Hearts owner Vladimir Romanov has virtually all his assets and money wiped out after his bank Ukio Bankas was placed into interim administration. Romanov has said that he will sell 51 per cent of the club to supporters’ groups and he doesn’t care about the price. Hearts are currently around £25m in debt.
Hearts owner Vladimir Romanov has virtually all his assets and money wiped out after his bank Ukio Bankas was placed into interim administration. Romanov has said that he will sell 51 per cent of the club to supporters’ groups and he doesn’t care about the price. Hearts are currently around £25m in debt.
The administrator may, however, take a less tolerant view as he has to secure the best return he can for the creditors. That does not mean that a reasonable price cannot be struck, but it may take time to reach a deal.