Liverpool have turned down a bid for striker Peter Crouch from Portsmouth of £9m.
The 27-year-old played under Pompey boss Harry Redknapp at Southampton before he moved to Anfield for £7m in the summer of 2005.
Liverpool boss Rafael Benitez has hinted he would consider offers for Crouch in the region of £15m.
“I’d love to bring Crouchie back here,” Redknapp told Portsmouth News.
“We are trying to do deals to bring in players and chief executive Peter Storrie is working on trying to get things done.
“But the fee seems a bit too high, and at the end of the day it comes down to the price.”
The England international has scored 40 goals in 135 appearances for the Anfield side but, following the arrival of Fernando Torres at the club, has struggled to hold down a regular first-team place last season.