Portsmouth boss Paul Hart has been assured by owner Sulaiman Al Fahim there will be money available to bolster his squad in the January transfer window.
Pompey have had an uninspiring start to their Premier League campaign, losing all five games and shipping ten goals, despite signing eight new players over the past three weeks.
According to reports, chief executive Peter Storrie revealed in a fans' meeting that Al Fahim had not yet refinanced the club and that he was unsure when funds will be made available. But the Pompey owner has insisted that the club will be active in the transfer market come January.
Al Fahim told Bloomberg: "Hopefully by the end of this month there's new money coming in from my personal finances. I will meet my manager, Paul Hart, on November 21 and sit down and see which kind of players he needs. By January we will have more money coming in for the players.''
Any January signings could hold the key to Portsmouth's Premier League survival, though many fans have expressed doubt over Hart's transfer nous, questioning the quality of his recent acquisitions.
Al Fahim also outlined his intention to treat Pompey as a business and gave his backing to Peter Storrie, despite the CEO's failed attempt to buy the club before Al Fahim's takeover.
"Peter Storrie is a good CEO and he's been with the club for the last seven years," he said. "Keeping him is better for the club. I'm not in this just to lose money. I like competition, I like to be a winner and I want to show with this club you can make money.''
A statement on the club's website confirmed that Al Fahim has in principle secured new finance to inject into Portsmouth over the coming months.
And chief executive officer Peter Storrie revealed Al Fahim will meet with fans before the Barclays Premier League clash with Everton on September 26. "Sulaiman has been in America for the last couple of weeks and has in principle secured new finance which will come into the club over the next couple of months,'' Storrie told the club's website.
"Following discussions with me, he is very happy to meet representatives from fan websites and supporters' clubs before the Everton game. Sulaiman will outline his plans for the club and the way forward, something he was not in a position to do before the refinancing of the club was done.''