Relegated Portsmouth have received takeover interest from a mystery Ukrainian group.

The Daily Mail says the Ukrainian consortium has emerged as the front-runner to buy cash-strapped Portsmouth but the group are not prepared to meet the club's asking price of £30 million pounds.

Administrator Andrew Andronikou has revealed he is attempting to re-open negotiations with the Eastern European group who are involved in iron and steel smelting.

Insolvency firm Griffins released their own CVA proposal earlier this week claiming the south coast club can afford to pay £65 million pounds to creditors rather than the £20 million Andronikou has offered.

Andronikou said: "They are considerably wealthy individuals involved in new industry. I have been talking to three foreign parties and they were my preferred option.

"I am trying very hard to rectify the problem. I am talking to them and trying to bring them back to the table."