Ann Budge

[kingantti1874]

 

 

I trust Ann Budge 100% and a drinking buddy of mine has known her personally for years.

 

I just think the plan does not deliver what I bought into. The plan is a perfectly reasonable one but there is an assumption that everyone, whose primary interest was only to save the club, is now being asked to contribute to the running of the club for a further two years, and are willing to do so.

 

You never bothed to read the plan then .. Honestly pish like this depresses me, we are on the verge of our greatest ever victory

[I.T.K]

Surprised at some of the comments about how the funds will be used.

 

If you had told me last year we need to raise 6 million in 5 years to own a healthy Hearts football club I would thought it was reasonable.

 

I think what is proposed is good and realistic balance of getting the club off it's knee's, giving the fans what they want, and protecting the Queen AB's initial investment.

 

I'm excited to see who we will do next season, in 5 years, and years after.

 

Pledging for life!

Edited February 14, 2014 by I.T.K

[west lothian loyal]

I have a great idea , why don't we all just cancel the dd and let the club die .

 

Then we can all go shopping every Saturday then come home and have a wee sleep at 3.00 o'clock when we should be watching the club we let die.

 

Stop bickering and let's get behind this great club .

 

It's simple if you want to pay then do so , if you don't then don't but no one is interested in your reasons for not doing so.

[Maroon Sailor]

 

It's simple if you want to pay then do so , if you don't then don't but no one is interested in your reasons for not doing so.

 

 

Exactly this.

 

 

[Guest Bilel Mohsni]

It's healthy that people should ask questions. I must admit though, some of the opinions about this have really surprised me. Each to their own though.

[BobbyJenkins]

i always assumed my monthly pledge was going to continue until the day i died or could no longer afford it.......... this has not changed

 

This is where I'm at.

 

 

Sent from my iPhone using Tapatalk

[Fxxx the SPFL]

What hacks me off is the continual negativity even when a positive statement is made. Some posters also continually asking the same questions over and over. I made my pledge to FoH as far as i am concerned for life if people couldn't read between the lines and realise that some/part of the pledges would be used for working capital must have been living in cloud cuckoo land. It's time for all this nonsense to stop and all supporters to stand up and be counted this will be our only chance to truly own our club and hopefully safguard it for generations to come.

 

If you have not pledged and can afford to do so or increase your pledge then now is the time to do so.

[gowestjambo]

Oh for Christ's sake, grow up. Sorry, but how in any way shape or form does that address my point. You complain in one line about people's "attitudes", as

though that is a meaningful contribution to a discussion. You then say "stop trolling" as though that was a meaningful contribution to a discussion. Jeez.

 

You have been highly critical of the FoH since the start, fortunately the Supporters with vision are about to win the day.

 

You seem to revel in being negative, and are all over any FoH thread like a rash. I have no interest in addressing your points, as I find you an excruciating bore.

[the general]

What hacks me off is the continual negativity even when a positive statement is made. Some posters also continually asking the same questions over and over. I made my pledge to FoH as far as i am concerned for life if people couldn't read between the lines and realise that some/part of the pledges would be used for working capital must have been living in cloud cuckoo land. It's time for all this nonsense to stop and all supporters to stand up and be counted this will be our only chance to truly own our club and hopefully safguard it for generations to come.

 

If you have not pledged and can afford to do so or increase your pledge then now is the time to do so.

well said that man

[Fxxx the SPFL]

well said that man

hope you will be running buses next season Kenny for the lower league it will be like the seventies all over again. Thats the laddies wedding past now so will have plenty shekles for away games.

[ford donald]

She should be respected and admired! Without her, we would be in big trouble gong nowhere.A big thank you from me, goes to her,she is the savouir of Hearts f.c.

[livingstonjambo]

I cant believe some of the complaints about using our contributions as working capital. For year one it could quite easily be called funding the CVA as after the initial 2.5 Million put up by AB we have other commitments required to continue as a club. We have to pay ?550k to footballing creditors, ?500k over 10 months to UKIO and ?50k to UBIG for shares which is ?1.1 million straight off the bat. There is also a shortfall for this season and we are due to run out of money in April, therefore funding the club from April until the start of June will probably be another ?300k which means all additional 'working capital' will have been used in the first two months.

 

Alternatively we could do what the last regime done and spend next years season ticket money to fund all of this and end up in the same position..... Great idea that one.

[rossthejambo]

Fair play for fronting the cash, if it saves the club and we get back to where we belong then we will all be grateful.

 

People that take questions about the FOH and their plans as some sort of personal slight really need to have a word with themselves though.

[Francis Albert]

 

So according to you she should pay that sum out of her own funds ?...........some kind of gift to us is it ?

 

Unless of course you think we can survive and prosper without that income ?............if so then fine but just say that rather than indicating she is somehow ripping us off

Thats what disappoints me re your comments..............tell us what you think rather than attack or infer things about someone else when you have nothing to base it on.

I haven't said anything to suggest Ann Budge is ripping us off. I haven't suggested she should pay the ?3.8m out of her own funds. At most I have

implied she has shown herself to be a better negotiator than FoH. I find the reaction on here to any questioning or even comments about the "plan" depressing. Football First has hardly ever posted anything on here without being complimented as one of the best and most knowledgable posters. He dares to post, clearly and calmly, a view that differs from that of the mob and suddenly he is "seething" and posting "pish without bothering to read the plan".

Edited February 14, 2014 by Francis Albert

[jambokev]

What hacks me off is the continual negativity even when a positive statement is made. Some posters also continually asking the same questions over and over. I made my pledge to FoH as far as i am concerned for life if people couldn't read between the lines and realise that some/part of the pledges would be used for working capital must have been living in cloud cuckoo land. It's time for all this nonsense to stop and all supporters to stand up and be counted this will be our only chance to truly own our club and hopefully safguard it for generations to come.

 

If you have not pledged and can afford to do so or increase your pledge then now is the time to do so.

100% Agree Ray, I signed up for life not a short term fix ! . Through good times and bad Proud to be a Jambo

This Hearts still beating

[I.T.K]

When I state 'Pledging for life' I say this as I want to see the club grow.

 

The club needs investment to grow and we have many threads about how we would run the club if we had the millions.

 

But we don't, and I don't feel some owner with 'off the radar' wealth is around the corner.

 

But I feel, with pledging, we can bring in the extra funds and with fan ownership we say how this is spent. I really feel this will bring a buzz around the club and hope this will lead to more fans through the turnstiles, more pledgers, and more success.

[Guest Bilel Mohsni]

I haven't said anything to suggest Ann Budge is ripping us off. I haven't suggested she should pay the ?3.8m out of her own funds. At most I have

implied she has shown herself to be a better negotiator than FoH. I find the reaction on here to any questioning or even comments about the "plan" depressing. Football First has hardly ever posted anything on here without being complimented as one of the best and most knowledgable posters. He dares to post, clearly and calmly, a view that differs from that of the mob and suddenly he is "seething" and posting "pish without bothering to read the plan".

 

I understand why Footballfirst and yourself would be concerned about changes to what you had understood to be the plan. That's just natural.

 

Would you say that you see the plan currently being reported as positive though? You must be feeling a wee lift from knowing for sure who Bidco are and that progress is being made?

 

Wee bit cautious optimism, surely?

[poultry]

Well done and a big thank you to Ann Budge, FOH, BDO, and all supporters who have contributed. My DD will never be canceled and HMFC can have my money till the day I die, if they so wish.

[Hartley Jambo.]

Who knows if AB will walk away with nothing after 5 years apart from some token interest on her money.

Current plan is to "transfer majority ownership to the fans", that could still see her with a decent amount of shares.

 

[Guest Bilel Mohsni]

Well done and a big thank you to Ann Budge, FOH, BDO, and all supporters who have contributed. My DD will never be canceled and HMFC can have my money till the day I die, if they so wish.

 

Remember how bleak things looked before agreement with Ukio and UBIG? I feel nothing but elation about this to be honest.

 

Thanks Ms Budge

[Guest GhostHunter]

I think people need to lay off the personal abuse within this thread unless they want to be viewing from afar instead of participating.

[blairdin]

There's two separate questions worth debating here.

 

The first is that the FOH funds for the first two years will be directed to working capital before we start to repay BIDCO. That is surprising but I think all pledgees can and will live with that.

 

Issue two is the pledge for life thing. Absolutely not what I thought this was about. Even if people want to, the day to day running of the club has to be done based on normal football revenues and club income streams and not an assumption. That people will continue to pay a (sometimes hefty when you think about the donation levels) premium over and above season tickets and merchandise.

 

If we are to keep on pledging a after five years, IMHO it should be to achieve a new extraordinary goal such as a new stand/stadium.

Edited February 14, 2014 by blairdin

[The Treasurer]

I'm quite surprised by FF's stance on continuing DD payment once the club is in FoH's hands, but as one of the best posters on here , I fully respect his views

My understanding is that signing up to FoH was more like paying an annual membership fee.

Some may argue, rightly in a way, that your ST money entitles you to "membership" but to me that is a fee to purchase a seat at matches, not to be a member/owner of the club.

As with say a golf club, members pay annual subs, which are seen by the club an additional/normal income stream and therefore by spending that income they are not living beyond their means.

It is up to every individual if you wish to continue your membership or not.

Edited February 14, 2014 by The Treasurer

[poultry]

I think people need to lay off the personal abuse within this thread unless they want to be viewing from afar instead of participating.

Halelua

[Francis Albert]

 

 

 

I understand why Footballfirst and yourself would be concerned about changes to what you had understood to be the plan. That's just natural.

 

Would you say that you see the plan currently being reported as positive though? You must be feeling a wee lift from knowing for sure who Bidco are and that progress is being made?

 

Wee bit cautious optimism, surely?

Yes it's hugely positive compared towhere we would otherwise have been. I am more than cautiously optimistic that the club will be owned by us in 5 years. Questioning why it is 5 years not 2 (which despite the wave of "I always knew it would

be this way" posts is what I believe was more like the timescale most expected) is not inconsistent with optimism and positivity. I am not even saying it's a bad thing, just

asking what our ?1.4m a year subsidy is for. And yes, good to know it's Ann Budge who as I've said seems a bright cookie - truly a "big business brain" (although the new line of course is that we have all known it was her all along).

[blairdin]

I'm quite surprised by FF's stance on continuing DD payment once the club is in FoH's hands, but as one of the best posters on here , I fully respect his views

My understanding is that signing up to FoH was more like paying an annual membership fee.

Some may argue, rightly in a way, that your ST money entitles you to "membership" but to me that is a fee to purchase a seat at matches, not to be a member/owner of the club.

As with say a golf club, members pay annual subs, which are seen by the club an additional/normal income stream and therefore by spending that income they are not living beyond their means.

It is up to every individual if you wish to continue your membership or not.

 

Fair point.

 

With a membership everyone pays the same amount. Once the purchase from BIDCO to FANCO has been completed this would need to be put in place. You can't have people paying ?10 per month whilst others are paying ?51 or ?100 for the same thing.

 

The last 24hrs have been hugely positive, and I'm delighted. But debate, scrutiny and questions are healthy.

Edited February 14, 2014 by blairdin

[poultry]

Remember how bleak things looked before agreement with Ukio and UBIG? I feel nothing but elation about this to be honest.

 

Thanks Ms Budge

Remember it well. Onwards and upwards.

[DETTY29]

There's two separate questions worth debating here.

 

The first is that the FOH funds for the first two years will be directed to working capital before we start to repay BIDCO. That is surprising but I think all pledgees can and will live with that.

 

Issue two is the pledge for life thing. Absolutely not what I thought this was about. Even if people want to, the day to day running of the club has to be done based on normal football revenues and club income streams and not an assumption. That people will continue to pay a (sometimes hefty when you think about the donation levels) premium over and above season tickets and merchandise.

 

If we are to keep on pledging a after five years, IMHO it should be to achieve a new extraordinary goal such as a new stand/stadium.

Now Ive read the statement from FOH/BIDCO and the other links about the ?5.75m CVA proposal I'm a bit more relaxed today. Still a wee bit disappointed no pay back for 2 years, even a few hundred k.

 

I'd hoped in 5 years the club would be stable and completely stand alone self sufficient with pledges moving more to an annual fee with some benefits.

 

However, as you state a new main stand will be required soon.

Edited February 14, 2014 by DETTY29

[Guest Bilel Mohsni]

 

Yes it's hugely positive compared towhere we would otherwise have been. I am more than cautiously optimistic that the club will be owned by us in 5 years. Questioning why it is 5 years not 2 (which despite the wave of "I always knew it would

be this way" posts is what I believe was more like the timescale most expected) is not inconsistent with optimism and positivity. I am not even saying it's a bad thing, just

asking what our ?1.4m a year subsidy is for. And yes, good to know it's Ann Budge who as I've said seems a bright cookie - truly a "big business brain" (although the new line of course is that we have all known it was her all along).

 

Love it.

 

Here's to a bright new future.

[livingstonjambo]

Yes it's hugely positive compared towhere we would otherwise have been. I am more than cautiously optimistic that the club will be owned by us in 5 years. Questioning why it is 5 years not 2 (which despite the wave of "I always knew it would

be this way" posts is what I believe was more like the timescale most expected) is not inconsistent with optimism and positivity. I am not even saying it's a bad thing, just

asking what our ?1.4m a year subsidy is for. And yes, good to know it's Ann Budge who as I've said seems a bright cookie - truly a "big business brain" (although the new line of course is that we have all known it was her all along).

 

?1.4 million this year will be used to pay the other parts of the CVA and not subsidise anything.

[frankblack]

I think this is good news.

 

I worked for Newell and Budge back in the 90s as a work placement student for a year, and learned a lot from that experience to go back and finish my course and gain regular employment. She and her daughter are dedicated hearts fans that have been season ticket holders for longer than I knew them, and I saw them regularly in our end at away games.

 

I don't think we as Hearts fans could be looking for many better people to get the club back on its feet.

[The Treasurer]

Again fair point Blairdin, but a lot of clubs, golf clubs, gyms etc have different levels of membership which entitles the member to different levels of access to whatever the club has to offer. This could include access to "members bars", shop discounts, etc.

[Justaguest]

That's fine and will deliver the club to the fans within 5 years. Ann Budge is clearly a very capable businesswoman and (I hope) will have presented a number of options to the current FOH Board and that the current proposal was agreed as the best way forward.

 

However, I come back to the point that FoH's primary aim was to deliver ownership of the club, not to generate additional funds to run the club. Given that the two years "working capital" requirement and a five year plan for ownership has come as a surprise to some (certainly me), I would have thought that it was incumbent on FOH to at least seek some feedback on the alternative means of achieving their aims and risks associated with each, thereby achieving a better consensus.

 

But wasn't it always clear, that at first the aim was to deliver ownership, and when this is achieved the pledges would be used as additional funds to run the club. That's exactly how fan-owned clubs are run in Germany or Spain, the membership fees (equivalents of pledges) are used as another income stream, they are literally used for banal things as paying players wages (Barcelona must get somewhere around 14M euros annually from the membership fees/pledges). The only thing that "changed" is that the lady who loaned the money, prefers to wait to get her money back and rather wants this money in the first two years to be used to get the club out of the Championship ASAP (or maybe better said: into a more stable financial position). To me, as an outsider, this looks like a better arrangement (for the club and its fans).

 

If I'm getting this right (from your other posts), you're not really interested in fan ownership, and you're just pledging to save the club from liquidation, and you were prepared to cancel the pledges once the club is saved, and now feel "tricked" as your money won't be used to repay the loan from day one. In this sense, your "displeasure" is valid, but on the other hand probably the majority of pledgers were in it for the long run -- to make the club literally their own and to help the club with additional funds, season after season.

[Homme]

Fantastic news. In Ann we trust.

[Boaby Ewing]

Huge victory for those who have backed FoH from the start. Huge.

[Jammy T]

Jesus Christ, some hearts fans need to give themselves a shake.

 

Romanov has left a disaster site. We need a complete rebuild of club on and off the pitch and we have a funder willing to allow us two years grace in repayments in order to be able to do it.

 

And some people think that's a bad thing?

 

Grow up FFS and sort yourselves out.

 

[Phil D. Corners]

 

 

Fair point.

 

With a membership everyone pays the same amount. Once the purchase from BIDCO to FANCO has been completed this would need to be put in place. You can't have people paying ?10 per month whilst others are paying ?51 or ?100 for the same thing.

 

The last 24hrs have been hugely positive, and I'm delighted. But debate, scrutiny and questions are healthy.

 

Would like a deal for overseas fans, that can't get to games, where Hearts world international, a Didgital subscription of the program, and the pledge is all included.

 

Not sure how many takers there would be.

[Sterling Archer]

While a membership scheme sounds nice, i thought it couldn't happen for tax reasons?

[RustyRightPeg]

Quite shocked by some reactions on here...

 

See nothing but positives from this. Could be wrong though.

[blairdin]

While a membership scheme sounds nice, i thought it couldn't happen for tax reasons?

 

it's essentially becomes a product and not a charitable donation, so the VAT man would want his 20%.

[DR1981]

We don't want to get back into the mess we were in but we also want to get back into the top flight. Delighted with the plan and also the positivity the majority seem to have.

[Zico]

This is great news and I'm very grateful for Ann fronting up with the cash. I'd interpreted the direct debit as ongoing funding in addition to helping fund the purchase so I've got no concerns there. I also anticipated initial funding to be steeper than that required on an ongoing basis. As long as this is for infrastructure rather than speculating by paying inflated salaries, I'm fine with that.

 

This is worthy of discussion and questioning though and those that do so, particularly FF, deserve respect.

[The Treasurer]

Fully understand the tax implications of making FoH contributions into a membership scheme, but it would still generate additional income for the club, which can only be a good thing (in the right hands of course)

[Don Dan]

Remember that in 5-6 years time we the fans will own the club unlike those over at the .methodome where Sir Tom who stepped in to save them own SFA. I'll take 5-6 years and it's our thanks.

[tartofmidlothian]

What hacks me off is the continual negativity even when a positive statement is made. Some posters also continually asking the same questions over and over. I made my pledge to FoH as far as i am concerned for life if people couldn't read between the lines and realise that some/part of the pledges would be used for working capital must have been living in cloud cuckoo land. It's time for all this nonsense to stop and all supporters to stand up and be counted this will be our only chance to truly own our club and hopefully safguard it for generations to come.

 

If you have not pledged and can afford to do so or increase your pledge then now is the time to do so.

 

 

Highly correct.

[blairdin]

Jesus Christ, some hearts fans need to give themselves a shake.

 

Romanov has left a disaster site. We need a complete rebuild of club on and off the pitch and we have a funder willing to allow us two years grace in repayments in order to be able to do it.

 

And some people think that's a bad thing?

 

Grow up FFS and sort yourselves out.

 

To be fair, I don't think any of us (including us that are slightly more sceptical or inquisitive) are against pumping extea money into the club for 5 years to repay BIDCO and get us on a sound financial footing.

 

Beyond that, you are essentially asking people to stump up a minimum of ?120 per year on top of their usual season tickets and match tickets. That's a massive premium compared to comparable supporters at other clubs for what is a poor product. That's why I come back to any ongoing pledges after five years being put towards some extraordinary use, such as a stand/stadium improvements.

[The Real Maroonblood]

Well done Ann.

Happy Valentines Day.

xxx

[Francis Albert]

 

 

 

?1.4 million this year will be used to pay the other parts of the CVA and not subsidise anything.

Sorry I've missed something. What "other parts of the CVA"?

[DETTY29]

Noticed negative slant already in the Sun. Axe wielder Budge, along the lines of.

 

 

PS - I'd be delighted if Ms Budge was a long term chairperson post fans ownership.

 

It would mean she's doing all the right things.

[Nookie Bear]

Jesus Christ, some hearts fans need to give themselves a shake.

 

Romanov has left a disaster site. We need a complete rebuild of club on and off the pitch and we have a funder willing to allow us two years grace in repayments in order to be able to do it.

 

And some people think that's a bad thing?

 

Grow up FFS and sort yourselves out.

 

Agree.

 

I was not too fussed as to where my pledge ended up, as long as it went towards the upkeep of a well-run club (ooohhh....hobo language!!)

 

At the end of the day I have to put my faith in the new owners to do the right thing by the club. The evidence will be on the pitch.