Hearts director Sergejus Fedotovas hopes the club can finalise the return of Paul Hartley in the coming days.
Hartley is available for free from Bristol City and Fedotovas has spoken with the 33-year-old about a prospective Hearts return.
SPL rivals Aberdeen have expressed an interest in the 33-year-old, who had two years with Celtic after leaving Tynecastle in 2007.
Hartley spent last season in the Championship with The Robins, but has been allowed to leave Ashton Gate to be nearer his family.
Fedotovas is now awaiting approval from the club's parent company, Ukio Bankas Investment Group, to proceed with the transfer.
"We are finalising the approval process for signing Paul Hartley so I hope that we will be able to sign the player in the near future," he told the Evening News.
"I think that, in the next day or two, this will be absolutely clear and we will be given the green light to go ahead with this signing, which I hope we will be able to make.
"I understand that he is very popular with the fans, but we still need to wait a little bit to find out the possibilities.
"Generally, amongst the board there is support for this move so we need to formalise a few things and wait a few days for a final decision."