A BID from Balram Chainrai’s Portpin to buy Pompey could be on the table as early as tomorrow, The News understands.
The Hong Kong-based businessman has already owned Pompey twice and is owed £18.6m by the club.
He has described himself as an unwilling owner and a last resort – and has proved a divisive figure among fans – but has said that he will not allow the club to be liquidated.
The race is on to have an owner secured by the time the Football League begins its annual meeting on May 30.
It is during the three-day meeting that all clubs in the championship, league one and league two have their membership confirmed.
If it is deemed unlikely a club could fulfil its fixtures, because they are in administration for example, the Football League could kick them out.
Sources close to the club confirmed the bid could be made tomorrow.
But a spokesman for Pompey’s administrators PKF said: ‘All we can say is that we are continuing to talk to Portpin.’
He also described the Football League’s meeting as a ‘key’ point in the fight to keep Pompey alive.
He added: ‘If we haven’t got a buyer in place by then we’ll have to be 99 per cent sure we’re getting one.
‘It is a very important milestone and we’ll have had to have shown a lot of progress by then.’
An anonymous bidder has also shown interest in buying Pompey, but these are still in early stages.
Meanwhile, the Pompey Supporters’ Trust is continuing its efforts to launch a bid to buy the club by asking fans to buy pre-shares for £100, and a further £900 to buy the club outright.
Mick Williams, of the trust, was at The News yesterday to answer questions in a web chat.
He told Pompey fans that the trust’s bid would come ‘close to the wire’ and would not be made for a couple of weeks yet.
But he urged fans to keep pledging money to help the bid gain strength.
He said: ‘The more pledges we get, the more credible our bid becomes, so keep them coming,’
He also said local accountants Taylor Cocks have formulated a three-year business plan to keep Pompey afloat.
He also urged fans interested to know more about the bid to meet members of the trust on Saturday.
An open day will be held at 1pm at the Victory bar at Fratton Park, and a similar event at Petersfield Town Football Club at 4pm.
A public meeting will also be held at 6pm at Fratton Park, where the trust will answer questions about the future of Pompey.
The Champions League final will also be screened.