Portsmouth have rejected speculation that the club is for sale.
Gaydamak bought the club from Milan Mandaric in July 2006
Reports had claimed that businessman Alexandre Gaydamak, who took full control in July 2006 with a £40m buy-out, is now ready to cash in.
But, though Pompey admit any interest would be "flattering", they have rejected the claims on their website.
"Neither Alexandre Gaydamak nor any member of the board have met with a potential buyer or have any plans to do so," said an official statement.
This continued investment will inevitably lead to interest in the acquisition of the club, which is flattering
Portsmouth official club statement
The report suggested the 32-year-old owner, who is rarely seen in public or even at Fratton Park, has been looking for a buyer and would expect to receive in the region of £60million for the Premier League club.
But Portsmouth have been quick to deny the allegations.
"Alexandre Gaydamak and his board are totally committed to the future of the club and remain excited by the plans for a 36,000-capacity state-of the-art stadium at Horsea Island," said a club statement.
"The club has moved from the threat of almost certain relegation to become a permanent fixture in the Premier League top 10 over a period of the last two years and has also attained Academy status.
"During this time there has been considerable investment by the club in its facilities, infrastructure and top players - such as the recent acquisition of French international Lassana Diarra.
"This continued investment will inevitably lead to interest in the acquisition of the club, which is flattering."
If any sale did go through, Portsmouth would be the first club to have been taken over in the initial wave of foreign investment in English football and resold at a profit.