Controversial former Portsmouth takeover candidate set to add Birmingham City to list of failed purchases that includes Bolton, Oldham and Charlton

Instead, it has been revealed that the Championship club are on the brink of being taken over by a consortium led by former Argentina striker Maxi Lopez and local businessman Paul Richardson.

It’s has been reported that Richardson was at St Andrew’s this morning and confirmed that contracts were exchanged over the weekend. A deposit was also supposedly paid yesterday.

The development will come as a welcome surprise to Brum supporters, who have been growing impatience over the sale of the club.

It will also add to Bassini’s controversial CV of failed takeover attempts following reports last month that he had agreed a £35m purchase of the St Andrew’s outfit, subject to EFL approval.

The English businessman is undoubtedly a contentious figure and a former Watford owner previously linked with fruitless takeovers at Bolton, Oldham, Charlton and, of course, Pompey.

During Pompey’s 14-month administration from February 2012, he was among a number of interested parties to step forward with a view to buying the club.

That involved a 30-minute phone call with Portsmouth Supporters’ Trust director Mick Williams, pledging £14m and a promise to get Pompey back into the Premier League.

However, he was against fan involvement and a potential partnership with the Trust never came to fruition.

Subsequently, in April 2014, fan ownership was installed at Fratton Park to prevent liquidation and remained the case until the club’s sale to Tornante in August 2017.

In March 2013, Bassini, who has been bankrupt twice, was banned from involvement in a position of authority with any Football League club for three years, having been found guilty of misconduct and dishonesty over financial dealings at Watford.