Portsmouth are reported to have seen a £12 million bid for Tottenham's Jermain Defoe turned down.
Defoe has just returned home after being removed from England's World Cup squad following Wayne Rooney's return to fitness.
The Tottenham striker is well-known to Pompey boss Harry Redknapp who gave him his first-team chance when the two were at West Ham.
Redknapp has been given a substantial transfer budget by co-owner Sacha Gaydamak as he bids to try and transform the team that came with a stunning late run to avoid relegation last season into a genuine Premiership force.
The reported £12 million offer would almost treble the South Coast club's transfer record - currently the £4.1 million paid to Auxerre for Benjani Mwaruwari last January.
However, it is been rejected by Spurs - according to Portsmouth's official website - who also turned down a £10 million offer from Manchester United for Michael Carrick on Friday.
Redknapp is known to be in the market for a new striker and was originally in the race to sign Andrew Johnson from Crystal Palace.
It remains to be seen if Pompey will return with an improved offer, but armed with Gaydamak's considerable funds he could yet test Spurs' resolve to hang on to the striker who was not a first-choice at White Hart Lane towards the end of last term.
Meanwhile, Pompey are also believed to be chasing Fenerbahce's former Arsenal, Liverpool and Manchester City striker Nicolas Anelka, with a deal close to being agreed for the French hit-man.
Another target is Arsenal defender Sol Campbell, while Campbell's former Gunners team-mate Tony Adams is in the frame to become Redknapp's assistant following the departure of Kevin Bond to Newcastle.
Indeed, it looks set to be a busy summer of transfer activity at Fratton Park with Fulham being tipped to move for Matthew Taylor and Lomana Tresor Lua Lua.