Hibs have admitted that “difficult choices” are being considered to safeguard the club’s long-term future and chairman, Ron Gordon, has warned cuts will be needed.
With no clear end in sight and a full return to football in stadia full of supporters likely to be in 2021, there has been, and there will continue to be, a substantial and unsustainable strain on the Club’s finances.
The Easter Road club forecast that their revenues will be halved in 2020-21 and we anticipate a significant loss for the current season that was cut short in March, despite the support shown by fans so far.
Chairman Ronald Gordon said “We’re all excited that football is returning – but it will be behind closed doors, with likely limited attendance as a next phase. That means we continue to endure limited revenue opportunities for the foreseeable future. Therefore, several initiatives, activities and services at our club need to be paused or scaled back until it is safe, permissible and financially prudent for us to resume activity.
“We must now focus our limited resources on our core business – and that is supporting our first team to deliver success on the pitch. That is what we are here to do. This scaling back will have an impact on our people, and we enter into a period of consultation with them to discuss the potential impact on them. I would like to thank the contribution and efforts of all of our staff during this difficult time.
“I would also like to thank our supporters who, recognising the threat to the club, have responded. Around 8500 Season Tickets for next season have sold so far, with more selling each day despite fans knowing that the timing and shape of next season is far from clear at this stage. Our “Thank You NHS” home shirt was launched to national acclaim and record sales. And with the 2019-20 season called early, with four home matches not played, less than 15 per cent of season ticket holders have requested a refund.
“We will get through this by all working together. Supporters, staff, management and players have all played their part so far, and I believe will continue to do so.”
Monies raised through the sale of season tickets for 2020-21 will help fund next season’s campaign. The club welcomes the announcement of a framework agreed between the SPFL and Sky which should see the top-flight of Scottish football resume in August.
With football facing a “behind closed doors” start to the season, the new framework means those who have already purchased season tickets for season 2020/21 now know they are guaranteed to see all home matches live until entry to stadiums returns.
