Section Q Posted February 9 Share Posted February 9 Interesting wee read........... ""The Easter Road club this week published their financial accounts for the year to June and they made for some worrying reading. They made a £3.9million loss and had a wage-to-turnover ratio of 81 per cent."" ""We have moved from a situation of no debt to a situation of £5.7 million in debt, that’s just to the Gordon family alone.”" https://www.footballscotland.co.uk/spfl/scottish-premiership/bill-foley-hibs-involvement-heartbreaking-28596010 Quote Link to comment Share on other sites More sharing options...
Harmonica Posted February 9 Share Posted February 9 Very hard to read that without smiling. Quote Link to comment Share on other sites More sharing options...
Maple Leaf Posted February 9 Share Posted February 9 He uses "disappointed" and "disappointing" a lot. No shit, Sherlock! Your Club's in trouble. Quote Link to comment Share on other sites More sharing options...
1971fozzy Posted February 9 Share Posted February 9 “We have moved from a situation of no debt to a situation of £5.7 million in debt, that’s just to the Gordon family alone.” And also what happens if the Gordon family have a disagreement with Foleys Knights ? Messy Quote Link to comment Share on other sites More sharing options...
Section Q Posted February 9 Author Share Posted February 9 Foley's getting closer to God, and he might be happy to spread some carnage before he goes. Quote Link to comment Share on other sites More sharing options...
chrisyboy7 Posted February 9 Share Posted February 9 They are fked...club will go up fir sale in the next 2 years....they are losing money big time. Meanwhile Hearts are increasing revenue and a huge gap between the clubs both on and off the park is opening up. They will never catch us. Quote Link to comment Share on other sites More sharing options...
been here before Posted February 9 Share Posted February 9 Cant the HSL help them out here? Ahhh wait a minute.... Quote Link to comment Share on other sites More sharing options...
jambo mark Posted February 9 Share Posted February 9 He might only own 24.9% but after sticking £6m in, Foley will absolutely be calling the shots. The tail firmly wagging the dog. Quote Link to comment Share on other sites More sharing options...
i wish jj was my dad Posted February 9 Share Posted February 9 Terrible news. I'm gutted for them. Quote Link to comment Share on other sites More sharing options...
i8hibsh Posted February 9 Share Posted February 9 The HSL will chip in but i'm just not too sure that £11.47 a month would make too much of a dent on their debts. Quote Link to comment Share on other sites More sharing options...
Carter Posted February 9 Share Posted February 9 11 minutes ago, jambo mark said: He might only own 24.9% but after sticking £6m in, Foley will absolutely be calling the shots. The tail firmly wagging the dog. They've needed the Foley investment to compensate for the inability to generate revenue at a level to match their outlay. They've seen Hearts and Aberdeen generate additional revenue of c. £5M in each of the past 2 years from European group stage football. They now have a real challenge to even make top 6 this season with only one place up for grabs. I wouldn't fancy Montgomery against Warnock in a straight shoot out for a top 6 spot. They're so far off its absolutely frightening. Their approach to recruitment now seems completely up in the air. A scsttergun approach at best. Moreover, you ain't generating player trading revenue if the players don't belong to you!. Youan end product remains a huge issue and nobody is paying a fee for an ageing Martin Boyle who isn't the rapid threat he once was and who's play acting is now an utter embarrassment. Makes you wonder how much worse things would've been had they not cashed in on Nisbet. Hibs look in s real mess. This is a very real illustration of what happens with a succession of terrible managerial appointments and the type of garbage recruitment that happens as a consequence. They need to hope that Foley is incredibly generous with the standard of loanee who walks through the door. Otherwise this will turn to shit very quickly. Quote Link to comment Share on other sites More sharing options...
Pete Elliott Posted February 9 Share Posted February 9 When reading that article it really shines through the contrast between the two clubs. Hibs fans only have themselves to blame though. They had the opportunity to put their money where their mouth is and safeguard their club forevermore but didn’t. Rather than take delight in our administration and financial woes they should have used it as a motivation to make sure it never happened to them. They didn’t. Wee team. Wee mentality. Wee perspective. Quote Link to comment Share on other sites More sharing options...
Dazo Posted February 9 Share Posted February 9 I think this is something for the braindead amongst us to digest when screaming about the fat farters or old ladies running our club. The contrast couldn’t be any more stark. Quote Link to comment Share on other sites More sharing options...
Jaap's Sigh Posted February 9 Share Posted February 9 I seriously hope the ****ers go down the tubes. I’ll never forget or forgive their conduct during our administration. Rot in hell you verminous, smelly tramps. Quote Link to comment Share on other sites More sharing options...
DG_HMFC Posted February 9 Share Posted February 9 21 minutes ago, Pete Elliott said: When reading that article it really shines through the contrast between the two clubs. Hibs fans only have themselves to blame though. They had the opportunity to put their money where their mouth is and safeguard their club forevermore but didn’t. Rather than take delight in our administration and financial woes they should have used it as a motivation to make sure it never happened to them. They didn’t. Wee team. Wee mentality. Wee perspective. They were never going to do that because they see it as an embarrassment. They would never want to be known as a Direct Debit FC who fleece their fans etc. Absolute mugs, the lot of them Quote Link to comment Share on other sites More sharing options...
Armageddon Posted February 9 Share Posted February 9 And folk on here greet about our hotel 😂 I read that and couldn’t help but masterbate, the only downside is…. im on the train to work. Keep up the good work Hibernian FC ❤️😂 Quote Link to comment Share on other sites More sharing options...
Pap Posted February 9 Share Posted February 9 https://www.hibs.net/showthread.php?365456-Hsl&p=7581089&viewfull=1#post7581089 "5. Decision-making - the club is very poorly run - existing staff appeared to be dispensed with early and money wasted on a lot of vanity projects. Why pay so much to agencies to run catering and the shop when you could be a key community employer. The money we have wasted in a football sense is also shocking. It’s sad that as a club we spent so long doing things the right way while Hearts didn’t yet they end up the community club and we are now at the whim of the investment market." The pain in this post. Hearts, the community club. Quote Link to comment Share on other sites More sharing options...
TexasAndy Posted February 9 Share Posted February 9 I think this thread is a reminder of the benefits of being a well run club. Think on. Quote Link to comment Share on other sites More sharing options...
Bauld Posted February 9 Share Posted February 9 Won't miss them. Won't miss the derby. Will never forget their conduct during our administration. May their misery be brutal and their death painful. FTH Quote Link to comment Share on other sites More sharing options...
Bazzas right boot Posted February 9 Share Posted February 9 3 minutes ago, Pap said: https://www.hibs.net/showthread.php?365456-Hsl&p=7581089&viewfull=1#post7581089 "5. Decision-making - the club is very poorly run - existing staff appeared to be dispensed with early and money wasted on a lot of vanity projects. Why pay so much to agencies to run catering and the shop when you could be a key community employer. The money we have wasted in a football sense is also shocking. It’s sad that as a club we spent so long doing things the right way while Hearts didn’t yet they end up the community club and we are now at the whim of the investment market." The pain in this post. Hearts, the community club. Aye. But community club means- Scones Tea mornings Cuddles Wumunz team Going soft Hotels Nae focus on the men's team Etc, etc It's a bad thing, are you not upto date with the JKB roasters take on "Granny Budge" and her 5 year plan to make us soft and ruin us! Quote Link to comment Share on other sites More sharing options...
Serge Posted February 9 Share Posted February 9 Often wondered how big Hearts could be in a one club city. Buckle up everyone! 😃 Quote Link to comment Share on other sites More sharing options...
Skivingatwork Posted February 9 Share Posted February 9 They’ll be absolutely fine. The revenues from the constant 20k+ attendances and the HSL pyramid scheme will come to the rescue. Quote Link to comment Share on other sites More sharing options...
Carter Posted February 9 Share Posted February 9 11 minutes ago, Pap said: https://www.hibs.net/showthread.php?365456-Hsl&p=7581089&viewfull=1#post7581089 "5. Decision-making - the club is very poorly run - existing staff appeared to be dispensed with early and money wasted on a lot of vanity projects. Why pay so much to agencies to run catering and the shop when you could be a key community employer. The money we have wasted in a football sense is also shocking. It’s sad that as a club we spent so long doing things the right way while Hearts didn’t yet they end up the community club and we are now at the whim of the investment market." The pain in this post. Hearts, the community club. Just clicked on the link you posted and read the comments you've referenced. The guy is absolutely spot on with his observations. Few Hibs supporting pals are pretty worried about this situation. More worried privately than they may care to admit I sense. Ultimately we don't know the intentions or outlook of the Gordon family. To end up potentially a feeder/associated club of Bournemouth FC is a painful prospect for most Hibs fans I'd imagine. A smaller club than Hibs and Hearts historically yet catapulted to several multiples of our respective income through the obscene financial disparity between English and Scottish football. Quote Link to comment Share on other sites More sharing options...
Jim Panzee Posted February 9 Share Posted February 9 18 minutes ago, Bazzas right boot said: Aye. But community club means- Scones Tea mornings Cuddles Wumunz team Going soft Hotels Nae focus on the men's team Etc, etc It's a bad thing, are you not upto date with the JKB roasters take on "Granny Budge" and her 5 year plan to make us soft and ruin us! Indeed. Only a few months ago we were a shambles according to some. suppose I'll need to donate one of my fave pics to hibs.net: Quote Link to comment Share on other sites More sharing options...
RustyRightPeg Posted February 9 Share Posted February 9 It’s fantastic reading. It really is. Quote Link to comment Share on other sites More sharing options...
EH11 2NL Posted February 9 Share Posted February 9 "It’s sad that as a club we spent so long doing things the right way while Hearts didn’t yet they end up the community club and we are now at the whim of the investment market." They make up their own reality, we had a dodgy owner for a little period, we ended up with debt written off via the CVA. Since then we have done everything (apart from playing football) very well. They also had their debt written off, short memories. Hope it all crashes around them and their weekends can forevermore be spent cheering on whoever is playing us. Quote Link to comment Share on other sites More sharing options...
jock _turd Posted February 9 Share Posted February 9 Hate to say it but my guess is they will continue to muddle along on the scraps they get from their owners. As long as they have poor managers they will toil, thats it in a nut shell if they ever do get a decent manager their fortunes could change quite a bit. To be honest their fans cannot have it both ways they have not actually been starved of funds to buy players. Their problem is bad on field management and player recruitment. Of course now they are shackled to Bournemouth FC they will struggle to get decent players... which is nice😂 I get the feeling that many of their fans think this hook up with Foley is going to be good for the club and he will be a major donator of funds but that remains to be seen. They are looking at his 6 million as an investment I think it is more a way of buying a stake in the assets, if there are any, of the club by way of getting a share holding it is paying debt not buying players. I don't know much about corporate finace though. Quote Link to comment Share on other sites More sharing options...
hughesie27 Posted February 9 Share Posted February 9 The debt has apparently came from them investing heavily in their hospitality and pitch. I'd be more concerned about their next AGM where they are going to be asked to voluntarily reduce the threshold for selling the whole club from 90% (standard practice) to 80% (A level which means the Gordons and Foley can push it through themselves). Currently, without this new Share Issue, HSL and other shareholders have the power to block such a move. When the share issue comes into play Foley and Gordons will own more than 80% of the shares. The Gordons will be selling up withing 2 years to an arm of the Black Knight Group. Quote Link to comment Share on other sites More sharing options...
AC Mallin_51 Posted February 9 Share Posted February 9 (edited) Some of them have the cheek to poke fun at the FoH aswell. I remember a few hibees telling me through the years that it wouldn’t work and wasn’t sustainable. No sympathy for them Edited February 9 by AC Mallin_51 Quote Link to comment Share on other sites More sharing options...
Victorian Posted February 9 Share Posted February 9 I can't find an appropriately sized violin. Does anyone have a nano-violin I can borrow? Hope they rot and return to the earth. Quote Link to comment Share on other sites More sharing options...
Fozzyonthefence Posted February 9 Share Posted February 9 42 minutes ago, Pap said: https://www.hibs.net/showthread.php?365456-Hsl&p=7581089&viewfull=1#post7581089 "5. Decision-making - the club is very poorly run - existing staff appeared to be dispensed with early and money wasted on a lot of vanity projects. Why pay so much to agencies to run catering and the shop when you could be a key community employer. The money we have wasted in a football sense is also shocking. It’s sad that as a club we spent so long doing things the right way while Hearts didn’t yet they end up the community club and we are now at the whim of the investment market." The pain in this post. Hearts, the community club. What a load of pish! Hibs were in millions of debt too until Bank of Scotland decided to write off all their football debts in Scotland. Quote Link to comment Share on other sites More sharing options...
Batistuta87 Posted February 9 Share Posted February 9 1 hour ago, Dazo said: I think this is something for the braindead amongst us to digest when screaming about the fat farters or old ladies running our club. The contrast couldn’t be any more stark. Aye well put Dazo. We're generating revenue other clubs just aren't capable of generating. Quote Link to comment Share on other sites More sharing options...
south morocco Posted February 9 Share Posted February 9 2 minutes ago, Fozzyonthefence said: What a load of pish! Hibs were in millions of debt too until Bank of Scotland decided to write off all their football debts in Scotland. Selective memory Fozzy. Quote Link to comment Share on other sites More sharing options...
Victorian Posted February 9 Share Posted February 9 Just now, Fozzyonthefence said: What a load of pish! Hibs were in millions of debt too until Bank of Scotland decided to write off all their football debts in Scotland. Correct. Hibs were among a number of clubs who effectively went through an insolvency event under a different guise. Quote Link to comment Share on other sites More sharing options...
Vlad Magic Posted February 9 Share Posted February 9 Can we lend them the cash cow for a month or 2? Quote Link to comment Share on other sites More sharing options...
Bazzas right boot Posted February 9 Share Posted February 9 19 minutes ago, Jim Panzee said: Indeed. Only a few months ago we were a shambles according to some. suppose I'll need to donate one of my fave pics to hibs.net: A particular poster who tends to post from dusk to dawn when we have bad form seems to have left the building anaw It's amazing what a good run can do! It clears the place out! Quote Link to comment Share on other sites More sharing options...
Bindy Badgy Posted February 9 Share Posted February 9 1 hour ago, i wish jj was my dad said: Terrible news. I'm gutted for them. Me too. Absolutely devastated. We should write some letters to their creditors. Quote Link to comment Share on other sites More sharing options...
Tommy Brown Posted February 9 Share Posted February 9 (edited) 1 hour ago, Armageddon said: And folk on here greet about our hotel 😂 I read that and couldn’t help but masterbate, the only downside is…. im on the train to work. Keep up the good work Hibernian FC ❤️😂 Don't let it stop you, it's a perfectly natural action, no different to blowing your nose. Edited February 9 by Tommy Brown Quote Link to comment Share on other sites More sharing options...
leginten Posted February 9 Share Posted February 9 I’m sure if push comes to shove the Hibs fans will dig deep and sacrifice their own personal assets to save the club. A couple of hundred charred spoons will surely fetch a fair sum on the open market. And I believe there are a lot of iPads somewhere that could also be put up on ebay. Quote Link to comment Share on other sites More sharing options...
OTT Posted February 9 Share Posted February 9 Am I correct in saying that they basically chased Farmer off to get a sale to someone with "more ambition" ? Seems to me the sensible thing to have done was for Farmer to retain ownership with a consortium of Hibs fans taking a minority stake with fan representation involved too. Instead they've sold their soul to become the bottom team in a 3rd rate clubs football pyramid. Quote Link to comment Share on other sites More sharing options...
I.T.K Posted February 9 Share Posted February 9 Heartbroken.... you mean Hibsbroken... Quote Link to comment Share on other sites More sharing options...
JAYEL Posted February 9 Share Posted February 9 Quote Link to comment Share on other sites More sharing options...
Vlad Magic Posted February 9 Share Posted February 9 I wonder if the thousands of “fans” who abused the concession ST system are now regretting it? That alone must have cost the club millions over the years. Quote Link to comment Share on other sites More sharing options...
jamboozy Posted February 9 Share Posted February 9 1 hour ago, Dazo said: I think this is something for the braindead amongst us to digest when screaming about the fat farters or old ladies running our club. The contrast couldn’t be any more stark. True Dazo, no contest when comparing club management. Quote Link to comment Share on other sites More sharing options...
been here before Posted February 9 Share Posted February 9 1 hour ago, Bazzas right boot said: Aye. But community club means- Scones Tea mornings Cuddles Wumunz team Going soft Hotels Nae focus on the men's team Etc, etc It's a bad thing, are you not upto date with the JKB roasters take on "Granny Budge" and her 5 year plan to make us soft and ruin us! 'Im not going back until "that woman" is out my club' Halcyon days. Quote Link to comment Share on other sites More sharing options...
Australis Posted February 9 Share Posted February 9 1 hour ago, Pap said: https://www.hibs.net/showthread.php?365456-Hsl&p=7581089&viewfull=1#post7581089 "5. Decision-making - the club is very poorly run - existing staff appeared to be dispensed with early and money wasted on a lot of vanity projects. Why pay so much to agencies to run catering and the shop when you could be a key community employer. The money we have wasted in a football sense is also shocking. It’s sad that as a club we spent so long doing things the right way while Hearts didn’t yet they end up the community club and we are now at the whim of the investment market." The pain in this post. Hearts, the community club. It's wonderful reading. He is pointing out the dangers and downsides and he knows the club owners are at it. But they are still going to vote it through at the end of the month. 🙂 Has Ron's family given the wee team fans an update of where they intend to take them since he passed? . Quote Link to comment Share on other sites More sharing options...
Bazzas right boot Posted February 9 Share Posted February 9 6 minutes ago, been here before said: 'Im not going back until "that woman" is out my club' Halcyon days. Yip, folk actually typed that stuff out! Quote Link to comment Share on other sites More sharing options...
Bazzas right boot Posted February 9 Share Posted February 9 It's simple- Hibs need a 5 year plan. Quote Link to comment Share on other sites More sharing options...
i wish jj was my dad Posted February 9 Share Posted February 9 1 hour ago, Bazzas right boot said: Aye. But community club means- Scones Tea mornings Cuddles Wumunz team Going soft Hotels Nae focus on the men's team Etc, etc It's a bad thing, are you not upto date with the JKB roasters take on "Granny Budge" and her 5 year plan to make us soft and ruin us! Probably not the thread for it but this is a point that gets lost on a lot of people. The club have taken a very deliberate path away from focusing solely on the first team to attract investment and increase income generation. Getting the football department right is of course important but we know as well as anyone that we need to run a sustainable model that doesn't rely on the benevolence of a sugar daddy or foreign 'investor'. The shite were too stupid to learn from that when STF stopped bailing them out. Quote Link to comment Share on other sites More sharing options...
jock _turd Posted February 9 Share Posted February 9 Just now, Bazzas right boot said: Yip, folk actually typed that stuff out! Yes but where they Hearts supporters ? Quote Link to comment Share on other sites More sharing options...
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