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Storrie said Pompey had been living "way outside our means".
BBC: Pompey 'just avoided going under'
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Storrie had said on Sunday that the south-coast club would take their time in finding a new manager, but revealed that the "huge, huge shock" of Redknapp's departure to Tottenham made a quick appointment imperative.
BBC: Adams named new Portsmouth boss
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"I really don't know what will happen if that money doesn't come through, " said Storrie.
BBC: Hart gives players salary pledge
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"I've enjoyed my seven-and-a-half years here and I feel there's a job yet to be done, " said Storrie.
BBC: Pompey 'just avoided going under'
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"Right from the beginning I liked the idea of continuity, " said Storrie.
BBC: Adams named new Portsmouth boss
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"It is all very well changing things, but if you look at the performance on Saturday and the support of the crowd then you'd be daft and stupid to change anything, " said Storrie.
BBC: Storrie to remain at Portsmouth
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"He knows the club, players and set-up so it was logical to make him manager, " said chief executive Peter Storrie.
BBC: Portsmouth appoint Avram Grant as new manager
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Mr Andronikou also said chief executive Peter Storrie - who has been criticised over his handling of Portsmouth's troubles - had tendered his resignation.
BBC: Portsmouth FC administrators axe 85 jobs to cut costs
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With chief executive Peter Storrie's future in doubt, Al Fahim said that reports that the club could soon enter administration were incorrect.
BBC: Portsmouth owner 'to inject ?50m'
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"New directors will be appointed to the board and Peter Storrie will remain as chief executive and will be running the club, " said a Portsmouth spokesman.
BBC: Owner Al-Faraj may challenge latest Portsmouth takeover