Last Updated: Mon, 08 Feb 2010 11:49
Executive director Mark Jacob is confident Portsmouth can avoid administration and says there are groups interested in taking over.
Hong Kong businessmen Balram Chainrai was named as Pompey's new owner last week when his company acquired former owner Ali Al Faraj's 90 per cent stake in the club.
However, that is just a short-term measure and Jacob has revealed there are "two or three" groups showing an interest in taking over as the struggling south club side search for stability in the long term.
Jacob attempted to explain the current situation at Fratton Park by saying: "He (Chanrai) was providing short-term funding for the club and that has been converted into equity.
"He is technically the new owner, all subject to the Premier League's fit and proper person test.
"It is a short-term, interim measure where he is taking control pending new investment or a potential new owner. He's come in to stabilise it on a short-term basis."
He added on BBC Radio 5 Live: "The board have been approached by several interested parties over the last couple of days. There are potentially two or three groups who have approached the board and Mr Chainrai with regard to the possibility of taking over.
"They are from different parts of the globe and some even more locally.
"There has been a lot of turmoil and everything has come to a head over the last week or so. It's quite delicate at the moment but we are confident a group will be in place very soon to move things forward to allow Mr Chainrai to step aside.
"The club has to be bigger than any individual. Bigger than myself, the board and any owner. We have to ensure it survives," he said.
"I'm confident the club will not go into administration and I urge Portsmouth supporters to keep the faith. We've been down this road before and survived."