Negotiations with the defender have gathered pace this week – and an agreement to see the free agent’s return to Fratton Park could be sealed over the weekend.
It will represent the Blues’ first piece of business in the summer transfer window, which opened on Tuesday.
Talks continue over extending Lee Brown’s stay, with the News understanding that that particular deal it is 70 per cent done. – despite interest from Hull, Wycombe and Rotherham.
However, it appears Pompey will get Raggett to put pen to paper first, with talks now at an advanced stage.
The central defender proved a key figure in the Blues’ failed pursuit of promotion last season, featuring on 38 occasions during a season-long loan from Norwich.
His move proved to be a slow-burner at first, but the 26-year-old soon established himself as first-choice alongside Christian Burgess in the heart of the Pompey backline.
Burgess’ move to Royale Union Saint-Gilloise in Belgium on a free transfer and Raggett’s subsequent return to Norwich increased the need for Jackett to focus on his defensive options for the 2020-21 season.
The Canaries’ decision not to offer Raggett a new deal and allow him to leave Carrow Road on a free provided the Blues with a welcome boost.
However, with his performances last season gaining attention from the Championship and EFL clubs set to fall under new salary cap proposals, a return to Fratton Park was far from a forgone conclusions.
Raggett has, indeed, held talks with other clubs.
But the Blues look set to win the race for his signature, with a deal expected to be concluded in the coming days.
Extra urgency was needed with EFL clubs set to vote on wage ceiling plans on Friday, August 6.
Yet any deal for Raggett, who enjoyed living on the south coast, will not be included in proposals which will see League One salaries capped at £2.5m over the course of a season.