Wage cut for players and staff (Statement on 24/4)

[Voxpop]

The criticism of management for this situation just shows the lack of intelligence in our support - do people not watch the news?  You try running a business for a year with no income.  
 

make no mistake, there is a high chance that were will be no football for 12 months and we see the vast majority of clubs in Scotland go to  the wall. We may well be starting Scottish football from the ashes in the 21-22 season.
 

 

[Malinga the Swinga]

Just now, maroonedinoz said:

I’ve literally just woke up to this news, and help me out, because I don’t understand.

 

i should say that I haven’t read all the 8 pages so if it is already explained, apologies

 

i get that we won’t get any additional income for a while, but isn’t the vast majority of our ‘match day’ revenue already paid by means of season tickets?

 

we’ve already got that, so  my reading, is either our budgeting is crap, or we have been living way beyond our means.

 

and sorry, I don’t see Budge’s action as ‘prudent’ action for the future....any way I look at it I see desperation.

 

so what exactly has all the season ticket money been already spent on.?

Another troll.

[Suso Santana]

1 minute ago, Malinga the Swinga said:

To clarify your post, Hearts asking staff to take a pay cut is bigger than a global pandemic that has killed thousands, hospitalised thousands more, and threatens the global economy on a scale that no one has ever seen before.

 

I think you have lost your sense of perspective.

 

Not really, We should be well off and yet we're the first team (as far as i'm aware) to come out with this. 

Call it being pro active, call it being transparent, call it being sensible, it's still bloody worrying. 

[soonbe110]

49 minutes ago, Geoff Kilpatrick said:

The big picture is a poker game as other clubs are in the same position. If we announce a financial restructuring now while other clubs face worse, it strengthens any case for us if the authorities tried to relegate us.

Exactly. Expect a decision re season tomorrow or Friday. Boris saying tonight that schools probably out until Aug/September at earliest is clear signal that 2019/20 football season cannot be completed. 

[i8hibsh]

Any talk of the Ann Budge foundation making cutbacks on the missionary work and vanity projects or is it just the pesky "footballing side" of the business?

[soonbe110]

45 minutes ago, kingantti1874 said:

Surprised people who I genuinely thought hearts fans having a go at the club for doing the correct thing, which will be repeated All across Scotland soon.

 

 

Disappointed, again but surprised? No. 

[Riccarton3]

5 minutes ago, Malinga the Swinga said:

To clarify your post, Hearts asking staff to take a pay cut is bigger than a global pandemic that has killed thousands, hospitalised thousands more, and threatens the global economy on a scale that no one has ever seen before.

 

I think you have lost your sense of perspective.

I don't think perspective is his thing, man/bro/mate

[Koolkeith]

I’m assuming a factor in the statement is to control when and what they want to say. Guarantee it would have been immediately leaked to the press 

[Kiwidoug]

3 minutes ago, flecktimus said:

Always wanted to say this.

 

THIS THREAD REEKS

 

If we were to believe what people are saying on here, then i am a bad business person. My business will run out of money next week as i now have no revenues, due to people not moving about the country. There will be many people in the coming weeks that will be thankful of a cut in wages. Tough weeks ahead and tough decisions to be made. 

Bravo.  Our business has nosedived as well.  In our case, if it doesn't pick up significantly before Xmas, we'll be closing the doors.

 

We're not blaming Ann Budge.  We're not blaming anyone.  We're just hoping that as few people as possible die from this virus.

[Malinga the Swinga]

1 minute ago, Suso Santana said:

 

Not really, We should be well off and yet we're the first team (as far as i'm aware) to come out with this. 

Call it being pro active, call it being transparent, call it being sensible, it's still bloody worrying. 

We have no income coming in. We have wages and outgoing to pay. We play in Scotland with a pish to deal. How are we ever going to be able to ride this out. FFS, it really isn't that difficult to understand. 

[Prof]

Just now, soonbe110 said:

Presume you knew Coronavirus was coming and your personal finances are well protected from the economic situation. Well done. Pity you hadn’t told us all in advance. 

Not being a half wit and capable of thinking , yes my finances are rock solid. No other club in Scotland has made a pathetic statement like Budge. Yet the usual suspects are out saying she’s doing a great job. Same thing happened with Levein.

[maroonedinoz]

2 minutes ago, Malinga the Swinga said:

Another troll.

No, just a lifelong fan from the other side of the world trying to understand it all

[soonbe110]

36 minutes ago, Prof said:

Budge paid £2.5 million for 100% of Hearts. FOH have contributed £8.2 million and now apparently we are back in a precarious financial position as evidenced by her statement. Season ticket sales are around 13k, no money has been offered to season ticket holders as a refund. There are only 10 games to go and we are bottom of the SPFL. Yet apparently we are in financial trouble. And you call me thick for saying she should go. Next thing you’ll be saying she’s done a great job.

So many errors in your numbers, very hard to take you seriously. 

[sadj]

****ing hell some of the shit being spouted on this thread.

 

big bad Budge asking people to keep getting a wage but a lower one while we have zero income. Disgrace we are in this situation. ****ing wallopers on here. Arseholes and interlopers

[Suso Santana]

Just now, Malinga the Swinga said:

We have no income coming in. We have wages and outgoing to pay. We play in Scotland with a pish to deal. How are we ever going to be able to ride this out. FFS, it really isn't that difficult to understand. 

 

So what you're saying is that we're going to go bust?

[McCrae]

2 hours ago, Disco Dave said:

You surely cant blame her for not financially planning for Covid19?

As a club we have wasted a lot of money during her period in charge.  The cost over run of the stadium being a prime example. We should also have built up a rainy day fund. I don’t think she has managed the day to day operations of the club well.
 

[soonbe110]

34 minutes ago, Footballfirst said:

There are already many large companies e.g. airlines and hotel chains asking their employees to take unpaid leave.

 

Those sort of decisions put Hearts proposed 50% reduction into perspective.

Lots of redundancies as well. 

[sadj]

4 minutes ago, soonbe110 said:

Disappointed, again but surprised? No. 

👌🏻

[Malinga the Swinga]

Just now, Prof said:

Not being a half wit and capable of thinking , yes my finances are rock solid. No other club in Scotland has made a pathetic statement like Budge. Yet the usual suspects are out saying she’s doing a great job. Same thing happened with Levein.

So you can survive with no money coming in and still pay outgoing so without a problem. Congratulations, can you phone chancellor and explain how you do it because every ****in goverment in the world would like to know your secret. Most blatant troll for weeks. 

[Don Dan]

2 minutes ago, maroonedinoz said:

I’ve literally just woke up to this news, and help me out, because I don’t understand.

 

i should say that I haven’t read all the 8 pages so if it is already explained, apologies

 

i get that we won’t get any additional income for a while, but isn’t the vast majority of our ‘match day’ revenue already paid by means of season tickets?

 

we’ve already got that, so  my reading, is either our budgeting is crap, or we have been living way beyond our means.

 

and sorry, I don’t see Budge’s action as ‘prudent’ action for the future....any way I look at it I see desperation.

 

so what exactly has all the season ticket money been already spent on.?

It’s called stretching what you’ve got to make last longer as there no more income on the horizon. 
Like every business you have a business plan and a budget based on future income. If there is no future income then the plans need to be redone. 
You will possibly have debts and commitments which are based on your savings and projected income. If you have no income or even a vastly reduced income then you then need to make your savings last as long as possible till things change. If not borrow, if you can. 

[busby1985]

5 minutes ago, Cruyff said:

I'm interested to see which players choose the "contract termination" option. 

Which of the gutless shitebags will want out? 

Also interested to see this. I posted last night about how much I liked Ryan Stevenson, he was a limited player that never left anything on the park. He said he’d come and play for hearts for free, that’s how much he loved his time with Hearts. What I’d give to have more of his like in this current squad. 
 

 

 

Side note, be interested to see what PHM Levein does.....

[Don Dan]

6 minutes ago, Malinga the Swinga said:

Another troll.

 They are out in force tonight. It’s a feeding frenzy for hyenas and jackals.

[soonbe110]

22 minutes ago, Sir Gio said:

As of this time last week football was to continue.

 

Who was predicting total lockdown of all revenue streams. 

 

Also hypocrisy from fans when much of the cash has been invested in the team. 

 

She could have saved it of course for a rainy day. 

 

I'm sure you predicted there would be an epidemic 

Yes, just one week from our last game. 

[Suso Santana]

It's called Budge giving levein too much money and she's now shitting herself. 

 

[Prof]

1 minute ago, soonbe110 said:

So many errors in your numbers, very hard to take you seriously. 

All of the values were checked before posting. But maybe I should simply go along with the concept that Budge is doing a great job and every other club is in the same position as we are. Only problem with that is the missing FOH money and that no other club is coming out with the same cretinous comment a few years after we entered administration.

[Cruyff]

Just now, busby1985 said:

Also interested to see this. I posted last night about how much I liked Ryan Stevenson, he was a limited player that never left anything on the park. He said he’d come and play for hearts for free, that’s how much he loved his time with Hearts. What I’d give to have more of his like in this current squad. 
 

 

 

Side note, be interested to see what PHM Levein does.....

If Levein was a PHM, he would have left without taking a penny. 

[Francis Albert]

32 minutes ago, jambopilms said:

It might be over the budget (like many construction projects) but it has had little effect on our budgets and has given us little or no debt. 

True and of course it is easy to make judgements in hindsight. But  I am on record as being sceptical about football clubs diversifying in the hope that other revenues will shore up or subsidise the football business. I am old enough to remember the hopes and failure of the social club cum cabaret venue cum drinking den of the 60's. A large amount has been spent on hospitality and other facilities designed to profit from non-core business related revenues and I mean not just non-core for Hearts  but non-core for the businesses using them

 How long will it before businesses spend on corporate hospitality again? 

 

[Malinga the Swinga]

6 minutes ago, i8hibsh said:

Any talk of the Ann Budge foundation making cutbacks on the missionary work and vanity projects or is it just the pesky "footballing side" of the business?

wondered when you would turn up. Some would say you are already posting using other accounts, but not me. Wouldn't want you running to anyone saying you were being picked on or bullied. 

[IveSeenTheLight]

59 minutes ago, Geoff Kilpatrick said:

The big picture is a poker game as other clubs are in the same position. If we announce a financial restructuring now while other clubs face worse, it strengthens any case for us if the authorities tried to relegate us.

 

I agree, it is a great opportunity to sway influence on the association, but I also have my doubts as this is the employees livelihoods that are being affected, so in one way hopefully its not gamesmanship.

[McCrae]

6 minutes ago, i8hibsh said:

Any talk of the Ann Budge foundation making cutbacks on the missionary work and vanity projects or is it just the pesky "footballing side" of the business?

It makes the £150k + wasted on women’s football look even more ridiculous. For a club in our financial position is was such a stupid decision to make..

[sadj]

2 minutes ago, Malinga the Swinga said:

So you can survive with no money coming in and still pay outgoing so without a problem. Congratulations, can you phone chancellor and explain how you do it because every ****in goverment in the world would like to know your secret. Most blatant troll for weeks. 

 

6 minutes ago, Prof said:

Not being a half wit and capable of thinking , yes my finances are rock solid. No other club in Scotland has made a pathetic statement like Budge. Yet the usual suspects are out saying she’s doing a great job. Same thing happened with Levein.

Capable of thinking yet you literally word for word posted ozyhibbys on .net post on here word for word figure wise 🙈

[jambopilms]

I think the time to tell if she has done the right thing is when football starts up again. If we are still standing then she has done it right. 

[sadj]

1 minute ago, McCrae said:

It makes the £150k + wasted on women’s football look even more ridiculous. For a club in our financial position is was such a stupid decision to make..

🙈 honest to **** you and i8 have become a parody

[J.T.F.Robertson]

21 minutes ago, b-reed said:

has Ann Budge spoke to the players union before releasing the statement about 50% wage cut... if not I can see then getting involved.... what ever way you look at it its a disaster for hearts and there supports....

 

Their their now, stop you're worrying.

 

[soonbe110]

14 minutes ago, Jap Jambo said:

 

I'm sure he still will, my point was that if his worth was 10k a week in December it's now a fraction of that. Football will have to cut it's cloth at all levels just like everyone else.  It would be a very good time to have a long guaranteed contract (employer credit risk aside).

 

Even in the new world he will earn a lot more in the east end of Glasgow than he will in Edinburgh and certainly a lot more than he is earning today. 

[Malinga the Swinga]

2 minutes ago, Dannie Boy said:

 They are out in force tonight. It’s a feeding frenzy for hyenas and jackals.

First time I have ever used report function. Just too many on tonight or more likely, one or two using multiple accounts. They nearly all have same post count, give or take a couple.

[sadj]

Just now, J.T.F.Robertson said:

 

Their their now, stop you're worrying.

 

😂😂😂

[MrBones]

14 minutes ago, trotter said:

Maybe we are still in a stronger position than you think, maybe Ann realised it's better to make the cuts sooner knowing that you can sustain them longer before firing people, rather than wait an unknown length of time for things to get better but then having to slash salaries to zero?

Maybe...still, we have wasted a ton of cash on wasters 

[Prof]

2 minutes ago, Malinga the Swinga said:

So you can survive with no money coming in and still pay outgoing so without a problem. Congratulations, can you phone chancellor and explain how you do it because every ****in goverment in the world would like to know your secret. Most blatant troll for weeks. 

It’s called savings and investment. Think you’ll find it’s fairly common knowledge in banking. As for trolling I’ve been watching the club since the late 1950’s like a few others have. And seen many boards and owners and can think of only one that did a good job. Maybe with your great experience of Hearts you can suggest otherwise. Pissing over £8 million of FOH’s money against a new stand isn’t success. 

[soonbe110]

11 minutes ago, Prof said:

Not being a half wit and capable of thinking , yes my finances are rock solid. No other club in Scotland has made a pathetic statement like Budge. Yet the usual suspects are out saying she’s doing a great job. Same thing happened with Levein.

Check out Raith and Partick. Check your facts before posting crap. 

[Prof]

4 minutes ago, sadj said:

 

Capable of thinking yet you literally word for word posted ozyhibbys on .net post on here word for word figure wise 🙈

Another stupid comment. I do post on Hibs net but only undercover and on the windup. By the way your syntax is incorrect.

[MoncurMacdonaldMercer]

shrood bizniswoomen queen ann

 

any news on the stand will it be finished soon?

 

always wanted to do that clever spelling thing 

 

 

 

[Suso Santana]

https://www.footballscotland.co.uk/transfer-news/craig-leveins-hearts-signings-rated-16505241

 

We should take Levein to court for over spending

Just the 70 players he signed. 

 

Edited March 18, 2020 by Suso Santana

[Vlad Magic]

6 minutes ago, sadj said:

 

Capable of thinking yet you literally word for word posted ozyhibbys on .net post on here word for word figure wise 🙈

 

[jock _turd]

4 minutes ago, sadj said:

****ing hell some of the shit being spouted on this thread.

 

big bad Budge asking people to keep getting a wage but a lower one while we have zero income. Disgrace we are in this situation. ****ing wallopers on here. Arseholes and interlopers

 

 

There is some shit yes I will grant you that. There is no way anybody could have seen this coming. But as I have already said while what AB is doing makes total sense, I find it very strange that we are the first out of the blocks to make the announcement that frankly I would be expecting from other teams who are said to be struggling financially. So what I am saying is no I am not going to slag off AB for doing this it is a very sensible move, it just surprises me that we are the first club doing it... or at least saying what we are doing up front.

[MrBones]

5 minutes ago, Malinga the Swinga said:

First time I have ever used report function. Just too many on tonight or more likely, one or two using multiple accounts. They nearly all have same post count, give or take a couple.

You use the report function because people have a different opinion to you? Seriously this board is unreal for name calling and insults just because someone has a different opinion

Edited March 18, 2020 by MrBones

[Prof]

1 minute ago, soonbe110 said:

Check out Raith and Partick. Check your facts before posting crap. 

Since when were Raith and Patrick comparable to Hearts. Have a look at the SPFL table the right way up and then say we are doing great.

[Prof]

1 minute ago, jock _turd said:

But as I have already said while what AB is doing makes total sense, I find it very strange that we are the first out of the blocks to make the announcement that frankly I would be expecting from other teams who are said to be struggling financially.

👍

[J.T.F.Robertson]

14 minutes ago, maroonedinoz said:

No, just a lifelong fan from the other side of the world trying to understand it all

 

You don't have to convince anyone of that. His comment was made in ignorance.

 

[i8hibsh]

3 minutes ago, McCrae said:

It makes the £150k + wasted on women’s football look even more ridiculous. For a club in our financial position is was such a stupid decision to make..

 

We were not even a week out of admin before she started on her 'luxury' spends which have as much place at our club as the Green Brigade. She just can't help herself. All community, charity and diversity projects must be put on hold with immediate effect. No digital innovation centres, no under 16's girls team, no concerts, no save the children donations, it all must stop right now. We have one priority and that is survival. That is to survive relegation and survive this economic drowning.