PORTSMOUTH claimed to have received two “serious” offers to buy the club during a hearing at the High Court when they were granted extra time to fight a winding-up petition from Her Majesty’s Revenue and Customs yesterday.

Portsmouth chief executive Peter Storrie remained locked in talks with representatives from Her Majesty’s Revenue and Customs this afternoon over a bid to halt a winding-up order against the club.

Portsmouth have received a timely boost with the news that goalkeeper David James is set to waive his right to a new contract in a bid to help the financially-stricken club survive.

Portsmouth have been dealt another blow after their application to have a winding up petition from Her Majesty's Revenue and Customs struck out was dismissed by a High Court judge today.

Leicester chairman Milan Mandaric was charged today with two counts of cheating the public revenue, Britain's Crown Prosecution Service (CPS) said.

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.

The Premier League are set to pay Portsmouth’s £7m (€7.8m) share of the latest television monies directly to other top-flight sides to settle the struggling club’s outstanding transfer debts.

PORTSMOUTH expect to pay their players’ December salaries on January 5.

Portsmouth remain confident their off-field financial issues will be resolved with chief executive Peter Storrie insisting it will soon be business as usual again at Fratton Park.

Avram Grant is convinced Portsmouth still have what it takes to survive in the Barclays Premier League, despite a resounding 4-1 home defeat to Arsenal and more financial worries.

The financial future of Portsmouth remains unclear despite the club denying they have been formally served with a winding-up petition.

PORTSMOUTH last night denied being formally served with a winding-up petition in a statement released by the club.

Portsmouth 1 Arsenal 4

Portsmouth have denied being formally served with a winding up petition by the UK's HM Revenue & Customs, in a statement released by the club.

Premier League strugglers Portsmouth have been issued with a winding up petition by the UK's HM Revenue & Customs.

Portsmouth chief executive Peter Storrie has been asked by owner Ali Al Faraj to find investors interested in putting money into the club.

Portsmouth FC has issued a strongly-worded statement denying rumours the club planning to go into administration.

Portsmouth’s turbulent season took another downward turn last night as the club confirmed their players had not been paid for a second time this season.

Avram Grant has been appointed as Portsmouth’s director of football, the club have confirmed.