The Barclays Premier League's bottom side today issued a strongly-worded statement denying rumours they are planning to go into administration.

Speculation over the club's finances has intensified since it was revealed last week that their players had been paid late for a second time this season.

The Fratton Park outfit is also under a transfer embargo, as they still owe money to Arsenal and Chelsea for the signings of Lassana Diarra and Glen Johnson respectively.

But Grant says he trusts the Pompey board to resolve the team's financial crisis and is determined to deal with the problems within his sphere of influence.

He said: "My job is to work on what happens on the pitch.

"I know there is a situation off the pitch, but the people who need to deal with it are dealing with it. They (the board) told me everything will be okay.

"If the board makes an official statement about this, I have no reason not to believe it.

"I know they are trying their best to solve our problems off the pitch.

"I have enough problems on the pitch. We are bottom of the league and I need to deal with this."

While Pompey's financial stability is out of the hands of both Grant and his players, the Israeli is keen for his charges to focus on what they can control.

He added: "Even though this situation may not be comfortable off the pitch, we need to be focused on the pitch on what we need to do.

"Maybe it has been a little bit difficult, but this is what we need to do and that's what I intend to do.

"At the end of the day, the players are coming to play football.

"Even though things aren't settled off the pitch, we have the power to do what we need to do on it. Nobody can stop us from doing this."

With concerns still hanging over Pompey's finances, it has been questioned whether Grant will be able to strengthen his struggling side in the January transfer window.

Pompey confirmed in their official statement that the manager will be given "all the tools he needs to ensure the club reaches a position the players' performances deserve - away from the relegation zone."

With the likes of Aruna Dindane, Kevin-Prince Boateng, Kanu and Aaron Mokoena all on duty for their countries at the African Nations Cup next month, Grant admits he will need to bolster his resources.

He said: "We will have a long, long battle to stay in the league, but I think we can do it.

"For this, we need to make the squad a little bit stronger, particularly for when we have the African Cup of Nations and six players won't be here.

"Having six players leave is too much but it's a fact - we can do nothing about this. All we can do is think about the solution and we are doing this."

Despite the club's struggle to pay their players on time in recent months, Grant has no fears that potential recruits will be deterred from moving to Fratton Park in the new year.

He added: "I've spoken with players and agents and I don't see any problems for the moment.

"Of the players we are thinking about, not one of them has said they wouldn't come to Portsmouth."

The club also stressed Peter Storrie will not be leaving his post as chief executive.

Storrie has been criticised for spending two weeks away from the club during the recent problems on a family holiday in Australia.

Storrie has countered strongly by pointing out the trip was planned well in advance and he has been conducting company business while away at his own expense.

"I am not leaving this football club and I have not deserted anyone," Storrie told The News.

"Everyone knows how much Pompey means to me. This was a trip arranged six months ago to be at the 50th birthday of my wife's closest friend.

"It has cost the club nothing - in fact, I've been on club business while over here.

"(Owner) Ali (Al Faraj) would like additional investors brought in and that is what I am happy to try to arrange.

"I know a lot of people in the world and I am talking to them about that. That's my job and I will continue to do that.

"I have already attended four meetings in Hong Kong and am also travelling to Melbourne for another one."

Portsmouth have endured a turbulent year with the ownership of the club changing hands twice.

Sulaiman Al Fahim's protracted takeover took three months to complete and then lasted only six weeks after players' wages for September were not paid on time.

Al Fahim sold 90% of his shares to Al Faraj in October but further administrative difficulties led to a second payment delay for last month.

The problems have been reflected in results on the field, with the team bottom of the Premier League after 15 games.

Manager Paul Hart paid the price for the club's poor start to the season with the sack last month.

Grant, his successor, lost his first two matches in charge but then secured a crucial win over Burnley last weekend.