Bunny Munro Posted March 18 Some of the rags are reporting all full time staff have been asked to take a 50% wage cut. Quote Share this post Link to post Share on other sites
Barack Posted March 18 Admin mark 2 will make it easier for the Spfl to make a decision. If we are doing this. What position are other's in too...? Some must be worse. Quote Share this post Link to post Share on other sites
Stendelsarmy Posted March 18 Step up the mystery benefactor Quote Share this post Link to post Share on other sites
Back to 2005 Posted March 18 I'm sorry but I thought we were on a sound financial footing. Appreciate this was unforeseen but we haven't even missed a home game yet! Quote Share this post Link to post Share on other sites
Stendelnator Posted March 18 So much for Budge being a shrewd and canny businesswoman. Taking us into administration quicker than Romanov did. Quote Share this post Link to post Share on other sites
robbo1874 Posted March 18 Don't know if it's us just taking a sensible approach or if it's a bit worrying. We can't be the only ones with cash flow problems surely Quote Share this post Link to post Share on other sites
Politbordeaux Posted March 18 Just now, Stendelsarmy said: Step up the mystery benefactor Step up all the Hearts fans who don't donate to FOH and divert funds to help the club. Quote Share this post Link to post Share on other sites
i8hibsh Posted March 18 Now she is worried about lost revenue. Perhaps if she was watching our steep decline in our team the past 4 years she would already be awake to this. Quote Share this post Link to post Share on other sites
Disco Dave Posted March 18 2 minutes ago, Stendelnator said: So much for Budge being a shrewd and canny businesswoman. Taking us into administration quicker than Romanov did. You surely cant blame her for not financially planning for Covid19? Quote Share this post Link to post Share on other sites
Bunny Munro Posted March 18 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 Quote Share this post Link to post Share on other sites
Famous 1874 Posted March 18 If only we didn’t overspent on the new stand by about 12 million Quote Share this post Link to post Share on other sites
gowestjambo Posted March 18 It is being suggest Manager and Players are being asked to take a 50% pay cut. They would still be vastly overpaid for what they have served up this season. Quote Share this post Link to post Share on other sites
Gordon Ramsay Posted March 18 Seems like she's crap at the business side as well. Quote Share this post Link to post Share on other sites
Stendelsarmy Posted March 18 Wonder how much Levein is on Quote Share this post Link to post Share on other sites
robbo1874 Posted March 18 https://www.heartsfc.co.uk/news/article/club-statement-1-2-3-4-5-6 Quote Share this post Link to post Share on other sites
Jamie86 Posted March 18 I'm surprised that they had to be asked. Surely some of the higher earners could have got together and came to a decision about this. Yea they might not be on hundreds of thousands a week but I'm sure someone of 5k could survive dropping to 3k a week. And let's not turn this into a "some business woman she is". Every club will be feeling the strain from no income for months on end whilst still having overheads to pay. No one saw this coming and we won't be the first club to do this Quote Share this post Link to post Share on other sites
Baxfee Posted March 18 Arseholes on this thread. Quote Share this post Link to post Share on other sites
Sertse Posted March 18 https://www.heartsfc.co.uk/news/article/club-statement-1-2-3-4-5-6 Guess we'll see who actually cares for the club and who's after their pay packet! Quote Share this post Link to post Share on other sites
Barack Posted March 18 https://www.heartsfc.co.uk/news/article/club-statement-1-2-3-4-5-6 Quote Share this post Link to post Share on other sites
the_jailer Posted March 18 6 minutes ago, Famous 1874 said: If only we didn’t overspent on the new stand by about 12 million Maybe her brother could give us back a couple of million Quote Share this post Link to post Share on other sites
busby1985 Posted March 18 I did say we should stop laughing at possible points deductions for clubs going into admin. I was told to I was over thinking it. We seem to be in big trouble. Quote Share this post Link to post Share on other sites
CloustonHMFC Posted March 18 Rather being in big trouble, the club are planning for a loss of revenue for a minimum of 4 months. That’s a lot of money. They’re just trying to make sure the club continues to be sustainable. Quote Share this post Link to post Share on other sites
Nobreath Posted March 18 First of many clubs I would imagine. Better sooner than later. Quote Share this post Link to post Share on other sites
Rick Sanchez Posted March 18 So all players are available to leave...watch them go. Quote Share this post Link to post Share on other sites
Boris5115 Posted March 18 Well if we are struggling and I'd be surprised if we are should Budge not carry the can in the short term and bale us out. Surely with her wealth it would not be a problem to her. Still paying that parasite Levein and his buddy Mcphee can't be helping the wage bill either. Yes we are living in uncertain times but it's not just Hearts that are hurting here. Quote Share this post Link to post Share on other sites
CloustonHMFC Posted March 18 Make no mistake, other clubs will follow suit, we’re just ahead of the curve. Quote Share this post Link to post Share on other sites
jamboinglasgow Posted March 18 Sounds like if we are having to take such drastic action while having some help from FoH money, then it could be very bad for other clubs who have no safety net. Quote Share this post Link to post Share on other sites
gashauskis9 Posted March 18 Other clubs will hit the wall before we do. I’d rather we went down this route than raiding FOH to be honest. Quote Share this post Link to post Share on other sites
1971fozzy Posted March 18 That statement is one a few clubs will no doubt follow with likewise. huge problems ahead. we need to divert FOH subs ASAP. Quote Share this post Link to post Share on other sites
Tiger Posted March 18 Maybe I missed it but I guess we aren't insured? Quote Share this post Link to post Share on other sites
Barack Posted March 18 Just now, CloustonHMFC said: Make no mistake, other clubs will follow suit, we’re just ahead of the curve. Other clubs will be in the shit, yes. However, shit that this has happened. Again. Quote Share this post Link to post Share on other sites
Suso Santana Posted March 18 Levein and MacPhee should be taking 100% wage cuts. Quote Share this post Link to post Share on other sites
BelgeJambo Posted March 18 2 minutes ago, Tiger said: Maybe I missed it but I guess we aren't insured? Sure I read in the last few days we are Quote Share this post Link to post Share on other sites
Kalamazoo Jambo Posted March 18 Absolutely brutal but I can't imagine we'll be the only club doing this. Desperate times for everyone not just in football. Quote Share this post Link to post Share on other sites
JamboCampbell Posted March 18 Some folk on here are absolute tools. Blaming Budge for Coronavirus is a new low! People do realise that half the Scottish clubs WILL go bust through this. Quote Share this post Link to post Share on other sites
Jambojamie91 Posted March 18 Massive mishandling of the club by budge. Everything is over budget, in what she’s been involved in. We were only in profit last year due to a benefactor. She’s overstayed her welcome Quote Share this post Link to post Share on other sites
Boris5115 Posted March 18 4 minutes ago, Rick Sanchez said: So all players are available to leave...watch them go. Good can't wait to see the back of most of them. Quote Share this post Link to post Share on other sites
Bunny Munro Posted March 18 2 minutes ago, Tiger said: Maybe I missed it but I guess we aren't insured? Not sure if we are able to claim yet or not. Other clubs responses will be telling. There was a rumour that one premiership club did not have insurance. Hope to god Anns not been that daft. Quote Share this post Link to post Share on other sites
jackal Posted March 18 I would be amazed if other clubs dont do this or offer bigger cuts. Im sure the players wont starve or go homeless but this is a situation that is affecting every business. It shows how much clubs rely on gate income and match day sales. Quote Share this post Link to post Share on other sites
jackal Posted March 18 1 minute ago, Jambojamie91 said: Massive mishandling of the club by budge. Everything is over budget, in what she’s been involved in. We were only in profit last year due to a benefactor. She’s overstayed her welcome A bit like you. Quote Share this post Link to post Share on other sites
Mikey1874 Posted March 18 (edited) Sorry state of affairs. Repeated everywhere in one way or another. Will be some casualties. Might be a need for SFA to implement some amnesty, special measures or something. Say a dozen clubs can't continue. Or its a big restructure with new clubs coming in. Edited March 18 by Mikey1874 Quote Share this post Link to post Share on other sites
Martin_T Posted March 18 It's simple, insolvency occurs when costs exceed income, not necessarily debt in itself. Hearts probably budget for season ticket income in late March/ early April. With uncertainty about income, the choice becomes either take out credit or reduce costs. The players have no where to go at the moment as no other club will recruit them as they are in the same circumstances. Quote Share this post Link to post Share on other sites
Bainy Posted March 18 its sensible business planning during a period of uncertainty to keep us on a sound footing. We will absolutely not be the only ones to take this action give how much clubs rely on math day revenue. I would imagine its squeaky bum time at Ibrox. Quote Share this post Link to post Share on other sites
...a bit disco Posted March 18 Some laughable comments on this thread. Hearts 'supporters' aye? Suppose it explains the poll on the relegation thread. Quote Share this post Link to post Share on other sites
tynietigers Posted March 18 Blame, blame & blame is this what we have come to 🙄 we are trying to get ahead of the game here 👍🏻 Let’s see how other club manage as I believe the Scottish game is going to crash 😬 we are trying to adjust and still be here 👊 Quote Share this post Link to post Share on other sites
Dean Winchester Posted March 18 3 minutes ago, Bunny Munro said: Not sure if we are able to claim yet or not. Other clubs responses will be telling. There was a rumour that one premiership club did not have insurance. Hope to god Anns not been that daft. It was confirmed in a BBC article the other day that we had it unless they have gotten that wrong. Quote Share this post Link to post Share on other sites
Suso Santana Posted March 18 (edited) The jobs for the boys will come back to haunt us. Feckin loans manager and an ambassador on the books ffs. Edited March 18 by Suso Santana Quote Share this post Link to post Share on other sites
alwaysthereinspirit Posted March 18 3 minutes ago, Jambojamie91 said: Massive mishandling of the club by budge. Everything is over budget, in what she’s been involved in. We were only in profit last year due to a benefactor. She’s overstayed her welcome Quote Share this post Link to post Share on other sites
jcjambo81 Posted March 18 (edited) This is why the season has to be null and void . we could be restarting with half the squad we had when it was suspended Edited March 18 by jcjambo81 Quote Share this post Link to post Share on other sites
