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

[Mikey1874]

1 minute ago, IveSeenTheLight said:

 

Paying now or deferring till later still means its being paid, it's just whether there is the cashflow to sustain.

They are assessing it at the moment.

Season Tickets are on sale, as is the AberDNA.

 

We have insurance coverage for Pandemics until the renewal date at the end of April, which should mean that the club is fully covered until then.

 

A lot of calls to name and shame the insurance company withdawing the wording for covering Pandemics, but maybe they'll be pressurised into reversing that decision. I think it should be escalated to governments if they don't as arguably this is a form of profiteering. The premium for such coverage is likely to go up, but its a hard thing to remove altogether when in the existing insurance.

 

So were covered by Insurance until the end of next month, in which time we can have assessed what the status is with the leagues, revenues and latest expectations / decisions on what is to happen

 

The insurance won't be reversed.

 

Cormack has communicated well. But cuts are inevitable. Now or down the line. 

[Beast Boy]

3 minutes ago, IveSeenTheLight said:

 

Paying now or deferring till later still means its being paid, it's just whether there is the cashflow to sustain.

They are assessing it at the moment.

Season Tickets are on sale, as is the AberDNA.

 

We have insurance coverage for Pandemics until the renewal date at the end of April, which should mean that the club is fully covered until then.

 

A lot of calls to name and shame the insurance company withdawing the wording for covering Pandemics, but maybe they'll be pressurised into reversing that decision. I think it should be escalated to governments if they don't as arguably this is a form of profiteering. The premium for such coverage is likely to go up, but its a hard thing to remove altogether when in the existing insurance.

 

So were covered by Insurance until the end of next month, in which time we can have assessed what the status is with the leagues, revenues and latest expectations / decisions on what is to happen

Cant he just approach the mysterious investors who were going to pump in part of the £50m+ for your new stadium? 

[IveSeenTheLight]

19 minutes ago, Special Officer Doofy said:

Cant he just approach the mysterious investors who were going to pump in part of the £50m+ for your new stadium? 

 

 

Don't worry yourself with such things Special Agent Doofy.

As you were.

[IveSeenTheLight]

23 minutes ago, Mikey1874 said:

 

The insurance won't be reversed.

 

Cormack has communicated well. But cuts are inevitable. Now or down the line. 

 

Cormack has indeed come across well and you may be correct that cuts are likely to occur.

How much they are and how long are still to be determined though

[Beast Boy]

8 minutes ago, IveSeenTheLight said:

 

 

Don't worry yourself with such things Special Agent Doofy.

As you were.

So they won’t then? Seemed like a sensible route to take. I assume these investors had provided figures of what they were prepared to pump in?

[braveheart]

Volkswagen announced that they are losing £2 billion per week.badly run company?

[SectionDJambo]

30 minutes ago, IveSeenTheLight said:

 

Paying now or deferring till later still means its being paid, it's just whether there is the cashflow to sustain.

They are assessing it at the moment.

Season Tickets are on sale, as is the AberDNA.

 

We have insurance coverage for Pandemics until the renewal date at the end of April, which should mean that the club is fully covered until then.

 

A lot of calls to name and shame the insurance company withdawing the wording for covering Pandemics, but maybe they'll be pressurised into reversing that decision. I think it should be escalated to governments if they don't as arguably this is a form of profiteering. The premium for such coverage is likely to go up, but its a hard thing to remove altogether when in the existing insurance.

 

So were covered by Insurance until the end of next month, in which time we can have assessed what the status is with the leagues, revenues and latest expectations / decisions on what is to happen

The trouble with deferring payment of wages, will be when we get started playing games again, how short is the next season going to be? If, for example, only 30 league matches, or less, are played in a restricted season, players are going to expect to be paid as if they played 38 games. There is a winter World Cup not so far away, which will alter the next season after as well.

In my opinion, deferral only kicks the can down the road, with the clubs taking all the risk. Other businesses are not being asked to pay full wages, whilst they are shut down. Why should football clubs?

We are looking at a real possibility of many clubs going bust, and being lost to the fans who have supported them for years, just so a group of employees can continue to take their full wages, which those fans can’t get from their employers.
Then those football players will happily move on to other clubs, which most fans of defunct clubs won’t do.

[Lord Beni of Gorgie]

38 minutes ago, Mikey1874 said:

 

The insurance won't be reversed.

 

Cormack has communicated well. But cuts are inevitable. Now or down the line. 

Only a lunatic would offer a fresh policy for a pandemic in the middle of a....well....pandemic..... and only delusional fuds would expect to be offered that service 

[JamboAl]

2 minutes ago, Sir Gio said:

Only a lunatic would offer a fresh policy for a pandemic in the middle of a....well....pandemic..... and only delusional fuds would expect to be offered that service 

Precisely.

[HoGwash]

12 minutes ago, braveheart said:

Volkswagen announced that they are losing £2 billion per week.badly run company?

Should have had £104bn in cash reserves. Basic economics. 

[Dusk_Till_Dawn]

16 minutes ago, braveheart said:

Volkswagen announced that they are losing £2 billion per week.badly run company?

Are they bottom of their league?

[DETTY29]

24 minutes ago, Sir Gio said:

Only a lunatic would offer a fresh policy for a pandemic in the middle of a....well....pandemic..... and only delusional fuds would expect to be offered that service 

Or retain but increase their premiums by several 0s per cent.

[willie wallace]

Barcelona trying to steal Hearts thunder with a 70% cut in wages.We are up there with the big boys.😄

[IveSeenTheLight]

1 hour ago, Sir Gio said:

Only a lunatic would offer a fresh policy for a pandemic in the middle of a....well....pandemic..... and only delusional fuds would expect to be offered that service 

 

I'd respectfully challenge that.

The Insurance company was willing to take the premium for coverage when there was not a Pandemic.

The last pandemic was 2009 and the one prior to that was 1918

 

I have health insurance, If I have to make a claim, that part of the coverage is not removed from future policies.

Sure my premium may increase accordingly, but I still get the option to be covered.

 

If I lose my job as a result and need to claim on my unemployment insurance, I'd still expect to be able to get unemployment insurance the following year.

Usually this is restricted to a maximum period i.e. 12 months

 

Insurance companies still provide flood cover in areas where places are prone to flooding. 

 

As I said earlier, if the company wants to retract coverage previously offered, I think they should name and shame them.

Would you want to take coverage with such a company?

 

The right thing to do would be to continue to offer the option of covering for Pandemic's but justify an increase in premium for that type of coverage

[IveSeenTheLight]

1 hour ago, DETTY29 said:

Or retain but increase their premiums by several 0s per cent.

 

Absolutely, that's the normal course of action is to increase the premium.

The insuree then would decide whether they want that part of the policy or not.

 

It seems that this insurer tried to sneak in the change and was caught by the club reading the small print

[Lord Beni of Gorgie]

18 minutes ago, IveSeenTheLight said:

 

I'd respectfully challenge that.

The Insurance company was willing to take the premium for coverage when there was not a Pandemic.

The last pandemic was 2009 and the one prior to that was 1918

 

I have health insurance, If I have to make a claim, that part of the coverage is not removed from future policies.

Sure my premium may increase accordingly, but I still get the option to be covered.

 

If I lose my job as a result and need to claim on my unemployment insurance, I'd still expect to be able to get unemployment insurance the following year.

Usually this is restricted to a maximum period i.e. 12 months

 

Insurance companies still provide flood cover in areas where places are prone to flooding. 

 

As I said earlier, if the company wants to retract coverage previously offered, I think they should name and shame them.

Would you want to take coverage with such a company?

 

The right thing to do would be to continue to offer the option of covering for Pandemic's but justify an increase in premium for that type of coverage

Spoken like a true delusional...….tell you what I will have a bet at 1/100 with you, there will be a pandemic after 30 April in this country. You going to take it, its the right thing to do after all.

Edited March 27, 2020 by Sir Gio

[Kilmacolm Jambo]

23 minutes ago, IveSeenTheLight said:

 

I'd respectfully challenge that.

The Insurance company was willing to take the premium for coverage when there was not a Pandemic.

The last pandemic was 2009 and the one prior to that was 1918

 

I have health insurance, If I have to make a claim, that part of the coverage is not removed from future policies.

Sure my premium may increase accordingly, but I still get the option to be covered.

 

If I lose my job as a result and need to claim on my unemployment insurance, I'd still expect to be able to get unemployment insurance the following year.

Usually this is restricted to a maximum period i.e. 12 months

 

Insurance companies still provide flood cover in areas where places are prone to flooding. 

 

As I said earlier, if the company wants to retract coverage previously offered, I think they should name and shame them.

Would you want to take coverage with such a company?

 

The right thing to do would be to continue to offer the option of covering for Pandemic's but justify an increase in premium for that type of coverage

Life or critical illness cover is not an annually renewable contract and all terms are clear in black and white at the time the cover is incepted and will remain so provided premiums are kept up, with the proviso for index linking etc. 
 

Business Interruption cover is a 12 month policy which is underwritten at the outset based on all known circumstances and then accepted by both parties. Towards the end of this period, terms are reviewed by the insurer and they are not obliged to offer anything, just as the policyholder isn’t obliged to accept any quote offered. 
 

As you will be aware, this is the same for home, motor, commercial insurance etc. All the insurer are doing is exercising their right to consider the cover offered. Even if they were to offer “pandemic” cover, it would exclude anything related to Covid-19 as Insurance is only intended to cover sudden and unforeseen events.

 

As your own chairman has commented, the potential solution is a Flood Re/Pool Re system where there is a central fund to cover a proportion of claims, finances by a levy on everyone. 
 

Insurers are not obliged to take on properties in high flood risk areas but if they do, they can cede the risk to Flood Re.

[Nookie Bear]

4 hours ago, HMFC01 said:

I missed that.  Never noticed anything about Peterhead or Inverness. 

 

That made me read the whole thing.  Ex-Aberdeen Darren Young now East Fife manager and his brother coaches Aberdeens u-17.  You don't have to figure out which way he's going to go with his story.

 

Darren...Derek....whoever. Possibly the most ineffectual footballing brothers ever to 'grace' the turf.

[braveheart]

Schalke players are waiving their salary for the good of the club and other employees.what do you think o that McManus?

[IveSeenTheLight]

1 hour ago, Sir Gio said:

Spoken like a true delusional...….tell you what I will have a bet at 1/100 with you, there will be a pandemic after 30 April in this country. You going to take it, its the right thing to do after all.

 

Absolutely the Covi-19 pandemic will not be clear by April 30th.

That's not how insurances work though. its not a betting shop (who's delusional?)

 

[Lord Beni of Gorgie]

17 minutes ago, IveSeenTheLight said:

 

Absolutely the Covi-19 pandemic will not be clear by April 30th.

That's not how insurances work though. its not a betting shop (who's delusional?)

 

It's a financial transaction based on risk you clueless?  😭

 

You would hand out the insurance would you

 

 

As you were Iseenthelight as you were

 

Edited March 27, 2020 by Sir Gio

[sadj]

4 hours ago, SectionDJambo said:

The trouble with deferring payment of wages, will be when we get started playing games again, how short is the next season going to be? If, for example, only 30 league matches, or less, are played in a restricted season, players are going to expect to be paid as if they played 38 games. There is a winter World Cup not so far away, which will alter the next season after as well.

In my opinion, deferral only kicks the can down the road, with the clubs taking all the risk. Other businesses are not being asked to pay full wages, whilst they are shut down. Why should football clubs?

We are looking at a real possibility of many clubs going bust, and being lost to the fans who have supported them for years, just so a group of employees can continue to take their full wages, which those fans can’t get from their employers.
Then those football players will happily move on to other clubs, which most fans of defunct clubs won’t do.

Far too sensible.

 

Clubs selling season tickets now could be a huge risk too. No one knows how long this will affect a normal way of life. What happens if things continue this way past August. Shorter season next year , less games people want refunds etc. 

[sadj]

3 minutes ago, Sir Gio said:

It's a financial transaction based on risk you clueless?  😭

 

You would hand out the insurance would you

 

 

Hows you n the codheiders? You coping? 

[Lord Beni of Gorgie]

1 minute ago, sadj said:

Hows you n the codheiders? You coping? 

Surviving. Good bit of comedy from the visiting clown is passing the time. 

 

What about yourselves?

 

Quite a few folk our for a walk stopping and talking in a  huddle. Not getting the hang of it. 

 

Work carrying on from home,  we have got through a good bit,  but you wonder how long logistics can keep up.

 

Troubling times.  Stay safe, away out for my supermarket rations...

 

 

 

 

[Mikey1874]

15 minutes ago, Sir Gio said:

It's a financial transaction based on risk you clueless?  😭

 

You would hand out the insurance would you

 

 

As you were Iseenthelight as you were

 

 

I'm very pleased the insurance company isn't maintaining cover. Insurance is a balance and throwing money at Aberdeen (you do know they would need to give it to everyone else) would increase premiums all over. 

[sadj]

9 minutes ago, Sir Gio said:

Surviving. Good bit of comedy from the visiting clown is passing the time. 

 

What about yourselves?

 

Quite a few folk our for a walk stopping and talking in a  huddle. Not getting the hang of it. 

 

Work carrying on from home,  we have got through a good bit,  but you wonder how long logistics can keep up.

 

Troubling times.  Stay safe, away out for my supermarket rations...

 

 

 

 

im great , just training away and walking Cleo really. Helping ppl wi some workouts and looking out for the neighbours.

 

Don’t do it itll take you hours to get in and round the shops. Glad you are all well. 👌🏻

[jock _turd]

49 minutes ago, IveSeenTheLight said:

 

Absolutely the Covi-19 pandemic will not be clear by April 30th.

That's not how insurances work though. its not a betting shop (who's delusional?)

 

 

Actually it is 100% a betting shop... yes they have the best statisticians and all the available resources but INSURANCE is 100% a betting shop! Now you tell me that in some way insurance at any level is not a company betting the person insured , the person placing the bet, that it is not going to happen.

[Mikey1874]

18 minutes ago, jock _turd said:

 

Actually it is 100% a betting shop... yes they have the best statisticians and all the available resources but INSURANCE is 100% a betting shop! Now you tell me that in some way insurance at any level is not a company betting the person insured , the person placing the bet, that it is not going to happen.

 

Yeah. Good comparison. 

 

Like the betting companies insurers always win. (Occasionally they don't but exceptional). 

Edited March 27, 2020 by Mikey1874

[jock _turd]

18 minutes ago, Mikey1874 said:

 

Yeah. Good comparison. 

 

Like the betting companies insurers always win. (Occasionally they don't but exceptional). 

 

It surprises me to think that common mortals cannot understand that when someone says something is cast iron they do not see the flaws. For example how many people have been seduced by stocks and shares ISA's by their own independent financial advisory... sales rep by any other name! Well yes they can make money if you have a crystal ball and withdraw at exactly the right time... but the punter sitting on a fixed rate ISA is pissing his pants laughing at the moment he is still going to get a measly 2% for the year the poor old S&S is seen his money pished up against the wall... insurance is no different they THINK they have it covered but sometimes they don't. I do not know why I am posting this this present situation has cost my a bundle... I will just have to wait for another ten years! 

[Footballfirst]

PFA statement to players

 

[Martin_T]

How many clubs in Scotland have any more than a handful of players on contracts for next season?

 

That seems to have been overlooked by many commentators on this subject, the fact that for most clubs in Scotland, it will simply be a case of freeing the bulk of their playing squads come the end of May.

[Lord Beni of Gorgie]

2 hours ago, sadj said:

im great , just training away and walking Cleo really. Helping ppl wi some workouts and looking out for the neighbours.

 

Don’t do it itll take you hours to get in and round the shops. Glad you are all well. 👌🏻

Keep safe and healthy 

 

[gorgie rd eh11]

Aberdeen "hope" to open their new stadium in 2019/20.

 

How's that going?

[jambmoz]

How does she expect these players  to save us, if the season ever restarts after she’s suspended their wages🤷‍♂️ 

[Jason Dufner]

https://www.skysports.com/football/news/11790/11964825/hearts-warn-players-their-wages-will-be-suspended-if-they-refuse-50-per-cent-pay-cut
 

Be interesting to see what happens next, would expect quite a few players will walk.

[Five to One]

1 minute ago, Jason Dufner said:

https://www.skysports.com/football/news/11790/11964825/hearts-warn-players-their-wages-will-be-suspended-if-they-refuse-50-per-cent-pay-cut
 

Be interesting to see what happens next, would expect quite a few players will walk.

here’s hoping 🤞 

[jambmoz]

Just now, Jason Dufner said:

https://www.skysports.com/football/news/11790/11964825/hearts-warn-players-their-wages-will-be-suspended-if-they-refuse-50-per-cent-pay-cut
 

Be interesting to see what happens next, would expect quite a few players will walk.

Personally I think it’s a step too far, we offered them the contracts. Surely a deferral would be fair

[Snedds76]

10 minutes ago, jambmoz said:

How does she expect these players  to save us, if the season ever restarts after she’s suspended their wages🤷‍♂️ 

She obviously now knows that relegation isn't going to be happening why else would she play this hand. 14 team league next season with no more games this season and Celtic declared champions is my guess. 

[biffy]

50% wage or no wage and in all likelihood nobody will sign them for the foreseeable with the current situation 

[Five to One]

Just now, Snedds76 said:

She obviously now knows that relegation isn't going to be happening why else would she play this hand. 14 team league next season with no more games this season and Celtic declared champions is my guess. 

Some will call it ruthless opportunism, but I do believe she is protecting the interests of Hearts. Countless businesses and Organisations up and down the country are doing the same thing. Not saying it’s right; but it’s happening.

 

[eyesandears]

2 minutes ago, Snedds76 said:

She obviously now knows that relegation isn't going to be happening why else would she play this hand. 14 team league next season with no more games this season and Celtic declared champions is my guess. 

Don't see it. Rangers, Aberdeen, Ayr, Dundee, Dunfermline and others will try to block that. All have higher stakes to lose if season called to a halt now.

[Snedds76]

1 minute ago, eyesandears said:

Don't see it. Rangers, Aberdeen, Ayr, Dundee, Dunfermline and others will try to block that. All have higher stakes to lose if season called to a halt now.

Personally think eventually their hand will be forced as don't think there's any chance of football being played for months and months. Again only my humble opinion. 

[jambmoz]

5 minutes ago, Snedds76 said:

She obviously now knows that relegation isn't going to be happening why else would she play this hand. 14 team league next season with no more games this season and Celtic declared champions is my guess. 

Possibly, I know she has to protect the club but it just doesn’t look good. Players will think twice about joining us in future

[Five to One]

3 minutes ago, eyesandears said:

Don't see it. Rangers, Aberdeen, Ayr, Dundee, Dunfermline and others will try to block that. All have higher stakes to lose if season called to a halt now.

There’s no way all the clubs are going to agree. The SPFL and SFA can kick the can down the road all they like, but if they don’t make a decision I can see a stalemate and Scottish Football imploding in on itself. 

[biffy]

That sky article, is that not just what was I. First statement. Accept 50% or mutually terminate 

[Jamboelite]

3 minutes ago, jambmoz said:

Possibly, I know she has to protect the club but it just doesn’t look good. Players will think twice about joining us in future

Money talks and players wont give a shit further down the line.

[Five to One]

1 minute ago, jambmoz said:

Possibly, I know she has to protect the club but it just doesn’t look good. Players will think twice about joining us in future

No they won’t. Players signed for us under Romanov even during the batsh*t years. This is extraordinary circumstances. There is no loyalty in football. 

[Snedds76]

3 minutes ago, jambmoz said:

Possibly, I know she has to protect the club but it just doesn’t look good. Players will think twice about joining us in future

She'll say if she doesn't do it then there might no be a club left to protect. No way she's done this without knowing something. 

[heartsfc_fan]

Players like Hickey, Henderson, Cochrane and Irving won't be on much. The government £2,500 thing might just about cover them?

 

Naismith is staying.

 

Bozanic, Brandon, Dikamona (gone), Langer, Avidijai and Moore out of contract in May. So will probably all be away. Moore we might be able to cover wages.

Pereira and Meshino will be away due to loans. Both Manchester clubs will cover their wages no bother.

Sibbick back to Barnsley but out of contact come May? Might be back?

 

The rest....who knows.

Would like to keep Clare, Smith, Boyce, Washington, Haring, Souttar and Halkett.

 

I guess we'll wait and see.

[gorgie rd eh11]

7 minutes ago, jambmoz said:

Possibly, I know she has to protect the club but it just doesn’t look good. Players will think twice about joining us in future

 

 No they won't.