Vlad all over?

Published on Saturday 13 November 2010 10:29

FORMER Hearts chairman Leslie Deans believes it would be a tragedy if Vladimir Romanov sold Hearts.

• Romanov: ready to sell Hearts? Picture: Neil Hanna

His comments came following an interview with club director Sergejus Fedotovas which revealed that the Russian businessman is growing tired of opposition to his plans in Scotland.

Lack of progress with Tynecastle's proposed new main stand has left Romanov deeply frustrated, as has the Financial Services Authority's refusal to grant a banking licence for the first UK branch of his Lithuanian bank, Ukio.

Consequently, Romanov is considering selling Hearts despite investing a further 10million in the club in exchange for an increased shareholding this week.

Deans today pleaded with the 63-year-old to think carefully before taking any action which may leave Hearts in a vulnerable state.

"In my opinion it would be sad if he reaches the stage where he felt he could not take the club forward," said Deans, who sold his Hearts shares to Romanov in 2004. "Running football clubs is not easy. I did it 12 years ago and I wouldn't want to have to do it again because it's more difficult these days. It requires a very great input and substantial sums of money.

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"Our football does not have the financial riches apparent south of the border. Scottish football in general, and Hearts in particular, could ill-afford to lose someone of the quality of Vladimir Romanov, I can only hope he decides to stay on for further adventures with Hearts."

"We have a man whom I have considerable regard for, a lot of respect for, and who has been a tremendous colourful presence in Scottish football for the past six years. He stopped Hearts from suffering a death sentence in 2004 and I sincerely hope he will remain at the helm for many years to come."

Edinburgh city council has told Hearts that safety regulations mean they could not expand Tynecastle beyond ten per cent of its current 17,200 capacity. Consequently, plans for a 51 million development have been shelved and even a drastically scaled down project would be unviable.

The FSA has thus far refused to allow Ukio Bankas to open in Edinburgh, where Romanov purchased the former Royal Bank of Scotland building in St Andrew Square in 2007 for 20m. The intention was for Ukio to occupy the premises but it remains empty.

"We would definitely have to reassess our plans," said Fedotovas, a director of Hearts and Romanov's company, Ukio Bankas Investment Group. "Decisions will have to be taken to minimise our investment in the bank and just support the club, or to walk away by selling the club. Selling the club is an option because there is nothing that prohibits us from doing that. If no-one cares and no-one is interested it could be an option."