The following statement has been released by Pompey joint administrator Trevor Birch:
“We have negotiated a compromise agreement with Liam Lawrence, who will leave the club when the paperwork is finalised later today.
“I’d like to thank Liam for his support and all of the other players for putting the club’s interest ahead of their own. They have all had to make very difficult decisions and been placed in an impossible position which wasn’t of their making.
“This means that we have now successfully completed agreements with all of the first team squad and met the major condition of the offer from Portpin, which formed the basis for the CVA proposal.
“We will now aim to finalise our discussions with Portpin with a view to completing the sale of the club as soon as possible. The intention is to push this through early next week in order to ensure that player recruitment can begin as quickly as possible for the start of the new season.
“The offer from the Pompey Supporters’ Trust remains a fall-back position and we are pleased to note that the Council has agreed to provide a loan facility to support the Trust bid.”