Gaydamak is desperate to leave the club before a financial crisis hits.
Pompey owe £60million and could lose up to £25million this season alone.
Almost 90 per cent of their income is being spent on their wage bill.
A Portsmouth insider told News of the World: “To keep the club at this level will cost a fortune and even Alexandre can’t afford to foot the bill for that.
“Gaydamak has two stark choices. Sell up and get out or have a fire sale of players in January to raise millions in transfer fees and save millions in wages.”