Joe Terrapin Posted March 19, 2020 Share Posted March 19, 2020 Whilst it's fairly entertaining that Hearts appear to be on the brink already it is of little consolation as we are all going to 'run' out of money at some point. When we all do it will be of little comfort who got there first. 2 Quote Link to comment Share on other sites More sharing options...
LIVIFOREVER Posted March 19, 2020 Share Posted March 19, 2020 Using Covid-19 to reduce wages ahead of being relegated to the Championship is pretty cold and calculating, she should be in Government. 1 Quote Link to comment Share on other sites More sharing options...
Dons_1988 Posted March 19, 2020 Share Posted March 19, 2020 Random guy applying the economics of a mother giving weekly pocket money to an 8 year old. 6 Quote Link to comment Share on other sites More sharing options...
aDONisSheep Posted March 19, 2020 Share Posted March 19, 2020 (edited) Much though, I'd laugh my tits off at Hearts being relegated. As others have said this is just the tip of the ice-berg. All sorts of shyt are about to hit the fan at many, many clubs (I expect Aberdeen to be doing something similar as we speak). This season is a bogey and re-scheduling is a nice idea but when and with who (many players contracts run until the summer, who in their current climate is going to open negotiations for re-signing Carlos Kickaball, when there is no plan for when they might even play. Best of luck to all clubs out there* Yours aDONis *includes those utter knvts Hearts, but not Whore & NewBun FCs, they can get fvvked! Edited March 19, 2020 by aDONisSheep 0 Quote Link to comment Share on other sites More sharing options...
Wilbur Posted March 19, 2020 Share Posted March 19, 2020 Back in 2008 when Gretna were relegated they were given an extra penalty of -10 points for entering administration before the season was concluded. So maybe Auld Mother Budge is being dead fly here - cut Hearts outgoings to the bare minimum until May to avoid administration and maybe some other lot in the league will beat Hearts to administration and, as there is already a principle, get relegated by the -10 point penalty. Cunning auld trout !!! 1 Quote Link to comment Share on other sites More sharing options...
YassinMoutaouakil Posted March 19, 2020 Share Posted March 19, 2020 Surprised Hearts are chucking it before they're able to list Covid19 alongside the First World War in their Honours. 3 Quote Link to comment Share on other sites More sharing options...
Alan Stubbs Posted March 19, 2020 Share Posted March 19, 2020 Everyone is right that Hearts will be far from the last team to take these kind of measures. Folk kissing Budge’s arse for doing it first though? Ooft. Scottish football isn’t that different from the economy as a whole; there will be all kinds of companies sacking staff and some deserve more sympathy than others. I’ll be very disappointed in our Board if non-football staff have to take the hit at Hibs. The loss of 500k revenue from four mostly bottom 6 league games sounds like absolute shite as well. 2 Quote Link to comment Share on other sites More sharing options...
coprolite Posted March 19, 2020 Share Posted March 19, 2020 6 hours ago, Merkland Red said: I don't know where to even begin with this line of thinking. The biggest companies in the world likely don't operate on that basis. Why should football clubs? A CFO who had enough idle cash to fund a year's expenditure would get sacked for having a stupidly inefficient balance sheet. Even businesses that need cash for regulatory reasons might need to cover 2-3 months tops. I'd expect a club that's budgeted for the top 6, but is bottom and has paid off managers and senior players to be running out of cash soon if not already. Usually there's a credit line backed by imminent season ticket sales available. They can't sell season tickets for an unknowable arrangement. We are all in this boat to some extent. 1 Quote Link to comment Share on other sites More sharing options...
Falcor Roar Posted March 19, 2020 Share Posted March 19, 2020 7 hours ago, Dons_1988 said: Random guy applying the economics of a mother giving weekly pocket money to an 8 year old. So in summary * Fans are to blame here * Club should have factored in possibility of global pandemic to make it to end of season * Club should have budgeted for relegation despite having 3rd/4th highest turnover "bad model" * All clubs should keep huge reserve of funds in the bank instead of investing money in infrastructure 0 Quote Link to comment Share on other sites More sharing options...
coprolite Posted March 19, 2020 Share Posted March 19, 2020 7 minutes ago, Falcor Roar said: So in summary * Fans are to blame here * Club should have factored in possibility of global pandemic to make it to end of season * Club should have budgeted for relegation despite having 3rd/4th highest turnover "bad model" * All clubs should keep huge reserve of funds in the bank instead of investing money in infrastructure You missed *should have given Celtic 3 stands 6 Quote Link to comment Share on other sites More sharing options...
pandarilla Posted March 19, 2020 Share Posted March 19, 2020 Out of interest, do you personally have six months money behind you if you had no income coming in but still had to continue living the way you do? Or would you cut your cloth accordingly? Totally separate issue, i know, but western society has completely fucked itself by encouraging people to live beyond their means for the last 30-40 years.Consumer capitalism relies on it but other societies save more and have less individual debt than us. Historically I'm guessing it's out of kilter too - we've all been conned into the world of having everything on tick - when actually being prepared with decent savings and living within your means should be encouraged. 4 Quote Link to comment Share on other sites More sharing options...
Dons_1988 Posted March 19, 2020 Share Posted March 19, 2020 12 minutes ago, Falcor Roar said: So in summary * Fans are to blame here * Club should have factored in possibility of global pandemic to make it to end of season * Club should have budgeted for relegation despite having 3rd/4th highest turnover "bad model" * All clubs should keep huge reserve of funds in the bank instead of investing money in infrastructure You're forgetting that your cash balance in July must, MUST, be above your committed salaries for the year. 1 Quote Link to comment Share on other sites More sharing options...
coprolite Posted March 19, 2020 Share Posted March 19, 2020 4 minutes ago, pandarilla said: Totally separate issue, i know, but western society has completely fucked itself by encouraging people to live beyond their means for the last 30-40 years. Consumer capitalism relies on it but other societies save more and have less individual debt than us. Historically I'm guessing it's out of kilter too - we've all been conned into the world of having everything on tick - when actually being prepared with decent savings and living within your means should be encouraged. Savings are lendings. If we (west) go tits up and default, china has no savings. 1 Quote Link to comment Share on other sites More sharing options...
Falcor Roar Posted March 19, 2020 Share Posted March 19, 2020 2 minutes ago, Dons_1988 said: You're forgetting that your cash balance in July must, MUST, be above your committed salaries for the year. I made sure that I had £1 more than the total value of my mortgage. It's just economics. Most people don't understand it. 1 Quote Link to comment Share on other sites More sharing options...
akuram Posted March 19, 2020 Share Posted March 19, 2020 7 hours ago, Dons_1988 said: Random guy applying the economics of a mother giving weekly pocket money to an 8 year old. Its a pity more clubs and indeed people don't follow the " McAber? " theory in which if you earn a £1, if you spend 95p you are fine but if you spend £1.05 the you are in trouble. 0 Quote Link to comment Share on other sites More sharing options...
Jacksgranda Posted March 19, 2020 Share Posted March 19, 2020 1 hour ago, coprolite said: A CFO who had enough idle cash to fund a year's expenditure would get sacked for having a stupidly inefficient balance sheet. Even businesses that need cash for regulatory reasons might need to cover 2-3 months tops. I'd expect a club that's budgeted for the top 6, but is bottom and has paid off managers and senior players to be running out of cash soon if not already. Usually there's a credit line backed by imminent season ticket sales available. They can't sell season tickets for an unknowable arrangement. We are all in this boat to some extent. Said boat 2 Quote Link to comment Share on other sites More sharing options...
topcat(The most tip top) Posted March 19, 2020 Share Posted March 19, 2020 Further developments https://www.edinburghnews.scotsman.com/sport/football/hearts/hearts-players-seek-legal-advice-over-contract-clause-stating-wages-can-be-suspended-2502446 The interesting bit is that All contracts in Scotland are ratified by the game’s authorities and include the following clause: “In the event of the Scottish FA deciding that the game shall be suspended, either entirely or in any district or district as provided for in the articles of association of the Scottish FA, this agreement shall be correspondingly suspended, unless the club is exempted from such suspension or the club otherwise determines.” Which means that this is basically a test case for the rest of the league 0 Quote Link to comment Share on other sites More sharing options...
Fife Saint Posted March 19, 2020 Share Posted March 19, 2020 Maybe $t John$tone will bail them out again lol. 0 Quote Link to comment Share on other sites More sharing options...
ATLIS Posted March 19, 2020 Share Posted March 19, 2020 34 minutes ago, topcat(The most tip top) said: Further developments https://www.edinburghnews.scotsman.com/sport/football/hearts/hearts-players-seek-legal-advice-over-contract-clause-stating-wages-can-be-suspended-2502446 The interesting bit is that All contracts in Scotland are ratified by the game’s authorities and include the following clause: “In the event of the Scottish FA deciding that the game shall be suspended, either entirely or in any district or district as provided for in the articles of association of the Scottish FA, this agreement shall be correspondingly suspended, unless the club is exempted from such suspension or the club otherwise determines.” Which means that this is basically a test case for the rest of the league Suspended or abandoned? Could it be that clubs losing players in the summer can be guaranteed them until the season is 'over' under this agreement? 0 Quote Link to comment Share on other sites More sharing options...
coprolite Posted March 19, 2020 Share Posted March 19, 2020 49 minutes ago, Jacksgranda said: Said boat Nooooo! Not celine dion! 0 Quote Link to comment Share on other sites More sharing options...
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