Portsmouth could be about to be bought by a consortium of South African businessmen, according to reports.
The group is understood to be in advanced negotiations with the club's current owners and are being advised by Pini Zahavi, a renowned agent within the football industry.
Greg James, chief executive of gold mining firm Central Road Gold, is reported to be behind the £70 million deal.
Mr James has held talks with Portsmouth owner Alexandre Gaydamak and the process is "progressing well", according to the Times.
Of the proposed £70 million figure, around £30 million involves the south coat club's debts.
Gaydamak is understood to be keen to sell, while comments from recently outgoing manager Harry Redknapp suggested the board may have been forced to sell players in the January transfer window.
The takeover news could lead to a return to the Premier League for Avram Grant, according to a source.
A Daily Mail report claims the former Chelsea boss may be lined up to replace Tony Adams - who was only just appointed on a permanent basis - if the deal goes through.
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21 October 2010
21 October 2010
21 October 2010
20 October 2010
20 October 2010
