£7.2m loss

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Zab said:
The Gordon’s really have made a complete and utter mess of running the football club, it’s quite scary just had bad a position they have plunged the club into through their own mis-management.

We’re stuck with them now unless someone is willing to buy them out and find a way to write off the debt in the process.
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totally agree W
 
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Dier - 1558 said:
It’s the American Way, devalue then look to asset strip.
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Sorry this is not how that works. It makes no sense to devalue your own asset, nor to strip it for things that are worth less than what you have spent on it.

The idea that American multi millionaires, and then with investment from billionaires, would expend years of effort to make a few million off dismantling Hibs is internet hokum.
 
Smurf said:
To give greater perspective this is us losing £134,000 every week.

The equivalent of a squad of 20 players all on £6700 per week.
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That’s mind blowing when you put it like that.

I wonder much our players are actually being paid?

I wonder how much is being spent on back room staff? Too much is pretty much a given.

I wonder how much is being spent on things like the woman’s team?
 
hibbybilly said:
Calm Down Chill Out GIF by Kev Lavery
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No funny but :-
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hibbybilly said:
I'm surprised, although I shouldnae really be, they announced this today before an important match. I expect the fans will have something tae say about it and that might distract the players.
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Hopefully block seven will wait till a game at ER
 
The Family said:
Time to start reducing our monthly costs, first up MacKay, Marshall and MacPherson.
Or just sell up and get us debt free and sack them imposters anyway.
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I think Mackay is doing a decent job - the two transfer windows he’s been over were far more composed and sensible than anything previously seen under the Gordon’s. Off all the problems and wastes of money at the club, he’s not one IMO.

No idea what value Marshall adds, or how much he costs us, but it is hard to see the point in his role given the financial backdrop.

Also totally agree on MacPherson - any chairman overseeing such appalling performance financially, plus allowing his CEO to straight up lie at the last AGM*, needs to be gone.

*Ben Kensell said this in Feb 2024 "If I'm sat here talking about this in a year's time, I think you'll see some very healthy numbers coupled with sporting success.

"Despite the tricky period we're in at the moment I know what I can see on our balance sheets and it looks a lot better than what is being reported in the accounts." At least that utter charlatan is gone.
 
This is what happens when speculating doesn't pay off.

Reading through as much as I could today,
We've made plenty money, but sacking managers and paying outrageous wages on shite has crippled us.

No surprise why we couldn't throw money around in the January window, scary that we were going to throw a million plus wages at the boy in the summer now.
That would've taken us over £8m 😵‍💫
 
Zab said:
I think Mackay is doing a decent job - the two transfer windows he’s been over were far more composed and sensible than anything previously seen under the Gordon’s. Off all the problems and wastes of money at the club, he’s not one IMO.

No idea what value Marshall adds, or how much he costs us, but it is hard to see the point in his role given the financial backdrop.

Also totally agree on MacPherson - any chairman overseeing such appalling performance financially, plus allowing his CEO to straight up lie at the last AGM*, needs to be gone.

*Ben Kensell said this in Feb 2024 "If I'm sat here talking about this in a year's time, I think you'll see some very healthy numbers coupled with sporting success.

"Despite the tricky period we're in at the moment I know what I can see on our balance sheets and it looks a lot better than what is being reported in the accounts." At least that utter charlatan is gone.
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With all the money he’s skimmed, he’ll be able to have two sunbeds a day at a top notch salon for the next ten yesrs .
 
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Hammi said:
This is what happens when speculating doesn't pay off.

Reading through as much as I could today,
We've made plenty money, but sacking managers and paying outrageous wages on shite has crippled us.

No surprise why we couldn't throw money around in the January window, scary that we were going to throw a million plus wages at the boy in the summer now.
That would've taken us over £8m 😵‍💫
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These figures are all in the past though, and we could quite possibly be given more ‘jam tomorrow’ stuff at the AGM.
Interesting that we were bidding big recently.
If Kit is stumping up for the losses then fair enough.
Maybe she will think of sacking her son!
 
Doc Shrink said:
These figures are all in the past though, and we could quite possibly be given more ‘jam tomorrow’ stuff at the AGM.
Interesting that we were bidding big recently.
If Kit is stumping up for the losses then fair enough.
Maybe she will think of sacking her son!
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It starts at the top, calamity Kit should have seen it enfolding but she done nowt 🤔
 
Hammi said:
No surprise why we couldn't throw money around in the January window, scary that we were going to throw a million plus wages at the boy in the summer now.
That would've taken us over £8m
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Aye but were we?
 
Purple & Green said:
Who is the finance director these days?

I can’t help but think the club has been deliberately run this way, it’s not a case of a lack of financial control
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Interestingly they've been in place since around this time last year.
Formerly YB! 😄 said:
Agree re Kensall departure

Loss is the result from the operations of the club, whereas the BKG and Gordon money would be a source of paying for the losses; if either of those didn’t cover it the club would be insolvent. So two different things. Hope that makes sense
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Thanks for explaining.
 
Can someone financially literate explain to me what 'losses' actually means. I get it superficially, but does it mean that we are 7.4 poorer than last year, or that we spent that amount more than we earned? What does it actually mean and what are the consequences?
 
Greenmachine said:
£18 million turnover for the year ending June 2024 is one piece of good news.
That's on a different level to anything the club has ever achieved before.
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Turnover means nothing though if it's unsutainable.
21/05/2016 said:
Can someone financially literate explain to me what 'losses' actually means. I get it superficially, but does it mean that we are 7.4 poorer than last year, or that we spent that amount more than we earned? What does it actually mean and what are the consequences?
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I mean, I would understand it as negative net income on the P&L -- ie you've spent more than you've made.

EDIT: and if that's indeed what it means here, I'm horrified.
 
21/05/2016 said:
Can someone financially literate explain to me what 'losses' actually means. I get it superficially, but does it mean that we are 7.4 poorer than last year, or that we spent that amount more than we earned? What does it actually mean and what are the consequences?
Laugh Lol GIF by PG Tips
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aggie said:
Turnover means nothing though if it's unsutainable.

I mean, I would understand it as negative net income on the P&L -- ie you've spent more than you've made.

EDIT: and if that's indeed what it means here, I'm horrified.
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It is.
 
I've had a quick look, would need more time than I have -- but there's a ~£24m overhead, of which about £12.5m is cited as wages and salaries. I'd be interested to understand what the other £12m or so is.
 
Hammi said:
We made the offer at least.. ?

Be giving them a bit too much credit thinking they were making offers, to be rejected just to save face?
They're no that far forward thinking.
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Was nae secret Celtc were after him. Unless the Gordons have already covered the loss? I think they wid have said if they had tbh.
 
aggie said:
I've had a quick look, would need more time than I have -- but there's a ~£24m overhead, of which about £12.5m is cited as wages and salaries. I'd be interested to understand what the other £12m or so is.
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Yup. 3m on stadium work.

So staff plus stadium comes to 15.5. Where in the feck are we spending 8.5 if that's not infrastructure and not wages?
 
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