Former Portsmouth boss Harry Redknapp has described the situation at Fratton Park as "scary" and "worrying" after players were not paid as scheduled for the second time this season.
Redknapp left Pompey just over a year ago and since then the ownership of the club has passed from Alexandre Gaydamak to Sulaiman Al Fahim, then recently to Saudi business tycoon Ali Al Faraj.
"It's worrying," said Tottenham manager Redknapp.
"They had an investor putting in up to £15million into the club and it's all disappeared again. Their wage bill is not high so it's a problem.
"They've brought £80-90million in transfer fees in the last year which is incredible but they cannot seem to balance it out. They are only getting gates of 18,000 and it's very difficult to maintain Premier League football on those crowds as well.
"That is a problem for them. Hopefully they will sort it out. It's a great club with terrific support."
Redknapp still hopes Pompey can survive in the Barclays Premier League but admits the backdrop to their campaign is a cause for concern.
"Hopefully Avram Grant will keep them up and pull off a great escape but the owners seem to come and go. We keep hearing about mega-rich people and then they put a few quid in, or nothing in, then they disappear again," he said.
"It's scary that they cannot find someone who cares and has the money to back the club up. Most clubs have found owners that can keep the club going and the foreign owners have been good for the game but in this case every time they bring an owner in they either don't want to put money or don't have any.
"There is one chap who's put good money, he's in the background and the rest of them, I don't know what they are doing."
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