Zarate was a hit at St Andrew's
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Birmingham's on-loan striker Mauro Zarate is having discussions with Portsmouth over a possible move to Fratton Park, BBC Sport understands.
However, the FA Cup winners have yet to agree a fee with the 21-year-old's parent club, Al-Saad of Qatar.
Pompey boss Harry Redknapp is believed to be "very keen" to land Zarate, who scored four goals for relegated Blues.
The Argentine, who joined on loan in January until the end of the season, made 14 appearances for Birmingham.
Last week, Birmingham boss Alex McLeish paid tribute to the striker.
"Mauro's going to be an attractive proposition to Premier League clubs, in fact I know he is," he told the Birmingham Mail.
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606: DEBATE
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"I would like to thank him for his spell here, and he made an impact, which was never going to be easy.
"It was a little bit of a risk bringing him in from a league where you can get away with things, be lazy and still look like a world class star, coming into the hurly-burly of the Premier League.
"So I applaud his spirit, his heart and he will be a good asset to one of the big clubs, if not here then abroad."
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