David James has hinted he would be prepared to accept a pay cut to help Portsmouth and plans to hold talks with the club's administrator.
Pompey became the first Premier League club to go into administration on Friday following the club's well-documented financial troubles, which had seen them threatened with a winding-up order.
A nine-point deduction seems certain to follow, although administrator Andrew Andronikou says there is a 'slight opportunity' to contest that penalty.
Andronikou has also confirmed that he will be speaking to the Premier League in the hope of being granted dispensation to sell one or two players to boost the club's finances.
James, who is entitled to a new contract once he has played 25 games for Pompey this season, is relieved that the club have managed to avoid going bust.
The veteran goalkeeper has also revealed that he is prepared to help Portsmouth in their recovery and wants to stay at Fratton Park until the end of the season.
Sigh of relief
"There is a sigh of relief in some respects that we've gone into administration as opposed to liquidation," said James.
"It keeps the club in the community, keeps the players here, and despite the fact the money issues are still there, it gives us a chance to keep playing football.
"As for me, I want to stay at Portsmouth until the end of the season and be part of the most incredible recovery ever."
He added: "I want to play games. If things have to be done in order for me to stay in the team, then so be it.
"I can't speak for the other players, only for me. The importance of Portsmouth outweighs the importance of any individual.
"I am happy to stay here and if I need to sit down and talk to the administrator, then that is what I will do."
Meanwhile, Balram Chainrai has claimed he has no interest in becoming Portsmouth's owner for a second time following reports he could buy the club back.
Chainrai said: "It is not true I'm looking to buy Portsmouth in the long term.
"I'm looking for new owners who have integrity to sustain the club and take it forward."