Portsmouth administrator Andrew Andronikou has described Rangers' reported £300,000 bid for Tommy Smith as "derisory."
Andronikou confirmed he received the offer from the Ibrox club through an agent this week but, despite Pompey's financial problems, he insists the 30-year-old striker will only be sold if the Fratton Park club's £1.5million valuation is met.
"I've received an offer from Rangers for Tommy Smith," he told the Scottish Daily Express. "It came via the player's agent earlier this week but has been turned down flat. I have to say I was absolutely gobsmacked when I was told about the offer."
He added: "It was an absolute joke, nowhere near the level we value Tommy. It can only be described as derisory.
"If clubs think that because Portsmouth are in administration we will accept any old offer, then they are mistaken.
"There will be no fire sale here and players will only be sold if we receive offers that meet our valuation."
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