Balram Chainrai, the former Portsmouth owner, has submitted a new offer in a bid to buy the League One club.
Chainrai withdrew an offer last week, leaving the Pompey Supporters' Trust (PST) as the only option to save the stricken club from liquidation.
The Hong Kong-based businessman has now come back in, but the PST will still present its bid to Trevor Birch, the administrator, today. Birch, who confirmed Chainrai's renewed interest, will then make a decision based on "the best deal for creditors".
Birch explained that the offer from Portpin, Chainrai's company, was now being reviewed.