Racing and Portsmouth have reportedly reached an agreement for a £1 million transfer, but the 18 year old is yet to put pen-to-paper.
The midfielder has said that a deal is not done, as he is discussing with another English club that would guarantee him more regular football.
"Nothing's done with Portsmouth," Schneiderlin told setantasports.com. "I can't confirm I'm going to sign with them.
"I am currently thinking, and to be honest they are not my favourite destination. There's another possibility that I do fancy.
"It's not about staying in France, I don’t think it’s possible for me. But I want to make clear that the sport aspect is the main thing for me."
When asked if the second club willing to sign him is bigger than Harry Redknapp's side, Schneiderlin added that: "No, that's not the problem. It's about playing regularly."