Pompey Supporters' Trust is being given a chance to take over the club after it was reported that Balram Chanrai has withdrawn his bid. His company Portpin had been finalising the takeover arrangements, but Mr Chanrai threatened to pull out at the weekend in a dispute over the fees charged by the administrator PKF - a reported £1.8 million.
This latest development means the Pompey Supporters' Trust bid is the only one on the table. Just last week, Portsmouth City Council announced it would put taxpayers' money into the bid to save Pompey. The loan of £1.45 million to the Pompey Supporters' Trust bid had a number of conditions, including that the club keep their Football League membership, that the Trust obtains Fratton Park, and gives the council part of the £11.7 million parachute payment as repayment for the loan.
Trevor Birch, the administrator of Portsmouth Football Club has said he plans to call an urgent meeting between Portpin and the Pompey Supporters' Trust after Balram Chanrai's business pulled out of buying the club.
He said, "In reviewing the options available to the club, we also note Portpin's offer to support any efforts to save Portsmouth in the forthcoming days. We are therefore urgently seeking a meeting with Portpin and the Pompey Supporters' Trust
to determine if the Trust's bid can be brought to a successful conclusion. We are working behind the scenes with Michael Appleton to enable the club to field as strong a team as possible for its first League match on Saturday."