"I like Teddy, he's been a great player and he may be open to a deal," he told the BBC.
"I'm sure he wants to continue playing and is still a top player in my opinion.
"I've spoken with his agent but my chairman has been out of the country and is not back yet.
"I've got to sit down and have a chat with him and see where we are going with players, see if there is any money at all and see what we can afford to pay.
"Hopefully we can come up with some offers I can make to a few players.
"But I like Teddy Sheringham, I think he's a fantastic footballer. People say he might be getting older, but Teddy couldn't run when he was 15. But his brain is as sharp as anybody's and he's a great footballer.
"There may be some kind of deal you can strike with someone like Teddy and he would be a big asset to a club like Portsmouth that's for sure."