Annual report and financials

[Footballfirst]

45 minutes ago, Cruyff Turn said:

Any links to the balance sheets for the last three years? 

 

https://beta.companieshouse.gov.uk/company/SC005863/filing-history

[Cruyff Turn]

3 minutes ago, Footballfirst said:

 

https://beta.companieshouse.gov.uk/company/SC005863/filing-history

Thank you. 👍🏼

[Dusk_Till_Dawn]

1 hour ago, Phil Dunphy said:

 

As if anyone did previously.

Well yeah, true enough 

[Beast Boy]

1 hour ago, Nookie Bear said:

Why would they be? Who is proposing they be chased out?

 

Leave the Hearts fan hating vibe to the likes of Jammy T and Mothy, yeah?

 

 

[Guest ToqueJambo]

6 hours ago, annushorribilis III said:

I can tell you categorically I know several people who stopped their FOH subs quite a while ago over this very point. No one expected it to force any kind of change, in fact they stopped paying simply because of apathy at the poor football and lack of progress - some have stopped attending completely - but they're not ST holders so it won't have any great impact.

 There is also some unhappiness with the massive overspend on the stand/"stadium redevelopment" which some guys I know thought was utter madness. In fact there was some surprise that the people who committed the club to this massive overspend weren't held accountable for it.

 

 

Do you think they'd have stopped pledging if we were in a precarious situation again? Doubt it. I assume they originally joined FoH to save the club. They now feel they can stop because we are in such a strong position. They don't think stopping will harm the club that much basically, which was my point. It's a sign of the strength of the club and its initial objectives have pretty much been achieved or will be soon.

 

That's always been the challenge for FoH - the more stable we are the harder it will be to attract new pledgers and retain older ones. Unless there is a clear plan for how money will be spent and results that demonstrate the money is being well spent. 

[Beast Boy]

An extra £1m p/a is an enormous amount of money in Scottish football. 

[Sid]

I look at the overall situation a bit more simplistically. 

we were buggered. 
 

ONLY Ann stumped up the cash up front to keep us alive. She has owned the club between then and next May(ish). 
 

What is of interest to me is what she hands over next year. 

 

It looks very much like we will get a Dramatically  better Stadium. A great pitch. World class Training facilities and Academy in good shape. Revenues at a level which should be able to fund the third highest squad in Scotland.  Hopefully, new manager and team climbing up the table but any new manager is a risk. 
 

I’m not really that fussed about who got the contracts to build stuff or run the bar. Escalating costs were managed so that we didn’t end up with a pile of extra debt. 
 

I don’t think anyone can argue that what we are getting is way beyond our expectations. 
 

nothing but admiration for what she has done for us.  Not tarnished by her giving Levein too long to turn the footballing side around. 

[Beast Boy]

13 minutes ago, Sid said:

I look at the overall situation a bit more simplistically. 

we were buggered. 
 

ONLY Ann stumped up the cash up front to keep us alive. She has owned the club between then and next May(ish). 
 

What is of interest to me is what she hands over next year. 

 

It looks very much like we will get a Dramatically  better Stadium. A great pitch. World class Training facilities and Academy in good shape. Revenues at a level which should be able to fund the third highest squad in Scotland.  Hopefully, new manager and team climbing up the table but any new manager is a risk. 
 

I’m not really that fussed about who got the contracts to build stuff or run the bar. Escalating costs were managed so that we didn’t end up with a pile of extra debt. 
 

I don’t think anyone can argue that what we are getting is way beyond our expectations. 
 

nothing but admiration for what she has done for us.  Not tarnished by her giving Levein too long to turn the footballing side around. 

This is pretty much exactly how I feel too. Good post.

[Guest ToqueJambo]

8 minutes ago, Sid said:

I look at the overall situation a bit more simplistically. 

we were buggered. 
 

ONLY Ann stumped up the cash up front to keep us alive. She has owned the club between then and next May(ish). 
 

What is of interest to me is what she hands over next year. 

 

It looks very much like we will get a Dramatically  better Stadium. A great pitch. World class Training facilities and Academy in good shape. Revenues at a level which should be able to fund the third highest squad in Scotland.  Hopefully, new manager and team climbing up the table but any new manager is a risk. 
 

I’m not really that fussed about who got the contracts to build stuff or run the bar. Escalating costs were managed so that we didn’t end up with a pile of extra debt. 
 

I don’t think anyone can argue that what we are getting is way beyond our expectations. 
 

nothing but admiration for what she has done for us.  Not tarnished by her giving Levein too long to turn the footballing side around. 

 

Good post especially the bits in bold. Being profitable and well run as we are now doesn't make us immune to bad manager appointments and a few meh years now and then, which we also had under Mercer, Robinson and Romanov and every previous owner as well. And which every other club on the planet has too. I genuinely worry about some of our supporters if they can't cope with a few crappy seasons now and then. Whatever our bad spell is now it's still nowhere near as bad as the bad spells Hibs and Aberdeen have had in the past until they turned things around (well, Aberdeen did at least), which we will too and it'll be another club's turn to be going through a bad spell.

[i8hibsh]

Off the pitch she has done a very good job.

 

On the pitch she has done a diabolical job

[Guest ToqueJambo]

14 minutes ago, i8hibsh said:

Off the pitch she has done a very good job.

 

On the pitch she has done a diabolical job

 

Have never forgiven her for missing that sitter against Killie.

[i8hibsh]

Just now, ToqueJambo said:

 

Have never forgiven her for missing that sitter against Killie.

 

 

A granny could've scored it.

[Weakened Offender]

7 hours ago, Famous 1874 said:

You talking about Budge’s Hibee brother being involved in the new stand? Or her Hibee nephew who runs the fans bar 

 

FFS 🤡

[Coburg Hearts]

1 hour ago, Icon of Symmetry said:

An extra £1m p/a is an enormous amount of money in Scottish football. 

Could get you 4 players at £5,000 pw

[Coburg Hearts]

53 minutes ago, Sid said:

I look at the overall situation a bit more simplistically. 

we were buggered. 
 

ONLY Ann stumped up the cash up front to keep us alive. She has owned the club between then and next May(ish). 
 

What is of interest to me is what she hands over next year. 

 

It looks very much like we will get a Dramatically  better Stadium. A great pitch. World class Training facilities and Academy in good shape. Revenues at a level which should be able to fund the third highest squad in Scotland.  Hopefully, new manager and team climbing up the table but any new manager is a risk. 
 

I’m not really that fussed about who got the contracts to build stuff or run the bar. Escalating costs were managed so that we didn’t end up with a pile of extra debt. 
 

I don’t think anyone can argue that what we are getting is way beyond our expectations. 
 

nothing but admiration for what she has done for us.  Not tarnished by her giving Levein too long to turn the footballing side around. 

Excellent post. That's much how I think about it.

[Sydney]

1 hour ago, Sid said:

I look at the overall situation a bit more simplistically. 

we were buggered. 
 

ONLY Ann stumped up the cash up front to keep us alive. She has owned the club between then and next May(ish). 
 

What is of interest to me is what she hands over next year. 

 

It looks very much like we will get a Dramatically  better Stadium. A great pitch. World class Training facilities and Academy in good shape. Revenues at a level which should be able to fund the third highest squad in Scotland.  Hopefully, new manager and team climbing up the table but any new manager is a risk. 
 

I’m not really that fussed about who got the contracts to build stuff or run the bar. Escalating costs were managed so that we didn’t end up with a pile of extra debt. 
 

I don’t think anyone can argue that what we are getting is way beyond our expectations. 
 

nothing but admiration for what she has done for us.  Not tarnished by her giving Levein too long to turn the footballing side around. 

Agree with this.  Our performances on the pitch have been pretty woeful, but Ms Budge has done a terrific turnaround job with the club. 

[annushorribilis III]

3 hours ago, ToqueJambo said:

 

Do you think they'd have stopped pledging if we were in a precarious situation again? Doubt it. I assume they originally joined FoH to save the club. They now feel they can stop because we are in such a strong position. They don't think stopping will harm the club that much basically, which was my point. It's a sign of the strength of the club and its initial objectives have pretty much been achieved or will be soon.

 

That's always been the challenge for FoH - the more stable we are the harder it will be to attract new pledgers and retain older ones. Unless there is a clear plan for how money will be spent and results that demonstrate the money is being well spent. 

 

You should stop making assumptions about  people you know nothing about. 

 

They now feel they can stop because we are in such a strong position.: the people I am talking about are not interested in the strength (or not) of the current regime. 

 

That's always been the challenge for FoH - the more stable we are the harder it will be to attract new pledgers ; pledgers are down 8%. How "stable" are "we".  

 

Unless there is a clear plan for how money will be spent and results that demonstrate the money is being well spent.  The collective view is the money has not been well spent : not on the team & certainly not on the "stand". 

 

For all your verbal gyrations , I just want to make  a simple point : you pontificate as though you know the thoughts of the Hearts fans as a collective . You don't. 

 

 

[Guest ToqueJambo]

5 minutes ago, annushorribilis III said:

 

You should stop making assumptions about  people you know nothing about. 

 

They now feel they can stop because we are in such a strong position.: the people I am talking about are not interested in the strength (or not) of the current regime. 

 

That's always been the challenge for FoH - the more stable we are the harder it will be to attract new pledgers ; pledgers are down 8%. How "stable" are "we".  

 

Unless there is a clear plan for how money will be spent and results that demonstrate the money is being well spent.  The collective view is the money has not been well spent : not on the team & certainly not on the "stand". 

 

For all your verbal gyrations , I just want to make  a simple point : you pontificate as though you know the thoughts of the Hearts fans as a collective . You don't. 

 

 

 

I'm asking you as you know them. Why would they not be interested in how strong we are as a club? Bit weird. If they don't like Budge fair enough. What did they think of Mercer, Robinson and Romanov?

 

As I said, perhaps they are not aware of what FoH is for and where the money is going, because it's certainly not intended for the team or hasn't been to date.

 

As for the stand, FoH members were asked if it was OK to use FoH funds for the stand - it is a real stand by the way not a "stand" - and 99% voted yes. How did your pals vote?

[annushorribilis III]

8 minutes ago, ToqueJambo said:

 

I'm asking you as you know them. Why would they not be interested in how strong we are as a club? Bit weird. If they don't like Budge fair enough. What did they think of Mercer, Robinson and Romanov?

 

As I said, perhaps they are not aware of what FoH is for and where the money is going, because it's certainly not intended for the team or hasn't been to date.

 

As for the stand, FoH members were asked if it was OK to use FoH funds for the stand - it is a real stand by the way not a "stand" - and 99% voted yes. How did your pals vote?

You're another one on here who makes broad sweeping statements about a Hearts fan base you don't know. 

I replied to a specific assertion you made about fans in general. 

I and my group know very well what FOH stands for, thank you. We're all very aware it doesn't go into "the team". But you chose to miss the point about general disaffection amongst a lot of fans and argue on a narrow point. 

 

How did your pals vote?  They wanted change. 

[Guest ToqueJambo]

10 minutes ago, annushorribilis III said:

You're another one on here who makes broad sweeping statements about a Hearts fan base you don't know. 

I replied to a specific assertion you made about fans in general. 

I and my group know very well what FOH stands for, thank you. We're all very aware it doesn't go into "the team". But you chose to miss the point about general disaffection amongst a lot of fans and argue on a narrow point. 

 

How did your pals vote?  They wanted change. 

 

What do you mean they voted for change? There was a specific "for-against" vote for the stand money to be released, that's all. 

 

To your point on "general disaffection" - who's speaking for everyone now? - are pledgers down 8% (so about 800) as you said or is pledging down 8%?

 

If it's 8% of pledgers, so about 800, let's say half stopped for financial reasons and half for football reasons that's a pretty small number in the grand scheme of things considering we've been on "our worst run of form in history". There are what about 8000 pledgers so it's not hard to assume a proportion of them will undergo life changes and whatnot that mean they do things like stop donations to things, reduce their TV cable package and whatnot. 400 people being pissed off enough to stop isn't a lot but isn't ideal either. I'm only guessing the number who stop contributions because of the manager or whatever is small. FoH was always about something much bigger.

 

If it's 8% of the monthly or annual amount being pledged, again that could be people reducing it due to financial reasons. Economic growth and outlook in the UK is also not exactly great. Things like FoH subs will always be one of the first things to go if purse-strings need to be tightened.

 

Anyhow, everyone has their own reasons for doing things, but the vast majority have continued contributing during our "worst run in history", which is encouraging. It doesn't suggest a "general disaffection" with the way FoH money is being used at all. Everyone's obviously pissed off about the team on the park though obviously.

Edited November 18, 2019 by ToqueJambo

[Coburg Hearts]

16 minutes ago, ToqueJambo said:

 

What do you mean they voted for change? There was a specific "for-against" vote for the stand money to be released, that's all. 

 

To your point on "general disaffection" - who's speaking for everyone now? - are pledgers down 8% (so about 800) as you said or is pledging down 8%?

 

If it's 8% of pledgers, so about 800, let's say half stopped for financial reasons and half for football reasons that's a pretty small number in the grand scheme of things considering we've been on "our worst run of form in history". There are what about 8000 pledgers so it's not hard to assume a proportion of them will undergo life changes and whatnot that mean they do things like stop donations to things, reduce their TV cable package and whatnot. 400 people being pissed off enough to stop isn't a lot but isn't ideal either. I'm only guessing the number who stop contributions because of the manager or whatever is small. FoH was always about something much bigger.

 

If it's 8% of the monthly or annual amount being pledged, again that could be people reducing it due to financial reasons. Economic growth and outlook in the UK is also not exactly great. Things like FoH subs will always be one of the first things to go if purse-strings need to be tightened.

 

Anyhow, everyone has their own reasons for doing things, but the vast majority have continued contributing during our "worst run in history", which is encouraging. It doesn't suggest a "general disaffection" with the way FoH money is being used at all. Everyone's obviously pissed off about the team on the park though obviously.

Good post.

[Tom Hardy’s Dug]

15 hours ago, Nookie Bear said:

Why would they be? Who is proposing they be chased out?

 

Leave the Hearts fan hating vibe to the likes of Jammy T and Mothy, yeah?

if the benefactors are only around because of Budge and the fans hound Budge out

 

not fan hating just common sense IMO - I wouldn’t approach things the way JammyT does but he (or she) has a point re the negative impact fans can have on the club.

 

stopping FOH subs and forcing Budge out are 2 examples

Edited November 18, 2019 by Tom Hardy’s Dug

[Marooned Abroad]

FFS, I haven’t read all the posts here so forgive mr if I’ve missed something, but is anyone seriously suggesting Ann Budge should go? I hope not.

We were dead and almost buried as a Club when 8000 plus of us put our hands in our pockets, and based on that goodwill, she stepped in, put in the capital up front and since then has stuck her head above the parapet and rebuilt the business with no debt and an expanding turnover.

She has been open all along on what the Club is trying to achieve and has admitted her own failings recently on the football side, but FFS, we couldn’t have had a better person at the tiller running out Club and bringing it to the point where with a change of football management, we could be looking forward to a bright future.. (I await the sarky ‘thank you Mrs Budge’ comments from some on here!)

[Beast Boy]

11 minutes ago, Marooned Abroad said:

FFS, I haven’t read all the posts here so forgive mr if I’ve missed something, but is anyone seriously suggesting Ann Budge should go? I hope not.

We were dead and almost buried as a Club when 8000 plus of us put our hands in our pockets, and based on that goodwill, she stepped in, put in the capital up front and since then has stuck her head above the parapet and rebuilt the business with no debt and an expanding turnover.

She has been open all along on what the Club is trying to achieve and has admitted her own failings recently on the football side, but FFS, we couldn’t have had a better person at the tiller running out Club and bringing it to the point where with a change of football management, we could be looking forward to a bright future.. (I await the sarky ‘thank you Mrs Budge’ comments from some on here!)

 

It started with the guys who were getting bans for unacceptable behaviour. They had a wee campaign about her wanting to turn Tynecastle in to a library. Then as Levein started to struggle, a few supporters who you would expect to be a bit more intelligent and sensible at their ages started to join them. Toss in a few misogynists and a few arseholes who just like to moan and ccriticise, and that's where we are at today.

[Jammy T]

1 hour ago, Marooned Abroad said:

FFS, I haven’t read all the posts here so forgive mr if I’ve missed something, but is anyone seriously suggesting Ann Budge should go? I hope not.

We were dead and almost buried as a Club when 8000 plus of us put our hands in our pockets, and based on that goodwill, she stepped in, put in the capital up front and since then has stuck her head above the parapet and rebuilt the business with no debt and an expanding turnover.

She has been open all along on what the Club is trying to achieve and has admitted her own failings recently on the football side, but FFS, we couldn’t have had a better person at the tiller running out Club and bringing it to the point where with a change of football management, we could be looking forward to a bright future.. (I await the sarky ‘thank you Mrs Budge’ comments from some on here!)

Where the **** you been dude?

 

Yes - a noisy minority of fans want the person without whom our club would have died out of the club.

 

Yet they probably still toss off to their Romanov poster at least once a week....

 

And I get abuse from some of those no-marks....

Edited November 18, 2019 by Jammy T

[JamboAl]

11 hours ago, annushorribilis III said:

 

You should stop making assumptions about  people you know nothing about. 

 

They now feel they can stop because we are in such a strong position.: the people I am talking about are not interested in the strength (or not) of the current regime. 

 

That's always been the challenge for FoH - the more stable we are the harder it will be to attract new pledgers ; pledgers are down 8%. How "stable" are "we".  

 

Unless there is a clear plan for how money will be spent and results that demonstrate the money is being well spent.  The collective view is the money has not been well spent : not on the team & certainly not on the "stand". 

 

For all your verbal gyrations , I just want to make  a simple point : you pontificate as though you know the thoughts of the Hearts fans as a collective . You don't. 

 

 

You start off by criticising someone for making assumptions and yet you make a beauty of an assumption in the last sentence of your penultimate paragraph..  How exactly do you know what the collective view is?

[Beast Boy]

11 hours ago, Coburg Hearts said:

Could get you 4 players at £5,000 pw

 

It's insane that people are blasé about £1m+ at our level. Honestly can't get my head around the disregard people have for us optimising our turnover and income as if it doesn't make any difference. Once we get the management situation sorted out, the extra clout from the infrastructure and FoH will give us a proper sporting advantage.

[Francis Albert]

36 minutes ago, Icon of Symmetry said:

 

It's insane that people are blasé about £1m+ at our level. Honestly can't get my head around the disregard people have for us optimising our turnover and income as if it doesn't make any difference. Once we get the management situation sorted out, the extra clout from the infrastructure and FoH will give us a proper sporting advantage.

Of course £1m a year could make a difference but I was responding to someone who posted that it would increase our chances of winning things. Having a higher player budget than most of the other Premiership teams hasn't done us much good in terms of winning things or qualifying for Europe because we have blown a large chunk of that budget and maintained failed head coaches/managers long past their sell by date.

The new appointments will give us a clue as to the chances of that changing.

 

And imagine what a small fraction of our £24m and rising cost of "stadium redevelopment" could have done by way of "sporting advantage". 

[Vlad Magic]

2 minutes ago, Francis Albert said:

Of course £1m a year could make a difference but I was responding to someone who posted that it would increase our chances of winning things. Having a higher player budget than most of the other Premiership teams hasn't done us much good in terms of winning things or qualifying for Europe because we have blown a large chunk of that budget and maintained failed head coaches/managers long past their sell by date.

The new appointments will give us a clue as to the chances of that changing.

 

And imagine what a small fraction of our £24m and rising cost of "stadium redevelopment" could have done by way of "sporting advantage". 

 

I have recently completed renovating my house. A sizeable but necessary expenditure including a very sizeable lump on new double glazed windows.

 

I could have travelled the world for a year staying in some incredible hotels for the money invested in my house.

[johnking123]

I'm just looking forward to the stadium being finished and £3.25 million getting pumped into the playing team..

[Beast Boy]

4 minutes ago, Francis Albert said:

Of course £1m a year could make a difference but I was responding to someone who posted that it would increase our chances of winning things. Having a higher player budget than most of the other Premiership teams hasn't done us much good in terms of winning things or qualifying for Europe because we have blown a large chunk of that budget and maintained failed head coaches/managers long past their sell by date.

The new appointments will give us a clue as to the chances of that changing.

 

And imagine what a small fraction of our £24m and rising cost of "stadium redevelopment" could have done by way of "sporting advantage". 

 

See, that's what I mean though. The £24m you quote is an investment and money will come in from that investment.

 

The £1m+ p/a from FoH could even be built up to pay for future infrastructure projects, freeing the same amount to be spent on the team instead.

[OTT]

18 minutes ago, Icon of Symmetry said:

 

See, that's what I mean though. The £24m you quote is an investment and money will come in from that investment.

 

The £1m+ p/a from FoH could even be built up to pay for future infrastructure projects, freeing the same amount to be spent on the team instead.

 

Its what I'm hoping to see tbh. 

 

Given Doncaster's inability to negotiate a good deal we're never going to see a radical improvement in prize money meaning the only possibility I can see of us improving our turnover (and hopefully profits) is by infrastructure projects which could offer alternative revenue streams. 

 

Something like a hotel, or student accommodation. Edinburgh with the fringe means during August accommodation is at a premium. Kinda seems the most obvious route. What was the story with the Killie Hotel actually? 

 

I'd love to see us touch £20m through 'true' revenue, like not one offs in terms of player sales or benefactors. Obviously a fair distance off, but we're yet to see the main stand full operational yet so it could help us get some of the way there. 

[Victorian]

I'm sensing that not everyone is entirely happy.    Amirite?

[Jamboelite]

55 minutes ago, Icon of Symmetry said:

 

See, that's what I mean though. The £24m you quote is an investment and money will come in from that investment.

 

The £1m+ p/a from FoH could even be built up to pay for future infrastructure projects, freeing the same amount to be spent on the team instead.

It is of course an investment but did it need to cost £24m or has there been issues and problems to which bad management of funds has been the root cause.

 

We all agree the stadium and infrastructure is miles better but i dont think we should just dismiss a closer look.

 

And I agree £1m in football terms in Scotland is never to be sniffed at of taken for granted.

[Francis Albert]

2 hours ago, Jamboelite said:

It is of course an investment but did it need to cost £24m or has there been issues and problems to which bad management of funds has been the root cause.

 

We all agree the stadium and infrastructure is miles better but i dont think we should just dismiss a closer look.

 

And I agree £1m in football terms in Scotland is never to be sniffed at of taken for granted.

I certainly find it odd that an 8% fall off in FoH subs, possibly temporary, should generate interest but to question a largely unexplained £24m cost for "stadium redevelopment" is viewed as eccentric or disloyal. And is just assumed to be justified by future profits.

 

And Ann has now bragged twice (at the HMSA dinner and in the comments on the accounts) that other Premiership Chairmen and Directors have praised the Directors Suite as the best such facility in the country. Well I am not really enthused by how royally we entertain Leanne and her equivalents in other clubs. I just hope it makes a profit on non-match days.

 

Edited November 18, 2019 by Francis Albert

[Famous 1874]

16 hours ago, Weakened Offender said:

 

FFS 🤡

Anything I said untrue?

[Kiwidoug]

AB has done a terrific job.  We are in a better position now as a club than we have been in my lifetime.  Much better.

 

She will be as frustrated as anyone with the poor form of the 1st team and the horrific run of injuries to key players.  She will also be frustrated that a number of key signings have been absolute flops.

 

We are now in a position where the injuries are clearing up and key appointments are about to be made.  With any luck at all our fortunes will improve significantly on the pitch over the next weeks and months.

 

We have every reason to be optimistic.

 

 

[sinks]

4 hours ago, Icon of Symmetry said:

 

It's insane that people are blasé about £1m+ at our level. Honestly can't get my head around the disregard people have for us optimising our turnover and income as if it doesn't make any difference. Once we get the management situation sorted out, the extra clout from the infrastructure and FoH will give us a proper sporting advantage.

Once FOH have paid the loan off does ownership of Hearts Events transfer over as well,or do the current directors retain ownership?

[Beast Boy]

1 hour ago, sinks said:

Once FOH have paid the loan off does ownership of Hearts Events transfer over as well,or do the current directors retain ownership?

I would think the whole shooting match is owned by Bidco and when we buy the shares, we own everything that Bidco owned.

[Cade]

Hearts bringing in record turnovers and profits.

 

Some mups still seething.

 

[Guest ToqueJambo]

1 hour ago, Francis Albert said:

I certainly find it odd that an 8% fall off in FoH subs, possibly temporary, should generate interest but to question a largely unexplained £24m cost for "stadium redevelopment" is viewed as eccentric or disloyal. And is just assumed to be justified by future profits.

 

And Ann has now bragged twice (at the HMSA dinner and in the comments on the accounts) that other Premiership Chairmen and Directors have praised the Directors Suite as the best such facility in the country. Well I am not really enthused by how royally we entertain Leanne and her equivalents in other clubs. I just hope it makes a profit on non-match days.

 

Whatever the stand cost it’s worth it. It’s partly symbolic as it means Hearts and tynecastle is finally secure, but it will also pay off financially in the long term. At our level true game changing investment on the pitch needs to be in the 10s of millions in terms of challenging the OF - tens of millions EVERY year.

 

We’re doing it right by investing heavily in youth as well as having a competitive playing budget, while staying within out means.

 

We saw with the SMG money and Romanov that big windfalls can get spent very quickly with not much return.

 

I mean a team of half youth grads and some journeymen not even getting paid had a better cup win than the highly paid 2006

team.

[sinks]

16 minutes ago, Icon of Symmetry said:

I would think the whole shooting match is owned by Bidco and when we buy the shares, we own everything that Bidco owned.

Tynecastle Events had only 3 directors,Ann Budge,Eric Hogg and Craig Levein.Craig resigned on 31/10 19.

 

Maybe FF would know?

[Francis Albert]

4 minutes ago, ToqueJambo said:

Whatever the stand cost it’s worth it. It’s partly symbolic as it means Hearts and tynecastle is finally secure, but it will also pay off financially in the long term. At our level true game changing investment on the pitch needs to be in the 10s of millions in terms of challenging the OF - tens of millions EVERY year.

 

We’re doing it right by investing heavily in youth as well as having a competitive playing budget, while staying within out means.

 

We saw with the SMG money and Romanov that big windfalls can get spent very quickly with not much return.

 

I mean a team of half youth grads and some journeymen not even getting paid had a better cup win than the highly paid 2006

team.

The original budget for  "the stand" was about £9m.

Together with undefined revenue positive "stadium redevelopment" elsewhere in the ground (what are they?) it is now at least £24m.

 

[Francis Albert]

5 minutes ago, sinks said:

Tynecastle Events had only 3 directors,Ann Budge,Eric Hogg and Craig Levein.Craig resigned on 31/10 19.

 

Maybe FF would know?

I assume it is just a subsidiary of Hearts and will transfer to FoH as part of the transfer when Ann is paid. It would be very strange if Ann and her partner retained ownership after the transfer of shares in Hearts plc.

In fact more than strange.

Edited November 18, 2019 by Francis Albert

[Guest ToqueJambo]

4 minutes ago, Francis Albert said:

The original budget for  "the stand" was about £9m.

Together with undefined revenue positive "stadium redevelopment" elsewhere in the ground (what are they?) it is now at least £24m.

 

I’m not fussed or interested.

 

Do we have a fine new stand? Yes

Is the future of Tynecastle secure? Yes

Do we have a good squad when everyone’s fit containing Scotland’s best young defender, Scotland’s future CB pairing when fit, Scotland’s best forward, NI’s best RB and Ireland’s best centre mid? Yes

Did we still just post a profit? Yes

 

I’m a happy fan, shareholder and FoH member. Everything is in place to kick on with a new manager in place.

Edited November 18, 2019 by ToqueJambo

[The Hogfather]

But...but...but...the cash cow?

[Footballfirst]

10 minutes ago, sinks said:

Tynecastle Events had only 3 directors,Ann Budge,Eric Hogg and Craig Levein.Craig resigned on 31/10 19.

 

Maybe FF would know?

It's a wholly owned subsidiary of HMFC plc, so if HMFC changes ownership then Tynecastle Events will go with it.

 

See page 36 of the accounts

[Sheriffs]

Why the escalators? 

 

WE NEED TO KNOW !!!!

[sinks]

Thanks for the replies guys

[Bazzas right boot]

19 hours ago, Sid said:

I look at the overall situation a bit more simplistically. 

we were buggered. 
 

ONLY Ann stumped up the cash up front to keep us alive. She has owned the club between then and next May(ish). 
 

What is of interest to me is what she hands over next year. 

 

It looks very much like we will get a Dramatically  better Stadium. A great pitch. World class Training facilities and Academy in good shape. Revenues at a level which should be able to fund the third highest squad in Scotland.  Hopefully, new manager and team climbing up the table but any new manager is a risk. 
 

I’m not really that fussed about who got the contracts to build stuff or run the bar. Escalating costs were managed so that we didn’t end up with a pile of extra debt. 
 

I don’t think anyone can argue that what we are getting is way beyond our expectations. 
 

nothing but admiration for what she has done for us.  Not tarnished by her giving Levein too long to turn the footballing side around. 

 

How I feel as well.