Creditors have voted to accept Balram Chainrai's offer to re-take the reins at Portsmouth Football Club. The former owner offered to pay 2p for every pound owed to creditors - although he did promise to refund small creditors in full, such as charities.
But the door was left open for the Pompey Supporters Trust who also tabled a bid for the club. Fans of the League One club have been given more time to raise a more substantial bid. Two years ago Pompey collapsed with debts of £138m and again called in the receivers this year owing £40m.