The England defender told the Guardian: "Portsmouth have to look at the whole financial situation before they start coming to players.
"They'll probably have to sell (the club) before they start looking at other situations. All the players have to wait and see what the club's prepared to do. You can't do anything until the club is sold or (the owner) stays on or whatever.
"It's tough because we just needed two or three good players and we'd have been up in Aston Villa's position now, no question. That's the sad thing about it. We were so close.
"There is potential there at Pompey but I really do think that for whatever reason it's gone now.
"In the sense that to get back to the level of European football on a regular basis, it's going to take a big effort now over the seasons."