Sergei Baltacha claims that he has rejected an offer to manage Hearts after a disagreement with the clubs' majority shareholder, Vladimir Romanov.
Baltacha enjoyed an impressive spell playing for St Johnstone
The former Inverness boss told the Daily Record: "I set out my own concept of how Romanov and I might work together, but we were unable to agree.
"If I were to become manager of Hearts, I would have to change my way of life.
"I asked Romanov for a wage to reflect this, but it would be unethical to talk about it in detail."
Ukrainian Baltacha, who played for Dynamo Kiev, Ipswich Town and St Johnstone, became the first player from the Soviet Union to play in British football when he moved from Kiev to Portman Road in 1988.
The 49-year-old is currently combining dual roles as a PE teacher in London and youth academy coach at Charlton Athletic.
Baltacha had previously criticised the Edinburgh clubs' appointment of Eduard Malofeev, who had a two-month spell in charge of first team affairs last season.
Anatoliy Korobochka is currently the temporary head coach at Tynecastle as Romanov seeks to find a permanent replacement after the departrure of Valdas Ivanauskas.