Hearts director warns buyers

PA Sport
Vladimir Romanov
.

View photo

Vladimir Romanov

Hearts director Sergejus Fedotovas has told anyone wishing to buy the club from Vladimir Romanov to ensure they have enough funds.

Romanov has become disillusioned with football and last month announced the club is worth £50million. Whether that figure includes the £30m and more of debt or if Romanov is willing to write this off, remains to be seen, while a move from Tynecastle - which has been deemed unfit for redevelopment - would also have to be financed.

Fedotovas revealed preliminary talks had been held with interested parties. He told the club's official website: "It would be great to sell to a Scottish-based investor or consortium but we remain open-minded on the matter. Buyers must make a realistic offer for the club. The present majority owner has outlined his understanding of the value."

Romanov's right-hand man added: "An offer through an official legal or financial adviser will be more helpful. They must also demonstrate they have the realistic financial backing to carry out the purchase and to maintain the viability of the club on an ongoing basis."

In apparent criticism of those who have already expressed their wish to takeover Hearts, Fedotovas offered some advice to potential investors.

He added: "In some cases there is a big difference between interest and substance and it is the board's responsibility to ensure that the club is sold to the right people who can fund and manage it properly.

"There are plenty of examples where new buyers fail over the first 12 months. So my advice to people who are considering buying Hearts and do not hold significant financial reserves appropriate to fund and invest into the business - you need to discuss your ideas with professional financial and legal advisors in order to check if your offer is viable."

View Comments (0)