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+----- Thread: Rod upbeat in spite of £840k losses for season 2014/15 (/showthread.php?tid=3426)
Rod upbeat in spite of £840k losses for season 2014/15 - 0762 - 30-11-2015
http://www.edinburghnews.scotsman.com/sport/football/hibs/rod-petrie-hibs-in-good-health-despite-800k-loss-1-3961858
This disappointing announcement, albeit unsurprising if we're trying to sustain a Premiership football operation in a Championship League, precedes Hibs upcoming AGM and I'm sure many Hibs shareholders will be asking what the club intends to do in order to move into the black again. Do we sell players? I hope not but it's a pertinent question to ask! Also the announcement that Hibs supporters own 20% of the club is a tad disappointing but it was expected in view of our stuttering progress in the past 18 months on the pitch. Those additional shareholders still contributed £540k in subscriptions! Does the club now make a move to invite possible interested parties like the Murray family to buy up a major share of the club? Or does the club attempt to sell more shares? Again these are pertinent questions to ask in a quest to keep moving forward positively and strengthen the club even farther. IMO one main target is to win through to the League Cup final, the objective definitely being to generate much-needed revenue from another lucrative cup final appearance! And the financial news is not all negative as shareholders become aware that the BOS securities over ER Stadium and the EM Training Centre were fully discharged prior to 31 July 2015. The club now banks with Santander , which holds no security link to these properties other than a float for turnstile ops. Also the relative BOS debt of £6.3M was cleared by 31 July 2015 and this was part of a refinancing package whereby a £5M mortgage was fully drawn up from the parent company - interest free and repayable in the next ten years. No doubt STF would have been heavily involved in moving towards this new financial arrangement.
RE: Rod upbeat in spite of £840k losses for season 2014/15 - hibeejim21 - 30-11-2015
Those figures show the realities of being in the championship.We need to go up badly this season....But those figures could have been a lot worse. No need to sell in january.
Note also our fixed assets are worth 25 million (the stadium and east mains)
RE: Rod upbeat in spite of £840k losses for season 2014/15 - Paigntonhibby - 30-11-2015
No' as bad as it could've been.
RE: Rod upbeat in spite of £840k losses for season 2014/15 - 0762 - 30-11-2015
Yep! Absolutely right! Imagine someone coming along and buying your mortgage (if you have one) and then generously allowing you to gradually repay the loan without any interest attached to the deal whatsoever - that is a good business arrangement/plan that can be strictly managed until it's conclusion when all our modernisation commitments on the property are financially done n dusted and hopefully, well before then, Hibs fans will be returning to their modernised ER Stadium in their droves.
RE: Rod upbeat in spite of £840k losses for season 2014/15 - ritchiebaby - 30-11-2015
Good point raised by jim - no need to sell in January. Hopefully the board will agree, as we definitely need to go up this season.