Hearts boss has again worked his magic in the transfer market with quality signings

Indeed, moves to recruit John Sutton, Jamie Hamill, Danny Grainger and Zander Diamond are amongst the most astute made by the Edinburgh club in recent memory.

All four come from reputable SPL clubs on freedom of contract and sit in the 24-27 age bracket, making them ripe to further develop their careers at Tynecastle. They earned decent salaries at Motherwell, Kilmarnock, St Johnstone and Aberdeen, but defecting to Hearts guarantees higher wages as well as higher expectations.

That said, their remuneration will pale in comparison to the outgoing Ruben Palazuelos (around 10,000 a week) and Ismael Bouzid, who have yet to be offered new deals. Sources close to Hearts have suggested the French-born Algerian was earning up to 12,000 a week. These new arrivals will, on average, cost less than a quarter of that.

Should any of them become first-team mainstays and subsequently attract transfer bids from other clubs, majority shareholder Vladimir Romanov could have cause to look back on the May 2011 recruitment drive as one of his club's finest ever.

In an era of financial prudence in football, being thrifty is the number one priority for any club owner. Romanov, in tandem with manager Jim Jefferies, is managing to do this whilst also imbuing Hearts with experienced players well acquainted with the environment they must perform in next season.

"Hearts actually managed to make a small profit in the last financial year but that doesn't alter the fact that the club still has a substantial debt," observed Leslie Deans, the club's former chairman. "If the operational costs are less, it will mean the club can function closer to break-even and maybe even continue to make small profits.

"Football cannot be in isolation and ignore the financial difficulties affecting the world at large. Clubs have to cut their cloth accordingly. Money will always change hands for the very top players, like Cristiano Ronaldo, Lionel Messi or Wayne Rooney. But the number of transfer fees paid is decreasing and more players will move on freedom of contract. Clubs will pick up players whose contracts have expired. You will also find less jobs for players because clubs will run smaller staffs.

"It's not all doom and gloom, though. At Tynecastle, it means Jim has been able to bring in a few new players at no transfer cost to the club. I know there was competition from other clubs in Scotland and outwith Scotland for the players Hearts have signed. It's pleasing to see they have come to Hearts.

"Identifying players is a talent Jim has and something he showed when I was chairman many years ago. He identified Neil McCann, Colin Cameron and Stefano Salvatori, to name but three. He acquired them for little or no transfer fee and Hearts got great value out of each of them. I hope there may be more to follow."

Diamond's move has yet to be finalised following a medical on Tuesday evening. Whilst many have questioned whether the centre-back can compete with the likes of Andy Webster and Marius Zaliukas for a first-team place, Jefferies is keen to nurture the 26-year-old's raw talent.

"Zander is one that way back came on to the scene at Aberdeen and did fantastically well," said the manager. "He has lost his way over the past couple of seasons. Maybe he has been at Aberdeen too long. Can we get that player we feel is in there out of him?

"He has hardly played with a regular, experienced centre-back. I have said to him face to face that he has a lot of faults but he has a lot of pluses as well. I have done the homework, I have spoken to a lot of people who have worked with him. They say he is a terrific lad to work with and great in the dressing-room. He is a great competitor.

"People like Andy Webster, how he brought on Garry Kenneth at Dundee United, he could do the same job here (with Diamond). I had the same problem with Steven Pressley when he first came to the club. People were questioning that and we all know how well he turned out."

Diamond is unlikely to be the last new recruit. Hearts have held talks with Kilmarnock's Mehdi Taouil and have registered an interest in Prince Buaben and Morgaro Gomis, who are out of contract at Dundee United.

Jefferies, clearly, is mindful of an impending campaign in the Europa League. "We are still after a couple more if we can manage it. We are looking at one or two that I will be putting to Mr Romanov when we meet up soon," he said.

"Going into Europe you need a decent squad.

"If you get into the group stages it's something you need to deal with. These boys coming in will make us stronger.

"It's nice to get them tied up early so they can go away in the summer and relax. You want them there for pre-season training. They have piece of mind now and they all look forward to the challenge of playing at Hearts."

Inevitably, there are those who must move on.

The departures of Dawid Kucharski, Jamie Mole and Paul Mulrooney were confirmed yesterday, as were those of youngsters Dean Lyness, Connor Fairley, Jamie McCormack, Murray Christie, Michael Deland and Shaun Hill.

Romanov has spoken out to declare his expectations for next season after backing his manager in the transfer market. "During summer there will be a few players leaving the club. But the team will be strengthened in all necessary positions - defence, forward and central," said the Russian. "A number of young talents are waiting to join the first team. The club will have every opportunity to perform well next season."