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

[tolcross lad]

1 hour ago, flecktimus said:

Just to show how easy it is for a good business decision to become a bad business decision

 

Last year i demanded a rates review for my Hotel. My rates valuation was round about £20,000. After much discussion i got my valuation down to £17,500 for the next financial year.

 

This week the Government announces grants of £10,000 for commercial properties with a rateable value up to £18,000 and   £25,000 for properties with rateable values over £18000. So my business decision last year, which at the time was logical, has now cost me £15,000 in a very difficult time.

That’s how easy it is to get stuff wrong sometimes, particularly with sudden events as we witnessing now.

 

So what have i done?

1) Closed the hotel down as there are no customers.

2) Sent all staff home on full pay staff till the 25/3/20 , Then the money runs out

3) I will look at each scheme that the government puts forward and hope that myself and my staff can get through this. My analysis for the business is for this event to last at least a year for my business, I can only hope that I am making all the right decisions. 

 

Footnote: As HMFC have, I have made a lot of investment into the business over the last 10 years and life has been tough at times. Here is the irony I was going into this summer season in the best financial position I have had for at least 10years yet in a matter of weeks I am bust. Decisions Eh

 

Its important for all of us that we hear about your kind of business predicament which will be happening in one form or another up and down the country.It really is tough stuff which will require real resilience as you do your best to make the right decisions.I wish you all the best.

[Malinga the Swinga]

9 minutes ago, McCrae said:

I am a shareholder and get the accounts sent to me every year.  We won’t get this year’s accounts to the end of the year.... but you don’t have to be a genius to work out we are in trouble, otherwise the club would not be taking the action it has. 

Of course we are in trouble. We have no income for an unspecified period. Without coronavirus, we would not be in this situation, but for some reason, people just don't want to accept it.

[DETTY29]

Delete.

Wrong thread.

 

Edited March 21, 2020 by DETTY29

[Footballfirst]

19 minutes ago, Malinga the Swinga said:

Of course we are in trouble. We have no income for an unspecified period. Without coronavirus, we would not be in this situation, but for some reason, people just don't want to accept it.

 

I don't think people would have as much concern if we were sitting comfortably in the top 6.  The fear of enforced relegation, ultimately because of our abject performances on the park, are driving the criticism and scrutiny of all the decisions being made by the club.

[kila]

Just now, Footballfirst said:

I don't think people would have as much concern if we were sitting comfortably in the top 6.  The fear of enforced relegation, ultimately because of our abject performances on the park, are driving the criticism and scrutiny of all the decisions being made by the club.

 

But even if we were in the top 6, the financial situation would be the same at this moment in time with football 'paused' indefinitely.

 

Enforced relegation won't happen, and the 14/14/14 league restructure as a one off is the only plausible way forward. I think given how ****ed all the clubs are bar Celtic, sharing the prize fund equally is the way to go otherwise the league restructure might only be 10/10 after this.

 

 

[Malinga the Swinga]

17 minutes ago, Footballfirst said:

 

I don't think people would have as much concern if we were sitting comfortably in the top 6.  The fear of enforced relegation, ultimately because of our abject performances on the park, are driving the criticism and scrutiny of all the decisions being made by the club.

I reckon if we were clear at the top of the league, people would still be critical. Having a woman in charge and a woman who doesn't tolerate behaviours that they desire to return to, is a step to far for them to accept.

[Footballfirst]

15 minutes ago, kila said:

 

But even if we were in the top 6, the financial situation would be the same at this moment in time with football 'paused' indefinitely.

 

Enforced relegation won't happen, and the 14/14/14 league restructure as a one off is the only plausible way forward. I think given how ****ed all the clubs are bar Celtic, sharing the prize fund equally is the way to go otherwise the league restructure might only be 10/10 after this.

I appreciate that the financial situation would be the same, but there are two drivers to AB's decision making at the moment, one is the more pressing one, the immediate lack of income, but the second is the Plan B planning mooted at the AGM which was in respect of preparedness for relegation.

 

I don't think that 14/14/14 is a given at this time, although it would suit those threatened by relegation including a couple of SPFL Board members who happen to represent Hamilton and Brechin.  The HL and LL should also be taken into account (the HL declared Brora champions earlier today), so we could end up with 14/10/10/10 for a season.

 

Another option would be to wait, complete the season when football can resume then play a shortened 2020/21 season.

 

The other options are either to void the season completely, or end it as it stands, with promotion / relegation determined by current positions.

 

 I see those last two options as least likely, but until they are ruled out they have to remain on the table.

  

Whatever decision is made, some will be happy, some neutral and some angry. 

Edited March 21, 2020 by Footballfirst

[TyphoonJambo]

4 hours ago, flecktimus said:

Just to show how easy it is for a good business decision to become a bad business decision

 

Last year i demanded a rates review for my Hotel. My rates valuation was round about £20,000. After much discussion i got my valuation down to £17,500 for the next financial year.

 

This week the Government announces grants of £10,000 for commercial properties with a rateable value up to £18,000 and   £25,000 for properties with rateable values over £18000. So my business decision last year, which at the time was logical, has now cost me £15,000 in a very difficult time.

That’s how easy it is to get stuff wrong sometimes, particularly with sudden events as we witnessing now.

 

So what have i done?

1) Closed the hotel down as there are no customers.

2) Sent all staff home on full pay staff till the 25/3/20 , Then the money runs out

3) I will look at each scheme that the government puts forward and hope that myself and my staff can get through this. My analysis for the business is for this event to last at least a year for my business, I can only hope that I am making all the right decisions. 

 

Footnote: As HMFC have, I have made a lot of investment into the business over the last 10 years and life has been tough at times. Here is the irony I was going into this summer season in the best financial position I have had for at least 10years yet in a matter of weeks I am bust. Decisions Eh

I hope it works out for you mate. 

[theflagman]

Budge should look in the mirror,her leaving might save us money ,every desicion she makes seems to cost us.

[flecktimus]

7 minutes ago, TypoonJambo said:

I hope it works out for you mate. 

Cheers mate.

 

[JamboAl]

2 hours ago, McCrae said:

I am a shareholder and get the accounts sent to me every year.  We won’t get this year’s accounts to the end of the year.... but you don’t have to be a genius to work out we are in trouble, otherwise the club would not be taking the action it has. 

The phrase below gives some idea of your knowledge.  We may or may not be in trouble now but we will be if we continue our current outlay with income sources being cut - and that is why AB has taken the action she has, which should at least minimise the damage.

 

 

you don’t have any cash in the bank if you don’t make a profit. The club is spending more than it earns and it has to stop.

[Mikey1874]

13 minutes ago, theflagman said:

Budge should look in the mirror,her leaving might save us money ,every desicion she makes seems to cost us.

 

The £9 million her associates have gifted the club?

[Beast Boy]

1 minute ago, Mikey1874 said:

 

The £9 million her associates have gifted the club?

Along with far more money for shirt sponsorship than we have ever had, doubled turnover from when she came in and all the while not taking a salary.

 

Laughable isn’t it.

[Jamboelite]

5 minutes ago, Special Officer Doofy said:

Along with far more money for shirt sponsorship than we have ever had, doubled turnover from when she came in and all the while not taking a salary.

 

Laughable isn’t it.

Laughable because so many on this thread reek of Hibs.

[Taffin]

8 minutes ago, Special Officer Doofy said:

Along with far more money for shirt sponsorship than we have ever had, doubled turnover from when she came in and all the while not taking a salary.

 

Laughable isn’t it.

 

I wonder if we could have achieved a similar amount just by the savings of having a wage bill similar to Hamilton...given she's made them our competition.

[Beast Boy]

6 minutes ago, Jamboelite said:

Laughable because so many on this thread reek of Hibs.

Partly. 

 

4 minutes ago, Taffin said:

 

I wonder if we could have achieved a similar amount just by the savings of having a wage bill similar to Hamilton...given she's made them our competition.

Nice. Sorry for pointing out the truth about her not costing us money. I realise a lot of people are unwilling to accept that right now because they are angry, but it’s the truth. 🙄

[Taffin]

1 minute ago, Special Officer Doofy said:

Partly. 

 

Nice. Sorry for pointing out the truth about her not costing us money. I realise a lot of people are unwilling to accept that right now because they are angry, but it’s the truth. 🙄

 

It's all well and good bringing in more money but if you waste it all you may as well not have bothered.

 

She's done the right thing in this instance though. Fair play for that.

[Beast Boy]

Just now, Taffin said:

 

It's all well and good bringing in more money but if you waste it all you may as well not have bothered.

 

She's done the right thing in this instance though. Fair play for that.

That wasn’t what was being discussed. It was being claimed we’d have been better off without her because she costs us money.

[Taffin]

Just now, Special Officer Doofy said:

That wasn’t what was being discussed. It was being claimed we’d have been better off without her because she costs us money.

 

I think she probably does cost us nett. She's generated increased revenue but we have little cash reserves or success to show for it. I'd rather we turned over less but saw something for it.

[Beast Boy]

5 minutes ago, Taffin said:

 

I think she probably does cost us nett. She's generated increased revenue but we have little cash reserves or success to show for it. I'd rather we turned over less but saw something for it.

Id rather we turned over the same amount but saw more for it.

[Taffin]

1 minute ago, Special Officer Doofy said:

Id rather we turned over the same amount but saw more for it.

 

Well, yes that's a fair shout, can't and won't argue with that!

[OTT]

Its a difficult one isn't it. On one hand, Hearts the football club are a joke. On the flip side, Hearts the business is doing well. 

 

Why are these people investing into the club and why does that only happen if Budge is there? If Budge moved in and a more qualified better suited person came in and continued to build positively would they refuse to invest? 

[HMFC01]

The club isn't a joke.  The players were the joke.  Some of them kept repeating the punch line after the jokers got sacked.  The business side is a mystery.  Why would anyone want to invest in a failed team from a shareholder or benefactor side if it was constantly failing.  Obviously looked to far to the horizon instead of what was going on about.

 

I hope it's all in the past now and the business side isn't so naive or too trusting of the football side again.

[CJGJ]

https://www.dailymail.co.uk/sport/sportsnews/article-8137563/Coronavirus-Spain-Barcelona-considering-salary-reductions-club-players-staff.html

[Beast Boy]

5 minutes ago, CJGJ said:

https://www.dailymail.co.uk/sport/sportsnews/article-8137563/Coronavirus-Spain-Barcelona-considering-salary-reductions-club-players-staff.html

They should tell Barcelona to “**** off”... amirite?

[WheatfieldWarrior]

27 minutes ago, Special Officer Doofy said:

They should tell Barcelona to “**** off”... amirite?

 

Ever since Ana del Budgietta was appointed at the Nou Camp, their finances have been on the slide.

Edited March 22, 2020 by WheatfieldWarrior

[Beast Boy]

46 minutes ago, WheatfieldWarrior said:

 

Ever since Ana del Budgietta was appointed at the Nou Camp, their finances have been on the slide.

They’’d have been better off without him and the losses he’s run up.  

[highlandjambo3]

11 hours ago, theflagman said:

Budge should look in the mirror,her leaving might save us money ,every desicion she makes seems to cost us.

Apart from the one where she saved the club

[jamboinglasgow]

https://www.dumbartonfootballclub.com/news/?mode=view&id=4345

 

Dumbarton appear to have asked players to cut their wages.

[Turkishcap]

Has to be more this week. Over 65 and you are not allowed out in Turkey. 

[husref musemic]

this is interesting.

 

 

 

[Diadora Van Basten]

11 hours ago, CJGJ said:

https://www.dailymail.co.uk/sport/sportsnews/article-8137563/Coronavirus-Spain-Barcelona-considering-salary-reductions-club-players-staff.html

What does Tam McManus and Kris Boyd have to say about this!

[husref musemic]

3 minutes ago, Diadora Van Basten said:

What does Tam McManus and Kris Boyd have to say about this!

the financial whiz kids of Scottish football. 

in two weeks time have a look back at these articles and laugh.

[jock _turd]

18 minutes ago, husref musemic said:

this is interesting.

 

 

 

Certainly is Norwich are on the EPL not the championship ?

[Mikey1874]

9 minutes ago, Diadora Van Basten said:

What does Tam McManus and Kris Boyd have to say about this!

 

A few people have asked McManus this morning.

 

If you want to add to that just reply here (if you're on Twitter/ if you're not get on)

 

 

[husref musemic]

3 minutes ago, jock _turd said:

Certainly is Norwich are on the EPL not the championship ?

there's a couple of teams included that shouldn't be i think. Generally though they are amazing numbers (days).

[GinRummy]

9 minutes ago, Mikey1874 said:

 

A few people have asked McManus this morning.

 

If you want to add to that just reply here (if you're on Twitter/ if you're not get on)

 

 

Other top flight clubs will be taking action soon imo. I’m sure TMc will slither away under a stone somewhere at that point. 

[Gilberts Fridge]

2 minutes ago, GinRummy said:

Other top flight clubs will be taking action soon imo. I’m sure TMc will slither away under a stone somewhere at that point. 

 

Ah but it will all be the fault of those nasty jambos as they were the first and put the idea in to the heads of the honest, hardworking and diligent other club owners.

 

 

[jock _turd]

10 minutes ago, Mikey1874 said:

 

A few people have asked McManus this morning.

 

If you want to add to that just reply here (if you're on Twitter/ if you're not get on)

 

 

 

The guy is an arsehole the very fact that a club of the stature of Barca is negotiating a salary cut tells you everything you need to know about the situation facing football clubs. This will not end with just one club there will be many who have to save money.

[Seymour M Hersh]

I see the mhanks are sniffing around Hickey looking for a bargain because we are in such dire straits. I suppose the other arse cheek would be as well if they had any money. ******* clubs both of them. 

[gashauskis9]

42 minutes ago, Diadora Van Basten said:

What does Tam McManus and Kris Boyd have to say about this!

Exactly.  Time for these pricks to put up or shut up.

[HardcoreJambo]

Irrespective of what other clubs may or may not do I am concerned about the running of our club. I'm grateful for what AB did to help save our club but I feel it'll be for the best once the ownership of Hearts has been passed over the FoH. We have been clearly overspending since our return to the top flight and its come to light due to the coronavirus crisis. Levein and MacPhee have played a large part in the signings we've made in recent years. Poor signings. Long contracts. Large enough wages. Supporting Hearts post administration has been difficult (Championship season apart). Its been some of the toughest times I've experienced as a Jambo.

 

I wish Levein and MacPhee would just terminate their contracts. I hope the large majority of our squad exits this summer. Hopefully the sale of Hickey can help the club through these difficult times.  I'm currently anticipating Stendel to jump ship in light of whats happening. I'm still undecided if he's the right man for the job and so far I'm just not convinced he is. I believe we'd have been relegated had the season been completed. There was little evidence of things changing for the better. The mess just kept getting worse ever passing week.

 

I have a sense of envy towards Aberdeen and Motherwell at the moment. They are both apparently financially secure and can cope with the current climate of world football. I feel for the size of club we are and had we been run appropriately we would be experiencing a similar financial privilege. I've never held this much apathy towards football and Hearts in my lifetime. Apologies for sounding so negative.

Edited March 22, 2020 by HardcoreJambo

[gashauskis9]

11 hours ago, CJGJ said:

https://www.dailymail.co.uk/sport/sportsnews/article-8137563/Coronavirus-Spain-Barcelona-considering-salary-reductions-club-players-staff.html

Well obviously because Barcelona are a badly run club...

[Skiba]

11 hours ago, Special Officer Doofy said:

They should tell Barcelona to “**** off”... amirite?

Kris Boyd will be in the paper.  I'd tell Barcelona to 'F Off'

[gashauskis9]

9 minutes ago, Skiba said:

Kris Boyd will be in the paper.  I'd tell Barcelona to 'F Off'

Imagine the headline.  "Boyd in Pie-hell-a"

[jock _turd]

1 minute ago, HardcoreJambo said:

I have a sense of envy towards Aberdeen and Motherwell at the moment. They are both apparently financially secure and can cope with the current climate of world football. I feel for the size of club we are and had we been run appropriately we would be experiencing a similar financial privilege. I've never held this much apathy towards football and Hearts in my lifetime. Apologies for sounding so negative.

 

Honestly what a pile of shite. Football side apart what has happened over the last few weeks is totally outwith the control of the club. AB has taken steps to limit the impact of something which has the capacity to bring clubs to their knees on health grounds alone. If you add to this the uncertainty of the future in terms of income she has taken very prudent steps.

[Mikey1874]

15 minutes ago, HardcoreJambo said:

Irrespective of what other clubs may or may not do I am concerned about the running of our club. I'm grateful for what AB did to help save our club but I feel it'll be for the best once the ownership of Hearts has been passed over the FoH. We have been clearly overspending since our return to the top flight and its come to light due to the coronavirus crisis. Levein and MacPhee have played a large part in the signings we've made in recent years. Poor signings. Long contracts. Large enough wages. Supporting Hearts post administration has been difficult (Championship season apart). Its been some of the toughest times I've experienced as a Jambo.

 

I wish Levein and MacPhee would just terminate their contracts. I hope the large majority of our squad exits this summer. Hopefully the sale of Hickey can help the club through these difficult times.  I'm currently anticipating Stendel to jump ship in light of whats happening. I'm still undecided if he's the right man for the job and so far I'm just not convinced he is. I believe we'd have been relegated had the season been completed. There was little evidence of things changing for the better. The mess just kept getting worse ever passing week.

 

I have a sense of envy towards Aberdeen and Motherwell at the moment. They are both apparently financially secure and can cope with the current climate of world football. I feel for the size of club we are and had we been run appropriately we would be experiencing a similar financial privilege. I've never held this much apathy towards football and Hearts in my lifetime. Apologies for sounding so negative.

 

Interesting.

 

We don't know what other clubs will do.

 

Generally people like Motherwell's Alan Burrows have suggested there is 2 or 3 months at most before there will be problems. 

 

But why then have Motherwell asked their fans to contribute more through joining the Well Society if they are okay.

 

Aberdeen could get cash from their rich owners. 

 

Some people are perhaps waiting. I think the main difference is Hearts are taking responsibility and not waiting. 

[gashauskis9]

Can we all just be clear now.  No football club, that is in the business of matchday experiences and have not yet sold season tickets for 2020/21, will be able to survive more than 6 months without revenue.  Yes, the bigger clubs will still be able to flog some kits online, but these will come nowhere near the wage budgets going out.  Bigger the club, bigger the stadium, bigger the crowds, bigger the wage bill.  Hearts' income from all activities will be more than 5 times that for St Mirren, St Johnstone, Hamilton, Livingston and Ross County.  Are all their wage bills/overheads a fifth of ours?  No, they aren't.  These clubs rely pretty much solely on Celtic and Rangers moving in 2 times a season to boost the attendances.        

[ShedBoy]

Don’t panic.

 

Abramovich will snap us up for £1

[The Real Maroonblood]

32 minutes ago, Gashauskis9 said:

Imagine the headline.  "Boyd in Pie-hell-a"