Hearts have turned down a takeover bid from the son of former Liverpool supremo George Gillett.
Owner Ann Budge has revealed she rejected the move from Foster Gillett, insisting the club does not need a period of upheaval.
She insists her intention remains to honour the commitment to hand the Tynecastle reins over to supporters' group the Foundation of Hearts.
It follows the club backing away from takeover talks with Barnsley chief Paul Conway in March.
Gillett, who was also on the board at Anfield, has previously been linked with a takeover at English Championship outfit Derby County.
But Budge told BBC Scotland on Thursday: "My plan has always been to hand the club over to supporters and nothing has changed.
"Right now, the club needs stability."
Hearts already face an uncertain future as Budge awaits her SPFL counterparts' verdict on the league reconstruction plan which would save her club from the drop.
The Jambos have, as things stand, been condemned to life in the Championship after the coronavirus pandemic after clubs voted to end the Premiership campaign early.
Budge has put forward an altered 14-14-14 SPFL setup, which would initially be in place for two years.
Starting with top-tier clubs on Monday, league chief executive Neil Doncaster will hold divisional meetings to discuss her vision for Scottish football's future.
