An extradition hearing for the former Portsmouth Football Club chairman Vladimir Antonov has been adjourned for six months.
Pompey fans have been given a massive boost today having been named as preferred bidders to buy their club.
Portsmouth Football Club could face liquidation after the former owner withdrew an offer to buy the side. A fans' consortium bid remains.
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 Pompey Supporters’ Trust, which has exchanged contracts to buy the Portsmouth FC out of administration, is now waiting on a High Court hearing to decide the club's fate.
The court hearing will decide the value of the Fratton Park stadium in April.
If it is a price that the trust can afford, then will it become the largest fan-owned club.
The sale of Portsmouth Football club is a step closer after contracts were exchanged.
Trevor Birch, joint administrator of Portsmouth Football Club (2010) Ltd and a partner at PKF, has released the following statement:
“We can confirm that the administrators have now exchanged contracts with the PST for its purchase of Portsmouth Football Club.
“Completion is conditional only upon the Court sanctioning the sale of Fratton Park and the Football League transferring the membership share.”
The hearing could give a final green light for the Pompey Supporters’ Trust (PST) to buy the club.
A spokesman for administrators PKF said: "As is often the case in such situations, we are unlikely to get confirmation of the exact date from the court until a few days prior to the hearing."
A date has been set to decide the future of Portsmouth Football Club
The administrators for the club have announced that the court case to determine a possible sale of Fratton Park will begin on either Wednesday, April 10 or Thursday, April 11.
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."
A court hearing on the future of Portsmouth Football Club's Fratton Park ground has been postponed until tomorrow.
Portpin - the company run by former Portsmouth FC owner Balram Chainrai - say its suspended its bid to buy the financially troubled club. It comes three weeks after administrators named the Portsmouth Supporters Trust as the preferred bidder.
In a statement, Mr Chainrai argues sale of the club has taken too long, with administration costs mounting every week. The Hong Kong businessman also said that Portpin's bid is still the best one left on the table. Portsmouth are around £61m in debt and have been in administration since February.
Mr Chainrai - who is owed £17m by Pompey - was in control of the club in 2010 when it went into administration for the first time. It's also been a bad week for the club after Pompey manager Michael Appleton left to take over at Blackpool.