'Hibernian's finances can only be described as a mess'
Things on the pitch at Easter Road are certainly on the up. It's now eleven matches unbeaten for David Gray and his players who are yet to taste defeat in 2025.They have also negotiated a difficult away tie in the Scottish Cup down at high-flying Ayr United to make it through to the last eight of the competition.However, while supporters are rightly buoyed by on field activities, the club finances can only be described as, a mess.Last Friday, Hibernian reported losses in excess of £7 million. A staggering sum for any Scottish club to lose, given the limited income clubs receive.Its now over £12 million in losses over the last three years and given these numbers are completely unsustainable, it's probably no surprise some senior personnel, including chief executive Ben Kensell,have moved on.In the previous year's accounts, until the end of June 2023, the club stated they believed "they had taken appropriate action to seek stability on the footballing side, which will have significant financial benefits".This has proven not to be the case with two managers - Lee Johnson and Nick Montgomery - both losing their jobs. The accounts show this has cost the club a significant six-figure sum.The most important aspect for supporters at any football club is what happens on the park.Gray and his troops are certainly keeping the heat of the board at the moment with their performances, and if they can negotiate their way past Celtic in the next round of the Scottish Cup, then they can look forward to another trip to Hampden.The clubs annual meeting takes place later this month and the board are likely to face some tricky awkward questions.Particularly given the warning from the club that this financial year has been "challenging".The Gordon family have to be congratulated for supporting the club through these difficult times, but supporters and shareholders alike should be prepared to see the club cut their cloth accordingly. Financial results like those reported last week simply cannot be repeated.
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