2020/21 accounts/AGM - shareholders presentation/Q&A announced ( updated )

[GinRummy]

Thanks to soonbe110 for a great summary. Everything seems really positive at the moment. 

[Perth to Paisley]

I heard the "twist for fans" was some sort of M&S room... or something like that

😉

[FarmerTweedy]

19 minutes ago, Perth to Paisley said:

I heard the "twist for fans" was some sort of M&S room... or something like that

😉

So we could buy a new jumper if we're feeling a wee bit cold before the game, or pick up a lasagne for tea as we're leaving the ground? 

[section s heart]

Thanks for taking the time to summarise the meeting sb. 

 

The min £4m uefa money is exciting, I guess all we currently get is a modest sum based on how other Scottish teams do.

 

If our high wage is around £4k/£5k pw, a sum like this is enough in theory to fund 3 year contracts for 4 x £6k players or 3 x £8k players.

 

The £4m is presumably based on losing all 6 group games, so 2 or 3 good results (possible) or qualifying from a group (tough realistically)  could increase the sum by a fair bit.  And then qualifying for future years might repeat the large sums. 

 

Chance that wrapping up 3rd/ cup could be really transformational for us, if everything goes to plan. 

[FarmerTweedy]

I noticed on the slide for the current year's financials, there's £5.8m of donations budgeted for the year, and for the half year actuals, £2.9m had been received. That will include FoH contributions but also shows that our benefactor is continuing to back us very substantially. 

[HoGwash]

1 hour ago, soonbe110 said:

Stuff I picked up on today

Finances in good shape 

Plan in place to repay debt to AB by November 24, loan is at very favourable rates. 
Savage has covid

Cup final defeat severely dented teams confidence and was still a factor when Brora came round 

Budge comments - ‘strongest off-field team in Scottish football’ ‘terrific football management team’ 

Big screens early next season

Second floor finished within a year 

Fully automated turnstiles in all stands by summer

 

VAR and 150th anniversary events currently in the planning phase 

 

Deloitte review presented to SPFL, sub-committee formed, McKinlay on it 

Didn’t seem excited about standing  area 

UEFA income next season will be min £4m, max £8m if we get into group stages 

Have a plan to replace Souttar, looking for two more centre-backs 

Expect to make serious money from player trading in near future 

Hope to have Reserve league next season, Lowland league not really an option at the moment but could change 

Haymarket war memorial is 100 years old on 9/4, same day as we play Hibs. Club plan to do something to recognise this 

Happy to keep old firm at reduced ticket levels next season as long as Hearts fans keep buying tickets 

7 years left on lease at Oriam 

 

Was very impressed by McKinlay today. Seemed to have his finger on the pulse and answered most of the questions without hesitation. Certainly what you would expect from a CEO on top of his game. 

 

I was in a rush earlier so my summary was extremely brief but I think this covers everything. The potential European money was described as a game changer. Agree with your comments on Andrew McKinlay, he was very impressive. 

[soonbe110]

35 minutes ago, HoGwash said:

I was in a rush earlier so my summary was extremely brief but I think this covers everything. The potential European money was described as a game changer. Agree with your comments on Andrew McKinlay, he was very impressive. 

👍

[davemclaren]

36 minutes ago, HoGwash said:

I was in a rush earlier so my summary was extremely brief but I think this covers everything. The potential European money was described as a game changer. Agree with your comments on Andrew McKinlay, he was very impressive. 

No longer Mr Anonymous then. 😄

[Papa]

I attended. Pretty mundane stuff with nothing to get really excited about. That said it was all positive stuff. Shame that Joe Savage was ill. I sat at the back and will need to visit Specsavers to read the PowerPoint in future. Even Ann had difficulty in reading her brief! Haven’t they heard off increased font size?

[GinRummy]

1 minute ago, Papa said:

I attended. Pretty mundane stuff with nothing to get really excited about. That said it was all positive stuff. Shame that Joe Savage was ill. I sat at the back and will need to visit Specsavers to read the PowerPoint in future. Even Ann had difficulty in reading her brief! Haven’t they heard off increased font size?

How can you say it was mundane when we’re getting big screens? Watch the football live and on the telly at the same time. Life is complete. 

[Jambof3tornado]

2 hours ago, soonbe110 said:

Stuff I picked up on today

Finances in good shape 

Plan in place to repay debt to AB by November 24, loan is at very favourable rates. 
Savage has covid

Cup final defeat severely dented teams confidence and was still a factor when Brora came round 

Budge comments - ‘strongest off-field team in Scottish football’ ‘terrific football management team’ 

Big screens early next season

Second floor finished within a year 

Fully automated turnstiles in all stands by summer

 

VAR and 150th anniversary events currently in the planning phase 

 

Deloitte review presented to SPFL, sub-committee formed, McKinlay on it 

Didn’t seem excited about standing  area 

UEFA income next season will be min £4m, max £8m if we get into group stages 

Have a plan to replace Souttar, looking for two more centre-backs 

Expect to make serious money from player trading in near future 

Hope to have Reserve league next season, Lowland league not really an option at the moment but could change 

Haymarket war memorial is 100 years old on 9/4, same day as we play Hibs. Club plan to do something to recognise this 

Happy to keep old firm at reduced ticket levels next season as long as Hearts fans keep buying tickets 

7 years left on lease at Oriam 

 

Was very impressed by McKinlay today. Seemed to have his finger on the pulse and answered most of the questions without hesitation. Certainly what you would expect from a CEO on top of his game. 

 

Thankyou for taking the time to post this 

[EIEIO]

3 hours ago, soonbe110 said:

Stuff I picked up on today

Finances in good shape 

Plan in place to repay debt to AB by November 24, loan is at very favourable rates. 
Savage has covid

Cup final defeat severely dented teams confidence and was still a factor when Brora came round 

Budge comments - ‘strongest off-field team in Scottish football’ ‘terrific football management team’ 

Big screens early next season

Second floor finished within a year 

Fully automated turnstiles in all stands by summer

 

VAR and 150th anniversary events currently in the planning phase 

 

Deloitte review presented to SPFL, sub-committee formed, McKinlay on it 

Didn’t seem excited about standing  area 

UEFA income next season will be min £4m, max £8m if we get into group stages 

Have a plan to replace Souttar, looking for two more centre-backs 

Expect to make serious money from player trading in near future 

Hope to have Reserve league next season, Lowland league not really an option at the moment but could change 

Haymarket war memorial is 100 years old on 9/4, same day as we play Hibs. Club plan to do something to recognise this 

Happy to keep old firm at reduced ticket levels next season as long as Hearts fans keep buying tickets 

7 years left on lease at Oriam 

 

Was very impressed by McKinlay today. Seemed to have his finger on the pulse and answered most of the questions without hesitation. Certainly what you would expect from a CEO on top of his game. 

 

Thanks for the detailed update, I completely forgot the meeting was on.

[soonbe110]

2 hours ago, Jambof3tornado said:

Thankyou for taking the time to post this 

👍

[soonbe110]

49 minutes ago, EIEIO said:

Thanks for the detailed update, I completely forgot the meeting was on.

👍

[Tom Hardy’s Dug]

4 hours ago, section s heart said:

Thanks for taking the time to summarise the meeting sb. 

 

The min £4m uefa money is exciting, I guess all we currently get is a modest sum based on how other Scottish teams do.

 

If our high wage is around £4k/£5k pw, a sum like this is enough in theory to fund 3 year contracts for 4 x £6k players or 3 x £8k players.

 

The £4m is presumably based on losing all 6 group games, so 2 or 3 good results (possible) or qualifying from a group (tough realistically)  could increase the sum by a fair bit.  And then qualifying for future years might repeat the large sums. 

 

Chance that wrapping up 3rd/ cup could be really transformational for us, if everything goes to plan. 

Money will also depend on the teams in our group I guess.

 

Are gate receipts in Europe home team takes all or are they shared equally?

 

Ultimately if the team/Robbie get 3rd this season it would be our best season for our future since god knows when…

Edited March 8, 2022 by Tom Hardy’s Dug

[wavydavy]

6 hours ago, soonbe110 said:

He was asking questions today. Took about 30 mins when 15 would have sufficed. 

 

Sounds about right. 🤣

[jambocub]

7 hours ago, soonbe110 said:

That’s the plan. Aimed specifically at getting players ready for first team. Also going to be tougher in future - telling kids they will be good enough to make a living from the game, just not with Hearts. 

Why would it be tough to tell them , surely any kid or parent will know there's not a great chance of making it at any club .

 

Or do you mean the club are going to be tougher by being honest with kids who just aren't good enough?

 

 

 

 

 

[jamboinglasgow]

8 hours ago, soonbe110 said:

That’s the plan. Aimed specifically at getting players ready for first team. Also going to be tougher in future - telling kids they will be good enough to make a living from the game, just not with Hearts. 

 

Certainly seems to be the nub of the matter that Hearts have talked about (matches what Ann said about a year and a half ago how they need to get players who are ready to come in.) Our aim should be players for the first team. I wonder if we are focusing more on individuals rather than teams we will look to have a smaller intake at the academy, maximising our resources on these players.

 

As for the second bit, do you mean that we are going to set high expectations for young players, so going on we will cut more players who fail to make the cut for Hearts rather than giving those who have some potential but not shown enough of that level longer time to make it. So for example a player like Lewis Moore was.

 

7 hours ago, soonbe110 said:

Stuff I picked up on today

Finances in good shape 

Plan in place to repay debt to AB by November 24, loan is at very favourable rates. 
Savage has covid

Cup final defeat severely dented teams confidence and was still a factor when Brora came round 

Budge comments - ‘strongest off-field team in Scottish football’ ‘terrific football management team’ 

Big screens early next season

Second floor finished within a year 

Fully automated turnstiles in all stands by summer

 

VAR and 150th anniversary events currently in the planning phase 

 

Deloitte review presented to SPFL, sub-committee formed, McKinlay on it 

Didn’t seem excited about standing  area 

UEFA income next season will be min £4m, max £8m if we get into group stages 

Have a plan to replace Souttar, looking for two more centre-backs 

Expect to make serious money from player trading in near future 

Hope to have Reserve league next season, Lowland league not really an option at the moment but could change 

Haymarket war memorial is 100 years old on 9/4, same day as we play Hibs. Club plan to do something to recognise this 

Happy to keep old firm at reduced ticket levels next season as long as Hearts fans keep buying tickets 

7 years left on lease at Oriam 

 

Was very impressed by McKinlay today. Seemed to have his finger on the pulse and answered most of the questions without hesitation. Certainly what you would expect from a CEO on top of his game. 

 

 

Thanks for all that, certainly interesting and positive.

[Jambo 4 Ever]

9 hours ago, Rockwell said:

Unfortunately Joe savage was to attend but has covid .a bit disappointed as would have loved to have heard what he had to say .

And he could have joined by zoom link for 20 mins so very poor 

[heartsfc_fan]

5 hours ago, Jambo 4 Ever said:

And he could have joined by zoom link for 20 mins so very poor 

🤣 Must be on the wind up.

Maybe he's quite ill? Maybe he's bed bound?

[soonbe110]

9 hours ago, Tom Hardy’s Dug said:

Money will also depend on the teams in our group I guess.

 

Are gate receipts in Europe home team takes all or are they shared equally?

 

Ultimately if the team/Robbie get 3rd this season it would be our best season for our future since god knows when…

Home team takes all gate receipts. 

[soonbe110]

7 hours ago, jambocub said:

Why would it be tough to tell them , surely any kid or parent will know there's not a great chance of making it at any club .

 

Or do you mean the club are going to be tougher by being honest with kids who just aren't good enough?

 

 

 

 

 

Think it’s a bit of both to be honest. I think the purpose is to spend more money and time developing the few who are probably future first team players with Hearts rather than other clubs. Not sure though, it was not discussed in depth. 

[soonbe110]

7 hours ago, jamboinglasgow said:

 

Certainly seems to be the nub of the matter that Hearts have talked about (matches what Ann said about a year and a half ago how they need to get players who are ready to come in.) Our aim should be players for the first team. I wonder if we are focusing more on individuals rather than teams we will look to have a smaller intake at the academy, maximising our resources on these players.

 

As for the second bit, do you mean that we are going to set high expectations for young players, so going on we will cut more players who fail to make the cut for Hearts rather than giving those who have some potential but not shown enough of that level longer time to make it. So for example a player like Lewis Moore was.

 

 

Thanks for all that, certainly interesting and positive.

More focus and investment in those we think will play for the first team rather than a 16/18 player squad. 

[TyphoonJambo]

5 hours ago, Jambo 4 Ever said:

And he could have joined by zoom link for 20 mins so very poor 

I was proper on my arse with it last week so I can empathise with him. I would have sounded like a drowning man if I'd tried to zoom.

[GinRummy]

1 hour ago, TypoonJambo said:

I was proper on my arse with it last week so I can empathise with him. I would have sounded like a drowning man if I'd tried to zoom.

Funny you should say that, I know two people who have had it recently and both really ill for 3-4 days before starting to improve. Seems different from a couple of months ago when symptoms were milder.

[davemclaren]

7 hours ago, Jambo 4 Ever said:

And he could have joined by zoom link for 20 mins so very poor 

The guy might well be quite ill, where’s your empathy?

[Stendelnator]

Was there any mention or sight of James Anderson?

[john thomas]

30 minutes ago, GinRummy said:

Funny you should say that, I know two people who have had it recently and both really ill for 3-4 days before starting to improve. Seems different from a couple of months ago when symptoms were milder.

Yes I was same . Not nice

[GinRummy]

1 minute ago, john thomas said:

Yes I was same . Not nice

Aye a bit worrying. Hope you recovered ok.

[Hackney Hearts]

48 minutes ago, GinRummy said:

Funny you should say that, I know two people who have had it recently and both really ill for 3-4 days before starting to improve. Seems different from a couple of months ago when symptoms were milder.

 

Same story. I had it beginning of Feb, mild symptoms for a couple of days - my wife has it now and suffering really badly for a week so far. And I'm not suggesting for a minute that I'm made of sterner stuff. If Joe Savage lost his voice (as she did), a video link wouldn't be much help. 

 

On topic - lots of good news in there (thanks soonbe110) - only negative for me was the lack of interest in a standing area. 

[Lone Striker]

17 hours ago, soonbe110 said:

Stuff I picked up on today

Finances in good shape 

Plan in place to repay debt to AB by November 24, loan is at very favourable rates. 
Savage has covid

Cup final defeat severely dented teams confidence and was still a factor when Brora came round 

Budge comments - ‘strongest off-field team in Scottish football’ ‘terrific football management team’ 

Big screens early next season

Second floor finished within a year 

Fully automated turnstiles in all stands by summer

 

VAR and 150th anniversary events currently in the planning phase 

 

Deloitte review presented to SPFL, sub-committee formed, McKinlay on it 

Didn’t seem excited about standing  area 

UEFA income next season will be min £4m, max £8m if we get into group stages 

Have a plan to replace Souttar, looking for two more centre-backs 

Expect to make serious money from player trading in near future 

Hope to have Reserve league next season, Lowland league not really an option at the moment but could change 

Haymarket war memorial is 100 years old on 9/4, same day as we play Hibs. Club plan to do something to recognise this 

Happy to keep old firm at reduced ticket levels next season as long as Hearts fans keep buying tickets 

7 years left on lease at Oriam 

 

Was very impressed by McKinlay today. Seemed to have his finger on the pulse and answered most of the questions without hesitation. Certainly what you would expect from a CEO on top of his game. 

 

Thanks for posting that info.  👍    Interesting comment from the board that they expect to make "serious" money on player trading soon.    I wonder if they're referring to interest in Beni/Cammy/Nath ...... or the general strategy of  identifying & signing young players "on the up" which might produce more like them this coming summer ?

 

 

[HoGwash]

46 minutes ago, Stendelnator said:

Was there any mention or sight of James Anderson?

He was mentioned. Couldn't be there as he is travelling this week.

[millerjames398]

21 hours ago, sprinbox98 said:

ive heard it was for a hotel (14 / 15 double bedrooms).

 

was due to be for corporate functions but covid put that away.

Wonder how a hotel would work,,will i be taking pictures of the main stand, lookin resplendent in the sunshine,,only see some guy lookin back out, stretching and scratching his baws?😂

[Heartsofgold]

1 hour ago, GinRummy said:

Funny you should say that, I know two people who have had it recently and both really ill for 3-4 days before starting to improve. Seems different from a couple of months ago when symptoms were milder.

I know 8 people who have had it.

 

2 were floored completely for about a week, 3 had mild cold symptoms and 3 felt nothing at all, they picked the fact they had the infection up via routine LFTs.

 

It affects everyone in different ways.

[Glamorgan Jambo]

18 hours ago, soonbe110 said:

Stuff I picked up on today

Finances in good shape 

Plan in place to repay debt to AB by November 24, loan is at very favourable rates. 
Savage has covid

Cup final defeat severely dented teams confidence and was still a factor when Brora came round 

Budge comments - ‘strongest off-field team in Scottish football’ ‘terrific football management team’ 

Big screens early next season

Second floor finished within a year 

Fully automated turnstiles in all stands by summer

 

VAR and 150th anniversary events currently in the planning phase 

 

Deloitte review presented to SPFL, sub-committee formed, McKinlay on it 

Didn’t seem excited about standing  area 

UEFA income next season will be min £4m, max £8m if we get into group stages 

Have a plan to replace Souttar, looking for two more centre-backs 

Expect to make serious money from player trading in near future 

Hope to have Reserve league next season, Lowland league not really an option at the moment but could change 

Haymarket war memorial is 100 years old on 9/4, same day as we play Hibs. Club plan to do something to recognise this 

Happy to keep old firm at reduced ticket levels next season as long as Hearts fans keep buying tickets 

7 years left on lease at Oriam 

 

Was very impressed by McKinlay today. Seemed to have his finger on the pulse and answered most of the questions without hesitation. Certainly what you would expect from a CEO on top of his game. 

 

 

Many thanks for the summary

 

Quite surprised by the bit about the cup final. They should have taken some confidence from taking Selleck all the way to pens in the final in a season where we hadn't been back playing for quite a while after they started. They'd have been miffed about missing out on a cup winning bonus for sure though.

[Mikey1874]

10 hours ago, jambocub said:

Why would it be tough to tell them , surely any kid or parent will know there's not a great chance of making it at any club .

 

Or do you mean the club are going to be tougher by being honest with kids who just aren't good enough?

 

It's always been the case that academies are filled with players who won't be good enough. Partly to make up teams. I have listened to Jim McInally making this point about his experience at Celtic, saying they had too many players. 

 

They need to combine age groups even more then. 

[john thomas]

1 hour ago, GinRummy said:

Aye a bit worrying. Hope you recovered ok.

Fully recovered though still a bit dopy .

Mind you......

[GinRummy]

Just now, john thomas said:

Fully recovered though still a bit dopy .

Mind you......

😀👍

[TyphoonJambo]

2 hours ago, GinRummy said:

Funny you should say that, I know two people who have had it recently and both really ill for 3-4 days before starting to improve. Seems different from a couple of months ago when symptoms were milder.

6 tickets,flights booked accommodation paid for,Rome this weekend for the rugby. Watching the match afterwards in the highlander bar. 

Guess what,every ******* now has it, gutted.

Anybody want some tickets?

[GinRummy]

Just now, TypoonJambo said:

6 tickets,flights booked accommodation paid for,Rome this weekend for the rugby. Watching the match afterwards in the highlander bar. 

Guess what,every ******* now has it, gutted.

Anybody want some tickets?

Oh ffs, that is so unlucky.

[TyphoonJambo]

Just now, GinRummy said:

Oh ffs, that is so unlucky.

Yep 2 years in the planning. Us travelling from malaga, brother from Portugal and friends from London.  All different places and all at the same time.

Crazy thing is we were allback in Edinburgh for the Motherwell game. Met up Friday. Done the Tony Singh supper night then the pub. Saturday,Diggers,Gorgie Suite hospitality and city centre pubs. Mixed with hundreds of drunks in crowded pubs. No-one caught nothing. 

Bloody weird.

[Unknown user]

18 hours ago, soonbe110 said:

Expect to make serious money from player trading in near future 

Aw are we selling Beni?

[sprinbox98]

18 minutes ago, TypoonJambo said:

6 tickets,flights booked accommodation paid for,Rome this weekend for the rugby. Watching the match afterwards in the highlander bar. 

Guess what,every ******* now has it, gutted.

Anybody want some tickets?

shocker mate. I was in the highlander bar 2 years ago for the rugby and it was great craic!

[soonbe110]

3 hours ago, Glamorgan Jambo said:

 

Many thanks for the summary

 

Quite surprised by the bit about the cup final. They should have taken some confidence from taking Selleck all the way to pens in the final in a season where we hadn't been back playing for quite a while after they started. They'd have been miffed about missing out on a cup winning bonus for sure though.

Yes, I was as well but seems they were absolutely gutted at missing the opportunity. Still clearly hurts judging by Robbie’s comments after the Livingston game. 

[soonbe110]

2 hours ago, Smithee said:

Aw are we selling Beni?

Who knows but he must be high up the list of potential sales. 

[Unknown user]

19 minutes ago, soonbe110 said:

Who knows but he must be high up the list of potential sales. 

 

Take Gordon out and there's no one else worth more IMO 

[jamboinglasgow]

2 minutes ago, Mikey1874 said:

 

It's always been the case that academies are filled with players who won't be good enough. Partly to make up teams. I have listened to Jim McInally making this point about his experience at Celtic, saying they had too many players. 

 

They need to combine age groups even more then. 

 

Yup, I remember that was one of points made by a SFA performance director (I think it was Malky Mackay) that academies in Scotland had too many players in it, that they need to reduce the number so that the most time can be spent with those most likely to make it.

[JimmyCant]

1 hour ago, Smithee said:

 

Take Gordon out and there's no one else worth more IMO 

Kingsley would fetch a decent fee. Devlin, McKay, Halkett all worth more than Beni possibly.

[Unknown user]

4 minutes ago, JimmyCant said:

Kingsley would fetch a decent fee. Devlin, McKay, Halkett all worth more than Beni possibly.

Not for me, and he's only 23, he's got years left, that's got to push his price up.

But TBH I don't want to lose any of those you've named.

[Chaps]

5 hours ago, HoGwash said:

He was mentioned. Couldn't be there as he is travelling this week.

He could have joined by zoom link for 20 mins so very poor.