Portsmouth could be spared liquidation by two potential buyers rumoured to be a South African Consortium and the owner of Endeavour Plan, a Hong Kong-based investment company.
While Pompey face debts around £60million when their winding-up petition is heard in the Companies Court on 1st March, the South coast club will hope investment can persuade creditors to wait a little longer for their dues.
The South African consortium is believed to be keen to complete the deal before administration or liquidation and is in talks with representatives of club owner Balram Chainrai according to reports in The Times.
The consortium remains interested in a deal despite accepting the club is unlikely to feature in the Premier League next season.
The interest from Endeavour Plan owner Victor Cattermole has meanwhile shown itself in documentation sent to him on the club’s position.
Cattermole’s responding request for a 30-day period of due diligence however would not finish until after the court date. It therefore appears any buyout from the New Zealander will not materialise before administration.
While good news has been in short supply for the Pompey faithful this season, Fifa have also indicated its sympathies for Portsmouth’s request to be allowed to sell players outside the transfer window.
Though Pompey sold three players in the January transfer window, their finances have since worsened hence their request to be allowed to offload squad members now.
If Portsmouth were to be liquidated before the close of the season their points in the Premier League table would be cancelled.
But if the club were to go into administration before the end of the season if also be detrimental to competition in the League, as they would be docked nine points and other clubs’ totals would falsely reflect their league standing.
The FA are expected to rule on Friday, after consulting the other 19 Premier League clubs. Fellow struggles are likely to oppose the move as player sales may help Pompey avoid relegation.
The FA will meanwhile have to weigh up whether to protect competition in the Premier League or set a potentially dangerous precedent for clubs who have managed their finances poorly.
Were Pompey allowed to sell players, the FA would also need to resolve in which competitions players sold outside the transfer window would be allowed to participate.