Portsmouth manager Steve Cotterill has warned Rangers they will not land striker Tommy Smith at a bargain price.
Pompey need to offload players to fund their way out of administration, but Cotterill is adamant he wants to keep Smith at Fratton Park.
Rangers have tabled an offer for the 30-year-old, who joined Pompey from Watford for £1.5million last season, but Cotterill says their bid is some way off Smith's price tag.
"He isn't for sale, he isn't one of the players we'd be looking to lose," Cotterill told the Portsmouth News.
"He's a good player and what has been offered wouldn't be the figure we would put on him if we did want to sell.
"We're trying to get ourselves straight at this club and we don't want to lose one of our better players.
"If someone does go, it won't be at the valuations people are putting on them at the moment."