Hearts have rejected a formal takeover approach from the son of former Liverpool owner George Gillett, chairman Ann Budge has confirmed.
Foster Gillett, who was on the board at Anfield, contacted Budge through a third party last week with a view to buying a controlling interest.
The Colorado businessman was linked with Derby County late last year.
“My plan has always been to hand the club over to supporters and nothing has changed,” Budge told BBC Scotland.
“Right now, the club needs stability.”
As it stands, Hearts have been relegated from the Scottish Premiership and are relying on a reconstruction plan to prevent them spending next season outside the top flight.
Gillett is one of several parties in recent times to contact Hearts about potentially buying a stake in the club.
However Budge, who helped rescue the Edinburgh outfit from administration in 2014, has a commitment to the Foundation of Hearts fans group which would prevent her selling her shares.