Foundation of Hearts 'endorse wholeheartedly' club's wage cut stance

Hearts players have been asked to a wage cut of between 10 and 30 per cent

The Foundation of Hearts have “wholeheartedly” endorsed the club’s decision to request players take a salary cut of between 10 and 30 per cent or face the prospect of having their contract suspended without pay.

Chair Ann Budge released a chairman’s update on Friday afternoon outlining the position Hearts are taking.

She reiterated her desire to protect the club and not burden it with football debt, and with no specific date in place for football’s return the belief is that a wage cut “is the only way for the club to proceed with financial certainty”.

Foundation of Hearts chair Stuart Wallace has backed Ann Budge. Picture: SNS

Players have been advised that if they are not willing to accept the cut the “only viable alternative” is for the club to invoke “Clause 12 of the standard SPFL contract which means that they will not receive any wages during the period of suspension”.

The wage cut stance has earned the support of Foundation of Hearts.

The fan-led group have pledged more than £10.1million and are due to assume ownership at some point this year.

The organisation’s chair Stuart Wallace wrote to pledgers welcoming Hearts’ decision and how they will “always support strategies which prevent past mistakes being repeated”.

“There are two over-riding and linked principles which the statement makes clear,” the message read.

“First, that the club’s business plan is geared to ensuring the sustainability of the club through and after the impact of Covid-19. Secondly, that decisions and actions taken now should not result in football debt being passed on to the next owners of the club. These are principles which, not surprisingly, we endorse wholeheartedly.

“We all know the impact of the club being burdened by debt and after the years of financial support which supporters have given to the club through the Foundation, to be placed in that situation once again at the very time that fan ownership becomes a reality would be quite intolerable

“We therefore welcome the chairwoman’s stance on this and are in full agreement with the proposals she has outlined. We are very grateful to those players who have already declared their support and acceptance of the temporary measures.

“Others need time to process and discuss the situation based on their own personal circumstances and this too we absolutely appreciate.”

Wallace added: “We would also like to pay tribute to the staff of the club. They have gone the extra mile to help its long-term future and we truly appreciate that.”

Budge was quick following the suspension of football to warn staff and fans of the difficulties which lay ahead. On the March 18 she released a statement announcing the club’s decision to ask “full-time employees, managers, coaches, players and player back-room staff, with effect from the beginning of April, to accept a 50 per cent cut in their monthly salary”.

That was subsequently altered due to developments, namely the Government’s Job Retention Scheme, with the Hearts chairman stating that “the majority of cuts fall below 30 per cent”.