Hearts insist Tynecastle plans alive

AS HIBERNIAN move towards completion of their stadium, across the city at Tynecastle there is little indication that club owner Vladimir Romanov is about to replace Hearts' main stand with a much-talked-about replacement.

The building of a new stand with enhanced capacity and facilities has long been put forward by the Romanov regime as the route to increased revenues, but five years after the Russian took control of Hearts, the vision has yet to reach the stage of having a planning application approved.

At last year's AGM, club director Vitalijus Vasiliauskas insisted the 60 million project was on track, with a new main stand scheduled for completion by 2011.

Last week, fellow director Sergejus Fedotovas told a meeting of season ticket holders that the stadium redevelopment project is on-going, with news set to follow in the months ahead. "We are re-addressing the situation and changing the shape of the proposal given the current economic climate," said Fedotovas.

"We are looking at a main stand without the additional commercial development on site.

"We are doing the initial calculations and we believe the new proposal can work. We are working on the business model now, and we hope to announce the shape of this towards the time of the AGM, or thereabouts."

Fedotovas also revealed that a second debt-for-equity scheme is likely to form part of the stadium proposals. Last year, Hearts wiped out 12m of debt to parent company Ukio Bankas Investment Group with an equity swap.

The proposed new main stand has two tiers and seating for 10,000, taking the ground capacity to 23,000. In 2008, Romanov blamed the slow pace of change in Scotland for the delay to his project, comparing the wheels of Scottish bureaucracy unfavourably with China. At that stage, work was supposed to begin in the summer of 2009.

At last week's meeting. Fedotovas also assured season-ticket holders that Romanov remains committed to the club, despite not having attended any matches this season. Fedotovas explained the owner's absence as the result of other commitments, and said that Romanov stays in close contact with club officials every day.

"It is difficult for Mr Romanov to travel here with his business commitments, but I can assure you he has a full heart for Hearts," said Fedotovas. "He provides millions of pounds each season to support this club. I want to assure you that he cares for the club and I am really happy with his commitment.

"At the end of March there are direct flights to Scotland from Lithuania, so I hope there will be occasions we can see him before the end of this season."