POMPEY administrator Trevor Birch says he is doing all he can to find a buyer before Pompey’s cash runs out.
In yesterday’s creditors’ meeting he said there is no bid on the table yet and the club’s future is ‘50/50’.
Those present at the meeting voted to approve the administrators’ proposals and form a creditors’ committee.
He said: ‘With the proposals approved, my PKF colleagues and I can now continue with the process of restructuring the business’ finances and finding a buyer for the club.
‘In our view, a sale of the club as a going concern and subsequent CVA will result in the best possible outcome for everyone involved, including the creditors.
‘Time is not on our side though. The Football League’s annual meeting from May 31 - June 1 is a crucial date for us.’