Harry Cochrane is leaving Hearts but club are due a development fee
The 19-year-old will end his nine-year association with the Edinburgh club when his deal expires in June and then attempt to rekindle his career elsewhere.
Cochrane broke into the Hearts team at the age of 16 and famously scored in a 4-0 win against Celtic at Tynecastle Park in December 2017.
However, he fell out of the first team and was loaned out to Dunfermline in 2019. He has spent this season on loan at Montrose.
After talks on a new contract, Hearts issued a statement on their website declaring that Cochrane has chosen to move on.
Manager Robbie Neilson said: “Having been offered a contract extension Harry has informed us that he wants to try something new. Harry is a talented player that we would have liked the opportunity to further develop, however we have to respect his decision.
“Having been with the club for the past nine years we would like to wish Harry all the best for the future.”
Hearts sporting director Joe Savage added: “We offered Harry a new contract because the potential is there, it always has been, and we want to see young players become success stories at Hearts.
“He’s decided go a different way and we respect that. Sometimes a fresh move is best for all concerned, that’s football, and nobody at the club has a bad word to say about Harry.
“From the club’s perspective we’ve done everything procedurally that you would expect in order to protect training compensation, and we plough ahead with developing existing talent and sourcing new players of all ages to come in and improve the team both short and long term.”
Cochrane made 33 appearances in maroon and, as a graduate of the Riccarton youth academy, could still earn Hearts money when he joins a new side.
Under FIFA rules, the club will be entitled to claim a six-figure development fee for the midfielder as a result of the time he spent playing in their youth system, plus the fact he is still under 23. The money would be due once he joins a new team.