Fratton Park hopes Russian consortium will quickly buy the club.
Portsmouth chief executive David Lampitt is keen to end the club’s uncertain future and sell to Convers Sport Initiative.
CSI are allegedly attempting to but the South-coast club from owner Balrum Chainrai for £17million, subject to passing the Football League’s proper person’s test.
The Football League has confirmed it has received documentation from Portsmouth relating to ownership of the club and the situation is currently under consideration.
The Russian consortium, led by Vladimir Antonov and Chris Akers, is involved with Ferrari Russia and Spartak Moscow ice hockey team, and first held discussions in February.
If a deal is completed CSI would become Pompey’s fifth owners in three years, following Chainrai’s arrival 14 months ago.
The Blues chairman took control of the club in February 2010 and shortly afterwards put them into administration with debts of around £120m.
But Lampitt refused to speculate on whether a deal is close to completion.
“It’s important to get foundations in place for next season,” Lampitt told BBC Radio Solent. “It’s absolutely critical we get to that position as soon as possible.”
“The earlier we do that the better it is for the club and for the building of the squad next season.”
“There’s obviously an approach that’s ongoing and we’ve known that for a little while so for us it’s business as usual.
“If we do get to a position where a deal is completed that’s when we’ll come out and say something.
“I think to speculate on how close that is or how far away that is doesn’t help anyone and it doesn’t help the fans.”