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


Bunny Munro

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Toxteth O'Grady
21 minutes ago, It should have been ten said:


It’s not though but don’t let that get in the way of your pish. 

Tell me how it isn't

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31 minutes ago, indianajones said:

Other clubs fans laughing at us. 

 

Truth is we are in probably better shape than they are to deal with this pish. Their owners will be following our statements shortly. 


In what way is the club in better shape?  Not arguing or doubting you but reassurance would be good. 

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jamboinglasgow
40 minutes ago, indianajones said:

Other clubs fans laughing at us. 

 

Truth is we are in probably better shape than they are to deal with this pish. Their owners will be following our statements shortly. 

 

I agree, as we are the first to do something everyone is going mock us and make a huge deal of it but I fear that we the start of a large number of announcements from teams, some a lot worse for their clubs.

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5 hours ago, cjambo1993 said:


**First club to react to an unprecedented situation in order to prevent financial turmoil.

 

But just you bash on with blaming Budge and Levein for a global Pandemic 🤣

And just you continue to bury your head in the sand 

question for you .,., what other club has raised 9 million from fans in SPL and is in financial difficulties..., think you need to open your eyes 

🙄

Edited by NB GIN
Typi
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5 hours ago, Bunny Munro said:

I think comments about 'sound financial footing' are taking into account money that the club can make outside of matchdays. Unfortunately that well has dried up also, so we're probably worse off than a lot of other clubs who don't have bar/venue hire etc 

 

But then income from other areas outside of matchdays are greatly enhanced by the performance of the team on the pitch and results.

 

When things are going well fans want to be going to events and spending money at Tynecastle but that drops off when the perfirmances and results are poor.

 

That is a fact and she should have been aware of and trying to remedy. Obviously nobody could foresee the current problems as they are quite unique.

 

Even if we had a decent cash reserve then no club can afford to continue to pay all staff full pay for the forseeable future when no money is coming in. As I understand it our wage bill currently is around 9 million per annum which equates to about £690k per month so it doesn't take long to mount up.

 

Many "smaller clubs" will not be as effected as us due to the fact that they are more used to surving on much smaller wage budgets and far lower gate receipts and hospitality income.

 

It is worrying times for most of the population and many of our players are much better placed than many to take a wage cut.

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gowestjambo
1 hour ago, J.T.F.Robertson said:

 

Didn't he actually hit it into the ground? Was donkeys ago but that's my recollection.

 

I have no idea why I can recall this with such clarity, perhaps it was just the first occasion when we fell short when within touching distance of a trophy. The ball came across from the right, and all he had to do was beat the Keeper. Instead of lashing the volley high into the net, he made a prodding motion which Ferguson saved at an easy height for a Goalkeeper. I have not forgiven him, and never will.

 

To make matters worse he seemed to take great delight in scoring against us once he signed for hibs......

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10 minutes ago, NB GIN said:

And just you continue to bury your head in the sand 

question for you .,., what other club has raised 9 million from fans in SPL and is in financial difficulties..., think you need to open your eyes 

🙄

What other club has been pull from the abyss of liquidation. Built a new Stand refurbished the rest of the stadium. Laid a new state of the art pitch. Settled it’s debts as required. And squandered some monies on duds (I’ll give you that). You need to take your blind fold off. 

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12 minutes ago, Footballfirst said:

Meeting of SPFL clubs to discuss the situation on Thursday

 

https://www.bbc.co.uk/sport/football/51943346

With us threatening legal action over us being relegated with 8 games to play, Budge in the press a day later saying we have all ready lost a million just with the games being suspended etc and then today’s action, I reckon tomorrow we will hear that the league is to be called as it stands. There is too much noise around the league being called as it stands for it just to be rumours IMO. I really hope I am wrong. 

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East Lothian Jambo
1 hour ago, indianajones said:

Other clubs fans laughing at us. 

 

Truth is we are in probably better shape than they are to deal with this pish. Their owners will be following our statements shortly. 

Many clubs will be far worse than us 

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5 minutes ago, Dannie Boy said:

What other club has been pull from the abyss of liquidation. Built a new Stand refurbished the rest of the stadium. Laid a new state of the art pitch. Settled it’s debts as required. And squandered some monies on duds (I’ll give you that). You need to take your blind fold off. 

Ok you are right ..... thanks Anne and Craig you are doing great dannie boy thinks so 

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East Lothian Jambo
27 minutes ago, Dannie Boy said:

What other club has been pull from the abyss of liquidation. Built a new Stand refurbished the rest of the stadium. Laid a new state of the art pitch. Settled it’s debts as required. And squandered some monies on duds (I’ll give you that). You need to take your blind fold off. 

....... and took us back to Championship again 

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1 hour ago, indianajones said:

Other clubs fans laughing at us. 

 

Truth is we are in probably better shape than they are to deal with this pish. Their owners will be following our statements shortly. 


yes 100%
others laughing and taking the pish but bottom line is this thing will wreck lives and clubs will undoubtedly go to the wall. Talk of a cure being 12-18 months away  is horrific stuff. 
businesses are in dire straights. Look at aviation, look at the hotel industry, taxis, bus tours , restaurants etc etc after only a couple of weeks.

people laughing are blind and foolish.  I’ve had texts from hibs mates saying told you so etc etc and It’s simply ignorance , tribal nonsense. 
this thing is brutal. It’s leaving nothing in its wake.

wage cuts will be the norm shortly for an awful lot of people like it or not. Otherwise it’s simply putting people out of work with little to no chance of getting another job in this climate.

terrible times indeed and unprecedented in modern times.

Zero income . Zero. But money to pay out means that we will be far from alone. 
FOH will (IMHO) have to divert funds very shortly. Some will have to cancel pledges due to personal circumstances 100% understandable. Others who are lucky to be in a steady financial position may well have to think about helping out more again.

stay safe everyone

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1 hour ago, indianajones said:

Other clubs fans laughing at us. 

 

Truth is we are in probably better shape than they are to deal with this pish. Their owners will be following our statements shortly. 

 

1 hour ago, It should have been ten said:


Exactly this.

 

1 hour ago, Barack said:

 

Hubris.

 

Some will come to learn that word, once reality for their clubs sets in. Which it will.

 

50 minutes ago, jamboinglasgow said:

 

I agree, as we are the first to do something everyone is going mock us and make a huge deal of it but I fear that we the start of a large number of announcements from teams, some a lot worse for their clubs.

 

28 minutes ago, East Lothian Jambo said:

Many clubs will be far worse than us 

 

4 minutes ago, 1971fozzy said:


yes 100%
others laughing and taking the pish but bottom line is this thing will wreck lives and clubs will undoubtedly go to the wall. Talk of a cure being 12-18 months away  is horrific stuff. 
businesses are in dire straights. Look at aviation, look at the hotel industry, taxis, bus tours , restaurants etc etc after only a couple of weeks.

people laughing are blind and foolish.  I’ve had texts from hibs mates saying told you so etc etc and It’s simply ignorance , tribal nonsense. 
this thing is brutal. It’s leaving nothing in its wake.

wage cuts will be the norm shortly for an awful lot of people like it or not. Otherwise it’s simply putting people out of work with little to no chance of getting another job in this climate.

terrible times indeed and unprecedented in modern times.

Zero income . Zero. But money to pay out means that we will be far from alone. 
FOH will (IMHO) have to divert funds very shortly. Some will have to cancel pledges due to personal circumstances 100% understandable. Others who are lucky to be in a steady financial position may well have to think about helping out more again.

stay safe everyone

 

Take a bow, lads. 👏👍

 

This thread certainly separates the wheat from the chaff (arseholes and Hibs scum). 

 

 

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3 hours ago, Seymour M Hersh said:

 

 

th.jpeg

 

3 hours ago, McCrae said:


It’s called calling it right, and doing it early. Our club has very limited funds, even before the current problems. The cash control of our club has been just awful under Budge. We simply cannot afford to spend £150k a year  on a project that has no chance of making any money for years.

^^^accurate and unfortunately very near sighted. Useful at mo but long term 🙈🙈🙈 all done to death you are opinionated on it no matter whether it is explained the world is changing or not. 
 

Will Hibs fans be saying oh **** we spent x amount on womens football when they have to cut their cloth for the zero income they have until god knows when?

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7 minutes ago, martoon said:

 

 

 

 

 

 

Take a bow, lads. 👏👍

 

This thread certainly separates the wheat from the chaff (arseholes and Hibs scum). 

 

 

Second every thing you said there 👍🏻

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Geoff Kilpatrick
39 minutes ago, NB GIN said:

Ok you are right ..... thanks Anne and Craig you are doing great dannie boy thinks so 

As I said, there are many things to criticise Ann Budge for. This is not one of them.

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2 minutes ago, Geoff Kilpatrick said:

As I said, there are many things to criticise Ann Budge for. This is not one of them.

Well said Geoff 👍🏻

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2 hours ago, Toxteth O'Grady said:

Queen Ann has presided over an absolute shitstorm.

 

This all feels like an admission of failure and a cheapskate way to get rid of all the shite players we've accumulated in a similar way to Motherwell in 2002.

There are many things to stick the boot in to Ann over. I'm hurting like every other Jambo on that front. I made a controversial post on the 'should we be relegated' thread that got me a fair amount of abuse but which I stand by. 

 

But on this particular issue, I don't think the anger at her is warranted. 

 

Ask yourself this, if CL had done better, or if DS had got us right back up the table, would the anger at this announcement be as profound as it is? I genuinely think not

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Not had a lot of time or respect for Ann Budge the football chairperson over recent months.

 

Ann Budge the business woman on the other hand has played a blinder this week.

 

We're in a far healthier position than the majority of our competitors. I'd include the vermin who appear to be taking great glee from our latest statement in that group.

 

As President Obama rightly pointed out earlier in the thread, the hubris will be glorious.

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15 minutes ago, trotter said:

There are many things to stick the boot in to Ann over. I'm hurting like every other Jambo on that front. I made a controversial post on the 'should we be relegated' thread that got me a fair amount of abuse but which I stand by. 

 

But on this particular issue, I don't think the anger at her is warranted. 

 

Ask yourself this, if CL had done better, or if DS had got us right back up the table, would the anger at this announcement be as profound as it is? I genuinely think not


your right and of course wether we are 5th or 12th we would be in this same position.

 

to the uneducated out there (not you) we mostly all borrow money. That is In the main mortgages for our house based on what we earn. It’s all usually ok to pay these back on a monthly basis but when an unprecedented situation like this comes up then the ability to pay our mortgages back takes a serious hit if we no longer have any income. 
hearts , like other clubs could normally pay their staff and overheads with income coming in. Like we could pay our mortgages and other bills.

thats stopped due to a situation that could never have been predicted.
A situation well out of Ann Budges hands , and certainly Leveins.

blaming her and him is just blind bizarre.

watch what unfolds over the next few days. Unless major investment is made Rangers will follow.

other clubs with no chance of investment will make similar announcements (at best) imminently 

 

 

Edited by 1971fozzy
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We’re actually lucky Ann is still around. If she’d handed over the reigns a few months ago, this could have been a complete disaster.

Edited by Satchmo
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2 hours ago, 1971fozzy said:


yes 100%
others laughing and taking the pish but bottom line is this thing will wreck lives and clubs will undoubtedly go to the wall. Talk of a cure being 12-18 months away  is horrific stuff. 
businesses are in dire straights. Look at aviation, look at the hotel industry, taxis, bus tours , restaurants etc etc after only a couple of weeks.

people laughing are blind and foolish.  I’ve had texts from hibs mates saying told you so etc etc and It’s simply ignorance , tribal nonsense. 
this thing is brutal. It’s leaving nothing in its wake.

wage cuts will be the norm shortly for an awful lot of people like it or not. Otherwise it’s simply putting people out of work with little to no chance of getting another job in this climate.

terrible times indeed and unprecedented in modern times.

Zero income . Zero. But money to pay out means that we will be far from alone. 
FOH will (IMHO) have to divert funds very shortly. Some will have to cancel pledges due to personal circumstances 100% understandable. Others who are lucky to be in a steady financial position may well have to think about helping out more again.

stay safe everyone

We'll said (unfortunately)

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Geoff Kilpatrick
37 minutes ago, Satchmo said:

We’re actually lucky Ann is still around. If she’d handed over the reigns a few months ago, this could have been a complete disaster.

Why precisely? She's not underwriting anything, she's just spelling out the current reality.

 

A good comparator is the Aussie Rules season, which is starting tonight here to empty stadia. It is likely that even playing the season as is will cost the whole league $0.5Bn AUD, which means a lot of teams could go bust. And that's coming from the CEO of Collingwood, the biggest team. Sport in general, not just Heart of Midlothian, is goosed at present.

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What I can't get my head around is why are we first with this measure?  Surely dozens of clubs like East Fife are far more vulnerable than us.

 

I'm hoping hindsight will prove it was an inspired preumptive move.

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4 hours ago, Dannie Boy said:

What other club has been pull from the abyss of liquidation. Built a new Stand refurbished the rest of the stadium. Laid a new state of the art pitch. Settled it’s debts as required. And squandered some monies on duds (I’ll give you that). You need to take your blind fold off. 

 

 

Squandered millions on a stand and pitch you mean surely. Throw in the squandering of millions on duds to represent us, job creation and vanity projects.

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A_A wehatethehibs

All revenue has been cut off instantaneously. That’s what you call a body blow to anyone.


Hearts are taking the lead by acting. But in football and in business a LOT of folk are about to go bust and can’t pay the bills, if you didn’t realise the scale of the economic crisis, you do now 
 

 

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Geoff Kilpatrick
16 minutes ago, i8hibsh said:

 

 

Squandered millions on a stand and pitch you mean surely. Throw in the squandering of millions on duds to represent us, job creation and vanity projects.

Do you think those millions would have been lying doing nothing in a bank account? If so, you would have been giving her abuse for not spending it on players. That's the point here - it's cash flow and it has been cut off in an instant.

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Jamstomorrow
9 hours ago, Vlad Magic said:

So NOW people are worried about the clubs finances? What about the extra revenue the club has brought in “out with the footy season”????

 

I thought she was an “old boot”

 

”daft old hag”

”baboon faced arse”

 

And other completely unmentionable insults.

 

Suddenly that concert that brought in extra cash but ruined the grass for all of 3 weeks actually was a brilliant idea?

 

The revenue streams that have flooded in on the back of her tenacity and business acumen forgotten about?

 

The main stand that needed sorting and has been and will repay itself many many times over.

 

Nah she’s just an old boot who hasn’t a clue what she’s doing right?

 

Quite simply we would be in far worse places than we find ourselves now without her, her business knowledge and her contacts.

 

 

 

 

 

 

Correct!  Well said Sir/Madam/person of indeterminate sex . . . .   can't be too careful nowadays! :)

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Jamstomorrow
9 hours ago, Vlad Magic said:


Better to keep quite and let people think you are stupid than opening your mouth and proving it.

Another classic reply.  Should be adhered to by quite a few on  here.

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Jamstomorrow
9 hours ago, Vlad Magic said:


Just have a look back. Read through what you said.

 

Go to a mirror.

 

Look in it and say to yourself.

 

”I am thick”

Vlad . . .  You are on fire!

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2 hours ago, Geoff Kilpatrick said:

Why precisely? She's not underwriting anything, she's just spelling out the current reality.

 

A good comparator is the Aussie Rules season, which is starting tonight here to empty stadia. It is likely that even playing the season as is will cost the whole league $0.5Bn AUD, which means a lot of teams could go bust. And that's coming from the CEO of Collingwood, the biggest team. Sport in general, not just Heart of Midlothian, is goosed at present.

 

I just think having Ann as our figure head is more beneficial than if it was FOH running the show right now.

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shaun.lawson

The correct, responsible move by Ann Budge. Almost every other club will follow suit in no time. No business can maintain high fixed costs without income.

 

Beyond that, this thread has perfectly helped distinguish 

 

- The Hibs trolls

 

- The Budge haters

 

- The breathtakingly economically and numerically illiterate: all of whom, I'm sure, will be just fine without income for at least several months, and probably closer to a year

 

- Some others. To whom, kudos. :thumbsup: 

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Jamstomorrow
9 hours ago, Prof said:

I take it you were looking into a mirror when you wrote that drivel.

The full quote, attributed to Abraham Lincoln is - "Better to remain silent and be thought a fool than to speak and remove all doubt.  Better to keep you mouth shut and appear stupid."

 

Perhaps you should pay it some cognisance?

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alicante jambo

We have to do something. No way can we or any other team in scotland just sit back and pay full wages for months and get nothing back in. For sure there will be a lot more clubs coming out in the press in the next few weeks saying the same. 

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Jamstomorrow
9 hours ago, Prof said:

New definition of success seems to be buying Hearts for £2.5 m. , collecting FOH money amounting to £8.2 million and expecting to stay on as CEO. Some people might call it a scam.

Are YOU calling it a scam?

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25 minutes ago, Geoff Kilpatrick said:

Do you think those millions would have been lying doing nothing in a bank account? If so, you would have been giving her abuse for not spending it on players. That's the point here - it's cash flow and it has been cut off in an instant.

 

 

The amount of money she has squandered is that of the Vlad era. The job creation one is important to mention right now. So many people on our payroll that do luxury jobs. It is crippling us. Loan managers, under 16 girls kit man (or some pish) etc etc. It is bad enough we need to pay diabolical signings like Loic Damour for the next 40 months.

 

A state of the art pitch to the tune of £1.5 million that now costs us more than our last one to maintain and is the poorest in the league. All because of her Ann Budge Foundation decision to host a free concert even though the pitch had not really settled yet. It could not take the strain. 

 

Then there is the unfinished stand that was 100% OVER budget. We still have the mass failures who caused this mess withdrawing salaries from us ffs.

 

Her '5 year project' is clear to see. Our Hibs loving owner has crippled us. Most never called it early on (I did) but most see it now.

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Do people not understand basic arithmetic or something? 

 

Our outgoings on staff must be 200k per week at the lowest estimate. We've got about 40 playing staff on an average of 2k a week, so 80k alone. 

 

Then you've got Utilities, repair & maintenance, the Stand, food and drink orders etc... Let's say our expenditure is £350k p/w

 

Then you've got months worth of stock which will need thrown out. I. E. Food and drink... Etc.. 

 

Our current income is very little. Whatever the shop makes a week plus maybe some money due to us. A trickle at best. 

 

No income in 8 weeks, we're probably talking £2,800,000 in losses. 

 

Add a potential relegation into the mix, our revenue could be down as much as £4million. 

 

That's us with no debt or creditors. What are the rest of the clubs finances like? 

 

Rangers must be absolutely haemmoraging money. St Johnstone are already toiling. 

 

It doesn't look good at all. 

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Geoff Kilpatrick
7 minutes ago, i8hibsh said:

 

 

The amount of money she has squandered is that of the Vlad era. The job creation one is important to mention right now. So many people on our payroll that do luxury jobs. It is crippling us. Loan managers, under 16 girls kit man (or some pish) etc etc. It is bad enough we need to pay diabolical signings like Loic Damour for the next 40 months.

 

A state of the art pitch to the tune of £1.5 million that now costs us more than our last one to maintain and is the poorest in the league. All because of her Ann Budge Foundation decision to host a free concert even though the pitch had not really settled yet. It could not take the strain. 

 

Then there is the unfinished stand that was 100% OVER budget. We still have the mass failures who caused this mess withdrawing salaries from us ffs.

 

Her '5 year project' is clear to see. Our Hibs loving owner has crippled us. Most never called it early on (I did) but most see it now.

Whoosh! There is actually no point in discussing this with you. If we hadn't have spent on those things we would still be in this situation now. Maybe that is too hard for you to comprehend.

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19 minutes ago, Geoff Kilpatrick said:

Whoosh! There is actually no point in discussing this with you. If we hadn't have spent on those things we would still be in this situation now. Maybe that is too hard for you to comprehend.

 

 

Due to her severe disregard for HMFC as a football CLUB it has resulted in each year finishing lower in the league than the previous year then subsequently reducing the budget accordingly. Her entire business plan (hospitality) can mainly be realised on matchdays but with such an underperforming team matchdays have almost completely lost all appeal. We are ****ed. She has destroyed us. We have lost our stadium and soul and we are about to be right back to where we began with her. At least there were good times under Vlad. Queen Ann has provided misery, pretty much every week.

 

Hamilton and St Mirren will budget for a relegation battle but we were just not prepared for this. Paying the wages of Aberdeen for the results and performances of Hamilton and this is the result. Infact Hamilton have better results than us.

Edited by i8hibsh
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Geoff Kilpatrick
12 minutes ago, i8hibsh said:

 

 

Due to her severe disregard for HMFC as a football CLUB it has resulted in each year finishing lower in the league than the previous year then subsequently reducing the budget accordingly. Her entire business plan (hospitality) can mainly be realised on matchdays but with such an underperforming team matchdays have almost completely lost all appeal. We are ****ed. She has destroyed us. We have lost our stadium and soul and we are about to be right back to where we began with her. At least there were good times under Vlad. Queen Ann has provided misery, pretty much every week.

 

Hamilton and St Mirren will budget for a relegation battle but we were just not prepared for this. Paying the wages of Aberdeen for the results and performances of Hamilton and this is the result. Infact Hamilton have better results than us.

Bollocks! If we were sitting at the top end of the table WE WOULD STILL BE FACING THIS SITUATION! EVERY CLUB IS IN THE SAME BLOODY BOAT!

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9 minutes ago, Geoff Kilpatrick said:

Bollocks! If we were sitting at the top end of the table WE WOULD STILL BE FACING THIS SITUATION! EVERY CLUB IS IN THE SAME BLOODY BOAT!

Exactly! 

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Jamstomorrow
56 minutes ago, i8hibsh said:

 

 

The amount of money she has squandered is that of the Vlad era. The job creation one is important to mention right now. So many people on our payroll that do luxury jobs. It is crippling us. Loan managers, under 16 girls kit man (or some pish) etc etc. It is bad enough we need to pay diabolical signings like Loic Damour for the next 40 months.

 

A state of the art pitch to the tune of £1.5 million that now costs us more than our last one to maintain and is the poorest in the league. All because of her Ann Budge Foundation decision to host a free concert even though the pitch had not really settled yet. It could not take the strain. 

 

Then there is the unfinished stand that was 100% OVER budget. We still have the mass failures who caused this mess withdrawing salaries from us ffs.

 

Her '5 year project' is clear to see. Our Hibs loving owner has crippled us. Most never called it early on (I did) but most see it now.

This coming from the person who states that he (!) does not attend games at Tynecastle.  Ergo, you contribute nowt financially to HMFC as I see it.  Just another troll in my opinion and an misogynistic troll at that.

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We are in very serious unprecedented times. Won't be long before other clubs will be forced into the same action as ourselves. 

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19 minutes ago, Geoff Kilpatrick said:

Bollocks! If we were sitting at the top end of the table WE WOULD STILL BE FACING THIS SITUATION! EVERY CLUB IS IN THE SAME BLOODY BOAT!


 

Why waste your time relying ? He isn’t interested in facts or the extraordinary Financial circumstances the whole of professional football around the world is facing. If there was a good old football MAN in charge of the club we wouldn’t be in this position is the only thing he can discuss. Utter bore of a man. 

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6 minutes ago, Geoff Kilpatrick said:

Bollocks! If we were sitting at the top end of the table WE WOULD STILL BE FACING THIS SITUATION! EVERY CLUB IS IN THE SAME BLOODY BOAT!

This is no time to be pointing Fingers as no one knows the ultimate reality of the financial situation with football clubs in Scotland and when it will end - more to the point 

 

I have my criticisms of AB but just because she is first off the Mark with cost cuts it would be extremely naive to think that she will be the last 

 

Scottish Football is reliant on matchdays/hospitality/ prize money and sponsorship - we get next to no TV money or income in comparative terms with other leagues 

 

if this is about making sure our club is sustainable once we come out of this then that’s what we have to do 

 

It shouldn’t be about point scoring or pin pointing blame. It’s a completely unprecedented situation and this is just the beginning. 

 

If criticism comes to us from other clubs/support for taking these measures then these same folk will be doing nothing other than making noise and potentially throwing stones and within their own glass houses 

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It should have been ten
7 hours ago, Toxteth O'Grady said:

Tell me how it isn't


Nah, waste of time 

 

7 hours ago, Barack said:

 

Hubris.

 

Some will come to learn that word, once reality for their clubs sets in. Which it will.


:thumbsup:

 

5 hours ago, martoon said:

 

 

 

 

 

 

Take a bow, lads. 👏👍

 

This thread certainly separates the wheat from the chaff (arseholes and Hibs scum). 

 

 

 

:thumbsup:

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