Budge, 64, is planning to swap her seat in the Wheatfield Stand at Tynecastle for a berth in the directors' box by purchasing a majority shareholding in the club from creditors UBIG and Ukio Bankas for £2.5m.
The move is subject to a creditor's meeting in Lithuania allowing the shares to be released; as yet, a date for that meeting has not been confirmed.
If the protracted transfer of shares is finally completed, Budge will effectively become the sole owner of the football club through her BIDCO (1874) company, possessing an overwhelming majority shareholding of 78.97%.
She has vowed the new regime, which will pave the way for a Foundation of Hearts (FoH) fans' takeover, will be nothing like the autocratic Vladimir Romanov reign of mismanagement and poor communication with fans.
"I know that at times there may be differences of opinion among us as together we take this project forward," Budge said. "I reiterate that, should the final hurdles be cleared, there will be a new era of openness and transparency in our relationship with the supporters. I am very much looking forward to taking on the challenges facing us."
The defender Jordan McGhee is the latest young Hearts player to be the subject of interest from England. Sunderland were reported to have been watching the 17-year-old during last night's Scotland Under-21 match with Hungary at Tannadice. Adam King, another highly rated Hearts academy product, joined Swansea City in a £200,000 deal in January.