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

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Jamie86
5 minutes ago, Holyrood_Hearts said:

Im sorry but as they are employees of the club they wouldn’t voluntarily offer a wage reduction. 
 

We all have a cost of living based on our income & if that reduces it can have a big impact. 

So you think these guys are living paycheck to paycheck as much as the men and women in the store or the ticket office or the admin office? I get what your saying the more you earn the more you spend but I am certain they could look at themselves, the lifestyle they lead and feel they could get by on 2 or 3k a week

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Paolo
Posted (edited)
3 minutes ago, soonbe110 said:

Indeed. It’s season ticket time for every club and all of them plan for a large intake of money during the March-June timeframe. Not going to happen. On top of that no further income from last two months of this season.  Tough situation and no-one could have seen it coming tbh. 

Given we don’t know what league we will be playing in, we were never going to be selling them at this time, anyway.  That part was within our control.  As was the wage after wage after failed and useless players.  Many of who are still here, as are the people who signed them. 
 

This is still a hammer blow, but the impact is worse as a result of the above. 

Edited by Paolo

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Suso Santana
Just now, soonbe110 said:

No more than any other club. Just that we are first to go public re the implications of what’s happening. Wouldn’t be surprised if we are in much better shape than most. 

 

I'm sure Ann and craig could loan us a couple of mil. 

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Francis Albert
40 minutes ago, Nobreath said:

First of many clubs I would imagine. Better sooner than later.

 

 

Is it being an arsehole to wonder why we are the first? There have been indications through the season that we habe had cash flow issues before Caronavirus surfaced. 

 

 

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busby1985

Every single club in Scotland will have to do this, maybe even Celtic. Budge has acted first and rightly so. 

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soonbe110
42 minutes ago, Tiger said:

Maybe I missed it but I guess we aren't insured?

Very few businesses are 

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Sir Gio
4 minutes ago, Koolkeith said:

We should have plenty money in reserve but she’s spunked it all on one stand and a shite playing squad.

I'm guessing you didn't do a lot of economics?

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merrymac
44 minutes ago, Rick Sanchez said:

So all players are available to leave...watch them go.

Don't think you have thought this through:phface:

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busby1985
2 minutes ago, soonbe110 said:

No more than any other club. Just that we are first to go public re the implications of what’s happening. Wouldn’t be surprised if we are in much better shape than most. 

Yeah. Can’t believe the reaction on here. We have merely acted before things get bad. I am willing to bet that we will see the end of at least two clubs in Scotland at the end of this. 

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combo74
Posted (edited)

Unlike big regulated businesses Football clubs don’t have big financial reserves to act as a buffer, especially not in unprecedented time’s like this.

 

Im not sure what our monthly outlay is in terms of wages and other overheads, but say it’s £250k; over the next 6 months that’s an outlay of £1.5m with no money coming in...we are unlikely to have that sort of cash in the bank and even if we did, we’d be saying we’d be broke by August, if we took no action. 
 

It’s basic economics, I’m not sure why fans can’t grasp that. To many, too quick to stick the boot in...as always.

 

AB has her faults, but she is being pragmatic and business minded on this one.

Edited by combo74

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soonbe110
37 minutes ago, Martin_T said:

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.

Not really. Insolvency comes when you can no longer service the debt. 

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Sir Gio
5 minutes ago, Lord BJ said:


I’m not blaming her for anything, well not on this thread. Not sure why you think I am. 🤷🏻‍♂️
 

Albeit, I do wonder if hearts are maybe hit a bit harder as we employ a lot of staff directly. Other clubs may contract a lot of their services, making it easy to reduce costs. 
 

We won’t be the only club/business facing these issues because of Coronavirus, 

Sorry didn't make that clear. In agreement with you,  using your post to question those who are

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Paolo
1 minute ago, Jamie86 said:

So you think these guys are living paycheck to paycheck as much as the men and women in the store or the ticket office or the admin office? I get what your saying the more you earn the more you spend but I am certain they could look at themselves, the lifestyle they lead and feel they could get by on 2 or 3k a week

Not really.  People base their lifestyle, the house they buy, the car they buy, and their commitments, on their wage.  And that is if you are on £100K a week or £250 a well.

 

Footballers probably should survive, but probably adopt the same philosophy, but someone on £40K a year, dropping to £20K will probably struggle. 

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cjambo1993
6 minutes ago, NB GIN said:

9 million raised by Us and we are the first club in financial turmoil, how badly are we run !!

Craig levein And  budge have simply been a disaster for this club 


Honestly can’t believe this 

 

 


**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 🤣

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soonbe110
37 minutes ago, jcjambo81 said:

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 

Almost certainly why she is quick of the mark highlighting the situation. 

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soonbe110
36 minutes ago, kila said:

Desperate times.

 

Budge also said fan ownership likely to be delayed so FoH money will help running costs. I am OK with that, especially if high earning players are on a reduced salary. I do not want the lower end employees to get their salary reduced though.

 

Will we see Levein give up his remaining salary being one of the highest earners?

 

Well he is giving up at least 50%, same as everyone else. 

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kettering jam tart

Very smart move, even more pressure now to call the league null and void, start selling next seasons season tickets, glad Ann had the foresight to do it first ahead of any other club in Britain.

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The Merse

Slightly concerned at how early this has come.

 

I thought others would shoot their bolt before us on this. 
 

The world really is ****ed.

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hughesie27
21 minutes ago, OTT said:

 

Exactly. 

 

Feel for the office staff though, after Vlad this was probably the last thing they expected to experience again. 

 

If a few of the wasters in the first team felt so aggrieved then I'd totally understand if they wanted to leave. Added bonus is that saving 100% on their wage would mean the burden on the other staff might be reduced a bit.

Don't think the office staff are part of this? Just Players and coaches.?

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soonbe110
28 minutes ago, lsimp77 said:

Ann Budge, her family and her helpers have slowly, little by little, ruined our club. We have become a national laughing stock. She will forever be known as the woman who killed Heart Of Midlothian. This is just the beginning unfortunately. 

With comments like that it’s clear who belongs amongst the laughing stocks. 

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hughesie27

A lot of posters in this thread I have never seen post before.

 

Interesting.

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Morph
4 minutes ago, Stone1992 said:

Aye a disgrace a business is trying to cut costs to survive due to a global pandemic. 

All we’ve heard about is how good our finances are, how good a business woman she is, how great everything is behind the scenes. 
 

All clearly a load of ****ing shite.  Cannot believe we’re back at square one after 6 years.  Actually I can.  Ran like a ****ing circus on and off the park. 
 

 

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Suso Santana

Is this officially a melt down then? Just so i know

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Last Laff
1 minute ago, hughesie27 said:

Don't think the office staff are part of this? Just Players and coaches.?


Office staff are also. 

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Cruickshank for Scotland
1 hour ago, Stendelnator said:

So much for Budge being a shrewd and canny businesswoman. Taking us into administration quicker than Romanov did. 


She is not responsible for the virus for fux sake!!!!

She is taking hard decisions to prevent administration!

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kingantti1874

Seriously, I don’t see the problem here - other than Celtic all clubs will be doing the same very soon, the sooner we do it the better.. 

 

 

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Mr Elwood P
1 hour ago, Stendelsarmy said:

Step up the mystery benefactor


The guy who made his millions on the stock market? He’ll be wishing he hadn’t spunked millions on Hearts!

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Suso Santana
Just now, Last Laff said:


Office staff are also. 

 

Much are they on? 

I don't think anyone on "normal" money should be asked to do this. 

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Sexton Hardcastle

Anyone using this as an opportunity to have a personal pop at AB and co can get so far to ****.

 

Small minded, sexist wankers.

 

Well done Ann on yet again trying to safe guard the long term future of our club. Hopefully we don’t need to do this again under your reign.

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Psychedelicropcircle

Folks giving it divert  FOH funds we are Likely two weeks from now  going to be on lockdown in the hoose!

 

As a SE person that’ll be diddy squat coming in. 

 

 

 

 

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Cruickshank for Scotland
Just now, kingantti1874 said:

Seriously, I don’t see the problem here - other than Celtic all clubs will be doing the same very soon, the sooner we do it the better.. 

 

 


Exactly!! Some idiotic comments on here!

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Sir Gio

Just discussing on Sky

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DETTY29
Posted (edited)
50 minutes ago, Suso Santana said:

Levein and MacPhee should be taking 100% wage cuts. 

Good job we didnt pay them full whack to eff off last October.

 

Small £10ks saving if they accept the reduction. 

Edited by DETTY29

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Vlad Magic

Awaiting a statement from Hibs.

 

 

 

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Stone1992
1 minute ago, Morph said:

All we’ve heard about is how good our finances are, how good a business woman she is, how great everything is behind the scenes. 
 

All clearly a load of ****ing shite.  Cannot believe we’re back at square one after 6 years.  Actually I can.  Ran like a ****ing circus on and off the park. 
 

 

 
I don’t know what planet you live on but business don’t sit with enough cash to cover what could be 3/4 months of cost with no income. 
 

Our finances were good. How was beige supposed to account for this and prepare our finances accordingly? 

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DETTY29
Just now, Vlad Magic said:

Awaiting a statement from Hibs.

 

 

 

Hopefully they burn all their cash reserves just to try and show us up.

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Dr Lager
29 minutes ago, Jamboelite said:

Yes Levein is the root cause of this right enough...

 

 

Correct go to the top of the class. Who would have thought squandering millions on terrible players would come back to haunt us

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Sir Gio

Getting the kitty ready for a legal team 

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Zico

Sad but sensible decision. This is a great thread for outing all the stupid ***** on here though. 

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Francis Albert
13 minutes ago, Footballfirst said:

The club budgeted £9m for wages in the current financial year.  That is £750k a month or £173k a week, so you can see the level of cuts being proposed.

We didn't get much value for the £9m did we? 

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Birregrande
1 hour ago, Baxfee said:

Arseholes on this thread. 

 

48 minutes ago, ...a bit disco said:

Some laughable comments on this thread.

 

Hearts 'supporters' aye? Suppose it explains the poll on the relegation thread.

This thread is stinking with them.  Some Hearts fans even responding to them. Amazing.

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Turkishcap
2 minutes ago, Vlad Magic said:

Awaiting a statement from Hibs.

 

 

 

Beat me to it!

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Bellion

Lots of clubs will have to do the same thing, and realistically, a lot of the players will have to seriously consider this. They’re not finding alternative employment elsewhere anytime soon.

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Jamie86
13 minutes ago, Legend Claws said:

 

People tend to live by their means. If you earn 5k a week, your financial commitments likely reflect that. It's all relative. Yes, if they care, they should accept the 50%, but volunteering to do it en-masse? No.

I get its relative but this is for a period of 5-6 months where we are asking them to take a pay cut. I get it if we ask them to continue to live the rest of their lives on the lower amount but we aren't so 

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Taffin

People are frustrated because we've wasted so much money over the last 5 years but hindsight is a wonderful thing and nobody could have foreseen these circumstances.

 

Feel for the office staff and it will be interesting to see if it leaks out which (if any) players refuse the cut.

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Suso Santana

Hibs.net is loving this. 

Maybe we shouldn't have made an official statement...

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Special Officer Doofy

Happy to chip in to a fund for non playing staff who may need it.

 

 

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Turkishcap

Hope some of the comments on here are from young ones cos if its adults.....

oh jee

 

 

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GorgieRules22

I think it was a brilliant statement. We ask for transparency and we get it and it’s just very careful planning.

 

Well done Ann.

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Special Officer Doofy
Just now, Suso Santana said:

Hibs.net is loving this. 

Maybe we shouldn't have made an official statement...


Aye, that’s what matters here.

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