Portsmouth will ask the Premier League to lift their transfer embargo on the club in the next 24 hours.
ESPNsoccernet understands that the financially stricken club are currently resolving all the outstanding payments to the six clubs owed deferred transfer fees, to enable them to make their final plea to the Premier League.
Pompey's chief executive Peter Storrie told ESPNsoccernet: "The TV money has gone to pay off the three English clubs, and we have now rescheduled the payments to two of the foreign clubs and we are in the process of doing the same with the third. Once all that is sorted out we would hope the Premier League can then lift the transfer embargo.
"We have been working hard behind the scenes and we have lined up a couple of players for Avram Grant, and will just hope the Premier League will lift the embargo. We are hopeful that they will."
The Premier League have diverted the club's £7.5 million TV money directly to Spurs, Chelsea and Watford.
Pompey have been in daily talks with the Premier League this week to work toward settling deferred transfer payments with the other three foreign clubs, which the Premier League have insisted must be sorted out prior to any possibility of lifting the transfer embargo.
Potential sales of players should alleviate some of the club's cash flow problems, to ensure they can pay wages on time, after three successive late payments.