With Hearts carrying serious amounts of debt, director Sergejus Fedotovas has advised anybody interested in taking the club over from Vladimir Romanov to ensure they have very deep pockets. Romanov announced last month, in his own inimitable style, that he had become disillusioned with football and placed a £50m price tag on his shares. 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. Just yesterday, Edinburgh City Council pulled out of a joint venture of a new stadium for the Tynecastle club which means the new owners pockets may have to be very, very deep indeed. Romanov's right-hand man, Fedotovas announced that preliminary talks had been held with interested parties, before outlining the criteria any potential buyer must meet before proceeding into discussions about the sale of the club. Fedotovas said: "We have had discussions with individuals and groups from Scotland and outside the UK. It would be great to sell to a Scottish-based investor or consortium but we remain open-minded on the matter. There are also important criteria that will have to be met by any potential buyer. Firstly, buyers must make a realistic offer for the club. The present majority owner has outlined his understanding of the value. 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 went on: "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 and seek their help to provide an offer on your behalf."
Source: FOOTYMAD
