New Portsmouth owner Ali Al Faraj has vowed to get the club's finances in order as a priority.
"Our aim is to put a stable foundation in place in all aspects of the business, beginning with the financial restructuring of the club," Al Faraj told the club's website.
"Once this is in place we can assess our approach to building a much-needed new training ground and redeveloping Fratton Park.
"In order to do this we need to full co-operation and understanding of various parties while we come to terms with the ongoing issues of the club's business and financial commitments.
"We are appointing a professional team to review all aspects of the club, working alongside chief executive officer Peter Storrie. There will also be a restructuring of the board.
"It is well-documented that we initially wanted to take over the running of the club two months ago. This would have enabled us to capitalised on the summer transfer window and help provide finance to strengthen the squad. Unfortunately we were unable to do so and that was a wasted opportunity.
"However, the players brought in at the 11th hour, along with those already at the club, have been tremendous and shown a great spirit and unity. And that is great credit to them and Paul Hart and his coaching team."