James has managed two clean sheets this season

Goalkeeper David James has hinted that he may be prepared to take a wage cut to extend his career at Portsmouth.

Pompey went into administration on Friday, with the administrator expected to try to sell players and cut salaries to reduce the club's debt.

And veteran James seems keen to explore the latter option in his case.

"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," said the 39-year-old.

"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."

606: DEBATE Players we have this year, who are not great and we will probably keep should we go down, in my opinion would be good Championship standard PFCSCC

However, the former Liverpool stopper will also be aware that safeguarding his future at the south-coast club could boost his chances of being England's number one at this summer's World Cup.

After lurching from one crisis to another this season, Portsmouth finally became the first Premier League in history to enter administration on Friday.

Premier League rules dictate that Avram Grant's team will be deducted nine points as a result, making them virtual certainties for relegation.

But administrator Andrew Andronikou, who estimated that Pompey's debts will "bottom at around £78m", has said the club aims to challenge this penalty.

"The assumption that there is an automatic deduction of points has never been tested before but we will do our very best to avoid a deduction," he told BBC Radio 5 live.

"Our solicitors believe there may be a slight opportunity but I don't want to say anything more because that prejudices my position in achieving it.

"I would say everyone has taken for granted that there will be a deduction of nine points."

Despite the club's financial quagmire, James is maintaining a positive outlook and claims the mood at Fratton Park is not entirely downbeat.

"There is a sigh of relief in some respects that we've gone into administration as opposed to liquidation," he said.

"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."

If the Premier League enforces the points deduction, James's team, already rooted to the foot of the table, would be on 10 points - 14 points away from safety.

The importance of Portsmouth outweighs the importance of any individual David James

But a defiant James believes his team could bridge this gap after seeing them win 2-1 at Burnley thanks to goals from Frederic Piquionne and Hassan Yebda.

"Someone said we needed 10 wins out of 12. Well now we have one of them," said the England international.

Meanwhile, Portsmouth's last owner prior to administration Balram Chainrai has ruled out becoming the owner of the club for a second time.

Chainrai reluctantly became the fourth owner of the season at Fratton Park, taking 90% of the club shares after the previous owner Ali Al Faraj defaulted on loan payments due to him.

Reports suggested he could buy the club back, however he said in a statement: "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."

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