Portsmouth remain confident they will soon be back on an even financial keel, despite the Premier League being ready to withhold their latest chunk of television money to cover unpaid transfer fees.

Portsmouth have signed Watford striker Tommy Smith on a four-year contract, for an undisclosed fee.

Dubai-based businessman Sulaiman Al Fahim was today given the green light to complete his takeover of Portsmouth after passing the Premier League’s stringent fit and proper persons test.

David James has completed his move to Portsmouth from Barclays Premiership rivals Manchester City.