Mr Romanov is Off!

[BornCaley]

New Board to be announced!

 

http://sport.stv.tv/football/clubs/hearts/216336-vladimir-romanov-relinquishes-control-at-hearts-after-quitting-ubig-board/

[Renegade]

Apparently, he told Lithuanian TV last week that he's lost all his money and might have to start driving a taxi! 

[Tichy_Blacks_Back]

Wonder which league they may be playing in next season?

[Alex MacLeod]

Could be an interesting twist to who's relegated if Hearts are administrated.

[Yngwie]

They have been at risk of administration all season, with the share issue only buying them some time. But I'm not sure if this development in Lithuania actually has any real implications for Hearts, because the money tap got turned off some time ago. They have been forced into financial self-sufficiency this season - which is largely why they have slid down the league.

[Rainbow]

On the long term this is good news for Hearts - and Scottish football. Even if it means administration and possibly relegation right now.

[KingBeastie]

On the long term this is good news for Hearts - and Scottish football. Even if it means administration and possibly relegation right now.

Yeah very true.

[Laurence]

Hearts could be in the hands of Romanov's creditors

When an owner goes bust, as opposed to a club going bust, it is a whole different ball game.

If the creditors of the owner so wish they could take over the club and sell it off. The land could be the site of a new supermarket.

[Yngwie]

At least a supermarket wouldn't charge us £25 to get in. 

[Alex MacLeod]

Hearts could be in the hands of Romanov's creditors

When an owner goes bust, as opposed to a club going bust, it is a whole different ball game.

If the creditors of the owner so wish they could take over the club and sell it off. The land could be the site of a new supermarket.

The one thing Tynecastle will never be is a supermarket. The infrastructure and city centre planning wont allow it. Make some very nice condiminiums though.

[Laurence]

When I was involved with Bury. The Owner lost shed loads of cash speculating on the London Stock market. To such an extent his creditors claimed  all his assets through the courts including Bury  ( Bury's accounts were in order ).  no debts and the lowest pay bill n the championship.

A court case resulted Bury got off the hook because the House of Stanley  ( Lord Derby ) who gave the land to the football club on formation, stipulated it was only to be used for sport. The judge threw  the winding up order out. The club was later sold to the co-operative formed by the fans.

However Bury was forced into administration which resulted in two relegations , but that's another story.

 

So with Hearts it my be the club can go into administration for its own debts , but may be subject to asset stripping by the creditors. I hope not.

[Yngwie]

Not looking at all good for Dunfermline, I can see them going bust before Hearts.

[starchief]

But why?  Not sure why Dunfermline should be losing money so readily.  I know they don't like their owner but I can't remember any big name buys.  They just seemed your typical 1st Division club that got a bit of success without letting it go to their head.  Must have thouygh but not sure where it happened.

[+DoofersDad]

Must be Barrowman's wages.

[Alex MacLeod]

But why?  Not sure why Dunfermline should be losing money so readily.  I know they don't like their owner but I can't remember any big name buys.  They just seemed your typical 1st Division club that got a bit of success without letting it go to their head.  Must have thouygh but not sure where it happened.

The taxman. Another club suffering from the need to build and maintain a stadium way too big for its needs.

[PullMyFinger]

When I was involved with Bury.

 

Okay, give us a laugh.

 

But why?  Not sure why Dunfermline should be losing money so readily.  I know they don't like their owner but I can't remember any big name buys.  They just seemed your typical 1st Division club that got a bit of success without letting it go to their head.  Must have thouygh but not sure where it happened.

 

Servicing legacy debt from the SPL, stadium development, trying to compete with cheating teams, economic downturn, old firm [lss than an hour away, etc., etc., ...

[+CaleyD]

Heard mention that Dunfermline have a bigger wage bill than we do.  If that's the case, then imagine that would be the biggest contributing factor to their current financial woes.