Hearts on the market?

Hearts FC is reportedly to be put up for sale, as owner Vladimir Romanov becomes disenfranchised with Scottish football and debts mount.

November has seen a shift in the club’s fortunes with unpaid players and confirmation from the man in charge that his time at the helm is over. Hearts has yet to publish finances for this year, but arrears are calculated to be between £25- £35million. This is despite the £10million equity deal made last November to avoid administration.

Players were this week paid wages overdue since 16th October. Although not the first time they have been kept waiting for pay, it was only a meeting with manager Paulo Sergio which kept them from reporting the club to the SPL.

Hearts FC’s wage bill is thought to be around £8million for this season already (Hibernian’s total wage bill for 2010 was £4.8million). Although the club insisted the delay in payment was due to timing issues rather than funding ones, fans have been left wondering if the financial situation is worse than has been predicted.

Romanov bought a 19.6% share of the club in 2005, which increased his overall stake to 29.9%. He has since become the majority shareholder with 82%. He has said this week “I haven't lost my interest in the club but I have for football…

“For seven years I keep hoping that in the country that is the cradle of football they will start respecting the game and stop taking the mickey out of the game itself and the people who are trying to fight for it, but it's like asking the mafia for remorse.”

He has announced that he will “consider finding a partner or selling the club." Romanov is thought to be turning his attention to Zalgris, the basketball team he owns in his native Lithuania. Having spent tens of millions on a new stadium and foreign players, he recently sacked the sixth manager in two years.

With the owner’s head turned and looking for a way out, Hearts fans will surely be wondering what the future holds. The anticipated ‘fire-sale’ of players is one possibility firmly ruled out, with a club spokesman saying: “The club has some of the best players in the country and no player will be transferred for a penny less than their true value.”

Whatever the prospects of financial harmony and a new buyer, the fans will have to hope for all the action to remain on the pitch: if the players are paid on time, that is.