Ann Budge Statement

[Haken]

Good statement.  Clear and to the point.  Still been a shite season in the league.  That about sums it up for me.

[McCrae]

2 hours ago, Ribble said:

 

Like every other stable business we have cash reserves to last us up to 3 months (the amount advised by every accountant and auditor) of not having any income, the issue here is that we may have to go longer than 3 months without income so we have taken steps to ensure that the 3 month cash reserve can last longer, not exactly rocket science!

 Partick have just announced they have the funding to pay 100% of wages for all staff until the end of the season. If a small club like Partick can build up the cash reserves to do this why can’t Hearts.  As a club we can build our cash reserves , we have the income to do it. Surely if you can you would want to make the club financially strong as possible? Once we have finial stability assured we can increase spending again.

[McCrae]

8 minutes ago, The Real Maroonblood said:

When will that be?

I would guess that is the original season.

[kila]

15 minutes ago, McCrae said:

Patrick Thistle have announced they are keeping all staff on full pay until the end of the season.

 

Yeah... and the season will end next week no doubt.

 

I would be amazed if Partick have the cash to keep a commitment like that. Were they not spending to get out of that league and back into the top flight?

 

 

Edited March 27, 2020 by kila

[TheBigO]

4 minutes ago, McCrae said:

 Partick have just announced they have the funding to pay 100% of wages for all staff until the end of the season. If a small club like Partick can build up the cash reserves to do this why can’t Hearts.  As a club we can build our cash reserves , we have the income to do it. Surely if you can you would want to make the club financially strong as possible? Once we have finial stability assured we can increase spending again.

Shut up! Seriously. Shut up. Christ.

[heartsfc_fan]

8 minutes ago, kila said:

 

Yeah... and the season will end next week no doubt.

 

I would be amazed if Partick have the cash to keep a commitment like that. Were they not spending to get out of that league and back into the top flight?

 

 

Partick got a fair whack of cash from that euro millions winner who died recently I think.

[The Real Maroonblood]

16 minutes ago, McCrae said:

I would guess that is the original season.

👍

[alwaysthereinspirit]

25 minutes ago, McCrae said:

 Partick have just announced they have the funding to pay 100% of wages for all staff until the end of the season. If a small club like Partick can build up the cash reserves to do this why can’t Hearts.  As a club we can build our cash reserves , we have the income to do it. Surely if you can you would want to make the club financially strong as possible? Once we have finial stability assured we can increase spending again.

 You're still on here blethering to yourself......

[bean counter]

26 minutes ago, McCrae said:

 Partick have just announced they have the funding to pay 100% of wages for all staff until the end of the season. If a small club like Partick can build up the cash reserves to do this why can’t Hearts.  As a club we can build our cash reserves , we have the income to do it. Surely if you can you would want to make the club financially strong as possible? Once we have finial stability assured we can increase spending again.

 

And a Euro millionare fan who has pumped millions into the club.

[kila]

22 minutes ago, heartsfc_fan said:

Partick got a fair whack of cash from that euro millions winner who died recently I think.

 

Think a chunk is in club investment though, like stadium redevelopment plans? Not sure how much is sitting in a pile to keep paying folk.

 

 

 

 

 

[luckydug]

I wouldn't ban the Sun or the DR but I would withdraw their press passes. 

They can pay to get in like everyone else. 

I can just picture some furtive looking news hack trying to look inconspicuous with his laptop in Section N. 😁

[sac]

14 minutes ago, bean counter said:

 

And a Euro millionare fan who has pumped millions into the club.

Did he not leave them a million before he passed away?

[JimmyCant]

I imagine there wouldn’t be too many football clubs in the world, big medium or small who maintain a substantial financial reserve. Very few clubs run at a substantial enough profit to do that and we’re no different. We spend almost all we’ve got on infrastructure, overheads and wages. If we’ve got anything left at the end if a year it’s minimal and it’s spent the next year. 
 

Our household finance runs much like any other I imagine. We adjust to living broadly within our means, saving a little for luxuries or sticking luxuries on credit cards keeping an eye on the balance being affordable monthly along with the other bills, some of which are necessities, some of which we could do without if we have to trim down on spending. We could probably get a hold of £10k in credit fairly quickly if we needed it but we’d be in big trouble within months if we didn’t have income. Big Savings (reserves) for rainy days ? not really something we think about too much as the return on savings is minimal these days.
 

So there are some basic comparisons you can make between a household and a large football club. The end goal of financial comfort and safety is the same. The route to get there is very different for a football club and is often loaded with risk and reward ( or no reward in a lot of cases)

Edited March 27, 2020 by JimmyCant

[4marsbars]

47 minutes ago, McCrae said:

 Partick have just announced they have the funding to pay 100% of wages for all staff until the end of the season. If a small club like Partick can build up the cash reserves to do this why can’t Hearts.  

 

Obviously, because Hearts would have had to lay out much more than Partick in win bonuses.

[Ribble]

52 minutes ago, McCrae said:

 Partick have just announced they have the funding to pay 100% of wages for all staff until the end of the season. If a small club like Partick can build up the cash reserves to do this why can’t Hearts.  As a club we can build our cash reserves , we have the income to do it. Surely if you can you would want to make the club financially strong as possible? Once we have finial stability assured we can increase spending again.

 

And what about after the end of the season? I'm sure we COULD pay 100% of wages until the end of the season, we'd have very little left after that though so we are doing what we can to make what we have last until the club see's income returning. 

 

[Jim Panzee]

1 minute ago, Ribble said:

 

And what about after the end of the season? I'm sure we COULD pay 100% of wages until the end of the season, we'd have very little left after that though so we are doing what we can to make what we have last until the club see's income returning. 

 

no one knows how Partick are funding this. funds from that millionaire, high interest loans, another mystery benefactor. have they done this hoping football returns as normal in 3 months. if not..... 

[JamboAl]

53 minutes ago, McCrae said:

 Partick have just announced they have the funding to pay 100% of wages for all staff until the end of the season. If a small club like Partick can build up the cash reserves to do this why can’t Hearts.  As a club we can build our cash reserves , we have the income to do it. Surely if you can you would want to make the club financially strong as possible? Once we have finial stability assured we can increase spending again.

Why don't you write to Partick and ask them.

They were funded by a Euro Lottery winner who died fairly recently.  That may or may not be a big factor.

 

[7628mm]

35 minutes ago, alwaysthereinspirit said:

 You're still on here blethering to yourself......

 

Apparently not as your post clearly shows. Just saying

[McCrae]

16 minutes ago, JamboAl said:

Why don't you write to Partick and ask them.

They were funded by a Euro Lottery winner who died fairly recently.  That may or may not be a big factor.

 

Hearts have the income which would allow them to save some cash, why do you think this is a bad idea?

 

[McCrae]

49 minutes ago, bean counter said:

 

And a Euro millionare fan who has pumped millions into the club.

Has Partick received that money? Now that their benefactor has died I thought the funding was frozen due to a disputed will.

[McCrae]

27 minutes ago, Ribble said:

 

And what about after the end of the season? I'm sure we COULD pay 100% of wages until the end of the season, we'd have very little left after that though so we are doing what we can to make what we have last until the club see's income returning. 

 

if the season is scheduled to start they will have season ticket money....just like us. So no problem. 

[Nelly Terraces]

44 minutes ago, luckydug said:

I wouldn't ban the Sun or the DR but I would withdraw their press passes. 

They can pay to get in like everyone else. 

I can just picture some furtive looking news hack trying to look inconspicuous with his laptop in Section N. 😁

Good suggestion. I'd gladly get a Sun reporter a ticket to stand next to me at a game. Be a **** ing pleasure in fact.

[Ribble]

15 minutes ago, McCrae said:

if the season is scheduled to start they will have season ticket money....just like us. So no problem. 

 

IF, If not then they could be in big trouble, well before clubs like Hearts who are prudently taking measures in case the season doesn't start in July.

[Ribble]

22 minutes ago, McCrae said:

Hearts have the income which would allow them to save some cash, why do you think this is a bad idea?

 

 

Nobody is saying it's a bad idea ffs

 

Hearts have saved some cash, they have saved to the same level of cash reserves as any other business operates with, the equivalent of 3 months worth of outgoings.

[boag1874]

McCrae has had an absolute howler here

[JamboAl]

40 minutes ago, McCrae said:

Has Partick received that money? Now that their benefactor has died I thought the funding was frozen due to a disputed will.

So you don't know but you'll quote Partick anyway

[JimmyCant]

2 hours ago, McCrae said:

Hearts have the income which would allow them to save some cash, why do you think this is a bad idea?

 

If we hadn’t spent all the money we had we’d be bottom of the league and fighting......... err..........ahem........yep....... shut up Jimmy.

[McCrae]

1 hour ago, JamboAl said:

So you don't know but you'll quote Partick anyway

 

Why do you have such a big problem with a solution that would protect our club for the future?

[JamboAl]

16 minutes ago, McCrae said:

 

Why do you have such a big problem with a solution that would protect our club for the future?

I'd prefer them to have 3 years cash on hand

[OldGorgie]

9 hours ago, johnthomas said:

You are referring to people as hard of thinking !

The person who thinks AB is promoting 'negative vibes' during this crisis .

You really need to stop 

Because my opinion is different from you?? I thought this was a forum where people can express their opinions freely. 

[ƒιѕнρℓαρѕ]

1 minute ago, OldGorgie said:

Because my opinion is different from you?? I thought this was a forum where people can express their opinions freely. 

It is, you did, and so did he.

[soonbe110]

2 hours ago, boag1874 said:

McCrae has had an absolute howler here

Yep, just can’t let it go despite clearly lost all the  battles and the war. 

[Koolkeith]

4 hours ago, McCrae said:

 Partick have just announced they have the funding to pay 100% of wages for all staff until the end of the season. If a small club like Partick can build up the cash reserves to do this why can’t Hearts.  As a club we can build our cash reserves , we have the income to do it. Surely if you can you would want to make the club financially strong as possible? Once we have finial stability assured we can increase spending again.

So that’s for the next two months then. 👍

[johnthomas]

6 minutes ago, OldGorgie said:

Because my opinion is different from you?? I thought this was a forum where people can express their opinions freely. 

No because you made the stupid statement of the year 

 Nothing to do with opinion 

The rest of your posts were completely irrelevant .

I'm struggling to understand how you can't see this 

[Lord Beni of Gorgie]

Another statement and the letter now on the official website 

[Perth to Paisley]

Quote

 

Wish they would take the pen away.

Yesterdays statement should have been the end offeeding the trolls

[132goals1958]

23 minutes ago, Sir Gio said:

Another statement and the letter now on the official website 

It almost beggars belief that certain sections of the media can’t or won’t grasp the concept of strict financial discipline which are unequivocally necessary in what are extraordinary times.The current situation should not be a time for petty agendas. Cynical headline grabbing is distasteful to say the least.

[Beast Boy]

Imagine being a Sun journalist sitting at home in your jockeys and slippers, seeing the daily infection and death toll numbers coming in like some kind of mortality vidi-printer, and your first though being:

 

”I know, I’ll use this as a way of getting torn in to a football club.”

 

Its actually shameful. I don’t even think there should be a debate about banning them. Just do it.

 

Hibs supporters you just expect it from. They hate us and our club. Oh well, the feeling’s mutual for me, after the way they behaved towards us during administration. I feel no shame in wishing upon their club something that they actively tried to inflict upon mine. Preston and the Sun though? Beneath contempt. 
 

It’s been interesting to watch Hearts supporters pick sides though too. Hearts supporters siding with The Sun over their own football club... changed days indeed.

[pablo]

There's a short and pointless retort to the Club's statement from Alan Patullo in the Hibsman saying nothing much other than " yeah, but......."

[Beast Boy]

1 minute ago, pablo said:

There's a short and pointless retort to the Club's statement from Alan Patullo in the Hibsman saying nothing much other than " yeah, but......."

Don’t suppose you could take a photo and post it, chief? Not a fan of Patullo, when I used to read that paper, he always struck me as someone who felt nothing but disdain for us, but hid it behind a veneer of pretence. Other writers just plain came out and said it, whilst he was always just sneering in a kind of aloof semi-interested manner.

[pablo]

1 minute ago, Special Officer Doofy said:

Don’t suppose you could take a photo and post it, chief? Not a fan of Patullo, when I used to read that paper, he always struck me as someone who felt nothing but disdain for us, but hid it behind a veneer of pretence. Other writers just plain came out and said it, whilst he was always just sneering in a kind of aloof semi-interested manner.

 

I read it online. I absolutely agree with your description of Patullo. How he's maintained a career regurgitating stuff about periods in either the National team or Dundee's past that nobody cares about is baffling. As you say, when he turns his attention to us, it's never convincing that he understands the Club at all. Feels he should be putting the boot in, but it's lacks the oomph of his fellow hacks. 

[JamboAl]

1 hour ago, Special Officer Doofy said:

Imagine being a Sun journalist sitting at home in your jockeys and slippers, seeing the daily infection and death toll numbers coming in like some kind of mortality vidi-printer, and your first though being:

 

”I know, I’ll use this as a way of getting torn in to a football club.”

 

Its actually shameful. I don’t even think there should be a debate about banning them. Just do it.

 

Hibs supporters you just expect it from. They hate us and our club. Oh well, the feeling’s mutual for me, after the way they behaved towards us during administration. I feel no shame in wishing upon their club something that they actively tried to inflict upon mine. Preston and the Sun though? Beneath contempt. 
 

It’s been interesting to watch Hearts supporters pick sides though too. Hearts supporters siding with The Sun over their own football club... changed days indeed.

Correct.  Just do it!

[Central Belt 1874]

It's not just The Sun though. I put Sky Sports News on last night for the first time since games were stopped and the way they presented how we were handling this situation was as a negative story. 

 

Barcelona, Athletico Madrid, Sunderland and a few other clubs were also reported on that channel as doing the same or similar without the negativity. 

 

Utterly outrageous reporting. 

[Lord Beni of Gorgie]

The letter is open to interpretation,  no denying it. 

 

However these are pretty well paid people even at the lowest level at the club. 

 

The offer is temporary and to protect long term security. That's what makes it rather unpalatable and the vitriol shown towards our club displays an inherent bias that is manifesting itself in a rather ugly fashion. 

 

No shame in the unions or the media. They would rather see a cashier redundant than a football player return his BMW

[OTT]

Really think Hearts take to take a strong stance on the Glasgow media (specifically the sun). We've been trashed for weeks by them publishing internal documents left right and centre. Despite the seriousness of the situation the Sun seem hell bent on sticking the boot in. 

 

Ban them. They don't add value to the club. 

[Angel eyes]

Gary Locke on OFF THE BALL asked by Cowan that if the players don’t agree their wages will be suspended? Gary did no commit an answer just said he’s no at the stadium the now and no sure what’s happening but if he’s a paid employee he’ll be on the same boat?