But the club says Gaydamak would consider any offer given.
The statement read: “The press seem determined to speculate on the sale of a number of clubs in the Premier League and have now turned their attention to Portsmouth.
“The club’s owner has already stated that the club is not for sale but, as with all businesses, should the right offer be forthcoming serious consideration would be given to the proposal.
“The financial position of the club is fully audited and is consistent with its peers in the football industry.
“The club’s growth and performance over the last two-and-a-half years is evidence of how well the club is managed.”
The club is currently £60million in debt and is struggling with a massive wage bill that could force them to sell some of their best players in January.