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kila

Ann Budge Statement

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McCrae
Posted (edited)
4 minutes ago, soonbe110 said:

Very few businesses anywhere, in any industry, have reserves to cover more than 2-3 months costs. You are just trouble-making for the sake of it. Have you never heard of cash flow? Breaking even has nothing to do with cash flow.  I’m starting to recall a similar debate with you on this subject last week so don’t bother replying. You would be better off using your time reading Frank Wood. 


Scottish Football is not a good example of how to do things. We were supposed to be doing it differently.    You are correct, most business don’t have large cash reserves. Most companies however fail and not having enough cash s the main reason.

 

Edited by McCrae

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soonbe110
6 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.

 

 

Think we got almost enough money from the concert to fund the ladies team. 

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soonbe110
1 minute ago, davemclaren said:

Frank Wood - that brings back memories. 😄

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. 

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soonbe110
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. 

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McCrae
2 minutes ago, soonbe110 said:

Think we got almost enough money from the concert to fund the ladies team. 


We were paid nothing.

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HillmanHearts

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.

 

 

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The Real Maroonblood
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. 

 

:laugh:

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McCrae
Posted (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 by McCrae

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davemclaren
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. 

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Nookie Bear
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

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kila
Posted (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 by kila

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Hearts007
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

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1971fozzy
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.

 

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McCrae
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. 

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HoGwash
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. 

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davemclaren
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

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McCrae
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.

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graygo
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.

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Francis Albert
Posted (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 by Francis Albert

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kila
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.

 

 

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kila
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.

 

:rofl:

 

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?

 

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Hearts007
1 minute ago, kila said:

 

:rofl:

 

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?

 

:smoking: 😄

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TypoonJambo
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? 

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Gambo

Good statement.

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karipidis
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. 

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Pasquale for King
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.

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Mauricio Pinilla
4 hours ago, Natural Orders said:

Anyone who buys the Sun paper should really have a serious look at themselves 

 

:spoton:

 

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McCrae
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?

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McCrae
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. 

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McCrae
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!

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soonbe110
31 minutes ago, McCrae said:


We were paid nothing.

Think you are mistaken.  Why would we do it if we received nothing in return? 

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McCrae
11 minutes ago, TypoonJambo said:

Jeezus mate, what you smokin? What club has that kind of dosh? 


Celtic?

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Agentjambo
1 hour ago, soonbe110 said:

Did he? 
 

Did he not?

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jonnothejambo
43 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. 

 

 

Correct. So I will summarise. 

 

That lot reside in a festering shithole. It always has been and it always will be. 

 

Basically, you cannot polish a turd.

 

What with their stupid, nasal accents, nae top lip and the myth that they are friendly. Friendly my arse. 

 

I exonerate any Hearts fans who have the misfortune to reside there and I apologise for any offense caused.

 

They do have some decent curry houses mind.

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Hearts007
Just now, McCrae said:


Bingo... we are over spending!

How much should our wage bill be in your op?

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soonbe110
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? 

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McCrae
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,
 

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soonbe110
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. 

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gorgie rd eh11
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.

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McCrae
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? 

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McCrae
Just now, gorgie rd eh11 said:


clairvoyance.


😁

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soonbe110
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

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baxterd1974
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!

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Last Laff
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. 

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soonbe110
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? 

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Turkishcap

Cheers for the replies, got the pc out vpn on :) Understandable I suppose.

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Mikey1874
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. 

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soonbe110
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. 

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soonbe110
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. 

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soonbe110
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? 

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