Hearts: Even Vladimir Romanov can reach breaking point

Published on Friday 12 November 2010 20:32

EVERYONE has a breaking point. Even Vladimir Romanov. The words of Sergejus Fedotovas reverberated around Edinburgh and Scotland's entire footballing community like a bolt of electricity striking everyone down: Romanov is contemplating selling Hearts.

Building regulations preventing progress with plans for a new stand at Tynecastle are frustrating the club's manjority shareholder. Likewise, he is tired wrangling with Britain's Financial Services Authority to convince them that his Lithuanian bank, Ukio Bankas, is worthy of a UK licence to open an Edinburgh branch.

Romanov feels he isn't welcome in Scotland. Who can blame him? On top of the above, consider his relentless battles with the Scottish Football Association, who have fined Hearts every year throughout Romanov's five-and-a-half-year tenure and several times in between due to the Russian's verbal outbursts against referees and the Old Firm. Anyone in his position would be exhausted by all the friction, even if Romanov instigated some of it himself.

He can be a loose cannon, however he is anything but stupid. What he craves most is progress regardless of the project. He clearly feels he has reached a standstill at Hearts due to events outwith his control. And Romanov does like to be in control.

The man who invited Romanov to invest in Hearts, former chairman Leslie Deans, believes it no surprise that the Russian entrepreneur, now 63, is growing weary.

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"Let me say this: People can only take so many knocks," Deans told the Evening News. "The banking issue has been a knockback, and the stadium issue has been a knockback. There is also a feeling that Vladimir Romanov and Hearts have not been treated well by the football authorities on several matters. People can only take so many slaps and setbacks before they say, 'I've had enough of this'. If he reaches that conclusion, I believe it would be understandable. Equally, I think the man has backbone and strength of character and I think it takes more than a few setbacks to completely knock him out of the game."

Romanov has not yet given up on Hearts, but Fedotovas comments' are akin to erecting a metaphorical 'For Sale' sign outside Tynecastle. "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."

Deans, pictured right, points to Romanov's rescuing of Hearts from potential ruin six years ago as evidence of his character. He said Edinburgh city council which has thus far refused to grant planning permission for Tynecastle's new stand, and the FSA should take note and judge him on his merits.

"Vladimir Romanov arrived on our horizon for the first time six years ago. At that time Hearts were in a very, very difficult situation. The board had taken the decision to sell Tynecastle to a firm of builders. It was going to be bulldozed to the ground and Hearts were going to be playing at Murrayfield.

"Many people at the time said it was the death knell for Hearts and I agree 100 per cent. It would have been the death knell. Along came Vladimir Romanov and bought my shares, the board's shares and the shares of the former chief executive. He stopped the sale of the stadium and put Hearts on a much more secure platform than they were on before. For that, he deserves gratitude from anybody of a Hearts persuasion.

"Some people have short memories. He's been criticised plenty and I think he would be first to admit he hasn't got everything right. Nobody does. However, his credits far outweigh his debits and he's been good for Hearts over the last few years."

Safety regulators will not allow Hearts to construct a stand near flammable chemicals stored at the North British Distillery adjacent to Tynecastle. Control Of Major Accident Hazards, a government environmental agency, believe it would be unsafe.

"There are a number of issues here and you have to have sympathy," continued Deans. "Who was there first, Hearts or the distillery? The answer is Hearts.

"There has been a brand new Sainsburys supermarket constructed right behind that distillery recently. That place operates 24/7, whereas Tynecastle operates once a fortnight.

"There is the difference. You pose the question: What is the greater risk? Something utilised 24/7 or something utilised every second weekend. There is a certain illogicality to this.

"The banking thing is another matter entirely.

"You wonder if there is some form of closed shop or old boys' club trying to keep out what is seen as an upstart from Lithuania.The fact is Ukio is a properly regulated bank, it meets all the compliance tests and standards.

"It originates from another country which is part of the European community and it would be highly out of order if some sort of prejudice or bias was shown against Ukio Bankas without apparent reason.

"That goes against British fair play and I would hate to think that was the case."

Should Hearts officially be put on the market Deans believes there would be no shortage of suitors, although he highlighted the pitfalls of running a football club in Scotland.

"South of the Border we've seen Russian oligarchs, South Korean businessmen, Arab sheikhs and goodness knows what queueing up to buy top clubs. Manchester United, Liverpool, Chelsea and others are all owned by foreigners.

"Scotland is very different. We have the largest club in the country, Rangers, trying to find a buyer for more than two years and not been successful.

"That shows the market for football clubs in Scotland is not what it is elsewhere. That's because of the lack of finance.

"On the other hand, if you turn the clock back 20, 30 or even 50 years, every time Hearts has come up for sale there have been a number of people interested. Hearts is an institution. I'm sure, if it did come up for sale, there would be considerable interest. I hope it doesn't come to that. If Hearts is to be sold I would hope it ends up in the right hands, but let's hope Vladimir is going to be in control for some considerable time yet."