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Our Next CEO


Ainsley Harriott

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scott herbertson
1 minute ago, Boris said:

True, but I was meaning more from a boardroom perspective. Ultimately the buck stops/stopped with her.

 


i understand

 

Not sure how much that will change in day to day practice in the Boardroom should she stay on. I would expect the CEO, whoever it is,  to get on with the job with only the strategic direction being given by the FOH Board. Major capital projects will be scrutinised more though so in that respect I agree.

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I don't think they necessarily have to be football people but I'm sure as football fans they'll have reasonable knowledge. I think the most important position going forward is the sporting director, that has to be a top notch appoint

appointment (if it ever happens). 

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Bazzas right boot
20 minutes ago, Taffin said:

 

I've seen the bit in bold written a few times, but never had an answer to the following questions.

 

When will the project:

A) break even?

B ) start making a profit?

C) how will it generate £30/40 million pounds of additional profit?

 

 

We're already making money. 

 

The old stand needed replaced, badly. 

Figures quoted of around £500k a year just to maintain. 

 

How anyone can turn the new stand into a negative is beyond me tbh. 

 

 

 

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8 minutes ago, Smith's right boot said:

 

He'd make us great again. 

 

Get hibs to pay for our stand as well. 

 

 

He's got his hands full with Airdrie just now.

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Footballfirst

I'd expect that AB will nominate someone she knows to take over, possibly someone who is already on the Board such as Jacqui Duncan.

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Bazzas right boot
30 minutes ago, graygo said:

 

Nearly every single post you get it spot on. 👍

 

Many would disagree. 

24 minutes ago, graygo said:

 

He's got his hands full with Airdrie just now.

 

Apparently so. 😭😭

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1 hour ago, Ribble said:

Will the football savvy CEO also bring benefactors with them or will we just do without that cash?

We will also have to find around 250k for a salary for a new CEO which the current one doesn’t claim. 

At least we will find out if the benefactors are connected to Mrs Budge. 

Careful what you wish for is an apt phrase I believe. 

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Bazzas right boot
15 minutes ago, Footballfirst said:

I'd expect that AB will nominate someone she knows to take over, possibly someone who is already on the Board such as Jacqui Duncan.

 

 

Hope it is another woman tbh. 

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36 minutes ago, Footballfirst said:

I'd expect that AB will nominate someone she knows to take over, possibly someone who is already on the Board such as Jacqui Duncan.

Isn’t she the finance person? Does she know anything about football?

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59 minutes ago, Footballfirst said:

I'd expect that AB will nominate someone she knows to take over, possibly someone who is already on the Board such as Jacqui Duncan.

Yes, she is being lined up to take it on. FoH will not object to Ann's choice. Unfortunately she has less football experience than Ann but that doesn't really matter in the current succession plan. It's all about keeping tight control. Ann Chairman, Jacqui, new CEO.

 

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1 hour ago, sac said:

JK Rowling. (Just for her cash)


No thanks - we’ve just got rid of ‘Harry Potter’.....

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3 hours ago, mitch41 said:

Ann Budge is too soft with contractors £12 million jumps to £22 million + , our pitch cost £ 1 million and it’s a mess, Cathro & Levein have cost us millions by signing duds many of them we couldn’t get rid of because of the length contracts, which Budge should never of allowed and she still has Levein working for Hearts which is astonishing after the damage he has done.

And you want her to stay on !


Sorry but most of that is subjective.

 

No matter who we end up with people will unfairly question the decisions made as the people in the positions of (relative) power need to make decisions based on facts which are then tested in reality. People on message boards are permitted the luxury of suggesting opinions which never actually get put into practice and can never be proven wrong.

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2 hours ago, Smith's right boot said:

 

 

We're already making money. 

 

The old stand needed replaced, badly. 

Figures quoted of around £500k a year just to maintain. 

 

How anyone can turn the new stand into a negative is beyond me tbh. 

 

 

 

 

So, another post not answering that question. Great, thanks for adding to the discussion.

 

Why is it negative to ask people to quantify their assertions?

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Lord Beni of Gorgie
2 minutes ago, Taffin said:

 

So, another post not answering that question. Great, thanks for adding to the discussion.

 

Why is it negative to ask people to quantify their assertions?

I think its called a long term investment. Does that answer the question?

 

These things rarely make the money back in 5 mins, its the year on year revenues, you might have to look at the accounts for years to come to appreciate it.

 

Do you think it was the wrong thing to do, and what would you have chose as the option, bearing in mind the old stand was costing over .5 million a year just to maintain a safety cert

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4 hours ago, Smith's right boot said:

Are there any football savvy ceo's or owners. 

 

Looking, even in Scotland 

 

Aberdeen, no

Celtic no

Rangers no

Hibs no

 

In England, Liverpool, man City, arsenal, man Utd, no, no and nope. 

 

There will be some, I'm sure but money, leadership and common sense are far more important. 

 

This thing that our owner / ceo needs to be football savvy needs to go to the myth thread. 

 

Big Vlad..... Mercer, nope, nope. 

 

 

Hopefully Ann stays on, backs Stendel, gets a dof in place if that's our way and has learned from giving 1 person too much responsibility. 

 

 

 

Nope, none. One of the most successful in recent memory, David Gill, came to Man U from a travel agent...

 

I agree, the issue AB has had has been not having enough of an advisory within the club. You also have to look at the fact that early on her tenure, everything was going very well, so there probably wasnt a need to widen her network. After 2 years you could easily say the DoF was getting it right, on and off thr pitch.

 

The ones who guided early success also created failure, but like all good leaders, I think she is trying to learn, adapt and restructure.

 

 

Edited by spacerjoe
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3 hours ago, Taffin said:

 

I've seen the bit in bold written a few times, but never had an answer to the following questions.

 

When will the project:

A) break even?

B ) start making a profit?

C) how will it generate £30/40 million pounds of additional profit?

 

The stand itself wont make profit - it's just a revenue stream. Whether or not the business makes a profit depends on what we decide to do with the extra income.

 

If there are loans against it, I would imagine, just any other large scale investment, there is a repayment plan.

 

Are you asking what the repayment plan is?

 

I'm confused by the question.

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3 hours ago, Taffin said:

 

I've seen the bit in bold written a few times, but never had an answer to the following questions.

 

When will the project:

A) break even?

B ) start making a profit?

C) how will it generate £30/40 million pounds of additional profit?

 

My rough estimate would be:

 

A) - 3000 Extra seats at £500 = £1.5m per season.  An extra £1m per season hospitality and no longer paying £0.5m per season to maintain the old stand.  Therefore, around £3m better off per season so 7 years to break even.

'B) It's making a profit

C) The figures in A are estimates but overtime 10 - 20 years the new stand could achieve £30 - £40m additional revenues that weren't possible with the old main stand.

 

 

 

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3 hours ago, Boris said:

 

Remember that once FoH takes over as majority shareholder, Ann Budge's relationship with the club will be different to what it is now.

 

So those things that you mention were done by her, in the best interests of the club I presume, but it was the club SHE owned, so no real accountability/checks or balance.

 

 

Very true.

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1 hour ago, DalryJambo said:


Sorry but most of that is subjective.

 

No matter who we end up with people will unfairly question the decisions made as the people in the positions of (relative) power need to make decisions based on facts which are then tested in reality. People on message boards are permitted the luxury of suggesting opinions which never actually get put into practice and can never be proven wrong.

Very true.

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Footballfirst
20 minutes ago, TurboT said:

 

My rough estimate would be:

 

A) - 3000 Extra seats at £500 = £1.5m per season.  An extra £1m per season hospitality and no longer paying £0.5m per season to maintain the old stand.  Therefore, around £3m better off per season so 7 years to break even.

'B) It's making a profit

C) The figures in A are estimates but overtime 10 - 20 years the new stand could achieve £30 - £40m additional revenues that weren't possible with the old main stand.

You need to subtract VAT from the seat prices and also take account of a proportion being at concession prices.  Not all seats were (will be) sold. Indeed ST numbers were down this season, although as a result of there being more Platinum seats, the loss in numbers is offset by the increased price per seat, when compared to the old stand.

 

The new stand will still require to be maintained, whether it is blocked toilets, broken seats, re-painting or whatever. It might be less than the old stand, but maintenance costs won't disappear altogether.

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1 hour ago, Sir Gio said:

I think its called a long term investment. Does that answer the question?

 

No. Im aware of that...but it was stated with certainty that it will recoup the overspend many times over. That sounds quite definitive so assumed there was some ROI available for it.

 

1 hour ago, Sir Gio said:

 

These things rarely make the money back in 5 mins, its the year on year revenues, you might have to look at the accounts for years to come to appreciate it.

 

Again, I know that. I'm not making any claims about what it will or won't do. I'm asking how people know that it will make some sort of great profit that will offset the overspend by a multiple 

 

1 hour ago, Sir Gio said:

 

Do you think it was the wrong thing to do, and what would you have chose as the option, bearing in mind the old stand was costing over .5 million a year just to maintain a safety cert

 

 

No. It was the right thing to do. It can be the right thing to do without making up outlandish claims about its return on investment.

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33 minutes ago, TurboT said:

 

My rough estimate would be:

 

A) - 3000 Extra seats at £500 = £1.5m per season.  An extra £1m per season hospitality and no longer paying £0.5m per season to maintain the old stand.  Therefore, around £3m better off per season so 7 years to break even.

'B) It's making a profit

C) The figures in A are estimates but overtime 10 - 20 years the new stand could achieve £30 - £40m additional revenues that weren't possible with the old main stand.

 

 

 

 

So it will take 7 years to break even but is already making a profit? I don't get that. 

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5 hours ago, Meadows said:

David Southern suit anyone ? 

 

5 hours ago, mitch41 said:

Not funny

 

Davis Southern was managing director under almost impossible conditions during the dying stages of the Vlad era.

 

We should bear that in mind before we level too much criticism at him.

 

I have no idea whether he would be suitable as CEO at Hearts.

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41 minutes ago, Taffin said:

 

So it will take 7 years to break even but is already making a profit? I don't get that. 

 

If you decide to amortize the cost of a tangible asset, you can split that cost on your books over a number of years. That number of years is normally dictated by the usefulness lifespan of the asset. I don't know about stadiums, but with buildings that can be between 15 and 20 years.

 

Therefore, yes, you can make a return on the investment almost immediately, in terms of a balance sheet, if your new revenue exceeds costs.

 

In this case, you also have to look at the fact that a lot of the payment here was made through benefactors; cash that ordinarily would not have been available otherwise, so even if we decided not to amortize anything, you can remove a fair chunk from the equation. Its not like that cash would have gone into the business regardless.

 

 

Edited by spacerjoe
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Grateful to Ann Budge for her part in saving and restoring the club but we need a change of CEO.

 

If she stays on she'll still rely on Levein for advice, whether he's on the payroll or not, and I can't stomach that. 

 

Time to move on with someone who can lead from the front and not from the rear while the second in command leads the way.

 

Much like DS is doing on the training pitch. 

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Guest ToqueJambo

Just someone's who's not an egotistical prick, has a decent business brain, is loaded so money's not their main objective, is a Hearts fan and who has the best interests of Hearts as their priority rather than their career, so is unlikely to jump ship. I vote Ann Budge.

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Guest ToqueJambo
15 minutes ago, spacerjoe said:

 

If you decide to amortize the cost of a tangible asset, you can split that cost on your books over a number of years. That number of years is normally dictated by the usefulness lifespan of the asset. I don't know about stadiums, but with buildings that can be between 15 and 20 years.

 

Therefore, yes, you can make a return on the investment almost immediately, in terms of a balance sheet, if your new revenue exceeds costs.

 

In this case, you also have to look at the fact that a lot of the payment here was made through benefactors; cash that ordinarily would not have been available otherwise, so even if we decided not to amortize anything, you can remove a fair chunk from the equation. Its not like that cash would have gone into the business regardless.

 

 

 

 

Worth acknowledging who it was who managed to get these benefactors on board.

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44 minutes ago, Maple Leaf said:

 

 

Davis Southern was managing director under almost impossible conditions during the dying stages of the Vlad era.

 

We should bear that in mind before we level too much criticism at him.

 

I have no idea whether he would be suitable as CEO at Hearts.

Reading ian Murray's book is also very enlightening to his contribution from inside the club along with other staff such as Fiona Sinclair. Bryan Jackson kept him on to run the club operations through administration. Not sure if he'd be a good CEO or not but seems he played his part back when it was required.

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40 minutes ago, martoon said:

Grateful to Ann Budge for her part in saving and restoring the club but we need a change of CEO.

 

If she stays on she'll still rely on Levein for advice, whether he's on the payroll or not, and I can't stomach that. 

 

Time to move on with someone who can lead from the front and not from the rear while the second in command leads the way.

 

Much like DS is doing on the training pitch. 

And you know that Levein will advise, how?

 

Also, post sale, any CEO will have a stricter governance (for want of a word) due to FoH ownership.

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Fort Vallance
6 hours ago, Smith's right boot said:

Are there any football savvy ceo's or owners. 

 

Looking, even in Scotland 

 

Aberdeen, no

Celtic no

Rangers no

Hibs no

 

In England, Liverpool, man City, arsenal, man Utd, no, no and nope. 

 

There will be some, I'm sure but money, leadership and common sense are far more important. 

 

This thing that our owner / ceo needs to be football savvy needs to go to the myth thread. 

 

Big Vlad..... Mercer, nope, nope. 

 

 

Hopefully Ann stays on, backs Stendel, gets a dof in place if that's our way and has learned from giving 1 person too much responsibility. 

 

 

 

You don't think the Celtic CEO is doing a good job for them ? Doesn't give a toss about anyone else but surely can't argue what he's done for them. 

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3 minutes ago, Fort Vallance said:

You don't think the Celtic CEO is doing a good job for them ? Doesn't give a toss about anyone else but surely can't argue what he's done for them. 

 

That's not the point SRB is making at all. He's arguing that you don't need to have a solid football background to be the CEO of a large football club.

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Fort Vallance
6 minutes ago, redjambo said:

 

That's not the point SRB is making at all. He's arguing that you don't need to have a solid football background to be the CEO of a large football club.

Fair point.

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Footballfirst
15 minutes ago, eyesandears said:

Reading ian Murray's book is also very enlightening to his contribution from inside the club along with other staff such as Fiona Sinclair. Bryan Jackson kept him on to run the club operations through administration. Not sure if he'd be a good CEO or not but seems he played his part back when it was required.

 

David Southern was originally employed as a marketing and communications executive.  He didn't have any great football experience, before being appointed as Managing Director.  He was never actually on the HMFC Board at any time during his employment.

 

He certainly helped FOH, in terms of being their eyes and ears while the club descended into insolvency.

 

My reservations about him doing that were that he opted to stay with the sinking ship and say nothing, while more than £1m of fans cash was taken in the 2012 share offer and a further £1m was taken in ST cash in the spring of 2013 just before the club went into administration. That cash was gone the minute it hit the club's account.

 

Some view his role as a positive one, through the assistance given to FOH, but I view it as a huge risk or gamble with fans cash. 

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Lord Beni of Gorgie
2 hours ago, Taffin said:

 

No. Im aware of that...but it was stated with certainty that it will recoup the overspend many times over. That sounds quite definitive so assumed there was some ROI available for it.

 

 

Again, I know that. I'm not making any claims about what it will or won't do. I'm asking how people know that it will make some sort of great profit that will offset the overspend by a multiple 

 

 

 

No. It was the right thing to do. It can be the right thing to do without making up outlandish claims about its return on investment.

Personally surprised it went to that cost.

 

Apparently we score low on corporate governance which surprised me,  however commercially we are very good and the best in the country engaged with stakeholders 

 

I suppose all we can say,  the investment surely sets up the best business opportunities moving forward. 

 

How much it then makes will depend on its keeper 

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Footballfirst
32 minutes ago, Sir Gio said:

Apparently we score low on corporate governance which surprised me,  however commercially we are very good and the best in the country engaged with stakeholders  

 

AB herself has acknowledged that it is not good governance for the major shareholder to also be the chairman, to also be the chief exec.

 

I agree with her.

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2 hours ago, spacerjoe said:

 

If you decide to amortize the cost of a tangible asset, you can split that cost on your books over a number of years. That number of years is normally dictated by the usefulness lifespan of the asset. I don't know about stadiums, but with buildings that can be between 15 and 20 years.

 

Therefore, yes, you can make a return on the investment almost immediately, in terms of a balance sheet, if your new revenue exceeds costs.

 

In this case, you also have to look at the fact that a lot of the payment here was made through benefactors; cash that ordinarily would not have been available otherwise, so even if we decided not to amortize anything, you can remove a fair chunk from the equation. Its not like that cash would have gone into the business regardless.

 

 

 

 

With Land and Buildings and presumably our stand. revaluation is likely. as value generally increases over time.If we make a profit we could also utilise some capital annual investment allowances although  the profile of the business probably means they would be immaterial.

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