Kanu has held out for the right deal

The Nigerian international, 31, was keen to cash in on last season's success by demanding a two-year deal.

But he now looks set to sign a one-year deal, with a year's option - which would be activated if he plays a required number of games.

Pompey chief executive Peter Storrie and Kanu's representative reached an agreement on Wednesday.

Kanu will battle with strikers John Utaka, David Nugent and Lomana Lua Lua for a place in the first team.

Meanwhile, Portsmouth boss Harry Redknapp said he is tracking Sevilla's former Tottenham and West Ham striker Fredi Kanoute, although Pompey are not prepared to pay the Spanish club's �8m asking price.

The Pompey boss said: "I've got good strikers but the number nine shirt is still available and we'll have to wait and see who fills that shirt.

"Fredi was a player we watched a couple of times at the end of the season. He played with me when I was at West Ham, so he's a player I know very well.

"But whether there's anything to be done there, I'm not sure."