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

[qferryjam]

24 minutes ago, Sir Gio said:

So decent offer in the circumstances. 

 

Restaurant workers on zero hours contracts etc.

 

Not so fortunate 

So it’s no longer guess work , Hearts well within their rights , 50 % is a decent offer that any normal person would snap up 

 

if the alternative is £0 or SSP 

[Famous 1874]

Get the money back Budge’s brother got for the new stand and bobs your uncle job done 

[stirlo]

Of course it's true that many clubs will be having these sort of conversations and there is no way this virus situation could have been predicted. But it is concerning to say the least that after everything we've been through the cashflow situation is what it is. The wage bill is clearly significantly higher than it should be and prudent management should have left us sitting on a healthy cash reserve at this stage not needing to cut wages fairly urgently.

 

The management of the main stand project was a mess IMO. I said at the time that attempting to build it over a close-season with plans that were evidently incomplete was a folly. We'd have been far better spending the whole season at Murrayfield and getting the stand right.

We are where we are though and one can only hope that lessons will be learned. 

 

[Big Slim Stylee]

2 hours ago, Last Laff said:

Has Bryan Jackson said football clubs get away with mass termination of contracts without occurring a penalty aye?

 

What club is going tits up exactly? 
 

Al, name one football club that has terminated players contracts (unwillingly) that hasn’t been during an insolvency event that got away with it with no charge? Name just one. 

 

You know what? For a man who confidently predicted a few days ago that he didn't really foresee any mass job-losses across industries because of the current situation, I think I'll take your views on ANYTHING as utter mince-thickness 😀

[Jambo diehard]

Not sure ANYONE has a clear, coherent answer to all that's going on atm, I've been critical of Budge in the past but don't have an issue with her on this but the situation is unheralded, never happened before, has it? 

 

It will have to be, imo anyway, a suck it and see scenario, all this is but the tip of a f*cling huge iceberg that has a ways to go before any of us can claim any clarity. 

 

I love Hearts and fitba but this kinda transcends both them here? 

[East Lothian Jambo]

11 minutes ago, Famous 1874 said:

Get the money back Budge’s brother got for the new stand and bobs your uncle job done 

Whilst it possibly wasn't the smartest move to engage her brother to do work on a project which ran around £12M over budget, there is nothing to suggest the sums invoiced from JB Contracts were anything other than market prevailing 

[Last Laff]

11 minutes ago, Big Slim Stylee said:

 

You know what? For a man who confidently predicted a few days ago that he didn't really foresee any mass job-losses across industries because of the current situation, I think I'll take your views on ANYTHING as utter mince-thickness 😀

No probs.  Do as you wish.  You keep it classy while you do that lad.

[Maroonjam]

Let's imagine you own a well established and thriving restaurant. You employee 24 staff between chefs, waiters, bar staff and cleaners etc. 

You decide to refurbish and expand your restaurant due to the success. 

You have £100k in the bank and that's the price you have been quoted. So you invest £75k and borrow £25k. Leaving you £25k. Seems reasonable. 

You get the refurb done and are ready to open then boom corona virus hits and you have to shut doors indefinitely. 

Your income is zero, your food stock has to be written off and your only assets are the building and the booze that's still in date. 

You have 24 staff with circa £1k wages a month each. 

 

Tell me what do you do? 

 

1) nothing, take it a week at a time. 

2) try to borrow more money from the bank to cover your costs - rejected due to the fact you have zero income. 

3) send the staff home unpaid and cover the overheads with the £24k

4) slash the wages and maintain staff while they cannot work 

5) close your doors and sell up

6) make as many redundant other than the key staff 

 

I know what one is BEST for the company and what one is best for the employees. 

 

That's exactly where hearts are, it's not necessarily bad financial planning as you have some reserves, you borrowed wisely and you invested some of your own money, but you never expected it to be all required at once!!! 

 

Idiots on this place who don't understand how the real world ****ing works and football clubs are no different. 

[busby1985]

When are we expecting to hear about the meetings today? 

[jock _turd]

I think one of the factors with this virus related hiatus is that is totally unknown when football will actually recommence. I have to say that under the circumstances AB has done the right thing. She has rightly identified as situation that could be very damaging and has tried to bring about a correction in fiscal policy that meets it head on. I have just read a post that Ross County are to maintain their payments to staff... for how long? This could end up being a situation where no football is played for  three months maybe even longer do these clubs have a money printing machine? Even in a normal season when the game stops there is the back up of season ticket money coming in to offset the idle down time. It is a long term strategy which is going to be interesting to see just how it plays out but the guy at Ross Cnty must have either loads of spare dosh or perhaps a team that does not earn a lot of money? It is interesting to me at least that if I had to pick one point where AB has failed badly was her trust in CL. She backed him with so much dosh during his recruitment for this season it was criminal. Long term contracts for complete dross and a player, Naismith, that some thought was essential who is being shown to be weak in the extreme when we actually needed him.

Regardless of this though AB has done the right thing and it will be shown to have been the correct thing to do when football is back to normal.

[Suso Santana]

The sun basically saying that we're on the verge of administration again, 

Micheal Stewart in the evening news saying that Budge needs to take a big portion of the blame. 

[sac]

4 minutes ago, Maroonjam said:

Let's imagine you own a well established and thriving restaurant. You employee 24 staff between chefs, waiters, bar staff and cleaners etc. 

You decide to refurbish and expand your restaurant due to the success. 

You have £100k in the bank and that's the price you have been quoted. So you invest £75k and borrow £25k. Leaving you £25k. Seems reasonable. 

You get the refurb done and are ready to open then boom corona virus hits and you have to shut doors indefinitely. 

Your income is zero, your food stock has to be written off and your only assets are the building and the booze that's still in date. 

You have 24 staff with circa £1k wages a month each. 

 

Tell me what do you do? 

 

1) nothing, take it a week at a time. 

2) try to borrow more money from the bank to cover your costs - rejected due to the fact you have zero income. 

3) send the staff home unpaid and cover the overheads with the £24k

4) slash the wages and maintain staff while they cannot work 

5) close your doors and sell up

6) make as many redundant other than the key staff 

 

I know what one is BEST for the company and what one is best for the employees. 

 

That's exactly where hearts are, it's not necessarily bad financial planning as you have some reserves, you borrowed wisely and you invested some of your own money, but you never expected it to be all required at once!!! 

 

Idiots on this place who don't understand how the real world ****ing works and football clubs are no different. 

7. phone the chancellor & ask him to give me the name of someone who actually got some of the £330billion to help them through this crisis.

[East Lothian Jambo]

3 minutes ago, Suso Santana said:

The sun basically saying that we're on the verge of administration again, 

Micheal Stewart in the evening news saying that Budge needs to take a big portion of the blame. 

That sounds nonsense. Who would be the major Creditor in an Insolvency event 

 

Doesn't make any sense. We will be short of cash though 

[Maroonjam]

1 minute ago, sac said:

7. phone the chancellor & ask him to give me the name of someone who actually got some of the £330billion to help them through this crisis.

😂 So true 

[Morgan]

5 minutes ago, Suso Santana said:

The sun basically saying that we're on the verge of administration again, 

Micheal Stewart in the evening news saying that Budge needs to take a big portion of the blame. 

That'll definitely be kosher then.

[Dusk_Till_Dawn]

1 hour ago, Busby8 said:

 

....... is the correct answer.

 

 

And a lot of them might well do.

[Cruyff]

1 minute ago, busby1985 said:

When are we expecting to hear about the meetings today? 

Tell you what mate, any player that has his contract ripped up and precedes to join another Scottish club, should be abused relentlessly. 

[Suso Santana]

3 minutes ago, Morgan said:

That'll definitely be kosher then.

 

I think the sun are making it out to be more than it us but Stewart isn't often wrong about the goings on at Hearts. 

[The Real Maroonblood]

12 minutes ago, Suso Santana said:

The sun basically saying that we're on the verge of administration again, 

Micheal Stewart in the evening news saying that Budge needs to take a big portion of the blame. 

[Morgan]

3 minutes ago, Cruyff said:

Tell you what mate, any player that has his contract ripped up and precedes to join another Scottish club, should be abused relentlessly. 

 

 

 

Just now, The Real Maroonblood said:

 

Or

[OldGorgie]

14 minutes ago, Suso Santana said:

The sun basically saying that we're on the verge of administration again, 

Micheal Stewart in the evening news saying that Budge needs to take a big portion of the blame. 

Unbelievable that we are back in this situation. I8 has come in for a lot of criticism from the AB/CL lovers but he’s been proved right with his doubts about Budge.

[DETTY29]

19 minutes ago, busby1985 said:

When are we expecting to hear about the meetings today? 

Snippets press but options to be worked through following mist recent government white paper however,

 

Clubs prefer season to end as is if it means money can be paid out.

 

Many want restructure.

 

Celtic happy to end season on condition title is awarded.

 

At a guess.

[Don Dan]

24 minutes ago, Maroonjam said:

Let's imagine you own a well established and thriving restaurant. You employee 24 staff between chefs, waiters, bar staff and cleaners etc. 

You decide to refurbish and expand your restaurant due to the success. 

You have £100k in the bank and that's the price you have been quoted. So you invest £75k and borrow £25k. Leaving you £25k. Seems reasonable. 

You get the refurb done and are ready to open then boom corona virus hits and you have to shut doors indefinitely. 

Your income is zero, your food stock has to be written off and your only assets are the building and the booze that's still in date. 

You have 24 staff with circa £1k wages a month each. 

 

Tell me what do you do? 

 

1) nothing, take it a week at a time. 

2) try to borrow more money from the bank to cover your costs - rejected due to the fact you have zero income. 

3) send the staff home unpaid and cover the overheads with the £24k

4) slash the wages and maintain staff while they cannot work 

5) close your doors and sell up

6) make as many redundant other than the key staff 

 

I know what one is BEST for the company and what one is best for the employees. 

 

That's exactly where hearts are, it's not necessarily bad financial planning as you have some reserves, you borrowed wisely and you invested some of your own money, but you never expected it to be all required at once!!! 

 

Idiots on this place who don't understand how the real world ****ing works and football clubs are no different. 

 

Excellent post.

[jock _turd]

1 minute ago, Suso Santana said:

 

I think the sun are making it out to be more than it us but Stewart isn't often wrong about the goings on at Hearts. 

 

In what way does he know what is going on at Hearts? Players ... inside the board room ... banking details ... outstanding debts come on let us know what MS knows about what makes the financial side of Hearts tick... I bet you he knows the square root of F all. It is easy to be on the outside casting your thoughts... he gets paid for expelling this shite! 

[jock _turd]

1 minute ago, OldGorgie said:

Unbelievable that we are back in this situation. I8 has come in for a lot of criticism from the AB/CL lovers but he’s been proved right with his doubts about Budge.

 

Has he indeed... based on what exactly?

[Suso Santana]

4 minutes ago, jock _turd said:

 

In what way does he know what is going on at Hearts? Players ... inside the board room ... banking details ... outstanding debts come on let us know what MS knows about what makes the financial side of Hearts tick... I bet you he knows the square root of F all. It is easy to be on the outside casting your thoughts... he gets paid for expelling this shite! 

 

Levein...

 

It doesn't take a rocket scientist to know that he has spent a shit load of money on tripe.

 

Budge's new stand doubling in cost and our new pitch that is now a state..

Edited March 19, 2020 by Suso Santana

[...a bit disco]

27 minutes ago, busby1985 said:

When are we expecting to hear about the meetings today? 

 

Probably waiting until the news is finished for less coverage.

 

The Rangers way.

[jackal]

Hearts players and others across Scotland are seeking legal advice over a contract clause which states their wages could be suspended immediately.

The Tynecastle Park squad are concerned that the club could stop paying them altogether after being asked to take a 50 per cent cut because of the coronavirus impact.

Football in Scotland is suspended indefinitely due to the global pandemic and players are now worried about small print in their agreements.

 

Some members of the Hearts squad have contacted lawyers and PFA Scotland for advice on the matter, with others at fellow clubs now doing likewise.

 

So does this mean AB could have stopped wages altogether but instead offered a 50% deal to make sure players and staff still have some money coming in?

[busby1985]

5 minutes ago, DETTY29 said:

Snippets press but options to be worked through following mist recent government white paper however,

 

Clubs prefer season to end as is if it means money can be paid out.

 

Many want restructure.

 

Celtic happy to end season on condition title is awarded.

 

At a guess.

Clubs will have to vote on reconstruction I’d imagine? 
 

The sun story about admin will no doubt be coming from things Budge may have been hinting at during the meetings. 

[Jean Louis Valois]

Looks like we have given everyone a laugh at our expense once again during these horrible times. Budge's last few years have been an absolute disaster. If the season does finish I'm sure the players will be dying to help the club avoid relegation, aye right. No one ever expected something like this happening but it seems like we have made a pigs ear of yet another situation.

[jock _turd]

Just now, Suso Santana said:

 

Levein...

 

F'n hilarious so MS knows Hearts are in financial difficultly because of  Levein... can you expand for us please.

[Suso Santana]

Just now, jock _turd said:

 

F'n hilarious so MS knows Hearts are in financial difficultly because of  Levein... can you expand for us please.

 

I edited my post. 

[Suso Santana]

Some maroon blinkers on again tonight i see. 

You just need to look at Maulary Martin's contract to see that that things have been wrong for a long long time. 

[Nookie Bear]

33 minutes ago, Maroonjam said:

Let's imagine you own a well established and thriving restaurant. You employee 24 staff between chefs, waiters, bar staff and cleaners etc. 

You decide to refurbish and expand your restaurant due to the success. 

You have £100k in the bank and that's the price you have been quoted. So you invest £75k and borrow £25k. Leaving you £25k. Seems reasonable. 

You get the refurb done and are ready to open then boom corona virus hits and you have to shut doors indefinitely. 

Your income is zero, your food stock has to be written off and your only assets are the building and the booze that's still in date. 

You have 24 staff with circa £1k wages a month each. 

 

Tell me what do you do? 

 

1) nothing, take it a week at a time. 

2) try to borrow more money from the bank to cover your costs - rejected due to the fact you have zero income. 

3) send the staff home unpaid and cover the overheads with the £24k

4) slash the wages and maintain staff while they cannot work 

5) close your doors and sell up

6) make as many redundant other than the key staff 

 

I know what one is BEST for the company and what one is best for the employees. 

 

That's exactly where hearts are, it's not necessarily bad financial planning as you have some reserves, you borrowed wisely and you invested some of your own money, but you never expected it to be all required at once!!! 

 

Idiots on this place who don't understand how the real world ****ing works and football clubs are no different. 

We all get that but the difference is that, if business picks up, you’ll be able to recruit new staff fairly easily as the jobs market has more of a pool for the kind of person you need. 
 

Are we not running the risk of losing players who have a value of many hundreds of thousands and, in Hickeys case, millions?
 

That’s the problem here, for me. It’s not the actions of Budge that are the issue, it’s the medium and long term consequences. And let’s not forget we still have 8 games to play and we can’t have our squad decimated before then. 

[Des Lynam]

Interesting article.....

 

https://www.skysports.com/football/news/11790/9308779/hearts-owner-ann-budge-insists-the-days-of-reckless-spending-are-over-at-tynecastle

 

Obviously we didn’t budget for a global pandemic but the fact we’ve clearly allowed the wages to get out of control again is a worry. 

[jock _turd]

3 minutes ago, Suso Santana said:

 

Levein...

 

It doesn't take a rocket scientist to know that he has spent a shit load of money on tripe.

 

Budge's new stand doubling in cost and our new pitch that is now a state..

 

Honestly.. the pitch is a state... that is adding to our financial woes ??? What a crock of shite. The players being crap I will give you but that is not why we are at this point ... it is a national emergency ... people are dying ... businesses closing.  I livew in France you cannot go out on the street unless you have a good reason the fine for being out and not having a good reason is€135 !!! Now the stand seems to be your crutch... do we own anybody for that ? 

[Suso Santana]

Just now, jock _turd said:

 

Honestly.. the pitch is a state... that is adding to our financial woes ??? What a crock of shite. The players being crap I will give you but that is not why we are at this point ... it is a national emergency ... people are dying ... businesses closing.  I livew in France you cannot go out on the street unless you have a good reason the fine for being out and not having a good reason is€135 !!! Now the stand seems to be your crutch... do we own anybody for that ? 

 

You live in France? That's maybe why you've not felt the full effects of the 5 year plan. 

[The Real Maroonblood]

8 minutes ago, Suso Santana said:

 

I edited my post. 

You should edit yourself.

Full of pish.

 

[Suso Santana]

1 minute ago, The Real Maroonblood said:

You should edit yourself.

Full of pish.

 

 

How good would that be?

I'd change my face to Brad Pitt's.

[Geoff Kilpatrick]

13 minutes ago, Suso Santana said:

Some maroon blinkers on again tonight i see. 

You just need to look at Maulary Martin's contract to see that that things have been wrong for a long long time. 

This is not about past waste. This is about the lack of current income.

 

You can blame Budge and Levein all you like for past feck ups but even if they had not existed we would still be in this situation now.

[Riccarton3]

1 minute ago, Suso Santana said:

 

You live in France? That's maybe why you've not felt the full effects of the 5 year plan. 

You shouldn't get so exercised. You know what the Hearts are like. They always get jammy somehow. Remember administration and the unhelpfulness of our neighbours across the city. Good effort it was but ultimately  fruitless.

 

We mess things up but generally come out the other side. It's the way it is. But frustratingly underachieving as always.

[Maple Leaf]

1 hour ago, the_jailer said:

Ross County have written to their players today to guarantee contracts will be honoured in full throughout Coronavirus crisis

 

That's a very impressive guarantee considering that no-one knows how long the crisis will last.

[jock _turd]

1 minute ago, Des Lynam said:

Interesting article.....

 

https://www.skysports.com/football/news/11790/9308779/hearts-owner-ann-budge-insists-the-days-of-reckless-spending-are-over-at-tynecastle

 

Obviously we didn’t budget for a global pandemic but the fact we’ve clearly allowed the wages to get out of control again is a worry. 

 

I am making some number of  posts... but out of belligerence... have we allowed wages to get out of control? Or has our CEO rightly identified a problem that needs to be nipped in the bud if we are not to lose a shed load of money  and endanger the club. There are two sides to any coin the other clubs in the SPL have not done anything yet... is that because they are behind the curve and are not fully aware of the consequences of the suspension of football ... or have they just decided to ignore the situation and hope it goes away... planet earth calling... it is going to be a long time before this problem goes away. There is not a CEO in the entire British football community who is not shitting themselves over this set back not one... but because our CEO has immediately taken steps to minimise the  possible effects of it, it is news worthy and makes great copy for mainly certain elements of the media to have a go at.

[Suso Santana]

1 minute ago, Geoff Kilpatrick said:

This is not about past waste. This is about the lack of current income.

 

You can blame Budge and Levein all you like for past feck ups but even if they had not existed we would still be in this situation now.

 

We'd have a hell of a lot more money in the bank right now if it wasn't for all the **** ups, I don't think my point is irrelevant. 

We'd also not be sitting bottom of the league if our manager wasn't a complete donkey and therefore relegation would not be a debate right now. 

[Big Slim Stylee]

1 hour ago, Last Laff said:

No probs.  Do as you wish.  You keep it classy while you do that lad.

 

As you yourself always do on here 😀 Tragic 

[Nookie Bear]

5 minutes ago, Geoff Kilpatrick said:

This is not about past waste. This is about the lack of current income.

 

You can blame Budge and Levein all you like for past feck ups but even if they had not existed we would still be in this situation now.

In fairness, if we were not so rubbish on the pitch we would at least be able to sell early season tickets for the SPL next season. 

[johnthomas]

18 minutes ago, Des Lynam said:

Interesting article.....

 

https://www.skysports.com/football/news/11790/9308779/hearts-owner-ann-budge-insists-the-days-of-reckless-spending-are-over-at-tynecastle

 

Obviously we didn’t budget for a global pandemic but the fact we’ve clearly allowed the wages to get out of control again is a worry. 

2014 ?

[JamboNation]

I would feel better about this if we agreed to make the difference up when it's back up and running

[Geoff Kilpatrick]

2 minutes ago, Suso Santana said:

 

We'd have a hell of a lot more money in the bank right now if it wasn't for all the **** ups, I don't think my point is irrelevant. 

We'd also not be sitting bottom of the league if our manager wasn't a complete donkey and therefore relegation would not be a debate right now. 

No we wouldn't! We would have spent it on other things like players, otherwise there would have been complaints of "not investing".

 

The idea that we would have some big nest egg to tide us through a 6 month dearth of income is nonsensical.

[Geoff Kilpatrick]

1 minute ago, Nookie Bear said:

In fairness, if we were not so rubbish on the pitch we would at least be able to sell early season tickets for the SPL next season. 

We could still sell tickets but who is going to buy if you have no idea of your own financial circumstances? We are headed into an unprecedently deep recession where the basics of life are the focus.