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.

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  1. And another thing…..I wouldnt be surprised if we soon have “Cash Machines” NOT being filled etc.



    Folk are being told not to go out etc…but what if I need to go to a Cash Machine to get money to give it to someone who has kindly offered to do my shopping for me, but machines are empty ?


    So I have a wasted trip/walk to a cash machine…and then I would be forced to give someone my Bank Card and Pin Number etc in order that they can buy me food etc, as I am not supposed to go out anywhere ?


    My main mate is the Owner of my local Pub an he drives a Car, and he has offered to try and buy me some food etc from the Cash and Carry that he uses for his business.



    I would still have to pay him back in Cash, and he would be buying ME food etc using his Cash and Carry Account.

  2. AN TEARMANN on 20TH MARCH 2020 9:22 AM


    Big Jimmy







    You are highly vulnerable at the moment my friend.i would plead with you to take up a any offer of help of this venerable site.





    I detect you are fiercely independent I have no problems at all with that but I would advise you to stay put and take up the offer of help.You are still the same Tim as always.





    Take care









    Cheers mate. I am as independent as I can be and I have usually solved my own problems when possible.


    I hope that you are well etc.



  3. ERNIE LYNCH on 20TH MARCH 2020 9:50 AM


    Big Jimmy on 20th March 2020 9:31 am







    It wouldn’t have been hard to establish that anyone offering to help you was who they said they were and could be vouched for.







    And I had assumed it would have been a click and collect arrangement with whichever supermarket you normally get your delivery from.







    You weren’t forced to go out. You chose to do so. I can well understand that you wish to be as independent as possible, but maybe at the moment you just have to curtail that a bit for your own benefit and the benefit of everyone else.




    I dont do “Click and Collect”…but IF I did its entirely feasible that by the time I get there or someone does it for me…they food etc that I have ordered is NOT AVAILABLE ?


    Although I have booked a home Delivery for next Tuesday …(last Monday…EIGHT Days in advance)……I fully expect my order NOT to be complete due to selfish bastards panic buying, by the time Tesco try to fill and pack my order ?

  4. It will soon be Pub opening time…I wonder if I can can just only infect any Huns in the Pub that I dont like with my smokers cough ?




  5. I feel really sorry for “Sneezy” from the Seven Dwarfs at this time….lifted by the Polis and his wee mate “Doc” not willing to go near and help him !


    Some how Snow White and SIX Dwarfs doesnt have the same ring to it ?



    As for “Grumpy”…well I suppose he will just be more grumpy ?



  6. South Of Tunis on

    Big cheese Pugliese medic on the 11 am news-



    “Approximately 15% of Covid 19 cases in Puglia are people who left their job / studies in Lombardy / Veneto etc and returned to Puglia immediately before the travel lockdown..Do the exponential calculation for what happens next “

  7. My definitive Celtic title stance has nothing to do with Rangers and isn’t through blue-tinted specs – Barry Ferguson.




    of course it doesnt Barry….ya lying Hun ratbag !

  8. South Of Tunis on




    You might have already seen this – but –



    Interesting thing in today’s Guardian- Andrea Cristanti and Antonio Cassone re Covid 19 testing in Vo .


    My ISP refuses to let me do the link !

  9. Beautiful weather here in Bo’ness too.



    However, I am on antibiotics for a chest infection and according to the notes provided I have to avoid direct sunlight or daylight on a bright but cloudy day!!



    Mibbe I’m turning into a bliddy vampire!

  10. ERNIE LYNCH on 20TH MARCH 2020 9:39 AM



    ‘You shouldn’t be buying more than a week’s shop if you are healthy and able-bodied.’






    Suppose you are a healthy and able bodied mother with a husband and three kids and the government advice is that immediately any one of your household exhibits symptoms your entire household is to self isolate for 14 days, with little hope of getting a supermarket delivery within that time.



    Is it really selfish and irresponsible for someone in that position to prepare to be able to self isolate at a moment’s notice (which would be for the benefit of the public at large, not for anyone within the household)?






    When I said ‘Healthy and able-bodied’ I wasn’t referring to those who have to self-isolate.



    Those who are specifically expected to do so because they have symptoms or have been in close contact with those who have been diagnosed should of course prepare themselves.



    The shelves are not empty because of those people alone



    Another example today… a lady who I know has an elderly mother who went to do her shop at the designated elderly only slot 8am.



    She asked why the shelves were so bare.



    Because a bunch of folks made their way in at 6 am to ensure they beat the elderly to it!

  11. Was talking to my sister in law today.



    She has ordered toilet roll and ham stock cubes from…………….Amazon!

  12. League Reconstruction…..



    Will never be 16+ league again as broadcasters want a guaranteed 4 games of us v them.



    But making a 14 team league would easily work with a split after the first two rounds of games (26 matches)



    Top 6 would play the next 10 games home and away (no silly uneven H/A arrangement) giving a total 36 game program



    Bottom 8 would play another 14 games giving a total of 40.



    Given current circumstances a promotion of top two in Div One solves several problems.



    Broadcasters happy as they have their 4 Glasgow Derby matches and with the split after only two rounds of matches fewer occasions when the top teams are playing the ‘minnows’. Indeed we as celtic supporters might well be happier playing fewer games against the bottom half teams too.




    I probably should copyright this lol




  13. Philbhoy



    the price of stocks has gone through the floor, the price of stock cubes has gone through the roof!





    the Irish govt/civil service/banks/supermarkets etc have actually played a blinder the past few weeks . UK needs to do the same and appear to be now





    strong message from govt to wfh


    mortgage holiday for 3 months if layed off


    similar to landlords to offset tenants who cant pay rent


    evictions banned


    simpler , across the board job seekers allowance


    asking employers to pay the allowance as wages and claim back from govt (quicker for staff and they stay on the books)


    schools closed early; teachers using Teams, Skype etc


    Oral exams for leaving cert cancelled , 100% mark given



    downside is 150,000 out of work



    Sligo Rovers have layed off everyone because the league isn’t starting

  14. TIMALOY29 on 20TH MARCH 2020 11:56 AM


    NEVERALONE on 20TH MARCH 2020 11:24 AM




    A 14 team league is better






    Totally agree scottish premier league could easily sustain a 14 team league and it would be far better for all.



    Likely result we get more derbies and more competition at top and bottom of the league.



    Every team plays every other team an even number of times home and away top 6, bottom 8.



    Teams facing relegation get a few more games so lose less income as result of not getting into top 6 and have we bit more money should they be relegated.



    Top 6 fight for title and euro places, bottom 8 fight against relegation. Might be nice to reward winner of bottom 8 (winners shield) to keep it interesting for the clubs in 7th, 8th, 9th and 10th position.



    2 teams automatically relegated and the 3rd and 4th bottom enter play off to avoid relegation. Loser plays winner of playoff in championship so evens up chances for championship club, which is not the case at present.



    The status quo is long past its sell by date. The current problems will hopefully bring to head

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