Portsmouth are set to appeal to the Football Association over their failed application for a Uefa club licence.
The FA Cup finalists entered administration last month and were not in a position to file their accounts - a criterion for European entry.
Pompey are currently unable to play in Europe and the club administrator admitted they faced an uphill task to overturn the decision.
"We will appeal. We follow a can-do approach," said Andrew Andronikou.
Two extra-time goals against Tottenham on Sunday helped Pompey set up an FA Cup final clash with Chelsea on 15 May, and under normal circumstances, the south-coast club would have claimed a Europa League place, win or lose.
That is because Chelsea are near-certainties to qualify for the Champions League via their league position, so the Europa League place on offer for the FA Cup winners would pass to the runners-up.
If Pompey's appeal fails, that place is expected to go to the seventh-placed team in the Premier League instead.
But with their dismal financial situation showing signs of steadying, Portsmouth - whose relegation to the Championship was confirmed at the weekend - are now making it a top priority to acquire the necessary Uefa club licence.
Andronikou told BBC Radio 5 live that they were unable to file the audited unqualified accounts to the FA in March because being in administration meant they "did not meet the requirements".
"It will be an uphill struggle in terms of making the appeal but nonetheless we will try," added Andronikou.
"It was such a marvellous occasion and such a wonderful result for the club, and it has already triggered further interest.
"We had one party who had shown interest, they were hovering, a real significant consortium with sporting interests, and this morning [Monday] they came to step up their interest."
Portsmouth won the FA Cup in 2008 which led to the club's first European campaign and gave fans memorable ties with AC Milan and Wolfsburg.
The team are also having to contend with the prospect of being shorn of some players at Wembley next month because of clauses regarding bonus payments.
Andronikou confirmed French club Lens would be spoken to over allowing Ivory Coast striker Aruna Dindane to play in the final without incurring a £4m payment that comes with his 22nd appearance.
"I'm sure they will see it is in the interest of the club, themselves and the player for there to be a compromise." Andronikou insisted.
"There are other players with clauses in their contract. But I am very confident they will be playing and I'm confident we will get the whole squad back for the final."
Andronikou was appointed as the club's administrator on 26 February with the aim of cutting costs and finding a buyer for the Hampshire club.
The decision to go into administration came ahead of an scheduled winding up order from Her Majesty's Revenue & Customs who have since challenged the move and questioned the validity of Andronikou's appointment.
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The FA Cup finalists entered administration last month and were not in a position to file their accounts - a criterion for European entry.
Pompey are currently unable to play in Europe and the club administrator admitted they faced an uphill task to overturn the decision.
"We will appeal. We follow a can-do approach," said Andrew Andronikou.
Two extra-time goals against Tottenham on Sunday helped Pompey set up an FA Cup final clash with Chelsea on 15 May, and under normal circumstances, the south-coast club would have claimed a Europa League place, win or lose.
That is because Chelsea are near-certainties to qualify for the Champions League via their league position, so the Europa League place on offer for the FA Cup winners would pass to the runners-up.
If Pompey's appeal fails, that place is expected to go to the seventh-placed team in the Premier League instead.
But with their dismal financial situation showing signs of steadying, Portsmouth - whose relegation to the Championship was confirmed at the weekend - are now making it a top priority to acquire the necessary Uefa club licence.
Andronikou told BBC Radio 5 live that they were unable to file the audited unqualified accounts to the FA in March because being in administration meant they "did not meet the requirements".
"It will be an uphill struggle in terms of making the appeal but nonetheless we will try," added Andronikou.
"It was such a marvellous occasion and such a wonderful result for the club, and it has already triggered further interest.
"We had one party who had shown interest, they were hovering, a real significant consortium with sporting interests, and this morning [Monday] they came to step up their interest."
Portsmouth won the FA Cup in 2008 which led to the club's first European campaign and gave fans memorable ties with AC Milan and Wolfsburg.
The team are also having to contend with the prospect of being shorn of some players at Wembley next month because of clauses regarding bonus payments.
Andronikou confirmed French club Lens would be spoken to over allowing Ivory Coast striker Aruna Dindane to play in the final without incurring a £4m payment that comes with his 22nd appearance.
"I'm sure they will see it is in the interest of the club, themselves and the player for there to be a compromise." Andronikou insisted.
"There are other players with clauses in their contract. But I am very confident they will be playing and I'm confident we will get the whole squad back for the final."
Andronikou was appointed as the club's administrator on 26 February with the aim of cutting costs and finding a buyer for the Hampshire club.
The decision to go into administration came ahead of an scheduled winding up order from Her Majesty's Revenue & Customs who have since challenged the move and questioned the validity of Andronikou's appointment.
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