Beleaguered club Portsmouth FC has something to cheer about just before Christmas as a supporters group's plan to take ownership of the team was given the green light to its ambitious bid.

The Football League, at a board meeting last week, has supported the Pompey Supporters' Trust (PST) in its efforts to create Britain's biggest community club, saying the bid had 'significant merit'.

The League however, highlighted two outstanding points which it stated would need addressing before the bid could be fully endorsed. These included the outcome of the High Court case due later this week, relating to the ownership of the club's home ground, Fratton Park, and provided that PST raised the funds anticipated in its business plan.

In addition, should PST take over as the club's owner, the League confirmed that Pompey would be deducted a further 10 points in compliance with football authority rules concerning clubs that go into administration.

Following the announcement, Ashley Brown, chairman of PST, said: 'We are very pleased The Football League has shown confidence in our bid by endorsing our proposed membership. This is a highly significant moment for the club.

'We have always argued that Pompey needs a community-led solution and we are very pleased the League shares our confidence in our ability to turn the club around.

'Thanks to the backing of our fans and our individual investors, we have a robust business plan which the league has endorsed.

'We now need fans to back us financially to ensure our club survives. This is a landmark moment on the road to rehabilitating the club and we now need everyone who can to buy a share or convert their pledge as soon as possible. This will ensure we are in a strong financial position prior to the court case.

'Of course we are disappointed that the league has confirmed the points deduction, although the reasons for it are the fault of those who have mismanaged the club so badly in its recent past.'