Hearts FC Shares Takeover

Vladimir Romanov moved closer to taking control of Scottish football team Hearts FC at the weekend, following two major shareholders decision to sell their shares in the club.

Romanov, the current majority shareholder, will increase his stake after Robert McGrail and Leslie Deans decided to sell their shares. The Lithuanian will also take control of the Hearts shares owned by the Halifax Bank of Scotland and Scottish Media Group, raising his stake from 29 percent to 55.5 percent.

After sacking CEO Phil Anderton last week and seeing chairman George Foulkes resign, Romanov now intends to reach the 75 percent share ownership target that will allow him to delist Heart of Midlothian from the London Stock Exchange.

The shares owned by McGrails and Deans makeup 18 percent of the club, which will move Romanov just short of his stake target.

Hearts FC are just one in a long line of football clubs to recently be subject of a takeover, with speculation now rising that Arsenal, Newcastle and Aston Villa will be the next teams to follow.

Date: 07.11.05

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