The Hustler boss, who was played onscreen by Woody Harrelson in 1996 movie The People vs. Larry Flynt, is putting together an offer to snap up the six-acre Holmby Hills estate in Los Angeles.

The house is believed to be up for sale with a $200 million (£125 million) price tag, and Flynt is hoping to make it the new Hustler base.

"Larry (Flynt) and I have talked about it and are preparing a bid," explains Harry Mohney, who runs the company behind Larry Flynt's Hustler Club chain. "We feel it is an excellent place for The Hustler Club and Hustler Mansion."

However, the Hustler offer is set to be well below the $200 million asking price, and Mohney is adamant they will not accept a clause which reportedly suggests Playboy boss Hugh Hefner must be allowed to continue living at the site after the sale.

"We are not going to offer half that much," Mohney adds. "I don't know where he got that figure from. Certainly it would require an appraisal of the value... Hefner could not live in the mansion."