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Hibs debt situation explained by Hibs Supporters Ltd Chairman.


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7 minutes ago, been here before said:

 

'Im not going back until "that woman" is out my club' :rofl:

 

Halcyon days.

 

We're in a good place and long may it continue. But it would be revisionism at it's best to try and suggest there haven't been some appalling decisions under the Budge stewardship.

 

One poster in particular appears keen to take aim repeatedly at views on here that differ from his own. That's a fact of life. Difficult to understand why it bothers him as much as it would seem 🤷‍♂️

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Geddyalexneil

This bit here...

 

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.

 

How deluded or indeed up their own sphincter are these folks? They believe they have some sort of moral superiority over us in all they have done. Jeez, they need help!

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49 minutes ago, jock _turd said:

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.


I am not so sure that a good manager will make a difference. He will be forced to play who the BK decide and the clubs youngsters look at the recent Delfeirre and Whittaker being hoisted into the first team which went badly.

 

The turnover per season on players will prevent any momentum. 

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Australis

Wonder if now that Ron Gordon has passed, if the remaining family members want out of the club, and Foley is the start.

 

Will they just sit on their Easter road investment while watching the prices for housing development on the site going up and up.

 

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jimbojambo

I think that you have to look at what the Gordon's and Foley are wanting from their investments. Ron saw player trading as being profitable while Foley wants to use it as a stepping stone to the Bournemouth team. The possible conflict will arise when the Gordons want to cash in on a player and Foley wants him to go to Bournemouth. Two conflicting objectives which won't work so asset strip and sell in separate parts as per the American model. 

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jock _turd
1 minute ago, jimbojambo said:

I think that you have to look at what the Gordon's and Foley are wanting from their investments. Ron saw player trading as being profitable while Foley wants to use it as a stepping stone to the Bournemouth team. The possible conflict will arise when the Gordons want to cash in on a player and Foley wants him to go to Bournemouth. Two conflicting objectives which won't work so asset strip and sell in separate parts as per the American model. 

 

In the background is FIFA going to step in to stop football setups like these? The ManC hook up with Girona has already attracted their attention.

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I wonder what that Matty_f scruff is getting out of all of his Judas goat stuff ? Hope he gets at least something for all his sterling work in stitching them up . A second hand IPad maybe , or a promise of interviews with club officials ……….. Ben Kensell should just put him on the payroll

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18 minutes ago, Bazzas right boot said:

 

Yip,  folk actually typed that stuff out!

 

Some of those posters have already poted on this thread. The irony!! :lol:  

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SectionDJambo
1 hour 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. 

Yes.

During my lifetime, other than during the 70s, Hibs fans have always been more interested in what we are doing, financially in particular, than looking at what is happening to their own club. They always want a sugar daddy owner who is going to put his hand in his pocket because they don't want to contribute themselves.

We ruined them when Wallace turned up and made it his mission to have Hearts dominate Hibs on the pitch, and succeeded with 17 then 22 in a row. They've been obsessed with us ever since, even more so after the 5-1, and thought we were finished during the dark days immediately prior to administration and then the spiteful demotion, which Hibs were happy to kick us with. They were sick when we emerged from both of these events.

When I was still working, a Hibs fan at work asked me if I paid into FOH. When I told him "of course", he said that he couldn't understand why Hearts fans were giving money to our club for nothing in return. We were mugs in his opinion. I told him it was to make sure that we still had our football club. 

I didn't agree with Wallace trying to take over Hibs. Now, they would get no sympathy from me if they disappear into oblivion.

 

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Victorian
1 minute ago, henrysmithsgloves said:

Who are going to provide us with entertainment when they go tits up?

 

Still them.  Always them.  Until they are dead.  And even then...

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1 minute ago, henrysmithsgloves said:

Who are going to provide us with entertainment when they go tits up?


They will just newco and alter their name slightly . Best of both worlds they die off , and they form a new club that we can continue to toy with 

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stuart500

At the Foley share price it would take over £20m to buy out Foley and the Gordons. That's assuming Foley just gets his money back with no investment return. 

 

The hobbits better start their cake sales and beetle drives soon to raise the cash in case their owners tire of their plaything.

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Clark Griswold
1 hour 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:

 

image.jpeg.c4db6f8ec04533a98dcb30ee15388be4.jpeg

Blowfish has lost a few lbs

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henrysmithsgloves
1 minute ago, Sooks said:


They will just newco and alter their name slightly . Best of both worlds they die off , and they form a new club that we can continue to toy with 

The wee/er team? The third best pub team in Edinburgh? Suggestions on a post card please.....

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Just now, henrysmithsgloves said:

The wee/er team? The third best pub team in Edinburgh? Suggestions on a post card please.....


The Hibernians

AFC Hibs

The Shite

The Vermin

The Blind Lemmings

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Gorgierools
Just now, Sooks said:


The Hibernians

AFC Hibs

The Shite

The Vermin

The Blind Lemmings

I wish we were as big as Spartans fc

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jimbojambo

I didn't realise Hibs charge mascots £100 for the experience. My Granddaughter got this free from Hearts along with 3 tickets, Signed letter and programme and catering vouchers. We truly are a class apart or as our Hibbie friend so succinctly put it the Community Club😊

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Just now, jimbojambo said:

I didn't realise Hibs charge mascots £100 for the experience. My Granddaughter got this free from Hearts along with 3 tickets, Signed letter and programme and catering vouchers. We truly are a class apart or as our Hibbie friend so succinctly put it the Community Club😊

 

Hearts charge too and its not cheap. 

 

Just the done thing for clubs these days, unfortunately. Another income source.

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Victorian

If Hibs die and have a newco,  they might be the first ever to disown their own history and heritage.  

 

 

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Just now, Victorian said:

If Hibs die and have a newco,  they might be the first ever to disown their own history and heritage.  

 

 

 

A newco would have absolutely no heritage behind it. Wouldn't be able to claim any Irish connections etc.

 

Be as well naming themselves FC Leith or Lochend 

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jimbojambo
2 minutes ago, Homme said:

 

Hearts charge too and its not cheap. 

 

Just the done thing for clubs these days, unfortunately. Another income source.

No if you join Junior Jambos it's free. My Granddaughter was one of the mascots in December. I believe other clubs charge but Hearts do not. 

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WorldChampions1902

So much being trumpeted about what this Black Knights consortium will bring to the Vermin. I suspect the Barron Knights will be more likely, with their big hit “A Taste of Aggro”.

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Victorian
5 minutes ago, Homme said:

 

A newco would have absolutely no heritage behind it. Wouldn't be able to claim any Irish connections etc.

 

Be as well naming themselves FC Leith or Lochend 

 

Leith Seagulls.

 

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Seem to remember Tom Farmer allowing some kind of debt forgiveness on a fairly regular basis.Is it when this ended that reality set in,remember where they were  before Farmer came along.

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hereford_hearts
55 minutes ago, OTT said:

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.  :lol: 

I think Farmer saw the success of FoH ploughing cash into buying Hearts out of trouble, and pushed for the formation of HSL to do the same thing. 

Then after the lack of HSL momentum, decided to flog his shares to Gordon, to get out of the financial calamity, that he had been bailing out for years. 

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jamboinglasgow

Saw these tweets yesterday highlighting what their CEO said. Some worrying things for Hibs fans there

 

 

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El jambo lambrusco
2 hours 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 ❤️😂

😂😂😂😂😂😂😂😂😂

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kingantti1874

It’s pretty clear they NEED the black knights money.  They are in serious bother of they don’t accept 

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4 minutes ago, jamboinglasgow said:

Saw these tweets yesterday highlighting what their CEO said. Some worrying things for Hibs fans there

 

 


Slippery little weasel that guy 

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gorgie rd eh11
1 hour ago, Victorian said:

 

Correct.  Hibs were among a number of clubs who effectively went through an insolvency event under a different guise.  

 

And not for the first time. In 1991 Edinburgh Hibernian PLC went into liquidation, Farmer bought the football side of the business. They've brushed that under the carpet though, because they always do things the right way.

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highlandjambo3
18 minutes ago, jimbojambo said:

I didn't realise Hibs charge mascots £100 for the experience. My Granddaughter got this free from Hearts along with 3 tickets, Signed letter and programme and catering vouchers. We truly are a class apart or as our Hibbie friend so succinctly put it the Community Club😊

I paid £230 for my grandsons mascot package (6-1 v Ross County).  There were 6 mascots that day.  Paid for my granddaughters as well prior to that (5-1  v ICT)

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16 minutes ago, jimbojambo said:

No if you join Junior Jambos it's free. My Granddaughter was one of the mascots in December. I believe other clubs charge but Hearts do not. 

 

I think they give one or two spaces away free mate (paid by a sponsor) but it's definitely not a free for all. 

 

My boy is in JJ's and we forked out around 170 for his mascot package against PAOK. Steep but it was a one time thing for him and some amazing memories made.

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Bull's-eye

If you spend all your time, effort and your money, then someone elses money just to keep up with your local rivals, this is always the inevitability.

 

Good owners live in the real world and are there to get the business model right and hopefully the Football side of things thrive due to good planning and sensible decisions.

 

Then there's Hibs, more interested in being 1 point ahead of Hearts. Celebrate draws. More interested with whats happening in Gorgie than the inevitable Shitstorm brewing in front of their own peepers.

 

I doubt they'll be in any sort of trouble because Foley won't allow them to fold which is unfortunate and the rest of the league aren't exactly investing, so i predict they'll just stumble along as they normally do.

 

Insignificant Shite.

 

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CloustonHMFC

From someone on the outside, with a fairly limited business knowledge, this looks to me to be paving the way for the Gordons to sell up a little down the line. Changing the procedures that mean someone only has to buy 80% of the shares to force the minority shareholders to sell is a sly move and one the vast majority won't understand or take into consideration. Give it 5 years and Hibs will be a lower half Premiership side with a bunch of Bournemouth academy players on loan, and all Hibs youth talent get sent there for peanuts.

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9 minutes ago, kingantti1874 said:

It’s pretty clear they NEED the black knights money.  They are in serious bother of they don’t accept 

 

Rock and a hard place for them isn't it. They are ****ed either way. Taking the money from BK might see them have a little more fun on their way down though.

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Des Lynam
18 minutes ago, jamboinglasgow said:

Saw these tweets yesterday highlighting what their CEO said. Some worrying things for Hibs fans there

 

 


 

Chasing success!!!! 
 

:rofl: 

 

The utter delusion amongst the fan base has spread to the boardroom. 
 

 

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WorldChampions1902
2 minutes ago, Des Lynam said:


 

Chasing success!!!! 
 

:rofl: 

 

The utter delusion amongst the fan base has spread to the boardroom. 
 

 

The Vermin, “chasing success”.

 

The Famous “achieving success”.

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Remnants of Standards

What looked like a black knight riding to save them could be a train approaching. Hope it flattens them for good.

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FarmerTweedy
2 hours 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.

 

:jjyay:

 

Hearts, the community club.

 

:greggy:

I thought we were the Establishment club? Can you be that and the community club at the same time?  

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FarmerTweedy
2 hours 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!

 

 

You forgot knitting!  

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1971fozzy

Imagine these clowns budgeting for European footballl and cup semi final runs.  A blind man wouldn’t do that whilst spunking millions chasing the dream and failing miserably to the point of having to sell up and risk it all 🤣🤣

 

I wonder if they’ve paid back their government covid loan as well ? 
That Matty from Longbangers must be on the Bournemouth payroll. At least the HSL boy calls it out for what it is - a slow death 

Edited by 1971fozzy
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The sad thing about Hibs supporters is there complete inability to learn from the past. They had a cast iron opportunity to take control of their own club but in true Hibs fashion they blew it big style.  Now they are once again at the mercy of people who might well have their eyes of the commercial value of the real estate they have on their hands.  

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leipzig76
7 hours ago, Section Q said:

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

Have I missed something here ? Who else do they owe money to ?

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gorgie rd eh11

Pretend attendances to boost perception of the club don’t bring in hard cash. Another delusion they’re falling for.

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1 hour ago, Sooks said:


They will just newco and alter their name slightly . Best of both worlds they die off , and they form a new club that we can continue to toy with 

Originally they were Hibernians then Hibernian , must be Hibernia next?

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NaturalOrder74

It’s a bit of a scandal they can’t just make up their profit / loss like they make up their attendance every week 🤣

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