Vladimir Romanov's claims that Hearts are worth £50m are "ridiculous", says St Johnstone owner Geoff Brown.
, believes potential investors could buy almost the whole of Scottish football for such a price.
"Fans often look to a white knight but that is just kidology and short-termism," said Brown.
"It just doesn't work."
Brown also has a warning for those considering getting involved in the Scottish game to make a quick profit.
"That really sickens me, to be honest," he said.
"It's not about money. The only man who has been successful on the business side of things is (former Celtic owner) Fergus McCann.
"He did it exceptionally well. He said what he was going to do and just did it. I have a lot of admiration for what Fergus did.
"There were times when I could have put more money into St Johnstone, but what's the point?
"The club still has to pay players wages and run itself as a business."
Brown held the chairmanship at McDiarmid Park for over 25 years but has now handed over the reigns to his son.
Despite his concerns over short-term ownership though, he believes the game is in good health.
"We are getting some excellent games of football and I don't think we should get away from that," he said.
"A lot of the time we are down on ourselves but the football recently has been very good.
"We don't have the same quality but you can't argue with the excitement."
Brown also welcomed the news of a new five-year £80m television deal with Sky and ESPN but thinks the product may be worth even more.
"The last Sky deal was undervalued I think because of what happened with Setanta but I suppose today it is a reasonable return," he said.
So what of his hopes for the club he loves?
"I'd love us to win a domestic cup and maybe a wee run into Europe," added Brown.
"All that was ever important to me was watching the smiling faces leave this stadium after we had won a game.
"I'd like to think that the continuity and stability of the club is maintained long after I am gone."