The football financier Keith Harris has made a revised bid to buy Portsmouth Football Club which would give fans a 15% stake.
The Football League has confirmed Portsmouth will lose their membership if the Pompey Supporters Trust's bid to buy the club fails.
An extradition hearing for the former Portsmouth Football Club chairman Vladimir Antonov has been adjourned for six months.
The keys to Portsmouth Football Club could be handed to the Supporters Trust before tomorrow's match against Sheffield United at Fratton Park.
The Trust successfully took control of the club last week and lawyers are currently working to rubber stamp the process.
This time 5 years ago, Portsmouth had Crouch, Johnson, Diarra, Defoe, Muntari... Now they are relegated to league 2.
Portsmouth relegated to League 2. FA Cup Winners less than 5 years ago.
Portsmouth have been relegated to League Two without even kicking a ball.
Oldham’s 1-0 victory over Yeovil on Tuesday night night means they cannot now be caught by the Blues.
But an impending 10-point penalty meant Pompey were effectively already down.
The future of Portsmouth Football Club could be decided today. The club's administrators are due at the High Court to try to release the club's former owner, Balram Chainrai's fixed charge on the Fratton Park ground and force the stadium's sale.
If a judge rules in the administrator's favour the Pompey Supporters Trust can proceed with their takeover.
The Portsmouth Supporters Trust (PST) say it's pleased after the latest court hearing regarding the future of the club. The club has been in administration since February last year, with millions owed to creditors and the tax man. The PST want to take over the running of the club.
PST chairman Ashley Brown said: 'As presented in court today our bid is fully funded and ready to go and we hope a date can be found in the near future to resolved this matter so the Trust can start the job of rebuilding the club.
'The Football League has also cleared up any confusion by making it clear for a third time that it will only consider a bid from PST."
The administrators of Portsmouth Football Club, PKF, have responded to the news from the High Court that the case to determine the future of the team will take place by 19 April at the latest.
The club has been in administration since February 2012. A collective of fans and supporters The Pompey Supporters' Trust are hoping to buy the club. The court case hinges on the ownership of the side's Fratton Park ground.
“We are pressing ahead with the case that is seeking the court’s consent for the disposal of Fratton Park to the PST (Pompey Supporters Trust).
"The court has this morning confirmed that the case will be heard by 19 April at the latest, which will enable us to meet the Football League's deadline for the sale of the club, subject to a favourable ruling. We hope that, in the next few days, the court will be able to set a specific date for this hearing.
– Spokesman for PKF, Portsmouth Football Club administrators
"The court was also made aware that correspondence has been exchanged between the Football League and Portpin which seems to lead to some ambiguity with the League's previous public statements that no other bid would be considered at this late stage. We will be seeking clarification from the League as a matter of urgency."
The court case to determine the future of Portsmouth FC will take place by April 19th at the latest. The announcement comes from the High Court.
Colin Farmery from the Pompey Supporters' Trust has responded to a revised bid for Portsmouth Football Club from the financier Keith Harris. In Harris' revised offer, Portsmouth Football Club fans would be given 15% of the shares in the club for free.
However Farmery said the announcement made today came under curious timing, when the Football League had already made clear that it wanted the Pompey Supporters' Trust to own the club. Farmery said that fans were already on the way to owning the side completely.
– Colin Farmery, Pompey Supporters' Trust
Why on earth would we want to accept an offer of owning 15% of the club when we are on the verge of getting 100% of the club. In our bid Pompey would be 100% owned by Pompey fans. Our bid is the only bid which deals with legacy issues. We would own the Fratton Park ground from day one, making a clean break from the past."