Hearts chairperson Ann Budge has released a scathing statement amid financial proposals the club has made during the domestic league shutdown.
Rangers, Hearts and every club in Scotland is set to be adversely affected by a lack of income over the next few months but Hearts moved quickly to stem any losses.
Asking staff to take a 50% wage cut and trying to be active instead of reactive, Budge believes this has been unfairly interpreted by certain members of the press.
On top of that, Budge also believes that “abnormal operations” could potentially stretch on for six months with the Tynecastle club only holding 2-3 months cash reserves.
Speaking in a defiant statement aimed at easing the worries of the club’s supporters, Budge offers much transparency to the goings on in Gorgie.
“Firstly, let me reassure all Hearts’ supporters that our financial position is no worse (nor better) than almost every other senior football club in Scotland, despite the recent continuous supply of mis-information and malicious speculation,” said Budge [Hearts].
“In line with most other Clubs, we aim to hold sufficient cash reserves to cover 2-3 months of normal trading operations.
“The reason we are implementing cost control measures is because we could be facing up to 6 months of totally abnormal operations.
“Given that we all know we have to plan for that eventuality, I see absolutely no reason for sitting back and waiting either on a miracle or for the Government to bail out every company in the country… in a timely enough manner.
“Nor do I make any apology for being open and transparent with staff, players and supporters about the potential scale of the issue.
“Faced with this unprecedented set of circumstances, it is incumbent upon all employers to be totally upfront and open with their staff. They, too, have to be able to plan.”
The latest reports coming out of Hearts suggest that certain players are set to knockback a wage cut proposal in favour of salary deference [Scottish Sun].
The Jambos aren’t the only club to come out and comment on the ongoing financial predicament this abrupt postponement of the football season will bring.
Rangers or Celtic have yet to make any statement on how the financial situation across sport will directly affect them and what, if any, measures they are taking to prevent catastrophe.