Lawrence Shankland will not be signing a new contract at Hearts, it has been confirmed.

Chief executive Andrew McKinlay has revealed the Scotland international, 28, has rejected both offers put on the table by the Tynecastle club.

The striker has scored 22 goals this season. He has just 18 months left on his current deal.

After the weekend win over Dundee Shankland insists he's happy at Hearts.

While that hasn't translated to committing his long-term future to the club yet, McKinlay is hopeful the player may still agree to fresh terms at some point down the line.

He said: “Any contract we’ve put on the table we’ve been told wouldn’t be acceptable to the player, so that’s where they sit. The deadline has gone, so there is nothing on the table at the moment.

“Does that mean there won’t be ongoing chats? I’m sure there will be but who knows?

“We’re pleased we have got through this period. We made what we thought were really good offers.

“You can’t force someone to stay. Players have the power to run down their contract if they want. Right now, I suspect we are all drawing a line under this. You never say never, Lawrence’s agents might come and speak to us.

“From my perspective, the line has been drawn under this chapter, and we just need to focus on staying in third place. Hopefully we can just get on with the football and play.”

Shankland was heavily linked with a move away from Hearts in January, particularly to Rangers.

McKinlay has now revealed the ballpark figure Hearts have in mind if they are looking to sell the striker.

He added: “I didn’t believe we’d get a bid from anyone. Now, I don’t know if that is because we said it would take an exceptional price. I have no idea.

“But you still get to transfer deadline day and you wonder if someone is going to come in with even a silly bid, or throw something in — but absolutely nothing.

“We’re delighted because as we said from day one, we wanted to keep Lawrence. And we’ve been able to achieve that.

“It’s great that we’ve got him for at least another 18 months, and we’ll see how things pan out.

READ MORE: Rangers manager accuses some Scottish teams of being 'afraid' to play

"There were some numbers. And those numbers, without going into detail, were predicated on what happens if we sell Lawrence, and don’t get group-stage football in Europe.

“We know exactly what that’s worth, so it had to be in that ballpark and upwards for it to make any sense.

“That’s not to say we wouldn’t get third place without Lawrence — but it certainly would have been a massive risk.

“People forget that the Scottish transfer record sits at £4.5million between Scottish clubs, and that was Scott Brown a good few years ago now. It would have to be in excess of something like that."