Portsmouth chief executive Peter Storrie has admitted he has already begun talks with an administrator ahead of Friday's deadline.
Portsmouth owner Balram Chainrai has conceded a buyer for the club is unlikely to come forward before then - and there were no developments today in the talks with four different interested groups. Storrie has been in talks with the administrator about staying on at the club and the man who is one of the highest-paid chief executives in the Premier League insists he is willing to take a pay cut.
Storrie, who has a salary of at least £1.2million, told the Portsmouth News: "I have already spoken to the administrator and he wants to keep things settled, which means me staying on. I will work with him and I believe he wants me to help him sell the club to the right person."
He added: "There will be cuts at all levels. That's something for the administrator to do to make sure the club keeps going. I will be taking a big cut as well.
"I've seen salary figures of £1.4million bandied around for me, but my basic salary is less than half of what has been reported.
"The rest of it has been a bonus given by [former owner] Sacha Gaydamak every year. That's in recognition of me keeping the club going for him by selling players.
"But I am prepared to cut my basic quite substantially."
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