American billionaire Michael Eisner has reportedly launched a bid to buy League Two outfit Portsmouth.

The 75-year-old spent 21 years at Disney as chairman and chief executive before leaving in 2005 and is thought to have a personal wealth of around $1 billion (£800.7m).

According to Portsmouth paper The News, Eisner held negotiations about taking over the club last week and was in attendance at Fratton Park with his family for the 4-0 win over Grimsby Town last Tuesday.

Eisner is said to be impressed by the club's recent history, which saw them fall from the heights of the Premier League down to the fourth tier and earn financial rescue from its own supporters in 2013.

Pompey currently sit in the third automatic promotion place in League Two with a four-point advantage over fourth-placed Stevenage with eight games of the season left to play.