With wage levels expected to drop as a consequence, clubs are also expected to struggle to retain some of their best players, with some eye-catching performers potentially up for grabs.
We’ve contacted local journalists covering League One to compile a list of each club’s free agents this summer – and here are the prominent names which may well interest Pompey...
5. Harry Anderson (winger)
The 24-year-old played under Danny Cowley at Braintree and then Lincoln, with the goal-scoring winger being a pivotal part of the Imps' ongoing success. Has largely been used from the bench this season, but has still featured 35 times. Picture: Ashley Allen/Getty Images Photo: Ashley Allen
6. Jordan Graham (winger)
At Gillingham, the winger has finally fulfilled the talent suggested as an England under-17 international. The former Villa and Wolves man is now aged 26 and has looked an outstanding player in both his outings against Pompey this season, while has netted 12 times for the Gills this term. Picture: James Chance/Getty Images Photo: James Chance
7. Lucas Akins (winger)
The one-time Pompey target remains a key player for Burton, where he has spent the last seven years as a first-team regular. A strong-running winger, who has also filled in at full-back, he is now aged 32, but, with 67 goals during his time with the Brewers, still has plenty to offer. Picture: James Chance/Getty Images Photo: James Chance
8. Jason Pearce (central defender)
Now aged 33, the Charlton man has reached the veteran stage, but has played 25 times this season and remains a warrior. A natural leader and brave defender, he was The News/Sports Mail's Player of the Season at Fratton Park in 2011-12 before sold to Leeds - and has often stated he would love to come back to Pompey. Picture: James Chance/Getty Images Photo: James Chance