Tormented Hearts fans round on Vladimir Romanov's son at Jambos' AGM
24 May 2013 09:39

Gary Ralston

DESPITE a show of hands against Romanov junior being re-election to the board the decision was passed because of UBIG’s 79 per cent stake in the club.

HEARTS fans delivered the only surefire certainty at Tynecastle yesterday when they raised their arms as one and told chairman Roman Romanov to quit.

Unfortunately, on the future of their troubled club, it was more questions than answers as the need for new owners of the Jambos becomes ever more pressing by the day.

In their heyday Hearts annual general meetings, like the car park at Celtic, witnessed theatre every bit as controversial and entertaining as anything their team served up on the pitch.

One year, two fans traded punches outside the Willie Bauld suite in protest at Vladimir Romanov’s running of the club.

In April 2008 his son Roman did everything but ask shareholders outside for a rumble, labelled one inquisitor a “provocateur”, claimed the SPL was “fixed” and that refs had “screwed” Hearts in the previous campaign.

The meeting of around 250 shareholders yesterday was a more sombre affair. Chaired by director Sergejus Fedotovas, the mood reflected fan concern for the very future of their club.

Unsurprisingly, the Jambos were still in unforgiving mood when Romanov junior was put forward for re-election to the board against a backdrop of financial meltdown for his father’s business empire in Lithuania.

One shareholder stormed: “Most of us have not seen him since that tirade against us at the AGM several years ago.

“It’s ludicrous the chairman has not been involved and present at Tynecastle since he embarrassed himself and the club.”

He was warmly applauded and Fedotovas, sitting alongside fellow director Vitalijus Vasiliauskas, later said: “This will be passed on and hopefully he’ll give you a message of some sort.”

One fan dead-panned: “Hopefully that he’ll be resigning.”

It was one of few moments of humour and although the show of hands from shareholders against Romanov junior was unanimous, the resolution was passed on the weight of UBIG’s
79 per cent stake in the club.

The SPL decided this week there was insufficient evidence at this stage to suggest UBIG had gone insolvent and this appeared to be backed by Fedotovas.

Fedotovas was also quizzed on the position of the administrator of Ukio Bankas, who could theoretically sell Tynecastle to pay off creditors.

Romanov’s right-hand man believes it unlikely. He said: “Our understanding as a board is that UBIG is considering its next steps – whether the company will enter into bankruptcy proceedings or go to a state of alert.

“There may be implications for our company in terms of the existing rules – a points deduction if they go into bankruptcy, which would have a significant impact on our club. We are working to establish the position.

“As for the stadium, to my knowledge the security against it has not been called up by the administrator in Lithuania.

“If we sell any players, the administrator would not be entitled to the income. We’re trading normally and have received no demands to divert income to the bank or its assignees.

“The administrator is positive about a mutual agreement to resolve the current situation, rather than a hostile calling up of the debt. We are looking to find agreement and preserve the current position of the company.”

But Fedotovas admits there will be a £2.5million funding shortfall, to be plugged by £1m of player sales and £1.5m they hope to raise from a members’ scheme, details of which are still vague.

Hearts have allowed their biggest earners to quit the club leaving a clutch of promising kids who have still to mature.

But Fedotovas claims their £1m target is realistic and still reckons top six and Europe are a possibility under Gary Locke.

He added: “Looking at our squad, we believe the worth of talent to be in excess of what we have calculated. However, being realistic, we’ve put a figure of
£1m on it.

“We budgeted on a pessimistic level of results and if we have a better season can add revenue from departments such as ticketing, commercial and hospitality.

“We’ve spoken to Gary about his playing budget and it will be one of the best in the SPL.

“We hope to produce a team that can improve significantly and turn the club to a position of glory in the league and Europe again.”

Vladimir Romanov is reported to have suffered a stroke and one fan stood up to wish him well.

Fedotovas added: “For someone of his age it’s difficult to bear physically and emotionally, as much as financially. It doesn’t leave you without an impact.”

The Jambos are also suffering and the Federation of Hearts, an umbrella group of concerned fans, groups and organisations, are keen to lead a buy out.

Fedotovas added: “It’s the view of the board a bid by fans is realistic and can be achieved.

“However, if a significantly strong bidder emerges and can put in the right resources and strategy it might be different.

“There’s no way we’re against fan ownership. It may be more secure for the club to be in the control of some people who care about it.”

Roman Romanov is unlikely to be asked to play a part.

Taken from the Daily Record