http://news.bbc.co.uk/sport1/hi/football/teams/h/heart_of_midlothian/9132369.stmHearts would consider a groundshare deal with Edinburgh Rugby at a new stadium, but insist their preferred option is to remain at Tynecastle.
Murray Estates, a property company owned by Rangers owner Sir David Murray, plans to build a 25,000-seat arena on the outskirts of the capital.
A Hearts statement said: "Our first priority is to exhaust every option for the redevelopment of Tynecastle."
The club, though, are "open-minded" about attractive business ventures.
Hearts' preferred option is to redevelop Tynecastle but those plans have already undergone a significant revision.
When first announced in 2007, the £51m proposals included a hotel and leisure facilities.
But, earlier this year, the club admitted those plans were too ambitious amid issues with the council, Tynecastle High School and the nearby whisky distillery.
Instead, Hearts announced their plans would now cost £10-15m and focus on turning their main stand into an 11,000-seat structure with additional hospitality boxes.
A club statement reiterated its desire to remain at Tynecastle, while also paving the way for discussions over Murray's £1bn plans for a green belt area near Edinburgh Park.
The statement read: "Hearts is fully committed to the redevelopment of Tynecastle and the club has no intention of moving from our current home as long as there is a financially viable stadium redevelopment option on the table.
"We've already invested over £1m in stadium redevelopment plans and have no intention of walking away from that extensive development work.
"The challenges faced by Hearts in redeveloping Tynecastle are principally external - both health and safety and political.
"Any participation in the charrette referred to in today's newspaper would not be unusual because as a club Hearts must be aware of any plans to build a 25,000-seat stadium only a few miles from our own ground.
"Hearts will explore any potential opportunities that might exist to create a state-of-the-art football stadium at Tynecastle or elsewhere in the west of Edinburgh."
The club on Tuesday announced plans for a share issue that would reduce their debt - which sits at £35m - by about £10m.
