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

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Stone1992
Just now, MrBones said:

There's something like 4 home games left, most of the crowd have season tickets but we can't survive 4 games without cutting wages in half? 

What about all the other income that we are missing out on?

 

Don’t hurt yourself thinking about it 

 

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HeartOfWestLothian
8 minutes ago, IveSeenTheLight said:

This was posted on an Aberdeen forum.

i dismissed it as pish but maybe it has merits

 

5EEBB3B1-F1C0-482F-8F8E-374BCBE58A87.thumb.jpeg.00a82dfed8059605358a87a09c1cca75.jpeg

It's clearly absolute nonsense. 

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Suso Santana
1 minute ago, Vlad Magic said:


Is your pea sized brain able to post something constructive please?

 

 

 

Aye, but it would get brushed over. 

Craig Levein oot?

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IveSeenTheLight
1 minute ago, Footballfirst said:

 

The figures were produced (by a Celtic fan) from the accounts of each of the clubs. Some clubs account for cash or deferred income (ST sales) in different ways, or have generous major shareholders who routinely cover any shortfalls. The table was only meant to have been indicative. 


Thanks for that, makes a bit of sense.

I did wonder at both our high monthly outgoings, but indicative would still be a worrying consideration

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

Hate to say it but i can believe that. The amount of money we've wasted is ridiculous. Players on 4 year deals, loan managers, Spunking money on the new manager while the old manager and some of his cronies are still here.  etc etc

Recruitment has been awful but

 

No other club has players onlong term deals?

No other club is paying ex coaching staff with a new coaching staff in place?

No other clubs have loan managers or equivalent?  It was mentioned Gary Naysmith replaced someone else but job title changed slightly.

 

Gary Locke will be getting it next for us having a club ambassador when I'd imagine others have similar.  But if it had been Robbo still in situ, no one would have batted an eyelid

Edited by DETTY29

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Francis Albert

In the grand scheme of things the troubles of football clubs and players is trivial. But I think some are a bit blasé. Not all Hearts playing staff are on good wages. And if this goes on as I suspect it will for longer than 5 or 6 months then for those earning a decent wage  it will have a significant impact on their total   football earnings which for the majority who don't get continued income from within the game will impact on their standard of living after their football career ends.

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Sir Gio
1 minute ago, Gordon Ramsay said:

This may well happen to other clubs but it is very concerning we are in this situation so quickly. Maybe she left the finances to Craig. In fact they probably worked them out together. Both as incompetent as each other. 

Irony the high performing revenue from the stand, which was sound,  is now rebounding we aren't ALLOWED to use it.

 

Its not her decisions honestly its not 

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Vlad Magic

As is always the case when it comes to making decisions, Ann leads from the front.

 

Peoples livelihoods on the line and she has not separated the high from the low earners.

 

All are being asked to take the strain.

 

Empathy throughout that statement.

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Riccarton3
59 minutes ago, Suso Santana said:

 

People have been saying Sevco are on a shoogly peg for years, there's a million page thread on it. It never seems to happen. 

Just read this morning that one of their millionaire fans is ready to plow more money into the club. 

the million pound thread covers their liquidation

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Shanks

So the players choice is - 

 

- Accept 50% reduction and carry on.

- Leave for nothing and then get paid nothing.

- Reject the reduction and carry on with their contract as normal.

 

 

I wonder what choice our bunch will take! 

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jock _turd

Not wanting to be too alarmist but really how long can the club continue without income and major out goings each month? I reckon we could be tits up very shortly! So what AB is doing is going to stem the flow of money but will it be enough to keep us afloat? I have my doubts to be honest other than FOH pledges the club is not generating a bolt. Worrying times. 

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DETTY29
Just now, Footballfirst said:

The EFL is to provide a £50m short term relief fund for its clubs to help with cash flow problems.

SFA £1.5m.

 

Its where we are..

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Tynie Tom
24 minutes ago, Suso Santana said:

 

Much are they on? 

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

Agree with this.  

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Seaside jambo

Think a lot of clubs up and down the country will find the next few months difficult. As many have said we are the first but won’t be the last 

We have just opened the jar o worms just watch the other clubs problems come to the fore 

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Captain Canada
Posted (edited)
9 minutes ago, MrBones said:

There's something like 4 home games left, most of the crowd have season tickets but we can't survive 4 games without cutting wages in half? 

 

It's not just 4 league games though. It's the whole conference side, hospitality, catering,  a cup semi final, no season ticket money and the potential for this to impact next season too.  We probably get between 3-4,000 walkups per game too which, at say an average of £20, would come to a minimum of £240k in ticket sales alone for 4 games. Add the fact we had a £400k shortfall already and it's clear why Budge has acted so quickly. 

Edited by Captain Canada

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Suso Santana
1 minute ago, Riccarton3 said:

the million pound thread covers their liquidation

 

He said Sevco, 

Still plenty of pages of them. 

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Last Laff
4 minutes ago, Stone1992 said:

What about all the other income that we are missing out on?

 

Don’t hurt yourself thinking about it 

 


You seriously believe that “all that other income” that the club misses out on would cover 50% of the clubs weekly wage?

 

Hopefully the club put season tickets all soon very soon regardless of the uncertainty I’m sure it would assist cover this. 

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Suso Santana
5 minutes ago, HeartOfWestLothian said:

It's clearly absolute nonsense. 

 

Someone is saying the cash reserves and operating costs match hearts financial accounts published on their website in 2019.

 

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Special Officer Doofy
19 minutes ago, Suso Santana said:

 

You're feckin made of money. 


I’m not actually, sadly. If I was, I’d be tossing bills at it. As it is, I’ll do what I can to help.

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gashauskis9
27 minutes ago, 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.. 

 

 

Celtic the global brand who rely heavily on off the field revenue? They’ll be struggling soon as well believe me.  Higher the climb, bigger the fall etc.

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Jap Jambo
43 minutes ago, Longshanks said:

So if someone like Hickey doesn't accept a 50% wage reduction then we are going to let him just walk away from his contract at the club? 

 

****.

 

he may well have time to regret not signing a contract extention.

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Last Laff
2 minutes ago, Longshanks said:

So the players choice is - 

 

- Accept 50% reduction and carry on.

- Leave for nothing and then get paid nothing.

- Reject the reduction and carry on with their contract as normal.

 

 

I wonder what choice our bunch will take! 


Perhaps they will be advised that rejecting both will lead to administration which will lead to redundancy. 
You would have hoped the SFA could help with guaranteed Semi final ticket sales at a later date if the club is having to go to such drastic extremes so early.  

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Last Laff
Just now, Jap Jambo said:

 

he may well have time to regret not signing a contract extention.


Why?  If he can leave for nothing he will get a great wage elsewhere - probably in Glasgow. 

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Skiba

Need to ditch the womens team, Levein and McPhee for starters.

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Last Laff

Chances of Christophe Berra being the first player to accept and lead from the front? 

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Riccarton3
3 minutes ago, Suso Santana said:

 

He said Sevco, 

Still plenty of pages of them. 

what do you think of their model? this millionaire of whom you speak will be ploughing in to clear 20 mil of debt.

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Malinga the Swinga
1 minute ago, Footballfirst said:

The EFL is to provide a £50m short term relief fund for its clubs to help with cash flow problems.

Whilst it was only £500k, and I am not demeaning it at all as I would love £500k, the SRU had fund sorted for clubs on Sunday. The Scottish governing bodies of football offer precisely zero, zilch, nada, because they have no funds and live hand to mouth. They do however squander a large amount of money paying people like Doncaster and Petrie who most assuredly contribute nothing in turn to Scottish football.

 

We shall see who is still standing after this crisis is solved. The odds on all existing clubs still being here when we resume must be very big. Then again, other than Hearts, I couldn't give a flying **** whether they survive or not.

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Hectormasson
53 minutes ago, Mikey1874 said:

 

We'd have players on higher wages

Maybe better players and not be rock bottom and going down ??

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soonbe110
3 minutes ago, jock _turd said:

Not wanting to be too alarmist but really how long can the club continue without income and major out goings each month? I reckon we could be tits up very shortly! So what AB is doing is going to stem the flow of money but will it be enough to keep us afloat? I have my doubts to be honest other than FOH pledges the club is not generating a bolt. Worrying times. 

She is trying to force the hand of the SPFL to void the season undoubtedly or at least agree to no relegation. If that happens our season tickets can go on sale immediately and that would probably raise over £2m of cash in the first couple of weeks (£400*5-6,000 fans).  Problem solved. Similar for at least half of the clubs around the country. 

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Bull's-eye
12 minutes ago, Vlad Magic said:


Is your pea sized brain able to post something constructive please?

 

 

 

Over estimated.

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Suso Santana
Just now, Riccarton3 said:

what do you think of their model? this millionaire of whom you speak will be ploughing in to clear 20 mil of debt.

 

I don't think much about them at all, never mind their model. 

All i know is that people having been wanting them to go bust again for years and they always get money from somewhere. 

You've got to remember that there's dafties all over the world that support them. 

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Footballfirst
1 minute ago, Longshanks said:

So the players choice is - 

 

- Accept 50% reduction and carry on.

- Leave for nothing and then get paid nothing.

- Reject the reduction and carry on with their contract as normal.

 

 

I wonder what choice our bunch will take! 

I'm unsure about the respective rights of employers and employees in terms of contracted employees.

 

They can be made redundant, but clubs could be open to legal action for breach of contract.

 

If a company is struggling to pay wages, then players with terminated contracts may find it difficult to recoup the funds through the courts, particularly if the company could demonstrate its financial constraints and what it had attempted to do to keep people employed. 

 

The SFA/SPFL rules would probably kick in with an enforced registration embargo for non payment of wages, until the "football creditor" was paid off in full.

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soonbe110
7 minutes ago, Tynie Tom said:

Agree with this.  

They aren’t though. No-one’s salary going below £22k 

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alwaysthereinspirit
1 hour ago, Diadora Van Basten said:

I think it’s good we are being pro active on this but I can’t see many people being in a position to accept a 50% pay cut.

No one wants to take a 50% pay cut. Unfortunately because of the profession they are in and at this particular time. There are no new jobs to just move onto. No player is going to get signed up by a new club for quite a while. Unless its a talent who had years left on a contract that just got torn up.

50% of whatever is better than 100% of zero. 

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Dannie Boy

Hibs new owner will be assessing his commitments and rest assured Hibernian FC won’t be his biggest concern when it comes to cutting his cost burden. 

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Suso Santana
1 minute ago, Bull's-eye said:

 

Over estimated.

 

Another great contribution from you 🤣

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soonbe110
8 minutes ago, Captain Canada said:

 

It's not just 4 league games though. It's the whole conference side, hospitality, catering,  a cup semi final, no season ticket money and the potential for this to impact next season too.  We probably get between 3-4,000 walkups per game too which, at say an average of £20, would come to at a minimum of £240 in ticket sales alone for 4 games. Add the fact we had a £400k shortfall already and it's clear why Budge has acted so quickly. 

Yep, SFA could quite easily give funds to four semi-finalists based on projected income to come when they are played, except the SFA is skint because they are buying hampden. 

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Riccarton3
2 minutes ago, Suso Santana said:

 

I don't think much about them at all, never mind their model. 

All i know is that people having been wanting them to go bust again for years and they always get money from somewhere. 

You've got to remember that there's dafties all over the world that support them. 

Once was enough for me. Who would have ever predicted it in their lifetime?

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8skacel8
5 minutes ago, Last Laff said:


Perhaps they will be advised that rejecting both will lead to administration which will lead to redundancy. 
You would have hoped the SFA could help with guaranteed Semi final ticket sales at a later date if the club is having to go to such drastic extremes so early.  


Would be a decent idea. Could even out the tickets on sale now as they have said the competition will definitely finish at some point. 
 

Would be worth about 500k-600k to each of the 4 teams in the semi final.

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Suso Santana

On the plus side, who all forgot about the corona virus?

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Taffin
1 minute ago, alwaysthereinspirit said:

No one wants to take a 50% pay cut. Unfortunately because of the profession they are in and at this particular time. There are no new jobs to just move onto. No player is going to get signed up by a new club for quite a while. Unless its a talent who had years left on a contract that just got torn up.

50% of whatever is better than 100% of zero. 

 

Or they could refuse and continue to receive 100% or be paid off in full. I hope none of them take those two options.

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tolcross lad
26 minutes ago, Francis Albert said:

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. 

 

 

We are in debt to Budge from the last financial year circa £1m.It was clear things were tight this year when Stendel came in and it would not surprise me if a further loan has been made.

 

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Diadora Van Basten
1 minute ago, alwaysthereinspirit said:

No one wants to take a 50% pay cut. Unfortunately because of the profession they are in and at this particular time. There are no new jobs to just move onto. No player is going to get signed up by a new club for quite a while. Unless its a talent who had years left on a contract that just got torn up.

50% of whatever is better than 100% of zero. 

At the end of the day the players don’t have to accept the salary cuts unless we go into administration. 

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jambopilms

I don't see how any club will cope. No ticket sales, no help from sfa , the benefactors will have their own money problems, if we do put season ticket on sale many won't be able to afford one now.

Many months of salary to pay with no income at all.

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Jambo diehard

Cannot form a 100% opinion on all of this, reasons, implications, cause, blame etc but it's still a nervy situation, what would the club actually do to players, staff, who refuse? 

 

And this is just the START of it, not only for us but also the rest of Scottish fitba which if honest other than being rival teams, I care not a jot about. 

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MrBones
16 minutes ago, Stone1992 said:

What about all the other income that we are missing out on?

 

Don’t hurt yourself thinking about it 

 

What about it? Jesus, some people are quick to chuck around insults!

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jackal
30 minutes ago, Vlad Magic said:

Awaiting a statement from Hibs.

 

 

 

Surely with Hibs fantastic financial management they will be giving their players a rise to help them get through this.

Much bigger companies than Hearts have offered their staff unpaid leave and SSP yet some on here think its unthinkable to cut wages that are far higher than your average employee.

Many insurers are not paying out for whatever reason and thats why insurance has all its clauses, no insurer ever wants to pay out and if they dont have to they wont.

I think player contracts in the future will take situations like this into account with all manner of clauses added. You cannot account for something like this.

I wouldnt consider diverting FOH money either thats not what its for.

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Jap Jambo
7 minutes ago, Last Laff said:


Why?  If he can leave for nothing he will get a great wage elsewhere - probably in Glasgow. 

 

Undoubtedly, but regardless of his talent his economic value has declined as a result of the virus's impact on football. 

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