Councillors are attending an emergency meeting to decide whether they should lend the Pompey Supporters Trust almost £1.5 million. The Trust would use the loan to increase their bid for Portsmouth Football Club, which could face liquidation if a deal is not reached by tomorrow.
Trevor Birch, joint administrator of Portsmouth FC, said this morning: "I am pleased to announce that we have reached a compromise agreement with Tal Ben Haim, who will now leave the club. We expect to make an announcement on Liam Lawrence's future later.
While the situation with Kanu has not yet been resolved, we are cautiously optimistic about our prospects. The progress that we have made over the past 24 hours means that there is now a much better prospect of meeting the conditions of CVA, completing sale of the club and avoiding liquidation.
"As a result, we will now push on with our negotiations with a view to finalising a deal in the next few days. There is still more to do, and the club's future is not yet guaranteed, but we're in a stronger position and will now take some additional time to try to conclude matters."