The 23-year-old has just one year left to run on his contract at Tynecastle, but the Jambos are thought to be holding out for a bid of around £1million.
Fedotovas told the Evening News: "We have had interest in Templeton but for us it is most important to look after the shape of the team.
"We will evaluate that interest on the basis of what options there are to replace the player and strengthen the squad."
The interest is rumoured to be coming from several English clubs, with Leeds reportedly leading the chase.