He has said he is preparing Motherwell for next season's Uefa Cup campaign but admitted that he would have a hard decision to make should there be an approach from another club.
Assistant manager Scott Leitch earlier this week insisted that there had been no contact from Hearts.
But he too said the Fir Park management team would be duty-bound to consider any other offers.
Hearts, who finished the season in a disappointing eighth place, made Frail caretaker boss at the turn of the year.
He had previously been in joint charge alongside Anatoly Korobochka.
That followed the departure of first-team coach Valdas Ivanauskas in March 2007 to mark the end of a turbulent period at Tynecastle.
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