Hibs Financials

[Hagar the Horrible]

Hibs hoboconomists will be spitting feathers at the Hobos returning a loss

and they have no dosh to build their new stand

 

 

Sorry if this is posted elsewhere but you have just got to laugh:)

 

Tick Tock

[maroonlegions]

Hibs hoboconomists will be spitting feathers at the Hobos returning a loss

and they have no dosh to build their new stand

 

 

Sorry if this is posted elsewhere but you have just got to laugh:)

 

Tick Tock

 

 

 

did it not say in the EEN that they have made a profit again this year, if not then it will be funny as feck.:107years:

[Hagar the Horrible]

http://news.bbc.co.uk/sport1/hi/football/teams/h/hibernian/7615752.stm

 

so it was a lie in the EEN

[ToadKiller Dog]

http://news.bbc.co.uk/sport1/hi/football/teams/h/hibernian/7615752.stm

 

so it was a lie in the EEN

 

No the evening hobo was telling the truth its just that hibs profits were disguised as seats or maybe got lost on the way to the bank

[Charlie-Brown]

So they make losses and have debts ....... for sure Hearts need to improve their financial and footballing performance but maybe it's time our Financial-&-Economic-Experts from across the city followed some of their own advice - they clearly aren't selling enough players at a profit and obviously they are paying far too high salaries in relation to their revenues - Petrie admits as much.

[Vini_Hibs]

Actually no, Hibs made ?1.2M net profit and have a debt of ?2.8M but have cash in the bank of ?3.9M.

 

The loss on operations was before transfers were included

[Charlie-Brown]

Actually no, Hibs made ?1.2M net profit and have a debt of ?2.8M but have cash in the bank of ?3.9M.

 

The loss on operations was before transfers were included

 

Why are Hibs operating at a loss? That doesn't seem like a very sound business model and you can't always rely on having players to sell at transfer fee's high enough to cover losses...... Petrie should cut back the wage bill to a realistic & affordable level.

[Vini_Hibs]

Why are Hibs operating at a loss? That doesn't seem like a very sound business model and you can't always rely on having players to sell at transfer fee's high enough to cover losses...... Petrie should cut back the wage bill to a realistic & affordable level.

 

He is and has started by taking a drop in wages himself. I think most clubs that have a poor season will struggle to make an operating profit. Fortunately we do still have players that can be sold. Also the training centre is bought and paid for and most of the money is in place to redevelop the east stand. Having that done without increasing the debt is pretty good management I'd say.

[Konrad von Carstein]

He is and has started by taking a drop in wages himself. I think most clubs that have a poor season will struggle to make an operating profit. Fortunately we do still have players that can be sold. Also the training centre is bought and paid for and most of the money is in place to redevelop the east stand. Having that done without increasing the debt is pretty good management I'd say.

 

"We intend to ring fence a substantial portion of resources for an appropriate new East Stand when the time is right"

 

The quote from the BBC article above would suggest that you are mistaken with you assertion that the money is in place...having an intention and actually putting the funds in place are two different things...am having a go at not enjoying this schadenfraud moment given the amount af cack spouted by the masses on dotnet over the years about our finances...but it is proving difficult.

[Vini_Hibs]

My reading of "we intend to ring fence a substantial portion of resources" means that of the ?3.9M in the bank a large portion of that will not be spent on anything other than the east stand. Granted we do not have all the money to build a new east stand, but it will happen sooner rather than later. More delays just mean more expense.

[Charlie-Brown]

Either that or there is little prospect of supporter numbers rising sufficiently in the short to medium term to justify the expense of building a new stand at this moment in time - also corporate revenues are likely to be stagnant or decline in the immediate term.

[Konrad von Carstein]

My reading of "we intend to ring fence a substantial portion of resources" means that of the ?3.9M in the bank a large portion of that will not be spent on anything other than the east stand. Granted we do not have all the money to build a new east stand, but it will happen sooner rather than later. More delays just mean more expense.

 

With respect and absolutly zero knowledge of the intricacies of finance...my reading of that is that there are no significant funds in place yet...this view (if correct) would be a huge dildo up the ringpiece for so many hibs fans who have taken great delight in throwing their amatuer financial theories about HMFC about for so many years.

That being said I do hope (honest!) that you do complete the development of ER along with a completed Tynecastle...two fantastic stadiums in Edinburgh is the least our respective football clubs deserve.

[StAndrewsHMFC]

With respect and absolutly zero knowledge of the intricacies of finance...my reading of that is that there are no significant funds in place yet...this view (if correct) would be a huge dildo up the ringpiece for so many hibs fans who have taken great delight in throwing their amatuer financial theories about HMFC about for so many years.

That being said I do hope (honest!) that you do complete the development of ER along with a completed Tynecastle...two fantastic stadiums in Edinburgh is the least our respective football clubs deserve.

 

I actually know a fair bit about Hibs financial side of things, not giving too much away- they use break-even point as making the quarter-finals of the two cups and 4th place in the league, reckoning on 4 games in uefa every 2 seasons. They did not hit the break-even point in the last year, and attendences were less than bargained for in the league. The transfers turned the operating loss into a net profit. The net debt position takes cash in bank into consideration- ie Hibs like every team in the SPL are absolutely insolvent, just not practically insolvent

[The Old Tolbooth]

My reading of "we intend to ring fence a substantial portion of resources" means that of the ?3.9M in the bank a large portion of that will not be spent on anything other than the east stand. Granted we do not have all the money to build a new east stand, but it will happen sooner rather than later. More delays just mean more expense.

 

But you don't have enough fans to fill it.....

[leginten]

I actually know a fair bit about Hibs financial side of things, not giving too much away- they use break-even point as making the quarter-finals of the two cups and 4th place in the league, reckoning on 4 games in uefa every 2 seasons. They did not hit the break-even point in the last year, and attendences were less than bargained for in the league. The transfers turned the operating loss into a net profit. The net debt position takes cash in bank into consideration- ie Hibs like every team in the SPL are absolutely insolvent, just not practically insolvent

 

They're probably wise to err on the safe side...

 

[Konrad von Carstein]

I actually know a fair bit about Hibs financial side of things, not giving too much away- they use break-even point as making the quarter-finals of the two cups and 4th place in the league, reckoning on 4 games in uefa every 2 seasons. They did not hit the break-even point in the last year, and attendences were less than bargained for in the league. The transfers turned the operating loss into a net profit. The net debt position takes cash in bank into consideration- ie Hibs like every team in the SPL are absolutely insolvent, just not practically insolvent

 

Sooo apart from the differences in the figures they are as much "in the poop" as us? Despite thier fans protestations/slavering, just a difference in the levels?

[The Old Tolbooth]

reckoning on 4 games in uefa every 2 seasons.

 

What about the inter two bob?

[StAndrewsHMFC]

Sooo apart from the differences in the figures they are as much "in the poop" as us? Despite thier fans protestations/slavering, just a difference in the levels?

 

We're all in the poop, we're just further in than most! Our debt is considerably higher than Hibs, however I have no idea where it is what with Vlad knocking of ?12m and the Gordon/Bednar/Velicka sales and a almost certain loss on wages last season.

 

The disapointing thing for Hibs is they have been trying for a couple of years to achieve break-even and they are currently still spending more (mostly in wages) than they are bringing in.

 

Don't get me wrong I'd rather be in Hibs debt position than ours, but if Vlad decides to wipe ?12m every year we should be sorted by 2010. Just need to get things right on the park then...

[Konrad von Carstein]

We're all in the poop, we're just further in than most! Our debt is considerably higher than Hibs, however I have no idea where it is what with Vlad knocking of ?12m and the Gordon/Bednar/Velicka sales and a almost certain loss on wages last season.

 

Ah! I kinda thought that

 

The disapointing thing for Hibs is they have been trying for a couple of years to achieve break-even and they are currently still spending more (mostly in wages) than they are bringing in.

 

Not disappointing for the rest of us who have been subjected to a chinese water tortue of hibs fans financial orations about our "mess of a club"

 

Don't get me wrong I'd rather be in Hibs debt position than ours, but if Vlad decides to wipe ?12m every year we should be sorted by 2010. Just need to get things right on the park then...

 

 

Nice one....we are sorted!

[PTBCAL]

I know for a fact that Hibs have held tenative talks with various building companies about the new stand and the council about the deadline to build it.

 

I think it's Feb 2010 or somethng like that when objections can be received if building does not take begin before then.

[bishyhibby15]

I actually know a fair bit about Hibs financial side of things, not giving too much away- they use break-even point as making the quarter-finals of the two cups and 4th place in the league, reckoning on 4 games in uefa every 2 seasons. They did not hit the break-even point in the last year, and attendences were less than bargained for in the league. The transfers turned the operating loss into a net profit. The net debt position takes cash in bank into consideration- ie Hibs like every team in the SPL are absolutely insolvent, just not practically insolvent

 

I don't know how you can hold the view that Hibs are absolutely insolvent if not paractically insolvent.

 

The accounts show that subtracting the vaue of liabilites like mortgages and loans from assets like the value of the stadium and the training centre Net assets are a positive ?14.7m. I don't know what Hearts current position is and as long as you have the continued backing of your owner you don't have a problem but your last published accounts, if I remember correctly showed a neagative net worth of the business

[scott herbertson]

 

I think it's Feb 2010 or somethng like that when objections can be received if building does not take begin before then.

 

Planning permission doesn't last forever. Hibs have planning permission to build the stand but must start the building within the agreed timeframe.

 

If they don't, then they will have to go through the process of applying again.

 

It could well be turned down if they go down that route, because they have in effect created a new set of potential objectors by selling the car park for housing.

[portobellojambo1]

I know for a fact that Hibs have held tenative talks with various building companies about the new stand and the council about the deadline to build it.

 

I think it's Feb 2010 or somethng like that when objections can be received if building does not take begin before then.

 

Correct, the date in February 2010 is the date at which the planning permission Hibernian have to build their East stand expires. That planning permission came into place before all the housing was built immediately behind the existing stand on that side of the ground. And there seems to be a general feeling that if they do not get the new stand started before then (it doesn't have to be finished by then but significant work must have taken place by then) they could run into objections which would make starting construction after that date very difficult.

 

EDIT - Sorry, just seen Scott's post (note to self, learn to type faster).

[PTBCAL]

Planning permission doesn't last forever. Hibs have planning permission to build the stand but must start the building within the agreed timeframe.

 

If they don't, then they will have to go through the process of applying again.

 

It could well be turned down if they go down that route, because they have in effect created a new set of potential objectors by selling the car park for housing.

 

SH

 

Agree.

 

If Hibs do not show a considerable amount of work begun in relation to the new stand by a certain date (Fen 2010 rings a bell) then they are open to objections when they would be forced to re-apply.

 

I think Hibs have looked at the cost in today climate and decided it is not worth it. After all they expected a sold out ER road yesterday for the return of the messiah and they got 1,000 less (13,390 I believe) than turned up the last time the clubs played at ER.

[scott herbertson]

SH

 

Agree.

 

If Hibs do not show a considerable amount of work begun in relation to the new stand by a certain date (Fen 2010 rings a bell) then they are open to objections when they would be forced to re-apply.

 

I think Hibs have looked at the cost in today climate and decided it is not worth it. After all they expected a sold out ER road yesterday for the return of the messiah and they got 1,000 less (13,390 I believe) than turned up the last time the clubs played at ER.

 

There's quite a lot of background to this on Hibs Net. They woud have a fair chance of getting approval it seems as the previous consent took into account the building of the new houses. So long as they didn't change the design too much it woudl be hard to deny the application if resubmitted substantively the same. However, it's always risky as planners have to listen to objectors and planning guidance can change.

 

I wouldn't be surprised if both Hearts and Hibs are getting cold feet on the stands. Trouble for us is our main stand can't have too many years in it.

[jackal]

If most of the money is in place and they only have 3.9 million profit according to does that mean they are going further into debt . Or does it mean that they will live up to their status . Wee team wee stand Vs Big team big stand. How much to build a stand that size? No doubt they will use some of the money from the profit they made on the Lochend butterfly

[Ribble]

He is and has started by taking a drop in wages himself. I think most clubs that have a poor season will struggle to make an operating profit. Fortunately we do still have players that can be sold. Also the training centre is bought and paid for and most of the money is in place to redevelop the east stand. Having that done without increasing the debt is pretty good management I'd say.

 

Is Petries paycut not negated by the increase given to one of the other directors/ chief exec due to increased responsibilities?

[Hagar the Horrible]

Planning permission for the East stand (if granted, has this been confirmed?) will last for 3 years but extensions can be granted upon application and are very rarely refused. The question is HIbs are on a floating time bomb, petrie has been too thrifty with the cash, and as a result they have exhausted natural resources to sell to the OF? the next batch of teenagers are rank rotten, so welcome to the downward spiral that is Hibs?

 

Hibs are right to delay the building work until the current credit crunch is over, but a couple of bad seasons and that so called healthy bank account that has been ring fenced will soon be eaten into.......Tick Tock.

[Rudolf's Mate]

Hibs don't have ALL the funds in place, which is why they are not pushing ahead with it in the foreseable future. Bottom line is that in today's climate it is going to be near impossible to secure a loan on decent terms/rates! If they did secure the money now they would be paying through the nose for it and it doesn't make sense. Plus there is the issue with rising cost of materials!

 

And they laugh at us!!! It's simply good business sense.

[SMcD]

Planning permission for the East stand (if granted, has this been confirmed?) will last for 3 years but extensions can be granted upon application and are very rarely refused. The question is HIbs are on a floating time bomb, petrie has been too thrifty with the cash, and as a result they have exhausted natural resources to sell to the OF? the next batch of teenagers are rank rotten, so welcome to the downward spiral that is Hibs?

 

Hibs are right to delay the building work until the current credit crunch is over, but a couple of bad seasons and that so called healthy bank account that has been ring fenced will soon be eaten into.......Tick Tock.

 

Hibs have had planning consent for the stand for some time. Planning consent is valid for 5 years - in Hibs case this expires in February 2010. A Building Warrant is valid for 3 years - this is possibly where you're getting confused. As far as I'm aware, Hibs have not yet submitted a Building Warrant application (which should probably take in the region of 3 months to process).

 

Otherwise, why do you think that Hibs are on a "floating time bomb"? Their debt is now less than ?3M, with cash in hand at the end of the last financial year of around ?4M. There is no need to sell players (rank rotten or not) and there's plenty of room for manoeuvre should there be a need to increase borrowing to complete the stadium.

 

If I were you, I wouldn't talk about time bombs until HMFC's latest accounts ar published (?12M write-off or not).

[Rudolf's Mate]

Bear in mind that the sale of Gordon and others is to be presented in the next set of accounts!

[SMcD]

Bear in mind that the sale of Gordon and others is to be presented in the next set of accounts!

 

Even so - wait and see.

[WalterEgo]

I was trying to find someone on LinkedIn and accidentally stumbled across this:

 

Hobonomist

 

What a strange thing to want to do for a living.

[Rudolf's Mate]

Even so - wait and see.

 

I agree that they may look bad however they are going to look a lot better than they would have done without the sale of certain players!

[SMcD]

I agree that they may look bad however they are going to look a lot better than they would have done without the sale of certain players!

 

Yet some on here are having a go at Hibs for the same thing?

[Calum Anderson]

Bear in mind that the sale of Gordon and others is to be presented in the next set of accounts!

 

Will accounts definitely be published now that they don't have to? When are the accounts due?

[Calum Anderson]

the next batch of teenagers are rank rotten, so welcome to the downward spiral that is Hibs?

 

 

Who amongst the Hibs youth players have you seen who you think is 'rank rotten'?

[Ray Winstone]

Who amongst the Hibs youth players have you seen who you think is 'rank rotten'?

 

Chisolm, O'Hanlen, The young striker (I cant remember his name played well for the reserves), Mcluskey was a failure.

 

Theres four to start with.

 

Hibs thought that owing to the success of throwing the last bunch of youngsters into the team they could just repeat this process and it would come good.

 

Unfortunately a group like Brown, Thomson, O'Conner, Whittaker, Riordan etc will not happen again like that for a very long time.

[SMcD]

Chisolm, O'Hanlen, The young striker (I cant remember his name played well for the reserves), Mcluskey was a failure.

 

Theres four to start with.

 

Hibs thought that owing to the success of throwing the last bunch of youngsters into the team they could just repeat this process and it would come good.

 

Unfortunately a group like Brown, Thomson, O'Conner, Whittaker, Riordan etc will not happen again like that for a very long time.

 

But they don't need it to happen again.

[Ray Winstone]

But they don't need it to happen again.

 

They clearly do.

 

Those players lead them to some good cup runs and decent finishes in the league.

 

Without that, coupled with the fact that the fees they recieved for those players is contributing to the lack of debt and the profit then I would say they do need it to happen again!

[Calum Anderson]

Chisolm, O'Hanlen, The young striker (I cant remember his name played well for the reserves), Mcluskey was a failure.

 

Theres four to start with.

 

Hibs thought that owing to the success of throwing the last bunch of youngsters into the team they could just repeat this process and it would come good.

 

Unfortunately a group like Brown, Thomson, O'Conner, Whittaker, Riordan etc will not happen again like that for a very long time.

 

Not sure if the striker you mean is Campbell or Gray. Anyway, both of them and Chisholm are in their twenties. The post I quoted referred to teenagers.

 

Hanlon's a teenager. He's far from rank rotten, in fact he can play a bit. Each to their own I suppose.

 

What Hibs haven't done is look to rely on a successful youth crop to sell. What Hibs have done is get close to the maximum benefit from the crop of a few years ago.

 

Incidentally, last season's U19s (who were relatively young for their age level) were probably the best Hibs youth team I've seen. They won't all make it, they never do, but I'm quietly confident for a good few of them.

[topcat]

We're all in the poop, we're just further in than most! Our debt is considerably higher than Hibs, however I have no idea where it is what with Vlad knocking of ?12m and the Gordon/Bednar/Velicka sales and a almost certain loss on wages last season.

 

The disapointing thing for Hibs is they have been trying for a couple of years to achieve break-even and they are currently still spending more (mostly in wages) than they are bringing in.

 

Don't get me wrong I'd rather be in Hibs debt position than ours, but if Vlad decides to wipe ?12m every year we should be sorted by 2010. Just need to get things right on the park then...

 

 

At the moment Hearts and Hibs' are financially safe as Hearts are backed by UBIG and everyone knows that if Hibs faced a serious problem Farmer would be there to bale them out once again. For now at least, if either club loses money it's essentially a problem for the ultimate owners as opposed to us, the supporters.

 

So worries about the future must be based on what could happen if and when events lead to either club being seperated from the relative security of being underwritten by wealthy men who want to own a football club and aren't that bothered if they lose some of their money in the process.

 

In this context the current level of debt is something of a red herring. The level of debt can swing dramatically if a new owner decides to clear a big chunk of an existing debt (As happened at Newcastle) or load it up with more debt to extract some quick return on the initial investment (As happened at Manchester United).

 

What is more important is whether the the stadium is worth more as a stadium than it would be as a site for building development.

 

Lots of other clubs have gone into administration and survived but the difference between the Edinburgh clubs and the likes of Motherwell, Airdrie and Livingstone is that neither Hearts not Hibs play in a godforsake ****hole.

 

Hibs were the first to feel this threat with the proposed move to Meadowbank back in the 80s, HBOS were in the process of forcing through a similarly scheme onto Hearts when Vlad showed up. It is little coincidence that the only other club to feel this kind of heat is Aberdeen who are also the only other Scottish club to be located in a large prosperous City.

 

If the raw land value of the land it's value as a stadium then it's continued hold on the stadium is dependant on whoever is in control voluntarily opting to forgo better returns.

 

Before English Football became mega wealthy Chelsea came under serious threat because there were plenty of other things you could do to make a lot more money with a few acres of land just not far from the Kings Road. Wimbledon weren't so lucky and ended up stripped of Plough Lane and having to wander from groundshare to groundshare before being franchised out to Milton Keynes.

[scotland1978]

They clearly do.

 

Those players lead them to some good cup runs and decent finishes in the league.

 

Without that, coupled with the fact that the fees they recieved for those players is contributing to the lack of debt and the profit then I would say they do need it to happen again!

 

• Hibernian Training Centre was valued at ?5.8m at 31 July 2008 (2007: cost of training centre under construction ?2.1m)

 

 

• Cash balances at 31 July 2008 were ?3.9m (2007: ?5.1 m)

 

• Net debt at 31 July 2008 was ?2.8m (2007: ?2.8m)

 

• The components of Net Debt at 31 July 2008 were: Stadium Mortgages ?6.5m; Parent Company Loan ?0.2m; Finance Leases ?0.03m less Cash Balances ?3.9m (2007: Stadium Mortgages ?6.5m; Parent Company Loan ?1.3m; Bank Loan ?0.05m; Finance Leases ?0.05m less Cash Balances ?5.1m)

 

How anyone can look at that and say that hibs need to sell players I don't know. The training centre cost around 5/6 million. Petrie is using the accounts to make it look like hibs have splashed the cash. Sometime he makes it look different. No problem with that.

 

Hibs have no need to sell players hibs have sold them all!

 

Hibs should not build the new stand at the moment.

 

When hibs sell Benji/Zemmama/Fletcher next summer in all probability we

will have no debt at all. I am sure Petrie will make it look however he wants next year as well.

 

I am a hibs fan btw. Hibs have been very prudent too prudent for my liking.

Although with the signing of Riordan perhaps we are getting the balance a bit better.

[scotland1978]

 

The disapointing thing for Hibs is they have been trying for a couple of years to achieve break-even and they are currently still spending more (mostly in wages) than they are bringing in.

 

Petrie would love an analysis like that. We spent 4.6m on wages.

Petrie himself gets 150k.

 

4.6m on wages on a turnover of 8.1 is not in the poop its nowhere near the poop.

 

Turnover for the year was ?8.1m (2006-07: ?9.8m) a reduction of ?1.7m (-18%)

Staff costs were ?4.6m (2006-07: ?4.1m) an increase of ?0.5m (+13%)

[Calum Anderson]

The disapointing thing for Hibs is they have been trying for a couple of years to achieve break-even ....

 

We've made an operating profit every year for the last three prior to this.

[scotland1978]

We've made an operating profit every year for the last three prior to this.

 

And made a profit this year as well unless you ignore the fact we sold players.

However if you ignore the fact we sold players do you ignore the fact we spent a load of cash bringing players in ?

 

Maka 200k

O'brien 200k

Nish 120k

Rankin 120k

 

Lets Face it Petrie is too smart for the average football fan. Which makes them make all kind of wrong assumptions. I don't like the guy but this is not a bad set of accounts.

 

This is all very off topic for a hearts board. Although I think Hearts/Aberdeen/Hibs accounts make interesting reading as they all have roughly the same amount of fans through the gate(Hearts have 1/2 k more aberdeen 1k less than hibs) Although this goes up and down depending on form. All three clubs are run quite differently at the end of the day whoever finishes higher in the league or does well in the cups will have the happiest fans not whoever has the best set of accounts.

[redm]

I don't know how you can hold the view that Hibs are absolutely insolvent if not paractically insolvent.

 

The accounts show that subtracting the vaue of liabilites like mortgages and loans from assets like the value of the stadium and the training centre Net assets are a positive ?14.7m. I don't know what Hearts current position is and as long as you have the continued backing of your owner you don't have a problem but your last published accounts, if I remember correctly showed a neagative net worth of the business

 

Why would the training centre be mentioned? Hibs don't own that.

 

Even if the stand is built, what price will you pay? Compromises (excuses) are made left, right and centre on your wage structure and your transfer policy as it is.

 

Interesting read....

 

http://www.eufootball.biz/Finance/2008085-Lindsay-Hibernian-player-wage.html

[siegementality]

So they make losses and have debts ....... for sure Hearts need to improve their financial and footballing performance but maybe it's time our Financial-&-Economic-Experts from across the city followed some of their own advice - they clearly aren't selling enough players at a profit and obviously they are paying far too high salaries in relation to their revenues - Petrie admits as much.

 

No wonder Romanov paid off Charlie Mann when he has you.

[CJGJ]

And made a profit this year as well unless you ignore the fact we sold players.

However if you ignore the fact we sold players do you ignore the fact we spent a load of cash bringing players in ?

 

Maka 200k

O'brien 200k

Nish 120k

Rankin 120k

 

Lets Face it Petrie is too smart for the average football fan. Which makes them make all kind of wrong assumptions. I don't like the guy but this is not a bad set of accounts.

 

This is all very off topic for a hearts board. Although I think Hearts/Aberdeen/Hibs accounts make interesting reading as they all have roughly the same amount of fans through the gate(Hearts have 1/2 k more aberdeen 1k less than hibs) Although this goes up and down depending on form. All three clubs are run quite differently at the end of the day whoever finishes higher in the league or does well in the cups will have the happiest fans not whoever has the best set of accounts.

 

 

What a joke -- without transfer fees you made a loss of over #1 million -- you cannot sustain that unless as you did last season sell players to cover the costs.

So you have a choice sell players or cut costs -- you can't have both.

As for that being a good set of accounts well then do not offer to run my company as you are gambling with one off sales to finance your business -- once Fletcher has gone the generation has died.

 

Someone mentioned Hibs under 19's being the best batch in years -- well if thats the case then Hearts are laughing because ours are far better and this will show in the next 2-3 seasons -- it has already started with the breakthrough of approx half the current first team.

 

PS i am aware of our accounts by the way and the same stands for those

[bishyhibby15]

Why would the training centre be mentioned? Hibs don't own that.

 

Even if the stand is built, what price will you pay? Compromises (excuses) are made left, right and centre on your wage structure and your transfer policy as it is.

 

Interesting read....

 

http://www.eufootball.biz/Finance/2008085-Lindsay-Hibernian-player-wage.html

 

Hibs own the training centre and it is valued in the accounts at ?5.8m. Or are you suggesting that their auditors have been deceived and they have included in the Accounts an Asset that doesn't belong to the Club?

 

I have no idea what the new stand may cost, I would estimate around ?7m to ?8m. Hibs ended the year with just over ?3.9m of cash resources and the Directors state they intend to ring fence a significant part of this resource for the new stand.