The sanction implemented due to delayed payment of player wages is due to end on December 23 and Lithuania striker Arturas Rimkevicius has already been linked with a move to Tynecastle, although McGlynn stopped short of confirming his arrival in Edinburgh next week.
Speaking after the 2-0 win over Aberdeen, which saw Hearts rise to seventh in the Clydesdale Bank Premier League, McGlynn suggested that players could depart in January and be replaced by cheaper options.
"The football club will still need to satisfy the SPL for that transfer embargo to be lifted," the Hearts boss said.
"We might have to lose some players and it may be we have to bring in players at a lower wage to compensate for that.
"If he (Rimkevicius) was going to be part of our plans, if he was training with us, he would get his fitness up and be ready to go if everything was to work out.
"There's a wee bit of work to get done first of all with the transfer embargo."
- Sports & Recreation
- Clydesdale Bank Premier League