Francis Albert Posted March 19, 2019 Share Posted March 19, 2019 (edited) Not seen it mentioned but it was emailed yesterday and posted on the website. Much the usual stuff - mainly old news and (I stress well deserved) self congratulation. But there are a few comments added which are blistering attacks on the football side as it is currently performing (also well deserved I think!) Maybe this has happened before but I hadn't noticed it. Is FoH giving a voice to the disaffected in this way a new thing? FoH look out .... (PS I meant JKB look out for FoH intruding on our pitch. But once Craig and Ann read it maybe FoH look out is also appropriate) Edited March 19, 2019 by Francis Albert Quote Link to comment Share on other sites More sharing options...
OTT Posted March 19, 2019 Share Posted March 19, 2019 9 minutes ago, Francis Albert said: Not seen it mentioned but it was emailed yesterday and posted on the website. Much the usual stuff - mainly old news and (I stress well deserved) self congratulation. But there are a few comments added which are blistering attacks on the football side as it is currently performing (also well deserved I think!) Maybe this has happened before but I hadn't noticed it. Is FoH giving a voice to the disaffected in this way a new thing? FoH look out .... (PS I meant JKB look out for FoH intruding on our pitch. But once Craig and Ann read it maybe FoH look out is also appropriate) Hopefully the collective boot up the arse the current management team need. Recent performances haven't been acceptable at all and the club have stayed very silent on that front. Perhaps the FoH voicing concerns will motivate Levein and co to demand more from the players. Regardless, its positive to see that the concern about recent performances is not unique just to JKB. Quote Link to comment Share on other sites More sharing options...
reaths17 Posted March 19, 2019 Share Posted March 19, 2019 the lunatics are taking over the asylumn Quote Link to comment Share on other sites More sharing options...
davemclaren Posted March 19, 2019 Share Posted March 19, 2019 24 minutes ago, Francis Albert said: Not seen it mentioned but it was emailed yesterday and posted on the website. Much the usual stuff - mainly old news and (I stress well deserved) self congratulation. But there are a few comments added which are blistering attacks on the football side as it is currently performing (also well deserved I think!) Maybe this has happened before but I hadn't noticed it. Is FoH giving a voice to the disaffected in this way a new thing? FoH look out .... (PS I meant JKB look out for FoH intruding on our pitch. But once Craig and Ann read it maybe FoH look out is also appropriate) It’s good that they are allowing comments though I imagine some are less than temperate ?. Quote Link to comment Share on other sites More sharing options...
Francis Albert Posted March 19, 2019 Author Share Posted March 19, 2019 15 minutes ago, reaths17 said: the lunatics are taking over the asylumn That's Westminster isn't it? Quote Link to comment Share on other sites More sharing options...
soonbe110 Posted March 19, 2019 Share Posted March 19, 2019 28 minutes ago, Francis Albert said: That's Westminster isn't it? No it’s all behaviour from this forum. Ian Murray reads it here and then runs training/coaching programmes in Westminster. Quote Link to comment Share on other sites More sharing options...
Lord Beni of Gorgie Posted March 19, 2019 Share Posted March 19, 2019 I was at the last plot event. Much more moderate than Kickback of course but some mild discontent. What people should appreciate there are those who will not criticise Hearts at all. Concern is fine but Hearts need the Foundation today tomorrow and for many years to come. To abuse the Foundation I believe would spell trouble. You don't want a cancerous forum on that platform. Leave that for Kickback. I am pissed off but I view my Foundation payment completely differently to attending matches or expressing displeasure. You don't want to handicap future guardian's of the keys Quote Link to comment Share on other sites More sharing options...
Psychedelicropcircle Posted March 19, 2019 Share Posted March 19, 2019 All I see is members putting forward their view. I find myself wondering if we are the team second only to Livingston artillery FC in the boring stakes. Quote Link to comment Share on other sites More sharing options...
Mikey1874 Posted March 19, 2019 Share Posted March 19, 2019 Quote Link to comment Share on other sites More sharing options...
MoncurMacdonaldMercer Posted March 19, 2019 Share Posted March 19, 2019 foh are hibs fans Quote Link to comment Share on other sites More sharing options...
heartandsoul Posted March 19, 2019 Share Posted March 19, 2019 1 hour ago, Sir Gio said: I was at the last plot event. Much more moderate than Kickback of course but some mild discontent. What people should appreciate there are those who will not criticise Hearts at all. Concern is fine but Hearts need the Foundation today tomorrow and for many years to come. To abuse the Foundation I believe would spell trouble. You don't want a cancerous forum on that platform. Leave that for Kickback. I am pissed off but I view my Foundation payment completely differently to attending matches or expressing displeasure. You don't want to handicap future guardian's of the keys Great post Quote Link to comment Share on other sites More sharing options...
Gulpener Posted March 19, 2019 Share Posted March 19, 2019 44 minutes ago, MoncurMacdonaldMercer said: foh are hibs fans All of them or just a few? ? Quote Link to comment Share on other sites More sharing options...
Borders Jambo Posted March 19, 2019 Share Posted March 19, 2019 2 hours ago, Sir Gio said: I was at the last plot event. Much more moderate than Kickback of course but some mild discontent. What people should appreciate there are those who will not criticise Hearts at all. Concern is fine but Hearts need the Foundation today tomorrow and for many years to come. To abuse the Foundation I believe would spell trouble. You don't want a cancerous forum on that platform. Leave that for Kickback. I am pissed off but I view my Foundation payment completely differently to attending matches or expressing displeasure. You don't want to handicap future guardian's of the keys V much this, great post. Quote Link to comment Share on other sites More sharing options...
TurboT Posted March 19, 2019 Share Posted March 19, 2019 3 hours ago, Sir Gio said: I was at the last plot event. Much more moderate than Kickback of course but some mild discontent. What people should appreciate there are those who will not criticise Hearts at all. Concern is fine but Hearts need the Foundation today tomorrow and for many years to come. To abuse the Foundation I believe would spell trouble. You don't want a cancerous forum on that platform. Leave that for Kickback. I am pissed off but I view my Foundation payment completely differently to attending matches or expressing displeasure. You don't want to handicap future guardian's of the keys Cracking post and I agree with your point about your foundation payment. Quote Link to comment Share on other sites More sharing options...
sandylejambo Posted March 19, 2019 Share Posted March 19, 2019 I don't think anybody abused the FOH, they are Jambo's, we are Jambo's, they will have input and Ann will have to listen when they speak, and they must be telling her that the management has lost the support and it's not going to get better. Quote Link to comment Share on other sites More sharing options...
MoncurMacdonaldMercer Posted March 20, 2019 Share Posted March 20, 2019 3 hours ago, Gulpener said: All of them or just a few? ? just the ones who in any way shape or form criticise or even question mrs b's good ship hearts Quote Link to comment Share on other sites More sharing options...
Footballfirst Posted March 20, 2019 Share Posted March 20, 2019 (edited) The first of two EEN articles https://www.edinburghnews.scotsman.com/sport/football/hearts/foh-take-control-of-hearts-in-12-months-time-and-stuart-wallace-outlines-what-will-happen-1-4892122 Quote T-minus 12 months until Heart of Midlothian Football Club is handed over to supporters. Fan ownership becomes reality next spring when chairwoman Ann Budge transfers her 75.1 per cent shareholding to Foundation of Hearts – the fan-led organisation who will then become the club’s guardians on behalf of the paying public. Ann Budge Ann Budge Funds exceeding £8.2million have been injected into Hearts via FoH thanks to fans’ monthly contributions, which began in 2013. That figure will reach £9.55m by the time Budge relinquishes control next year. It remains a staggering story and one of the enduring positives within Scottish football. The Foundation are also repaying £2.5m of Budge’s money used to get the Edinburgh club out of administration in 2014. That loan from her BIDCO 1874 Limited company matures 12 months from now, triggering the handover thousands of supporters have waited for since Hearts’ financial collapse six years ago. In an exclusive two-part interview with the Evening News, Foundation of Hearts chairman Stuart Wallace explained how the transfer of ownership will work and the technicalities of it. It has always been stressed that Hearts will be fan-owned but not fan-run. That means there is little prospect of random supporters jumping from Section N to the boardroom to make key decisions. The main point of it all is to ensure the public retain authority of the club they support. In short, never again will a dubious owner take charge at Tynecastle Park unless supporters give their blessing. “We are repaying the BIDCO 1874 loan at the moment,” said Wallace. “Approximately one year from now, we expect that loan will be extinguished. Then we can execute the deal to transfer the majority shareholding to Foundation of Hearts. ” Transferring ownership during the football season, particularly at a time when Hearts could be challenging for Europe and/or a cup final, might not be the most sensible move. FoH and Budge are already fully aware that they must get the timing of their exchange correct. “The debate we are having is when exactly to do it,” continued Wallace. “Do we do it in May next year to ensure it’s outside the football season and therefore not a distraction? There will be an official handover and a celebration so we’re just deciding when exactly it will happen. It is a big moment off the pitch, if not a particularly big moment on the pitch.” In fact, it is a seismic moment for all concerned. And not only the suits upstairs. Hearts captain Christophe Berra and striker Steven Naismith are two of a number of first-team players who pledge money to the Foundation each month. Club ambassador Gary Locke is a pledger, as are Budge and her boardroom executives. They and around 8,000 other subscribers have donated £3m which helped to build Tynecastle’s new main stand, with other monies contributing to day-to-day operating costs. It all puts Hearts on a sound financial footing for the future. Wallace and fellow FoH director Donald Cumming sit on the club board alongside Budge and director of football/manager Craig Levein to ensure a crossover between all parties when it comes to budgets, signings, infrastructure and everything else. The legal process to give Hearts to the fans in 2020 should therefore be very straightforward. Paperwork will be signed off and passed over as Budge sticks to her promise to give 75.1 per cent control to fans. That is intended to be the only real change. The board, as it stands, will not be replaced as FoH want a seamless transition and continuity thereafter. “That’s certainly the intention. We’re going into this with the view that it will be continue to be business as usual,” said Wallace. “There is a legal change of ownership to Foundation of Hearts on behalf of the supporters. “We would love Ann to stay on for as long as she wants to. We certainly all want that period of stability after the handover where everything remains business as usual. There will be a legal exchange of 75.1 per cent of the shares into the hands of the Foundation. Otherwise, things will stay very much as they are. ” FoH’s reputation for financial prudence appeals in an era of wanton waste in football. Small print in the agreement between BIDCO 1874 and the Foundation states that FoH can spend £50,000 a year on their own running costs. Except Wallace and his colleagues are reluctant to spend a penny in reality. It also states a minimum of 95 per cent of the funds FoH collect must be deposited in Hearts’ bank account. There is very little left over. If it’s a hard-earned £10 pledge, the Foundation board believe they should be equally strict in how they use that pledge. “We can’t ring-fence the money we hand over, nor should we,” explained Wallace. “We just want to do things which are going to engage the supporters. In our Foundation board meetings, we are debating what we should do that delivers the best return on the investment for the club and the supporters. That will continue into the future because there is an inevitability that this will carry on.” Most Hearts fans wouldn’t have it any other way. Edited March 20, 2019 by Footballfirst Quote Link to comment Share on other sites More sharing options...
Footballfirst Posted March 20, 2019 Share Posted March 20, 2019 (edited) A second article today about "wills" - It's not mentioned but a legacy of £108k made in June 2015 helped build the memorial garden. https://www.edinburghnews.scotsman.com/sport/football/hearts/hearts-supporters-ask-to-include-foundation-of-hearts-in-their-wills-1-4892268 Quote Hearts supporters have contacted Foundation of Hearts asking to leave part of their estate to the fan organisation when they die. The revelation comes in an exclusive Evening News interview with FoH chairman Stuart Wallace, who admitted being taken aback by the requests. Around 8000 fans contribute monthly cash to the Foundation, which provides £1.4m in funding to Hearts every year. They will assume control of the Edinburgh club next year when current owner Ann Budge transfers her 75.1 per cent shareholding to FoH. However, some fans are now taking their commitment to the next level. Wallace revealed how people have been in touch wanting to leave a portion of their legacy to the Foundation on top of monthly donations. “A lot of people say they are in and in for good,” said Wallace. “One guy said to me: ‘My pledge will be around for as long as I’m around.’ I thought that was a brilliant way to put it. That’s why we use the phrase ‘Pledge For Life’. “We now have people asking how they can leave a legacy. They want our incorporated number as a company so they can write it into their will. When you hear that sort of thing, you think: ‘Blimey.’ ” Wallace explained that, as a result, FoH feel an even greater responsibility to ensure money is used wisely going forward. “We feel it’s incumbent on us to work hard over the next year with the club. How will the accounting arrangements work? What do we need to do make sure the admin is all right? But more than that, what will we do with the fans’ money? There is now an inevitability that this will carry on,” he said. “We haven’t decided on it yet but it’s a fantastic problem to have. There will always be infrastructure projects the club might want to take on. Do we continue to improve Tynecastle? Are there other facilities we can build around the stadium? Should we talk about youth development? What do the fans want? “All of these things are being discussed in the background and it’s a great position for the club to be in.” Edited March 20, 2019 by Footballfirst Quote Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted March 20, 2019 Share Posted March 20, 2019 I'll happily leave FoH my debts! Quote Link to comment Share on other sites More sharing options...
Francis Albert Posted March 20, 2019 Author Share Posted March 20, 2019 (edited) "FoH feel even greater responsibility to ensure money is used wisely" Seems a slight shift in FoH's line on what is to be done with the money. Up until now they have seemed pretty hands off and have taken the line that they shouldn't restrict the club's management of that (and everything else). In fact the other EEN article repeats the "hands off" line. I am not sure why using money wisely when the donor is dead is more important than when he or she is alive. But I've never understood the fury roused by "death taxes" as inheritance taxes are called by the Mail. Edited March 20, 2019 by Francis Albert Quote Link to comment Share on other sites More sharing options...
wavydavy Posted March 20, 2019 Share Posted March 20, 2019 15 hours ago, Francis Albert said: That's Westminster isn't it? Quote Link to comment Share on other sites More sharing options...
Mikey1874 Posted March 20, 2019 Share Posted March 20, 2019 It's encouraging they are thinking about how to spend the funds and projects on things like infrastructure and youth development. And that they want to listen to fans. That was a key issue in feedback as against the apparent preferences to put FoH funds as simply general income. Quote Link to comment Share on other sites More sharing options...
Francis Albert Posted March 20, 2019 Author Share Posted March 20, 2019 (edited) 8 hours ago, Footballfirst said: The first of two EEN articles https://www.edinburghnews.scotsman.com/sport/football/hearts/foh-take-control-of-hearts-in-12-months-time-and-stuart-wallace-outlines-what-will-happen-1-4892122 I'd have thought a real journalist might have noted that the £50k a year restriction on FoH's own spending (introduced I suspect by Ann in the FoH/Bidco deal) was not included in the new governance arrangements (and indeed no limit specified) so the restriction on FoH spending will fall away when FoH gain majority control. It would have been interesting to hear Stuart explain why, There also seems to be some inconsistency between Stuart ruling out any ring fencing of funds provided to the club and his keen-ness to see money spent on the right things. Again a little questioning would have produced something more interesting than what amounts to a PR puff piece for FoH. But that's Scottish sports journalism I suppose.. Edited March 20, 2019 by Francis Albert Quote Link to comment Share on other sites More sharing options...
Lfhearts Posted March 20, 2019 Share Posted March 20, 2019 It's the first team that needs spending on NOT youth development, infrastructure. Ffs Quote Link to comment Share on other sites More sharing options...
been here before Posted March 20, 2019 Share Posted March 20, 2019 23 minutes ago, Lfhearts said: It's the first team that needs spending on NOT youth development, infrastructure. Ffs In time the latter can benefit the former and further on the club as a whole. Quote Link to comment Share on other sites More sharing options...
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