It has been eight years since Vladimir Romanov first entered the portals of Tynecastle. Here are the key dates:

2005 - January 29: Hearts' board approves Vladimir Romanov's investment, allowing him to eventually secure 80 per cent of club shares and control of the Jambos.

2006: A series of managers are hired and fired by Romanov as Hearts qualify for the Champions League.

2010 - May 3: Hearts reveal club debt has risen to just under £35million - an increase of £5million in the space of a year.

2012 - April 16: Hearts admit players will not be paid on time just four months after December wages appear late.

May 19: City rivals Hibernian are humiliated with a 5-1 defeat in the final of the William Hill Scottish Cup as Hearts clinch the trophy for second time in six years after 2006 final's triumph over Gretna.

October 22: The Jambos are hit with a transfer embargo by the SPL after six players and manager John McGlynn receive their October wages six days late.

November 7: Hearts confirm they have been served with a winding-up order over a tax bill of almost £450,000.

December 3: The tax bill is settled after the Hearts support raise more than £1million through a share issue, staving off the winding-up order. Repayment plan for a second tax bill worth £1.5million is also agreed with HMRC.

December 20: The SPL place the Tynecastle outfit under an "indefinite transfer embargo" over the failure to make bonus payments to their players following their Scottish Cup win in May.

2013 - January 17: The SPL lifts the transfer embargo placed on Hearts after they pay January wages on time - but rules they will only be able to sign under-21 players on a one in, one out basis.

March 5: Romanov's decision to resign from the board of UBIG, the company which holds a majority stake in Hearts, following the collapse of Ukio Bankas sparks speculation that Russian may also surrender control of Hearts.

May 18: Hearts are spared immediate relegation from the top flight after the SPL announces Hearts will not be subjected to an immediate points deduction after concluding an insolvency event had not occurred at the club's majority shareholder UBIG.

June 4: The club is again forced to downplay administration fears after reports of another £100,000 tax dispute with HMRC.

June 12: The administrator of Ukio Bankas says he has "no reason or desire to harm Hearts" after a court in Lithuania upholds a decision to liquidate the bank.

June 13: Club announces that all their players are up for sale as fears for their future enters a "critical" period.

June 14: SPL confirms Jambos fail to pay "a number" of their players their July wages and hit them with an immediate transfer embargo.

June 17: Hearts confirm they have served Court of Session with intention to appoint administrators.