Hart admitted that Crouch was on his way to Tottenham, with Harry Redknapp apparently succeeding in reuniting the striker with his former Pompey partner Jermain Defoe with a bid of around £10million.
Hart, who last week signed a two-and-a-half year deal to remain with the south coast club, claimed it was a result of a bid to balance the books following a period of unrealistic spending under Redknapp.
"Obviously I'm disappointed to see Peter leave, but given the severe financial restraints in place here we had no choice but to accept an offer from Tottenham," he told the Daily Mirror.
"I think people need to realise that Pompey have been punching above their weight and could no longer sustain the level of spending that has gone on here over the last three years."
Hart also insisted that the takeover spearheaded by Dr Sulaiman Al Fahim would not lead to a Manchester City style spending spree.
"Even though a new owner is poised to come in our dealings in the market will be modest in comparison to the past," added Hart.
Spurs manager Harry Redknapp later said "(Spurs chairman) Daniel (Levy) is talking to (Pompey chief executive) Peter Storrie and the pair are very good negotiators," said Redknapp on Sky Sports.
"Portsmouth have a price they want but myself and Daniel have spoken and we have a price we think is fair. Hopefully a compromise will happen and we'll get something done."
Redknapp also has an interest in Real Madrid striker Klaas-Jan Huntelaar and former Arsenal captain Patrick Vieira.
"They are two players we've been interested in," he added. "We've spoken to Real Madrid about Huntelaar.
"I spoke with Patrick's agent about playing for Tottenham. We'll have to wait and see."
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Oops ! another blubber from Harry,am quiet certain the next player on the list is Sol Campbell.
By mpho.. Posted July 26 2009 at 3:11 PM.