Hearts debt could rise to £80m if Edinburgh City Council gives the go ahead to plans to redevelop the main stand at Tynecastle.
The club's plans for a new 10,000-seat main stand, including a hotel and flats, have been submitted.
"It would be very strange not to get the planning permission," said Pedro Lopez, Hearts deputy chief executive.
"I think everyone here wants this to happen and everyone wants this club to stay at Tynecastle."
On top of the club's existing debt of approximately £30m, the project would cost more than £50m.
Hearts hope the project, which would increase stadium capacity to 23,000, will begin in the summer and be completed by 2010.
And Lopez is confident that the future of the Edinburgh club will prosper as a result.
"You always need to look at the longer term. That's why we are doing this, because it's a long-term project.
"The project will enable the club to be self-sufficient in the future and naturally to reduce the debt to zero," he explained.
"There has been a lot of speculation about long-term commitment.
"It will take some time for us to get the planning permission, time to build the new stand and longer to see the improved situation because of the improved facilities for the club."
Meanwhile, Chairman Roman Romanov explained Hearts' Tynecastle proposals.
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"Today's submission of the planning application is a major step forward in realising our aim of providing a first-class football stadium in Scotland's capital city," he said.
"Our plans will bring great benefits to both Hearts and the city of Edinburgh.
"As such, we are hopeful that our submission will be looked on favourably given the added value and economic benefit that it brings.
"In our mind, the result will undoubtedly lead to Edinburgh being home to one of the country's top football stadiums," Romanov told the club website.
"It will also offer benefits to those that live and work in the surrounding area.
"We are very focused on delivering a truly spectacular development for our players, supporters, sponsors, partners and neighbours.
"The newly-developed stadium will ultimately lead to the creation of over 300 new jobs and provide an economic boost of at least £1.2m per season to both the immediate area and the wider city economy."
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