The Adidas deal, Hearts first to move


It is a bit early to call Ann Budge’s early move to cut all Hearts’ staff wages by 50%.  The accompanying offer of termination, which could be accepted by many in the first team squad, indicates what Hearts anticipate the value of footballer contracts will settle at when the crisis is over.

The economic basis that current football contracts were established on no longer applies.  Footballers are worth less money today and going forward than they were a month ago.  Clubs have less money, fans have less money to spend and advertisers have less money to give to TV companies.  Practically every non-discretionary asset class in the world is worth less than before.

I suspect Ann Budge knows this.  She also knows that whether Hearts are relegated or not, they will be better off investing what money they have in the football player market of the future, than keeping what they have.

We have not had a chance to discuss the Adidas deal in any detail yet.  Getting it over the line before the crisis added at least £10m to the value.  If there is a general retail shutdown over the summer, the Adidas contract could be worth £20m less than we got for it.  The importance of this deal grows in tandem with the crisis – and it was stunning to begin with.  Thankfully we have professionals running our commercials.

We’ll talk soon about the consequences and, just as importantly, opportunities in the game going forward.  Celtic are in a good place.

Click Here for Comments >

About Author

  1. Pages:
  2. 1
  3. 2
  4. 3
  5. 4
  6. 5
  7. 6
  8. 7

  1. ** MAN OF THE MATCH for THAT game **


    Inspired by something I read from the nightshift earlier in the week (might have been ‘GG but apologies if I’m mistaken) I’m wondering if there might be an appetite – should ‘lockdown kick in’ to run a one-off special Man Of The Match competition for the greatest game in our history. I’m confident that almost everyone on here will have access to a replay of the whole game from 25 May 1967, more so than any other ‘famous’ game that we might select.




    My very rough idea would be to set aside a 7 day period and invite everyone to find a couple of hours to rewatch the full game. But this is where the real challenge would be – forget the usual idea of just picking the 3 best. Instead, how would everyone feel about selecting their top 7 players AND listing the top 7 in order? Or maybe 7’s too high and we could go for 5?


    I genuinely feel that none of us could confidently predict, in advance, who the MOTM would be, with 11 truly world class stars all playing at the top of their game.


    And depending how long the current football embargo lasts we could perhaps follow this up with any other famous games, so long as there is good, widespread access to the 90 minutes.


    As I say, just something to think about just now and I’m open to any constructive ideas on the voting or anything else – either on here or email me at CQNPOTY@GMAIL.COM , MInd you, the key to getting a high number of folk interested is trying to keep it simple. But personally, even though I’ve watched the full game half a dozen times I think I might surprise myself if the next time I watch it I’m trying to pay attention to which players actually played the best of all.


    So, nothing imminent but if there’s sufficient interest then it might amuse us for a wee while.


    Hail Hail.

  2. I would hope & have reasonable expectations that in 12 weeks the virus will have passed it’s peak but that will only happen if the right decisions are made now and the general population, you and I buy into this and take personal responsibility for our own safety.


    I am totally gobsmacked that the UK hasn’t closed Pubs, it is a very obvious high danger area.


    In fairness the Government here moved swiftly but still the figures are rising, today was the biggest single rise yet & all the signs are that we have weeks to go before numbers peak.


    I would think the UK is a few weeks behind us, I sadly expect the UK figures to surpass the 100K mark before we get anywhere near the peak.

  3. AuroraBorealis79 on

     “would hope & have reasonable expectations that in 12 weeks the virus will have passed it’s peak”



    People are talking about the peak all the time. The real issue is that there is no vaccine for it &, regardless of whether it is at its peak or not it spreads like wildfire.



    Does it go away after it is peaked or is this something we will have to live with? There is so little I know.

  4. Rock Tree Bhoy on

    JOHN1314MAC on 19TH MARCH 2020 5:58 PM



    I thought it was your own post, hence the confusion when I saw the article in the GT, thanks for the clarification,

  5. Rock Tree Bhoy on

    Just back from Tesco, zero essentials, no sugar, butter, flour, soap, toilet paper, kitchen towels etc, loads of empty shelves with a sticker on them saying 3 items per customer only! Saw a couple of senior citizens wandering about in amazement at the empty shelves, no way they got what they came in for.



    Spoke with a supervisor, she said that the shelves are filled overnight, they open at 0600 and by 0800 they are empty, I had no idea that we have so many absolute selfish ba@&%@ds in Scotland.

  6. Of course the peak is just that, the point after which the numbers infected reduce but of course doesn’t stop. So there will still be many deaths thereafter.

  7. AuroraBorealis79,


    Like you, I know very little about it myself but I read a lot about it and it seems that if there is a total lockdown & the general Public respect the lockdown , the tide should start to turn in a couple of months.


    It is also expected that in the Summer Months the virus will not spread as easily. 12 weeks will have us into June and for all our sakes it would need to have peaked by then.

  8. RTB


    It’s the same everywhere – our local Sainsbury’s had the first hour this morning for the elderly and other vulnerable people. My mother in law who is 85 went down – carnage no priority for the elderly – she was not happy. They’re supposed to do the same next Thursday 🤔

  9. We are in a good place at present. How about helping the whole of Scottish football?



    We could buy sevco as a feeder club.

  10. If the virus hasn’t lifted why don’t the scrap the league cup next season play the 3 games to the split then play games till it’s Mathematically done Celtic might just have a couple of games to play then continue for the new season same can be done for bottom 6

  11. The Asian countries were locking down straight away .. using mobile technology to keep a check on people’s comings and goings .. the Chinese were brutal but effective in reducing the spread ..



    Just dithering here to try and stop the economy coming to a standstill .. money before life’s .. imo, anyway

  12. 2 aliens landed on earth after the human race had been destroyed. One said to the other ‘I don’t know how they perished but they’ve got the cleanest arses I’ve ever seen’

  13. You guys who don’t read back to the drivel I post overnight miss out on real news.


    I posted this at 4:18am on St Joseph’s Day


    One word of hope for a defence against the virus.




    It’s a readily available, cheap anti malaria drug, and some Stanford Professor or doctor was saying that it shows promise in reducing the severity in patients and speeding recovery. It may be a false dawn but we can hope and pray.


    So you could have said you saw it first on



  14. RTB – Tesco supervisor talking shite, I went up yesterday morning at 6.10 am and they had nothing the staff were filling shelfs but not the essential stuff, I guess they do that when I start work at 8am. My mate/neighbour went up today at 6.05am and zilch.



    A feckin joke for the elderly and people who are working. Went at 5 pm today when I finished and went to Asda thus morning at 11am nada, how the feck are you ment to get anything?



    Anyway not long back from Costco no butcher meat we wanted but got 2 x cases of T-Lager and 1x case of Peronni. Oh and a case of water and cakes for Mrs David66 work mañana



    So I am up again at 5am to go to Tesco and or Asda mañana on the elusive meat front



    D. :)

  15. I think the SFA has the ideal opportunity to re-jig the whole of Scottish Football. Give Celtic the flag, make the SPL a 16 team league , therefore promoting 4 from Div ( championship and so on and scrapping Div 2.


    The SPL will then only play twice a year rather than the current set up of a split league and all that bollocks.


    Only my opinion mind





    LurkinTim, no doubt you’ll call me a wanker!!!!




    Hopefully not. Boris is a bawbag, but hopefully he is correct this time. Where I am concerned, is that previous pandemics have had multiple outbreaks.



    Incidentally the Chinese economy has bounced back, recording modest growth of circa 0.03%. Western economies have went into freefall.



    Cheers and HH.

  17. Shuggiebhoy67 on

    Does anybody else think that Budge`s ploy of playing to a half empty stadium,


    rather than sell the Celtic support an adequate allocation is the very definition of Karma?


    Well done St.johnstone and others who put paying customers first.



  18. D66



    An auld guy (me) complained today that I couldnt get beer due to some guy in front of me (you) buying all the beer.



    Whats that all about ?




  19. Canamalar it looks like OCD obsession on



    I thought they had the big meat vans in the fruit market?


    Have they stopped

  20. Canamalar it looks like OCD obsession on



    The Chinese economy is going to go haywire soon since they will be back to normal in a couple of weeks and soaking up all the slack that will result in the west being so lax in responding.

  21. Coronavirus – Joint Response Group Update 19 March



    The Scottish FA reiterates that all football in Scotland, both domestic and professional, remains suspended indefinitely. For the benefit of planning, the Scottish FA confirms that football in Scotland will not resume before 30 April. The medical advice is that we will not have reached the peak of the coronavirus epidemic in this country by then and the escalating measures which restrict the ability to play football matches will likely remain in force.

  22. I see there’s a program on ch5 ” secrets of your supermarket food” maybe it’ll tell us where to find it 🤔

  23. EMBRAMIKE on 19TH MARCH 2020 7:56 PM



    Are Peter, Maxwell and Doncaster coordinating statements ?

  24. kinglubo



    Far too sensible an idea lubo for it ever to be taken seriously. Though it should be. No relegation at the end of this season, whenever it ends, and top two promoted. Dundee United will make a welcome return plus one. Problem, for me is the SPL mentality. If you are in it you do not want change, unless it specifically helps them, ie Hearts in this case. SPFL “met up” today, with some clubs wanting the season to end now, to enable access to SPFL/BT cash, others less so, with the WWII scenario still being peddled, and Celtic being the “unofficial” champions. That was given short shrift by Celtic, who thankfully support the idea of finishing the season at some point in the future. SFA has already stated that the Scottish Cup semi-finals and final could start the next season, assuming of course we are playing football by August.

  25. FB 8:05 pm



    Pompey was on Fox News yesterday already China as they sat on it for a month, meanwhile tangerine heid sat on it for 2 month as it minght have affected his campaign.

  26. I’ve run out of toilet rolls and had to use lettuce leaves instead.



    It’s the tip of the iceberg.

  27. Classy statement from Celtic today. Peter coming to the fore when needed. You would not want anyone else to steer us through this. Stockpiling cash has proven to be of the utmost diligence. Praise for our liquidity has been in short supply, much like the appointment of Neil Lennon, praise and criticism do not come in equal measure for our custodians.

  28. The sporting famine continues but managing to escape to the fresh air and wide open spaces of the golf course. Let’s hope the season is not declared as null and void after grinding out 30 matches through hail rain and snow. Surely this cannot be right . Best of luck to all CQNrs in the battle against this dam coronavirus.

  29. My understanding of the peak, is that say today the daily increase is 300 in a couple of days 600 & so on so we reach a time they are increasing at 3000 a day, then we hit the peak the following week numbers are still rising but at a slower rate and as the weeks progress the weekly increase is less & less, but there will always be new people getting the virus.


    My daughter in law had to close her Business last Monday, she checked her Business Insurance Policy and it did include a Business Interruption clause, innocently she said to guy from Insurance Company, I could be closed for a month, he actually laughed at her & said I can assure you, you are looking at a 3 month minimum closure,

  30. Adi -😂



    Canamalar – dunno not been in it for years but that used to be a Sunday at Car Bootie I might check it out on Sunday if not locked down.👍



    D. :)

  31. Johnson is a good ‘watch’. Yesterday, flanked by the two authentic science men, he looked petrified – in over his head.


    Today he was back in London Mayor mode – arm gestures, optimism, buffoonery and incoherence.


    He is now totally outwith his comfort zone. Any reputation he ever had was based on flamboyant optimism and individualism.


    This virus demands sober, cautious analysis of evidence. Johnson can’t do that. For survival there has to be recognition that the needs of the community outweigh those of any individual. These concepts are quite alien to Johnson.

  32. fairhill bhoy on

    Don’t usually post on political stuff,but this is a war without guns and China have handed trump and everyone else there arse,in my opinion

  33. If Celtic sacked PL we would have to replace him.


    We could have a razzmatazz CEO who bought big money players and took our wage bill to £100m leaving us zero in the bank for a rainy day.


    We could also have a total business CEO who would sell McGregor and Edouard, banked all the money and took our wage bill to £25m and kept £100m in the bank or paid massive dividends.


    We could also have a CEO who appoints an IRA man as our new PR guy and makes daily statements like… Rangers died… You’re Sevco Cheating bassas.. .. 55 titles?… More like zero… All to appease the less cerebal in our support.



    Just like no one could give me a better alternative to Lenny as manager last year, no one has given me a better alternative to PL or to the current business model.



    I’m still puzzled by his actions re res12 but when he has got so much right, I’ll give him the benefit of the doubt and accept he’s doing it for the LONG TERM good of the club.



    He’s not perfect but he does most things right.



    He’s a Celtic fan and the huns hate him and it’s ts reciprocated.





    I’m glad we have him.

  34. david17 on 19th March 2020 8:13 pm




    ‘ Stockpiling cash has proven to be of the utmost diligence.’






    Only if the reason you were sitting on the cash was because you anticipated a pandemic and economic carnage.



    Otherwise it’s just a fortuitous coincidence.

  1. Pages:
  2. 1
  3. 2
  4. 3
  5. 4
  6. 5
  7. 6
  8. 7
Do Not Sell My Personal Information