Hearts are in talks with Brighton owner Tony Bloom over a potential £10m investment in the Scottish Premiership club.
The proposal is centred around Hearts using Bloom's analytical company for player identification and recruitment.
If negotiations - which have been going on for months - are successful, Bloom would become a minority stakeholder in Hearts.
- Ref Watch: Hearts & Celtic controversy analysed
- Edinburgh derby to be shown live on Sky Sports
- Boyd and Sutton predict final Scottish Premiership table!
- Stream Scottish Premiership with NOW | Download the Sky Sports App
The Edinburgh club are owned by its supporters through the Foundation of Hearts and any deal would need approval from 90 per cent of its members.
Bloom's Starlizard sport analysis company are used by Premier League club Brighton, plus Union Saint-Gilloise after Bloom purchased the Belgian club in 2018, before selling shares to meet UEFA's multi-club ownership rules.
In February, Hearts' rivals Hibernian revealed they had accepted a £6m investment from Bournemouth chairman Bill Foley and the Black Knight Group, for a 25 per cent stake.
The Easter Road club turned down other offers - including takeover bids - before proceeding with Foley.
When asked if some of those options could yet invest in another Scottish Premiership club and potentially prove to be influential, Hibs executive director Ian Gordon told Sky Sports News: "That might happen, but ultimately it's about Hibs and growing Hibs to be the best version of itself.
"Me and my family always have the club's best interests at heart. And when we make these decisions, it's always with Hibs on the front of our mind."
Boyd: Hearts could challenge Old Firm
Sky Sports' Kris Boyd:
"That's an interesting one for Scottish football. A lot of people will look to Tony Bloom and Brighton and look at the recruitment there.
"With recruitment, you can't look at Hearts and say they'll be on the same page as Brighton but you can look at Union Saint-Gilloise in Belgium. They've come up from the first division under Tony Bloom and caused problems to bigger teams.
"If I was Rangers and Celtic, I'd be worried by these talks.
"Tony Bloom is a shrewd, shrewd man. Look at the job he is doing at Brighton and his influence at Union Saint-Gilloise.
"If I'm Hearts, I'm biting your hand off. They are an attractive club but their recruitment can be better.
"The recruitment from the clubs Bloom is already involved in is excellent. There is potential at Hearts to go challenge Rangers and Celtic - this could be a big thing for Scottish football."
Scottish Premiership & SWPL on Sky Sports
Sky Sports - From 2024/25 up to 60 Scottish Premiership games will be available across Sky Sports' flagship channels, including Sky Sports Football and Sky Sports Main Event, plus at least five SWPL matches.
Sky Sports News - Running 24 hours a day, seven days a week, Scottish football fans can enjoy Sky Sports News' (channel 409) rolling editorial coverage of the Premiership and SWPL throughout the season.
Sky Sports Digital - Follow all the latest from Scottish football across SkySports.com and app, including exclusive features and interviews, plus dedicated live blog coverage, in-game clips from matches live on Sky Sports and free highlights.
Sky Sports Social - Alongside coverage and visibility for the league across all Sky Sports' main social media channels, the bespoke X page @ScotlandSky will continue to be the home of all Scottish football content on Sky Sports.
Highlights show - Tune in for a dedicated round-up from the cinch Premiership every week on Sky Sports Football.
Sky Sports is the home of domestic football in the UK and Ireland, with action from the Scottish Premiership, Scottish Women's Premier League, Premier League, WSL, EFL, and more.
Ad content | Stream Sky Sports on NOW
Stream Sky Sports live with no contract on a Month or Day membership on NOW. Instant access to live action from the Scottish Premiership, Premier League, EFL, F1 and so much more.