The Pompey Supporters' Trust is now in prime position to take over Portsmouth Football Club.
The Football League have failed to approve a bid by the 'Portpin' firm, headed by the club's former owner Balram Chanrai.
This leaves the Pompey Supporters' Trust as the front runner to take over the side.
Portsmouth football club looks set to survive as a League One side - this season - after administrators managed to clear the books of remaining highly-paid players.
The most likely outcome will see the club back in the hands of former owner Balran Chan-ri - and not the fans' preferred option - the Portsmouth Supporters Trust.
But what next for those who are still owed money by the club?
After last-ditch negotiations with players, the administrator hopes the club will be ready to recruit new players for the next season.Read the full story ›
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.
Pompey fans will try to persuade the football club's administrator that they should become the new owner of the financially troubled club. The bid by the Pompey Supporters Trust is one of two on the table. The other is by former owner Balram Chainrai. The meeting will be held at Fratton Park today.
Portsmouth supporters have submitted proposals to buy the club. The Supporters' Trust has been working to raise enough cash to challenge the bid of former owner Balrain Chanrai. A meeting of the club's creditors will take place on Monday morning.
The Fratton Park faithful, clinging onto a slim hope after recent good results, looked on in dismay as Jake Buxton put Derby ahead.
Trevor Birch has revealed his deadline for June 2 on a web chat. He was asked: ‘On what date does the company cease to exist if no new funding is forthcoming?’
He replied: ‘You cannot put a date on it. We need to find a solution in my opinion before June 2, the date of the AGM of the Football League.’
Mr Birch confirmed he is working ‘two potential interested parties’ – plus the Pompey Supporters’ Trust’ – but said talks were not at an advanced stage.
He said the two parties had approached him over ‘the last two or three weeks’ and do not have history of owning football clubs in the UK or abroad.
The Portsmouth football captain Liam Lawrence is to go on loan to Cardiff.Read the full story ›