Vladimir Romanov resigns from Zalgiris

Vladimir Romanov has resigned from his position as chairman and from the board of Lithuanian basketball team, Zalgiris Kaunas. It does not come as a complete surprise. The bombastic owner of the ball club had been experiencing financial difficulties in recent times and even asked support from fans via the team’s official website.

Romanov has been a controversial figure in Lithuanian basketball ever since he saved the team from bankruptcy in 2009. He  fired coaches in the middle of a championship series. He also allegedly prescribed players’ playing times to his coaches. At this point, the era of his somewhat frustrating albeit colorful micromanagement has come to an end.

The board of the team has made the official announcement regarding his resignation and asks that the public remain patient while awaiting more information on the matter.

“In order to protect the team, its coaches and players from unnecessary speculation on this topic, the board strongly requests patience. The required information will be provided once a final decision is made.”

His financial problems with Ukio Bankas, where he has a 65% stake, even led to players not receiving salaries. With such heavy burdens upon him, his divestiture from Zalgiris would seem to be a likely outcome.