Portsmouth have reportedly rejected a straight swap offer from Tottenham Hotspur for England No 1 David James, with goalkeeper Carlo Cudicini heading in the opposite direction to Fratton Park.
Spurs boss Harry Redknapp is keen to add former charge James to his White Hart Lane revolution, following a thigh injury to his current No.1 Heurelho Gomes.
'Arry will now try to persuade club chairman David Levy to return with a player-plus-cash offer for the veteran goalkeeper, as he seeks to counter the destabilising effects of Gomes' injury on Spurs' impressive start to the season.
The South Coast outfit are under no pressure to balance the books however after Dr Sulaiman Al Fahim's takeover last week and are reluctant to sell the 39-year old shot-stopper.
"We don't need to sell players. Sylvain Distin leaving was disappointing for me. We would like David James to stay at the club,' Al Fahim told The Daily Mail.
Pompey boss Paul Hart is still looking to add further new recruits to his squad after yielding no points from their opening four fixtures so far this season.
A deal for out-of-favour Manchester City defender Tal Ben Haim is all but complete, while the club are also battling Blackburn Rovers for the signature of former Liverpool winger Boudewijn Zenden on a free transfer.
The club have extremely busy in the transfer market since Al Fahim's takeover was confirmed, completing the signings of Michael Brown, Tommy Smith and Spurs' Kevin-Prince Boateng.
Ivory Coast international hitman Aruna Dindane, Jamie O'Hara and Hassan Yebda have also joined the club on loan deals, while Aston Villa left-back Nicky Shorey is also likely to arrive on a temporary basis before 5pm.