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Bunny Munro

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

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Diadora Van Basten
Just now, Diego10 said:

We could have gone for a 'please buy Season Tickets' approach but are deciding to cut costs rather than store up liabilities.  

 

With zero income I really don't think there's many clubs in Scotland who won't be doing similar soon, especially as our wage to turnover ratio is well below many teams

I suspect the main problem is that just now is when clubs start selling season tickets for next year and without this income then they have a hole in their cash flow.

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jambopilms
Just now, Fozzyonthefence said:


Well, you’re right there - the new stand, built by her brother in law, went £12m over budget.  

It might be over the budget (like many construction projects) but it has had little effect on our budgets and has given us little or no debt. 

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Kidd’s Boots

I have to admire AB for taking such swift prudent and decisive action to ensure the club can remain an on going concern during these difficult times. Making sure the life blood of the club, admin staff, groundstaff, non playing staff get at least the equivalent of living wage for the short term shows great leadership and hopefully will ease some of the concern people will have living week to week. I have no doubt had the club only missed the match day revenue streams until the Summer these steps wouldn't have to be taken, but missing all the other food, drink and hospitality has been the clincher. All clubs will budget for reduced income closed season, but not having the clarity of league position and the payouts will also be worrying every other club in the league.

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Politbordeaux
2 minutes ago, part_time_jambo said:

So you want people on £300 a week to donate some of their wages to help players who are on £3000 a week?

If folk can afford it and they can step forward then why not?

I'm sure you don't want admin 2 on your hands.

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Fozzyonthefence
1 minute ago, jambopilms said:

It might be over the budget (like many construction projects) but it has had little effect on our budgets and has given us little or no debt. 


Until now.

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Footballfirst

There are already many large companies e.g. airlines and hotel chains asking their employees to take unpaid leave.

 

Those sort of decisions put Hearts proposed 50% reduction into perspective.

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kingantti1874
Just now, Fozzyonthefence said:


Until now.


We don’t have any debt

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rory78

If Levein had an ounce of decency he'd leave now rather than plunder on getting wage after wage after what he's done!!

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Fozzyonthefence
1 minute ago, Politbordeaux said:

If folk can afford it and they can step forward then why not?

I'm sure you don't want admin 2 on your hands.


I’m sure the players can afford it more!

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Holyrood_Hearts

People have to realise in any other circumstances other than the one we all currently face, this announcement wouldn’t be necessary. The exceptional circumstances have dictated this. 
 

The CV is going to be something every supporter & club is effected by & I fully support the club here. If she didn’t do something about it we might well be facing an Admin2 down the line so being proactive should be supported by all. 

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Prof

New definition of success seems to be buying Hearts for £2.5 m. , collecting FOH money amounting to £8.2 million and expecting to stay on as CEO. Some people might call it a scam.

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Fozzyonthefence
Just now, kingantti1874 said:


We don’t have any debt


But clearly we will if the players refuse to take a 50% cut.  Which wouldn’t have been necessary if the stand hadn’t gone £12m over budget.

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Vlad Magic
5 minutes ago, Prof said:

Budge paid £2.5 million for 100% of Hearts. FOH have contributed £8.2 million and now apparently we are back in a precarious financial position as evidenced by her statement. Season ticket sales are around 13k, no money has been offered to season ticket holders as a refund. There are only 10 games to go and we are bottom of the SPFL. Yet apparently we are in financial trouble. And you call me thick for saying she should go. Next thing you’ll be saying she’s done a great job.


She has done and hopefully will continue to do a great job.

 

I can’t help your lack of grey matter unfortunately.

 

You are stuck forever being as thick as a pound of mince.

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Malinga the Swinga
1 hour 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. 
 

 

Stupid bosses of BA, Delta, Swiss Air and Virgin. Fancy ordering new planes when they could have continued  with older ones that weren't safe and would have failed safety inspections. Didn't they realise an unknown pandemic was going to occur and lead to a global depression. Everyone else did (well, apart from Presidents, Prime Ministers, First Ministers, Religious Ministers, CEO's, company bosses, self employed people, employed people, unemployed people, school children and every other ****in individual).

 

Seriously wonder why some people are allowed to access internet. Their carers should take better care of them.

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Malinga the Swinga
1 hour 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. 
 

 

Stupid bosses of BA, Delta, Swiss Air and Virgin. Fancy ordering new planes when they could have continued  with older ones that weren't safe and would have failed safety inspections. Didn't they realise an unknown pandemic was going to occur and lead to a global depression. Everyone else did (well, apart from Presidents, Prime Ministers, First Ministers, Religious Ministers, CEO's, company bosses, self employed people, employed people, unemployed people, school children and every other ****in individual).

 

Seriously wonder why some people are allowed to access internet. Their carers should take better care of them.

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Jamhammer
3 minutes ago, Prof said:

New definition of success seems to be buying Hearts for £2.5 m. , collecting FOH money amounting to £8.2 million and expecting to stay on as CEO. Some people might call it a scam.

Yes. Those people are called cretins

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jambopilms
2 minutes ago, Fozzyonthefence said:


But clearly we will if the players refuse to take a 50% cut.  Which wouldn’t have been necessary if the stand hadn’t gone £12m over budget.

The cost of the stand has been covered by benefactors though. It wasn't money that would have just gone in the bank. It hasn't effected you, me or the players

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Malinga the Swinga
3 minutes ago, Prof said:

New definition of success seems to be buying Hearts for £2.5 m. , collecting FOH money amounting to £8.2 million and expecting to stay on as CEO. Some people might call it a scam.

Please mods, do the right thing and empty this halfwit.

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Dannie Boy

This will be a first move in protecting the Club. Don’t borrow unless you have too and certainly not if you have no guarantee of how the repayments will be made. 
You can’t sell Season Tickets for something that’s up in the air at the moment. 
Other clubs will follow this move in the coming days. 
 

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KyleLafferty

Why are people failing to see that players on 3-4K will be still getting a shed load of money for 3-4 months? If it means there is a Hearts to support when the season starts back up then kick on. Could be a blessing if some players leave.

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Dannie Boy
4 minutes ago, Prof said:

New definition of success seems to be buying Hearts for £2.5 m. , collecting FOH money amounting to £8.2 million and expecting to stay on as CEO. Some people might call it a scam.

 Did AB pocket the £8.2m or was it used in the running of the Club?

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MrBones

Never thought we'd be back to not paying players their full wage so soon after Vlad. I know you couldn't forsee covid but we shouldn't be the first and only team doing this considering how much money goes in from the fans and benefactors

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Malinga the Swinga
1 hour 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. 

 

 

Yes, it is. I can almost see you smiling as you typed your post. So unlike you to be negative.

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Diego10
1 minute ago, MrBones said:

Never thought we'd be back to not paying players their full wage so soon after Vlad. I know you couldn't forsee covid but we shouldn't be the first and only team doing this considering how much money goes in from the fans and benefactors

There is zero chance we'll be the only team doing this

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Suso Santana
12 minutes ago, Prof said:

Budge paid £2.5 million for 100% of Hearts. FOH have contributed £8.2 million and now apparently we are back in a precarious financial position as evidenced by her statement. Season ticket sales are around 13k, no money has been offered to season ticket holders as a refund. There are only 10 games to go and we are bottom of the SPFL. Yet apparently we are in financial trouble. And you call me thick for saying she should go. Next thing you’ll be saying she’s done a great job.

 

They're delusional and clueless man, they've resorted to calling people thick instead of saying "hibs" 

Simpletons. 

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jambopilms

Some players going from 4k to 2k a WEEK. How will they cope. They are doing literally nothing for God knows how long. I do feel for the general staff but there are many others out there in worse situations. I do worry we are the first to do it but surely we won't be the first to do this and it will turn out to be a very smart move

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FWJ
2 hours ago, ...a bit disco said:

Some laughable comments on this thread.

 

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

This.

Very much this.

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robbogoal

No one could have planned for this coming. Today alone 2 of my pals who runs successful businesses have had to stop trading and lay off staff. 

 

100% we will not be the only club to do this. 

 

Other businesses I know are also offering 50% reduced salaries due to ZERO income just now & for the foreseeable. 

 

What the club didnt say in its statement is that they’ve asked part time staff to work for free. 

 

Ive not read the whole thread so don’t know if it’s been suggested but see if you were planning on going to the semi how about putting the cost of your tickets to the club or FoH to help out? Obviously if it’s affordable to you. It’s rocky times for everyone just now. 

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Sir Gio
1 minute ago, Suso Santana said:

 

They're delusional and clueless man, they've resorted to calling people thick instead of saying "hibs" 

Simpletons. 

As of this time last week football was to continue.

 

Who was predicting total lockdown of all revenue streams. 

 

Also hypocrisy from fans when much of the cash has been invested in the team. 

 

She could have saved it of course for a rainy day. 

 

I'm sure you predicted there would be an epidemic 

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Nucky Thompson

I've not been her biggest fan lately, but I'm glad she's the one to guide us through this crisis 

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Paul Shark
2 hours ago, the_jailer said:

Maybe her brother could give us back a couple of million 

50% even !

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Malinga the Swinga
1 minute ago, MrBones said:

Never thought we'd be back to not paying players their full wage so soon after Vlad. I know you couldn't forsee covid but we shouldn't be the first and only team doing this considering how much money goes in from the fans and benefactors

Why not wait a few days and see what other clubs follow suit. Not sure if you have watched news programmes or Bloomberg, but the leisure and entertainment industry, which we are in, is on its knees and facing oblivion. No money coming in and loads going out. 

 

St Johnstone and Kilmarnock operate alongside hotels and catering to subsidise their football. These industries are crippled and unless radical action is taken now, they will simply die.

 

No business owner worth their salt pontificates and dithers over this type of decision because frankly, we are on life support and failure to act now would be a dereliction of duty. We can survive, but  that survival will have a greater chance of success if we act, as we have, immediately.

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jambopilms

She states she has done it so we CAN weather the storm. Many clubs wont Weather the storm

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b-reed

has Ann Budge spoke to the players union before releasing the statement about 50% wage cut... if not I can see then getting involved.... what ever way you look at it its a disaster for hearts and there supports....

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GorgieRules22

If you have half a brain you look at the statement and say well done that action was required.

 

If you don’t then you slate everyone at the club.

 

Its that simple.

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AndyNic
23 minutes ago, part_time_jambo said:

So you want people on £300 a week to donate some of their wages to help players who are on £3000 a week?

 

Hahaha was just thinking this. 

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GorgieRules22
Just now, b-reed said:

has Ann Budge spoke to the players union before releasing the statement about 50% wage cut... if not I can see then getting involved.... what ever way you look at it its a disaster for hearts and there supports....

A disaster ?

 

**** off ya slavering wreck.

 

 

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soonbe110
1 hour ago, Jap Jambo said:

 

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

Will that be when he is making his way to the east side of Glasgow? 

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Malinga the Swinga
8 minutes ago, Suso Santana said:

 

They're delusional and clueless man, they've resorted to calling people thick instead of saying "hibs" 

Simpletons. 

I don't believe you are thick. Not sure who you support either.do  I believe you are an attention seeking troll though.

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Suso Santana
2 minutes ago, Sir Gio said:

As of this time last week football was to continue.

 

Who was predicting total lockdown of all revenue streams. 

 

Also hypocrisy from fans when much of the cash has been invested in the team. 

 

She could have saved it of course for a rainy day. 

 

I'm sure you predicted there would be an epidemic 

 

I take your point but who could have seen us sitting bottom of the league after winning the championship at a canter. All the money we've spent as fans, all the money levein has been given and wasted, all the money the benefactors have ploughed in with no return. 

This is bigger than what is happening just now. 

 

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Vlad Magic
9 minutes ago, Suso Santana said:

 

They're delusional and clueless man, they've resorted to calling people thick instead of saying "hibs" 

Simpletons. 


Your average Hibs fan is brighter than you.

 

 

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Dannie Boy
23 minutes ago, Prof said:

no money has been offered to season ticket holders as a refund

Season Tickets are non-refundable after they have been purchased regardless of how many matches have been played in a season. No discount or refund will be offered for any matches that have taken place which you missed, or that you could not attend, under any circumstances.

No refund for a Season Ticket will be made if any match is postponed or abandoned and played upon a future date, or for any adverse weather conditions. However, admission to the rearranged match will be included in your Season Ticket.

 

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MrBones
8 minutes ago, Diego10 said:

There is zero chance we'll be the only team doing this

No doubt, I just thought we'd be in a stronger position than this, though actually when you look at the money we've wasted and our league position, in not really surprised

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Jap Jambo
31 minutes ago, Geoff Kilpatrick said:

This is very true. However, effectively all income streams have been shut off for all football clubs so the idea that this is just us isn't credible.

 

Ironically, if you had a high percentage servicing debt you are more likely to get largesse from the banks and other lenders at present.

 

Excellent point.

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Suso Santana
Just now, Vlad Magic said:


Your average Hibs fan is brighter than you.

 

 

 

Give up mate, you might as well just say " I like plastic dinosaurs"

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Footballfirst
4 minutes ago, robbogoal said:

 

What the club didnt say in its statement is that they’ve asked part time staff to work for free. 

 

I did wonder about that as I had suggested, earlier today in another thread, that laying off part time staff such as academy coaches, physios, hospitality etc., should be considered.

 

I think it can be taken as read as having happened when the statement refers to Academy Operations, the Supporters Bar and other business areas being shut down.

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The Real Maroonblood
22 minutes ago, Footballfirst said:

There are already many large companies e.g. airlines and hotel chains asking their employees to take unpaid leave.

 

Those sort of decisions put Hearts proposed 50% reduction into perspective.

That'll be these large companies with assets of billions of pounds. 

Disgusting.

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Malinga the Swinga
Just now, Suso Santana said:

 

I take your point but who could have seen us sitting bottom of the league after winning the championship at a canter. All the money we've spent as fans, all the money levein has been given and wasted, all the money the benefactors have ploughed in with no return. 

This is bigger than what is happening just now. 

 

To clarify your post, Hearts asking staff to take a pay cut is bigger than a global pandemic that has killed thousands, hospitalised thousands more, and threatens the global economy on a scale that no one has ever seen before.

 

I think you have lost your sense of perspective.

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jambopilms

I'm guessing the folk having a dig aren't running their own businesses at the moment. 

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Vlad Magic
Just now, Suso Santana said:

 

Give up mate, you might as well just say " I like plastic dinosaurs"


I am not the one having a dig at our owner for taking the necessary measures to protect our club from potential financial ruin.

 

An owner who is leading from the front in extraordinary circumstances.

 

You piss from the outside in.

 

The supporters admiration for her grows.

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