Ann Budge is stunned that every SPFL side have survived the Covid crisis so far as the Hearts owner sent a warning to clubs.
The Tynecastle supremo has been battling with loss of gate receipts, hospitality and a severe drop in sponsorship as clubs across the country face similar woes.
The Jambos put salary reductions in place last March and have continued to mitigate their losses as they surge towards the Championship title.
Budge that the furlough scheme has provided vital for Scottish football clubs and believes that once the government funding stops more problems will be on the horizon.
She said: “I’m quite astonished that basically all the clubs are coping because I know how hard it must be for everyone — and it can’t go on forever.
“A lot of it depends on the government approach and how long can it support businesses in the way that they have. Because without that, I don’t think a number of clubs would have survived.
“There was an underlying view that not all clubs would survive this. That was a year ago.
“Everybody is managing to keep going but I believe the threat is still there, for sure.
“If this carried on for another season, I’m not sure how many clubs would be able to survive.”
Such financial challenges have become commonplace for Budge as she attempts to combat the financial impact of the pandemic, all while seeking to plan for a return to the Premiership.
With Hearts’ turnover already down by more than £7 million, Budge sees at least three years of belt-tightening ahead.
She continued: “I don’t know if I can put a number on [the losses], but the previous year we had got our turnover up to around £15 million, and this year it will be half of that — and it’s going to be a loss.
“The objective becomes managing and containing that loss.
