Stephen Henderson will spend the rest of the season at West Ham United Football Club.
Sam Allardyce has taken the 23-year-old goalkeeper from financially troubled Portsmouth on loan, with the view to a permanent deal in the summer.
Pompey, who are fighting relegation after being docked ten points for falling into administration, have confirmed they needed the cash to keep battling this season.
"Stephen Henderson will be joining West Ham on loan with a view to a permanent contract," administrator Trevor Birch told The News.
"We still need money to get past the end of the season. It doesn't just stop then, so I am trying to get in that extra cash which pushes it even further.
"I cannot divulge how much we will receive (from West Ham), it wouldn't be right to. But it's a significant fee. We wouldn't be doing it otherwise."
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