Pompey closer to takeover
Portsmouth manager Steve Cotterill could soon be in a position to strengthen his threadbare squad as Balram Chainrai's takeover bid moves a step closer.
Football League rules prevent Portsmouth from signing any players until they are out of administration and Chainrai could be in a position to resume control of the club as early as today.
Representatives of the Hong Kong businessman are understood to be meeting with Portsmouth's administrators at lunchtime, with a view to thrashing out a final agreement.
Cotterill would have to wait until the takeover deal is ratified by the Football League but he could at least start putting some wheels in motion.
Portsmouth's website lists a first-team squad of 19 players but Cotterill has named only four of his permitted seven substitutes for the first two matches of the season.
Cotterill would be restricted to recruiting players on free transfers or on loan deals.
The administrator Andrew Andronikou had previously stated that Portsmouth's wages budget would allow the club to compete in the npower Championship but that money was not available to pay transfer fees.
Veteran Nigerian striker Kanu is currently out of contract at Portsmouth but he is still training with the club.
Kevin-Prince Boateng and John Utaka have been linked strongly with moves away from the club but Cotterill has rejected a bid from West Brom for captain Marc Wilson.
Chainrai needs to guarantee that he will fund the debt payments, which on a 20p in the pound basis equate to between £16million and £20million.
The Hong Kong businessman will then be able to try to recoup the £17million debt he is owed by the club.
Any rival consortium would have had to pay £17million to take over the club. It is understood there were no other interested parties.
If a deal is agreed at Andronikou's offices he will fly in from Europe, where he is currently on a business trip, to sign the paperwork.
Latest in Sport
Chelsea in Thailand: Eden Hazard offered 'free hug' as Jose Mourinho meets a familiar face
Heysel disaster 30th anniversary: Liverpool have seen too much tragedy to forget that fateful day in Belgium
Paul Scholes column: With Premier League over for another year, here are my end of season awards
Fifa bomb threat: Swiss authorities confirm a bomb threat has been made at the Fifa Congress
Michel Platini to consider pulling England and other Uefa members out of the World Cup if Sepp Blatter wins Fifa election
- 1 'Cheeky' Nando's under fire for apparently coming onto a customer on Twitter
- 2 Saudi Arabia mosque bombing: Two volunteer security guards hailed as heroes for stopping Isis suicide bomber reaching worshippers
- 3 Playboy model April Summers speaks out about being a victim of revenge porn
- 4 There is something wrong but very right about this Bible illustration
- 5 iPhone 'effective power' text: how to be safe from iOS bug that lets people crash your phone
EU referendum: David Cameron's rules are a 'democratic disgrace', says French-born Scottish politician set to be denied a vote
British tourists complain that impoverished boat migrants are making holidays 'awkward' in Kos
SNP fury as HS2 finds 'no business case' for taking fast train service to Scotland
A nation of inequality: How the UK is failing to feed its most vulnerable people
Australian man punched in the face for defending Muslim women from abuse on train
David Starkey 'tells Amal Clooney to shut up and stop over-promoting human rights'