Hearts - A SCANDINAVIAN consortium is piecing together a takeover bid

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SunSport can reveal a group of six, who all studied in Edinburgh, have come up with a deal to buy out Vladimir Romanov. And they want the Hearts Foundation fansâ?? group on board to help run the club.

 

The consortium, whose ages range from 40 to 60 and span business backgrounds in banking, oil engineering, shipping and venture capitalism, would look to run things along a Scandinavian-type model.

 

That would see the club split into a separate sporting body and limited company.

 

The Hearts Foundation would control the former, with the new consortium managing the latter.

 

The sporting body would make money from selling its commercial rights to the limited company at the latest market rates.

 

Additional funds would be raised through a membership scheme â?? similar to the one used by German clubs â?? along with transfer income and a ticket revenue agreement.

 

Itâ??s likely there would be NO cash injections from the potential new owners, who would expect the sporting arm to be self sustainable.

 

They would know their budget at the start of each season, leaving them free from the instability that has dogged the Tynecastle club.

 

SunSport understands provisional talks have already taken place between a consultant the consortium have used and the Foundation.

 

Itâ??s hoped terms can be put to the fansâ?? group next week. But as yet no dialogue has taken place with Hearts directors.

 

Romanov has slapped a £50m price tag on the club, but they currently have debts of around £22.4m and it would be likely the Scandinavians would look to do a deal in the region of £10-£15m.

 

Itâ??s understood the group members are based in Norway and Sweden and have been involved in ownership of clubs in Scandinavia in the past, although at a minor level.

 

Three of the group would take a more active part, with the remaining three taking a back seat.

 

They would lean on the experience of Norwegian football, which has just entered into a period of stability after previous overspending left clubs struggling.

 

A source close to the consortium said: â??Itâ??s still early days but the consortium have looked into this and havenâ??t run away.

 

â??This model would be built on a realistic assessment of a club the size of Hearts.

 

â??Thereâ??s no reason why the club shouldnâ??t be the third biggest in the country and challenging.â?

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Hearts show willpower 
in new deal

 

By BARRY ANDERSON

Published on Tuesday 22 January 2013 12:00

 

HEARTS today launched a new partnership with Leslie Deans & Co solicitors encouraging supporters to make out a will and look after their estate whilst also contributing to the club.

 

Deansâ?? firm are to give Hearts a percentage of their fees for arranging fansâ?? wills, whilst those with no-one to leave their estate to will be given the option to bequeath it to the Edinburgh club.

 

â??Many people in this country donâ??t have wills,â? explained Deans. â??Iâ??m a senior partner at a firm of solicitors who do various things for clients. One of the things we do is prepare wills for people who want them done. Hearts have launched a promotion to encourage supporters to make a will and we will prepare wills for fans who want to take advantage of the scheme.

 

â??We will charge the normal fee for every will we make and a percentage of that fee will be given to Hearts. The fans making a will through ourselves are actually making a contribution towards Heartsâ?? finances.

 

â??Secondly, we are often asked by clients, especially people who perhaps donâ??t have a spouse or kids, where they could leave their estate. We donâ??t twist peopleâ??s arms because people leave their estates to whom they wish. We are often asked to make suggestions. Some people leave it to their favourite charity.

 

â??We have also been aware of people who want to leave a legacy to their favourite football club.

 

â??This is an opportunity to fans, if they want to do so, to leave a legacy to Hearts and for their money to be used for the clubâ??s financial benefit.â?

 

Anyone looking to take advantage of the scheme can contact Leslie Deans & Co on 0131 667 1900 or visit http://www.lesliedeans.co.uk

 

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