Motherwell have not been approached either "informally or formally" by Hearts about manager Stephen Robinson, says chief executive Alan Burrows.
Northern Irishman Robinson has emerged as one of the favourites to replace Craig Levein, who was sacked on Thursday with Hearts joint bottom of the Scottish Premiership.
It has been reported a six-figure fee would be needed to release him.
"He signed a new deal in the summer, so the club are protected," Burrows said.
He added: "But it's business as usual and we'd very much like Stephen to stay here because he's done an excellent job. He's almost a quintessential Motherwell manager for what we ask people in that role to do."
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Robinson took charge of Motherwell in 2017 and led them to seventh and eight in his first two seasons. His side currently sit third in the Premiership after Saturday's win over Livingston.
Speaking before that game, he said has no intention of entertaining any idea of leaving for Hearts at this moment in time.
"Of course it's a big club and it will be a attractive to a lot of people," he said. "I'm sure they will be inundated with candidates but my sole concern is here at the moment and winning a game today."
When asked how he would respond if Hearts did make an offer, he added: "That's a hypothetical question and it's disrespectful to everyone at Motherwell.
"There has been no contact and I'm just getting on with my job. That's what I'm paid to do."
Another potential candidate - Gary Holt of Livingston - admitted that the vacancy at Tynecastle is an "attractive" one, but believes there are more qualified candidates than him for the job.
"It's a big club, it has a big fan base, it has a lot of good things in place. But I think there's people that are more clamoured for than me and rightly so. I love the job that I've got."