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The Adidas deal, Hearts first to move

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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.

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  1. corkcelt et al

     

     

    Just listening to Question Time on BBC1 right now, Matt Hancock has just informed us that the NHS has developed a new test (blood) which will tell if someone has had the Corona virus, and “recovered”. A major step forward, but not one that negates the necessity for increasing the current (swab) level of testing at a Community level. How else to make at least an educated guess at the exponential impact?

  2. It appears that the government aren’t going for a complete lockdown as long as all the old folk are isolated as they are the ones that will put pressure on the NHS.

  3. Gene

     

    My wife tells me that Donald Trump mention it today at his press conference

     

    Therefore

     

    Donald Trump reads CQN

     

    😂😂😂😂

  4. Greenpinata on 19th March 2020 6:21 pm

     

    ‘PS : The big Glasgow TRNSMT festival organisers have just announced the show will go ahead as planned in July.’

     

     

    ###

     

     

    Not quite what they’ve said.

     

     

    They say it’s still scheduled to go ahead (ie it’s not cancelled yet) and that they are constantly monitoring the situation.

     

     

    I doubt it will happen.

  5. Strathclyde park is going to be a field hospital from next week-hence the army.

     

     

    TRSMT…. Will not go ahead-no chance.

     

     

    There will be no football in Scotland until 2021.

     

     

    All above… My humble opinions.

  6. Melbourne Mick on

    Hello again all you young rebels.

     

     

    Back home now and locked up in our wee but an ben for self

     

    isolation as they call it, for the next two weeks.

     

    Family managed to get us groceries in to sustain us during our

     

    lockdown so no worries there.

     

    Luv Jobo’s idea about watching the 67 triumph again, and again

     

    and probably again, i can do that, but who to leave out of my

     

    seven picks Jobo, phew that’ll be a hard one.

     

    Still a bit delicate from our Celtic farewell party yesterday and

     

    that very poignant rendition of walk on, i know some of our

     

    bhoys and ghirls from the big boat will be looking in here, hope

     

    you all get home safely.

     

    Now to watch the Lions become European champions.

     

    COYBIG.

     

    h.h . mICK

  7. nally 81 8.52

     

     

    I would agree with your post.

     

     

    Keep safe to you and yours.

     

     

    HH

  8. Well if Pedro just got lucky & his money gathering was proved a master stroke by the Pandemic, well ye know what Napoleon said about lucky Generals.

  9. Daughter did a run to the local store today, as we were hearing Chinese whispers that we were going to have a complete shutdown this weekend for 14 days to arrest the spread.

     

    I wonder if it will be read it’s Miranda rights.

     

    I sat in the car park wearing my mask.

     

    Mostly women were doing the shopping run and happily most were wearing masks.

     

    I witnessed an old lady struggling with her cart and a young guy ran up, took it from her and packed her car with her groceries. Well done young man.

     

    Plenty of produce, meat shelves were ok , but the vegan fridges were still bare.

     

    Tins, eggs, cereals, crisps etc were being restricted to two items.

     

    Looking forward to seeing Jobo’s Coronavirus POTY

  10. All above… My humble opinions.

     

     

     

    Ron Bacardi on 19th March 2020 8:53 pm

     

    Maybe Lawell was saving for a rainy day

     

     

    ###

     

     

     

    In Scotland?

  11. They say there are 10s of thousands of unrecorded people with this virus ………..which means its not so deadly. In fact its a very low death rate. Be more worried about the massive recession that will follow.

  12. bamboo on 19th March 2020 9:14 pm

     

    They say there are 10s of thousands of unrecorded people with this virus ………..which means its not so deadly. In fact its a very low death rate. Be more worried about the massive recession that will follow.

     

     

     

    ###

     

     

    How many people do reckon are going to die of this in the UK?

  13. ERNIE LYNCH on 19TH MARCH 2020 8:32 PM

     

    david17 on 19th March 2020 8:13 pm

     

     

    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.

     

     

    ——-

     

     

    I am sure there were many reasons, but you know that. The simple fact is the money is in hand and the club is fiscally secure.

  14. NALLY81 on 19TH MARCH 2020 8:52 PM

     

    Strathclyde park is going to be a field hospital from next week-hence the army.

     

     

     

    TRSMT…. Will not go ahead-no chance.

     

     

     

    There will be no football in Scotland until 2021.

     

     

     

    All above… My humble opinions.

     

     

    ——-

     

     

    2021 is possible but i think it will be later this year.

  15. London Imperial College did an assessment which pointed towards 250,000 deaths in a year if the UK continued down the path of herd immunity.

  16. 10 years ago I had a close call to death. It wasn’t nice. It really puts a whole new perspective on life I can tell you. But. If there’s one thing that does my tits in is uneducated people spouting “facts” about the mortality rate of Corona virus because “ah read it in ta paper/oan line/heard it oan ra news”

     

    We ALL see/read/hear the same stuff, so to be reminded, on here, that the elderly/underlying health issue people are more or less fucked is the last thing that I, and I’ll guess a few others on here would like to see dialled down. There are people on here who will now sit and worry MORE after reading some of the stuff posted on here. I have deliberately avoiding the doomsayers on the news, papers, twitter and so on cod I’m SICK of hearing/reading I’m high risk. I come on here to get away from it all but it would seem that that idea is fucked. Thanks and goodbye until at least August.(I hope)

  17. Saint Stivs

     

     

    I went to see the Oscar Marzaroli photograph exhibition at 103 Trongate a couple of weeks ago.

     

     

    It has many really depressing pictures of Glasgow life in the sixties seventies and eighties. All in black and white which adds to the atmosphere.

     

     

    It is very well worth a visit if it is still open

  18. An Tearmann… Thanks and same back.

     

     

    David17. Hope you’re right but I think I’ll be right.

     

     

    Celtic will be awarded the title next month.

     

     

    We should be pushing for an equal split re the prize money…. All day andvevery day til then.

  19. ‘GG on 19TH MARCH 2020 7:27 PM

     

    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.

     

     

    Chloroquine.

     

     

    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

     

     

    CORONAVIRUS QUICK NEWS 😂

     

     

    ———————-

     

     

    I was prescribed Hydroxychloroquine for a condition I had. Was told there was chance it would damage my eyesight. Which was based on the fact that when it was given to soldiers as an anti malaria treatment the dosage was too high and that was the side effect. Some went blind.

     

     

    It did affect my eyesight slightly but returned to normal when I no longer needed to take it.

     

     

    My condition? Sarcoidosis.

     

     

    The symptoms of which have a lot in common with Covid-19. Except mine lasted 6 months. From those who have described it, Coronavirus sounds like a condensed version.

     

     

    Of course, sarcoidosis isn’t contagious.

  20. There is an old, even older than me, supposedly Chinese expression

     

    May you live in interesting times

     

    We certainly are at the moment.

  21. glendalystonsils on

    31003

     

     

    I’m with you on that one . Whether the doom mongers are right or wrong , it only makes a bad situation worse.

     

    The psychological effects of what we’re going through are the worst part and a lot of it is down to people who seem to take a macabre delight in spreading scare stories.

  22. Turkeybhoy ..If you’re about.. Just read your reply concerning wiggy Smith .. you’re probably right, I never read the article .. just presumed he was joining in with uncle fester and the null and void bandwagon…

  23. Supersutton

     

    Great personal anecdote. I’ve tried to follow up on the headlines on this anti malarial treatment and I haven’t seen anything else on it after Trump’s press conference.

     

    My fear is that the FDA will slow the effort down by demanding lengthy testing protocols as is their norm.

  24. glendalystonsils on 19th March 2020 11:15 pm

     

    31003

     

     

     

    I’m with you on that one . Whether the doom mongers are right or wrong , it only makes a bad situation worse.

     

     

    The psychological effects of what we’re going through are the worst part and a lot of it is down to people who seem to take a macabre delight in spreading scare stories.

     

     

     

    #####

     

     

    I haven’t seen any scare stories on here.

     

     

    I haven’t seen anyone taking a macabre delight in anything.

     

     

    I’ve seen posters denying that there’s anything to worry about and urging a complacent and cavalier approach.

     

     

    And I’ve seen posters pointing out the danger in that approach.

     

     

    And the psychological effects, while not to be understated, are not the worst things that can happen to someone from this virus.

  25. if you dont want to listen to the doom mongers then post anything that is not that,

     

     

    celtic, pictures, gardening tips.

     

     

    anything.

     

     

    i am trying my best.

     

     

    comment on the pictures.

     

     

    there is a brilliant series on now stv

     

     

    when english football ruled europe

     

     

    clough really was a management genius, trevor francis insights are incredible

  26. celtic have money in the bank, not sure celtic would be so silly as to not insure themselves to cover for such forced breaks in business given the business celtic are in. It may not be business as usual but I am sure celtic have left themselves exposed.

     

     

    I would guess other clubs in the spfl’s are not so well prepared given the drive to get the league over asap and to distribute t.v/ prize money for the good of the game.

     

     

    HH

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