Portsmouth have secured a £10 million loan from Portpin Limited, a company said to be owned by Balran Chainrai, a Hong Kong-based businessman. Mark Jacob, a spokesman for Pompey owner Ali al-Faraj explained that this loan would go a long way in steadying the club in the long run.
"This will put the club on a sure footing," Jacob told The News..
"People have to realise had we not taken over when we did the club would undoubtedly be in administration.
"We have had to stabilise the club in the short term and we are now confident we have done that."
The spokesman explained that the focus will now turn to matters concerning football.
"We are far more positive now than we were six weeks ago," he said.
"We are now looking at medium-term goals and long-term goals, like the stadium development, the academy and the training ground."