The high and lows: Vladimir Romanov's time at Hearts

2005: After being knocked back by a number of other Scottish SPL teams, Vladimir Romanov gains control of Hearts FC. He says the club will win the European Cup within five years.

OCTOBER 2005: Manager George Burley, right, is sacked despite taking Hearts to the top of the league, just the day after Romanov increases his shareholding in the club to 82 per cent. His replacement, Graham Rix, is a controversial choice with the fans due to previous conviction for an underage sex offence.

31 OCTOBER 2005: Chief executive Phil Anderton, who had hired Burley, is sacked by Romanov. Chairman George Foulkes, who had helped to bring Romanov to the club in the first place, resigns in protest at Anderton's dismissal. Romanov replaces both of them with his son, Roman Romanov.

22 MARCH 2006: Rix is sacked by Romanov and replaced with former FBK Kaunas coach Valdas Ivanauskas.

2006: Hearts enjoy a successful season, making the qualifying rounds of the Champions League and becoming the first club outside the Old Firm to finish in the top two positions since the 1994-95 season. Hearts also win the Scottish Cup, right, beating Gretna on penalties in the final.

SUMMER 2006: Ivanauskas is appointed head coach on a permanent basis.

OCTOBER 2006: Vladimir Romanov says the whole Hearts first team squad will be put up for sale 'to Kilmarnock, or whatever club will take them' if they fail to beat Dunfermline. The club descends further into turmoil with captain Steven Pressley, right, addressing the media on the eve of the Dunfermline game, flanked by Paul Hartley and Craig Gordon, to speak of 'significant unrest' in the dressing room.

NOVEMBER 2006: Pressley, Hartley and Gordon form the so-called Riccarton Three and deliver a statement criticising the way the club is being run.

DECEMBER 2006: It is rumoured that Romanov is planning to open the first Scottish branch of his Ukio Bankas bank on Edinburgh's Castle Street.

DECEMBER 2007: Romanov wins a Lithuanian version of Dancing with the Stars. The businessman and his dancing partner Sandra Kniazeviciute, impress the judges with their performances of the paso doble, cha-cha-cha, foxtrot and waltz, picking up a winners' cheque of 30,000.

DECEMBER 2007: Captain Steven Pressley leaves Hearts after the Riccarton Three incident leads to him being stripped of his captaincy. He joins Celtic.

FEBRUARY 2007: An interview with Romanov in a Russian football magazine includes claims that both Celtic and Rangers have been making payments to match officials.

NOVEMBER 2007: Romanov reveals plans to open a hotel on the site of the A-listed former headquarters of the Royal Bank of Scotland, right, after a 15 million redevelopment.

JANUARY 2008: Hearts issue a statement outlining their search for a 'British style' manager. Almost six months later, the search continues after Mark McGhee turns down the position in favour of staying at Motherwell.

MARCH 2009: Romanov announces plans to stand for President of Lithuania. This is quashed by the Lithuanian electoral commission which says he is ineligible for that office because is Russian-born.

29 JANUARY 2010: Hearts legend Jim Jefferies announced as manager of Hearts only a few hours after Csaba Lszl is sacked. Observers believe it is a signal that Romanov wants to allow a greater Scottish influence.

OCTOBER 2010: Romanov's plans for a new stadium at Tynecastle look uncertain amid health and safety fears about a nearby whisky plant and threats from the city council to pull the plug on a major land deal. Hearts linked to new stadium to the west of the city planned by Rangers owner David Murray.