Portsmouth's administrators have confirmed that they have received a bid from a Middle Eastern consortium, which is thought to include former owner Sulaiman Al Fahim, reports BBC Sport.
Pompey are currently in administration, with debts of about £61m.
The Portsmouth Supporters' Trust and former owner Balram Chainrai are both vying for control of the club.
Administrators PKF say a Middle East consortium is now interested and is "waiting for clarification on funding".
Al Fahim had a short-lived spell as owner of Portsmouth in 2009 before selling to Ali al Faraj.