soonbe110 Posted March 26, 2020 Share Posted March 26, 2020 2 minutes ago, McCrae said: Scottish Football is not a good example of how to do things. We were supposed to be doing it differently. I wasn’t referring to Scottish football. I was referring to businesses in general. Quote Link to comment Share on other sites More sharing options...
McCrae Posted March 26, 2020 Share Posted March 26, 2020 2 minutes ago, soonbe110 said: Think we got almost enough money from the concert to fund the ladies team. We were paid nothing. Quote Link to comment Share on other sites More sharing options...
HillmanHearts Posted March 26, 2020 Share Posted March 26, 2020 Good statement from Mrs Budge. Strong, clear and informative. He professionalism and dedication shine though. As does her empathy and understanding for her work force. I still think the Murray email was ill-advised ( in construction and timing ) and feel that she will be privately pissed off with him. Quote Link to comment Share on other sites More sharing options...
The Real Maroonblood Posted March 26, 2020 Share Posted March 26, 2020 16 minutes ago, TypoonJambo said: I honestly think theres a palpable feeling of capital city envy from those west coast hacks. It pains them to the core the fact that a team from a more cultured, socially acceptable, tourist loved, artistically adored, world renowned, cleaner, less biggotted and all round better city can be better run whist maintaining a proper social ethic. Quote Link to comment Share on other sites More sharing options...
McCrae Posted March 26, 2020 Share Posted March 26, 2020 (edited) 1 minute ago, soonbe110 said: I wasn’t referring to Scottish football. I was referring to businesses in general. Most companies fail because they don’t have enough cash. Edited March 26, 2020 by McCrae Quote Link to comment Share on other sites More sharing options...
davemclaren Posted March 26, 2020 Share Posted March 26, 2020 1 minute ago, soonbe110 said: Indeed. And it was very well written and easy to understand. That’s why I recommended it to a poster. I think I still have a copy if he wants it. I’m sure I have a 1977 edition upstairs somewhere. Quote Link to comment Share on other sites More sharing options...
Nookie Bear Posted March 26, 2020 Share Posted March 26, 2020 37 minutes ago, Jambo-Fox said: The more I see and read the more I’m beginning to realise there are a lot of people that don’t like Hearts! I think they are jealous of what a great club we are. I think they find it hard to grasp the high standards that we live by and the values by which we judge ourselves! Unfortunately Scottish football is a cesspit and we have to live alongside these individuals. Unless there is football reconstruction in Britain and we can find better places to play and watch our team! That's the kind of arrogant shite that gets pinned to dressing room walls before we get our arses felt by the likes of St Johnstone and Hamilton. We are no better than any other club* And you can stick your British League. *except celtic and rangers, who are, indeed, vermin Quote Link to comment Share on other sites More sharing options...
kila Posted March 26, 2020 Author Share Posted March 26, 2020 (edited) 10 minutes ago, McCrae said: Women’s football and the Tech hub are 2 very public examples. We might want to support these areas, but if you look at how little cash we have, it was madness to do this. Hosting a concert just before the start of the season and damaging our new pitch, whilst not getting any money to do it, is a less costly, but far more embarrassing failure. One of the main selling points of AB taking over and the transfer to fan ownership was a promise to make sure we didn’t jump from one financial crisis to another. Well how is that working out? The women's football is being funded through the benefactors is it not? We get a big amount of money from them and there is some clauses. Plus the women's team have got their own sponsorship deals now too. I'm not aware of the costs for the tech hub but I believe it is another community thing the benefactors are helping with? Edited March 26, 2020 by kila Quote Link to comment Share on other sites More sharing options...
Hearts007 Posted March 26, 2020 Share Posted March 26, 2020 1 minute ago, kila said: The women's football is being funded through the benefactors is it not? And they've got their own sponsorship coming in too. I'm not aware of the costs for the tech hub but I believe it is another community thing the benefactors are helping with? Thats what i thought too Quote Link to comment Share on other sites More sharing options...
1971fozzy Posted March 26, 2020 Share Posted March 26, 2020 1 hour ago, graygo said: Did you read the statement? She said we budget for 2-3 months without income (paraphrasing). That is being financially prudent. Or should she have seen this all coming? of course she should have seen it coming. According to those with agendas (including arsehole has-been pundits) The same people would be hammering her if we had a nest egg of £5m in the bank for not spunking it on players. Kind of sums these folk up. Quote Link to comment Share on other sites More sharing options...
McCrae Posted March 26, 2020 Share Posted March 26, 2020 Just now, kila said: The women's football is being funded through the benefactors is it not? And they've got their own sponsorship coming in too. I'm not aware of the costs for the tech hub but I believe it is another community thing the benefactors are helping with? No the funding for this is coming directly from the club. This was discussed at the AGM. Quote Link to comment Share on other sites More sharing options...
HoGwash Posted March 26, 2020 Share Posted March 26, 2020 2 hours ago, Francis Albert said: I have only got as far as "we are in no worse ( or better ) position than other clubs" I have just read FOH telling us about our pledges being critical to Hearts economic health. How many clubs have fans pumping in £1.5 m a year. Surely we must be in a better position than most especially given how well she tells us she is managing the club's finances. Most people would have read the full statement before commenting in case people perceived that you just couldn't wait to make a sarcastically negative comment. Quote Link to comment Share on other sites More sharing options...
davemclaren Posted March 26, 2020 Share Posted March 26, 2020 3 minutes ago, kila said: The women's football is being funded through the benefactors is it not? And they've got their own sponsorship coming in too. I'm not aware of the costs for the tech hub but I believe it is another community thing the benefactors are helping with? Tech Hub sponsored by Baillie Gifford it seems. Their vanity project... https://www.google.co.uk/amp/s/www.scotsman.com/sport/football/hearts/latest-hearts-news/hearts-kicks-tynecastle-innovation-centre-1417432%3famp Quote Link to comment Share on other sites More sharing options...
McCrae Posted March 26, 2020 Share Posted March 26, 2020 32 minutes ago, davemclaren said: How many months reserves should we hold? If we want stability, which I thought we were trying to do, it should be at least 12 months. We are not a rich club, and clearly money is tight. Otherwise any unexpected thing could potentially force us into Administration again. Quote Link to comment Share on other sites More sharing options...
graygo Posted March 26, 2020 Share Posted March 26, 2020 3 minutes ago, McCrae said: If we want stability, which I thought we were trying to do, it should be at least 12 months. We are not a rich club, and clearly money is tight. Otherwise any unexpected thing could potentially force us into Administration again. How long would it take to get 12 months put away? Our wage bill is about £9m. Quote Link to comment Share on other sites More sharing options...
Francis Albert Posted March 26, 2020 Share Posted March 26, 2020 (edited) 11 minutes ago, HoGwash said: Most people would have read the full statement before commenting in case people perceived that you just couldn't wait to make a sarcastically negative comment. Neither sarcastic nor negative. Just an observation/question. I have since read the whole statement. It is a good and on the whole informative statement but I stand by my first comment. I won't repeat some of the to me extravagant praise. Two other points not yet mentioned I think. An assumption that football will resume in July or August seems optimistic and I hope we have plans if it doesn't resume until towards the end of the year. This is not IMO a negative comment just a realistic one. And I struggle to square the claim that we (ie the club) never spends money it doesn't have with the new debt owing to Ann/Bidco. Edited March 26, 2020 by Francis Albert Quote Link to comment Share on other sites More sharing options...
kila Posted March 26, 2020 Author Share Posted March 26, 2020 12 minutes ago, McCrae said: No the funding for this is coming directly from the club. This was discussed at the AGM. The benefactors put money into the club coffers, which gets used for various things. Quote Link to comment Share on other sites More sharing options...
kila Posted March 26, 2020 Author Share Posted March 26, 2020 7 minutes ago, McCrae said: If we want stability, which I thought we were trying to do, it should be at least 12 months. We are not a rich club, and clearly money is tight. Otherwise any unexpected thing could potentially force us into Administration again. 12 months of reserves cash! Not a single club has that, even the richest in the world as we're already seeing. Can I have a spliff too? Quote Link to comment Share on other sites More sharing options...
Hearts007 Posted March 26, 2020 Share Posted March 26, 2020 1 minute ago, kila said: 12 months of reserves cash! Not a single club has that, even the richest in the world as we're already seeing. Can I have a spliff too? 😄 Quote Link to comment Share on other sites More sharing options...
TyphoonJambo Posted March 26, 2020 Share Posted March 26, 2020 10 minutes ago, McCrae said: If we want stability, which I thought we were trying to do, it should be at least 12 months. We are not a rich club, and clearly money is tight. Otherwise any unexpected thing could potentially force us into Administration again. Jeezus mate, what you smokin? What club has that kind of dosh? Quote Link to comment Share on other sites More sharing options...
Gambo Posted March 26, 2020 Share Posted March 26, 2020 Good statement. Quote Link to comment Share on other sites More sharing options...
karipidis Posted March 26, 2020 Share Posted March 26, 2020 12 minutes ago, McCrae said: If we want stability, which I thought we were trying to do, it should be at least 12 months. We are not a rich club, and clearly money is tight. Otherwise any unexpected thing could potentially force us into Administration again. Jesus. Quote Link to comment Share on other sites More sharing options...
Pasquale for King Posted March 26, 2020 Share Posted March 26, 2020 2 hours ago, Ex member of the SaS said: The problems all return to Levein signing too many duff players on long contracts. Wages for rubbish is what is draining the coffers right now. hence the wage cut. As much it is true what you say even if we had good players and not wasted money cutbacks would still need to be made. We only keep enough cash in the bank to run for 2-3 months without an income, like most other clubs. Hence the reason Dortmund, Munich and Barca are doing it too. Quote Link to comment Share on other sites More sharing options...
The Internet Posted March 26, 2020 Share Posted March 26, 2020 4 hours ago, Natural Orders said: Anyone who buys the Sun paper should really have a serious look at themselves Quote Link to comment Share on other sites More sharing options...
McCrae Posted March 26, 2020 Share Posted March 26, 2020 5 minutes ago, karipidis said: Jesus. That’s a valuable contribution. How do you think we can avoid this type of problem in the future? Quote Link to comment Share on other sites More sharing options...
McCrae Posted March 26, 2020 Share Posted March 26, 2020 7 minutes ago, TypoonJambo said: Jeezus mate, what you smokin? What club has that kind of dosh? I think we can all name one which does or is not that far away from it in Scotland. Quote Link to comment Share on other sites More sharing options...
McCrae Posted March 26, 2020 Share Posted March 26, 2020 17 minutes ago, graygo said: How long would it take to get 12 months put away? Our wage bill is about £9m. Bingo... we are over spending! Quote Link to comment Share on other sites More sharing options...
soonbe110 Posted March 26, 2020 Share Posted March 26, 2020 31 minutes ago, McCrae said: We were paid nothing. Think you are mistaken. Why would we do it if we received nothing in return? Quote Link to comment Share on other sites More sharing options...
McCrae Posted March 26, 2020 Share Posted March 26, 2020 11 minutes ago, TypoonJambo said: Jeezus mate, what you smokin? What club has that kind of dosh? Celtic? Quote Link to comment Share on other sites More sharing options...
Agentjambo Posted March 26, 2020 Share Posted March 26, 2020 1 hour ago, soonbe110 said: Did he? Did he not? Quote Link to comment Share on other sites More sharing options...
Hearts007 Posted March 26, 2020 Share Posted March 26, 2020 Just now, McCrae said: Bingo... we are over spending! How much should our wage bill be in your op? Quote Link to comment Share on other sites More sharing options...
soonbe110 Posted March 26, 2020 Share Posted March 26, 2020 31 minutes ago, McCrae said: Most companies fail because they don’t have enough cash. Correct. First one you have got right. What chapter are you on? Quote Link to comment Share on other sites More sharing options...
McCrae Posted March 26, 2020 Share Posted March 26, 2020 Just now, soonbe110 said: Think you are mistaken. Why would we do it if we received nothing in return? It was stated by the club that we were paid nothing for the event. I agree we shouldn’t have done it for nothing, Quote Link to comment Share on other sites More sharing options...
soonbe110 Posted March 26, 2020 Share Posted March 26, 2020 32 minutes ago, davemclaren said: I’m sure I have a 1977 edition upstairs somewhere. Mines is a 1973. First year at Heriot-Watt in the grassmarket. That was an eye-opener. Quote Link to comment Share on other sites More sharing options...
gorgie rd eh11 Posted March 26, 2020 Share Posted March 26, 2020 6 minutes ago, McCrae said: That’s a valuable contribution. How do you think we can avoid this type of problem in the future? clairvoyance. Quote Link to comment Share on other sites More sharing options...
McCrae Posted March 26, 2020 Share Posted March 26, 2020 Just now, soonbe110 said: Correct. First one you have got right. What chapter are you on? Now since you are so Smart what’s your solution to stop this happening again? Quote Link to comment Share on other sites More sharing options...
McCrae Posted March 26, 2020 Share Posted March 26, 2020 Just now, gorgie rd eh11 said: clairvoyance. 😁 Quote Link to comment Share on other sites More sharing options...
soonbe110 Posted March 26, 2020 Share Posted March 26, 2020 34 minutes ago, kila said: The women's football is being funded through the benefactors is it not? We get a big amount of money from them and there is some clauses. Plus the women's team have got their own sponsorship deals now too. I'm not aware of the costs for the tech hub but I believe it is another community thing the benefactors are helping with? Correct Quote Link to comment Share on other sites More sharing options...
baxterd1974 Posted March 26, 2020 Share Posted March 26, 2020 28 minutes ago, McCrae said: If we want stability, which I thought we were trying to do, it should be at least 12 months. We are not a rich club, and clearly money is tight. Otherwise any unexpected thing could potentially force us into Administration again. 12 months, you live in an absolute dream land! Quote Link to comment Share on other sites More sharing options...
Last Laff Posted March 26, 2020 Share Posted March 26, 2020 1 hour ago, Mikey1874 said: Mondays, Tuesdays 6-7pm Saturday 2-5pm Sunday 12-3pm (other sports also) Is it on now? Isn’t on bbc sounds. Quote Link to comment Share on other sites More sharing options...
soonbe110 Posted March 26, 2020 Share Posted March 26, 2020 27 minutes ago, McCrae said: If we want stability, which I thought we were trying to do, it should be at least 12 months. We are not a rich club, and clearly money is tight. Otherwise any unexpected thing could potentially force us into Administration again. Following your guidance Celtic would have to have over £70m in the bank at any one time. Why would any club carry that amount of spare cash? Which companies are you aware of that carry that level of cash reserves? Quote Link to comment Share on other sites More sharing options...
Turkishcap Posted March 26, 2020 Share Posted March 26, 2020 Cheers for the replies, got the pc out vpn on Understandable I suppose. Quote Link to comment Share on other sites More sharing options...
Mikey1874 Posted March 26, 2020 Share Posted March 26, 2020 1 hour ago, Last Laff said: Didn’t realise that. It must just be the podcast they’ve scrapped thanks. They've said it's under review re Monday and Tuesday shows. Good that Ann has given them something to talk about. Quote Link to comment Share on other sites More sharing options...
soonbe110 Posted March 26, 2020 Share Posted March 26, 2020 26 minutes ago, graygo said: How long would it take to get 12 months put away? Our wage bill is about £9m. What he is suggesting is that a £15m turnover business should hold reserves of £15m at all times! Banks would go out of business. Quote Link to comment Share on other sites More sharing options...
soonbe110 Posted March 26, 2020 Share Posted March 26, 2020 21 minutes ago, TypoonJambo said: Jeezus mate, what you smokin? What club has that kind of dosh? Never mind club, what business has that kind of dosh. Quote Link to comment Share on other sites More sharing options...
soonbe110 Posted March 26, 2020 Share Posted March 26, 2020 13 minutes ago, McCrae said: I think we can all name one which does or is not that far away from it in Scotland. Who? Quote Link to comment Share on other sites More sharing options...
Hearts007 Posted March 26, 2020 Share Posted March 26, 2020 Just now, soonbe110 said: Never mind club, what business has that kind of dosh. McCrae ltd.maybe? Quote Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted March 26, 2020 Share Posted March 26, 2020 Very good statement. Even Kris Boyd might understand it. Quote Link to comment Share on other sites More sharing options...
Diadora Van Basten Posted March 26, 2020 Share Posted March 26, 2020 I am glad that Ann has come out and clarified our financial position. The measures we are taking are just a sensible reaction to the loss of income that the club are experiencing. Quote Link to comment Share on other sites More sharing options...
Bunny Munro Posted March 26, 2020 Share Posted March 26, 2020 I'm going to assume McCrae is on the wind up. The alternative is that they're a moron. Simply, using easy numbers, if the club makes £100,000 a month, and our costs are £70,000 we are not spending out with our means. That's because the second number is smaller and the first number is bigger. You cannot run a business expecting to have no income for 6 months, that is ludicrous. Hearts will have budgeted season tickets, new strips, and a number of home games for income. Quote Link to comment Share on other sites More sharing options...
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