Portsmouth administrator Andrew Andronikou remains confident the club will be able to exit administration - despite the club releasing a statement on Friday night suggesting they were on the brink of liquidation.
Pompey's statement pointed the finger of blame at former owner and creditor Alexandre Gaydamak, accusing the Russian businessman of "moving the goalposts" as the club attempted to reach agreement with all creditors to move out of administration.
Andronikou told TalkSPORT: "Contractual negotiations have stalled Friday afternoon but I am disappointed there has been a press release. I am still hopeful we can sit down over the next 24 hours and agree a way forward."
He added: "This is a matter that has high emotion as the club is very close to the city but I want to emphasise that in 24 hours we will be back on track and hopefully we can get this matter finally concluded.
"We are as close to coming out of administration as going into liquidation. It is a fine balance and I want to say as little as possible at the moment."
Portsmouth became the first Premier League club to enter administration in February, and the subsequent nine-point penalty left them with no hope of surviving relegation from the top flight.
Manager Avram Grant left in the summer to join West Ham, to be replaced by Steve Cotterill, and a host of players departed Fratton Park leaving behind a thin squad.
The team made a slow start to the season but have hit form lately, winning four of their last five matches and drawing the other, however the off-pitch troubles have continued. And Andronikou is frustrated that Friday night's events will serve as a distraction from the club's Championship fixture against Hull at the KC Stadium on Saturday which will still go ahead.
He continued: "I need consent from all parties(to conclude a deal). Mr Gaydamak is an integral part of this process as he is a secured creditor. I think we have a way to go before talking about putting this club into liquidation.
"The last thing we wanted was for this was to come out before a game and I am on the radio to dispel the belief that we are going to go into liquidation. We are here to safeguard the club, to realise as much money as we can for our creditors and liquidation is our very last position on the matter. We have to get around the table again and negotiate."
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