The embargo was lifted after Pompey and Udinese agreed to restructure payments of £3.6 million owed to the Italian club for Sulley Muntari. However, Portsmouth can only sign players on loan or on a free transfer.
Still, Avram Grant can now push through any loan deals he had in the pipeline and Jamie O'Hara is expected to return to Fratton Park for the rest of the season in the very near future. Storrie also confirmed that Grant is interested in loaning an Egyptian striker, which I think is likely to be Emad Moteab.
More good news could be coming for Pompey fans too as Peter Storrie revealed the board were talking to people about investing in the club.
There were heavy rumours last night that Saadi Al-Gaddafi, son of Libyan dictator Colnel Gaddafi, was being lined up to be the fourth owner of the club this season but a Pompey insider has strongly refuted these claims on ESPN Soccernet saying "Is this silly season? We have enough problems as it is. We know nothing about Saadi Gaddafi."
There have been talks with three parties, according to reports, and one of them is meeting with Ali Al-Faraj's representatives for a second round of talks in the near future.
One rumoured investor is former Manchester United shareholder John Magnier. The horse breeder is said to be worth around €4,000,000,000 (that's four billion Euros.)
So maybe there is some more good news on the horizon, but I hope the good news continues tonight after we beat West Ham!