Hearts have asked supporters to help safeguard the club's future by investing in a share offer that has seen them hit by a transfer embargo for failing to pay their players on time.
The Scottish Cup winners claim that - if fully subscribed - the share offer, which opens on Saturday, could raise up to £1.79million with supporters taking control of 10 per cent of the club's shares.
Hearts director Sergejus Fedotovas believes the offer could lead to supporter ownership in future. Fedotovas said on www.heartsfc.co.uk: "It is a very important moment in Hearts' history where supporters are invited to express their interest and secure the future of the club.
"Now Hearts needs its supporters more than ever and we count on this appeal being heard and supported. If this first share offer is successful we believe that future proposals could be considered that may eventually allow for Hearts supporters to take over the club entirely. Every pound raised by supporters, after costs, will be reinvested into the club and we expect that this will be a popular offer."
Hearts were this week issued with a player registration embargo of 60 days, until December 23, by the Scottish Premier League after admitting to failing to pay all of their players and staff on schedule for September and October.
Finances have been tight at Tynecastle since majority shareholder Vladimir Romanov revealed he was disillusioned with football and four times last season wages were delivered late.
The share offer opens on Saturday morning, ahead of the Clydesdale Bank Premier League clash with Ross County at Tynecastle and revenue will be used "in meeting general working capital requirements".
In a statement, Hearts said: "UBIG, the Lithuanian conglomerate chaired by Vladimir Romanov and the majority shareholder in Hearts, has approved the offer by the 2012 William Hill Scottish Cup winners that could see the supporters of the club control over 10 per cent of the total shares.
"The share offer is the first that provides supporters at Hearts with a chance to invest in the club since the takeover by UBIG in 2005. One of the key areas for the funding will be to meet the club's continued focus on developing the best young players to reach the highest levels in the game. Revenue raised will also go, as required, in meeting general working capital requirements."
The offer will close on December 19, with Hearts suggesting shareholders could benefit from free tickets, discounted season tickets, priority bookings, event discounts, signed merchandise and hospitality offers.