Deans sells to Romanov but Hearts' board may get a fan director

MARTIN HANNAN

IT WAS the day when businessman Vladimir Romanov all but took control of one of Scotland's most famous football clubs. Though he could soon do so if he wanted to, Romanov has no plans to change the name to Heart of Midlithuania, but there is no doubt that the banker from Kaunas is in total charge of Tynecastle.

Romanov is keen to dispel the image of a complete Baltic takeover. Indeed, Hearts fans will retain some say in the running of the Tynecastle club under a plan to have a supporters' representative on the board of the company. Yesterday's announcement that former club chairman Leslie Deans and his associate Robert McGrail had decided to sell a 16% shareholding to Romanov means that the Lithuanian banker is nearing his 75% target, and, with 72% already in the bag, he will certainly clinch it when the current share offer is finalised.

Romanov can then take Hearts plc off the Stock Exchange, giving the board much greater freedom to operate and force through any decision.

There is no indication from Romanov that he intends to press on and buy 90% of the shares, which would enable to him to force the remaining shareholders to sell their stock to him and make the club his private property.

Indeed, yesterday's events indicate that Romanov is unlikely to go for 100% control. For with the "full knowledge and approval" of Romanov, McGrail and Deans will sell 300,000 shares - just over two per cent of the total stock in the plc - to the Hearts Supporters Trust, whose secretary Derek Watson confirmed that the organisation's coffers could accommodate the estimated £100,000 cost of that purchase.

"We certainly have the money," said Watson, "and though we would love to have bought 51 per cent of Hearts, the club is just too big for us to achieve that aim.

"We will now be pressing for a seat on the board for a supporters' representative,and all the signs from the new owners have been very encouraging."

It is envisaged that the four main groups who represent the fans - the Trust, the Fans' Forum, the Federation of Supporters' Club and the Shareholders Association - will draw up a short list of possible candidates to be the "fan director".

It is likely that all season ticket holders would get the chance to be nominated and to vote, raising the intriguing possibility that former chairman George Foulkes - who has a season ticket for the Wheatfield Stand - could yet return as a director.

Leslie Deans's personal intervention has convinced the Trust that Romanov should be backed, according to Watson. "If Leslie Deans had been negative after his meeting with Romanov, then we would have had second thoughts," the Supporters Trust secretary said. "Leslie's recommendation and his decision to sell has been crucial."

Deans said: "I wanted more details behind the departures of the chief executive, Phil Anderton, and manager George Burley. I was given, in detail, the business rationale behind the decision being made. In fairness to all parties, it would be inappropriate if I made any comments. But I am now satisfied, as is Robert McGrail.

"This club has strong leadership. He is not the complete dictator that some people have been portraying him. Of course, he is a tough leader. He is a self-made businessman and they don't get to the top by being weak-willed.

"The shares are in safe hands with a man like Romanov at the club. He is determined to take this club to the top and intends to break the Celtic and Rangers domination of Scottish football, and I believe the man has every chance of achieving that. It is highly important in our view that all of the Hearts family pull together and back Mr Romanov."

Deans and McGrail were vociferous opponents of the previous ownership led by former chief executive Chris Robinson.

Significantly, Deans extracted from Romanov a firm undertaking that Robinson would not be back at Tynecastle as either employee or director.

Asked what the difference was between Robinson's dictatorial style and the tough approach of Romanov, Deans replied in one word: "Competence."

Taken from the Scotsman