Administrator Trevor Birch has welcomed the Portsmouth Supporters' Trust Share Scheme. The scheme, which will launch on Saturday, invites supporters to deposit a refundable minimum of £100 into a protected account.
If sufficient numbers respond, the PST will undertake due diligence and develop an offer to buy the club.
"There's a bit of work to do but in terms of principles and objectives it has to be applauded."
Trust chairman Ashley Brown said: "To enable us to negotiate effectively we need to understand whether our passion is shared by many others.
"If it is present, we will be in a position to make a formal and viable investment proposal to our members and supporters, and purchase Pompey as a going concern.
"As things stand, there do not appear to be many or any other options for Pompey - it may need to be our club or no club."
The PST scheme is supported by Portsmouth North MP Penny Mordaunt, who said: "I'd urge people to examine the offer - I wouldn't back this if I didn't have the confidence in what they are doing." "It may well be viable but it depends on how many people get involved," Birch told BBC Radio Solent.
