[7] Some players and the management team did not receive there wages in October on time either, which led to the Scottish Premier League (SPL) hitting the club with a transfer embargo.

[9] In December, the embargo was extended indefinitely as Hearts were deemed to have broken SPL rules by failing to pay a number of bonuses and appearance payments in a timely manner.

[21] Fans were urged to buy match tickets to sell out games and take part in the club's share issue.

[22] n order to fill the shortfall in funds at the club[23] On 4 May, Hearts released their financial figures for year ending June 2012.

[31] The draw was held on 3 September[32] and the club were drawn against First Division side Livingston,[33] Hearts won the tie 3–1 and progressed to the quarter-final.

[37] Callum Paterson opened the scoring before Johnny Russell equalised for the home side,[38] before Hearts had Darren Barr sent off[39] but managed to force the match to extra time.

[41] The draw for the semi-final took place on 8 November, and Hearts were drawn against fellow Scottish Premier League side Inverness Caledonian Thistle.

[42] Andrew Shinnie put the Highlanders ahead shortly after half time, but debutant Michael Ngoo struck the equaliser[43] before Scott Robinson was sent off for a two footed tackle on Inverness player Owain Tudor Jones.

[45] The result meant Hearts would return to Hampden nine months after lifting the Scottish Cup,[46] and would face either St Mirren or Celtic in the final.

[47] Following completion of the round Inverness asked the Scottish Football Association (SFA) for clarity over whether Hearts player Danny Wilson should have been suspended for the tie, due to speculation over whether he had served a ban from his time at Rangers.

[49] Hearts were led into the final by Gary Locke[50] in his first game as the club's official manager,[51] with Andy Webster captaining the side.

[78] Former Hearts player Edgaras Jankauskas was appointed as Assistant Manager[79] with Gary Locke remaining as first-team coach.

[94] Further announcements followed with the news that Ian Black,[95] Adrian Mrowiec,[96] Stephen Elliott,[97] Gary Glen[97] and Jordan Morton had also not been offered new contracts.

[99] Further departures included Jason Thomson,[100] Chris Kane,[101] Jonny Stewart, Gary Graham and the previous season's top scorer Rudi Skacel.

[105][106] John McGlynn's first signing as manager was Finnish international Peter Enckelman, who was brought in as cover following an injury to Mark Ridgers.

[113] In October free agent Rudi Skacel returned to the club to train,[114] however a deal to re-sign him was stopped by Hearts transfer ban.

[121] A Further departure was confirmed on 7 January, with Ryan McGowan completing his move to Chinese club Shandong Luneng Taishan.

In February, Andrew Driver was allowed to leave the club to join Houston Dynamo on loan until his contract expired in the summer.