The dogs have been barking loudly for months, and it now seems the sale of Melbourne Heart will finally take place.

Chairman Peter Sidwell, not the most voluble of frontmen at the best of times, has gone to ground, along with other board members, as talks have progressed tortuously over the Christmas period.

Chief executive Scott Munn, a man much more at home in the media spotlight, has been front and square as point man during the negotiations, although as recently as Friday afternoon he was insisting no deal had been signed off with a New Zealand-led consortium of investors linked with the Melbourne Storm.

That's as may be - it seems Heart investors, so keen to get out with what would be a profit at the reported $12 million sale price (which insiders say is close to the mark) - are wary of tempting fate and derailing any transaction at the last second.

It looks as though they will not confirm anything categorically until the cheque is in the bank and been cleared. But who can really blame them in the circumstances?