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Club Finances


El Grew
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10 hours ago, Spiderpig said:

Looking for a rich millionaire or company with money to spare to come in and fund the club, does that imply that the Well society and the fan ownership initiative might not be as successful as the club had hoped. 🤔

 

Shocker ! 

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As fans if we're worried about the future of the club then without a rich benefactor or a conveyor belt of talent we can sell on then it's surely up to us to do something about it.

Times are hard but if we could increase the amount of monthly payments into the Well Society for example that would help or some kind of non preferential share issue.

In saying that the club could also do more in the fundraising dept.

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The well society website is poor, and they hardly make it easy to sign up or increase your membership. The incentives should be a no-brainer. I would increase my donation, but I'd rather see a professional effort to improve things first. 

It also worries me that the current stewards of the club are taking on the job of finding big donors, and we don't seem to have someone in charge of that who knows what they're doing. I work for a large non-profit, and we have teams of folk that  cultivate and engage with donors and work on large donations and bequests and the like. I'm concerned that we might be just sending out letters.

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11 hours ago, fizoxy said:

The well society website is poor, and they hardly make it easy to sign up or increase your membership. The incentives should be a no-brainer. I would increase my donation, but I'd rather see a professional effort to improve things first.

I think thats a fair comment Fizoxy.

Right now the society and hence our club needs us more than ever. I know the Society has its sceptics and thats fair enough. The model has its limitations certainly. However without it the fact is that the club would have gone into administration again a few years ago.  So, it has, and continues to serve an absolutely critical role in the health of our club.

In recent times, communication has undoubtedly improved. But, as you say the website needs a vast improvement. Its a window to the world. Have you communicated your concern and ideas to the Society as they are always looking for feedback? If not you should do so. In view of your comments thats just what I'll be doing. We need to make it easy for fans to sign up and donate. The grouse that I have is that you need to set up a direct debit to make a one off donation and then cancel it. Not everyone wants to do that.

As an aside there will be Society day on 18 February (Hearts game) and there's been a call for volunteers - I hope folk will respond to that appeal for help. I would if I lived closer to Fir Park.  This will include a bucket collection. Its high time we had a high profile Society presence on a matchday, but of course that depends on volunteers coming forward. 

I received an email from the Society yesterday and your post has jolted me into responding to it. I hope others do the same. The more the merrier.   

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13 hours ago, wunderwell said:

For a start I've no idea how much I've put in

https://rewards.foundationofhearts.org/login

They have a reward scheme found here

https://www.foundationofhearts.org/about-the-fans-reward-scheme/

The total pledge (wow) is on the front page

They have people collecting at every game

etc etc

We don’t have anywhere near the support and fanbase that Hearts do though. Not just numbers either,  I would go as far to say that the Hearts support is second to none in Scotland with the way they support and back their club through thick and thin. They united together and saved their club from the ruinous state that Romanov left them in and now they are reaping the rewards. If any club could make fan ownership work, it’s Hearts. I admire them for that and am more than a wee bit jealous of their support.

For us there probably are ways to improve the way the WS functions but sadly we just don’t have the numbers.

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On 1/27/2023 at 2:58 AM, El Grew said:

Found this on Twitter:

“Jim McMahon and Alan Burrows went on to advise and discuss that this year's £1m loss would be higher next year barring a long Cup run or player sale and that we are at a crossroads as regards plugging this size of shortfall in the coming years. The plan to resolve this is by going to a wider audience to promote our club values ethics and ideology in the hope of attracting a company or individual either local or worldwide who buys into our ethos and would be willing to inject regular cash to cover shortfalls”

Mmm!

Unsustainable 

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On 1/27/2023 at 1:46 PM, fizoxy said:

Non of this is a surprise and, while not ideal,  it's nowhere near as perilous as some are making out.

We're a selling club, so you have to imagine that player sales will make up for the shortfall most seasons, as well as a half decent run in the cups. What does a normal home game earn us? How much of a "cup run" moves the needle financially?

As for the ground. If we've taken our maintenance costs from 120k per season down to 20k ish, then it was totally the right decision. We can also hold home friendlies and internationals again now that the pitch is more reliable.

I'd rather be in our position where we don't need to pray that Mr Moneybags doesn't change his mind or get bored. Mind John Boyle? 

Hopefully we actually get our finger out with the work to secure other income sources though. 

Apparently Norwegian side want Johnson , price is £200,000 /£300,000 they must be mad.

 

Bite their hand off

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14 minutes ago, fizoxy said:

I have an armchair I'm not using. 

All joking aside, the squad is paper thin just now, no cover available, that's why Johansen has been playing. So yes we may get a few quid for him but letting him go with no replacement lined up is not good business. That said if the financial issues are as bad as has been suggested the board will take the cash.

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