Portsmouth chief executive Peter Storrie has insisted that the club will avoid relegation while restructuring to become a more stable business.
Middle Eastern business Sulaiman al-Fahim had been trying to find the funds required to mount a takeover, but it seems Storrie is confident that there will now be investment in the club.
"The decision I took to find a new owner was made in the best interests of the football club," he told Sky Sports.
"We have certain financial commitments and it is my job to ensure we meet them.
"Over the past three weeks or so, I have been undertaking this mission which will see the club become a much more stable business and ensure we operate within our means in the future," he continued.
"The whole structure of the club will be re-evaluated under the new ownership, but the key thing for all you Pompey fans to remember is that we are very much alive and kicking.
"I will give you more details once the takeover is complete but, believe me, this is good news for all of us," added Storrie.
Portsmouth have been under pressure to sell their best players over the last 12 months, with Lassana Diarra, Jermaine Defoe, Glen Johnson, and Peter Crouch all being sold. Sol Campbell has also been allowed to leave the club, and now Sylvain Distin reportedly wants a transfer.
The club seems to have turned the corner financially, with Storrie now insisting Portsmouth are looking to add to their squad.
"Paul and I are actively looking to bring more players in," he said. "With the addition of another three or four, our squad size will not be a great deal different from last season.
"Then, when January comes along, there will be money to spend to further strengthen."
This article was first published on Goal.com