Vladimir Romanov, the Lithuanian owner of Scottish side Hearts, has said that the struggling premier league outfit is now worth only £50 million, Russian media reported Wednesday.
Romanov, a businessman of Russian origin who also owns sides in Lithuania and Belarus, is looking for buyers for all his teams after becoming disillusioned with the domination of money in football.
He told Russia's RIA-Novosti news agency that he expected to make a huge loss if he managed to sell Hearts.
"The money I have paid in is of course more. I have invested around £200 million.
"But if I sell it then we are looking at 25 million for the land and plus the players and the club itself is another 25 million. That means around £50 million. This is not the money that I put in. But this is what it is worth."
Romanov said that football business no longer interested him and he did not even bother to look at how his clubs were doing.
"Now I don't even go and I do not know if Hearts played yesterday or on Saturday or how they played. I also don't look at the other clubs.
"Each time you just get asked for money and each time I vow to give no more and they promise to earn it themselves," he grumbled.
Source: AFP
