Portsmouth are confident their transfer embargo will be removed by the middle of the week after finance has been put in place. The action, taken by the Premier League, related to unpaid payments involved in previous transfer dealings.
Minority owner Sulaiman Al-Fahim has revealed that finance has been put in place to help stabilise the club, with the transfer embargo now set to be lifted.
"(We) met with financial advisors of the consortium and the threat of the petition on the club is no longer there," Fahim said.
"The club has made the revenue payments and the embargo on the club will be cleared by Tuesday or Wednesday.
"The club has secured financing and will start to become stable by the end of this week."
He added: "We will have our first official board meeting on December 1 and I am giving back the property rights to the club so they can upgrade the current stadium."