Gaydamak admits Portsmouth sale

Tony Adams last night confirmed that Portsmouth's owner Alexandre Gaydamak has been "looking for a few months" to sell the club.

On the day that Gaydamak finally went public with his intentions, contradicting previous statements that he did not want to sell from chief executive Peter Storrie, the Portsmouth manager said: "We just want to be open and honest. There are a lot of football clubs for sale but he does not need to do it now."

Sources, however, have indicated that Gaydamak's intention is a little more urgent, which may explain why he has decided to confirm he has had talks with various parties – and rejected two offers, including one from the United States and another from South Africa – after suffering from the current financial crisis.

It is understood the South Africans, who are being advised by the agent Pini Zahavi, which means a return to Fratton Park for former Chelsea manager Avram Grant is likely should they succeed, remain interested and are currently the most likely buyers.

However, Gaydamak wants to flush out more potential buyers, although he is aware that, with Newcastle United struggling to find new owners and West Ham United up for sale, finding the right purchaser is more difficult than it has been for some time.

"I have come to realise over a period of time that I can no longer invest the time required to oversee the running of the club," Gaydamak said yesterday. For that the word "money" could be substituted for "time". Gaydamak said he wanted guarantees from a buyer that a new stadium and training ground would be built.

The future of several Portsmouth players are also in doubt with Lassana Diarra, Glen Johnson and David James likely to be the subject of bids next month.