Portsmouth Supporters' Trust (PST) have expressed their delight at being named the administrators' preferred bidder for the club.
Administrators PKF announced the news in a statement released on Thursday.
Iain McInnes, proposed Chairman of Portsmouth under the PST bid, said: "We are energised that our bid, by the fans and for the fans, has been preferred by the club's administrators.
"Although there remains a huge amount of work to be done to ensure the right outcome for the club, we are confident we will succeed.
"We believe our bid is realistic and credible, which is a view shared by the administrator.
"We will be working closely with Trevor Birch and his team in the coming days and weeks to ensure our bid will meet all legal and financial requirements."