With mysterious moneymen circling, alarm bells must be ringing at Tynecastle, Ibrox and Dens Park

He could yet be rivalled by a Scandinavian consortium.

Up the east coast, more US moneymen are seeking to invest in Dundee.

Meanwhile, Dubai investors are working to oust Rangers chairman Malcolm Murray and strengthen their own grip on the club.

Surely alarm bells must be going off at Tynecastle, Dens and Ibrox.

As the true scale of Vladimir Romanov’s financial meltdown is laid bare, why would the Jambos leap into a relationship with fresh owners they know nothing about?

It’s safe to assume neither the Yanks nor the Vikings grew up in the Wheatfield Stand worshipping Drew Busby or John Robertson.

Likewise, the Texans seeking a foothold with the Dark Blues couldn’t belt out a chorus of “Robertson, Penman and Alan Gilzean”.

Indeed, one of the would-be investors was unmasked as a Dundee UNITED fan when he tried to pump money into St Mirren last year.

After brushes with Ron Dixon and Giovanni di Stefano in the past, relegated Dundee would be well advised to complete due diligence - and a bit more - before leaping into bed with another owner from a far-off land.

The ownership battle at Ibrox is becoming as bitter and unsavoury as we’d all predicted.

Oh for transparency, honesty and the “cleansing” process which Ally McCoist craves.

In all three cases, sympathy is due to the long-suffering supporters of these clubs.

Hearts fans have just heaved a sigh of relief after a full-scale SPL probe into Mad Vlad’s struggling UBIG operation spared them the drop into Division One.

They’ve seen player after player stripped from the wage budget in a bid to balance the books.

Now they’ll sweat through the close-season as UBIG teeters on the brink of insolvency and Hampden top-brass stand by with a 15-point penalty for the start of next season.

Dundee fans must face up to a new season in Division One after the Jambos were let off the hook.

Downsizing is inevitable, even if league reconstruction does open fresh income streams beneath the top-flight.

The fans’ group which owns a majority stake in the club faces a big call when they vote on buy-out proposals on June 15.

Supporters’ Direct have already called on them to stay strong and keep the club in the fans’ hands.

That’s what Edinburgh MP Ian Murray would love to do with Hearts.

He wants to nip ahead of the Americans, Scandinavians and former Livingston owner Angelo Massone and take back his club.

Rangers, of course, have missed that golden chance.

Yet again, their supporters are hostages to fortune as the boardroom battle gets messy and they question whether or nor to fork out for season tickets amid fears where their cash will actually go.

This promises to be a defining summer for all three clubs as the battle for ownership intensifies.

It’s crucial for the long-term stability of three of Scottish football’s great institutions that the supporters are NOT forgotten in the stampede to make cash.