Cherries chairman Eddie Mitchell has warned Portsmouth they need to quickly increase their offer for transfer target Jason Pearce – or forget about signing him.

Mitchell’s comments come after another day of intrigue in the Cherries captain’s on-off transfer saga.

In yet another development yesterday, Pearce’s agent Clive Berlin claimed his client would be interested in a return to Fratton Park and that the defender felt he was ready to step up the ladder.

Mitchell responded by admitting he understood Pearce’s reported desire to progress but he insisted he would only consider selling the club’s prized asset at a price Cherries deemed acceptable.

Pompey had an initial offer for their former trainee rejected on Monday, although Mitchell confirmed they got back in contact on Tuesday and indicated they could make an improved bid.

When asked yesterday if he expected to hear from Portsmouth again, Mitchell told them they needed to make a better offer soon, “otherwise the door is going to be shut and Jason will be with us next season”.

He said: “If they are going to come back with a bid, they need to do it relatively soon because we have got to make plans for ourselves.”

Discussing potential suitors in general, he added: “If there is genuine interest at a price which is acceptable, we would have to consider it. But as of yet, the interest has been below par.”

In an interview with The News, Pearce’s agent Berlin said: “As far as I am aware, Portsmouth have made a bid and that has been turned down.

“The ball is now in their court and whether they improve it or not. Jason would be interested, though.

“Without being disrespectful to Bournemouth, as far as Jason is concerned he is more than good enough to play higher than where he is.

“Portsmouth are among a number of Championship clubs who have shown interest. There is interest in Jason – and he is interested.”

Berlin added: “Jason is a Bournemouth player and will remain so until a bid has been accepted.

“He is aware of what is going on but it is not in his hands. Someone has to come in with a reasonable offer before anything can happen.”

Mitchell said: “I can’t blame him for wanting to progress but we can only let him progress if we get what we feel is the right price for him.

“We have got to make sure we do what is best for the club but I can’t blame any player for wanting to progress. If you see the rewards at the top end of football, you can’t blame them.”

The issue is made more complicated by the 50 per cent sell-on clause which Pompey hold over Pearce, as part of the deal that took him from Fratton Park to Dean Court in 2007.

Peterborough and Barnsley have also had bids for Pearce rejected, while Eddie Howe’s Burnley, Reading and Ipswich Town are also said to be keen.

Pearce politely declined to comment.