Portsmouth chief executive Peter Storrie remained locked in talks with representatives from Her Majesty's Revenue and Customs on Tuesday afternoon over a bid to halt a winding-up order against the club.
Storrie was at Fratton Park looking for an agreement to avoid the matter going to the High Court on Wednesday, and it is thought they have offered to pay a portion of the money owed to HMRC.
If a compromise is reached with HMRC, it would help Pompey avoid becoming the first top-flight club going into administration and would also give them time to secure a fifth owner of their turbulent season.
Pompey are looking for new investors after Balram Chainrai took charge last week when Ali Al Faraj defaulted payments on a loan, with the businessman not interested in owning the club in the long term.
Former Pompey boss Harry Redknapp said: "Let's hope they can find someone else. I think they have a potential owner they are talking to. It needs someone to invest in the club, stabilise the club and get it back on its feet.
"They've been through it before, a couple of years before I came when the gates were locked and Milan Mandaric saved them that time."
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