Djm1874 Posted December 10, 2017 Share Posted December 10, 2017 I’ve noticed when buying my half time pie that the girls behind the kiosks are wearing Tynecastle events t-shits. Does this mean that the club are not directly running or making money from the food and drink sales? Tynecastle events ltd seem to be a dormant company with budge,Hogg and levein all listed as directors. Would be disappointed if a separate or sister company was making money out of hearts unless any profits etc are paid back to the club. I could be way off the mark and if someone can correct me or has more knowledge if I’m right or wrong please do tell ? Thanks HHGH Link to comment Share on other sites More sharing options...
OTT Posted December 10, 2017 Share Posted December 10, 2017 Might just be an easier way of separating the costs? Link to comment Share on other sites More sharing options...
Djm1874 Posted December 10, 2017 Author Share Posted December 10, 2017 If it’s to separate costs then surely that means you want to do the same to the profits!? Link to comment Share on other sites More sharing options...
OTT Posted December 10, 2017 Share Posted December 10, 2017 2 minutes ago, Djm1874 said: If it’s to separate costs then surely that means you want to do the same to the profits!? Was a guess, had hoped someone would've corrected me by now Link to comment Share on other sites More sharing options...
sadj Posted December 10, 2017 Share Posted December 10, 2017 Lots of companies have parent companies and work under that umbrella but as a differently registered company. Prob just to seperate out that side of the business , could be that we develop Tynecastle Events as a brand though. Events at Tynie , hospitality things etc. Make it financially stand on its own two feet and utilise that to fund improvements to the ground , facilities etc as we move forward so it doesn’t impact on club finances. Ie a percentage every year is paid to the club for Tynecastle Events operating on the premises. I don’t know much about Catering etc but could also be for Vat and Tax purposes to allow maximum revenue. Link to comment Share on other sites More sharing options...
Nixie Posted December 11, 2017 Share Posted December 11, 2017 Standard practice to run as its own profit and loss. Removes liability but also gives the ability to set separate financial targets, create its own structure and grow as a separate part off the business. Link to comment Share on other sites More sharing options...
SUTOL Posted December 11, 2017 Share Posted December 11, 2017 9 hours ago, Djm1874 said: I’ve noticed when buying my half time pie that the girls behind the kiosks are wearing Tynecastle events t-shits. Does this mean that the club are not directly running or making money from the food and drink sales? Tynecastle events ltd seem to be a dormant company with budge,Hogg and levein all listed as directors. Would be disappointed if a separate or sister company was making money out of hearts unless any profits etc are paid back to the club. I could be way off the mark and if someone can correct me or has more knowledge if I’m right or wrong please do tell ? Thanks HHGH During your research did you check who the shareholder* is? Shareholder, singular. One share. Link to comment Share on other sites More sharing options...
Jamboelite Posted December 11, 2017 Share Posted December 11, 2017 47 minutes ago, Nixie said: Standard practice to run as its own profit and loss. Removes liability but also gives the ability to set separate financial targets, create its own structure and grow as a separate part off the business. Correct. There is no sinister reason. Link to comment Share on other sites More sharing options...
Beast Boy Posted December 11, 2017 Share Posted December 11, 2017 Link to comment Share on other sites More sharing options...
sandy37 Posted December 11, 2017 Share Posted December 11, 2017 5 hours ago, Ryder said: Surely the questions that should be asked are Why is the DOF a director of Tynecastle Events Ltd increasing any problems in getting rid of him, should he fail in his current role as Manager. It seems that the general opinion is if he fails then he could not return to his old role as Director of Football What role may he have after FOH take over control in approximately 3 years time I know that Craig is a Director of Hearts but many companies have subsidiary companies for the separation of costs and profit. However they do not have the same directors as the Parent company Link to comment Share on other sites More sharing options...
zoltan socrates Posted December 11, 2017 Share Posted December 11, 2017 16 minutes ago, sandy37 said: Surely the questions that should be asked are Why is the DOF a director of Tynecastle Events Ltd increasing any problems in getting rid of him, should he fail in his current role as Manager. It seems that the general opinion is if he fails then he could not return to his old role as Director of Football What role may he have after FOH take over control in approximately 3 years time I know that Craig is a Director of Hearts but many companies have subsidiary companies for the separation of costs and profit. However they do not have the same directors as the Parent company Ive generally found 5he opposite to be true in that directors will cover a multitude of roles/posts, this situation is far from uncommon Link to comment Share on other sites More sharing options...
Beast Boy Posted December 11, 2017 Share Posted December 11, 2017 21 minutes ago, sandy37 said: Surely the questions that should be asked are Why is the DOF a director of Tynecastle Events Ltd increasing any problems in getting rid of him, should he fail in his current role as Manager. It seems that the general opinion is if he fails then he could not return to his old role as Director of Football What role may he have after FOH take over control in approximately 3 years time I know that Craig is a Director of Hearts but many companies have subsidiary companies for the separation of costs and profit. However they do not have the same directors as the Parent company Tbh that whole post just comes across as not really caring if he’s doing a good job in his many roles at the club, because you just don’t like him and want rid of him. Link to comment Share on other sites More sharing options...
Locky Posted December 11, 2017 Share Posted December 11, 2017 I know sod all about business but as far as I know, most football clubs like us (plc’s) divide operations into smaller scale departments. Generally easier to manage and evaluate costs and intakes. Link to comment Share on other sites More sharing options...
Djm1874 Posted December 11, 2017 Author Share Posted December 11, 2017 Thanks for the explanations guys I’m more relaxed about it now if it’s normal practice thanks Link to comment Share on other sites More sharing options...
Rocky jamboa Posted December 11, 2017 Share Posted December 11, 2017 Tynecastle events I believe do the catering at hospitality, gorgie live etc. I think it must be the side of the business who deals with the catering side of things at the club. They also do the hospitality stuff at Edinburgh rugby at meggetland. Link to comment Share on other sites More sharing options...
davemclaren Posted December 11, 2017 Share Posted December 11, 2017 If it’s a dormant company then it isn’t actually trading so is doing absolutely nothing. Link to comment Share on other sites More sharing options...
Lord Beni of Gorgie Posted December 11, 2017 Share Posted December 11, 2017 Does it mean we could do weddings bar mitzvahs and inferior Edinburgh football teams catering too? Link to comment Share on other sites More sharing options...
Dunks Posted December 11, 2017 Share Posted December 11, 2017 1 hour ago, Sir Gio said: Does it mean we could do weddings bar mitzvahs and inferior Edinburgh football teams catering too? Link to comment Share on other sites More sharing options...
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