I'LL MAKE JAMBOS KINGS OF EUROPE

VLADIMIR ROMANOV has told Hearts fans to trust him and he'll make them kings of Europe.

The Lithuanian tycoon has launched his bid to take the club into his private control and off the Stock Exchange, as revealed by Record Sport.

Romanov is offering shareholders 35pence for their shares via his investment group UBIG and has already secured a deal with institutional investors SMG and HBOS.

Added to Romanov's own 29.9 per cent shareholding, it gives him control of more than 55 per cent of the club's stock.

Romanov wants control of at least 75 per cent of the club, allowing Hearts to be officially de-listed from the Stock Exchange.

But he is also keen to tie up 90 per cent of all stock, at which point he could legally snap up every share.

The 35p share offer values the club at around £4.4million and added to the £20m debt he has already absorbed, as well as loan repayments of up to £4.5m to SMG, it means the total deal could cost Romanov up to £30m.

Romanov insists taking total control of the club is the only way Hearts can sustain their remarkable progress, on and off the park.

Indeed,there are no limits to his ambition as he spoke of one day taking Hearts to the very summit of the European game.

He said: "As a tradesman, if I look to sell a service I must convince you to buy it.

"In this instance, I'm asking for those with the best interests of the club at heart to go along with me because without that support we will not advance.

"Our goals are realistic if we make changes today but they might not be realistic if we wait until tomorrow.

"In my view a club from any country, irrespective of its financial power,has the potential to be champions of Europe and that is my dream.

"It can be done - Latvia earned the right to play in the European Championship finals last year and Greece won the tournament.

"Success can be achieved through a lot of hard work, honesty and integrity and it's a principle to which I want to adhere."

Any small shareholder selling to Romanov will retain, for life, the benefits that they currently enjoy such as club discounts and ticket priority.

It is a sweetener to fans and chairman George Foulkes has already agreed to sell his 200 shares to Romanov and is urging others to follow suit.

Foulkes said: "There are two principle reasons for trusting Vladimir. Firstly, no one else has come forward in the last two years and made the kind of investment he has in Hearts and will continue to make.

"Secondly,sincehehasbeen involved in the club he has done everything he said he would.He has been absolutely true to his word"If he has done this as a majority shareholder, in effect subsidising 70 per cent of the rest of us,how muchmore can hedo if heistheactualowner ?"

Romanov is looking for outright ownership and increased flexibility as he forges ahead with plans to improve the team further under George Burley without the hindrance of strict stock market regulations.

The board are also looking at two plans to redevelop the ground, to increase the capacity to either 25,000 or 38,000.

A crucial rump of around20 per cent of shares are held by former chairman Leslie Deans and Robert McGrail and it's understood they are willing to sell to Romanov, whom they have always supported,taking him to the 75 per cent mark.

Seven per cent of shares are held by wealthy fan Calum Lancastle and Trafalgar Asset Management but it's unknown if they are willing to sell.

The rest of the shares, approximately 20 per cent,are held by small shareholders, who were asked to purchase at least200at a price of140pence when the club was floated eight years ago.

Romanov is keen to snap up all shares and avoid the in-fighting that blighted the club during the Chris Robinson era.

He said: "We're looking to avoid conflict and factionalism among shareholders, one of the reasons I've sought to increase my holding. I want to avoid speculation and gossip that could damage the club.

"Over the course of the last year I've reviewed the course of action on which I've embarked and remain convinced we are on the correct path."

There are no widespread changes expected at board level,though SMG representative David Archer has stepped down from his role at the club

Taken from the Daily Record