Portsmouth defender Ricardo Rocha's future is unlikely to be resolved until the start of the season, according to club administrator Andrew Andronikou.
The Portuguese centre-half impressed last term despite Pompey's relegation from the Premier League.
He was offered a new contract in May, but on reduced terms and Andronikou isn't sure whether he'll remain on the south coast.
Speaking to The Portsmouth News, he said: "We have made an offer to Ricardo and are just waiting to hear.
"Initially there was a flurry of phone calls and e-mails. Since then it has gone a bit quiet. Its going to be an August decision for him. He is going to try to do his best to see what is around and then come back to us.
"Considering the level of salary he was on, for somebody that age its a massive change when you are offered something significantly less.
"Lets not forget the tax regime in the UK, which also comes into the equation.
"Ricardo will want to maximise his earnings - and that is something we understand.
"But I think he still has a passion for the club and if he cannot find what he is looking for, perhaps he will come back."