Hearts majority shareholder Vladimir Romanov insists he has no intention of selling the club.
A consortium of Edinburgh businessmen are reportedly planning a takeover bid in an effort to see the Edinburgh outfit back under Scottish control.
But Lithuanian Romanov has warned them they would be wasting their time and money attempting to gain control of Hearts.
His spokesman told the Scottish Daily Mail: 'Any offer has not been received by Vladimir Romanov.
'And it will not be welcomed because he has no interest in selling the club.
'There is no concept of him walking away - he is committed to making a success of the whole project.'