Hearts and Per-Mathias Høgmo have been unable to reach an agreement as the club continue their search for a new manager.
The experienced Norwegian boss had held talks with the Tynecastle club to replace Steven Naismith but an agreement could not be reached.
STV Sport understands the club are moving on in their search for a new head coach with a number of candidates identified.
The club have not put a deadline on appointing a new manager in a bid to get the right person into the job.
Høgmo had spells with a string of clubs including Tromso, Rosenborg, Djurgardens and Hacken.
As well as managing the Norway national team between 2013 and 2016, he has also been in charge of his country’s under-15s, under-16s, under-17s, under-19s, under-21s and women’s side.
During his three year spell with the Norway Women’s National Team, he reached a World Cup semi-final and won an Olympic gold medal.
He managed in the Champions League group stages with Rosenborg in 2005 when they finished third in a group with Lyon, Real Madrid and Olympiacos.
He also won the Swedish Allsvenskan with Hacken in 2022, which was the club’s first league title, and the national cup in 2023.
Following that he spent eight months in the J-League with Urawa before leaving them in August of this year.
Hearts have been looking for a new manager since Naismith was relieved of his duties last month following a run of eight consecutive defeats across all competitions.
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