Portsmouth administrator Trevor Birch has warned the club will go out of business on 10 August unless an agreement can be reached over the wages of their senior players.
Eight players were understood to be in disagreement over unpaid salaries, although Luke Varney has since joined Leeds. Birch said: "Everybody, including the players, have been served notice that the club will close down on 10 August."
Defender Tal Ben Haim and striker Kanu are among the players owed significant wages, with both players reportedly claiming around £3m in unpaid salaries. Birch added: "The only way the club can be saved is if the players accept compromise deals... If the new owner does not take over the liabilities and guarantee £10m to football creditors then the Football League will not transfer its share and the club will go under."