Portsmouth Alexandre Gaydamak has admitted he has turned down two offers for Pompey because the buyers could not satisfy his conditions of sale. These are any prospective new owner will need to commit to building a new stadium and training ground.

"I have come to realise over a period of time that I can no longer invest the time required to oversee the running of the club," Gaydamak said.

"I think it's only right to consider the sale of the club to a group or individual who can come in and invest the time and money to ensure the club reaches its true potential."

Pompey have long been linked with a move away from Fratton Park, and Gaydamak added: "First and foremost, it is far more important for me to find the right buyer - with the club's best interests at heart - rather than sell out at the first opportunity," he told the Sunday Mirror. "Making money from the sale of the club does not interest me," Gaydamak insists.

He added: "We are not in financial meltdown, and it is nonsense to suggest we have to start selling key players."

He said: "As regards the stadium and new training ground it is sensible to re-evaluate things in the current market, but I stress that it is imperative that they go ahead.

"Until I find a buyer who will give me cast iron assurances that this will be the case, I will remain at the club."