• Kanu and Hreidarsson also offered contracts by relegated club
• Prospective owner will not step in before CVA has been agreed

Portsmouth have offered contracts for next season to players including David James, Nwankwo Kanu and Hermann Hreidarsson as they seek to build a squad capable of returning the club to the Premier League at the first attempt.

Portsmouth confirmed that at least eight players would be leaving following relegation but they are trying to keep a core of experience despite the financial problems which have pushed them into administration with debts rising to more than £130m.

James, who is part of England’s provisional World Cup squad, is the most significant player to have been offered a new deal. The 39-year-old is likely to receive offers from elsewhere.

Portsmouth revealed their plans todayin a statement on their website: “The football club has offered new contracts to David James, Kanu, Hermann Hreidarsson and Ricardo Rocha. Lennard Sowah, Matt Ritchie and Joel Ward have all been offered contracts. They are joined by fellow youngsters Marlon Pack and Tom Kilbey, along with reserve keeper Jon Stewart.

“Loan stars Jamie O’Hara (Tottenham), Hassan Yebda (Benfica), Aruna Dindane (Lens) and Frédéric Piquionne (Lyon) all rejoin their parent clubs.

“Anthony Vanden Borre will also return to Genoa but Pompey are working on a new loan deal that will hopefully allow the defender to come back to Fratton Park for a further season. Angelos Basinas, Jamie Ashdown, Steve Finnan and OJ Koroma have all been released.”

In a separate development Rob Lloyd, the property developer who represents an unknown potential buyer of Portsmouth, said he did not expect his client to make an offer for the club until a Company Voluntary Arrangement had been agreed with creditors.

Lloyd refused to respond to comments from Portsmouth’s administrator, Andrew Andronikou, who questioned the authenticity of his interest.

Lloyd says his client is still interested in buying the club. “We’re still cracking on,” he said, “but I don’t think anything will happen until the CVA.”

Andronikou has stated that he hopes Portsmouth will emerge from administration next month. Portsmouth are proposing to pay 20p in the pound for the first year, then 20p in the pound in total over four years.

PortsmouthJamie Jacksonguardian.co.uk