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Pat Nevin: Late wages is the clearest sign in any company that something is radically wrong



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Published Date: 28 September 2008
YOU CANNOT escape the financial fears that have swept the planet over the past few weeks. It is complicated stuff at the high end but there is no doubt that on a day-to-day basis it is uncertainty and lack of confidence causing the massive lurches that is costing billions of pounds in the panicked institutions of the city and Wall Street.
Maybe it should be no surprise then that football clubs also behave in a volatile manner when surrounded by uncertainty. If you thought there was mayhem in banking have a look at St James's Park, Newcastle, now that the upper echelons of the club are
in turmoil. Players are playing like relegation certainties now that the manager has gone, fans are revolting and the owner openly wants to sell up.

For many years football folk have known that the players require certainty and that is part of the reason why they have become so mollycoddled at the top level. I remember being shocked at my first full-time club when they wanted to 'take care' of my passport for me. I was offended because they obviously thought I couldn't be trusted to bring it in when required for little things such as a foreign trip.

In reality that was partly true, they didn't trust the players generally, but it was more about giving them one less thing to worry about. The management wanted the players focused on the job, with nothing distracting them so that they would be in just the right frame of mind come match day. One manager once told me he could tell which of his players had problems at home that week just by the way they tackled in a game and I have no doubt he was right. A player with a lost focus can lose you a game hence the lengths clubs will go to keep them sweet.

At Chelsea the players were canvassed on the layout of the new dressing room and, believe me, every excessive demand was accommodated down to the individual wardrobes for their designer suits and the specific type of liquid soap – to be renewed each week – used in the new individualised high-power showers.

Some have taken it for granted to what I consider is an offensive level. At my time with Motherwell, the chairman paid for the team to have a mid-season break in the sun out of his own pocket. We went to a quality training camp in Portugal, stayed in a plush hotel and basically were provided with everything we wanted.

On arriving however there were grumblings from the camp, I thought I would be open and suggested that anyone who had any problem with the wonderful facilities, the well-organised travel schedule or whatever else could come and see me personally. I was amazed that only six of the group did not make their way to my door with a list of complaints.

When the privileges were withdrawn as the purse strings tightened, the team spirit faltered. This was nothing, however, compared to the effect that fear had on the team.

Maybe in those more naïve days most players didn't believe top-level Scottish clubs could go bust or even in to administration as happened at Motherwell, but even so there was unease. As the cutbacks began to bite and uncertainty grew more time and effort was spent by some in trying to get out quickly than trying to do their best for the team and to a degree I fully understood that.

The moment when mild concern became barely concealed panic was when the wages arrived late. It really is the clearest sign in any company that something could be radically wrong in the background.

They were of course right to be worried at Motherwell and at Tynecastle there will be no shortage of uncertainty. The first time that the payments are delayed most workers will attempt to give the benefit of the doubt the their employers, but if and when it happens again, few will be deluding themselves.

For Ukio Bankas, the intricacies of a banking system that has itself been in crisis is an acceptable cause of cash flow problems, but even if there is no immediate danger for the club the fear will have a negative effect.

All the time put in to making players feel secure, the efforts ensuring they are focused on their performances and worrying about nothing else will evaporate very quickly if the wages are late again any time soon. This in turn will almost certainly have a negative effect on the team's position in the league.

What Hearts have needed more than anything else over the last couple of years has been to get off those rocky uncharted roads they seemed to have favoured. With the creation of the latest uncertain conditions, no one really knows if there is high-speed crash around the next corner waiting to wipe them out.





The full article contains 846 words and appears in Scotland On Sunday newspaper.
Page 1 of 1

 
1

Fred in sunny Sydney,

sydney 28/09/2008 01:15:52
tic toc
2

tommytommy,

28/09/2008 09:00:05
It looks like Pat reads these boards because he has plagiarized the ideas I have posted on here for many months.

Hearts can not undo last weeks crisis .

There is undoubtedly a financial timebomb ticking away at Tynecastle.
3

Glorious Hearts,

28/09/2008 10:57:34
TimTimmy if you guys put as much energy into making a successful live as you do wishing for the worst for Hearts you would be millionaires in no time.

I know you all desperately want it to be true and fevereishly dream of Hearts hitting the rails and I know that each day it doesn't happen drives you madder but come on, this is getting pathetic.
You're such a big player that Pat Nevin follows your posts and forms his opinions based on your ramblings?

TimTimmy, there has been a financial timebomb for how many years now?
When were we going into administration?

He talks and talks but it is utter nonsense

"He talks and talks but it is utter nonsense"
4

Talk o' the Toun,

28/09/2008 12:37:12
#2 TT...back peddling like a trick cyclist. Where does Postman Pat mention asset stripping ie your 'IDEAS'.

HEARTS financial position is as posted by me & other posters with joined up brain cells ie directly related to the strengh of UBIG.
5

tommytommy,

28/09/2008 12:39:57
3

It must have been bad yesterday to make you that bitter.

Im not making it up.Read the papers.
Ask the players.Ask the admin staff.

Look at the accounts.

Explain the debt without assets to place against it.

Where has all the money gone?

Explain the transfers with blatant conflict of interests.

Im not making this up 3 and neither is Nevin.

(Its life by the way not "live")
6

Talk o' the Toun,

28/09/2008 12:59:11
#5 you are making it up....when Hearts issue their accounts it will show a n almost identical(if not slightly better) debt to asset ratio.

Then i accept you to issue an apology.

##BTW 'ask the players/ask the admin staff' Why?
Nevin is not making it up....what ; read his last para and corelate with your ramblimgs in particular 'NO ONE REALLY KNOWS'

QQ TT 's dissapearance.
7

Talk o' the Toun,

28/09/2008 13:00:51
expect not accept.....should have left uncorrected you would noy have been able to help yourself.
#will leave the other less obvious spellin mistakes.
8

tommytommy,

28/09/2008 13:10:02
ToT

Take a break mate.

Have a cup of tea and a scone.

If you believe in fairies then Ill back you up.

9

Talk o' the Toun,

28/09/2008 13:18:23
#8 A HIT...you responded(well to a fashion!)....had the tea .The scone is for half time.

But thanks anyway for clearing up your asset stripping allegations. A lot clearer now!!!

## a wee clue...HEARTS have only one meaningfull TANGIBLE asset.... if it has dissapeared from Hearts accounts your right .If not your wrong....let us wait & see as my responses are becoming as boring as your ramblings.
10

tommytommy,

28/09/2008 14:48:16
TOT

What have Hearts purchased for a debt of £36 million?

They ought to be in surplus given the transfer fees they have received.

Yet they are in debt.

Where has the money gone.?

Keep it simple.Keep calm.

What has the debt purchased?
11

Roscoe P Coltrane,

28/09/2008 14:50:03
Tommy you dribbling mess, how about just once, just one measly time, you back up your ramblings with some kind of prooof or even of what life experience you have that allows you these incredible insights that nobody else appears to have?

You've been challenged countless times to back up your potentially libellous claims about VR and company, but you've never once done so.

Less credibility than George Wideboy Bush.
12

Talk o' the Toun,

28/09/2008 15:33:11
TT: your questions are not relavant to your accusations. The relavant questions are;
1. What is the increase in debt since VR came in?
2.What have HEARTS bought with same?

As you clearly have not got a clue re 1. not a chance of you answering 2.

If as i suspect (will only know when accounts issued)the answer to 1. will be minimal(might even be negative)then no answer to 2. required.Therefore despite substantial trading losses due to incompetent investment in the playing squad VR regime have underwritten same to keep Hearts in much the same financial position that they were when he camein.

Now dissapear as you will never get back the time you have wasted posting garbage on the subject.
13

tommytommy,

28/09/2008 16:39:15
TOT

The question was

What have Hearts bought with the debt?

Where has the money gone?

Just give a reply.

No need for an abusive rant.
Keep calm.

Take a deep breath and give a response.

You can do it TOT
14

tommytommy,

28/09/2008 16:49:17
Roscoe

The proof is in the pudding.

The past weeks events are proof all is not well.

The clubs accounts state a debt of £37 million without assets to put against the debt.

The clubs Representatives shouted down questions asking for an explanation of the debt.

And the Bednar deal.?
Well yes The Bednar deal indeed.

I could go on and on with the proof but its Sunday dinner time now Roscoe.

Something that Hearts staff nearly missed.
15

Talk o' the Toun,

28/09/2008 17:15:04
TT progess at last...... HEARTS debt.
5 months to progress to 1st base.

Now you want me to give you a breakdown of same? If all the same to you i ill pass...would be like trying to explain how electricity works to a five year old.

Will leave ROSCOE to explain that HEARTS do indeed have substantia\l assets & the debt is not £36m.

Just for the record you have now p!ssed me off enough that i will be letting Izzy know what you have been doing in your spare time.(who knows what else she will find on your computer)



16

tommytommy,

28/09/2008 17:31:02
TOT

Where has all the money gone?

Deep breath.
17

Talk o' the Toun,

28/09/2008 17:43:13
Izzy: as soon as i raised the bar above the bottom rung you were beat.
Never met a women yet who admits she is wrong so not in the least bit suprised you are not humble enough to acknowledge same.

My task of getting you to admit current debts run up pre VR is now complete.

Who do you think will finish 3rd in SPL?
18

tommytommy,

28/09/2008 17:46:13
"Late wages is the clearest sign in any company that something is radically wrong" Pat

Where has all the money gone TOT?
19

tommytommy,

28/09/2008 17:47:30
Where is the money that is debt in Hearts name?
20

Talk o' the Toun,

28/09/2008 17:50:03
izzy...you are clearly rattled....a womens scorn & all that...calm down there are people starving in the world ...this is not a life or death matter.
21

Jambo-ree,

28/09/2008 17:53:21
#19 We all know the money goes to UBIG who then reimburse with the funds for the running costs, including wages. I'm still treating last week as a genuine glitch and soo will continue to do so unless it happens a second time.

This all part and parcel of what being part of larger consortium is all about.
22

tommytommy,

28/09/2008 18:04:20
But what did the £37 million debt purchase?

Its a straightforward question deserving a reply.

Hearts should be in surplus if the missing transfer money surfaces not in debt.
23

Bigwull,

edinburgh 29/09/2008 08:07:27
Remember Pat Nevin is a hobo, they are all financial experts dont you know
24

tommytommy,

29/09/2008 08:26:55
Its a simple point that I am making Wull.

Hearts are £37 million in debt yet their wage bill for the last three years is less than that.

They have had three years income too.

Yet here we are with a debt of £37 million.

What has it been spent on?

If we take the transfer fees into account Hearts should be in profit to the tune of £12 million.

Why are Hearts fans not answering these points Wull?
25

LyonHearts,

le teil 29/09/2008 16:13:46
Good wee winger in his day, but would you take financial advice from him? NO!

So Pat, stop stirring up the pot and talk about what you know! Ok, there is definately something wrong at Tynecastle, but I don't think every journalist and supporter of other clubs should dive on every no-story that appears in the Scrotsman!

MON THE HEARTS
26

LyonHearts,

le teil 29/09/2008 16:16:09
#25 Hibs fans should rally round do something to cheer up the jabos.

Beating them in the next derby match in two weeks would certainly cheer up most Jambos I'm sure!

MON THE JT's
27

david watts,

26/10/2008 08:29:26
#24.
the sale of craig gordon will come under next years accounts but VR has wiped 12 million off of hearts debt in the last year as announced at the last AGM. Hearts also cited the fact that HBOS was at serious risk of going under the week the Hearts staff didnt get paid and could not gaurentee Hearts 200 grand would be safe if they did go under so Hearts,as anyone with half a brain would took the decision to switch banks to ensure their money was safe. Its all straight forward to anyone with their own business and difficult for people who rely on a dole cheque.

 

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