ascender 352 Posted February 6, 2007 Share Posted February 6, 2007 Tynecastle debt rises to �£28.4m Valdimir Romanov Debt has risen since Vladimir Romanov took charge at Hearts Hearts have notified shareholders that the club debt has risen by �£6.9m to �£28.4m in the last year. In majority shareholder Vladimir Romanov's first year in charge, the club has posted losses of �£5.2m for the year to the end of July 2006. Salary costs at Tynecastle have doubled to �£10m, up from around �£5m the previous year. Just wondering, what is our current debt and what's our wage bill looking like now? If I was a Jambo, those figures would scare the living daylights out of me. Even moreso when they probably only have Craig Gordon who could now command a decent transfer fee and they're out of the cup as well. Are they not in danger of a downward spiral out of control now? 0 Quote Link to post Share on other sites More sharing options...
Gribz 850 Posted February 6, 2007 Share Posted February 6, 2007 Crikey, there debt is about 20 million more than ours!!! That is scary for a club like Hearts!!! 0 Quote Link to post Share on other sites More sharing options...
Wija 0 Posted February 6, 2007 Share Posted February 6, 2007 Hope they go under - junkie fuckers! 0 Quote Link to post Share on other sites More sharing options...
craig 5,199 Posted February 6, 2007 Share Posted February 6, 2007 They aren't in danger as long as Vlad keeps the loans going and as long as he retains interest. He has a boat load of money so that isn't an issue. Hearts are in the same potential predicament Chelsea are in - a very rich owner who is putting their financial wellbeing under pressure but is bank-rolling it - if he decides he has had enough Hearts, like Chelsea, would then be in the shit ! 0 Quote Link to post Share on other sites More sharing options...
ascender 352 Posted February 6, 2007 Author Share Posted February 6, 2007 Yes, that's the thing, that so long as Vlad is there, it doesn't really matter as he owns the bank who are underwriting the debt. I guess its kind of like DM, where he could get rid of the debt by transferring it to other companies. But I don't understand his business plan. They're talking about a new stand at Tynecastle, but how are they going to fill it when their team seems to be getting weaker after every transfer window? They missed a great chance last season to finally challenge for the title when Burley was in charge. I also think they've missed a great chance this year to open up a lead on us for second place. From here on in, I think we'll get stronger which kind of makes you wonder what Vlad hopes to achieve on the pitch with Hearts? 0 Quote Link to post Share on other sites More sharing options...
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