Portsmouth have rejected speculation that the club is actively being made available for sale - but admit that suggestions of 'interest in its acquisition' by would-be buyers is 'flattering'.
French businessman Alexandre Gaydamak, who took full control at Fratton Park in July 2006 with a £40million buy-out of former chairman Milan Mandaric, insists he remains committed to the club - despite a report claiming he is ready to cash in.
An official statement published on the club's official website: 'Neither Alexandre Gaydamak nor any member of the board met with a potential buyer or have have any plans to do so.'
The report suggested the 32-year-old owner, rarely seen in public or even at Pompey matches recently, has been looking for a buyer and would expect to receive in the region of £60million for the Premier League club.
If any sale did go through, Portsmouth would be the first club to have been taken over in the initial wave of foreign investment in English football and resold at a profit.
But Portsmouth have been quick to confirm: 'Alexandre Gaydamak and his board are totally committed to the future of the club and remain excited by the plans for a 36,000-capacity state-of the-art stadium at Horsea Island which has been met with a positive response by Portsmouth City Council and the Royal Navy.'
The statement also pointed out: 'The club has moved from the threat of almost certain relegation to become a permanent fixture in the Premier League top 10 over a period of the last two years and has also attained Academy status.
'During this time there has been considerable investment by the club in its facilities, infrastructure and top players - such as the recent acquisition of French international Lassana Diarra.
'This continued investment will inevitably lead to interest in the acquisition of the club, which is flattering.'