Portsmouth Football Club could face liquidation after the former owner withdrew an offer to buy the side. A fans' consortium bid remains.
Portsmouth Football Club supporters are a step closer to taking over the club after it was reported Balram Chanrai was withdrawing his bid.
Balram Chanrai has withdrawn his bid to take over Portsmouth Football Club.
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."
Portsmouth Football Club supporters are a step closer to taking over the club after it was reported Balram Chanrai was withdrawing his bid. The latest development leaves the administrator only one bid on the table; that of the fans.
They've already pledged almost £2m, with associate directors and investors paying another £1m. Last Thursday, Portsmouth City Council agreed a £1.45m bridging loan to the Trust, in the event of a 'commercial' solution not emerging.
– Trust spokesperson Colin Farmery
"This is the moment we have been waiting for. Fans need to be ready to come up with the money they have pledged. It is a pivotal moment in the club’s history. We welcome the fact Portpin have stated they want to want to help save the club. It is no one’s interests Pompey are liquidated. I am certain Pompey fans, the city of Portsmouth and the wider football family will be able to do what is needed to make Pompey the biggest community club of its type in the UK."