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Portsmouth Football Club clings on

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?

  1. ITV Report

Pompey rises again

Fans still in the running to take over Pompey

Prince William and Balram Chainrai at the FA Cup in 2008 Credit: ITV Meridian

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.

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Pompey administrator Trevor Birch must find buyer by June 2

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.

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