Former Pompey Andrew Andronikou does not believe Championship Portsmouth will be hit by a points deduction.
The clubs owners Convers Sport Initiatives entered administration on Tuesday leading to the club's owner Vladimir Antonov stepping down.
Andronikou acted as an administrator at Pompey last year and has now been appointed to a similar role with CSI.
"I can't see how the club can be deducted points. There's no football debts," he told BBC Radio Solent.
"What the club need now is someone to come in with the necessary resources to take the club forward."
However, Andronikou acknowledged that it is now important for the club to find new investment.
"We need to find a purchaser to put funds into the club around the new year," he added.
"Our remit really is to find a new owner. Historically in every club's cash-flow profile the end of the season is the most gruelling so it's important to get something sorted for then."