Peter Storrie admits Portsmouth face an anxious wait before discovering what the future holds for Sol Campbell.
The Pompey executive chairman has revealed that discussions have been held with the England international regarding a new contract, but as yet an agreement has not been reached.
Talks are set to resume when the centre-half gets back from holiday, with Portsmouth keen to fend off reported interest from a number of clubs across Europe.
"With Sol there is definitely no contract at the moment. We've held talks but Sol is currently on holiday and we are waiting for him to return so we can meet again," Storrie told The News.
Meanwhile, Storrie has also sought to clear up any uncertainty surrounding the future of those players who are also set to see their current contracts expire this summer.
"Hermann (Hreidarsson) has been offered a year's contract, while Sean Davis has turned his down and will be leaving. The rest of them have all gone. I don't think that will surprise too many people," he added.
"We also will not be following up (Liverpool loanee) Jermaine Pennant, he will not be joining us permanently.
"A lot of these decisions were not hard to make. A lot of these players weren't featuring in the team so it was best they moved on. I don't think anyone will be shocked."
Storrie has also confirmed that Pompey are keen to tie Croatian playmaker Niko Kranjcar, whose current contract expires in 2010, down on a long-term deal.
He added: "Niko is happy to stay. He's a quality player. Maybe we can persuade him to stay here longer."
It promises to be a busy summer at Fratton Park, with Middle Eastern billionaire Sulaiman Al Fahim expected to complete his takeover of the club in early July.
His imminent arrival has helped to raise expectations at the South Coast club, but Storrie has warned supporters not to expect a gung-ho spending spree over the coming weeks.
"Al Fahim wants to get the deal done as quickly as possible. We all do," he said.
"He's a nice guy who wants so much for the club and I know will do a lot for it - the fans can be assured of that. But he is not going to spend, spend, spend immediately on players. We are not in a rush.
"We are not going to splash out £40, 50, 60m this summer, that's not how Al Fahim wants to do things. Instead, he wants to spend money over the next couple of years."
Meanwhile, Belgian outfit Zulte Waregem, who have worked as a feeder club for Pompey in recent years, have broken off all ties with the Premier League side, citing the Blues' failure to keep promises as the reason behind the break-up.