FOH - The Next Phase

[The Treasurer]

The intention to seek an increase in pledge numbers is a laudable one, but I believe it has to be accompanied by an updated set of aims and visions for FOH going forward. 

 

Currently the primary objective of FOH remains to deliver "Fan Ownership".  We are only one year into a five year programme to deliver that objective, so I think it is a little premature to start talking about investing in other areas of the club before ownership is secured.

 

Is it Brian's intention to use any extra funds raised to meet that primary objective earlier than planned, or is it his (and the FOH's Board's) intention to use the funds towards a capital investment (e.g. a new stand), an investment in the future (the Academy), or just to provide additional working capital for day to day running of the club.

 

Everybody who has invested to date has done so in the knowledge that they were 1) helping save the club and 2) delivering fan ownership.  Any change in those objectives (for existing and prospective new contributors) needs to be discussed and agreed with the membership.   

I don't think there is or ever will be a change in the original objectives of FoH but new, additional objectives can be aimed for but, as you say, they have to be agreed by the membership.

Speaking personally I'd be more than happy for my contribution to be used toward further development of the club either on or off the park and I suspect most pledgers would feel the same.

[Watt-Zeefuik]

Just started pledging for the first time, after being in the position to do so.

 

Fantastic!  I think it's folks like you who are going to grow FoH.  Young fans who get their first steady full-time job and can sign up, or folks whose life situation takes a turn for the better and can sign on.

 

 

Why can't we have a special pledge rate for kids and OAPs at say a fiver every little counts!

 

A "junior FoH" would be fantastic.  Give 'em a little badge or something too.

 

 

Not everyone will want to pay on a monthly basis. If they could accept one off Paypal payments that would help.

 

Agreeing with redm, if they do this I would hope that it's for a pretty high minimum (like ?250 or something).

 

On the OP, I think at some level Barcelona manages it by making pledging part of being a supporter of the club.  I find a lot of the PHM chat irritating but IMO a part of being a proper Hearts fan is pledging to FoH if one can afford it.  Taking a page out of church stewardship campaign strategies, maybe a thread asking people to write testimonials about why we pledge to FoH would be a start, with a disclaimer at the beginning that we agree to turn over all text in that thread over to FoH for use in pledging campaigns should they desire.

[Fxxx the SPFL]

I still have a feeling that Queen Ann will hand back the money to Hearts/FoH at the end of the repayment period as a goodwill gesture to the club/fans for the magnificent backing whatever happens I would want her to stay on for many years. I also feel that local business will pony up in the future to ensure continued extra revenue.

[Clerry Jambo]

I still have a feeling that Queen Ann will hand back the money to Hearts/FoH at the end of the repayment period as a goodwill gesture to the club/fans for the magnificent backing whatever happens I would want her to stay on for many years. I also feel that local business will pony up in the future to ensure continued extra revenue.

That was a rumour Ray, shortly after we exited Admin but whatever happens delighted to have the lady.

[Fxxx the SPFL]

That was a rumour Ray, shortly after we exited Admin but whatever happens delighted to have the lady.

maybe if we keep quoting the rumour it might stick in her mind, how is the dot counting training coming on any upstarts out there to challenge/assist you.

[FarmerTweedy]

Re: the OP. I don't know, in short, but I've been thinking about it since I saw Cormack's tweet this morning!

 

I'm tempted to think there needs to be a specific project attached to the next push - a clear 'this is what can be achieved if you consider pledging and help us' sort of scenario. As other have mentioned, although I do think there's probably merit in getting some folk out onto the Wheatfield concourse or round the back of the Main Stand, we may well be close to maxing out anyway. I wonder how many people are out there who would like to pledge but have never encountered the opportunity? Can it be many? I'm not sure if just making it easier for people (by putting the opportunity in their lap) is going to be enough to get the sort of boost he's hoping for. 2000 is a lot of people when it doesn't have the emotional surge of a survival issue behind it.

 

I like the idea of building on research. If there was greater knowledge about the reasons why people do and don't pledge then it would be easier to design and target the 'message'. Above all, care must be taken to avoid insulting or being seen to be critical of those who, for whatever reason, have chosen not to pledge. I really think that's so important.

 

The problem with promoting membership based on a possible project is that for the next three years or so at least, the destination/usage of the funds is already set out - going to Hearts as an additional revenue stream till the middle of next year, then to Ann Budge to repay her loan until that's cleared.  Money going towards any major 'project' won't happen until after that.

[Unknown user]

As alluded to above, we've always had problems attracting Edinburgh's financial companies but I'd like to think we could do quite well by looking for pledges from businesses like Scottish Widows etc

[Haken]

Think we need to be a little careful with this.  Saying we would like 10,000 pledgers,  what does that actually mean?  It's just a figure.  Surely the important element is the amount of income it's generating?  I'm reasonably sure that it's inaccurate to say we have 8,100 pledgers; we probably have many more.  What we have are 8,100 direct debits.  Those direct debits may represent pledges from two or more people within a household.  So we may already have 10,000 pledgers.

 

I realise it's much more difficult to come out and say we need more money coming in, but in effect that's what you are saying when you're trying to drive up the number of pledges.  The trick is in doing this without making it seem as you're continually asking the same group of fans to give more.

[PapaG]

Make it easier to increase your pledge. As my circumstances has changed last month I decided to increase my pledge, after login onto the FOH site I clicked the link to increase my pledge. When clicked it goes through some screen grabs how to increase which involve login onto go cardless and following a process to cancel your DD then you have to activate again with an increase... I couldn't be bothered and thought I'll leave it and do it later. I have still not increased, although I will get round to following the process. If possible to implement A simple click to top up I am sure would help increase pledges.

[BelgeJambo]

Could we encourage businesses to make corporate donations to FOH and they can be advertised on the electronic boards around the ground on match day as doing so, giving them free advertising and a thanks for their donation.  Perhaps companies would take this up, because does it not let them write-off some tax. 

[Don Dan]

http://www.blogfoundationofhearts.org/may-blog/

 

May 2015

 

Marching on

 

April was another huge month for the Foundation in which membership numbers reached an all-time high, we hosted the inaugural plot award ceremony at Tynecastle and we reached a significant milestone on our agreement with BIDCO. In this month?s blog we update on these successes and all other news from what was a busy month.

 

Inaugural Plot Ceremony

 

On Sunday 19th of April the Foundation was delighted to welcome the first group of pledgers to the inaugural commemorative pitch plot ceremony at Tynecastle. Some 50 committed supporters were awarded their own unique virtual plot of the hallowed turf, including a certificate of ownership, after being among the first pledgers to reach the 1,000 points milestone as part of the Foundation?s Fan Rewards scheme. Representatives from the club including Ann Budge, Robbie Neilson and Craig Levein were on hand to present the plot certificates and to show their appreciation for our pledger?s unstinting support. Pictures from this momentous occasion are available to view here.

 

As part of the occasion, the Foundation was proud to present Ann Budge with a special award in recognition of her devotion to the Club and support of the Foundation. Ann, the Queen of Hearts, was allocated the centre circle plot and was presented with a commemorative turf cube as a mark of our appreciation.

 

The feedback from attendees has been extremely positive and we will continue to host these ceremonies in coming months as the number of pledgers reaching the 1,000 points target rises. We look forward to welcoming you to Tynecastle and having the opportunity to thank you for the amazing support you continue to show the Foundation.

 

Another Milestone

 

Under the agreement with BIDCO we entered into last May, the Foundation undertook to meet certain financial conditions. The conditions, set out below, are effectively the hurdles we must pass on our path to fan ownership:

 

?1m on completion of the agreement in May 2014 to HMFC;

?1.4m in year 1 of the agreement to HMFC toward working capital;

?1.4m in year 2 of the agreement to HMFC toward working capital; and

?2.4m to BIDCO over the remainder of the agreement in order to buy the rights to the loan BIDCO made to HMFC at the start of the agreement and to acquire BIDCO?s shareholding in HMFC.

The first condition was achieved on the Club?s exit from administration and In April we successfully met the second condition in line with our financial plan. This is a huge achievement and is testament to the loyalty and commitment of every single member of the Foundation. We have been told over and over that our dream of owning and shaping the future of our Club is not possible. Every single month, when you pledge to the Foundation, we take another huge stride forward and you prove these cynics wrong.

 

However, we still have a long way to go. The Foundation of Hearts cannot rest on its laurels and we would therefore ask all supporters to take this simple message to your fellow fans who have not yet signed up to this vital cause on behalf of the club we love: we have achieved so much through the financial backing of 8,000 members; how much more can the club achieve in the Premiership with an even bigger membership delivering more financial resources? It is never too late to become a pledger and play a part in creating history.

 

On Board

 

Some of you may recall that part of our agreement with BIDCO requires that a second member of the Foundation Board join the main Club Board one year from the start of the agreement. With that landmark now upon us we are very pleased to announce that Brian Cormack will be joining the Hearts Board as Director in May. Brian was one of the original founders of FoH and has been a pivotal part of the Foundation?s early success. His business background is in construction and property and as part of his role he will assist the Club in this area. He joins the Heart?s board with the full backing and best wishes of the Foundation and the rest of the Board have no doubt that he will be a great asset to the Club.

 

Brian?s appointment further underlines the close links between the Foundation and the Club and our shared commitment to work together to ensure a smooth and seamless transition to fan ownership.

 

Governance Working Group Update

 

At the Foundation, we are constantly struck by two things ? firstly, the amazing number of people who, simply because they love Hearts, are willing to help us with their time and talent, and secondly the enormous range of expertise which resides within our membership. Here is one illustration.

 

At our first AGM last December, our chairman Ian Murray said that one of the board?s priorities in 2015 would be to set up a working group to assist the board in developing a long-term fan ownership model and governance framework for the Foundation. Put simply, as we transition towards acquiring control of the Club, we are determined to create an enduring ownership model which will meet both our members? expectations and the needs of the Club and will be the gold standard which others wish to emulate.

 

Within minutes of the meeting ending, two members ? Andy Adams and Josh McLeod ? came forward to ask if they could help the working group. Andy is a Professor of Finance at Heriot-Watt University and Josh is one of his post-graduate students. Andy has pursued a strong academic interest in fan-owned football clubs and Josh is currently researching this subject for his PhD. The growth of fan ownership of football clubs has attracted a lot of academic research in the UK and elsewhere and it was clear that Andy and Josh?s expertise would be valuable to the working group as it investigated best practice and considered what would be right for Hearts.

 

In March, the working group had a very useful brainstorming meeting with our two resident experts where we explored the strengths and challenges of supporter-ownership and discussed the particular priorities for a Foundation/Club structure. This has provided an excellent basis on which to proceed with our research and we will hopefully be able to continue to draw on Andy and Josh?s expertise and advice as the group continues its work.

 

It goes without saying that, further down the line, as the options for long-term ownership and governance become clearer, there will be open consultation with our members to help us gain a first-hand understanding of your priorities and concerns.

 

Strip Survey

 

We?d like to say a huge thank you to everyone who responded to our survey about the fans tribute strip. We had an unbelievable response with more than half of FoH members answering the question. And of those replying, a healthy majority indicated that they are likely to buy the strip (either one or more). We?re very grateful to everyone who took time to do the survey which is a really helpful guide for the Club.

 

Leave a comment

 

As ever, we welcome your comments and feedback on this month?s Foundation blog. Do let us know if there is anything you would like to hear about in future blogs.

 

Thanks and have a great May!

Posted on May 14, 2015Author admin

6 thoughts on ?May 2015?

 

Gordon(don) Spence says:

May 15, 2015 at 10:37 am

So proud at what is being acheived by FoH, this last couple of years have been quite depressing and scary, but now the ship has been steadied and after a wonderful season we look forward to next season back where we belong, but it will be tough!

Derek ferguson says:

May 15, 2015 at 10:09 am

What a job you guys have done.differant class.

Neil Robertson says:

May 15, 2015 at 10:07 am

First time I have commented and I thought it time that I did so. I?ve just read the update on the blog and I continue to be amazed and impressed by everything that is being done at the club by so many committed and talented people. Yes, we help with funding but there is so much more going on. I?m immensely proud of what is happening and look forward to the future of our great club.

David K Hiddleston says:

May 15, 2015 at 9:59 am

Congratulations to all involved. Keep up the good work and remember, we?re behind you!

Vic says:

May 15, 2015 at 9:57 am

Brilliant to be part of a strong movement with drive, focus and a common purpose.

..

 

#CreateHistory

Ricky Pollock says:

May 15, 2015 at 9:55 am

Volunteering

I am an architect and consultant on designing buildings for people with dementia at the Dementia Services Development Centre at the University of Stirling ? http://www.dementia.stir.ac.uk ? . I note the the Club are supporting initiatives towards ensuring inclusion for people with dementia and would like to offer my own personal support in this regard if this would be of any help.

[Doc Rob]

Just out of curiosity, is there going to be another Plot Ceremony? I am sitting on 1530 points and I didn't hear anything about it.

 

I won't be devastated if not, but I do want a certificate - it'll be going on the wall!

[Tiberius Stinkfinger]

Good too see all funds being allocated in the correct manner.

 

Just hope people don't start to get to impatient on what is not a quick fix.

 

10k SHOULD be the next target, then 15k.

 

That as a club is how we will progress.

[Poseidon]

Just out of curiosity, is there going to be another Plot Ceremony? I am sitting on 1530 points and I didn't hear anything about it.

 

I won't be devastated if not, but I do want a certificate - it'll be going on the wall!

Yeah, there will be lots more to come. I'd drop them an email and I'm sure you'll get an invite to the next one

[Doc Rob]

Yeah, there will be lots more to come. I'd drop them an email and I'm sure you'll get an invite to the next one

No bother. That's what I thought.

[Bungalow Bill]

I'm sure this will have been discussed before, but do we absolutely have to pay Mrs Budge back? Could the FOH's first vote not be whether or not to do so? I for one would be perfectly happy to install her as the permanent owner if she were willing to do so.

Yes we do as Ann Budge wants her money back and the deal is for the fans to own the club. Ann Budge is also 67/68 years of age and isn't immortal.

 

The fans have a great opportunity to buy the club. Ann will make sure all the building blocks are in place when it's transferred over.

 

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[CJGJ]

FANS' group Foundation of Hearts (FoH) have reached a major milestone in their bid to take control of the Tynecastle club after confirming they have provided ?1.4 million of mandated working capital.

The payment is the second financial condition of the deal struck between the FoH and Hearts owner Ann Budge last May, with a view to seeing the supporters take control of the club by 2019 at the latest. The first obligation was met last summer when Budge rescued the club from administration, with FoH providing the club with ?1 million of immediate investment.

 

April also saw membership numbers for the FoH reach an all-time high, assuaging fears that stability on the field could lead to a drop-off in fans feeling obliged to pledge to the cause.

 

http://www.heraldscotland.com/sport/football/foundation-of-hearts-pass-another-financial-milestone.126240897

 

To our friends form Leith looking in how's that for fan backing and where's the drop off in numbers you forecast.

[J.T.F.Robertson]

FANS' group Foundation of Hearts (FoH) have reached a major milestone in their bid to take control of the Tynecastle club after confirming they have provided ?1.4 million of mandated working capital.

 

The payment is the second financial condition of the deal struck between the FoH and Hearts owner Ann Budge last May, with a view to seeing the supporters take control of the club by 2019 at the latest. The first obligation was met last summer when Budge rescued the club from administration, with FoH providing the club with ?1 million of immediate investment.

 

April also saw membership numbers for the FoH reach an all-time high, assuaging fears that stability on the field could lead to a drop-off in fans feeling obliged to pledge to the cause.

 

http://www.heraldscotland.com/sport/football/foundation-of-hearts-pass-another-financial-milestone.126240897

 

To our friends form Leith looking in how's that for fan backing and where's the drop off in numbers you forecast.[/quote

 

They've been "forecasting" a whole load of calamities over the last ten years or so.

Long overdue a new crystal ball.

 

EDIT; Quote function she no work properly.

[Unknown user]

 

FANS' group Foundation of Hearts (FoH) have reached a major milestone in their bid to take control of the Tynecastle club after confirming they have provided ?1.4 million of mandated working capital.

 

The payment is the second financial condition of the deal struck between the FoH and Hearts owner Ann Budge last May, with a view to seeing the supporters take control of the club by 2019 at the latest. The first obligation was met last summer when Budge rescued the club from administration, with FoH providing the club with ?1 million of immediate investment.

 

April also saw membership numbers for the FoH reach an all-time high, assuaging fears that stability on the field could lead to a drop-off in fans feeling obliged to pledge to the cause.

 

http://www.heraldscotland.com/sport/football/foundation-of-hearts-pass-another-financial-milestone.126240897

 

To our friends form Leith looking in how's that for fan backing and where's the drop off in numbers you forecast.[/quote

 

They've been "forecasting" a whole load of calamities over the last ten years or so.

Long overdue a new crystal ball.

 

EDIT; Quote function she no work properly.

 

A friend was sure they'd get a minimum of 5000 subscribers to their HSL share thing based on our 8000 FoH subscribers.

Am I right in thinking they haven't announced 4 figures yet?

[Five to One]

I think the club and foundation really have to be creative here. The third strip with pledgers names is a good start. I'm not saying hand out loads of free stuff, but events and other initiatives can make a difference.

 

 

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[BigC]

I've heard Jambos based abroad complain that they struggle to get to games when they are home, cup finals etc.

 

It would be difficult to justify putting it in as part of the loyalty scheme as you would effectively be selling loyalty points, but in my opinion, a foreign based fan doing well for himself who contributes ?50 a month to FOH deserves to have some form of priority and I think giving that would possibly encourage some foreign Jambos to pledge.

[Bungalow Bill]

FoH have over 9000 Twitter followers, but only 8000 members. Surely they should be tapping into those 1000 extra followers, appreciate some won't be old enough to contribute yet.

 

 

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[wavydavy]

FoH have over 9000 Twitter followers, but only 8000 members. Surely they should be tapping into those 1000 extra followers, appreciate some won't be old enough to contribute yet.

 

 

Sent from my iPhone using Tapatalk

 

It is possible that there could be several Hearts fans from the same household where one family member makes a contribution but the others don't but still like to follow what's going on via twitter.

[alyp]

I've heard Jambos based abroad complain that they struggle to get to games when they are home, cup finals etc.

 

It would be difficult to justify putting it in as part of the loyalty scheme as you would effectively be selling loyalty points, but in my opinion, a foreign based fan doing well for himself who contributes ?50 a month to FOH deserves to have some form of priority and I think giving that would possibly encourage some foreign Jambos to pledge.

 

As one of them you are absolutely correct.  And to be fair to FoH I know that they are actively looking at precisely that issue.

[blairdin]

I think the focus has to be making sure we maintain 8,000 for the next five years and beyond. That many pledges is phenomenal and better that certainly I expected. Anything more is a bonus.

 

Going forward after Ann has been repaid, it's about carrot dangling and goal setting. Making sure pledgers know what the monthly payments are being used for. Being part of the generation that solved the stadium issue is something I'd continue to pledge for.

[Francis Albert]

The current level of contributions is enough to achieve the so far stated aims of FoH - delivering fan ownership and the associated task of putting the club on a sound footing ("rebuilding") before completion of FoH's acquisition of a majority shareholding. In fact given we have bounced back in one season and have the extra ?1m from top tier place (Ann's figure I believe) we (Hearts) are ahead of the game. Any increase in FoH funds in the next year will go to the club - the deal with Bidco requires all but ?50,000 per annum of subscriptions to be passed to Bidco(the club) whatever level is achieved. So increases in the near term will not advance the timing of achieving fan ownership. 

 

I agree with previous posters that any extension of FoH's aims and objectives should be a matter for consultation with the membership.

 

I also agree with blairdin that the focus for the next few years should be maintaining current levels of contribution and that they are a remarkable achievement. If maintained, Hearts will receive an ongoing subsidy probably greater or at least very comparable with the total self-generated revenue of most of its competitors in the top flight of Scottish football.

 

FoH also needs to sell the idea of fan ownership more convincingly. The view "I wish we could just leave Ann in place and forget about fan ownership" seems fairly widespread. IMO it is a dangerous idea - FoH is about creating a sound basis for the future  that extends well beyond Ann's (and my!) lifetime. Defining the governance arrangements are a necessary first step so that people can understand what fan ownership means - and allay fears that the fans will be picking the manager or the team, but at the same time ensuring we don't find ourselves in the hands of another CPR or Vlad (or almost all previous owners for that matter).

 

(I should say I am in FoH for life, and so will take a keen interest in what happens to the money I and 8000 others contribute).

[henry]

Some really good points and ideas being put forward. Maybe FoH could look to using the services of a professional advertising / design agency to increase our membership. We do seem to have stalled a bit as far as new members are concerned.

I'm no expert, but I'm sure with a professionally designed campaign, and slick video montage, we could increase our chances of getting more members.

 

Get some of the current players involved, include Anne, Craig and Robbie. Get a few legends on board, Robbo and Rudi.

Make it clear what the donations to Heart of Midlothian would mean to the club, and how important it is to have thousands of fans backing them every month with their money.

Can't underestimate the power of advertising, especially when it gets to the heartstrings and tugs on the emotions.

Surely there must be some Jambo media savvy experts out there in Edinburgh?

It certainly needs proffesional marketing and has to reach out to those who would only find FOH if the tried to find it. Even direct mail through people's doors, I mostly throw junk mail in bin but if it had a Hearts logo on it and your a Hearts fans people would look at it and we might pick up a few individuals that might have been out of reach.

[sniffer]

One of the conditions of the deal with FOH was that Bidco (Ann Budge) reserved the right to dispose of the assets of HoMplc, in any way she wished, if the full amount of the loan and interest was not repaid within the 5 year loan term. Now, I am not saying that Ann intends to sell our club - indeed I very much doubt it - but she won't be around forever and what better incentive to secure the long term future of Hearts, than total fans ownership. If that's not an incentive, then I don't know what is?

[eck1874]

Just moved house and monthly payment has reduced que increase in pledge.

[Kiwidoug]

I've heard Jambos based abroad complain that they struggle to get to games when they are home, cup finals etc.

 

It would be difficult to justify putting it in as part of the loyalty scheme as you would effectively be selling loyalty points, but in my opinion, a foreign based fan doing well for himself who contributes ?50 a month to FOH deserves to have some form of priority and I think giving that would possibly encourage some foreign Jambos to pledge.

Speaking as an overseas Jambo and pledger, I wouldn't hold out any hope for tickets on visits home unless it was hospitality.  Would love to do that again.  Did it for the 4-0 semi and it was brilliant.

 

Not saying it's a bad idea though.  Might encorage more pledgers.

[Neil Jung]

Have foh ever thought of adding membership as an option to other Hearts related products? For example why not provide foh membership as an add-on when buying a season ticket or clobber. Tick a box etc etc. is there any reason this can't be done?

[jake]

Have foh ever thought of adding membership as an option to other Hearts related products? For example why not provide foh membership as an add-on when buying a season ticket or clobber. Tick a box etc etc. is there any reason this can't be done?

 

Yes.

Because its pointless.

And every hearts supporter who can afford it is doing it neil.

We are hearts after all not hibs.

[Mikey1874]

move forward to more new members will be when transfer of ownership is actually being seen to happen

 

meantime current total of pledges and amount is amazing