The Jambos yesterday submitted a planning application to Edinburgh City Council for a £51million redevelopment of their Gorgie ground.
Plans include a new, two-tier 10,000-seater main stand to take the capacity to 23,000, as well as hotel, office, business and conference facilities and flats.
It will be funded by Vladimir Romanov's Ubig group and Hearts hope to begin work by the end of the year for completion by the start of season 2010-11.
Deputy chief executive Pedro Lopez revealed Hearts have already been approached by companies keen to sponsor the new-look stadium.
He said: "A stadium sponsor is an option. Tynecastle is the name we like and cherish and a lot of fans would not like to give it away.
"However, if it is a proposition that makes it really interesting for the club and the viability of the club and can allow us to buy the likes of Ronaldo we'd entertain it.
"If it brings economic benefits to the club then we'd consider it.
"It would be up to the company in question whether they would want to rename the stadium or only the new main stand. It's an open question.
"However, I'd be lying if I said companies had not expressed an interest and enquired about what we're planning."