Portsmouth have rejected a buy-out approach from former Tottenham defender Ramon Vega because of fears it could impact on the club's long-term future. In a statement, Portsmouth said: "As Mr Vega was consistently unable to demonstrate an ability to secure financing for his proposal - as had previously been agreed between both parties and which is fundamental to the long-term prospects of the club - the board, which includes the owner, decided to reject the proposal unless Mr Vega could satisfy them that the club's future would not be compromised.

"This was not forthcoming."

Meanwhile, Portsmouth stressed their financial position is under control.

Their statement added: "The club wishes to re-confirm that it enjoys excellent relations with all its banking partners.

"All financial commitments are fully serviced by the club and there is no truth to suggest that any facilities will be withdrawn."