Hong Kong-based businessman Balram Chainrai and Israeli property developer Levi Kushnir are locked in talks with a number of possible buyers after taking control of the club just last week.
Portsmouth face a winding-up order from Her Majesty's Revenue & Customs over a £12m unpaid tax bill and have total debts exceeding £70m. The pair have until the end of the week to find an alternative to administration or possible liquidation.
They have called in PHA Associates to help manage the flurry of media coverage surrounding the club's plight.
PHA Media's founder Phil Hall said: ‘We have been asked to make sure that the stories appearing in the media are accurate, because there has been wild speculation in recent weeks, much of which has been false. We will be advising them on a communications strategy going forward.'
Hall has worked with Portsmouth in the past and has held briefs with West Ham and Manchester City.
The agency has received significant coverage in recent weeks after being brought in to represent deposed England football captain John Terry.