nice one.

[Disco Dave]

You are on dangerous ground here and at risk of being branded "anti-Ann" for asking this sort of thing which the thought police trained in deep reading between the lines will

interpret as a "sly dig". The intention was to put up the email address for questions on 5th December but for reasons (I was told unexpected difficulties in setting it up) this didn't

happen until yesterday and communicated by Twitter and thence on JKB. Given the hitch I suspect the club will try to answer any questions sent to the dedicated address too late for the AGM. You could (again at some risk from the thought police) also post them on here and someone (eg FF)

might well have the answer.

 

I agree with your view on Twitter as a communicattion channel but both the club and (especially) FoH seem to favour it.

 

I would only suspect the comment to be a "sly dig" if the poster had form for such behaviour.  Clearly not you though!

[redm]

A question from the floor spoke about Alan Stubbs claim that Hibs play the best football and was wondering if Robbie used this as motivation for the team. After Craig had picked himself off the floor and managed to quell his laughter he pointed that we only really concentrate on our own game and the game next week. Robbie he says is a hard working individual and is fully focused on the team. He also said it was Robbies job to pick the team from the squad available to him.

 

..."far too many strikers out there for my liking..."

[Don Dan]

..."far too many strikers out there for my liking..."

Brilliant reply by Craig.

 

Congrats on your Administration promotion by the way. [emoji4]

 

 

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[Walter Payton]

It was on Facebook too. That's 26,352 people.

Add on Twitter and that's 30,844.

 

Not a bad effort.

 

They mentioned they'd had a lot of internet and network upgrades going on recently, it's perhaps entirely understandable that they had issues.

There's nothing stopping anyone from emailing the board members separately anyway, they seem very open to questions and engagement in a general sense.

Sorry RedM, but I respectfully disagree. 

 

Regardless of the potential audiences of both twitter and facebook (I'd be included in both numbers), the club shouldn't be relying on people checking those fora on a daily basis in case there's news relating to something as important as the AGM. When I do check those sites, I don't (and suspect some, maybe even most, would be the same) go back and check everything that's been posted since the last time I looked at the site- therefore even if that many people could have had visibility, it shouldn't be assumed they have. 

 

While you could make a similar argument about people not checking their email daily, the ball's been placed in their court if they've been at least been specifically targeted with a message that will relate to them. 

 

This isn't a big deal, and I don't want to make it into one. I just don't want to see the club relying on facebook/twitter for important announcements to shareholders!

[Socrates]

Agreed. The 40,000 will also include a lot whose only financial outlay is to pay the bus fare or petrol to attend cup final parades or mkaybe buy a scarf as a Christmas present. 8000 is a very impressive figure and early FoH

ideas of 25,000 contributors were always unrealistic IMO. (It seems a topic more for the FoH than HMFC AGM?)

 

Did FoH ever seriously suggest that they were aiming for 25,000 contributors? Or is that a sly dig?