Portsmouth have confirmed they are entering an ‘exclusivity agreement’ with American billionaire Michael Eisner regarding a potential takeover of the club.
A 70-day arrangement will allow Portsmouth to enter into a period of detailed negotiations with the former Disney chief executive.
The club statement said: ‘Portsmouth Community Football Club would like to advise all shareholders and supporters that it has entered into an exclusivity agreement with Michael D. Eisner and his Tornante Group to allow for a period of discussions and negotiations to take place regarding a possible purchase of the club.
‘The agreement is simply to ensure that during this period, which will be 70 days, the club will not engage in discussions with any other potential bidder and is standard practice in these situations.
‘As all our supporters are aware, on the pitch we now enter the final, crucial phase of the season.
‘We can assure all fans that in the background we will now discreetly and privately engage in this next stage of discussions, while our focus will remain on supporting the football staff and players until the end of the season.’