Captain Robbie Neilson believes Hearts will need to clinch a European place if he is to be sure of a new contract.
The 28-year-old has been at Tynecastle for 12 years and was made skipper following the sale of Christophe Berra to Wolves in January.
"I have spoken to the club but I think there are 24 players out of contract and that's football now," he said.
"It's all about getting a European spot with Hearts and if we get that then there will contracts for the boys."
Hearts stated on Monday that they expect to show a reduction in debt this year, from the figure of �37m of 11 months ago.
Club managing director Campbell Ogilvie said they have worked hard to reduce overheads by lowering salary levels and shedding playing staff.
Hearts occupy third spot in the Scottish Premier League following the 2-1 win over Aberdeen on Saturday.
If they are able to finish the season there they would qualify for the Uefa Europa League, which will replace the Uefa Cup from season 2009/10.
"We're out of the Scottish Cup, so third place is our priority," added Neilson.
"There is still a long way to go but we're up for the fight.
"The manager spoke about getting into the top six but now he wants to push us on.
"It would be a great honour to captain Hearts in Europe and it would be a great achievement."
Neilson, who was out of action for six months last year with an ankle injury, is back to form and has not ruled out a recall to the Scottish national squad under former Hearts boss George Burley.
The right-back gained his only cap to date under Alex McLeish in a European Championship qualifier in Ukraine in October 2006.
Neilson takes inspiration from former Hearts team-mate Jamie McAllister who has returned to the international fold after a move to Bristol City.
Asked whether an international recall was on his agenda, Neilson replied: "Of course, I'm sure everyone in football wants to play for their country.
"I haven't been in George's squad but I've met him a few times at functions and I get on really well with him.
"He was the manager here, he was a good coach and had a good relationship with the players.
"Jamie was in the squad and then out again like me but now he is back because he is playing at a good level.
"So it's down to me to put the performances in and to get back would be fantastic."
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