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.
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."