Ron Gordon accepts Hibs "missed the boat" on a Europa League cash boost.
But he made it clear he did not feel Hearts were leaving his club in their wake.
The Jambos are set to pocket £3.5million are guaranteeing themselves group stage football next season until December at least.
And they secured third in the Premiership table.
But Gordon insists that while the rivals are flying high he's not worried about being left behind.
"Not really," Gordon replied when asked if he feared that thought. "But this was the year to be in the top six competing for European competition.
"The fact we're not in it is a major disappointment and that's certainly one of our KPIs, that's certainly what our goals are.
"So in a way this was the season and we missed the boat. It was the wrong season not to perform and so yes I'm a little disappointed in that.
"Kudos to Hearts to be honest, because they've had a terrific season and it'll be very beneficial to them but I don't think we're going to be left behind and we're not going to let ourselves get left behind."
