Former Hearts administrator Bryan Jackson insists Ann Budge was right to slash the Jambos’ wages now – before it became too late.
Tynecastle CEO Budge announced on Wednesday she would be asking all staff to take a 50 per cent cut to their salaries after Scottish football was forced into a coronavirus shutdown.
The news caused fresh panic for the worried Gorgie support, who still have painful memories of their 2013 administration battle.
It was Jackson’s efforts which helped stabilise the club after it left teetering on the edge following the collapse of Vladimir Romanov’s business empire, while it was then hauled back from the brink by a joint rescue deal agreed by Budge and fans group the Foundation of Hearts.
📝 Club statement— Heart of Midlothian FC (@JamTarts) March 18, 2020
While Jackson admits the uncertainty over when Scottish football will be able to resume action will be concerning Budge, he insists she is the right person to steer the club through its latest crisis.
Jackson, a consultant at Johnston Carmichael, told the PA news agency: “I wouldn’t say it was a massive surprise because I’d expected some form of proactivity of someone of Ann’s experience.
“I thought she would be looking ahead, summing up the situation and doing what she thinks is right for the survival of the club, because that’s what she’s doing – it’s about making sure the club is still here after the virus.
“These are peculiar circumstances. We don’t know the end result. I know what it’s like to operate with a cash flow when you’re dependant on weekly and monthly income.
“This is different when – say it’s the weather, even postponing just one game, the income from that game is budgeted to pay your wages. So I understand the problem the club has now.
“Ann is looking at the situation, thinking, ‘We’ve already missed games and we don’t know when the picture will change. It could be two weeks, two months or even longer – so we need to do something right now.’
“To me that does seem to be the right thing to do.
“To wait too long and not do anything could be more dangerous for the sustainability of the club. Ann is right to do what she thinks is necessary now.”
Hearts came close to the brink seven years ago with debts of more than £30million.
But Budge’s intervention saw a deal agreed with creditors and a plan drawn up to hand over ownership of the club to fans.
That was due to take place next month but Jackson admits the new virus crisis may limit how much supporters can do this time to help.
Asked if he had been asked to return to Tynecastle to help Hearts piece together a new survival plan, he said: “They don’t need me, they have good people at the helm. Having someone like Ann Budge there is a positive.
“What’s interesting is that when I was involved at the club, no matter how bleak it was while all these terrible things happened to it, the thing that sustained me was the Hearts fanbase.
“Hearts survived because of their fans. They survived because Ann Budge came along and joined forces with the Foundation of Hearts.
“The problem this time is that many fans are going to be affected by this too. I have a family friend who was told as of yesterday he was on two weeks’ unpaid leave. They now don’t know how they will pay their mortgage this month.
“This whole virus situation will have a ripple effect and it’s alarming – but I don’t think what Ann is doing is an over-reaction because we have to face facts, if there is no cash flow then you have do something.”
