Fedotovas predicts new signings for Hearts

Answering questions from the floor at the end of official business, Fedotovas declined to identify the club's signing targets, but suggested manager Jim Jefferies would get better value for money in the transfer market than some of his predecessors.

"I'm really glad we have a good working relationship with the new manager," he said. "I will not give you a name today, but I hope very much that early next week we will be able to announce our first new signing. And I hope to announce one or two more after that."

Jefferies, who succeeded Csaba Laszlo four months ago, originally made signing a striker his priority. More recently, following the release of Laryea Kingston and Michael Stewart on completion of their contracts, he has said that midfield reinforcements are just as important.

The manager knows he will have to work with a smaller budget than has been the case at Tynecastle in previous seasons, and the release of Kingston, Stewart, Christian Nade and Jose Goncalves will help considerably in that respect.

Jefferies knows that the days of splashing out ludicrous amounts of money on players are over, as Fedotovas made clear when answering a question about how the club could cut down on such wastefulness.

"We need to take care, and we have been doing that as much as possible during the recent signing windows," the director continued. "We will still be spending on the squad, but we will put a big emphasis now on our academy, as you know what to expect from players who have been here for five or six years and have kept progressing.

"We have had to lose certain players, and certain managers in the past believed they would bring a positive result, but that didn't materialise. Working with the youngsters will be different, but Jim Jefferies is well known for his expertise in this area. I hope in future our signing policy is more successful."