R.H.S.C. NEWSLETTER - January 2008R.H.S.C. NEWSLETTER - January 2008
As you are aware the Federation of Hearts Supporters Clubs have been seeking a meeting with Vladimir Romanov for over a
year now. Earlier this week, this meeting took place.
Here is the main questions that were asked and the response.
Q) What is the up to date position regarding the appointment of a new Manager and can you give assurances that he will have
full autonomy on team matters?
A) We are going through a short list at the moment but do not want to commit to any deadlines as it is important to make
the correct appointment. We are looking for a Manager with a good knowledge of British football, strong tactically and
who can prepare and pick the strongest team. He will have full control over all team matters in terms of selection, tactics,
transfer activity and discipline.
Q) If a Manager is not appointed within the current transfer window, will you trust and follow up on Steven Frail’s
recommendations regarding transfer targets?
A) Yes
Q) Do you agree that there is too much quantity at Tynecastle and not enough quality and that this is stifling the progress of
younger players development?
A) Agreed but Coaching staff in the past saw the situation as three players for each position to keep them fresh but realise that
this is not working. Youngsters are our future and I am really happy with the development of Berra, Elliott and
Wallace (he learned so much from Fyssas). We need more Scottish young players in the team. Lets not be disappointed and
lets not lose belief.
Q) What do you regard as success for the rest of this season?
A) We must be up nearer the top end of the table as soon as possible but there is no prediction as to where we will finish
We also have two Cup competitions to try to win.
Q) What is the up to date position regarding the development of the new stand?
A) Formal planning application will be submitted to the City of Edinburgh Council on Wednesday of this week.
The new two tier 10,000 seat structure will incorporate administration offices, commercial office space, residential apartments
and state of the art conference and banqueting facilities. There will also be leisure facilities, hotels, bars, restaurants,
a gymnasium and a new club store built on the site.
Q) How will the development of the Main Stand be financed? Will any debt be added to Heart of Midlothian Football Club’s
balance sheet or will the project be financed by UBIG? If the latter, will ownership of the Stadium or just the new buildings
transfer to UBIG?
A) The debt for the development of the Main Stand will be added to the Club’s existing debt however this should not be a
concern to supporters as there will be no problem with us dealing with this situation. Trust us to deliver.
Q) At Annual General Meetings we have been told that we should not be concerned about the Club’s debt as it is to other group
companies. Our understanding is that the majority shareholding in HMFC is held by UBIG, an unquoted company.
According to the Offer Document for the takeover of HMFC, your shareholding is 70.05% of UBIG. However, the debt, as
of last year’s accounts, is split between UBIG and Ukio Bankas. The latter is quoted and although you are the largest
shareholder, you own less than half of the shares. Can we be sure that the other shareholders in Ukio Bankas are happy
with its exposure to HMFC?
A) There is no need whatsoever to worry about the level of debt. We will be doing everything we can to cover the debt,
we are comfortable with the figures, and there is no problem with the other shareholders in Ukio Bankas.
Lithuania Central Bank will ensure that we hold within our limit and we are protected with my shares and the rest of my wealth.
Q) Can you categorically deny the rumors that HMFC / Ukio Bankas are set for administration?
A) I can categorically deny that this is not the case.
Q) While development of the new stand is taking place, where do you see the Club playing?
A) Remaining at Tynecastle with three stands is an option as is Murrayfield for a short period of time. Tynecastle would be
like a building site and there would be health and safety issues but Easter Road would not be an option. Senior Club
officials are investigating possibilities at the moment.
Q) Where do you see the Club in 5 years time?
A) I hope that I can be successful in attracting more investors into smaller teams, as more competition for us to win the League.
Q) We have noticed that neither yourself nor Roman have been attending matches at Tynecastle.
Is there any particular reason for this?
A) This has been due to my other business commitments. At the beginning I had to be there more often to see how the Club
operates however I have Senior Management staff at Tynecastle looking after the various operations now. At the moment
I need to concentrate on the appointment of a new Manager as this is more important than me being there. I can still ‘believe’
even if I am not there so often. I take the point about Roman. At some stage someone will be in his position but I do not see
that person yet.
Scottish Cup Replay
Tuesday 22nd January is the Scottish Cup replay vs Motherwell at Fir Park, Kick Off 7.45pm. Tickets are available now from
Tynecastle priced at £12 and £8. You can also book your seat on the bus now by phoning Lynda. The bus leaves the Rainbow at 6.15pm.
Forthcoming Buses
You can book seats on the following buses by phoning Lynda.
Aberdeen (26th January), bus leaves the Rainbow at 11am.
Celtic (16th February), bus leaves the Rainbow at 1pm.
CIS Insurance Cup Semi-Final
The bus to Hampden on Wednesday 30th January is now FULL. The bus will leave the Rainbow at 5:30pm.
Please be aware that failure to turn up on the day, will result in you being charged for the seat(s) that you have booked as per the club's
constitution.
Federation of Hearts Supporters Clubs - Raffle Tickets
Please also note that all raffle tickets need to be back to the club no later than the cup semi-final on 30th January.
Yours in sport
Boise Allan
Secretary
Rainbow Hearts Supporters Club