Milan Mandaric has announced his resignation as Portsmouth chairman.

The Serb-American has been non-executive chairman since completing the recent sale of the club to Alexandre Gaydamak but will step down after Monday's Premiership match with Bolton.

He said: "My last match as chairman will be against Bolton and, though it will be a very emotional occasion for me, I will leave immensely satisfied and happy about what I have achieved and whose hands I leave this club in."

"Already Alexandre Gaydamak has made his own impressive mark on the club which I fully expected and applaud.

"It is now right that a man who is fiercely committed to the interests of Portsmouth F.C. and its fans should be allowed to pen his own exclusive chapter as he takes things to the new heights I know he will achieve."