Vladimir Romanov
Encyclopedia
Vladimir Nikolayevich Romanov ; born 1947 in Tver Oblast
, Russian SFSR
, USSR) is an ethnic Russian businessman who also holds Lithuania
n citizenship following that country's independence from the Soviet Union. He is chairman of UBIG Investments which is the majority shareholder in Scottish Premier League
football club Hearts
and Lithuanian Basketball League club Žalgiris
. He also controls the Lithuanian
club FBK Kaunas
and the Belarusian Premier League
club FC MTZ-RIPO
. Romanov's principal business interest is a substantial stake in the Lithuanian bank Ūkio bankas
.
Romanov spent his early childhood in Tver Oblast
, before moving with his family to Lithuania
at the age of nine. His father had served in the Red Army
and fought in the Battle of Berlin
, but died when Romanov was just 16. This meant that Romanov was forced to support the rest of the family, which he did by driving a taxi
and selling Western popular music
, including bootleg copies of records
by The Beatles
, Elvis Presley
and The Rolling Stones
. He then served in the Soviet Navy
for six years, including time aboard the K19 submarine
. Romanov later bought the submarine, and invited his fellow crew members to the 2006 Scottish Cup Final
.
Even before the dissolution of the Soviet Union, Romanov had started to make money during the late 1980s through manufacturing. His wealth greatly increased during the early 1990s after state enterprises were sold off to the highest bidder. Romanov was amongst those who founded Ūkio bankas
, which was the first private bank
to be founded in Lithuania. Romanov still has a substantial stake in the bank. Through his private investment group UBIG, Romanov has business interests including aluminium
, textiles
, property and television. These activities are carried out in Lithuania, Ukraine
, Bosnia and Herzegovina
, Belarus
, Russia and Serbia
. His wealth has been variously estimated at £260M
, £300M, and £200M in the 2008 Sunday Times Rich List
.
In 2007 Romanov won a Lithuanian version of Dancing with the Stars
, which is the equivalent of the British show Strictly Come Dancing
. He was paired with professional dance partner Sandra Kniazevičiūtė. Romanov gave the prize money he won from winning the contest to Kniazevičiūtė. Due to the purported lack of artistry in his dance moves and alleged forgery of voting results, Romanov was called Buratino
by the show host Arūnas Valinskas
, a nickname he is now being referred to by his critics in Lithuania.
, like many other Scottish Premier League
clubs, ran into severe financial difficulties during the early part of the 2000s. An assessment by PWC
in the autumn of 2003 found that Hearts, along with four other SPL clubs, was technically insolvent. Dundee
and Livingston
subsequently went into administration
, while Hibs
and Dunfermline
both took drastic measures to balance their finances, cutting their player budgets severely and selling assets.
Vladimir Romanov had shown interest in investing in Scottish football
for some time because he wanted to see whether Lithuanian footballers
could prosper abroad. Scottish football clubs were particularly ripe for takeover due to their weak finances and corporate structures. He made approaches to Dundee United
, Dundee
and Dunfermline
, but these were all rejected. He opened negotiations with the board of directors to invest in Hearts during August 2004. Romanov offered the prospect of the club staying at a redeveloped Tynecastle, which was very attractive to Hearts supporters. Board chairman
George Foulkes
pleaded that the shareholder
s should not scare Romanov away by demanding too much for their shares.
Chief executive
Chris Robinson, who had been the chief proponent of the necessity of selling Tynecastle, agreed at the end of September 2004 to sell his 19.6% stake to Romanov. The sale of Robinson's shares was completed on 2 February 2005 after Romanov made financial guarantees that the club could continue to trade without selling Tynecastle. This sale increased Romanov's stake to 29.9%, giving him effective control of the club. Romanov's takeover was welcomed by a fans representative. Romanov eventually increased his majority share in Hearts to 82%.
Hearts got off to a tremendous start in the 2005–06 season. The team won their first eight league matches under the leadership of George Burley, equalling a club record set in 1914. Despite the great start to the season, Burley was controversially sacked, leading the club to a political, social, and national decline that has yet to be addressed. The club has yet to come anywhere near the short-lived success of Burley. Romanov has been noted for causing controversies in Scottish football
, such as forcing out Steven Pressley
.
basketball
club and Euroleague
participant BC Žalgiris
since May 2009, through Lithuanian bank Ūkio bankas
. He made numerous controversial decisions including sacking head coaches one by one, most famously firing head coach Darius Maskoliūnas
in the middle of LKL finals series, players had to draw their own tactic schemes and making substitutions, which resulted in losses to the rivals Lietuvos Rytas in decisive games. Before 2010–11 season started, Zalgiris have purchased several high profile players and a new head coach. In the first half of the season Zalgiris was consistent, which led to impressive victories in all tournaments. After a positive start that hadn't been seen for years, Vladimir Romanov once again shocked the entire country by firing head coach Aco Petrovic, which resulted in a series of losses and Mirza Begić
's decision to leave the team. During the 2011–12 season, Romanov fired two other Žalgiris coaches – head coach Elias Zouros and his assistant coach.
then advised Romanov that he is ineligible for that office because he was born in Russia.
Tver Oblast
Tver Oblast is a federal subject of Russia . Its administrative center is the city of Tver. From 1935 to 1990, it was named Kalinin Oblast after Mikhail Kalinin. Population: Tver Oblast is an area of lakes, such as Seliger and Brosno...
, Russian SFSR
Russian Soviet Federative Socialist Republic
The Russian Soviet Federative Socialist Republic , commonly referred to as Soviet Russia, Bolshevik Russia, or simply Russia, was the largest, most populous and economically developed republic in the former Soviet Union....
, USSR) is an ethnic Russian businessman who also holds Lithuania
Lithuania
Lithuania , officially the Republic of Lithuania is a country in Northern Europe, the biggest of the three Baltic states. It is situated along the southeastern shore of the Baltic Sea, whereby to the west lie Sweden and Denmark...
n citizenship following that country's independence from the Soviet Union. He is chairman of UBIG Investments which is the majority shareholder in Scottish Premier League
Scottish Premier League
The Scottish Premier League , also known as the SPL , is a professional league competition for association football clubs in Scotland...
football club Hearts
Heart of Midlothian F.C.
Heart of Midlothian Football Club are a Scottish professional football club based in Gorgie, in the west of Edinburgh. They currently play in the Scottish Premier League and are one of the two principal clubs in the city, the other being Hibernian...
and Lithuanian Basketball League club Žalgiris
BC Žalgiris
BC Žalgiris is a professional basketball team that is based in Kaunas, Lithuania. It is one of the oldest teams in the Euroleague and plays domestically in the Lietuvos krepšinio lyga , and regionally in the VTB United League...
. He also controls the Lithuanian
A Lyga
The A Lyga is the top division of professional football in Lithuania. It is organized by LFF . League size has varied between 8 and 12 teams over the past few years; for its 2011 season, the league features 12 teams...
club FBK Kaunas
FBK Kaunas
Kauno futbolo beisbolo klubas is a Lithuanian football club from the city of Kaunas, that currently plays in the A Lyga, the top level of Lithuanian football.- History :...
and the Belarusian Premier League
Belarusian Premier League
-Soviet era champions:*1934 BVO *1935 BVO *1936 BVO *1937 Dinamo *1938 Dinamo *1939 Dinamo *1940 DKA *1941-44 unknown...
club FC MTZ-RIPO
FC MTZ-RIPO
FC Partizan Minsk is a Belarusian Premier League football team, part of Russian-Lithuanian businessman Vladimir Romanov's soccer holding which also includes Scottish Premier League club Hearts and Lithuanian A Lyga champion FBK Kaunas...
. Romanov's principal business interest is a substantial stake in the Lithuanian bank Ūkio bankas
Ukio Bankas
Ūkio Bankas is a Lithuanian commercial bank based in Kaunas. More than 50% of shares are owned by Lithuanian businessman Vladimir Romanov who therefore is in the control of the bank. It is the fifth largest and oldest private bank in Lithuania...
.
Life outside football
Tver Oblast
Tver Oblast is a federal subject of Russia . Its administrative center is the city of Tver. From 1935 to 1990, it was named Kalinin Oblast after Mikhail Kalinin. Population: Tver Oblast is an area of lakes, such as Seliger and Brosno...
, before moving with his family to Lithuania
Lithuania
Lithuania , officially the Republic of Lithuania is a country in Northern Europe, the biggest of the three Baltic states. It is situated along the southeastern shore of the Baltic Sea, whereby to the west lie Sweden and Denmark...
at the age of nine. His father had served in the Red Army
Red Army
The Workers' and Peasants' Red Army started out as the Soviet Union's revolutionary communist combat groups during the Russian Civil War of 1918-1922. It grew into the national army of the Soviet Union. By the 1930s the Red Army was among the largest armies in history.The "Red Army" name refers to...
and fought in the Battle of Berlin
Battle of Berlin
The Battle of Berlin, designated the Berlin Strategic Offensive Operation by the Soviet Union, was the final major offensive of the European Theatre of World War II....
, but died when Romanov was just 16. This meant that Romanov was forced to support the rest of the family, which he did by driving a taxi
Taxicab
A taxicab, also taxi or cab, is a type of vehicle for hire with a driver, used by a single passenger or small group of passengers, often for a non-shared ride. A taxicab conveys passengers between locations of their choice...
and selling Western popular music
Popular music
Popular music belongs to any of a number of musical genres "having wide appeal" and is typically distributed to large audiences through the music industry. It stands in contrast to both art music and traditional music, which are typically disseminated academically or orally to smaller, local...
, including bootleg copies of records
Bootleg recording
A bootleg recording is an audio or video recording of a performance that was not officially released by the artist or under other legal authority. The process of making and distributing such recordings is known as bootlegging...
by The Beatles
The Beatles
The Beatles were an English rock band, active throughout the 1960s and one of the most commercially successful and critically acclaimed acts in the history of popular music. Formed in Liverpool, by 1962 the group consisted of John Lennon , Paul McCartney , George Harrison and Ringo Starr...
, Elvis Presley
Elvis Presley
Elvis Aaron Presley was one of the most popular American singers of the 20th century. A cultural icon, he is widely known by the single name Elvis. He is often referred to as the "King of Rock and Roll" or simply "the King"....
and The Rolling Stones
The Rolling Stones
The Rolling Stones are an English rock band, formed in London in April 1962 by Brian Jones , Ian Stewart , Mick Jagger , and Keith Richards . Bassist Bill Wyman and drummer Charlie Watts completed the early line-up...
. He then served in the Soviet Navy
Soviet Navy
The Soviet Navy was the naval arm of the Soviet Armed Forces. Often referred to as the Red Fleet, the Soviet Navy would have played an instrumental role in a Warsaw Pact war with NATO, where it would have attempted to prevent naval convoys from bringing reinforcements across the Atlantic Ocean...
for six years, including time aboard the K19 submarine
Soviet submarine K-19
K-19, KS-19, BS_19 was one of the first two Soviet submarines of the 658, 658м, 658с class , the first generation nuclear submarine equipped with nuclear ballistic missiles, specifically the R-13 . Its keel was laid down on 17 October 1958, christened on 8 April 1959 and launched on 11 October 1959...
. Romanov later bought the submarine, and invited his fellow crew members to the 2006 Scottish Cup Final
2006 Scottish Cup Final
The 2006 Scottish Cup Final was played on 13 May 2006 at Hampden Park in Glasgow and was the final of the 120th Scottish Cup. The final was contested by Heart of Midlothian , who beat Hibernian 4–0 in the semi-final, and Gretna, who beat Dundee 3–0....
.
Even before the dissolution of the Soviet Union, Romanov had started to make money during the late 1980s through manufacturing. His wealth greatly increased during the early 1990s after state enterprises were sold off to the highest bidder. Romanov was amongst those who founded Ūkio bankas
Ukio Bankas
Ūkio Bankas is a Lithuanian commercial bank based in Kaunas. More than 50% of shares are owned by Lithuanian businessman Vladimir Romanov who therefore is in the control of the bank. It is the fifth largest and oldest private bank in Lithuania...
, which was the first private bank
Private banking
Private banking is banking, investment and other financial services provided by banks to private individuals investing sizable assets. The term "private" refers to the customer service being rendered on a more personal basis than in mass-market retail banking, usually via dedicated bank advisers...
to be founded in Lithuania. Romanov still has a substantial stake in the bank. Through his private investment group UBIG, Romanov has business interests including aluminium
Aluminium smelting
Aluminium smelting is the process of extracting aluminium from its oxide alumina, generally by the Hall-Héroult process. Alumina is extracted from the ore Bauxite by means of the Bayer process at an alumina refinery....
, textiles
Textile manufacturing
Textile manufacturing is a major industry. It is based in the conversion of three types of fibre into yarn, then fabric, then textiles. These are then fabricated into clothes or other artifacts. Cotton remains the most important natural fibre, so is treated in depth...
, property and television. These activities are carried out in Lithuania, Ukraine
Ukraine
Ukraine is a country in Eastern Europe. It has an area of 603,628 km², making it the second largest contiguous country on the European continent, after Russia...
, Bosnia and Herzegovina
Bosnia and Herzegovina
Bosnia and Herzegovina , sometimes called Bosnia-Herzegovina or simply Bosnia, is a country in Southern Europe, on the Balkan Peninsula. Bordered by Croatia to the north, west and south, Serbia to the east, and Montenegro to the southeast, Bosnia and Herzegovina is almost landlocked, except for the...
, Belarus
Belarus
Belarus , officially the Republic of Belarus, is a landlocked country in Eastern Europe, bordered clockwise by Russia to the northeast, Ukraine to the south, Poland to the west, and Lithuania and Latvia to the northwest. Its capital is Minsk; other major cities include Brest, Grodno , Gomel ,...
, Russia and Serbia
Serbia
Serbia , officially the Republic of Serbia , is a landlocked country located at the crossroads of Central and Southeast Europe, covering the southern part of the Carpathian basin and the central part of the Balkans...
. His wealth has been variously estimated at £260M
Million
One million or one thousand thousand, is the natural number following 999,999 and preceding 1,000,001. The word is derived from the early Italian millione , from mille, "thousand", plus the augmentative suffix -one.In scientific notation, it is written as or just 106...
, £300M, and £200M in the 2008 Sunday Times Rich List
Sunday Times Rich List
The Sunday Times Rich List is a list of the 1,000 wealthiest people or families in the United Kingdom, updated annually in April and published as a magazine supplement by British national Sunday newspaper The Sunday Times since 1989...
.
In 2007 Romanov won a Lithuanian version of Dancing with the Stars
Dancing with the Stars
Dancing with the Stars is the name of several international television series based on the format of the British TV series Strictly Come Dancing, which is distributed by BBC Worldwide – the commercial arm of the BBC. Currently the format has been licensed to over 35 countries...
, which is the equivalent of the British show Strictly Come Dancing
Strictly Come Dancing
Strictly Come Dancing is a British television show, featuring celebrities with professional dance partners competing in Ballroom and Latin dances. The title of the show suggests a continuation of the long-running series Come Dancing, with an allusion to the film Strictly Ballroom...
. He was paired with professional dance partner Sandra Kniazevičiūtė. Romanov gave the prize money he won from winning the contest to Kniazevičiūtė. Due to the purported lack of artistry in his dance moves and alleged forgery of voting results, Romanov was called Buratino
Buratino
Buratino is the main character of the book The Golden Key, or the Adventures of Buratino by Aleksey Nikolayevich Tolstoy. Based on the 1883 novel The Adventures of Pinocchio by Carlo Collodi, Buratino originated as a character in the commedia dell'arte. The name Buratino is derived from the...
by the show host Arūnas Valinskas
Arunas Valinskas
Arūnas Valinskas is a Lithuanian politician. He was speaker of the Seimas...
, a nickname he is now being referred to by his critics in Lithuania.
Ownership of Hearts
HeartsHeart of Midlothian F.C.
Heart of Midlothian Football Club are a Scottish professional football club based in Gorgie, in the west of Edinburgh. They currently play in the Scottish Premier League and are one of the two principal clubs in the city, the other being Hibernian...
, like many other Scottish Premier League
Scottish Premier League
The Scottish Premier League , also known as the SPL , is a professional league competition for association football clubs in Scotland...
clubs, ran into severe financial difficulties during the early part of the 2000s. An assessment by PWC
PricewaterhouseCoopers
PricewaterhouseCoopers is a global professional services firm headquartered in London, United Kingdom. It is the world's largest professional services firm measured by revenues and one of the "Big Four" accountancy firms....
in the autumn of 2003 found that Hearts, along with four other SPL clubs, was technically insolvent. Dundee
Dundee F.C.
Dundee Football Club, founded in 1893, are a football club based in the city of Dundee, Scotland. They are nicknamed The Dee or The Dark Blues and play their home matches at Dens Park. Their shirt colour is dark blue. Dundee currently play in the Scottish First Division, having been relegated from...
and Livingston
Livingston F.C.
Livingston Football Club is a Scottish association football club based in Livingston, West Lothian. The club currently plays in the Scottish Football League First Division.The club was founded in 1943 as Ferranti Thistle, a works team...
subsequently went into administration
Administration (insolvency)
As a legal concept, administration is a procedure under the insolvency laws of a number of common law jurisdictions. It functions as a rescue mechanism for insolvent entities and allows them to carry on running their business. The process – an alternative to liquidation – is often known as going...
, while Hibs
Hibernian F.C.
Hibernian Football Club are a Scottish professional football club based in Leith, in the north of Edinburgh. They are one of two Scottish Premier League clubs in the city, the other being their Edinburgh derby rivals, Hearts...
and Dunfermline
Dunfermline Athletic F.C.
Dunfermline Athletic Football Club are a Scottish football team based in Dunfermline, Fife, commonly known as just Dunfermline. They currently compete in the Scottish Premier League....
both took drastic measures to balance their finances, cutting their player budgets severely and selling assets.
Vladimir Romanov had shown interest in investing in Scottish football
Football in Scotland
Association football is the national sport in Scotland and highly popular throughout the country. There is a long tradition of "football" games in Orkney, Lewis and southern Scotland, especially the Scottish Borders, although many of these include carrying the ball and passing by hand, and despite...
for some time because he wanted to see whether Lithuanian footballers
Football in Lithuania
Football is the second sport in Lithuania where basketball is the national sport. The former Soviet republic made their entrance as an independent football nation in 1992. In the qualification for the Euro 2004. Lithuania held Germany to a 1-1 draw in Germany and won against Scotland...
could prosper abroad. Scottish football clubs were particularly ripe for takeover due to their weak finances and corporate structures. He made approaches to Dundee United
Dundee United F.C.
Dundee United Football Club is a Scottish professional football club located in the city of Dundee. Formed in 1909, originally as Dundee Hibernian, the club changed to the present name in 1923...
, Dundee
Dundee F.C.
Dundee Football Club, founded in 1893, are a football club based in the city of Dundee, Scotland. They are nicknamed The Dee or The Dark Blues and play their home matches at Dens Park. Their shirt colour is dark blue. Dundee currently play in the Scottish First Division, having been relegated from...
and Dunfermline
Dunfermline Athletic F.C.
Dunfermline Athletic Football Club are a Scottish football team based in Dunfermline, Fife, commonly known as just Dunfermline. They currently compete in the Scottish Premier League....
, but these were all rejected. He opened negotiations with the board of directors to invest in Hearts during August 2004. Romanov offered the prospect of the club staying at a redeveloped Tynecastle, which was very attractive to Hearts supporters. Board chairman
Chair (official)
The chairman is the highest officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office is typically elected or appointed by the members of the group. The chairman presides over meetings of the assembled group and conducts its business in an...
George Foulkes
George Foulkes, Baron Foulkes of Cumnock
George Foulkes, Baron Foulkes of Cumnock, PC is a British Labour Party life peer. He has been a member of the House of Commons, the House of Lords and the Scottish Parliament...
pleaded that the shareholder
Shareholder
A shareholder or stockholder is an individual or institution that legally owns one or more shares of stock in a public or private corporation. Shareholders own the stock, but not the corporation itself ....
s should not scare Romanov away by demanding too much for their shares.
Chief executive
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
Chris Robinson, who had been the chief proponent of the necessity of selling Tynecastle, agreed at the end of September 2004 to sell his 19.6% stake to Romanov. The sale of Robinson's shares was completed on 2 February 2005 after Romanov made financial guarantees that the club could continue to trade without selling Tynecastle. This sale increased Romanov's stake to 29.9%, giving him effective control of the club. Romanov's takeover was welcomed by a fans representative. Romanov eventually increased his majority share in Hearts to 82%.
Hearts got off to a tremendous start in the 2005–06 season. The team won their first eight league matches under the leadership of George Burley, equalling a club record set in 1914. Despite the great start to the season, Burley was controversially sacked, leading the club to a political, social, and national decline that has yet to be addressed. The club has yet to come anywhere near the short-lived success of Burley. Romanov has been noted for causing controversies in Scottish football
Football in Scotland
Association football is the national sport in Scotland and highly popular throughout the country. There is a long tradition of "football" games in Orkney, Lewis and southern Scotland, especially the Scottish Borders, although many of these include carrying the ball and passing by hand, and despite...
, such as forcing out Steven Pressley
Steven Pressley
Steven John "Elvis" Pressley is a retired Scottish footballer, who is now the manager of Scottish First Division club Falkirk. Pressley had a long playing career, playing for both halves of the Old Firm and making over 100 league appearances for both Dundee United and Hearts...
.
Ownership of Žalgiris Kaunas
Romanov is the owner of the Lithuanian Premier LeagueLietuvos Krepšinio Lyga
The Lietuvos krepšinio lyga is Lithuania's premier professional men's basketball league, composed of 12 teams.- History :...
basketball
Basketball
Basketball is a team sport in which two teams of five players try to score points by throwing or "shooting" a ball through the top of a basketball hoop while following a set of rules...
club and Euroleague
Euroleague
Euroleague Basketball, commonly known as the Euroleague, is the highest level tier and most important professional club basketball competition in Europe, with teams from up to 18 different countries, members of FIBA Europe. For sponsorship reasons, for five seasons starting with 2010–2011, it is...
participant BC Žalgiris
BC Žalgiris
BC Žalgiris is a professional basketball team that is based in Kaunas, Lithuania. It is one of the oldest teams in the Euroleague and plays domestically in the Lietuvos krepšinio lyga , and regionally in the VTB United League...
since May 2009, through Lithuanian bank Ūkio bankas
Ukio Bankas
Ūkio Bankas is a Lithuanian commercial bank based in Kaunas. More than 50% of shares are owned by Lithuanian businessman Vladimir Romanov who therefore is in the control of the bank. It is the fifth largest and oldest private bank in Lithuania...
. He made numerous controversial decisions including sacking head coaches one by one, most famously firing head coach Darius Maskoliūnas
Darius Maskoliūnas
Darius Maskoliūnas ; born January 6, 1971) is a former Lithuanian professional basketball player. Now basketball coach, politician.Since January 6, 2007 was an assistant coach at Žalgiris Kaunas...
in the middle of LKL finals series, players had to draw their own tactic schemes and making substitutions, which resulted in losses to the rivals Lietuvos Rytas in decisive games. Before 2010–11 season started, Zalgiris have purchased several high profile players and a new head coach. In the first half of the season Zalgiris was consistent, which led to impressive victories in all tournaments. After a positive start that hadn't been seen for years, Vladimir Romanov once again shocked the entire country by firing head coach Aco Petrovic, which resulted in a series of losses and Mirza Begić
Mirza Begić
Mirza Begić is a Slovenian professional basketball player of Bosnian origin. He is 7 ft 3 in tall and he can play at Center. He is currently playing with the pro club Real Madrid in Spain.-Pro career:Begić began his career playing with the Sloboda Dita Tuzla in Bosnia and Herzegovina...
's decision to leave the team. During the 2011–12 season, Romanov fired two other Žalgiris coaches – head coach Elias Zouros and his assistant coach.
Politics
On 12 March 2009, Romanov announced that he intended to stand for election to become President of Lithuania. The Lithuanian electoral commissionElection management body
An election management body or EMB is the authority in a nation charged with administering the electoral process. EMBs can be independent, mixed, judicial or governmental. The EMB may also be responsible for electoral boundary delimitation...
then advised Romanov that he is ineligible for that office because he was born in Russia.