Portsmouth are waiting for the money from Younes Kaboul's transfer to Tottenham to clear into their accounts before the wages of players and staff at Fratton Park can be paid, Press Association Sport understands.
Spurs and Pompey are still in negotiation over the transfer of French defender Kaboul, but the south coast club are hopeful the deal can go through and the players will be paid by midnight on January 31 at the latest.
If a deal is agreed, the funds must first be paid by Tottenham to the Premier League, who then forward it to Portsmouth. It is unclear exactly how much Portsmouth would receive from the deal but they are confident it would be sufficient to cover this month's staff wages.
Kaboul, rated at £10million, was taken to Fratton Park by Spurs boss Harry Redknapp in August 2008 having joined Tottenham the previous summer. It is believed Spurs are still owed £2million from that deal.
"We're not trying to buy him on the cheap," Redknapp said today.
"We're paying whatever the going rate is for him.
"I would be keen to bring him back if the deal is right for everybody."
Redknapp maintained he had sympathy for Portsmouth manager Avram Grant and said Tottenham had entered into negotiations for Kaboul and goalkeeper Asmir Begovic with the blessing of the Israeli.
"I said if you don't want to sell them Avram we won't get involved," Redknapp added.
"(Grant) said 'We need to sell them. We need to make the sales otherwise we are in trouble'."
A club spokesman confirmed Grant took training as usual and divided his time as normal between the training ground and his office.