Pompey have been told they must pay £750,000 to land Matt Godden.
Peterborough director of football Barry Fry has slapped a substantial price tag on the head of the one-time Blues target.
According to Fry, Pompey have already been turned away following a £500,000 bid for the 27-year-old.
League One newcomers MK Dons have also enquired about Godden, but no offer was made.
However, the striker’s suitors have now been told £750,000 can land his services.
It is unclear whether Pompey’s interest remains, having last week recruited Ellis Harrison from Ipswich for £450,000.
Regardless, the Posh are ready to do business for Godden – at the right price.
Fry told the Peterborough Telegraph: ‘Matt wants regular first-team football at his age.
‘That's what he told the manager and that’s understandable.
‘But we don’t really want him to go. We think in Mo Eisa, Ivan Toney and Matt we have forwards who will score plenty of goals between them.
‘Portsmouth were keen, but we turned their bid of £500,000 down because we want £750,000. MK Dons also enquired about him. but they didn’t go as far as making a bid.’
Godden was recruited from Stevenage for around £400,000 last summer.
He scored 18 goals during a first full season in League One, including netting in both of Peterborough’s encounters with Pompey.
However, Mo Eisa has since joined in a £1.3m deal from Bristol City in a club-record deal.
He has been pencilled in to partner Ivan Toney as the Posh’s strikeforce in the forthcoming campaign.