Romanov moves closer to Hearts target

Hearts majority shareholder Vladimir Romanov took a step closer to taking overall control of the Edinburgh club after shareholders Leslie Deans and Robert McGrail agreed to sell their stakes in the club to the Lithuanian.

Romanov will confirm his increased stake in the club from 29% to 55.5% next week when he takes control of Scottish Media Group and Halifax Bank of Scotland’s shares.

But the Lithuanian is looking to reach the 75% which will enable him to de-list the club from the London Stock Exchange. Deans and McGrail’s total shares come to just short of 18% which will take Romanov just shy of his target.

However, despite the sacking of chief executive Phil Anderton and the resignation of chairman George Foulkes on Monday, both shareholders believe Romanov has the best interests of the club at heart.

The ex-Jambos’ chairman and McGrail met with Romanov and his son and interim chief executive, Roman, on Friday.

Deans said in a statement issued on behalf of himself and McGrail: “I first met Vladimir Romanov early in 2004 and I felt strongly at that time he was the right man to take Hearts forward. My view today is unchanged.

“He has reiterated to us his vision for the club and I feel his goals are achievable. As a result, while we still have to see the offer document, it is our intention to accept the forthcoming offer subject to satisfaction on the precise offer details for our respective shareholdings.

“It is highly important in our view that all of the Hearts family pull together and back Mr Romanov, without whose input Tynecastle would not exist today.

“We hope there will be an end to speculation following recent departures on which point we now understand the business rationale behind last weeks’ departure of the chief executive.

“I asked Mr Romanov to give us an undertaking that Mr Chris Robinson (former Hearts chief executive) would not be employed or appointed as a director of the company and I am pleased to say that Mr Romanov gave this undertaking.

“We have been approached by the Supporters Trust to sell them around 300,000 shares in the company and we confirm we are prepared to do so giving the fans a say in the club they love.

“The transaction is with the full knowledge and agreement of Vladimir Romanov. It’s 11-and-a-half years since I first acquired a shareholding in the club and the years culminating in the rebuilding of Tynecastle and the Tennent’s Scottish Cup win in 1998 gave me great pleasure.

“However, I, along with many others, had major concerns about the club’s very future over the last five years or so.

“But for the sterling efforts of former chairman George Foulkes and the supporters’ organisations the club may well have gone under.

“The arrival of Vladimir Romanov changed all that and I have every confidence that, under his strong leadership, Hearts are well positioned for future challenges.”