Portsmouth's future should be assured on Saturday night after lawyers representing former owner Sacha Gaydamak revealed an agreement with the club should be signed.
Tim Stocks of Gaydamak's lawyers Taylor Wessing said he would be recommending to the business tycoon that he signs the deal with Portsmouth regarding the payment schedule of £2.2million owed to him. The club had claimed they were on the brink of ceasing trading because Gaydamak had refused to sign the deal.
Stocks insists there was merely some technical details to be agreed, which he did with Portsmouth's administrator Andrew Andronikou on Friday night, and he told Press Association Sport: "I will be talking to Sacha tonight (Saturday) and recommending the documents are signed."
He added: "There was never any demand of £2.5million being paid in cash - there were five or six highly technical points on some of the contracts which I had agreed with the administrator.
"I was baffled and saddened therefore to see announcements saying the club was at the brink, it has caused anxiety for no good reason.
"My instructions are to work towards trying to get an agreement tonight and I hope to do so."
Under the deal, Portsmouth will pay Gaydamak £2.2million in instalments over the next five years.
Stocks added: "This is a transaction that works for all creditors as well as Sacha so I'm hopeful we will get the paperwork signed. I would like to reassure Portsmouth fans that the club is not on the brink."
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