Hearts have revealed that they have rejected a second bid from a Championship club for midfielder Jason Holt.

Nottingham Forest were reported to be making an improved offer for the 20-year-old after seeing their initial bid rejected.

However, their renewed offer for the midfielder has failed thanks to the club's supporters.

Managing Director David Southern told the club's official website: "It's thanks to the fantastic fundraising efforts of the supporters that we are in a position where we do not have to sell our best talent for below market value.

"Gary Locke has a small squad and will face a challenging season so to rid him of another player, and such a talented one as Jason Holt, would not benefit him or the club as a whole."

Holt made 22 appearances for Hearts last season, scoring three goals in the process.