lets forget about it

[ROSSCO1875]

tbh i am sick to death of this season and can't wait for it to end next week. Fair enough we won the CIS cup but that is only a consolation for me. Yes it was great as a 15 year old for me to finally see my team lift a trophy at hampden but since that day it has all gone doon the pan. Even before the league cup final i had given up on "Hibernian Goalkeeping," as it is a total shambles. Any chance of Andy McNeil giving us a glimour of hope of a goalkeeper that dosen't make stupid mistakes was scrapped in the derby. The defending today was awful in the first half and to concede so cheaply inside a minute made me wish i had stayed at home. It was a better second half but once again we fail to find the net. To not beat Hearts in the league this season is a disaster because we all know how bad they are.

Anyway, moving on i think JC given the chance will turn it around next season and for me anyone that dosent want to pull on the green jersey next season can get to fuk! Next season i want to see players giving everything for the cause and that cause being Hibernian FC. I am sure JC will bring in a few players that can do a job for us despite Petrie no putting any funds into the transfer budget. Next season will be the year that Collins will prove himself to the easter road faithfull and i am confident that he will.

[secallen]

Originally Posted by ROSSCO1875

tbh i am sick to death of this season and can't wait for it to end next week. Fair enough we won the CIS cup but that is only a consolation for me. Yes it was great as a 15 year old for me to finally see my team lift a trophy at hampden but since that day it has all gone doon the pan. Even before the league cup final i had given up on "Hibernian Goalkeeping," as it is a total shambles. Any chance of Andy McNeil giving us a glimour of hope of a goalkeeper that dosen't make stupid mistakes was scrapped in the derby. The defending today was awful in the first half and to concede so cheaply inside a minute made me wish i had stayed at home. It was a better second half but once again we fail to find the net. To not beat Hearts in the league this season is a disaster because we all know how bad they are.

Anyway, moving on i think JC given the chance will turn it around next season and for me anyone that dosent want to pull on the green jersey next season can get to fuk! Next season i want to see players giving everything for the cause and that cause being Hibernian FC. I am sure JC will bring in a few players that can do a job for us despite Petrie no putting any funds into the transfer budget. Next season will be the year that Collins will prove himself to the easter road faithfull and i am confident that he will.

We have to think positive too mate. With unconditional support we can make the most of what we have.

[HibeeJibee]

I agree with most of this. We are halfway down the track, we can't afford to turn back. Enough damage has been done. Clear out the metaphorical deadwood and the troublemakers, sell those valuable players for whom we can command high prices (Brown, Murphy, Whittaker). Start again, with a mixture of youth and experience. Once the debt is clear and East Stand rebuilt, we will be able - forevermore - to spend what we earn on players. It would be foolish to spoil two decades of prudence now. This season was full of promise - lets act on it in the years to come.

[eckmf]

Originally Posted by HibeeJibee

I agree with most of this. We are halfway down the track, we can't afford to turn back. Enough damage has been done. Clear out the metaphorical deadwood and the troublemakers, sell those valuable players for whom we can command high prices (Brown, Murphy, Whittaker). Start again, with a mixture of youth and experience. Once the debt is clear and East Stand rebuilt, we will be able - forevermore - to spend what we earn on players. It would be foolish to spoil two decades of prudence now. This season was full of promise - lets act on it in the years to come.

we have been debt free now for sometime

[Dub]

Originally Posted by eckmf

we have been debt free now for sometime

Is that entirely true? We have a mortgage [or two maybe] on the stadium and whilst that mught not count as debt per se its still debt. Not sure how much but I bet Slov or gunner or someone like that will have the figures at his fingertips.

[HibeeJibee]

This from the Release to the Press, from the October 2006 (most recent) Hibs AGM:
- Net debt at 31 July 2006 was £6.8m (2005: £9.3m). The reduction in net debt during the year was £2.5m. The reduction was mainly due to a combination of the operating profit for the year and the money received from player sales and tickets.
- There are two stadium mortgages which amount in total to £6.5m (2004: £6.5m). The terms for the £2.5m stadium mortgage were changed such that it is now ‘interest only’ with a single repayment due in 2020. This improves the Club’s cash flow in the intervening period, and means bettering operational efficiencies.
So unfortunately we are hardly debt free, but getting there reasonably fast

[Dub]

Originally Posted by HibeeJibee

This from the Release to the Press, from the October 2006 (most recent) Hibs AGM:
- Net debt at 31 July 2006 was £6.8m (2005: £9.3m). The reduction in net debt during the year was £2.5m. The reduction was mainly due to a combination of the operating profit for the year and the money received from player sales and tickets.
- There are two stadium mortgages which amount in total to £6.5m (2004: £6.5m). The terms for the £2.5m stadium mortgage were changed such that it is now ‘interest only’ with a single repayment due in 2020. This improves the Club’s cash flow in the intervening period, and means bettering operational efficiencies.
So unfortunately we are hardly debt free, but getting there reasonably fast

Forgive my ignorance but is the debt 6.8m including or excluding the stadium mortgages. I am assuming its excluding making the picture slightly less rosy than some may think.

[HibeeJibee]

Debt is the real red in the bank, soft loans, liabilities awaiting payment. However, this was reduced by £2.5M in one year through income and players, so not really huge.
- Hibs have £6.8M debt in the bank to be paid off.
- Hibs also have £4M in a mortgage to be paid, interest and portions, annually till ?
- Hibs also have £2.5M in a mortage to be paid interest only till 2020, and the £2.5M in 2020
Thus in total, we have £13.3M plus interest on £6.5M of that to be paid off over the next decade and a half or so. Which equates to about £1M a year, roughly.

[1875steve]

Originally Posted by HibeeJibee

Debt is the real red in the bank, soft loans, liabilities awaiting payment. However, this was reduced by £2.5M in one year through income and players, so not really huge.
- Hibs have £6.8M debt in the bank to be paid off.
- Hibs also have £4M in a mortgage to be paid, interest and portions, annually till ?
- Hibs also have £2.5M in a mortage to be paid interest only till 2020, and the £2.5M in 2020
Thus in total, we have £13.3M plus interest on £6.5M of that to be paid off over the next decade and a half or so. Which equates to about £1M a year, roughly.

£13.3m?????

Net debt is :£6.9m

[eckmf]

Originally Posted by 1875steve

£13.3m?????

Net debt is :£6.9m

Thats what I thought, after speaking to people in the know from this site, I was led to beleive the only debt now was the mortguage

[1875steve]

Originally Posted by eckmf

Thats what I thought, after speaking to people in the know from this site, I was led to beleive the only debt now was the mortguage

It is as far as im concerened.

We have a signle mortgage payment to make in 2020 of £2.5m i think and the other £4m is to be paid like a normal mortgage as far as i can make out.

The other £400,000 is a debt owed to the bank that's not part of the mortgage.

That's why it'd listed as a "net debt"

[HibeeJibee]

Ah OK my apologies. TBF, it means the situation looks much better than I thought!!