1874robbo Posted February 14, 2014 Share Posted February 14, 2014 I would imagine any contract between foh and bidco will be watertight of that I have no fears. We will own our club within 5 years. Quote Link to comment Share on other sites More sharing options...
1874robbo Posted February 14, 2014 Share Posted February 14, 2014 (edited) To be honest, such is my gratitude to the woman, we should really have a separate thread for people to convey this. You can argue about this or that but at the end of the day she has almost single handedly given us a way out of this situation. Bang on the money mate, people losing sight of this amongst all the bickering. Edited February 14, 2014 by 1874robbo Quote Link to comment Share on other sites More sharing options...
samgolden Posted February 14, 2014 Share Posted February 14, 2014 Well I'm willing to pay my ?20 until we are back on our feet be that 1-2-3-4-5------------10 years so be it anything to get our club back were they belong Quote Link to comment Share on other sites More sharing options...
Guest Bilel Mohsni Posted February 14, 2014 Share Posted February 14, 2014 To be honest, such is my gratitude to the woman, we should really have a separate thread for people to convey this. You can argue about this or that but at the end of the day she has almost single handedly given us a way out of this situation. Done. Quote Link to comment Share on other sites More sharing options...
Diego10 Posted February 14, 2014 Share Posted February 14, 2014 Can't agree more, far too many wanna be accountants on here. it would appear you and Eldar don't agree at all. Quote Link to comment Share on other sites More sharing options...
graemed Posted February 14, 2014 Share Posted February 14, 2014 see I'm happy enough with that in principle. I'd just like the earlier transfer to be an option if finances allow. It is, the release yesterday says "within 5 years" does it not? So, if the number of FoH pledges trebles in the next year, they are hardly going to just stick it all behind the bar at the Diggers. Geeesh, some bleeding people! Quote Link to comment Share on other sites More sharing options...
Eldar Hadzimehmedovic Posted February 14, 2014 Share Posted February 14, 2014 it would appear you and Eldar don't agree at all. Just thinking that myself. I'm like, I couldn't have worded that badly surely. Quote Link to comment Share on other sites More sharing options...
Davie749 Posted February 14, 2014 Share Posted February 14, 2014 it would appear you and Eldar don't agree at all. I do, rather have Mrs Budge sorting things out for the medium term than all of us roasters, me included. Quote Link to comment Share on other sites More sharing options...
Eldar Hadzimehmedovic Posted February 14, 2014 Share Posted February 14, 2014 I do, rather have Mrs Budge sorting things out for the medium term than all of us roasters, me included. I'm on board with that. Include me too. Quote Link to comment Share on other sites More sharing options...
Munch Posted February 14, 2014 Share Posted February 14, 2014 They are still clinging on to the hope that the shares will remain frozen over at the net. Quote Link to comment Share on other sites More sharing options...
Davie749 Posted February 14, 2014 Share Posted February 14, 2014 I'm on board with that. Include me too. We got there in the end Quote Link to comment Share on other sites More sharing options...
Taffin Posted February 14, 2014 Share Posted February 14, 2014 (edited) Per FOH tweet this morning "Working Capital does not mean spending spree, it is plugging existing funding gap, paying football debt, and supporting shortfalls." We are going of run out of money in April, so how to we address this if we don't use the donations? We could sell season tickets and use this to plug the shortfall until the summer? - what happens when this money runs out half way thorough next season, we will always be chasing our tail as we have been for the past few seasons, selling season tickets earlier and earlier to plug shortfalls. The club has close to zero cash, no credit facilites - we badly need working capital and the proposal outlined by FOH seems entirely sensible. Yes in an ideal world we could repay the debt straight away and accelerate full fan ownership but the club is in such a perilous position that this is just not possible. Using the donations gives us an opportunity to get our heads above water and create a more solid base to move forward on. We already have a pot of cash from pledges that could be used for that. I think once the club is in bidcos hands all pledges should have begun paging off that loan. I want to pledge extra to facilitate fan ownership, not pay Jamie Hamill wages. Edit: just caught up to the cash reserves and not daily running part on the thread. Happy with that. Delighted, even. Edited February 14, 2014 by Taffin Quote Link to comment Share on other sites More sharing options...
doctor jambo Posted February 14, 2014 Share Posted February 14, 2014 The only way it's gonna get messed up if people don't pay their DD's over the fixed period. Or is she sanctions an over spend- it does not require many wages/manager pay offs to tan the fat end off a million. That would probably pay one decent manager for a year and then his pay off if he was garbage. History of most football clubs are littered with good , solid business people who have completely ruined things, Murray, Boyle, the Marrs, the Thomsons, Mileson, Deans, Robinson, Milne, Johnston, and so on - and these are all recent And if that does not worry you then nothing will At present and without guaranteed transfer all that has happened is Budge has bought herself a club and will run the club and the fans will pay the bills for her new club That is not what I bought into, frankly Quote Link to comment Share on other sites More sharing options...
Davie749 Posted February 14, 2014 Share Posted February 14, 2014 Or is she sanctions an over spend- it does not require many wages/manager pay offs to tan the fat end off a million. That would probably pay one decent manager for a year and then his pay off if he was garbage. History of most football clubs are littered with good , solid business people who have completely ruined things, Murray, Boyle, the Marrs, the Thomsons, Mileson, Deans, Robinson, Milne, Johnston, and so on - and these are all recent And if that does not worry you then nothing will At present and without guaranteed transfer all that has happened is Budge has bought herself a club and will run the club and the fans will pay the bills for her new club That is not what I bought into, frankly You do know what working capital is Doc? Quote Link to comment Share on other sites More sharing options...
Francis Albert Posted February 14, 2014 Share Posted February 14, 2014 This might be in response to the email I sent just over an hour ago. For the record, I am much happier with the proposed plan with the knowledge that the money will be used to build cash reserves. Me too. And glad Bidco think it was a fair question! Quote Link to comment Share on other sites More sharing options...
jbee647 Posted February 14, 2014 Share Posted February 14, 2014 Then people dont understand the concept of a fan owned club As far as I see it I will continue to make these payments to the club as long as it exists or as long as I am alive. Thats the whole point. This isnt just a rescue package, this is an additional layer of income that I am prepared to provide to my club in order that it never gets into this position again Did fans actually think the DDs were just to pay off the debt? To be a truly fan owned club , the fans have to contribute , when I signed up for this I appreciated it was a life long commitment I'm truly surprised by some responses on here, it appears the majority have grasped this, however I'm baffled that some people on here feel as if they have somehow been mislead . Quote Link to comment Share on other sites More sharing options...
Norfolk and Chance Posted February 14, 2014 Share Posted February 14, 2014 We already have a pot of cash from pledges that could be used for that. I think once the club is in bidcos hands all pledges should have begun paging off that loan. I want to pledge extra to facilitate fan ownership, not pay Jamie Hamill wages. The foh bid made to bdo was quite specific in stating 3.75 million would be used for working capital. This is not a change to anything as I understand it Quote Link to comment Share on other sites More sharing options...
Balders Posted February 14, 2014 Share Posted February 14, 2014 To be honest, such is my gratitude to the woman, we should really have a separate thread for people to convey this. You can argue about this or that but at the end of the day she has almost single handedly given us a way out of this situation. Spot on. Add to this the fact she has agreed to set up and chair the Board free of charge, effectively running the club for nothing. I think she is exactly the sort of person (successful business background) we will need in charge in the short to medium term to navigate us on to a stronger footing. Quote Link to comment Share on other sites More sharing options...
doctor jambo Posted February 14, 2014 Share Posted February 14, 2014 You do know what working capital is Doc? Yes- that wot pays the bills- ie corporate income, merchandise, ST sales, ticket purchase etc etc. IE all that we should be trying to live off from day one, bearing in mind that we have, for once, not spent ST income for next year already, and nor will we. BDO have us running at a profit at the moment- this "we will need extra money" scares the jeebus out of me. It means that they project to live outwith our means for a few years no ta Quote Link to comment Share on other sites More sharing options...
Davie749 Posted February 14, 2014 Share Posted February 14, 2014 Yes- that wot pays the bills- ie corporate income, merchandise, ST sales, ticket purchase etc etc. IE all that we should be trying to live off from day one, bearing in mind that we have, for once, not spent ST income for next year already, and nor will we. BDO have us running at a profit at the moment- this "we will need extra money" scares the jeebus out of me. It means that they project to live outwith our means for a few years no ta Yeah, I know, but you do realise that we have zero at this moment in time and when we come out of admin too. Quote Link to comment Share on other sites More sharing options...
Guest Bilel Mohsni Posted February 14, 2014 Share Posted February 14, 2014 (edited) Yes- that wot pays the bills- ie corporate income, merchandise, ST sales, ticket purchase etc etc. IE all that we should be trying to live off from day one, bearing in mind that we have, for once, not spent ST income for next year already, and nor will we. BDO have us running at a profit at the moment- this "we will need extra money" scares the jeebus out of me. It means that they project to live outwith our means for a few years no ta I don't think I've ever agreed with anything you've ever posted on here Doc... I don't see that changing any time soon on this evidence. Please tell me what your main gripe is? I understand every point you've made, but why not just make that one point and move on? You dont want to continue DDs after the loan is paid back, fine, you will be appreciated for doing it to begin with, thanks. You now seem more concerned with agitating to be honest... Edited February 14, 2014 by Sir David Attenborough Quote Link to comment Share on other sites More sharing options...
The Gasman Posted February 14, 2014 Share Posted February 14, 2014 Absolutely spot on. I just can't see why others can't see this. Not everyone has access to these Tweets, so don't have the full picture. Quote Link to comment Share on other sites More sharing options...
Schevchenko Posted February 14, 2014 Share Posted February 14, 2014 Budge love to watch Hibs get to-tally beat beat! Lol Quote Link to comment Share on other sites More sharing options...
doctor jambo Posted February 14, 2014 Share Posted February 14, 2014 I don't think I've ever agreed with anything you've ever posted on here Doc... I don't see that changing any time soon on this evidence. Please tell me what your main gripe is? I understand every point you've made, but why not just make that one point and move on? You dont want to continue DDs after the loan is paid back, fine, you will be appreciated for doing it to begin with, thanks. You now seem more concerned with agitating to be honest... Because a 2 year schedule has now stretched into 5? fan ownership has now become , erm, what exactly? The pledges were to buy the club- that was the message. That is now not the message If you need more capital to run the club hike the ticket prices etc I do not like the fact OUR money is now no longer being used to buy assets- stadium etc And if you disagree with that then fine You may also call it agitation if you wish, but my eyes are wide open on this one, and I do not see Budge as a saviour, not yet anyway Quote Link to comment Share on other sites More sharing options...
Socrates Posted February 14, 2014 Share Posted February 14, 2014 Because a 2 year schedule has now stretched into 5? fan ownership has now become , erm, what exactly? The pledges were to buy the club- that was the message. That is now not the message If you need more capital to run the club hike the ticket prices etc I do not like the fact OUR money is now no longer being used to buy assets- stadium etc And if you disagree with that then fine You may also call it agitation if you wish, but my eyes are wide open on this one, and I do not see Budge as a saviour, not yet anyway As has already been pointed out the FoH bid made to BDO originally had ?3.75 million of working capital in it. This really isn't a change. Quote Link to comment Share on other sites More sharing options...
Gav M Posted February 14, 2014 Share Posted February 14, 2014 Surely people can see that the pledges were sled for to pay for and stabalise the club. Things have to be done in the correct order. There is no point in there being fan ownership in the 1st 2 years if the club being bought will fold. By stabilising the club first, the fans will be handed a healthy club WITHIN 5 years, this means earlier if the funds are there. This may be due to 1 year in the championship rather than the budgeted 2, player sales, uptake in dd's, cup runs. People seem to be hanging on this 5 years as a specific time scale. It's not, it's worst case scenario. Sounds like an exceedingly good business model to m. Prepare for the worst and hope for the best, that way you're never caught short and anything more makes you stronger. Thank you Mrs Budge for bringing some sanity to this asylum and well done the hearts fans for making it possible. Oh, and, it's going to be written in to the bidco-fanco contract that the transfer is a legal formality, so this isn't going to be another decent in to 1 business persons personal madness. Quote Link to comment Share on other sites More sharing options...
Chrambo Posted February 14, 2014 Share Posted February 14, 2014 Because a 2 year schedule has now stretched into 5? fan ownership has now become , erm, what exactly? The pledges were to buy the club- that was the message. That is now not the message If you need more capital to run the club hike the ticket prices etc I do not like the fact OUR money is now no longer being used to buy assets- stadium etc And if you disagree with that then fine You may also call it agitation if you wish, but my eyes are wide open on this one, and I do not see Budge as a saviour, not yet anyway This is surely a troll? Quote Link to comment Share on other sites More sharing options...
ToYouToMe Posted February 14, 2014 Share Posted February 14, 2014 Yes- that wot pays the bills- ie corporate income, merchandise, ST sales, ticket purchase etc etc. IE all that we should be trying to live off from day one, bearing in mind that we have, for once, not spent ST income for next year already, and nor will we. BDO have us running at a profit at the moment- this "we will need extra money" scares the jeebus out of me. It means that they project to live outwith our means for a few years no ta Get real. We have to get back to challenging for European football asap. That is where the money is. We cannot afford mediocrity. The crowds for one will not hold up without a measure of success. That's modern football. Deal with it. Sent from my GT-I9300 using Tapatalk Quote Link to comment Share on other sites More sharing options...
2NaFish Posted February 14, 2014 Share Posted February 14, 2014 This is surely a troll? Read his posts on any subject. They're almost all like that. It goes to back up what i remember from uni, doctors are hardworking but some of the most inadvertently stupid people i've ever encountered. Quote Link to comment Share on other sites More sharing options...
Zachearts Posted February 14, 2014 Share Posted February 14, 2014 Cant believe that some people just thought they were pledging for a short period of time.....Be in from the start and will continue my pledge till the day i die. Quote Link to comment Share on other sites More sharing options...
Guest Bilel Mohsni Posted February 14, 2014 Share Posted February 14, 2014 Because a 2 year schedule has now stretched into 5? fan ownership has now become , erm, what exactly? The pledges were to buy the club- that was the message. That is now not the message If you need more capital to run the club hike the ticket prices etc I do not like the fact OUR money is now no longer being used to buy assets- stadium etc And if you disagree with that then fine You may also call it agitation if you wish, but my eyes are wide open on this one, and I do not see Budge as a saviour, not yet anyway Blah... Blah... Exactly as I said. If you are concerned about "our money"then once the club is bought, just stop making your pledge, no-one will blame or criticise you. As it stands just now though, most people seem pretty easy about it. Would you like them to change their minds and not pledge for longer than the debt repayment? Quote Link to comment Share on other sites More sharing options...
doctor jambo Posted February 14, 2014 Share Posted February 14, 2014 Blah... Blah... Exactly as I said. If you are concerned about "our money"then once the club is bought, just stop making your pledge, no-one will blame or criticise you. As it stands just now though, most people seem pretty easy about it. Would you like them to change their minds and not pledge for longer than the debt repayment? NO-one would criticise me for it? Really? Football fans are massively myopic when it comes to their club- any club I am not And I would not tell other to pledge or otherwise- that is a personal decision. I can just see a million ways that this can go wrong- and there have been very few robust rebuttals of my arguments here Quote Link to comment Share on other sites More sharing options...
Meadows Posted February 14, 2014 Share Posted February 14, 2014 I have absolutely no problem with the existing DD money being used to see us to the end of the season if required.I have no problem with the DD monies getting us through the close season from May to August. Indeed i have no problem with how any FoH monies are used / utilised. I do have a slight problem with what appears to be 'leaks' from within regarding who is going to be sacked / replaced / hired etc from those ITK. I would prefer such information to be kept in-house until official. Quote Link to comment Share on other sites More sharing options...
Guest Bilel Mohsni Posted February 14, 2014 Share Posted February 14, 2014 NO-one would criticise me for it? Really? Football fans are massively myopic when it comes to their club- any club I am not And I would not tell other to pledge or otherwise- that is a personal decision. I can just see a million ways that this can go wrong- and there have been very few robust rebuttals of my arguments here Everyone knows what you are saying, we're comfortable with it and we pretty much dinnae care... you are going to stop pledging for the reasons you gave. Why are you still griping though? Is it to justify it further to yourself, or to try and put others off? Quote Link to comment Share on other sites More sharing options...
doctor jambo Posted February 14, 2014 Share Posted February 14, 2014 Because I am the new version of the "hat kicker" brigade? Quote Link to comment Share on other sites More sharing options...
Guest Bilel Mohsni Posted February 14, 2014 Share Posted February 14, 2014 Because I am the new version of the "hat kicker" brigade? I'm happy you have such a high opinion of your yourself. Well done. Quote Link to comment Share on other sites More sharing options...
jbee647 Posted February 14, 2014 Share Posted February 14, 2014 (edited) Get real. We have to get back to challenging for European football asap. That is where the money is. We cannot afford mediocrity. The crowds for one will not hold up without a measure of success. That's modern football. Deal with it. Sent from my GT-I9300 using Tapatalk This in a nutshell, the purpose of a football club is to play football and win matches We have to be as competitive as we can right from the first ball is kicked next season Mediocrity is not an option Edited February 14, 2014 by jbee647 Quote Link to comment Share on other sites More sharing options...
scottish_chicP Posted February 14, 2014 Share Posted February 14, 2014 This in a nutshell, the purpose of a football club is to play football and win matches We have to be as competitive as we can right from the first ball is kicked next season Mediocrity is not an option For an example see Hibs. Quote Link to comment Share on other sites More sharing options...
Davie749 Posted February 14, 2014 Share Posted February 14, 2014 Because I am the new version of the "hat kicker" brigade? What you do in that case is you cancel your pledge and move on if you have any reservations. Stirring up doubt on here is NOT really going to help the cause. Quote Link to comment Share on other sites More sharing options...
Paolo Posted February 14, 2014 Share Posted February 14, 2014 I do, rather have Mrs Budge sorting things out for the medium term than all of us roasters, me included. Now that is undisputable. Quote Link to comment Share on other sites More sharing options...
Gene Parmesan Posted February 14, 2014 Share Posted February 14, 2014 I'm beginning to suspect that he's not a real doctor. Quote Link to comment Share on other sites More sharing options...
corryjambo Posted February 14, 2014 Share Posted February 14, 2014 I have supported Heart of Midlothian since my Dad took me to my first game in 1955. The quality of the teams I have watched and supported over the years have ranged from brilliant in the 1950's to mediocre in the 70's and early 80's. However there has been one constant in all this time, and that is the fact that this club has always appeared to have financial problems. From selling Dave Mackay and Alex Young along with George Thomson, and even later Eamonn Bannon to raise funds even though most of those players would have been happy to stay. To the rescue of the club by Wallace Mercer, his subsequent sale to Chris Robinson and Leslie Deans. The horrible miss management of the club by Robinson and the desperate lies he told when trying to sell Tynecastle before Bank of Scotland foreclosed on our overdraft. Then we had the madness of the Romanov regime, the massive overspending which everyone knew was unsustainable in the medium to long term. We now know that his apparent wealth was built on sand and when the recession arrived his empire collapsed and we came close to losing "our club", because that is what it is, it is "our club" everyone else, players, management and owners are merely custodians. We now have the chance to consign these problems to history and build a brighter financial future for our club. I also want our club to win back the dignity and pride which has been sadly tarnished over the last few years. Whilst everyone has the right to question the way we are going forward and ask relevant questions I cannot understand some of the negativity on this thread and the attitude to some people to the rescue package. Please remember where we were a few months ago, when I genuinely thought our club would be liquidated, and see where we are now. I would personally like to thank FOH and in particular Ann Budge for making this possible, and if they require 5 years to put us on a sound financial footing in the short to medium term then so be it. They will have my full support, and I hope the backing of the vast majority of pledgers to ensure that we never again have the financial problems of our past. Onwards and upwards. HHGH and FTH Quote Link to comment Share on other sites More sharing options...
AIRCON1 Posted February 14, 2014 Share Posted February 14, 2014 What AN ******* you are sir...... Quote Link to comment Share on other sites More sharing options...
upgotheheads Posted February 14, 2014 Share Posted February 14, 2014 Cant believe that some people just thought they were pledging for a short period of time.....Be in from the start and will continue my pledge till the day i die. Some people don't seem to get what fan ownership means. It's a different concept from 'turning up sometimes if your team happens to be going through a good patch'. It might be useful though if there was a standard member's donation, say ?15 per month. 8'000 X 15 X 12 = ?1,440,000 or the difference between two or three good signings and having a good season, or not and having a bad one. ?15 per month is about 1 pint per week at Edinburgh prices. Quote Link to comment Share on other sites More sharing options...
AIRCON1 Posted February 14, 2014 Share Posted February 14, 2014 Doctor Jambo... :bobby: Quote Link to comment Share on other sites More sharing options...
Glamorgan Jambo Posted February 14, 2014 Share Posted February 14, 2014 Who's going to join me for a 'Budge Out' demo behind the main stand after the Celtic game???? Only joking ---- huge thanks to Ann Budge for playing a critical role, without which the dream of fan ownership would simply not happen. and we'd be looking at the likes of Massone in the directors box next season. Personally I'm delighted the plan spreads out for a few years as I'll have the capability to donate a lot more in 3 years time once my 2 daughters complete their financially ruinous (for me) education. Quote Link to comment Share on other sites More sharing options...
Watt-Zeefuik Posted February 14, 2014 Share Posted February 14, 2014 I can completely understand folks not getting the details of the financing until now -- it's been complicated. I can also understand the debate as to whether or not it's a good idea to keep up the pledges after the club is bought, or to rely on operating revenue to pay for everything. However... The extra money for operating expenses is not new to the proposal. Please refer to this URL for the details of the three bids submitted for the CVA: http://www.scotsman.com/sport/football/spfl/hearts-administration-financial-detail-of-bids-1-3000656 FoH won over Massone's consortium precisely because it included funds for the operation of the club. The exact figure cited in that article is ?3.75 million. So, if there's any change, it's a change of ?50k. As far as why we're waiting until the third year to start buying shares, this is a favor that Ann Budge is doing for the club. Otherwise we would require bridge loans in order to be solvent for those first two years. Every business needs operating capital, and the club will emerge from administration with none. Because we're going to be the new owners, we have to put that money up. This is the new world of fan ownership we're going to live in. We should absolutely be vigilant in monitoring how it is spent, but that money was always going to be needed to keep the club operating. That's not some surprise from FoH, that's basic business administration. Quote Link to comment Share on other sites More sharing options...
JAMBONI Posted February 14, 2014 Share Posted February 14, 2014 I have supported Heart of Midlothian since my Dad took me to my first game in 1955. The quality of the teams I have watched and supported over the years have ranged from brilliant in the 1950's to mediocre in the 70's and early 80's. However there has been one constant in all this time, and that is the fact that this club has always appeared to have financial problems. From selling Dave Mackay and Alex Young along with George Thomson, and even later Eamonn Bannon to raise funds even though most of those players would have been happy to stay. To the rescue of the club by Wallace Mercer, his subsequent sale to Chris Robinson and Leslie Deans. The horrible miss management of the club by Robinson and the desperate lies he told when trying to sell Tynecastle before Bank of Scotland foreclosed on our overdraft. Then we had the madness of the Romanov regime, the massive overspending which everyone knew was unsustainable in the medium to long term. We now know that his apparent wealth was built on sand and when the recession arrived his empire collapsed and we came close to losing "our club", because that is what it is, it is "our club" everyone else, players, management and owners are merely custodians. We now have the chance to consign these problems to history and build a brighter financial future for our club. I also want our club to win back the dignity and pride which has been sadly tarnished over the last few years. Whilst everyone has the right to question the way we are going forward and ask relevant questions I cannot understand some of the negativity on this thread and the attitude to some people to the rescue package. Please remember where we were a few months ago, when I genuinely thought our club would be liquidated, and see where we are now. I would personally like to thank FOH and in particular Ann Budge for making this possible, and if they require 5 years to put us on a sound financial footing in the short to medium term then so be it. They will have my full support, and I hope the backing of the vast majority of pledgers to ensure that we never again have the financial problems of our past. Onwards and upwards. HHGH and FTH Excellent post. Quote Link to comment Share on other sites More sharing options...
Stuart Lyon Posted February 14, 2014 Share Posted February 14, 2014 CorryJambo - well said I completely agree with you. Quote Link to comment Share on other sites More sharing options...
Toxteth O'Grady Posted February 14, 2014 Share Posted February 14, 2014 Ann Budge will be good for Hearts - of that I am confident. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.