Ann Budge update

[Jammy T]

Chicken and egg. Without the FoH pledges, then no way Budge would have ponied up the cash to pay the CVA. If not Budge, then who would have?

 

 

Which goes to show how important it was that a small group of intelligent fans who hated Romanov's ways and saw where we were headed had the foresight to get that ball rolling when they did.

[Boris]

Before I and others decide that they've got no idea what they're doing with the football.

 

Seriously, they need to get a grip of this if they want to retain some credibility.

 

And once you and others decide that they have no idea...what then?

[Boris]

Which goes to show how important it was that a small group of intelligent fans who hated Romanov's ways and saw where we were headed had the foresight to get that ball rolling when they did.

 

Oh, indeed.  Not trying to denigrate what the FoH has and is still doing.

 

Only pointing out that without Budge, however fantastic the FoH is, we (I can say we as I contribute, yes?) wouldn't have had enough to pay for the CVA, ergo the club would have been liquidated and we would have ended up in the second division (given precedence of The Rangers) and potentially split support who accepted we were in fact a completely different entity.

[Dusk_Till_Dawn]

And once you and others decide that they have no idea...what then?

 

A world of bottom-half finishes and general discontent.

[Boris]

A world of bottom-half finishes and general discontent.

 

Fair enough, I thought you were building up to some revolutionary treatise!

 

I do agree with you that this appointment is incredibly important to the future direction of the footballing side of the club.  There are no guarantees, but fingers crossed it goes well.

 

Cathro was a gamble that failed, time to back a "dead cert", if there is such a thing.

[graygo]

Before I and others decide that they've got no idea what they're doing with the football.

 

Seriously, they need to get a grip of this if they want to retain some credibility.

 

You and others have already decided this.

[Dusk_Till_Dawn]

Fair enough, I thought you were building up to some revolutionary treatise!

 

I do agree with you that this appointment is incredibly important to the future direction of the footballing side of the club.  There are no guarantees, but fingers crossed it goes well.

 

Cathro was a gamble that failed, time to back a "dead cert", if there is such a thing.

 

Amen man. That's all I'm saying.

[DH1986]

It's a last chance really.

Finding the right guy is not easy. A huge number of us thought Cathro was the right guy!!

 

I could name you dozens of apparently very good managers/Coaches that clubs and fans thought were the right guy for their club and for one reason or another he wasn't.

 

Look at Man Utd....LVG then Moyes. Both well respected and pretty high up the tree.....they flopped. Should the Man Utd board have gone after these mistakes ? They've had managers and directors who've combined to waste hundreds of millions on players and coaching staff. And whilst I realise we aren't Man Utd....it's all relative. No matter what size of club you are, errors are inevitable.

 

How many years of average managers did it take until Aberdeen got McInnes ? And they only got him because he was sacked from the mighty Bristol City !!

 

We can't just keep sacking the board for not finding the guy to run the team. Especially when so far they've got one right and one wrong.

 

There clearly isn't an outstanding candidate....well certainly not in our salary bracket.

 

There are too many folk on here think running a football club and team is a doddle and mistakes shouldn't happen.

 

If only it was that simple.....

 

 

 

 

 

 

Sent from my iPhone using Tapatalk

[Dusk_Till_Dawn]

You and others have already decided this.

 

D'you know what, I'm only saying what I see. I'm fully prepared to table a formal mea culpa if the club get a handle on this and restore some direction again. This is their opportunity tbf.

[graygo]

Oh, indeed.  Not trying to denigrate what the FoH has and is still doing.

 

Only pointing out that without Budge, however fantastic the FoH is, we (I can say we as I contribute, yes?) wouldn't have had enough to pay for the CVA, ergo the club would have been liquidated and we would have ended up in the second division (given precedence of The Rangers) and potentially split support who accepted we were in fact a completely different entity.

 

Edit: wrong info - sorry

 

Double edit - having checked again my point stands.

 

Rangers were liquidated after our problems so weren't a precedent, no way would we have been shoehorned against the rules into the second division.

[Des Lynam]

Before I and others decide that they've got no idea what they're doing with the football.

 

You going to buy Budge out?

 

Before I and others decide

[Dusk_Till_Dawn]

You going to buy Budge out?

 

Before I and others decide

 

Listen Desmond, if you think the club can go forward with a fanbase who think they're clueless, you crack on.

[Boris]

Edit: wrong info - sorry

 

Double edit - having checked again my point stands.

 

Rangers were liquidated after our problems so weren't a precedent, no way would we have been shoehorned against the rules into the second division.

 

Rangers CVA failed long before ours was on the table.  If not, why were they in the Championship when we were relegated?

 

I.E. Rangers were a precedent!

[Boab]

A world of bottom-half finishes and general discontent.

Have a coffee, bud.

All will be well !

[The Treasurer]

Listen Desmond, if you think the club can go forward with a fanbase who think they're clueless, you crack on.

Made mistakes  ?   Yes

 

Clueless ?   No

[Dusk_Till_Dawn]

Made mistakes  ?   Yes

 

Clueless ?   No

 

We're going to find out, aren't we?

[Cut The Crap]

I remember the days when there was a fair cohort on here telling us that scrutinising Vlad was "stupid" as well. Look where that got us.

 

I'm sure Dr Budge is more than capable of dealing with any (in my eyes justified and welcome) amateur scrutiny on here.

 

After all, she's not doing anything underhand is she?

[Des Lynam]

Listen Desmond, if you think the club can go forward with a fanbase who think they're clueless, you crack on.

 

A fan base?? What folk on JKB? This place must represent at most about 5% of those that go to games.

[BobbyJenkins]

We're going to find out, aren't we?

 

Indeed we are and I cannae wait.

 

A fan base?? What folk on JKB? This place must represent at most about 5% of those that go to games.

 

Thank ****.

[NEWSTAND]

I might be totally wide of the mark but I am hoping the club pull a rabbit out the hat with the managerial appointment and that we the fans will be pleasantly surprised.

 

I have my doubts though and only pinning my hopes on the fact that this rabbit has not been released to the press as one of the candidates on the short list. JD has done well however AB mentioned next appointment would have experience and I agree with the view that JD is one for the future.

 

Forever the optimist which is a trait you have to have being a hearts supporter onwards and upwards!

[john5698]

Ann's Investments

?2,400,000 loan to finance the CVA

?100,000 to purchase the UBIG shares

?19,000 to purchase the Quantum shares

?300,000 interest free period on the loan

 

What Ann will take back from the club

?472,000 professional fees - Paid

?110,000 loan arrangement fee - Paid

?24,000 loan interest 2013/2014 - Paid

?172,000 loan interest 2014/15 - Paid

?3,750 Bidco's audit fees 2014/15 - Paid

?159,500 loan interest 2015/16 - Paid

?4,000 Bidco's audit fees 2015/16 - Paid

?300,000 future loan interest during the loan repayment period

?100,000 future share purchase for 75.1% of the club

?2,400,000 future loan repayment

 

Ann's legacy

Ownership of 17.4% of the club's shares for a net outlay of ?19,000

 

Ann has not taken a salary from the club, but her legacy will ensure that she will be well rewarded for her investment.

Just what exactly is this post all about? Are you insinuating that Ann Budge has taken all of this money out of her initial investment or has this been paid by the club /Ann Budge and refunded to her. Also, based on the figures you have highlighted her investment is actually ?2,819.000. 

[redm]

I remember the days when there was a fair cohort on here telling us that scrutinising Vlad was "stupid" as well. Look where that got us.

 

I'm sure Dr Budge is more than capable of dealing with any (in my eyes justified and welcome) amateur scrutiny on here.

 

After all, she's not doing anything underhand is she?

 

 

There is literally no comparison between the two though. None whatsoever. Night and day.

 

It's not scrutiny I have an issue with, it's this bizarre and slightly vicious need to cast aspersions or to make totally iffy suggestions about motive or intent when she hasn't put a foot wrong in that respect. She has given us no reason whatsoever to assume the worst of her. None. She has repeatedly taken decisions with the best interests of HMFC and the supporters at heart. It must be driving her family mental to see her slaving away and working all the hours under the sun to make this stuff happen for us, only to find people making snide comments online either because they 'need' to win internet arguments or because they're a bit peed off with the football at the moment and need someone to take it out on....or even worse, because she once banned a bunch of wee arseholes for behaving like arseholes. I'm pretty convinced that some people also might just like to have something to be suspicious about because that's the way their mind works. Either way, she's doing a grand job, and by all accounts she's a very decent woman too - she doesn't deserve crap like this. She did something completely incredible for Hearts, and she's still doing something completely incredible now.

 

I can cope with fair and reasonable discussion no problem but the snide and personal stuff drives me bananas. Sometimes social networks and social media can be bloody awful.

[Geoff Kilpatrick]

Just what exactly is this post all about? Are you insinuating that Ann Budge has taken all of this money out of her initial investment or has this been paid by the club /Ann Budge and refunded to her. Also, based on the figures you have highlighted her investment is actually ?2,819.000.

Why are you getting so indignant? It's fact!

[Geoff Kilpatrick]

There is literally no comparison between the two though. None whatsoever. Night and day.

 

It's not scrutiny I have an issue with, it's this bizarre and slightly vicious need to cast aspersions or to make totally iffy suggestions about motive or intent when she hasn't put a foot wrong in that respect. She has given us no reason whatsoever to assume the worst of her. None. She has repeatedly taken decisions with the best interests of HMFC and the supporters at heart. It must be driving her family mental to see her slaving away and working all the hours under the sun to make this stuff happen for us, only to find people making snide comments online either because they 'need' to win internet arguments or because they're a bit peed off with the football at the moment and need someone to take it out on....or even worse, because she once banned a bunch of wee arseholes for behaving like arseholes. I'm pretty convinced that some people also might just like to have something to be suspicious about because that's the way their mind works. Either way, she's doing a grand job, and by all accounts she's a very decent woman too - she doesn't deserve crap like this. She did something completely incredible for Hearts, and she's still doing something completely incredible now.

 

I can cope with fair and reasonable discussion no problem but the snide and personal stuff drives me bananas. Sometimes social networks and social media can be bloody awful.

So why do you bother being an admin then? Serious question.

[Des Lynam]

There is literally no comparison between the two though. None whatsoever. Night and day.

 

It's not scrutiny I have an issue with, it's this bizarre and slightly vicious need to cast aspersions or to make totally iffy suggestions about motive or intent when she hasn't put a foot wrong in that respect. She has given us no reason whatsoever to assume the worst of her. None. She has repeatedly taken decisions with the best interests of HMFC and the supporters at heart. It must be driving her family mental to see her slaving away and working all the hours under the sun to make this stuff happen for us, only to find people making snide comments online either because they 'need' to win internet arguments or because they're a bit peed off with the football at the moment and need someone to take it out on....or even worse, because she once banned a bunch of wee arseholes for behaving like arseholes. I'm pretty convinced that some people also might just like to have something to be suspicious about because that's the way their mind works. Either way, she's doing a grand job, and by all accounts she's a very decent woman too - she doesn't deserve crap like this. She did something completely incredible for Hearts, and she's still doing something completely incredible now.

 

I can cope with fair and reasonable discussion no problem but the snide and personal stuff drives me bananas. Sometimes social networks and social media can be bloody awful.

Well said

[Dusk_Till_Dawn]

There is literally no comparison between the two though. None whatsoever. Night and day.

 

It's not scrutiny I have an issue with, it's this bizarre and slightly vicious need to cast aspersions or to make totally iffy suggestions about motive or intent when she hasn't put a foot wrong in that respect. She has given us no reason whatsoever to assume the worst of her. None. She has repeatedly taken decisions with the best interests of HMFC and the supporters at heart. It must be driving her family mental to see her slaving away and working all the hours under the sun to make this stuff happen for us, only to find people making snide comments online either because they 'need' to win internet arguments or because they're a bit peed off with the football at the moment and need someone to take it out on....or even worse, because she once banned a bunch of wee arseholes for behaving like arseholes. I'm pretty convinced that some people also might just like to have something to be suspicious about because that's the way their mind works. Either way, she's doing a grand job, and by all accounts she's a very decent woman too - she doesn't deserve crap like this. She did something completely incredible for Hearts, and she's still doing something completely incredible now.

 

I can cope with fair and reasonable discussion no problem but the snide and personal stuff drives me bananas. Sometimes social networks and social media can be bloody awful.

 

I find the attacks on Budge very difficult to understand.

 

I find the criticism of Levein and our footballing operations extremely easy to understand.

[Lord Beni of Gorgie]

I might be totally wide of the mark but I am hoping the club pull a rabbit out the hat with the managerial appointment and that we the fans will be pleasantly surprised.

 

I have my doubts though and only pinning my hopes on the fact that this rabbit has not been released to the press as one of the candidates on the short list. JD has done well however AB mentioned next appointment would have experience and I agree with the view that JD is one for the future.

 

Forever the optimist which is a trait you have to have being a hearts supporter onwards and upwards!

Having read the statement again I get the impression change is afoot

[Geoff Kilpatrick]

I find the attacks on Budge very difficult to understand.

 

I find the criticism of Levein and our footballing operations extremely easy to understand.

The only things I criticise Budge for are going OTT on Mixugate and giving Levein too much of a free rein. Otherwise, having her services for free is a Godsend to HMFC.

[colinmaroon]

Finding the right guy is not easy. A huge number of us thought Cathro was the right guy!!

 

I could name you dozens of apparently very good managers/Coaches that clubs and fans thought were the right guy for their club and for one reason or another he wasn't.

 

Look at Man Utd....LVG then Moyes. Both well respected and pretty high up the tree.....they flopped. Should the Man Utd board have gone after these mistakes ? They've had managers and directors who've combined to waste hundreds of millions on players and coaching staff. And whilst I realise we aren't Man Utd....it's all relative. No matter what size of club you are, errors are inevitable.

 

How many years of average managers did it take until Aberdeen got McInnes ? And they only got him because he was sacked from the mighty Bristol City !!

 

We can't just keep sacking the board for not finding the guy to run the team. Especially when so far they've got one right and one wrong.

 

There clearly isn't an outstanding candidate....well certainly not in our salary bracket.

 

There are too many folk on here think running a football club and team is a doddle and mistakes shouldn't happen.

 

If only it was that simple.....

 

 

 

 

 

 

Sent from my iPhone using Tapatalk

 

 

A good dose of realism!

 

The same applies to players.  For example, Jack Hamilton - have you seen some of the bloopers by EPL keepers in the first couple of weeks?

 

Internet forum is a place where the imperfect demand perfection from others while hiding their own imperfections under the smokescreen of their sense of entitlement and the new "fact" - "opinion!"

[graygo]

Rangers CVA failed long before ours was on the table.  If not, why were they in the Championship when we were relegated?

 

I.E. Rangers were a precedent!

 

Of course

 

I knew it too but had convinced myself otherwise.

 

Now sitting in the corner with my dunce's cap on.

[siegementality]

I find the attacks on Budge very difficult to understand.

 

I find the criticism of Levein and our footballing operations extremely easy to understand.

This is where I am. For such a progressive club we are going backwards on the footballing front. Time for fresh ideas, maybe a new DOF is required.

[Cut The Crap]

There is literally no comparison between the two though. None whatsoever. Night and day.

 

It's not scrutiny I have an issue with, it's this bizarre and slightly vicious need to cast aspersions or to make totally iffy suggestions about motive or intent when she hasn't put a foot wrong in that respect. She has given us no reason whatsoever to assume the worst of her. None. She has repeatedly taken decisions with the best interests of HMFC and the supporters at heart. It must be driving her family mental to see her slaving away and working all the hours under the sun to make this stuff happen for us, only to find people making snide comments online either because they 'need' to win internet arguments or because they're a bit peed off with the football at the moment and need someone to take it out on....or even worse, because she once banned a bunch of wee arseholes for behaving like arseholes. I'm pretty convinced that some people also might just like to have something to be suspicious about because that's the way their mind works. Either way, she's doing a grand job, and by all accounts she's a very decent woman too - she doesn't deserve crap like this. She did something completely incredible for Hearts, and she's still doing something completely incredible now.

 

I can cope with fair and reasonable discussion no problem but the snide and personal stuff drives me bananas. Sometimes social networks and social media can be bloody awful.

 

It's called free speech, which you are presumably donating your free time to facilitate.

 

To be honest, I think there is a tendency (especially among those with very high post counts) to overestimate the reach of JKB into the real world. I'd be mildly surprised if Dr Budge is aware of what is said about her on here. Even if she is, she's smart enough to keep them in perspective.

 

She'll (correctly) pay more attention to the views of elected fans' representatives prepared to meet her face to face, and easily discount the anonymous ramblings of keyboard warriors with too much time on their hands.

[siegementality]

It's called free speech, which you are presumably donating your free time to facilitate.

 

To be honest, I think there is a tendency (especially among those with very high post counts) to overestimate the reach of JKB into the real world. I'd be mildly surprised if Dr Budge is aware of what is said about her on here. Even if she is, she's smart enough to keep them in perspective.

 

She'll (correctly) pay more attention to the views of elected fans' representatives prepared to meet her face to face, and easily discount the anonymous ramblings of keyboard warriors with too much time on their hands.

Every club will have a handle of what is being discussed on social media, and in particular a fans forum. It would be madness not to.

[Cut The Crap]

Agreed. They will also know to keep it in its proper perspective.

[Nookie Bear]

A good dose of realism!

 

The same applies to players.  For example, Jack Hamilton - have you seen some of the bloopers by EPL keepers in the first couple of weeks?

 

Internet forum is a place where the imperfect demand perfection from others while hiding their own imperfections under the smokescreen of their sense of entitlement and the new "fact" - "opinion!"

 

Correct. There is literally a handful of keepers who appear to be faultless (De Gea? Neuer? Buffon?) but how often do we see keepers at the very top clubs making a mess of things. Man City have a couple of those and I have seen Joe Hart let in goals that would have this place in uproar had it been Jack.

 

But when people's opinion on football is formed by sensationalist promotion of the foreign leagues then it's easy to see why they get frustrated at our own players when they watch them for 90 minutes, rather than just highlights.

[Des Lynam]

It's called free speech, which you are presumably donating your free time to facilitate.

 

To be honest, I think there is a tendency (especially among those with very high post counts) to overestimate the reach of JKB into the real world. I'd be mildly surprised if Dr Budge is aware of what is said about her on here. Even if she is, she's smart enough to keep them in perspective.

 

She'll (correctly) pay more attention to the views of elected fans' representatives prepared to meet her face to face, and easily discount the anonymous ramblings of keyboard warriors with too much time on their hands.

 

No way Ann reads JKB

[redm]

It's called free speech, which you are presumably donating your free time to facilitate.

 

To be honest, I think there is a tendency (especially among those with very high post counts) to overestimate the reach of JKB into the real world. I'd be mildly surprised if Dr Budge is aware of what is said about her on here. Even if she is, she's smart enough to keep them in perspective.

 

She'll (correctly) pay more attention to the views of elected fans' representatives prepared to meet her face to face, and easily discount the anonymous ramblings of keyboard warriors with too much time on their hands.

 

It's not just free speech though. It's often just a load of vindictive and spiteful nonsense. 

I'm not just referring to JKB either by the way, but I agree with the gist of your last point. Doesn't stop me being irritated by it though.

 

I just think decent people deserve better than that.

[Gambo]

Which goes to show how important it was that a small group of intelligent fans who hated Romanov's ways and saw where we were headed had the foresight to get that ball rolling when they did.

I think the hierarchy at F.o.H. are none too pleased at goings on at the club just now as well.

[Bull's-eye]

I think the hierarchy at F.o.H. are none too pleased at goings on at the club just now as well.

 

You think a bit to much imo. Have a rest day.

[Des Lynam]

I think the hierarchy at F.o.H. are none too pleased at goings on at the club just now as well.

 

Aye are they aye?

[john5698]

Why are you getting so indignant? It's fact!

I am not saying it is not fact, I asked what I thought was a pertinent question, I take it that is allowed, I really don't care if you feel I am being indignant, I asked a question about a post that was made if that is ok by you. 

[john5698]

I think the hierarchy at F.o.H. are none too pleased at goings on at the club just now as well.

Can you enlighten us on those people and what it is they are not too pleased about.

[DH1986]

I think the hierarchy at F.o.H. are none too pleased at goings on at the club just now as well.

I don't think anyone...including FOH, Budge, Levein or the fans are exactly ******-a-hoop.

 

But thats why changes are being made.

 

 

Sent from my iPhone using Tapatalk

[jambali]

I find the attacks on Budge very difficult to understand.

 

I find the criticism of Levein and our footballing operations extremely easy to understand.

Yup

[Section Q]

Just what exactly is this post all about? Are you insinuating that Ann Budge has taken all of this money out of her initial investment or has this been paid by the club /Ann Budge and refunded to her. Also, based on the figures you have highlighted her investment is actually ?2,819.000.

 

So what's your point. She got a good deal and we saved the club...!

My biggest gripe is our present incumbents, Budge included aren't very good at running a football club. Also reflects the state of the game here in Scotland when she gets fast tracked to a seat on the board of our governing body. Roll on the day when we can claim fan ownership.

[Thomaso]

I find the attacks on Budge very difficult to understand.

 

I find the criticism of Levein and our footballing operations extremely easy to understand.

 

 

Totally agree!

[luckydug]

There is literally no comparison between the two though. None whatsoever. Night and day.

 

It's not scrutiny I have an issue with, it's this bizarre and slightly vicious need to cast aspersions or to make totally iffy suggestions about motive or intent when she hasn't put a foot wrong in that respect. She has given us no reason whatsoever to assume the worst of her. None. She has repeatedly taken decisions with the best interests of HMFC and the supporters at heart. It must be driving her family mental to see her slaving away and working all the hours under the sun to make this stuff happen for us, only to find people making snide comments online either because they 'need' to win internet arguments or because they're a bit peed off with the football at the moment and need someone to take it out on....or even worse, because she once banned a bunch of wee arseholes for behaving like arseholes. I'm pretty convinced that some people also might just like to have something to be suspicious about because that's the way their mind works. Either way, she's doing a grand job, and by all accounts she's a very decent woman too - she doesn't deserve crap like this. She did something completely incredible for Hearts, and she's still doing something completely incredible now.

 

I can cope with fair and reasonable discussion no problem but the snide and personal stuff drives me bananas. Sometimes social networks and social media can be bloody awful.

 

Well said.

It is a ****ing disgrace the way some people are behaving towards Mrs Budge.

It is a case of weak minded idiots being led by mean minded nit pickers who have nothing better to do with their time.

Where were these financial geniuses when the club was looking for someone to fund the CVA ?

FF figures are skewed. They may well be in the accounts but the way he presents it is that he is counting arrangement fees and other legal costs as going straight into Mrs Budge's pocket when in fact these are costs that are legitimately chargeable to HMFC.

[john5698]

Well said.

It is a ******* disgrace the way some people are behaving towards Mrs Budge.

It is a case of weak minded idiots being led by mean minded nit pickers who have nothing better to do with their time.

Where were these financial geniuses when the club was looking for someone to fund the CVA ?

FF figures are skewed. They may well be in the accounts but the way he presents it is that he is counting arrangement fees and other legal costs as going straight into Mrs Budge's pocket when in fact these are costs that are legitimately chargeable to HMFC.

Exactly.

[BobbyJenkins]

Well said.

It is a ******* disgrace the way some people are behaving towards Mrs Budge.

It is a case of weak minded idiots being led by mean minded nit pickers who have nothing better to do with their time.

Where were these financial geniuses when the club was looking for someone to fund the CVA ?

FF figures are skewed. They may well be in the accounts but the way he presents it is that he is counting arrangement fees and other legal costs as going straight into Mrs Budge's pocket when in fact these are costs that are legitimately chargeable to HMFC.

 

Hear hear.

[johnthomas]

I don't think anyone is questioning the accuracy of the information, they are merely pointing out the fact that you are ignoring the 'true' cost to Ann Budge of making her ?2.5m investment. The opportunity cost of investing the ?2.5m in the capital markets and carrying out the CEO role free of charge, the sum of these is well in excess of ?1m.

 

In my opinion, you have deliberately omitted these facts to suit your agenda. Feel free to correct me though as you may have a good reason as to why these 'costs' haven't been included.

Excellent response . Doubt very much if you will get any corrections . Reason being the only honest answer would be 'I am a spiteful , twisted individual with a totally illogical agenda'